Reservation Agreement For Vehicle Vault Country Club, Llc printable pdf download

RESERVATION AGREEMENT FOR VEHICLE VAULT

COUNTRY CLUB, LLC

THIS RESERVATION AGREEMENT FOR VEHICLE VAULT COUNTRY CLUB, LLC

(“Reservation Agreement”) is made and entered into this ___ day of ______________, 20__ by

and between Vehicle Vault Country Club, LLC a Colorado limited liability company

("Developer") and ____________________________________ ("Potential Buyer") whose

address and telephone number is ____________________________________________, as to

planned unit number: _____, within the Vehicle Vault Village, Town of Parker, Douglas County,

Colorado ("Unit").

Developer and Potential Buyer agree as follows:

Reservation Payment. Subject to the terms of this Reservation Agreement and in

exchange for payment of Ten Thousand U. S. Dollars ($10,000.00), paid by Potential Buyer to

Developer ("Reservation Payment"), Developer grants to Potential Buyer a reservation to

purchase the Unit identified above. Said Reservation Payment shall be held by Developer in a

segregated bank account, apart and distinct from any other accounts of Developer, and shall not

at any time be co-mingled with any other funds or accounts of Developer. Potential Buyer shall

be informed of the bank and account number where such Reservation Payment is deposited and

held. Any interest earned on the Reservation Payment shall belong solely to Developer.

Purchase Price. Developer and Potential Buyer agree and acknowledge that the

purchase price of Unit number: ____ shall be _______________________ U.S. Dollars

($**,***). The parties acknowledge that the Unit shall be considered a condominium unit that

will be within and regulated by a Home Owners Association created and operated specifically for

this car condominium development. Said purchase price shall include ownership of the Unit

within the Home Owners Association, but shall not include any tenant finish work, or

improvements contemplated to be done by Potential Buyer within the walls of the Unit.

Reservation. The reservation granted by this Agreement shall apply to the Unit

identified herein, or to a substitute Unit if the Developer and the Potential Buyer jointly identify

in writing a different Unit within the development that the Potential Buyer wishes to purchase

and the Developer wishes to sell. Potential Buyer is hereby granted a reservation to purchase the

Unit identified herein. Upon Developer being ready to sell the Unit, Developer shall provide

Potential Buyer with a written notice of the same (“Notice”), which shall give notice to the

Potential Buyer that the Developer is ready and able to execute a purchase agreement for the sale

of the Unit. Upon receipt of such Notice Potential Buyer shall have twenty one (21) days to enter

into a purchase agreement with Developer and to pay the applicable earnest money deposit for

the purchase and sale of the Unit. If a purchase agreement, and the applicable earnest money

deposit, is not entered into and provided by Potential Buyer within the twenty one (21) day

period, or a longer period of time if agreed to in writing by both Developer and Potential Buyer,

then Developer is free to market and sell the Unit identified herein to any persons or entity it

Reservation Agreement For Vehicle Vault Country Club, Llc