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Connecticut ----------- Seller ------------------ Purchaser ------------------ Agent ------------------ Date ------------------ Date ------------------ Date they have provided is true and accurate. ------------------ Seller ------------------ Purchaser ------------------ Agent ------------------ Date ------------------ Date ------------------ Date -------e of his/her responsibility to ensure compliance. Certification of Accuracy The following parties have reviewed the information above and certify, to the best of their knowledge, that the information the presence of lead-based paint and/or lead-based paint hazards. Agent's Acknowledgment (initial) (e)------ Agent has informed the Seller of the Seller's obligations under 42 U.S.C. 4852d and is award) to conduct a risk assessment or inspection for the presence of lead-based paint and/or lead-based paint hazards; or (ii) _____ waived the opportunity to conduct a risk assessment or inspection for ____ Purchaser has received the pamphlet Protect Your Family From Lead In Your Home. (e) Purchaser has (check (i) or (ii) below): (i) _____ received a 10-day opportunity (or mutually agreed upon periocords pertaining to lead-based paint and/or lead-based paint hazards in the housing. Purchaser's Acknowledgment (initial) (c) _____ Purchaser has received copies of all information listed above. (d) _e records and reports pertaining to lead-based paint and/or leadbased paint hazards in the housing (list documents): ______________________________________________ (ii)____ Seller has no reports or reof lead-based paint and/or lead-based paint hazards in the housing. (b) Records and reports available to the Seller (Check (i) or (ii) below): (i) _____ Seller has provided the Buyer with all availablor (ii) below): (i) _____ Known lead-based paint and/or lead-based paint hazards are present in the housing (explain): ______________________________________________ (ii) ____ Seller has no knowledge A risk assessment or inspection for possible lead-based paint hazards is recommended prior to purchase. Seller's Disclosure (a) Presence of lead-based paint and/or lead-based paint hazards (Check (i) uired to provide the Buyer with any information on lead-based paint hazards from risk assessments or inspections in the seller's possession and notify the Buyer of any known lead-based paint hazards. , reduced intelligence quotient, behavioral problems, and impaired memory. Lead poisoning also poses a particular risk to pregnant women. The seller of any interest in residential real property is reqad from lead-based paint that may place young children at risk of developing lead poisoning. Lead poisoning in young children may produce permanent neurological damage, including learning disabilitiesazards Lead Warning Statement Every Buyer of any interest in residential real property on which a residential dwelling was built prior to 1978 is notified that such property may present exposure to le_________________________ State and Zip ________________________ 18 Initials Seller _________________ Buyer _________________ Disclosure of Information on Lead-Based Paint and/or Lead-Based Paint Hshall not excuse performance by the Buyer. By:_________________________________ (Earnest Money Holder Signature) Name: ______________________________ Address: ____________________________ City ______ Earnest Money under the Contract and the terms of the Contract are acknowledged. If payment was made by check, this acknowledgment is subject to clearance of the check. Failure of clearance of funds nd agrees by acceptance thereof to promptly deposit and to hold same in escrow and to disburse same subject to clearance thereof in accordance with terms and conditions of Contract. The receipt of the____________________ State and Zip _______________________ 17 Initials Seller _________________ Buyer _________________ EARNEST MONEY RECEIPT Any Earnest Money Holder receiving funds is authorized atate and Zip _______________________ Signature __________________________ Buyer _____________________________ Date ______________________________ Address: ___________________________ City _________________________ Signature __________________________ Buyer _____________________________ Date ______________________________ Address: ___________________________ City _______________________________ Se __________________________ Seller __ ___________________________ Date ______________________________ Address: ___________________________ City _______________________________ State and Zip _____________ Seller __ ___________________________ Date ______________________________ Address: ___________________________ City _______________________________ State and Zip _______________________ SignaturA 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 CONSEQUENCES. Signature ______________________ITTEN OR HANDWRITTEN PROVISIONS Typewritten or handwritten provisions inserted herein or attached hereto as Addenda shall control all printed provisions in conflict therewith. THIS IS INTENDED TO BE given. If either party fails to exercise or delays exercising any of its rights or remedies under this contract, that party retains the right to enforce that term or provision at a later time. TYPEWRenforceable. WAIVER If one party waives any term or provision of this contract at any time, that waiver will only be effective for the specific instance and specific purpose for which the waiver was provision and will not make any other provision of this contract invalid or unenforceable and such provision shall be modified, amended or limited only to the extent necessary to render it valid and ________________ Buyer _________________ SEVERABILITY If any court determines that any provision of this contract is invalid or unenforceable, any invalidity or unenforceability will affect only that. INTERPRETATION Whenever the context hereof shall require, the singular shall include the plural, the male gender shall include the female gender and the neuter, and vice versa. 