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Wyoming ---------------- Buyer ------------------ Date ------------------ Seller ------------------ Date ------------------ Agent ------------------ Date ------------------ ------------------ Date o the best of their knowledge, that the information they have provided is true and accurate. ------------------ Seller ------------------ Buyer Date ------------------ Agent ------------------ Date --ller's obligations under 42 U.S.C. 4852d and is aware of his/her responsibility to ensure compliance. Certification of Accuracy The following parties have reviewed the information above and certify, tnity to conduct a risk assessment or inspection for the presence of lead-based paint and/or lead-based paint hazards. Agent's Acknowledgment (initial) (e)------ Agent has informed the Seller of the Se a 10-day opportunity (or mutually agreed upon period) to conduct a risk assessment or inspection for the presence of lead-based paint and/or lead-based paint hazards; or (ii) _____ waived the opportur has received copies of all information listed above. (d) _____ Buyer has received the pamphlet Protect Your Family From Lead In Your Home. (e) Buyer has (check (i) or (ii) below): (i) _____ received_______________________________ (ii)____ Seller has no reports or records pertaining to lead-based paint and/or lead-based paint hazards in the housing. Buyer's Acknowledgment (initial) (c) _____ Buyei) below): (i) _____ Seller has provided the Buyer with all available records and reports pertaining to lead-based paint and/or leadbased paint hazards in the housing (list documents): ________________________________________________ (ii) ____ Seller has no knowledge of lead-based paint and/or lead-based paint hazards in the housing. (b) Records and reports available to the Seller (Check (i) or (ience of lead-based paint and/or lead-based paint hazards (Check (i) or (ii) below): (i) _____ Known lead-based paint and/or lead-based paint hazards are present in the housing (explain): _____________session and notify the Buyer of any known lead-based paint hazards. A risk assessment or inspection for possible lead-based paint hazards is recommended prior to purchase. Seller's Disclosure (a) Presomen. The seller of any interest in residential real property is required to provide the Buyer with any information on lead-based paint hazards from risk assessments or inspections in the seller's posoduce permanent neurological damage, including learning disabilities, reduced intelligence quotient, behavioral problems, and impaired memory. Lead poisoning also poses a particular risk to pregnant wor to 1978 is notified that such property may present exposure to lead from lead-based paint that may place young children at risk of developing lead poisoning. Lead poisoning in young children may prclosure of Information on Lead-Based Paint and/or Lead-Based Paint Hazards Lead Warning Statement Every Buyer of any interest in residential real property on which a residential dwelling was built pri__________________ Address: ____________________________ City _______________________________ State and Zip ________________________ 18 Initials Seller _________________ Buyer _________________ Disis subject to clearance of the check. Failure of clearance of funds shall not excuse performance by the Buyer. By:_________________________________ (Earnest Money Holder Signature) Name: ____________ordance with terms and conditions of Agreement. The receipt of the Earnest Money under the Agreement and the terms of the Agreement are acknowledged. If payment was made by check, this acknowledgment RECEIPT Any Earnest Money Holder receiving funds is authorized and agrees by acceptance thereof to promptly deposit and to hold same in escrow and to disburse same subject to clearance thereof in acc__________ Address: ___________________________ City _______________________________ State and Zip _______________________ 17 Initials Seller _________________ Buyer _________________ EARNEST MONEY_________________________ City _______________________________ State and Zip _______________________ Signature __________________________ Buyer _____________________________ Date _______________________ City _______________________________ State and Zip _______________________ Signature __________________________ Buyer _____________________________ Date ______________________________ Address: __________________ State and Zip _______________________ Signature __________________________ Seller __ ___________________________ Date ______________________________ Address: ________________________ND LEGAL AND TAX CONSEQUENCES. Signature __________________________ Seller __ ___________________________ Date ______________________________ Address: ___________________________ City _______________nted provisions in conflict therewith. THIS IS INTENDED TO BE A LEGALLY BINDING AGREEMENT. CONSULT AN ATTORNEY AND A TAX PROFESSIONAL BEFORE SIGNING IT, TO MAKE SURE YOU UNDERSTAND ALL OF THE TERMS Aight to enforce that term or provision at a later time. TYPEWRITTEN OR HANDWRITTEN PROVISIONS Typewritten or handwritten provisions inserted herein or attached hereto as Addenda shall control all priiven. If either 16 Initials Seller _________________ Buyer _________________ party fails to exercise or delays exercising any of its rights or remedies under this Agreement, that party retains the rforceable. WAIVER If one party waives any term or provision of this Agreement at any time, that waiver will only be effective for the specific instance and specific purpose for which the waiver was govision and will not make any other provision of this Agreement invalid or unenforceable and such provision shall be modified, amended or limited only to the extent necessary to render it valid and ennder and the neuter, and vice versa. SEVERABILITY If any court determines that any provision of this Agreement is invalid or unenforceable, any invalidity or unenforceability will affect only that prsuch counterparts constituting one and the same Agreement. INTERPRETATION Whenever the context hereof shall require, the singular shall