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Arkansas _______________________________________________ Signature of person taking acknowledgment (Notary Public) ________________________________________________ Name typed, printed, or stamped -2- me this _____ day of _______________, ______ by __________________________ (name of Principal), who is personally known to me or who has produced ________________________________ as identification. ___________________________ State: ___________________________________ State of __________________________ ) ) ss County of ________________________ ) The foregoing instrument was acknowledged before ____ City: __________________________________ State: ___________________________________ Witness Signature: ___________________________________ Name: ___________________________________ City: ___________________ (city), ______________________ (state). ________________________________ Signature of Principal Witness Signature: ___________________________________ Name: _______________________________ while acting under the authority of this Power of Attorney. I may revoke this Power of Attorney at any time by providing written notice to my Agent. Signed on ________________ (date), at ____________nt shall not be liable for losses resulting from judgment errors made in good faith. However, Agent will be liable for breach of fiduciary duty, failure to act in good faith and/or willful misconduct,l the third party has actual knowledge of the revocation. I agree to indemnify the third party for any claims that arise against the third party because of reliance on this power of attorney. -1- Agefect and not be affected by any partial invalidity. Any third party who receives a copy of this document may act under it. Revocation of the power of attorney is not effective as to a third party untiisbursed. If any part of this document is held to be invalid, illegal or unenforceable under applicable law, then the remaining unaffected parts of the document shall still remain in full force and ef to reimbursement of all reasonable expenses incurred as a result of carrying out any provision of this Power of Attorney. Agent may be required to provide an accounting of all funds received and/or dacity" shall mean a lack of capacity to receive and evaluate information effectively, to communicate decisions, and/or to manage my financial resources and affairs properly. My Agent shall be entitledpurchased and the transaction is completed or in the event of my death, disability or incapacity, or upon my revocation of this document, whichever occurs first. As used herein, "disability" or "incape effective immediately upon execution of this instrument. The rights, powers, and authority of this document shall remain in full force and effect thereafter until the above described real estate is t, shall lawfully do or cause to be done by virtue of this power of attorney and the rights hereby granted. This Limited Power of Attorney and the rights, powers, and authority of my Agent shall becom, searches and inspections of the property, pay funds for such purchase and do all other things necessary and appropriate to complete the transaction. I hereby ratify and confirm all acts that my Agenruments, warranties, releases, mortgages, applications or deeds necessary for such transaction, retain lawyers, accountants or brokers, apply for and obtain necessary loans, arrange for investigations______________________ __________________________________________________________________________________ This limited power shall include the right to complete and execute any and all documents, inst________________________________________________________ __________________________________________________________________________________ __________________________________________________________________________________________________________________________ (Address of property) and legally described as (insert legal description or attach exhibit and write "see attached exhibit"): ___________lawful attorney-in-fact for me and in my name, and in my behalf with full power to: Purchase and acquire on my behalf the real estate located at: _________________________________ ____________________________________ do hereby make and appoint ________________________________________ ("Agent") maintaining an address at: _________________________________________________________________ my true and PURCHASE OF REAL ESTATE KNOW ALL PERSONS BY THESE PRESENTS: I, ____________________________________ ("Principal") maintaining an address at ____________ ______________________________________________orney if you later wish to do so. AGENT: By accepting or acting under the appointment, the agent assumes the fiduciary and other legal responsibilities of an agent. -3- LIMITED POWER OF ATTORNEY FORr agent, within the scope of this power of attorney document, is legally binding upon you. If you have any questions about these powers, obtain competent legal advice. You may revoke this power of attPrincipal") are providing another person ("Agent") with the power to purchase certain real estate on your behalf and to take all actions necessary to accomplish this. Any such action undertaken by youinstructions included with the forms packages offered for sale, generally include state specific instructions. -2- CAUTION! PRINCIPAL: Before signing this document, consider its consequences. You ("ease note that this information is not intended as and is not a substitute for legal advice. Furthermore, this information is general information that is not state specific. Whenever appropriate, the to be recorded as a public record, if necessary. Although, some states don't require a Limited Power of Attorney for Purchase of Real Estate to be witnessed, it is always a very good idea to do so. Plf your state does not require it. Notarization will make it more difficult for any third party to challenge the validity of the Limited Power of Attorney for Purchase of Real Estate and will allow it ney. The Agent should be a competent adult. The Grantor can revoke a General Power of Attorney at any time. The Limited Power of Attorney for Purchase of Real Estate should always be notarized, even iney" is not used here to mean "lawyer". The person acting as the Attorney-In-Fact for the Principal does not need to be a lawyer. Almost anyone can be appointed an Attorney-In-Fact by a power of attorurchased and the transaction is completed; or (b) in the event of death or incapacity of the Principal; or (c) if the Principal revokes the document (whichever occurs first). Note that the word "attoring the real estate specified in the Limited Power of Attorney for Purchase of Real Estate form. This particular form becomes effective immediately and remains effective until (a) the Real Estate is pal Estate allows a "mentally" competent natural person (called the "Principal" or "Grantor") to authorize someone else (called the "Agent" or "Attorney-In-Fact") to act on his or her behalf in purchas your behalf. This may occur if, for example, you (i.e. the Buyer) reside in another city and will not be available to handle the transaction personally. A Limited Power of Attorney for Purchase of Rem -1- Information Limited Power of Attorney for Purchase of Real Estate A situation may arise, where it may be necessary to appoint another person as your agent to purchase a piece of real estate ont. An Attorney should be consulted before negotiating any document with another party. [_] The purchase and use of these forms is subject to the Disclaimers and Terms of Use found at findlegalforms.con-Fact). [_] These forms are not intended and are not a substitute for legal advice. These forms should only be a starting point for you and should not be used without consulting with an attorney firsAgent should have access to the original document as needed. [_] The Principal should also be very careful in the selection of the Agent and should be careful in instructing the Agent (i.e. Attorney-ibe competent adults. Anyone related by blood or marriage to the Principal, the Agent or the Notary should not be a witness. [_] The Principal should keep the original document, as well as a copy. The zation will allow the Limited Power of Attorney for Purchase of Real Estate to be recorded as a public record, if necessary. [_] Two witnesses need to sign the Power of Attorney. The witnesses should incipal revokes the document (whichever occurs first). [_] The Principal (i.e. the person granting the Power of Attorney; sometimes called the Grantor) should sign the document before a Notary. Notaricomes effective immediately and remains effective until (a) the Real Estate is purchased and the transaction is completed; or (b) in the event of death or incapacity of the Principal; or (c) if the Prormation for Limited Power of Attorney for Purchase of Real Estate; and (3) Limited Power of Attorney for Purchase of Real Estate Form [_] This Limited Power of Attorney for Purchase of Real Estate beInstructions & Checklist Limited Power of Attorney for Purchase of Real Estate [_] This package contains (1) Instructions & Checklist for Limited Power of Attorney for Purchase of Real Estate; (2) Inf Arkansas