16 Initials Seller _ successors and assigns. COUNTERPARTS This Agreement may be executed in several counterparts, each constituting a duplicate original, but all such counterparts constituting one and the same Agreement any part of this agreement OR [ _______ / _______ ] Buyer may assign this Contract. BINDING EFFECT This Agreement shall be binding upon and shall inure to the benefit of the parties hereto and theirnd construed in accordance with the laws of the state of ______________________________________. ASSIGNABILITY (select one and initial) [ _______ / _______ ] Buyer is prohibited from assigning all oreto. HEADINGS Headings used in this Agreement are provided for convenience only and shall not be used to construe the meaning or intent of any term. GOVERNING LAW This contract will be governed by all of such representations and warranties shall survive the closing and shall not be affected by any investigation, verification or approval by any party hereto or by anyone on behalf of any party her representations and warranties set forth in this Contract shall be continuing and shall be true and correct on and as of the closing date with the same force and effect as if made at that time, and a presently contemplated which might or does affect the conveyance contemplated hereunder. 15 Initials Seller _________________ Buyer _________________ SURVIVAL OF REPRESENTATIONS AND WARRANTIES Theother legal or administrative proceedings, including cases, pending or threatened or similar proceedings affecting the Property or any portion thereof, nor has Seller knowledge that any such action isment ("Effective Date") shall be the date when the last one of the Seller and Buyer has signed this offer. PENDING LITIGATION Seller warrants and represents that there are no legal actions, suits or rnest Money shall be returned to Buyer. The offer may be withdrawn by the offering party before acceptance by written notice to the other party before acceptance. EFFECTIVE DATE The date of the Agreeration Date") at _______ (time) unless earlier accepted by signing and returning it to the offering party. If both parties don't sign this Agreement before the expiration date, then any deposits or EaOF OFFER If this Contract is first prepared and signed by one party and delivered to the other, it shall (before signed by the receiving party) constitute an offer that expires on _____________ ("Expi State and Zip _______________________ Seller _____________________________ Address: ___________________________ City _______________________________ State and Zip _______________________ EXPIRATION _______________ City _______________________________ State and Zip _______________________ Buyer _____________________________ Address: ___________________________ City ____________________________________________ Address: ___________________________ City _______________________________ State and Zip _______________________ and if to Buyer: Buyer _____________________________ Address: ____________e 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 ________________Any notice to be given or to be served upon any party hereto, in connection with this Agreement, must be in writing, A notice may be delivered to a party at the address that follows a party's signaturlly agree that: ______________________________________ _______________________________________________________________________ 14 Initials Seller _________________ Buyer _________________ NOTICES ____________________________ _______________________________________________________________________ _______________________________________________________________________ Seller and Buyer additionaL AGREEMENTS _______________________________________________________________________ _______________________________________________________________________ ___________________________________________ting 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 instrument. ADDITIONAgreements between the parties, as well as any prior writings. Neither this Agreement nor any provision hereof may be waived, modified, amended, discharged, or terminated except by an instrument in wri party to this Contract. ENTIRE AGREEMENT This Contract is the entire agreement between the parties with respect to the transaction contemplated herein.. It replaces and supersedes any and all oral ayer" shall be construed to read "Sellers" or "Buyers" whenever the sense of the Contract requires. Unless identified as Seller or Buyer, no real estate professional, escrow agent or closing agent is aing out of this Contract, the prevailing party shall be entitled to recover reasonable attorney's fees and costs. PARTIES If Seller or Buyer constitutes two or more persons, the terms "Seller" or "Buion over the matter. Costs of arbitration, including lawyers' fees, will be allocated by the arbitrator. ATTORNEY FEES AND COSTS In connection with any litigation including appellate proceedings arisit is referred to the mediator, it will be arbitrated by ______________________. an arbitrator to be mutually selected. Judgment on the arbitration award may be entered in any court that has jurisdict equally. Each 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 hrough mediation conducted by 13 Initials Seller _________________ Buyer _________________ ______________________. a mediator to be mutually selected. The parties will share the costs of the mediatorthin 30 days after it is referred 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 tsts of the mediator equally. Each 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 wiitigation. If a dispute arises, the parties will try in good faith to settle it through mediation conducted by ______________________. a mediator to be mutually selected. The parties will share the cond this shall be the sole remedy of Buyer under this Agreement. DISPUTES (select appropriate ones) Litigation. If a dispute arises, either party may take the matter to court. Mediation and Possible L Buyer may (1) enforce specific performance of the Contract and pursue any other available legal remedies or both or (2) demand a refund of the deposit in termination of this contract, in which case aquidated damages since both Buyer and Seller agree that actual damages for default or breach of contract could not readily be ascertained at the date of execution of this Agreement If Seller defaults, as liquidated damages and Seller agrees to accept and take said deposit as Seller's total damages and relief hereunder in such event. In such event the parties agree that said sum shall constitute liherein or by law. If Buyer defaults, Seller may (1) enforce specific performance of the Contract and pursue any other available legal remedies or both or (2) cancel this contract and claim the deposityer or Seller either hereunder