include the plural, the male gender shall include the female gehall inure to the benefit of the parties hereto and their successors and assigns. COUNTERPARTS This Agreement may be executed in several counterparts, each constituting a duplicate original, but all __ / _______ ] Buyer is prohibited from assigning all or any part of this agreement OR [ _______ / _______ ] Buyer may assign this Agreement. BINDING EFFECT This Agreement shall be binding upon and s____ GOVERNING LAW This Agreement will be governed by and construed in accordance with the laws of the state of ______________________________________. ASSIGNABILITY (select one and initial) [ _____ADINGS Headings used in this Agreement are provided for convenience only and shall not be used to construe the meaning or intent of any term. 15 Initials Seller _________________ Buyer _____________ch 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 hereto. HEresentations and warranties set forth in this Agreement shall be continuing and shall be true and correct on and as of the Closing with the same force and effect as if made at that time, and all of sun thereof, nor has Seller knowledge that any such action is presently contemplated which might or does affect the conveyance contemplated hereunder. SURVIVAL OF REPRESENTATIONS AND WARRANTIES The reps and represents that there are no legal actions, suits or other legal or administrative proceedings, including cases, pending or threatened or similar proceedings affecting the Property or any portioty before acceptance. EFFECTIVE DATE The date of the Agreement ("Effective Date") shall be the date when the last one of the Seller and Buyer has signed this offer. PENDING LITIGATION Seller warrantreement before the expiration date, then any deposits or Earnest Money shall be returned to Buyer. The offer may be withdrawn by the offering party before acceptance by written notice to the other pary) constitute an offer that expires on _____________ ("Expiration Date") at _______ (time) unless earlier accepted by signing and returning it to the offering party. If both parties don't sign this Ag_______ State and Zip _______________________ EXPIRATION OF OFFER If this Agreement is first prepared and signed by one party and delivered to the other, it shall (before signed by the receiving part______________________ City _______________________________ State and Zip _______________________ Buyer _____________________________ Address: ___________________________ City _______________________________________________________ State and Zip _______________________ 14 Initials Seller _________________ Buyer _________________ and if to Buyer: Buyer _____________________________ Address: _____________ Address: ___________________________ City _______________________________ State and Zip _______________________ Seller _____________________________ Address: ___________________________ City 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 _____________________otice 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 signature or _________________________________________ _______________________________________________________________________ _______________________________________________________________________ NOTICES Any n_________________________ _______________________________________________________________________ _______________________________________________________________________ ______________________________ only to the extent set forth in such instrument. ADDITIONAL AGREEMENTS Seller and Buyer additionally agree that: ______________________________________ ______________________________________________ed, discharged, or terminated except by an instrument in writing signed by the party against which the enforcement of such waiver, modification, amendment, discharge or termination is sought, and thenplated herein. It replaces and supersedes any and all oral agreements between the parties, as well as any prior writings. Neither this Agreement nor any provision hereof may be waived, modified, amendeal estate professional, escrow agent or closing agent is a party to this Agreement. ENTIRE AGREEMENT This Agreement is the entire agreement between the parties with respect to the transaction contemconstitutes two or more persons, the terms "Seller" or "Buyer" shall be construed to read "Sellers" or "Buyers" whenever the sense of the Agreement requires. Unless identified as Seller or Buyer, no r with any litigation including appellate proceedings arising out of this Agreement, the prevailing party shall be entitled to recover reasonable attorney's fees and costs. PARTIES If Seller or Buyer over the matter. Costs of arbitration, including lawyers' fees, will be allocated by the arbitrator. 13 Initials Seller _________________ Buyer _________________ ATTORNEY FEES AND COSTS In connections 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 jurisdiction ally. 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 it i 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 costs of the mediator equmpromise to the dispute. If the dispute is not resolved within 30 days after it is referred to the mediator, either party may take the matter to court. Mediation and Possible Arbitration. If a disputetor 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 reach a mutually satisfactory corty 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 mediation conducted by ______________________. a media deposit in termination of this Agreement, in which case and this shall be the sole remedy of Buyer under this Agreement. DISPUTES (select appropriate ones) Litigation. If a dispute arises, either pa date of execution of this Agreement If Seller defaults, Buyer may (1) enforce specific performance of the Agreement and pursue any other available legal remedies or both or (2) demand a refund of theent the parties agree that said sum shall constitute liquidated damages since both Buyer and Seller agree that actual damages for default or breach of Agreement could not readily be ascertained at theboth or (2) cancel this Agreement and claim the deposit 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 evar other rights, powers, options or remedies allowed herein or by law. If Buyer defaults, Seller may (1) enforce specific performance of the Agreement and pursue any other available legal remedies or ll rights, powers, options or remedies afforded to Buyer 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 buired by this Agreement shall constitute a material default. Following a material default by either Buyer or Seller, the other party may pursue any remedies or damages available at law or in equity. ADEFAULTS AND REMEDIES. 