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California ate Purchaser Date _______________________ _______________________ _______________________ ________________________ Agent Date Agent Date __________________ _______________________ ________________________ Seller Date Seller Date _______________________ _______________________ _______________________ ________________________ Purchaser Duracy The following parties have reviewed the information above and certify, to the best of their knowledge, that the information they have provided is true and accurate. _______________________ _____t's Acknowledgment (initial) (e)------ Agent has informed the Seller of the Seller's obligations under 42 U.S.C. 4852d and is aware of his/her responsibility to ensure compliance. Certification of Acc-based paint and/or lead-based paint hazards; or (ii) _____ waived the opportunity to conduct a risk assessment or inspection for the presence of lead-based paint and/or lead-based paint hazards. Agen In Your Home. (e) Purchaser has (check (i) or (ii) below): (i) _____ received a 10-day opportunity (or mutually agreed upon period) to conduct a risk assessment or inspection for the presence of leadn the housing. Purchaser's Acknowledgment (initial) (c) _____ Purchaser has received copies of all information listed above. (d) _____ Purchaser has received the pamphlet Protect Your Family From Leadpaint hazards in the housing (list documents): ______________________________________________ (ii)____ Seller has no reports or records pertaining to lead-based paint and/or lead-based paint hazards i Records and reports available to the Seller (Check (i) or (ii) below): (i) _____ Seller has provided the Buyer with all available records and reports pertaining to lead-based paint and/or lead-based t hazards are present in the housing (explain): ______________________________________________ (ii) ____ Seller has no knowledge of lead-based paint and/or lead-based paint hazards in the housing. (b)s recommended prior to purchase. Seller's Disclosure (a) Presence of lead-based paint and/or lead-based paint hazards (Check (i) or (ii) below): (i) _____ Known lead-based paint and/or lead-based painards from risk assessments or inspections in the seller's possession and notify the Buyer of any known lead-based paint hazards. A risk assessment or inspection for possible lead-based paint hazards iry. Lead poisoning also poses a particular risk to pregnant women. The seller of any interest in residential real property is required to provide the Buyer with any information on lead-based paint hazoping lead poisoning. Lead poisoning in young children may produce permanent neurological damage, including learning disabilities, reduced intelligence quotient, behavioral problems, and impaired memol real property on which a residential dwelling was built prior to 1978 is notified that such property may present exposure to lead from lead-based paint that may place young children at risk of develeller _________________ - 13 - Buyer _________________ Disclosure of Information on Lead-Based Paint and/or Lead-Based Paint Hazards Lead Warning Statement Every Buyer of any interest in residentia__________________ ____________________________ ____________________________ Initials Seller _________________ - 12 - Buyer _________________ EXHIBIT "A" Legal Description of Property: Initials S_____________________________________________ (SEAL) Name typed, printed, or stamped ________________________________________________ My Commission Expires This instrument was prepared by: __________expressed. WITNESS my hand and official seal, this ___________ day of ___________, 20___. ________________________________________________ Signature of person taking acknowledgment (Notary Public) ___ known to me to be the person(s) described in and who executed the foregoing instrument, and acknowledged to and before me that _____________________ executed said instrument for the purposes therein ______________ - 11 - Buyer _________________ State of __________________________ ) ) ss County of ________________________) Before me personally appeared _____________________ to me well known andment (Notary Public) ________________________________________________ (SEAL) Name typed, printed, or stamped ________________________________________________ My Commission Expires Initials Seller ___or the purposes therein expressed. WITNESS my hand and official seal, this ___________ day of ___________, 20___. ________________________________________________ Signature of person taking acknowledg___ to me well known and known to me to be the person(s) described in and who executed the foregoing instrument, and acknowledged to and before me that _____________________ executed said instrument f__ Date ______________________________ Address: ___________________________ City _______________________________ State and Zip _______________________ Before me personally appeared _____________________________ State and Zip _______________________ State of __________________________ ) ) ss County of ________________________) Signature __________________________ Buyer ___________________________Zip _______________________ Signature __________________________ Buyer _____________________________ Date ______________________________ Address: ___________________________ City ______________________ Address: ___________________________ Address: ___________________________ City _______________________________ City _______________________________ State and Zip _______________________ State and ________________________ Signature __________________________ Seller __ ___________________________ Date ______________________________ Initials Seller _________________ - 10 - Buyer _______________ES. IN WITNESS WHEREOF, the Parties have hereunto set their hands and seals the day and year first above written. Signature __________________________ Seller __ ___________________________ Date ___________________ THIS IS INTENDED TO BE A LEGALLY BINDING CONTRACT. CONSULT AN ATTORNEY AND A TAX PROFESSIONAL BEFORE SIGNING IT, TO MAKE SURE YOU UNDERSTAND ALL OF THE TERMS AND LEGAL AND TAX CONSEQUENC_________________________________________________________ _____________________________________________________________________________ ________________________________________________________________g neighborhoods is not available through the "900" telephone service. ADDITIONAL AGREEMENTS Seller and Buyer additionally agree that: _____________________________________________ ____________________fication Line through which inquiries about individuals may be made. This is a "900" telephone service. Callers must have specific information about individuals they are checking. Information regardine. The data base is updated on a quarterly basis and a source of information about the presence of these individuals in any neighborhood. The Department of Justice also maintains a Sex Offender Identilocal law enforcement authorities maintain for public access a data base of the locations of persons required to register pursuant to paragraph (1) of subdivision (a) of Section 290.4 of the Penal Codument. REAL PROPERTY DISCLOSURE (Megan's Law Disclosure Notice: The California Department of Justice, sheriff's departments, police departments serving jurisdictions of 200,000 or more and many other instrument in writing signed by the party against which the enforcement of such waiver, modification, amendment, discharge or termination is sought, and then only to the extent set forth in such instrany and all oral agreements between the parties, as well as any prior writings. Neither this Contract nor any provision hereof may be waived, modified, amended, discharged, or terminated except by an l printed provisions in conflict therewith. ENTIRE AGREEMENT This Contract is the entire agreement between the parties with respect to the transaction contemplated herein.. It replaces and supersedes all include the female gender and the neuter, and vice versa. TYPEWRITTEN OR HANDWRITTEN PROVISIONS Typewritten or handwritten provisions inserted herein or attached hereto as Addenda shall control althe same Agreement. Initials Seller _________________ -9- Buyer _________________ INTERPRETATION Whenever the context hereof shall require, the singular shall include the plural, the male gender shn of any other provisions in the Agreement. COUNTERPARTS This Agreement may be executed in several counterparts, each constituting a duplicate original, but all such counterparts constituting one and d shall inure to the benefit of the parties hereto and their successors, heirs, executors, administrators, personal representatives and assigns. However, nothing shall authorize a transfer in violatio its rights or remedies under this contract, that party retains the right to enforce that term or provision at a later time. BINDING EFFECT This Agreement and covenants herein shall be binding upon anis contract at any time, that waiver will only be effective for the specific instance and specific purpose for which the waiver was given. If either party fails to exercise or delays exercising any ofnvalid or unenforceable and such provision shall be modified, amended or limited only to the extent necessary to render it valid and enforceable. WAIVER If one party waives any term or provision of th determines that any provision of this contract is invalid or unenforceable, any invalidity or unenforceability will affect only that provision and will not make any other provision of this contract iy's fees and court costs, and all other expenses, whether or not taxable by the court as costs, in addition to any other relief to which the prevailing party may be entitled. SEVERABILITY If any courtrbitrator. ATTORNEY FEES AND COSTS In connection with any litigation including appellate proceedings arising out of this Agreement, the prevailing party shall be entitled to recover reasonable attorne to be mutually selected. Judgment on the arbitration award may be entered in any court that has jurisdiction over the matter. Costs of arbitration, including lawyers' fees, will be allocated by the ach a mutually satisfactory compromise to the dispute. If