or by law shall be cumulative and not alternative and the exercise of one right, power, option or remedy shall not bar other rights, powers, options or remedies allowed efault. Following a material default by either Buyer or Seller, the other party may pursue any remedies or damages available at law or in equity. All rights, powers, options or remedies afforded to Buiness day. DEFAULTS AND REMEDIES. Failure of either party to comply with any material covenant, agreement, or obligation within the time limits required by this Contract shall constitute a material dutation thereof, exclude Saturdays, Sundays and legal holidays, and any time period provided for herein which shall end on a Saturday, Sunday or legal holiday shall extend to 5:00 p.m. of the next bus_________ 12 Initials Seller _________________ Buyer _________________ TIME Time is of the essence of this Contract. Any reference herein to time periods of less than six (6) days shall in the comp Both will pay any loan origination fees. Both will pay any _____________________________________ Both will pay any _____________________________________ Both will pay any ____________________________r Seller Buyer Buyer Buyer Buyer Buyer Buyer Buyer Both will pay any Survey work. Both will pay any recording of purchase money mortgage (if any) Both will pay any recording any corrective instruments insurance commitment. Seller Buyer Both will pay any premium payable for the title commitment and title policy (i.e. title insurance) issued pursuant thereto. Seller Seller Seller Seller Seller Selle intangible tax required by law on the mortgage. Seller Buyer Both will pay any All recording costs, including recording of the deed, mortgage, and any documents required in connection with the title Seller Buyer Both will pay any transfer tax when title passes. Seller Buyer Both will pay any Documentary stamps which are required to be affixed to the Warranty Deed; Seller Buyer Both will pay anye costs and expenses in connection with the Closing shall be paid as follows (select whichever applies. Check both if cost is split 50/50 between buyer and seller. Delete the one(s) that don't apply):______________________ ______________________________________________________________________________ _________________________________________________________________ (Other or none) CLOSING COSTS Ththe amount set forth in this Agreement and any required mortgage, mortgage note, security agreement and financing statement and _______________ ________________________________________________________ce by Seller of its obligations set forth in the Contract, Buyer shall deliver to Seller, cashier check or 11 Initials Seller _________________ Buyer _________________ other immediate local funds in instruments that may be required in connection with perfecting the title. PURCHASER'S OBLIGATIONS AT CLOSING Subject to the terms, conditions and provisions hereof, and concurrently with the performan Deed or ______________ conveying the Property to Buyer subject to any limitations set forth above : b. Furnish closing statement, mechanic's lien affidavit, assignments of leases, and any corrective _______________ ____________________________________________________ SELLER'S OBLIGATION AT CLOSING At Closing, Seller shall do the following: a. Execute, acknowledge, and deliver to Buyer a Warrantyiii) (iv) (v) Other: ___________________________________________________ ______________________________________________________________________ _______________________________________________________d above, if any; Any variance in the amount of said mortgage from the amount stated herein shall be added to or deducted from either the cash payment or the second mortgage as the Seller may elect. (oning ordinances of record, and other requirements imposed by governmental authority, if any; public utility easements of record, if any; Mortgage to be assumed or purchase money mortgages as describee title subject only to: (i) (ii) taxes and assessments for year of closing and subsequent years; Restrictions and matters appearing on the plat or otherwise common to the subdivision, easements and zall rights against Seller as to such intervening defect except as may be available to Buyer by virtue of warranties, if any, contained in deed. RESTRICTIONS, EASEMENTS, LIMITATIONS The Buyer shall taksuch repayment, Buyer shall vacate the Property and reconvey same to the Seller by special warranty deed. In the event Buyer fails to make timely demand for refund, he shall take title as is, waiving In the event Seller fails to timely cure said defect, all monies paid hereunder shall, upon written demand therefore and within five (5) days thereafter, be returned to Buyer and, simultaneously with unmarketable, Buyer shall within said five (5) day period, notify Seller in writing of the defect and Seller shall have thirty (30) days from date of receipt of such notification to cure said defect. t as may be mutually agreed 10 Initials Seller _________________ Buyer _________________ upon for a period of not longer than five (5) days from and after closing date. If Seller's title is rendered ces or change which would render Seller's title unmarketable from the date of the last evidence, and the cash proceeds of sale shall be held in escrow by Seller's attorney or by such other escrow agenree and clear of all trash, debris and furnishings. The deed shall be recorded upon clearance of funds and evidence of title continued at Buyer's expense, to show title in Buyer, without any encumbrancess, shall control, anything in this contract to the contrary notwithstanding. Unless otherwise agreed by the parties, Buyer shall have possession of the Property immediately following the closing, fion of the purchase price is to be derived from an institutional mortgagee, the requirements of said mortgagee as to time of day, place and procedures for closing, and for disbursement of mortgage proday of ______ 20 __, unless extended by other provisions of Contract, or by written agreement of the Parties. The "Closing" shall take place at a mutually convenient place and time. However, if a portsments that become a lien on the property after the date of closing. CLOSING AND POSSESSION This transaction shall be closed ("Closing") and the deed and other closing papers delivered on the ______ h the sale of the Property is closed (exclusive of rebates and penalties) that are a lien on the