12 Initials Seller _________________ Buyer _________________ Failure of either party to comply with any material covenant, agreement, or obligation within the time limits reqeof, 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 business day. ___ Both will pay any _____________________________________ TIME Time is of the essence of this Agreement. Any reference herein to time periods of less than six (6) days shall in the computation ther will pay any recording any corrective instruments Both will pay any loan origination fees. Both will pay any _____________________________________ Both will pay any __________________________________ thereto. Seller Seller Seller Seller Seller Seller 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) Bothny documents required in connection with the title insurance commitment. Seller Buyer Both will pay any premium payable for the title commitment and title policy (i.e. title insurance) issued pursuantd to the warranty deed; Seller Buyer Both will pay any intangible tax required by law on the mortgage. Seller Buyer Both will pay any recording costs, including recording of the deed, mortgage, and abuyer and seller. Delete the one(s) that don't apply): Seller Buyer Both will pay any transfer tax when title passes. Seller Buyer Both will pay any documentary stamps which are required to be affixe____________ Buyer _________________ CLOSING COSTS The 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 ______________ ______________________________________________________________________________ _________________________________________________________________ (Other or none) 11 Initials Seller _____nt set forth in this Agreement and any required mortgage, mortgage note, security agreement and financing statement and _______________ ________________________________________________________________rovisions hereof, and concurrently with the performance by Seller of its obligations set forth in the Agreement, Buyer shall deliver to Seller, cashier check or other immediate local funds in the amouien affidavit, assignments of leases, and any corrective instruments that may be required in connection with perfecting the title. BUYER'S OBLIGATIONS AT CLOSING Subject to the terms, conditions and p a. Execute, acknowledge, and deliver to Buyer a warranty deed or ______________ conveying the Property to Buyer subject to any limitations set forth above : b. Furnish closing statement, mechanic's l_ ______________________________________________________________________ ____________________________________________________ SELLER'S OBLIGATION AT CLOSING At Closing, Seller shall do the following:ayment or the second mortgage as the Seller may elect. (iii) (iv) (v) Other: ___________________________________________________ _____________________________________________________________________age to be assumed or purchase money mortgages as described 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 pt or otherwise common to the subdivision, easements and zoning ordinances of record, and other requirements imposed by governmental authority, if any; public utility easements of record, if any; MortgTRICTIONS, EASEMENTS, LIMITATIONS The Buyer shall take title subject only to: (i) (ii) taxes and assessments for year of the Closing and subsequent years; Restrictions and matters appearing on the plaemand for refund, he shall take title as is, waiving all rights against Seller as to such intervening defect except as may be available to Buyer by virtue of warranties, if any, contained in deed. RESyment, Buyer shall vacate the Property and reconvey same to the 10 Initials Seller _________________ Buyer _________________ Seller by special warranty deed. In the event Buyer fails to make timely dent 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 such repable, 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. In the evn escrow by Seller's attorney or by such other escrow agent as may be mutually agreed upon for a period of not longer than five (5) days from and after Closing. If Seller's title is rendered unmarketar's expense, to show title in Buyer, without any encumbrances 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 ission of the Property immediately following the Closing, free and clear of all trash, debris and furnishings. The deed shall be recorded upon clearance of funds and evidence of title continued at Buyecedures for closing, and for disbursement of mortgage process, shall control, anything in this Agreement to the contrary notwithstanding. Unless otherwise agreed by the parties, Buyer shall have posse a mutually convenient place and time. However, if a portion of the Purchase Price is to be derived from an institutional mortgagee, the requirements of said mortgagee as to time of day, place and prothe deed and other closing papers delivered on the ______ day of ______ 20 __, unless extended by other provisions of Agreement, or by written agreement of the Parties. The Closing shall take place athe parties as of the Closing. Buyer will pay any special assessments that become a lien on the Property after the Closing. CLOSING AND POSSESSION This transaction shall be closed (the "Closing") and . SPECIAL ASSESSMENTS Any special assessments for the year in which the sale of the Property is closed (exclusive of rebates and penalties) that are a lien on the Property shall be prorated between tpay, as the case may be, an amount necessary to effect such adjustments. This provision shall survive the Closing. OR [_____ / _____ ] Unless the Parties agree otherwise, all prorations