the dispute is not resolved within 30 days after it is referred to the mediator, it will be arbitrated by ______________________. an arbitrator____________________. a mediator to be mutually selected. The parties will share the costs of the mediator equally. Each party will cooperate fully and fairly with the mediator and will attempt to read to the mediator, either party may take the matter to court. Mediation and Possible Arbitration. If a dispute arises, the parties will try in good faith to settle it through mediation conducted by __h party will cooperate fully and fairly with the mediator and will attempt to reach a mutually satisfactory compromise to the dispute. If the dispute is not resolved within 30 days after it is referre conducted by ______________________. a mediator to be mutually selected. Initials Seller _________________ -8- Buyer _________________ The parties will share the costs of the mediator equally. Eacs) Litigation. If a dispute arises, either party may take the matter to court. Mediation and Possible Litigation. If a dispute arises, the parties will try in good faith to settle it through mediationt, and all transactions contemplated hereby, shall be governed by, construed and enforced in accordance with the laws of the State of ________________________________. DISPUTES (select appropriate onee Property or any portion thereof, nor has Seller knowledge that any such action is presently contemplated which might or does affect the conveyance contemplated hereunder. GOVERNING LAW This agreemenITIGATION Seller warrants and represents that there are no legal actions, suits or other legal or administrative proceedings, including cases, pending or threatened or similar proceedings affecting thand "Buyer" herein employed shall be construed to include the plural as well as the singular, and the masculine shall include the feminine and neuter where the context so admits or requires. PENDING L of the Contract requires. Unless identified as Seller or Buyer, no real estate professional, escrow agent or closing agent is a party to this Contract. SINGULAR, PLURAL AND GENDER The words "Seller" be subject to the terms of this Contract. PARTIES If Seller or Buyer constitutes two or more persons, the terms "Seller" or "Buyer" shall be construed to read "Sellers" or "Buyers" whenever the senset the prior written consent by Seller. In the event Seller gives Buyer permission to transfer or convey Buyer's interest, such conveyance shall not be a cause for rescission of this Contract and shall____________________________ State and Zip _______________________ ASSIGNEMENT OR SALE BY BUYER Buyer shall not sell, assign, transfer or convey any interest in the Property or this Agreement, withou______ Address: ___________________________ City _______________________________ State and Zip _______________________ Buyer _____________________________ Address: ___________________________ City ________________ City _______________________________ State and Zip _______________________ Initials Seller _________________ -7- Buyer _________________ and if to Buyer: Buyer __________________________________________________ Address: ___________________________ City _______________________________ State and Zip _______________________ Seller _____________________________ Address: ______________rty's signature or to a new address that a party designates in writing. A notice may be delivered: (1) in person; (2) by certified mail; or (3) by overnight courier as follows: If to Seller: Seller __urred. NOTICES Any notice to be given or to be served upon any party hereto, in connection with this Contract, must be in writing, A notice may be delivered to a party at the address that follows a palid bank check, or valid cashier's check In the event of any reinstatement, this Security Instrument and any obligations secured hereby shall remain fully effective as if no acceleration had ever occotecting Seller's interest in the property, including, but not limited to, reasonable attorneys' fees. pay any reinstatement amounts and expenses by: cash, valid money order, valid certified check, va at that time under this Contract as if no acceleration had occurred; cures any default or other covenant or agreement; and reimburses all expenses incurred by Seller in enforcing this Contract and prlerated hereunder, Buyer shall have the right to reinstate this Contract as allowed by the laws of the State of _________________________, provided that Buyer: (a) (b) (c) (d) pays Seller all sums duevenant and agree to joint and several liability and obligations with respect to this Contract. REINSTATEMENT AFTER ACCELERATION If Buyer defaults under the terms of this Contract and payments are acce Such conveyance shall not be a cause for rescission of this Contract and shall be subject to the terms of this Contract JOINT AND SEVERAL LIABILITY If there is more than one Buyer, then all Buyers coimbursed be receiving credit to this Contract to apply to any payments that are due or will become due. CONVEYANCE BY SELLER The Seller reserves the right to convey, Seller's interest in