Property shall be prorated between the parties as of the Closing Date. Buyer will pay any special assesustments. This provision shall survive closing. OR [_____ / _____ ] Unless the parties agree otherwise, all prorations shall be final. SPECIAL ASSESSMENTS Any special assessments for the year in whic fixed for the year in which the closing occurs, Seller and Buyer agree to adjust the proration of taxes and, if necessary, to refund or pay, as the case may be, an amount necessary to effect such adjd "date of occupancy" if occupancy occurs prior to closing, unless otherwise provided for herein. ADJUSTMENTS (select and initial one) [_____ / _____ ] Subsequent to the closing, when the tax rate isvent premiums shall be prorated. The cash at closing shall be increased or decreased as may be required by said prorations. All references in Contract to prorations as of date of closing will be deemethe current year's taxes based on the information available on the Closing Date. Buyer shall have the option of taking over any existing policies of insurance on the Property, if assumable, in which eied within the preceding year and the actual taxes based on the new value are not available, they will 9 Initials Seller _________________ Buyer _________________ agree to a reasonable estimation of ased on the preceding year's levy at the more current assessed value, if ascertainable, and the estimated amount prorated. The parties also agree that if the Property has been reappraised or reclassifhe latest assessed valuation. However, if the Property was materially improved following the determination of the assessed value upon which the prior year's taxes were based, taxes will be estimated bapplicable law. If the closing shall occur before the tax rate is fixed for the then current year, the apportionment of taxes shall be upon the basis of the tax rate of the preceding year applied to tand revenue of the Property shall be prorated as to the date of closing for the year of closing (on a 30-day-month, 360-day-year basis) and thereafter shall be the responsibility of Buyer, subject to absolute bill of sale with warranty of title, subject to such liens as may be otherwise provided for herein. TAX AND OTHER PRORATIONS Taxes, assessments, rent, interest, insurance and other expenses yer a marketable fee simple title to the Property free and clear of all liens and encumbrances, except as provided in this Contract. Personal property shall, at the request of Buyer, be conveyed by anl execute, transfer and deliver marketable title to the property to Buyer by a warranty deed and take all other steps reasonably necessary to complete the closing. The warranty deed shall convey to Bu, all such information shall be returned to Seller together with any information that Buyer may have compiled with respect to the Property. DELIVERY OF DEED On or before the Closing Date, Seller shal to the Property, and all such information may be used by Buyer in such manner as it desires; provided that in the event Buyer fails to purchase the Property for any reason other than Seller's defaultAND STUDIES Upon the execution hereof, Seller shall furnish to Buyer all engineering plans, drawings, surveys, artist's renderings and economic and financial studies which Seller has, if any, relatings and liabilities arising hereunder shall terminate, or Buyer may close this transaction in the same manner as if no defects had been found without reduction in the Purchase Price. ENGINEERING PLANS ent for the curing of defects of title. If the Seller shall fail to remove or cure said encroachments within the period of time, then the deposit this day paid shall be returned to Buyer and all rightty herein described encroach on other lands, written notice of that effect shall be given to the Seller and Seller shall have the same time to remove such encroachments as is allowed under this AgreemL SURVEY A survey shall shall not be made of the Property prior to the closing date. If the survey shows encroachments on the Property herein described, or that the improvements located on the Properll bills for work to the Property which could serve as a basis for a mechanic's lien have been paid or will be paid at closing. 8 Initials Seller _________________ Buyer _________________ PROFESSIONAiers, and material men, in addition to Seller's lien affidavit setting forth the names of all such general contractors, subcontractors, suppliers and material men and further reciting that, in fact, a prior to the Closing Date. If the property has been improved within said time, Seller shall deliver releases or waivers of all mechanic's liens, executed by general contractors, subcontractors, suppl, claim, lien, or potential lien known to Seller with respect to, the Property, and further attesting that there have been no improvements to the Property for one hundred twenty (120) days immediatelyposits held by mortgagee shall be credited to Seller. LIEN AFFIDAVIT Seller shall furnish to Buyer at closing an affidavit attesting to the absence of any security interest in, or financing statementson in excess of $________, the Buyer may rescind the Contract unless Seller elects to pay such increase or excess. Buyer shall use reasonable diligence to obtain approval. The amount of any escrow de not approve the Buyer, the Buyer may rescind the contract (and any earnest money will be returned to Buyer), or b) the mortgagee requires an increase in the interest rate or charges a fee for any reahe mortgage(s) is in good standing. If a mortgage requires approval of the Buyer by the mortgagee in order to avoid default, or for assumption by the Buyer of said mortgage, and: a) the mortgagee doesS Seller shall furnish to Buyer within twenty (20) days from execution hereof a statement from all mortgagee(s) (if any) setting forth principal balance, method of payment, interest rate and whether tpany for issuance of this coverage. Unless otherwise agreed or if not available for reasons other than any act of Seller, Buyer's title policy will include mechanic's lien coverage. EXISTING MORTGAGEn, or right to a lien, for services, labor or material imposed by law and not shown by the public records. Seller agrees to cooperate with, and comply with the requirements of, the title insurance combrought about by Buyer and exceptions permitted according to this Contract. The policy shall also insure Buyer as of the date of recording of the deed or other