Good Fortune Horse Ranch
Installment Purchase And Security Agreement With Limited Warranties

1. PARTIES:
Seller: Good Fortune Horse Ranch
P.O. Box 279
Flemington, Missouri 65650 Polk County Missouri

Buyer: _______________________________________________________________
2. HORSE (S) PURCHASED: The Seller hereby agrees to sell and the Buyer hereby agrees to buy, upon the terms and conditions set forth, the following described horse(s), hereinafter referred to as "the horse(s)."
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3. PURCHASE PRICE: The total purchase price shall be $__________, payable according to the following terms: $________ down the remaining balance of $_________ due upon pickup from sellers' farm on or before __________, 2008. Horse (s) will be kept at sellers' farm until full payment is made on or before pickup.
Registration papers shall be delivered to Buyer only upon full payment of all principal and interest due, (if payment is made by personal check registration papers will be held until the check clears the bank). Sellers will provide health papers and proof of negative coggins for shipping purposes.
4. LIMITED WARRANTY: Seller warrants the description stated above, and guarantees all registration papers, transfers and breeding certificates for all horses.
5. LIMITED WARRANTY PURCHASE: Buyer accepts the horse(s) with only those warranties set forth above and subject to any and all other faults or defects that may now exist or subsequently appear. Express warranties: Sellers warrants horse(s) to be healthy with no debilitative injuries, current on all vaccinations, wormings and farrier work. (These items will be guaranteed by veterinary certification upon pickup, or shipment.)
The express warranties above are exclusive of all others. ALL IMPLIED WARRANTIES OF FITNESS, MERCHANTABILITY AND OTHERWISE ARE EXCLUDED.
6. PREPAYMENT PRIVILEGE: Buyer may prepay any portion of the unpaid principal balance at any time. Prepayments shall apply to the last principal installments falling due.
7. BUYER'S DEFAULT AND CURE: Should Buyer default in the timely payment of any principal or interest, or fail to fulfill any other obligation of this contract, the entire unpaid balance shall, upon written notice to Buyer of late payment or other default, automatically become due and payable together with interest on all amounts due at the rate of eighteen percent (18%) per annum, or the highest legal rate, whichever is less, from the date of such default until paid.
8. SELLER'S REMEDIES ON DEFAULT: Upon any default by Buyer that is not timely cured following proper notice, Seller shall have all rights and remedies provided by law, cumulatively, successively or concurrently, including but not limited to the following. Seller may take possession of the horse(s) without further notice to Buyer and without legal process, to the extent permitted by law, Seller may resell by public or private sale; if by private sale, Seller's customary methods of attracting potential buyers without public advertising shall be deemed reasonable. Ten (10) days' notice shall be deemed reasonable notice of resale. No delay or omission by Seller in exercising any right or remedy shall operate as a waiver of that or any other right or remedy, and no waiver of any Buyer's breach of Seller's right or remedy shall be deemed a waiver of any other or future breach, right or remedy.
9. NON-ASSIGNABILITY AND DUE ON SALE: Buyer's interest in the horse(s), foal(s), breeding right(s) and other rights and obligations under this contract may not be assigned or sold without Seller's prior written consent, which shall not be unreasonably withheld. All amounts due hereunder shall become immediately due and payable without notice if Buyer should sell or assign Buyer's interest in the horse(s), foal(s), breeding right(s), or obligations under this contract, or purport to do so, without Seller's prior written consent.
10. NOTICES: All notices, requests and consents required or permitted by this contract or for any other purpose shall be in writing, signed and personally delivered or mailed by registered or certified U.S. Mail to the appropriate address specified in paragraph 1 above, or such other address of which the sender has been given written notice.
11. APPLICABLE LAW, JURISDICTION AND ATTORNEY'S FEES: This contract shall be construed and governed by the laws of the state identified above the signature lines. At the option of Seller, jurisdiction and venue for any dispute arising under or in relation to this contract shall be only in the county and state identified above the signature lines. In the event lawsuit is brought with respect to this contract or Seller engages an attorney to repossess the horse(s), or collect amounts due, the prevailing party shall be entitled to reasonable attorneys' fees.
12. ENTIRE AGREEMENT AND SEVERABILITY: This contract contains the entire understanding of the parties concerning its subject matter; there are no oral or written promises or representations upon which Buyer is relying except as expressly set forth herein. This contract may be modified only in writing executed by both Buyer and Seller. Headings are for convenience only and are not part of this contract. The invalidity or unenforceability of any term or clause of this contract shall not affect the validity and enforceability of any other terms or clauses, but otherwise this contract is indivisible notwithstanding allocation of prices the parties may agree upon for tax, insurance or other reasons.
Dated this _______ day of ________, 2008, at Flemington (City), Missouri (State).