the Property.yer's demand. If Seller defaults on any such mortgage or land contract, Buyer shall have the right to make any necessary payments or take any necessary actions to cure the default and Buyer will be rell obligations under the mortgage and to make all payments of principal and interest on the mortgage as they become due. Seller further agrees to produce evidence of any such payments to Buyer upon Bud balance under this Contract. Initials Seller _________________ -6- Buyer _________________ If Seller's interest in the Property is at any time encumbered by a mortgage, Seller agrees to perform aor to the rights of the Buyer, or may continue and renew any existing mortgage on the Property, as long as the total amount due on all outstanding mortgages is not, at any time, greater than the unpaif _____________________________________________. MORTGAGE BY SELLER During the lifetime of this contract, Seller may place a mortgage on the Property, which shall become a lien on the Property, superihe Seller may record a Notice of Termination of said Contract if the Buyer defaults in the performance of the Buyer's obligations and responsibilities under this Contract under the laws of the State oon, as it now exists, ordinary wear and tear excepted. Seller reserves the right to inspect the property at any time by giving Buyer reasonable notice. RECORDING While this Contract may be recorded, tt is terminated and Buyer is required to return the Property to Seller as may be required by the terms of this Contract, Buyer agrees to return the property to Seller in substantially the same conditimade, and advance money in that behalf, which sums advanced or costs of repairs shall be the obligation of the Buyer and shall be secured by this Contract. RETURN OF PROPERTY In the event this Contracf the Seller's title. In case of the refusal, neglect or inability of the Buyer to repair and maintain said Property, the Seller may, at the Seller's option, make such repairs or cause the same to be and will maintain the Property at all times in a state of good repair and condition, and will not do or permit to be done anything to the Property that will in any way impair or weaken the security oise, including reasonable attorney's fees, shall be paid by the Buyer, and all such sums are hereby secured by this agreement. MAINTENANCE OF PROPERTY The Buyer will not permit, commit or suffer wasten of the entire principal balance and any unpaid interest according to the laws of the State of ________________________________________ All costs and expenses of collection, by foreclosure, or otherw to Cure" that without further notice, the entire principal balance and any unpaid interest shall be due and payable immediately, and Seller may take any appropriate action against Buyer for collectioilure to cure the default or performance ("Notice of Failure to Cure") and informing the Buyer that if the default continues for an additional fifteen (15) days after service of the "Notice of Failure court action. Seller shall also be entitled to recover such other damages as they may be due which are caused by the acts or negligence of Buyer. (b) Give the Buyer a written notice specifying the faes that in the event of default which is not cured by Buyer and termination of this Contract, and if Buyer fails to vacate the Property, Seller shall have the right to obtain possession by appropriatehout being liable in any action in trespass, or otherwise, and to seek such self-help remedies or other remedies as shall place the Seller in exclusive possession of the premises. Buyer expressly agreshall be retained by the Seller in full satisfaction and liquidation of all damages sustained by the Seller. Seller shall have the right to reenter and to take immediate possession of the Property witr shall forfeit all payments made by him to date on this agreement (including taxes and assessments ) and said amount (paid to Seller) Initials Seller _________________ -5- Buyer _________________ after service of the "Notice of Failure to Cure" that without further notice, this Contract shall be cancelled and terminated and Seller may regain possession of the Property as provided herein. BuyeBuyer a written notice specifying the failure to cure the default or performance ("Notice of Failure to Cure") and informing the Buyer that if the default continues for an additional fifteen (15) daysre the default or performance. If the default or failure of performance is not cured within the 14 day time period, then Seller shall have, at Seller's option, any of the following remedies: (a) Give tract on or before the due date, Seller shall give Buyer a notice of default or performance ("Notice). The Notice shall state that Buyer is allowed fourteen (14) days from the date of the Notice to custs and reasonable attorney's fees from the Seller. DEFAULT BY BUYER If Buyer fails to make any payment due under this Contract or fails to perform any covenant, term or condition required by this Con comply with the terms of this Contract or to perform any of the covenants hereby made and entered into, the Buyer