Letter Of Intent For The Purchase And Sale Of Property Template (Page 7 of 8) in pdf

Letter of Intent | 49

tive coverages and endorsements, shall be borne by Buyer. In addition, Buyer shall order, at its cost, an

ALTA survey of the Real Property, as well as a Water Rights survey.

4. Confidentiality. Buyer and Seller shall keep any negotiations and communications between the par-

ties regarding the potential purchase or purchase of the Property confidential, including through the Let-

ter Inspection Period, the Agreement Inspection Period, and thereafter, and shall not disclose any matter

related to such negotiations and communications to any third party, except, on a “need to know” basis,

to either party’s attorneys, accountants, or similar consultants if such attorneys, accountants, or similar

consultants agree to keep such negotiations, communications, and related matters confidential. This confi-

dentiality provision shall apply throughout the Letter Inspection Period, the Agreement Inspection Period,

and thereafter.

5. Binding/non-binding nature of Provisions. The provisions of this Letter applicable through

the Letter Inspection Period are binding. The balance of the provisions of this Letter create no contractual

obligation on the part of either party, but merely state a framework pursuant to which Buyer may consider

negotiating and executing a Purchase Agreement with Seller, and the Letter will be superseded by the

terms of any written Purchase Agreement signed by the parties.

6. new mexico law governs. The provisions of this Letter, and those of any Purchase Agreement

ensuing, shall be construed according to, and otherwise governed by, New Mexico law without reference

to principles of choice of law.

7. execution in counterparts. This Letter may be executed in one or more counterparts, each of

which shall be deemed an original, but all of which together shall constitute one and the same instru-

ment.

By signing below, the parties signify that the terms described in this letter are acceptable.

[Signatures]

JoinDer oF title comPanY, inclUDing as escroW agent

_________________________________, including as escrow agent herein, joins in the execution of this

Letter of Intent for the limited purposes of acknowledging and agreeing to the provisions regarding the

acceptance, deposit, and disbursement of the Letter Deposit, and otherwise agreeing to perform its obliga-

tions hereunder in accordance with the provisions of this Letter of Intent.

[Signatures]

Letter Of Intent For The Purchase And Sale Of Property Template Page 7