Real Estate Purchase And Sale Agreement (Non-Residential) (Page 3 of 9) in pdf

V. INSPECTION PERIOD:

days from the date of acceptance of this offer. (45 days

if left blank.)

VI. TITLE INSURER:

VII. CLOSING AGENT:

VIII. CLOSING DATE:

(no later than 120 days from the date that this

document is delivered to the County). The closing date may be extended for an additional 120 days

upon written request from Purchaser and deposit by Purchaser with Seller of an “Extension Fee” of

$5,000.00. Upon the written acceptance of the extension by Seller the Extension Fee shall become

non-refundable. The Extension Fee shall be credited to Purchaser against the purchase price of the

property at the time of closing. TERMINATION DATE: Thirty days after closing date.

POSSESSION: At closing.

IX. DEFAULT: Unless all parties initial at paragraph number 9 in the General Provisions below,

Seller shall have an election of remedies in the event of Purchaser(s) default.

X. OFFER EXPIRATION DATE: This offer shall remain open until such time as the Board of

County Commissioners accept this offer or another offer as described above in Seller’s

contingencies, or until sooner withdrawn by the Purchaser(s).

XI. ADDENDA AND ADDITIONAL PROVISIONS: The following provisions and attached

addenda are part of this Agreement:

XII. GENERAL PROVISIONS:

1. Parties. Seller agrees to sell and Purchaser agrees to purchase the identified Property.

Seller represents that Seller is the owner of or has full right and authority to sell the Property.

Purchaser may assign his/her/their rights to an intermediary for purposes of completing this

transaction as part of an IRC, Section 1031 tax deferred exchange, and all parties will

reasonably cooperate so long as no additional cost is incurred by Seller. Otherwise, unless

this Agreement states Purchaser is acting as a nominee or has a right to assign, Purchaser’s

rights under this Agreement may not be assigned by Purchaser without Seller’s prior written

consent, which consent shall not be unreasonably withheld.

2. Property. Purchaser and Seller authorize Closer to correct unintended mistakes and

omissions in the legal description, with Seller to be responsible for assuring its accuracy.

a. Property Condition. Purchaser understands that Seller obtained the Property

through foreclosure or other means, and is selling the Property strictly on an “AS-IS,

WHERE-IS” basis, “WITH ANY AND ALL FAULTS.”

Seller makes no

representation or warranty whatsoever, express or implied, nor is any employee or

agent of Seller authorized to make, any representation or warranty as to the quality or

Real Estate Purchase and Sale Agreement

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