shall have the option to collect damages at law or to demand specific performance, co essence with respect to the terms and provisions of this Contract. The time of each payment shall also be an essential part of this contract. DEFAULT BY SELLER In case of the failure of the Seller toeful possession of the Property for as long as all payments due under this agreement are made in a timely manner and all other terms and covenants are complied with. TIME OF THE ESSENCE Time is of thel have twenty (20) days in which to deliver a warranty deed or equivalent deed. POSSESSION OF PROPERTY Upon execution of this Contract Buyer shall take possessions of the Property and shall enjoy peacREPAYMENT The Buyer may prepay the entire balance outstanding at any time without penalty and without notice. Such prepayment shall not include unearned interest. Upon full prepayment, the Seller shalnd any corporation, authority or agency having the power of eminent domain whereby the Buyer voluntarily conveys to such agency, authority, or corporation in order to avoid condemnation proceedings. Pdeficiency between the amount of the award and the outstanding obligations of the Buyer. d. The provisions of this Paragraph shall apply also to any settlement or agreement reached between the Buyer athe Seller, excluding unearned interest, the contract shall nevertheless be terminated as previously provided in this paragraph, but the Seller shall be authorized to sue for a money judgment for any - Buyer _________________ property herein included which was not taken by eminent domain. In the event the amount of the award is insufficient to satisfy the outstanding obligations of the Buyer to earned interest, and the balance of the award shall be paid to the Buyer. The contract will thus be consummated and the Seller will convey to the Buyer any of the Initials Seller _________________ -4he property at the time of the taking, then the award shall be paid to the Seller to the extent that is necessary to pay out the contract, such sum including accrued interest to date, but excluding unrket value after the completion of such repairs or alterations as may have been necessitated by the condemnation. c. If the amount taken is more than seventy-five (75%) percent of the total value of tse before the remaining portion of the award is turned over to the Seller for reduction of the debt. In determining the value of the uncondemned portion of the property, the value shall be the fair mapayment shall continue unaffected by the taking. However, such sums as are necessary for the useful alteration or restoration of the uncondemned portion of the property shall be applied for such purpooperty not taken is equal to twice the remaining outstanding indebtedness under the contract, the balance of the award shall be paid to the Buyer, and the contract as thus accelerated as to the final 's indebtedness under the contract, then so much of the award shall be paid to the Seller as to reduce the outstanding indebtedness of the Buyer under the contract to a point where the value of the prt, then the entire award shall be paid to the Buyer and the contract shall continue unaffected by the taking, but, (2) if the value of the property remaining is less than twice the amount of the Buyerless than seventy-five (75%) percent of the total value at the time of the taking, (1) if the value of the property remaining is equal to twice the amount of the Buyer's indebtedness under the contracg, the entire award shall be paid to the Buyer and the contract shall continue unaffected by the taking. b. If the amount taken is more than fifty (50%) percent of the total value of the property but ring the existence of this contract, the rights and obligations shall be as follows: a. If the amount taken is less than fifty (50%) percent of the total value of the property at the time of the takinaining after application of such proceeds to the costs of repair or reconstruction shall be paid by the Buyer. EMINENT DOMAIN In the event that any or all of the property is taken by eminent domain du the purpose of paying for the repairs or reconstruction. Any surplus of insurance proceeds over and above the costs of repair or reconstruction shall be delivered to the Buyer, and any deficiency remue of the land immediately prior to the casualty. If requested by the Buyer, the Seller will, after approval of the Buyer's building plans, turn over the insurance proceeds to an insurance trustee for Buyer _________________ submit the building plans to the Seller for approval, which approval shall be granted if the value of the land after the repair or reconstruction will equal or exceed the val the Buyer elects to repair or reconstruct, the insurance proceeds shall be applied by the Seller to the costs of such repair or reconstruction, the Buyer shall Initials Seller _________________ -3- to the account of the Buyer and the Buyer will continue to make regular payments pursuant to the terms of the contract until the Buyer's obligations are satisfied and the contract consummated. (2) Ifn. In the event the contract is not paid