shall be final_____ / _____ ] Subsequent to the Closing, when the tax rate is 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 __ Agreement to prorations as of the Closing will be deemed "date of occupancy" if occupancy occurs prior to the Closing, unless otherwise provided for herein. ADJUSTMENTS (select and initial one) [emiums shall be prorated. The cash at the Closing shall be increased or decreased as may be required by said prorations. All references in the 9 Initials Seller _________________ Buyer _______________e current year's taxes based on the information available on the Closing. Buyer shall have the option of taking over any existing policies of insurance on the Property, if assumable, in which event prgree that if the Property has been reappraised or reclassified within the preceding year and the actual taxes based on the new value are not available, they will agree to a reasonable estimation of thhe prior year's taxes were based, taxes will be estimated based on the preceding year's levy at the more current assessed value, if ascertainable, and the estimated amount prorated. The Parties also ahe basis of the tax rate of the preceding year applied to the latest assessed valuation. However, if the Property was materially improved following the determination of the assessed value upon which thereafter shall be the responsibility of Buyer, subject to applicable law. If the Closing shall occur before the tax rate is fixed for the then current year, the apportionment of taxes shall be upon t assessments, rent, interest, insurance and other expenses and 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 t property shall, at the request of Buyer, be conveyed by an absolute bill of sale with warranty of title, subject to such liens as may be otherwise provided for herein. TAX AND OTHER PRORATIONS Taxes,complete the Closing. The warranty deed shall convey to Buyer a marketable fee simple title to the Property free and clear of all liens and encumbrances, except as provided in this Agreement. Personaly. DELIVERY OF DEED On or before the Closing, Seller shall execute, transfer and deliver marketable title to the property to Buyer by a warranty deed and take all other steps reasonably necessary to urchase the Property for any reason other than Seller's default, all such information shall be returned to Seller together with any information that Buyer may have compiled with respect to the Propertonomic and financial studies which Seller has, if any, relating 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 pnd without reduction in the Purchase Price. ENGINEERING PLANS AND STUDIES Upon the execution hereof, Seller shall furnish to Buyer all engineering plans, drawings, surveys, artist's renderings and ec deposit this day paid shall be returned to Buyer and all rights and liabilities arising hereunder shall terminate, or Buyer may close this transaction in the same manner as if no defects had been foume to remove such encroachments as is allowed under this Agreement for the curing of defects of title. If the Seller shall fail to remove or cure said encroachments within the period of time, then theerein described, or that the improvements located on the Property herein described encroach on other lands, written notice of that effect shall be given to the Seller and Seller shall have the same tiFESSIONAL SURVEY A survey shall shall not be made of the Property prior to the Closing. 8 Initials Seller _________________ Buyer _________________ If the survey shows encroachments on the Property hsuppliers and material men and further reciting that, in fact, all 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 the Closing. PRO's liens, executed by general contractors, subcontractors, suppliers, and material men, in addition to Seller's lien affidavit setting forth the names of all such general contractors, subcontractors, vements to the Property for one hundred twenty (120) days immediately prior to the Closing. If the Property has been improved within said time, Seller shall deliver releases or waivers of all mechanicng to the absence of any security interest in, or financing statement, claim, lien, or potential lien known to Seller with respect to, the Property, and further attesting that there have been no impro reasonable diligence to obtain approval. The amount of any escrow deposits held by mortgagee shall be credited to Seller. LIEN AFFIDAVIT Seller shall furnish to Buyer at Closing an affidavit attestiquires an increase in the interest rate or charges a fee for any reason in excess of $________, the Buyer may rescind the Agreement unless Seller elects to pay such increase or excess. Buyer shall usessumption by the Buyer of said mortgage, and: a) the mortgagee does not approve the Buyer, the Buyer may rescind the Agreement (and any Earnest Money will be returned to Buyer), or b) the mortgagee reh principal balance, method of payment, interest rate and whether the mortgage(s) is in good standing. If a mortgage requires approval of the Buyer by the mortgagee in order to avoid default, or for ale policy will include mechanic's lien coverage. EXISTING MORTGAGES Seller shall furnish to Buyer within twenty (20) days from execution hereof a statement from all mortgagee(s) (if any) setting fort cooperate with, and comply with the requirements of, the Title Company for issuance of this coverage. Unless otherwise agreed or if not available for reasons other than any act of Seller, Buyer's titte of recording of the deed or other instrument of conveyance against any lien, or right to a lien, for services, labor or material imposed by law and not shown by the public records. Seller agrees to only to exceptions for any liens, encumbrances or other matters created or brought about by Buyer and exceptions permitted according to this Agreement. The policy shall also insure Buyer as of the daer _________________ Seller Buyer shall pay for an owner's title insurance policy in the amount of the Purchase Price insuring marketable fee simple title in Buyer from and after the Closing, subject, or (iii) rescind this Agreement, whereupon the deposit described herein shall be returned to Buyer and this Agreement shall be of no further force and effect. 