Lease/purchase Agreement

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LEASE/PURCHASE AGREEMENT
This agreement is made between Homestead Crossing Inc, a Missouri Corporation, (Seller),
and Tom Jones, 123 Main Street, Anywhere, USA 99999, (Buyer). It is agreed between the
parties as follows:
1. Seller hereby agrees to lease and sell to Buyer, and Buyer agrees to lease and buy, the
premises described as follows:
The South Half (S1/2) of the Southeast Quarter of the Northeast Quarter (SE1/4 of
NE1/4) Section 19, Township 26 North, Range 12 West, Douglas County, Missouri. (Parcel
contains 20 acres more or less)
2. The sale price for the property is Thirty Two Thousand Nine Hundred and no/100 Dollars
($32,900.00).
3. Buyer shall pay Seller Four Hundred Dollars ($400.00), as the down payment and earnest
money, receipt of which is hereby acknowledged by Seller's signature below. Buyer also
agrees to pay the first month's payment of $340.00, along with the down payment, receipt of
which is also acknowledged by Seller's signature below.
4. Buyer agrees to pay Seller the balance of Thirty Two Thousand Five Hundred and no/100
Dollars ($32,500.00) as set forth below.
5. Buyer will be responsible for taxes for 2014 and thereafter as part of this lease/purchase
agreement and to reimburse Seller for them if paid by Seller.
6. It is further agreed that:
a. The monthly payments shall be $340.00 and are due on the 15th of the month. After a
total of 36 lease payments have been made this agreement will become a Purchase
Contract or a Deed with note and Deed of Trust (Buyer's choice) with half of all the
payments paid to that point being subtracted from the sale price. Any extra money
paid will also be deducted in full from the sale price. Seller will finance the remaining
balance at $340 a month including interest.
b. The next payment, after the one paid with the down payment, will be due June 15,
2014 and on the 15th of each month thereafter, until the total amount has been paid in
full. Any payment not received by the 25th of the following month is subject to a late
fee of $10.00 plus a Dollar a day until paid on each missed payment.
c. The interest rate on the unpaid balance of the contract shall be 9.75% per annum and
will start to accrue on May 15, 2017.
d. Buyer may pay off all or part of the balance at any time with no penalties and unless
the property has been paid in full may, after 36 months, switch to a deed with a note
and deed of trust on the balance as, desired. No credit check, qualifying or additional
fees will be required other than recording fees of about $55.00.
e. In the event of any breach of the payment or any other allowed charges, or other
breach of this contract, Seller shall have full rights to terminate this contract and re-
enter and re-claim possession of the premises, in addition to such other remedies
available to Seller arising from said breach, all monies paid, property transferred and
improvements made to the property will be retained by Seller, as liquidated damages.
f. Seller and Buyer agree that this contract shall not be deemed to be in default unless
Buyer is more than 30 days behind on a payment. Payments apply first to late fees, if

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