Land Contract Template (Page 6 of 7) in pdf

Land Contract Template Page 6

17. SERVICE OF NOTICES. Any and all notices or demands shall be sufficient when served as

follows:

(d) By personal service on the party or to a member of the party’s family or employee of

suitable age and discretion with a request that the notice or demand be personally

delivered to the party; or

(e) By depositing the notice or demand in the United States Post Office with postage

fully prepaid by first class mail, addressed to the party at the party’s last known

address.

18. TIME OF ESSENCE. It is expressly understood and agreed that time shall be deemed of the

essence of this Contract. Failure of the Seller to exercise any right upon default of the Buyer

shall not constitute a waiver of any rights and shall not prevent the Seller from exercising any

rights upon subsequent default.

19. ADDITIONAL PROVISIONS. Seller agrees to pay the Real Estate Transfer Tax based on

the purchase price of ____________________ and 00/100 Dollars ($____________.00) when

the land contract is paid in full. Buyer is aware that this land contract needs to be paid off on

or before _______________.

20. BINDING EFFECT. The covenants and agreements of this Contract shall bind the heirs,

assigns, and successors of the respective parties.

21. EFFECTIVE DATE. The parties have signed this Contract in duplicate and it shall be

effective as of the day and year first above written.

_____________________________________

Land Contract Template Page 6