Letter Of Intent For Purchase Of Real Property (Page 4 of 5) in pdf

Letter Of Intent For Purchase Of Real Property Page 4

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Page 4

11.

Other Provisions:

The Purchase Agreement may contain other provisions such as, but not

limited to, a liquidated damages clause, attorney's fees, notices, mutual indemnifications,

broker's commission, and the like.

Any and all documentation provided by Seller to Buyer shall be returned

to Seller upon cancellation of this transaction.

12.

Expiration of Offer: This Letter of Intent shall constitute an open offer until

____________, at which time it shall be automatically terminated if not executed by Seller.

If the above outline of terms and conditions are acceptable, please indicate by signing

below. All parties to these transactions intend that this proposal be superseded by a the Purchase

Agreement.

In the meantime, all parties agree to proceed in accordance with terms and

conditions outlined in this Letter of Intent. Seller understands the purpose of this Letter of Intent

is to allow further investigation by both parties into the feasibility of entering into a formal

agreement. This Letter of Intent is only binding on the parties during the Contract Negotiation

period. If the Purchase Agreement is not mutually executed within the Contract Negotiation

Period for any reason whatsoever or no reason at all, this Letter of Intent shall expire and no

party shall have any further rights or duties hereunder. Seller shall not solicit other offers during

the Contract Negotiation Period.

BUYER:

________________________________

Dated: _________________

SELLER:

________________________________

Dated: _________________

Letter Of Intent For Purchase Of Real Property Page 4