instrument of conveyance against any liey in the amount of the Purchase Price insuring marketable fee simple title in Buyer from and after the Closing Date, subject only to exceptions for any liens, encumbrances or other matters created or his Agreement, whereupon the deposit described herein shall be returned to Buyer and this Agreement shall be of no further force and effect. Seller Buyer shall pay for an owner's title insurance polici) accept title subject to the objections raised by Buyer, without an adjustment in the purchase price, in which event said objections shall be deemed to be waived for all purposes, or (iii) rescind tif extended by Buyer in Buyer's discretion), Buyer may, at its option: (i) 7 Initials Seller _________________ Buyer _________________ extend the time period for Seller to satisfy said objections, (iits best efforts to eliminate or modify all unacceptable matters to the reasonable satisfaction of Buyer. If Seller does not remedy any title defects before the Closing Date (or reasonably later date event that the condition of title is not acceptable, Buyer shall state which exceptions to the Title Commitment are unacceptable. Seller shall, at its sole cost and expense promptly undertake and use en notice within ten (10) days after receipt of the title commitment, if the condition of title as set forth in such Title Commitment and survey is not satisfactory in Buyer's sole discretion. In the pon the recording of the deed. This title insurance commitment shall be delivered to Buyer as soon as practicable, but at least fifteen (15) days before the Closing Date. Buyer shall give Seller writtd by one copy of all documents affecting the Property, and which constitute exceptions to the Title Commitment. The title commitment shall commit to insure a marketable fee simple title in the Buyer uler's sole cost and expense, shall cause a title insurance company mutually acceptable to the Parties ("Title Company") to issue and deliver to Buyer a title commitment ("Title Commitment") accompanieents of the Property for one (1) year from the Closing Date. The warranty plan cost shall not exceed $_________________. The charge for the warranty plan will be paid at closing. TITLE Seller, at Selutable warranty plan provider, subject to a per claim deductible not to exceed $____________. This warranty plan will be a limited service contract covering repair or replacement of the working compon damage, or (b) Buyer may of cancel the Contract and receive return of any Earnest Money deposit(s) made hereunder. WARRANTY PLAN Seller Buyer agrees to pay for a homebuyer's warranty plan from a rep as is, together with either a credit for the said ____% or any insurance proceeds payable by virtue of such loss or damage or an assignment of the right to Seller's insurance proceeds for the loss orscrowed at closing. In the event the cost of repair or restoration exceeds ____% of the assessed valuation of the improvements so damaged, Buyer shall have the option of either (a) taking the Property_% of the assessed valuation of the improvements so damaged, cost of restoration shall be an obligation of the Seller and closing shall proceed pursuant to the terms of Contract with costs therefore eferred to as fire and extended coverage insurance) is assumed by Seller. If the improvements are damaged by fire or other casualty prior to closing, and the costs of restoring same does not exceed ___se is closed and the warranty deed delivered to Purchaser, the risk of loss by fire, windstorm, earthquake, flood or other casualty (including those causes that could be covered by what is commonly reInitials Seller _________________ Buyer _________________ CASUALTY LOSS Seller agrees to keep the improvements on the Property fully insured until delivery of Seller's deed to Buyer. Until the purchafor installation or extension of water, sanitary or sewer service, if such charges have been incurred before the date of closing. Buyer will pay for the charges incurred after the date of closing. 6 date of possession. If the utilities are left Seller will pay the utility bills until closing. UTILITY CHARGES Seller will pay any other charges made against the property by any government authority is a part of the Property was built after 1978 and so Seller makes no statement about the existence of any lead-based paint. UTILITIES Seller will on, Buyer will not leave all utilities on until the ______ / _______ ] Buyer and Seller have signed a separate Lead Paint Disclosure form, attached to this Contract and made a part hereof. OR [ _______ / _______ ] Seller represents that the house that nstalling Radon reduction equipment acceptable to Buyer, then Buyer may cancel this Contract and the Earnest Money shall be refunded to Buyer. LEAD PAINT DISCLOSURE (initial the one that applies) [ _mplying with federal law and the law of the jurisdiction where the Property is located. If the level of Radon gas exceeds four picocuries per liter (4pCi/L) and Seller refuses to pay for the cost of ind pay for a report concerning the level of Radon gas in the Property and provide the report to Buyer at least fifteen (15) days prior to closing. The report shall be made by a reputable inspector, co located. Additional information about Radon and Radon testing may be obtained from the state or county public health officer. (Initial if this applies) [ ________ / _________ ] Seller shall arrange aities, may present health risks to persons who are exposed to it over time. Levels of Radon that exceed federal and state guidelines may have been found in buildings in the state where the Property isreceive a credit at closing of an amount equal to _____% of said Purchase Price. RADON TESTING Radon is a natural occurring radioactive gas that, when it accumulates in a building in sufficient quanto Seller and the Earnest Money shall be refunded to Buyer, or Buyer may elect to 5 Initials Seller _________________ Buyer _________________ proceed with the transaction, in which event Buyer shall he Purchase Price. Should such costs exceed that amount, Buyer shall have the option of canceling Contract within five (5) days after receipt of contractor's repair estimate by giving written notice ter and supported by the written opinion of qualified inspector(s) is given to Seller as set forth in this section, Seller shall pay valid costs for treatment and repair of all damage up to _____% of tg financing, inspection, treatment