out as a result of the application of the insurance process pursuant to an election not to repair or reconstruct after casualty, the proceeds shall be creditedll be paid to the Buyer. In the event that the contract is paid out as a result of the application of the insurance proceeds, the Seller shall deliver a deed to the Buyer and consummate the transactioller become due and payable forthwith, and the insurance proceeds shall be applied towards the application of such sum, any surplus of the insurance proceeds over and above the Buyer's obligations sha) If the Buyer elects not to repair or reconstruct, then the unpaid balance of the purchase price, together with accrued interest to ate, but excluding unearned interest, shall at the option of the Se and/ or building(s) is in excess of fifty (50%) percent of the total value of the improvements, the Buyer shall have the option as to whether to repair or reconstruct following such casualty loss. (1rance funds over and above the costs of repair or reconstruction, and the Buyer being liable for any deficiency after application of the insurance money to such costs. b. If the damage to the Propertybe, and the Seller shall either turn over the insurance proceeds to the Buyer or apply the proceeds directly to the costs of such repair or reconstruction, the Buyer being entitled to any surplus insus: a. If the damage to the Property and/ or building(s) is less than fifty (50%) percent of the total value of the improvements, the Buyer shall be obligated to repair or reconstruct, as the case may ess than its full insurable value. All insurance proceeds shall be payable to the Seller. In the event of a loss by fire or other casualty, the rights and obligations of the parties shall be as followr. The Buyer agrees to keep the Property insured, by at least content, liability, fire, casualty, hazard, and windstorm, insurance, with an insurance company satisfactory to the Seller for a sum not lpositions that may be legally levied or imposed upon said land apportioned as of the date of this Contract. RISK OF LOSS AND INSURANCE Risk of loss by negligence, fire or other casualty is on the Buyeject also to applicable zoning ordinances and real estate taxes for the year in which the deed is delivered, and thereafter. TAXES AND ASSESSMENTS The Buyer agrees to pay all taxes, assessments, or im limitations, reservations, covenants and conditions of record not coupled with a possibility of reverter, right of reentry or other reverter right which amounts to a qualification of the fee, and suber _________________ -2- Buyer _________________ TITLE Title shall be conveyed free and clear of all encumbrances except those mortgages or liens, if any, mentioned herein, easements, restrictions,eller's expense, deliver a Statutory or General Warranty Deed to the Property to Buyer, free and clear of any liens or encumbrances other than taxes and assessments for the current year. Initials Sellon, and/or the location of the boundaries of the Property. DEED AND EVIDENCE OF TITLE Upon payment of the total purchase price and other amounts, including any late charge, by Buyer, Seller will, at Suyer further understands that Seller has not made and does not make any representations or warranties of any kind as to the condition of the Property, buildings, improvements or fixtures located there of the security for the performance of this contract and shall not be removed from the Property. AS-IS CONDITION OF PROPERTY Buyer accepts the Property "as-is" without any type of warranty thereon. BContract. All improvements on the Property, including, but not limited to, buildings, fixtures, trees or other improvements now on the Property, or hereafter made or placed thereon, shall also be partlance of the payment shall be applied to the principal SECURITY This Contract shall stand as security for the performance of Buyer and as security of the payment of the obligation of Buyer under this eafter, until the ___ day of _____, 20___, when all remaining principal and interest shall be paid. Any interest that may be charged, shall be computed monthly and deducted from the payment and the ba in monthly installments of _____________________ Dollars ($_____________) beginning on the ________ day of _____________________, 20 ___, and continuing on the ______ day of each and every month thershall be due. [ _________ / __________ ] The principal sum of _____________________ Dollars ($_____________) with interest on the whole sum at the rate of _________ ( ____%) percent per annum, payable________) beginning on the ________ day of _____________________, 20 ___, and continuing on the ______ day of each and every month thereafter until the ____ day of ______, 20__ when the final payment thereafter, until paid in full. [ _________ / __________ ] The principal sum of _____________________ Dollars ($_____________) payable in monthly installments of _____________________ Dollars ($_____yable in monthly installments of _____________________ Dollars ($_____________) beginning on the ________ day of _____________________, 20 ___, and continuing on