7 Initials Seller _________________ Buy said objections, (ii) 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 purposesr does not remedy any title defects before the Closing (or reasonably later date if extended by Buyer in Buyer's discretion), Buyer may, at its option: (i) extend the time period for Seller to satisfye unacceptable. Seller shall, at its sole cost and expense promptly undertake and use its best efforts to eliminate or modify all unacceptable matters to the reasonable satisfaction of Buyer. If Sellech Title Commitment and survey is not satisfactory in Buyer's sole discretion. In the event that the condition of title is not acceptable, Buyer shall state which exceptions to the Title Commitment arable, but at least fifteen (15) days before the Closing. Buyer shall give Seller written notice within ten (10) days after receipt of the Title Commitment, if the condition of title as set forth in su Commitment. The Title Commitment shall commit to insure a marketable fee simple title in the Buyer upon the recording of the deed. This Title Commitment shall be delivered to Buyer as soon as practices ("Title Company") to issue and deliver to Buyer a title commitment ("Title Commitment") accompanied by one copy of all documents affecting the Property, and which constitute exceptions to the Titled $_________________. The charge for the warranty plan will be paid at Closing. TITLE Seller, at Seller's sole cost and expense, shall cause a title insurance company mutually acceptable to the PartiThis warranty plan will be a limited service contract covering repair or replacement of the working components of the Property for one (1) year from the Closing. The warranty plan cost shall not exceeit(s) made hereunder. WARRANTY PLAN Seller Buyer agrees to pay for a homebuyer's warranty plan from a reputable warranty plan provider, subject to a per claim deductible not to exceed $____________. y virtue of such loss or damage or an assignment of the right to Seller's insurance proceeds for the loss or damage, or (b) Buyer may cancel the Agreement and receive return of any Earnest Money deposssed valuation of the improvements so damaged, Buyer shall have the option of either (a) taking the Property as is, together with either a credit for the said ____% or any insurance proceeds payable b the Seller and the Closing shall proceed pursuant to the terms of this Agreement with costs therefore escrowed at the Closing. In the event the cost of repair or restoration exceeds ____% of the assere or other casualty prior to the Closing, and the costs of restoring same does not exceed ____% of the assessed valuation of the improvements so damaged, cost of restoration shall be an obligation ofood or other casualty (including those causes that could be covered by what is commonly referred to as fire and extended coverage insurance) is assumed by Seller. If the improvements are damaged by fi deed to Buyer. 6 Initials Seller _________________ Buyer _________________ Until the purchase is closed and the warranty deed delivered to Buyer, the risk of loss by fire, windstorm, earthquake, fln incurred before the Closing. Buyer will pay for the charges incurred after the Closing. CASUALTY LOSS Seller agrees to keep the improvements on the Property fully insured until delivery of Seller'sng. UTILITY CHARGES Seller will pay any other charges made against the property by any government authority for installation or extension of water, sanitary or sewer service, if such charges have beexistence of any lead-based paint. UTILITIES Seller will on, Buyer will not leave all utilities on until the date of possession. If the utilities are left Seller will pay the utility bills until Closihed to this Agreement and made a part hereof. OR [ _______ / _______ ] Seller represents that the house that is a part of the Property was built after 1978 and so Seller makes no statement about the et and the Earnest Money shall be refunded to Buyer. LEAD PAINT DISCLOSURE (initial the one that applies) [ _______ / _______ ] Buyer and Seller have signed a separate Lead Paint Disclosure Form attache level of Radon gas exceeds four picocuries per liter (4pCi/L) and Seller refuses to pay for the cost of installing Radon reduction equipment acceptable to Buyer, then Buyer may cancel this Agreemen to Buyer at least fifteen (15) days prior to closing. The report shall be made by a reputable inspector, complying with federal law and the law of the jurisdiction where the Property is located. If te or county public health officer. (Initial if this applies) [ ________ / _________ ] Seller shall arrange and pay for a report concerning the level of Radon gas in the Property and provide the reportthat exceed federal and state guidelines may have been found in buildings in the state where the Property is located. Additional information about Radon and Radon testing may be obtained from the stat__ Radon is a natural occurring radioactive gas that, when it accumulates in a building in sufficient quantities, may present health risks to persons who are exposed to it over time. Levels of Radon e transaction, in which event Buyer shall receive a credit at the Closing of an amount equal to _____% of said Purchase Price. RADON TESTING 5 Initials Seller _________________ Buyer _______________ Agreement within five (5) days after receipt of contractor's repair estimate by giving written notice to Seller and the Earnest Money shall be refunded to Buyer, or Buyer may elect to proceed with ththis section, Seller shall pay valid costs for treatment and repair of all damage up to _____% of the Purchase Price. Should such costs exceed that amount, Buyer shall have the option of canceling thef written notice of any unsatisfactory condition (other than active pest infestation) signed by Buyer and supported by the written opinion of qualified inspector(s) is given to Seller as set forth in ate evidencing such treatment and Buyer agrees to accept that certificate. If Buyer is obtaining financing, inspection, treatment and repairs will be done within thirty (30) days before the Closing. It infestation, Seller agrees to pay to have the Property treated for control of the infestation by a reputable, licensed pest control firm selected by Seller. Seller will provide Buyer with a certific the Property resulting from any inspection. A copy of a pest inspector's written report (if any) shall be provided by Buyer to Seller. In the event that an inspection reveals that there is active pesrted failures shall be corrected at Seller's cost with funds therefore escrowed at the Closing. Seller agrees to provide access for inspection upon reasonable notice. Buyer shall pay for any damage tohever is first. Unless Buyer reports failures within said period, Buyer shall be deemed to have waived any warranty that Seller may have given in this Agreement as to failures not reported. Valid repor, together with a copy of the written report(s) by the inspector(s) of any items found not to be in working condition prior to taking of possession thereof, or six (6) days prior to the Closing, whicestation or damage and all other physical matters which may affect the value of the Property by licensed persons dealing in the repair and maintenance thereof. Buyer shall give written notice to Sellelumbing, electrical and mechanical systems, central heating, ventilation and air conditioning, foundation, basement, crawlspace, roof, attic, structural components, environmental hazards, and pest infomptly notify Buyer. MECHANICAL, PEST AND OTHER INSPECTIONS Buyer may, at Buyer's expense, have inspections made of the Property. This may include, but not be limited to, inspections of appliances, ppool) in its present condition through the date of possession, ordinary wear and tear excepted. In the event of any material change in the condition of the Property before the Closing, Seller shall pr__________________________________________________ ___________________________________________________________________________ Seller shall maintain the Property (including any lawn, shrubbery and/or king condition as of six (6) days prior to closing,), except for the following: __________________ ___________________________________________________________________________ _________________________parent upon inspection. Seller warrants that all 4 Initials Seller _________________ Buyer _________________ major appliances, heating, cooling, electrical, plumbing systems, and machinery are in woror Buyer's Agent(s) or 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 apThe date of Agreement ("Effective Date") shall be the date when the last one of the Seller and Buyer has signed this offer. PHYSICAL CONDITION OF PROPERTY AND EQUIPMENT Buyer acknowledges that Buyer offer is not executed by both of the parties hereto on or before __________, the Earnest Money shall be, at the option of the Buyer, returned to him and this offer shall thereafter be null and void. t by written notice to the other. In that case, Seller will return the deposit to Buyer or authorize the escrow agent or Earnest Money Holder, to do so. TIME FOR ACCEPTANCE AND EFFECTIVE DATE If thisy in this Agreement is not removed in writing by the required date, this Agreement becomes voidable. After the required date and until the contingency is removed, either party may cancel this Agreemen subject only to the sale of Buyer's property; or (ii.) Buyer is financially able to complete the purchase of the Property without selling Buyer's property. REMOVAL OF CONTINGENCIES If any contingenc the purchase of the Property unless: (i.) Buyer has entered into a bona fide contract for sale of Buyer's property and Buyer's financing for the purchase of the Property is approved by Buyer's lenderoth the contingency respecting the sale of Buyer's property and any financing contingency of this Agreement (as applicable). Buyer shall not exercise the option to continue this Agreement and completef continuing this Agreement. To exercise this option, Buyer must pay to Seller a non-refundable fee of $______________ (to be applied to the Purchase Price at Closing) and agree in writing to remove b the sale and closing of Buyer's property, Seller shall notify Buyer. Buyer shall have _____________________ days from receipt of Seller's written notice about the other offer to exercise the option o______________________________________________________________ on or before ______________________. Seller may continue to offer the Property for sale. If Seller accepts another bona fide offer before acquiring all the necessary approvals and permits to use the property for ___________________. [ _______ / _______ ] The sale and closing of Buyer's property located at _______________ ______________e title insurance commitment by Buyer's lawyer. This contingency is to be removed within _____ days after the title insurance commitment is received by Buyer. [ _______ / _______ ] Buyer obtaining and] A stake survey or survey report at Buyer's expense resulting in findings satisfactory to Buyer. This contingency is to be removed by ___________________________. [ _______ / _______ ] Approval of thexpense resulting in findings satisfactory to Buyer. This contingency is to be removed by __________________________. 3 Initials Seller _________________ Buyer _________________ [ _______ / _______ s satisfactory to Buyer. This contingency is to be removed by ___________________. [ _______ / _______ ] A review of public and private building and use requirements affecting the property at Buyer's g in a report satisfactory to Buyer. This contingency is to be removed by ___________________. [ _______ / _______ ] An environmental inspection of the property at Buyer's expense resulting in findingpense resulting in a report satisfactory to Buyer. This contingency is to be removed by ___________________. [ _______ / _______ ] An architect's inspection of the property at Buyer's expense resultinNGENCIES This Agreement is also contingent upon satisfactory completion of the following items (initial those that apply): [ _______ / _______ ] A contractor's inspection of the property at Buyer's ex Buyer fail to obtain same or to waive Buyer's rights hereunder