and repairs will be done within thirty (30) days before closing. If written notice of any unsatisfactory condition (other than active pest infestation) signed by Buy by a reputable, licensed pest control firm selected by Seller. Seller will provide Buyer with a certificate evidencing such treatment and Buyer agrees to accept that certificate. If Buyer is obtaininy) shall be provided by Buyer to Seller. In the event that an inspection reveals that there is active pest infestation, Seller agrees to pay to have the Property treated for control of the infestation Seller agrees to provide access for inspection upon reasonable notice. Buyer shall pay for any damage to the Property resulting from any inspection. A copy of a pest inspector's written report (if an have waived any warranty that Seller may have given in this Contract as to failures not reported. Valid reported failures shall be corrected at Seller's cost with funds therefore escrowed at closing.d not to be in working condition prior to taking of possession thereof, or six (6) days prior to closing, whichever is first. Unless Buyer reports failures within said period, Buyer shall be deemed tooperty by licensed persons dealing in the repair and maintenance thereof. Buyer shall give written notice to Seller, together with a copy of the written report(s) by the inspector(s) of any items fountioning, foundation, basement, crawlspace, roof, attic, structural components, environmental hazards, and pest infestation or damage and all other physical matters which may affect the value of the Prense, have inspections made of the Property. This may include, but not be limited to, inspections of appliances, plumbing, electrical and mechanical systems, central heating, ventilation and air condiear excepted. In the event of any material change in the condition of the Property before closing, Seller shall promptly notify Buyer. MECHANICAL, PEST AND OTHER INSPECTIONS Buyer may, at Buyer's exp____________________________________________ Seller shall maintain the Property (including any lawn, shrubbery and/or pool) in its present condition through the date of possession, ordinary wear and t________________ ___________________________________________________________________________ ___________________________________________________________________________ _______________________________n. Seller warrants that all major appliances, heating, cooling, electrical, plumbing systems, and machinery are in working condition as of six (6) days prior to closing,), except for the following: __r Representative(s) has made at least a casual inspection of the Property. To the best of Seller's knowledge, there are no physical problems with the property that would not be apparent upon inspectio Seller and Buyer has signed this offer. 4 Initials Seller _________________ Buyer _________________ PHYSICAL CONDITION OF PROPERTY AND EQUIPMENT Buyer acknowledges that Buyer or Buyer's Agent(s) oEarnest Money shall be, at the option of the Buyer, returned to him and this offer shall thereafter be null and void. The date of Contract ("Effective Date") shall be the date when the last one of theBuyer or authorize the escrow agent or Earnest Money holder, to do so. TIME FOR ACCEPTANCE AND EFFECTIVE DATE If this offer is not executed by both of the parties hereto on or before __________, the t becomes voidable. After the required date and until the contingency is removed, either party may cancel this contract by written notice to the other. In that case, Seller will return the deposit to le to complete the purchase of the Property without selling Buyer's property. REMOVAL OF CONTINGENCIES If any contingency in this contract is not removed in writing by the required date, this contracontract for sale of Buyer's property and Buyer's financing for the purchase of the Property is approved by Buyer's lender subject only to the sale of Buyer's property; or (ii.) Buyer is financially ab contingency of this Contract (as applicable). Buyer shall not exercise the option to continue this Contract and complete the purchase of the Property unless: (i.) Buyer has entered into a bona fide cr a non-refundable fee of $______________ (to be applied to the Purchase Price at closing) and agree in writing to remove both the contingency respecting the sale of Buyer's property and any financingshall have _____________________ days from receipt of Seller's written notice about the other offer to exercise the option of continuing this Contract. To exercise this option, Buyer must pay to Selle______________________. Seller may continue to offer the Property for sale. If Seller accepts another bona fide offer before the sale and closing of Buyer's property, Seller shall notify Buyer. Buyer __________________. [ _______ / _______ ] The sale and closing of Buyer's property located at _______________ ____________________________________________________________________________ on or before d within _____ days after the title insurance commitment is received by Purchaser. [ _______ / _______ ] Buyer obtaining and acquiring all the necessary approvals and permits to use the property for _to Purchaser. This contingency is to be removed by ___________________________. [ _______ / _______ ] Approval of the title insurance commitment by Purchaser's lawyer. This contingency is to be removesfactory to Purchaser. This contingency is to be removed by __________________________. [ _______ / _______ ] A stake survey or survey report at Purchaser's expense resulting in findings satisfactory r _________________ Buyer _________________ [ _______ / _______ ] A review of public and private building and use requirements affecting the property at Purchaser's expense resulting in findings satienvironmental inspection of the property at Purchaser's expense resulting in findings satisfactory to Purchaser. This contingency is to be removed by _______________________________. 