Purchase Agreement (Page 8 of 8) in pdf

Purchase Agreement Page 8

Community Land Trusts:

Sample Purchase Agreement

This Agreement and the documents to be delivered in connection with the closing, including the Ground

Lease [and the Restrictive Covenants Agreement], contain the entire agreement between Seller and Buyer.

There are no agreements, representations, statements, or understandings which have been relied on by Seller or

Buyer which are not stated in this Agreement or the Ground Lease. IT IS THE PARTIES’ INTENT IN THEIR

DEALINGS THAT IF IT IS NOT IN WRITING, IT IS NOT ENFORCEABLE. This Agreement (and written

and signed addenda, if any) cannot be modified, altered, or otherwise amended without a writing being duly

signed or initialed, as the case may be, by both Seller and Buyer. The parties agree that facsimile signatures and

duly initialed changes are legally enforceable provided the applicable writing contains such signature or initials

of all parties to this Agreement.

17.

Effective Date:

The effective date of this Agreement, i.e., the date on which the timing provisions and contingencies of this

Agreement begin (the “Effective Date”), shall be the date on which the last person to sign this document shall

have signed the document and delivered a fully executed copy to the other person.

ACCORDINGLY, Seller and Buyer have executed this Purchase Agreement as of the date(s) written below.

SELLER:

BUYER:

[COMMUNITY LAND TRUST]

___________________________________

Dated: ____________________________

By: ___________________________________

BUYER:

Its: ___________________________________

___________________________________

Dated: ________________________________

Dated: ____________________________

This publication was made possible with grant funding from the Michigan State Bar Foundation. The

Foundation's funding does not constitute an endorsement of content or opinion expressed in it.

MICHIGAN COMMUNITY RESOURCES

C O M M U N I T Y L A N D T R U S T: S A M P L E P U R C H A S E A G R E E M E N T

Purchase Agreement Page 8