the ______ day of each and every monthreby acknowledged. [ _________ / __________ ] The principal sum of _____________________ Dollars ($_____________) with interest on the whole sum at the rate of _________ ( ____%) percent per annum, pa- Buyer _________________ [ _________ / __________ ] _________________________________________ Dollars ($____________) paid to the Seller upon execution of this agreement, the receipt of which is hee Seller the sum of _____________________ Dollars ($_____________) as the purchase price for the Property, as follows (select and initial one or more that apply): Initials Seller _________________ -1_______________________________________________________ ______________________________________________________________ (Excluded Items) PRICE AND PAYMENT Buyer herein covenants and agrees to pay to th a part of the Property: ____________________________________________________________________________ ____________________________________________________________________________ __________________________________ ______________________________________________________________ (Included Items). The following items are specifically excluded from this contract and shall not be transferred to Buyer ass; attic and ceiling fans; builtin kitchen appliances; and: ____________________________________________________________________________ _______________________________________________________________ens; curtain and drapery rods; awnings; automated garage door openers and remote control units; keys; attached humidifiers; attached outside cooking units; attached fireplace screens and/or glass doored TV antennas and cables; lighting and light fixtures; plumbing equipment and fixtures; attached mirrors; linoleum; wall-to-wall carpet; window and porch shades; blinds; storm windows and doors; scrend clear of all liens and encumbrances, including: gas heaters; propane tanks (including propane if owned); central heating, ventilation and air conditioning equipment and fixtures; sump pumps; attachsale of the Property shall also include the following fixtures and personal property associated with the Property (unless specifically excluded below), all of which (if any) are owned by Seller free arty (and the term "Property") shall include all buildings and improvements on the property and all right, title and interest of Seller in and to adjacent streets, roads, alleys and rights-of-way. The ) situated in the County of _____________________, State of ________________________________________, more fully described on Exhibit "A", attached hereto and made a part hereof. The sale of the Prope executors, administrators, personal representatives, or assigns, in fee simple absolute, clear of all encumbrances by a good and sufficient warranty deed or equivalent deed, that Property ("Property" the Buyer shall first make the payments and perform the covenants hereinafter mentioned on his part to be made and performed, the Seller hereby covenants and agrees to convey to the Buyer, his heirs,__________________, (hereinafter referred to as "Seller"), and ____________________________________________, (hereinafter referred to as "Buyer"), collectively referred to Parties. WITNESSETH, that ifey whenever a document is negotiated with another party. 2 CONTRACT FOR DEED THIS CONTRACT FOR DEED is made and entered into this_____ day of ___________, 20 ___, by and between ____________________ver a document is negotiated with another party. These forms should only be a starting point for you and should not be used without consulting with an attorney first. You should also consult an attornld also consult with an attorney and a tax professional to make sure that all legal and tax consequences of this Contract are fully explained and understood. An attorney should also be consulted whene from state to state. These forms should only be a starting point for you and should not be used or signed without consulting an attorney first to make sure it fits your particular situation. You shouould be consulted to make sure all legal and tax consequences are clear. This information and these forms are not intended as and are not a substitute for legal advice. Laws vary from time to time and may also have its own laws and regulations regarding lead paint. The Buyer and the Seller must make sure that all the terms of the Contract are fully understood. An attorney and a tax professional sht 1 http://www.hud.gov/offices/lead/outreach/leapame.pdf and. Additional information can also be found on the EPA site at: http://www.epa.gov. Please note that the state where the property is locatedlead poisoning prevention. An Environmental Protection Agency's pamphlet entitled "Protect Your Family From Lead In Your Home." can be found at: http://www.epa.gov/opptintr/lead/pyfcameraeng.pdf and aefore selling pre-1978 housing, Sellers must disclose the presence of known lead-based paint and/or lead-based paint hazards in the dwelling. Buyers must also receive a federally approved pamphlet on e 1978 may contain lead-based paint. Lead from paint, paint chips, and dust can pose health