within said time, Buyer may cancel the Agreement. This financing contingency is to be removed by ____________________. ADDITIONAL CONTIt to exceed _______ percent (____%); of _______ years; and in the principal amount of $______________. Buyer agrees to make application for, and to use reasonable diligence to obtain said loan. Shouldhereof is to be financed by a third party loan, this Agreement, is conditioned upon the Buyer obtaining a firm commitment for said loan within _______ days from the date hereof, at an interest rate nothis Agreement (as the case may be), then such failure shall constitute consent to disbursement of the Earnest Money as provided in such notice. SALE CONTINGENCIES If the Purchase Price or any part til from the third party Earnest Money holder, if any, or (ii) make written demand for return or forfeiture of the Earnest Money within ___________ days of receipt of written notice of cancellation of y nor a written consent to distribution and either party fails to: (i) respond in writing within ________ days of receipt of a written notice of pending disbursement sent by certified or registered mark of the court where the Property is located for disposition according to the order of the court. Buyer and Seller agree that, if there is neither a dispute regarding disbursement of the Earnest Monee to agree in writing upon the disbursement of the Earnest Money or any other funds, the third party holder may commence an interpleader or similar action and is authorized to pay the funds to the cle this Agreement before Closing) will be directed not to disburse those funds without the written consent of Buyer and Seller, unless permitted to do so by applicable law. If Buyer and Seller are unabl___________ Notwithstanding other provisions in this Agreement regarding the refund or forfeiture of the Earnest Money, any third party holding the Earnest Money (or any other amount paid pursuant toued for the benefit of Buyer and either applied toward the purchase price at closing or returned to Buyer in the event the transaction does not close. 2 Initials Seller _________________ Buyer ______ holder shall be instructed to deposit the funds in an insured escrow account. Unless, the Earnest Money is somehow forfeited by Buyer pursuant to any terms of this, any accrued interest shall be accr (Earnest Money + amount financed + loan assumption + cash balance at Closing) $________________ EARNEST MONEY AND OTHER DEPOSITS If the holder of the Earnest Money is someone other than Seller, thatuyer. 4. [ _________ / __________ ] Buyer will pay the balance of $______________ on or before the "Closing" (defined below) in cash or by cashier's check subject to adjustments and prorations. TOTALst for assumption by Buyer, cancel this Agreement, or Buyer may elect to complete the purchase with alternate financing. In the event of cancellation by Buyer, any Earnest Money shall be returned to Bnd without any fee. If any required consent cannot be obtained as set forth herein, then Buyer may, at Buyer's option by notice to Seller, within ten (10) days following the lender's response to requeng to its terms. If the lender's consent to the assumption of the Mortgage Loan is required, this Agreement is contingent upon obtaining such consent without change in the terms of the Mortgage Loan amate present principal balance of $______________________, now of record in the offices of the county where the Property is located (the "Mortgage Loan"). Buyer agrees to pay the Mortgage Loan accordi trust on the Property in favor of ____________________________________________ bearing interest at _______% per annum and payable as to principal and interest $__________ per month, having an approxice Amount"). 3. [ _________ / __________ ]Buyer also assumes and agrees to pay, as a part of the Purchase Price, the balance owing upon a certain promissory note secured by a first mortgage or deed ofainst the Purchase Price. 2. [ _________ / __________ ] The total amount to be financed by Buyer (not including financed mortgage insurance premiums, or closing costs, if any) is $____________ ("Finanr shall pay an earnest money deposit ("Earnest Money") in the amount of $______________ to _____________________ ("Earnest Money Holder") upon signing this Agreement. This deposit is to be credited agcluded Items") PURCHASE PRICE The Purchase Price for the Property is: $___________________ ("Purchase Price"). PAYMENT (initial and complete applicable provisions) 1. [ _________ / __________ ] Buye_________ __________________________________________________________________ __________________________________________________________________ ___________________________________________________ ("Exed Items"). The following items are specifically excluded from this Agreement and shall not be transferred to Buyer as a part of the Property: _______________________________________________________________________________________________________________________ _______________________________________________________________________ ________________________________________________________ ("Includners and remote control units; keys; attached humidifiers; attached outside cooking units; attached fireplace screens and/or glass doors; attic and ceiling fans; built-in kitchen appliances; and: ____equipment and fixtures; attached mirrors; linoleum; wall-to-wall carpet; window and porch shades; blinds; storm windows and doors; screens; curtain and drapery rods; awnings; automated garage door operopane tanks (including propane if owned); central heating, ventilation and air conditioning equipment and fixtures; sump pumps; attached TV antennas and cables; lighting and light fixtures; plumbing d personal property associated with the Property (unless specifically excluded below), all of which (if any) are owned by Seller free and clear of all liens and encumbrances, including: gas heaters; provements on the Property and all right, title and interest of Seller in and to adjacent streets, roads, alleys and rights-of-way. The sale of the Property shall also include the following fixtures an________ __________________________________________________________________ The legal description of the Property is given in Attachment 1. The sale of the Property shall include all buildings and imp(Common Description). The legal description of the Property is as follows: __________________________________________________________________ ___________________________________________________________________________ __________________________________________________________________ __________________________________________________________________ _______________________________________________ llectively referred to as the "Parties"). PROPERTY TO BE SOLD Seller shall sell and Buyer shall buy the following property and the improvements thereon (the "Property") commonly known as: ___________ PARTIES This Residential Real Estate Sale Contract (the "Agreement") is made by and between __________________________, ("Seller"), and ________________________, ("Buyer") (Buyer and Seller may be co consequences of this agreement are fully explained and understood. An attorney should also be consulted whenever a document is negotiated with another party. 2 Residential Real Estate Sale Contract used or signed without consulting an attorney first to make sure it fits your particular situation. You should also consult with an attorney and a tax professional to make sure that all legal and taxnd 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 forms should only be a starting point for you and should not ben 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 laws and regulations regarding lead paint. This information a "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/offices/lead/outreach/leapame.pdf and. Additional informatioed paint and/or lead-based paint hazards in the dwelling. Buyers must also receive a federally approved pamphlet on lead poisoning 1 prevention. An Environmental Protection Agency's pamphlet entitled health hazards if not managed properly. Lead exposure is especially harmful to young children and pregnant women. Before selling pre-1978 housing, Sellers must disclose the presence of known lead-basmay want to check with a local agent or lender if the use of another form will create a problem. Housing built before 1978 may contain lead-based paint. Lead from paint, paint chips, and dust can poseved forms that can be used to make the disclosure. Since this agreement may be a little different than the types of real estate sale contracts your local agents and lenders may be used to seeing, you andatory 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 mandatory disclosure laws have created state approe 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 contract.. To find out if your state has any mms. 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 states, a seller may still be required to makt be signed and returned before it expires. The law in some states requires a seller to make additional written disclosures, including disclosures about the condition of the house and any known probleted as a formal offer. However, the seller may initiate the preparation of the contract as well. The agreement allows the person making the offer to designate a time and date by which the contract musment 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 of contract is prepared by the buyer and preseny someone else). The agreement provides for the traditional terms between a seller and buyer, including financing contingencies, surveys, pest and other inspections, title matters and more. This agreer 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 access the house (which is being sold) is owned bfree-standing residential home. Another type of form is required for the sale of condominiums, cooperative apartments, farmland and other special kinds of property. This contract does not address watereement should be used to document the transaction and to set forth the terms between the Seller and the Buyer. The Residential Real Estate Sale Contract form can be used by a buyer and a seller of a of these forms is subject to the Disclaimers and Terms of Use found at findlegalforms.com 2 Information Residential Real Estate Sale Contract Whenever any real estate property is sold, a written aghat 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 another party. The purchase and use ot 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 attorney and a tax professional to make sure tntract. 1 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 be a starting point for you and should nour 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 disclosures and try to make them part of the codisclosures and any other known problems. Some cities and other municipalities may also have specific disclosure requirements that need to be included.. Check with a real estate agent or attorney in yincluded in similar agreements. The law in some states require a seller to make additional written disclosures, including disclosures about the condition of the house, the neighborhood, environmental rules. A copy of the "Disclosure Of Information On Lead-Based Paint and/or Lead-Based Paint Hazards" form is included in this package. These forms contain the basic terms and language that should be . Federal law requires Seller to keep the signed copy of the "Disclosure Of Information On LeadBased Paint and/or Lead-Based Paint Hazards" for a minimum of three years as proof of compliance with the 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 Paint and/or Lead-Based Paint Hazards" 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 matters etc.) If the property is builta 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 signatures of all parties. Thee 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 both parties, it creates or 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 constitutes a formal offer. Thstate 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. This agreement is fInstructions & Checklist Residential Real Estate Sale Contract This package contains (1) Instructions and Checklist for Residential Real Estate Sale Contract; (2) Information about Residential Real E Wyoming