3 Initials Selle ] An architect's inspection of the property at Purchaser's expense resulting in a report satisfactory to Purchaser. This contingency is to be removed by ___________________. [ _______ / _______ ] An ______ ] A contractor's inspection of the property at Purchaser's expense resulting in a report satisfactory to Purchaser. This contingency is to be removed by ___________________. [ _______ / _______gency is to be removed by ____________________. ADDITIONAL CONTINGENCIES This contract is also contingent upon satisfactory completion of the following items (initial those that apply): [ _______ / _ation for, and to use reasonable diligence to obtain said loan. Should Buyer fail to obtain same or to waive Buyer's rights hereunder within said time, Buyer may cancel Contract. This financing contin loan within _______ days from the date hereof, at an interest rate not to exceed _______ percent (____%); of _______ years; and in the principal amount of $______________. Buyer agrees to make applicin such notice. SALE CONTINGENCIES If the purchase price or any part thereof is to be financed by a third party loan, this Contract, is conditioned upon the Buyer obtaining a firm commitment for saidwithin ___________ days of receipt of written notice of cancellation of this Contract (as the case may be), then such failure shall constitute consent to disbursement of the Earnest Money as provided ritten notice of pending disbursement sent by certified or registered mail from the third party Earnest Money holder, if any, or (ii) make written demand for return or forfeiture of the Earnest Money if there is neither a dispute regarding disbursement of the Earnest Money nor a written consent to distribution and either party fails to: (i) respond in writing within ________ days of receipt of a wrpleader or similar action and is authorized to pay the funds to the Clerk of the Court where the Property is located for disposition according to the order of the Court. Buyer and Seller agree that, less permitted to do so by applicable law. If Buyer and Seller are unable to agree in writing upon the disbursement of the Earnest Money or any other funds, the third party holder may commence an inteird party holding the Earnest Money (or any other amount paid pursuant to this Contract before closing) will be directed not to disburse those funds without the written consent of Buyer and Seller, unansaction does not close. 2 Initials Seller _________________ Buyer _________________ Notwithstanding other provisions in this Contract regarding the refund or forfeiture of the Earnest Money, any th by Buyer pursuant to any terms of this, any accrued interest shall be accrued for the benefit of Buyer and either applied toward the purchase price at closing or returned to Buyer in the event the trOSITS If the holder of the Earnest Money is someone other than Seller, that holder shall be instructed to deposit the funds in an insured escrow account. Unless, the Earnest Money is somehow forfeitedin cash or by cashier's check subject to adjustments and prorations. TOTAL (earnest money + amount financed + loan assumption + cash balance at closing) $________________ EARNEST MONEY AND OTHER DEPent of cancellation by Buyer, any Earnest Money shall be returned to Buyer. 4. [ _________ / __________ ] Buyer will pay the balance of $______________ on or before the "Closing Date" (defined below) o Seller, within ten (10) days following the lender's response to request for assumption by Buyer, cancel this Contract, or Buyer may elect to complete the purchase with alternate financing. In the evtaining such consent without change in the terms of the Mortgage Loan and without any fee. If any required consent cannot be obtained as set forth herein, then Buyer may, at Buyer's option by notice tted (the "Mortgage Loan"). Buyer agrees to pay the Mortgage Loan according to its terms. If the lender's consent to the assumption of the Mortgage Loan is required, this Contract is contingent upon oble as to principal and interest $__________ per month, having an approximate present principal balance of $______________________, now of record in the offices of the county where the Property is locang upon a certain promissory note secured by a first mortgage or deed of trust on the Property in favor of ____________________________________________ bearing interest at _______% per annum and payabe insurance premiums, or closing costs, if any) is $____________ ("Finance Amount"). 3. [ _________ / __________ ]Buyer also assumes and agrees to pay, as a part of the Purchase Price, the balance owiy Holder") upon signing this Contract. This deposit is to be credited against the Purchase Price. 2. [ _________ / __________ ] The total amount to be financed by Buyer (not including financed mortgagal and fill out the one(s) that apply) 1. [ _________ / __________ ] Buyer shall pay an earnest money deposit ("Earnest Money") in the amount of $______________ to _____________________ ("Earnest Mone____________________ ___________________________________________________ (Excluded Items) PURCHASE PRICE The Purchase Price for the Property is: $___________________ (Purchase Price). PAYMENT (initirt of the Property: __________________________________________________________________ __________________________________________________________________ ____________________________________________________________ ________________________________________________________ (Included Items). The following items are specifically excluded from this contract and shall not be transferred to Buyer as a pad/or glass doors; attic and ceiling fans; built-in kitchen appliances; and: __________________________________________________________________ _________________________________________________________and doors; screens; curtain and drapery rods; awnings; automated garage door openers and remote control units; keys; attached humidifiers; attached outside cooking units; attached fireplace screens anp pumps; attached 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 y Seller free and clear of all liens and encumbrances, including: gas heaters; propane tanks (including propane if owned); central heating, ventilation and air conditioning equipment and fixtures; sumts-of-way. The sale 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 ben in Attachment 1. The sale of the 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 righ_____________________ __________________________________________________________________ __________________________________________________________________ The legal description of the property is giv_______________________________ _______________________________________________ (Common Description). The legal description of the property is as follows: _____________________________________________rty and the improvements thereon (the "Property") commonly known as: ____________________________ __________________________________________________________________ ____________________________________________________, ("Buyer"). The Effective Date shall be the date of signature by the later party to sign this Contract. PROPERTY TO BE SOLD Seller shall sell and Buyer shall buy the following prope another party. 