Contract Between Purchaser And Seller. (Page 4 of 5) in pdf

14. CLOSING/POSSESSION. Closing date will be on or before ____________________ with possession to

be given Purchaser at time of closing. Seller agrees to maintain the property in a condition comparable to

its present condition and agrees that Purchaser will have the opportunity for a personal inspection prior

to closing. Seller agrees to maintain all existing insurance coverage on property until time of closing.

Closing service fees, if any, cost to be distributed as follows: Purchaser_________ Seller___________.

All personal property, including refuse, not included in the purchase price, shall be removed by Seller prior

to closing.

15. EARNEST MONEY/DEPOSITS. The broker, as specified in Section 2, shall deposit and hold all earnest

money and other deposits until sale is closed. If an accepted offer and agreement to purchase does not

close, regardless of the circumstances, both Purchaser and Seller must agree in writing prior to release of

earnest money or in the alternative, pursuant to court order in accordance with SDCL 36-21A-81.

16. AGREEMENT TO MEDIATE. Any dispute or claim arising out of or relating to this contract will be

submitted to mediation, if available, in accordance with the rules and procedures of the Sellers/Purchasers

Dispute Resolution System. Otherwise, mediation will be submitted to a private mediation service. Any

costs of mediation will be shared equally between Purchaser and Seller.

Yes______ No______

Purchaser________/_________ (initials)

17. PERSONAL PROPERTY. Any personal property, free of liens and without warranty of condition, shall

□

be transferred to Purchaser by a separate bill of sale. Purchaser

will /

will not compensate seller for

fuel oil/propane remaining on date of closing.

18. OTHER PROVISIONS: _________________________________________________________________

______________________________________________________________________________________

18. ADDENDA TO THIS AGREEMENT. The following documents are addenda to this contract and are

attached and become part of this contract by reference. If none, so state.

______________________________________________________________________________________

19. This agreement is void if not accepted by Seller by the ____________ day of ______________________ ,

________ by _________ a.m./p.m.

20. The laws of South Dakota govern this transaction.

INITIALS: PURCHASER________/________SELLER________/_________

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SDREC.RESIDENTIALPURCHASEAGREEMENT.2011

Contract Between Purchaser And Seller. Page 4