hazards if not managed properly. Lead exposure is especially harmful to young children and pregnant women. Br or attorney, or call your state's attorney general's office. Most states with mandatory disclosure laws have created state approved forms that can be used to make the disclosure. Housing built befor by law, a Buyer may still request the disclosures and try to make them part of the contract.. To find out if your state has any mandatory disclosure laws, you can check with a local real estate brokene what additional disclosures, if any, are required in your state. In some of these states, a seller may still be required to make the disclosure, even if the property is sold "as is" If not requiredquire a seller to make additional written disclosures, including disclosures about the condition of the house and any known problems. Check with a real estate agent or attorney in your area to determit for Deed contains an AS-IS clause regarding the property. You can also choose between different payment methods i.e. with interest, with no interest, balloon payment etc... The law in some states resually lower than transactions involving mortgages, banks or other institutional type lenders. A Contract for Deed also allows Seller to gain interest income from the outstanding balance. This Contracions where the Buyer can't easily obtain financing from other sources or other financing may not be even available to Buyer. Generally, the closing costs associated with this type of transaction are us entitled to possession and equitable title to the property. The Seller holds legal title and continues to be liable for payment of any underlying mortgage. This type of Agreement is useful in situate Buyer completes the required payments, the Seller must deliver valid legal title by way of a deed. During the period of the contract, the Buyer makes installment payments on the purchase price and ie title to the Buyer once all the payments under the Agreement are made and all other obligations are met. In essence, the Seller finances the purchase and holds the title or deed as security. When thso know as a Land Contract, Agreement for Deed, Contract Sale or Real Estate Installment Agreement. This type of Document allows the Seller to retain the title to the property and agree to transfer thth another party. [_] The purchase and use of these forms is subject to the Disclaimers and Terms of Use found at findlegalforms.com. Information Contract for Deed A Contract for Deed is sometimes aly and a tax professional to make sure that all legal and tax consequences of this Contract are fully explained and understood. An attorney should also be consulted whenever a document is negotiated wi a starting point for you and should not be used or signed without consulting an attorney first to make sure it fits your particular situation. The Buyer and Seller should also consult with an attorne. This notice is included in this Agreement. [_] These forms are not intended and are not a substitute for legal advice. Laws vary from time to time and from state to state. These forms should only bey and every contract for sale of residential real property comprising one to four dwelling units, contain a notice under "Megan's Law" regarding the availability of a registered sex offenders databaseBuyer may still request the disclosures and try to make them part of the contract. [_] California Civil Code section 2079.10a requires that every lease or rental agreement for residential real propert that need to be included.. Check with a real estate agent or attorney in your area to determine what additional disclosures, if any, are required in your state or locality. If not required by law, a closures about the condition of the house, the neighborhood, environmental disclosures and any other known problems. Some cities and other municipalities may also have specific disclosure requirementsckage. [_] These forms contain the basic terms and language that should be included in similar agreements. The law in some states require a seller to make additional written disclosures, including disnt Hazards" for a minimum of three years as proof of compliance with the rules. A copy of the "Disclosure Of Information On Lead-Based Paint and/or LeadBased Paint Hazards" form is included in this paOf Information On Lead-Based Paint and/or Lead-Based Paint Hazards". Federal law requires the Seller to keep the signed copy of the "Disclosure Of Information On Lead-Based Paint and/or Lead-Based Pai original signatures of all parties. [_] If the property is built before 1978 property (i.e. pre-1978 property), federal law requires that the Seller and Buyer (and their Agents) sign the "Disclosure (4) Disclosure Of Information On Lead-Based Paint and/or Lead-Based Paint Hazards. [_] Each party should sign two copies of the final draft of the Contract. Each party should receive one copy with theInstructions and Checklist California Contract for Deed [_] This package contains (1) Instructions and Checklist for Contract for Deed; (2) Information about Contract for Deed; (3) Contract for Deed; California