2 Residential Real Estate Sale Contract PARTIES This Residential Real Estate Sale Contract (the "Contract") is made by and between __________________________, ("Seller"), and _______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 with 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 should also consult with an attorney s and regulations regarding lead paint. This information and these forms are not intended as and are not a substitute for legal advice. Laws vary from time to time and from state to state. These formsfices/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 located may also have its own lawon. 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 at http://www.hud.gov/ofhousing, 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 lead poisoning preventi-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. Before selling pre-1978 your local agents and lenders may be used to seeing, you may want to check with a local agent or lender if the use of another form will create a problem. 1 Housing built before 1978 may contain leady of this report, available only in PDF Format, you must visit www.findlegalforms.com/public/RE/CTDISC.pdf . Since this Contract may be a little different than the types of Real Estate Sale Contracts tory disclosure laws have created state approved forms that can be used to make the disclosure. For Connecticut, the seller must complete a "Property Condition Disclosure Report." To obtain a free copontract.. To find out if your state has any mandatory disclosure laws, you can check with a local real estate broker or attorney, or call your state's attorney general's office. Most states with mandastates, a seller may still be required to make the disclosure, even if the property is sold "as is" If not required by law, a Buyer may still request the disclosures and try to make them part of the ce condition of the house and any known problems. Check with a real estate agent or attorney in your area to determine what additional disclosures, if any, are required in your state. In some of these nate a time and date by which the contract must be signed and returned before it expires. The law in some states require a seller to make additional written disclosures, including disclosures about thof contract is prepared by the buyer and presented as a formal offer. However, the seller may initiate the preparation of the contract as well. The contract allows the person making the offer to desiginspections, title matters and more. This agreement is for transactions that do not involve a Broker and where the Buyer is obtaining a new loan and/or assuming an existing loan. Generally, this type cess the house (which is being sold) is owned by someone else). The Agreement provides for the traditional terms between a seller and buyer, including financing contingencies, surveys, pest and other f property. This contract does not address water rights (which may be important for oceanfront or lakefront property) or easements and rights of "ingress and egress" (i.e. when the property used to ac form can be used by a buyer and a seller of a free-standing residential home. Another type of form is required for the sale of condominiums, cooperative apartments, farmland and other special kinds o any real estate property is sold, a written agreement should be used to document the transaction and to set forth the terms between the Seller and the Buyer. The Residential Real Estate Sale Contractd with another party. [_] The purchase and use of these forms is subject to the Disclaimers and Terms of Use found at findlegalforms.com 2 Information Residential Real Estate Sale Contract Wheneverey and a 1 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 negotiatebe 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 the Seller should consult with an attornures and try to make them part of the contract. [_]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 ith 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 Buyer may still request the disclos house, the neighborhood, environmental disclosures and any other known problems. Some cities and other municipalities may also have specific disclosure requirements that need to be included.. Check wbasic terms and language that should be included in similar agreements. The law in some states require a seller to make additional written disclosures, including disclosures about the condition of theyears 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 package. [_] These forms contain the int and/or Lead-Based Paint Hazards". Federal law requires Seller to keep the signed copy of the "Disclosure Of Information On Lead-Based Paint and/or Lead-Based Paint Hazards" for a minimum of three s etc.) [_] If the property is built before 1978 property (i.e. pre-1978 property), federal law requires that Sellers and Buyers (and their Agents) sign the "Disclosure Of Information On Lead-Based Pagnatures of all parties. [_] The parties to the Contract must be aware of the various deadlines contained in the Contract, relating to various acts (i.e. obtaining financing, inspections, title matteroth parties, it creates a binding obligation to purchase the property. [_] Each party should sign two copies of the final draft of the contract. Each party should receive one copy with the original situtes a formal offer. The contract allows the person making the offer to designate a time and date by which the contract must be signed and returned before it expires. Once the Contract is signed by b This agreement is for transactions that do not involve a Broker and where the Buyer is obtaining a new loan and/or assuming an existing loan. [_] When signed by one party, this signed contract constisidential Real Estate Sale Contract; (3) Residential Real Estate Sale Contract (including Earnest Money Receipt); (4) Disclosure Of Information On Lead-Based Paint and/or Lead-Based Paint Hazards. [_]Instructions & Checklist Residential Real Estate Sale Contract Connecticut [_] This package contains (1) Instructions and Checklist for Residential Real Estate Sale Contract; (2) Information about Re Connecticut