Form Letter Of Intent - Land Acquisition Page 7
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8Seller:
Created: ______
Purchaser:
Updated: _____
Property:
Address:
Title Commitment #:
Title Company:
Effective Date of Contract:
, 2013
Mutually Executed Contract (MEC) Date: _______, 2013
Dates shown in
red text
are the responsibility of the
Seller.
DESCR I P TI ON
DATE
COM M ENTS
COM P LETED
At Closing
Purchase Price
$
to be paid to Seller at Closing by wire
Sec 4
transfer.)
______, 2013
Earnest Money
$
to be deposited with
Deposit
(__) days after MEC)
Sec 4.3
_____, 2013
Record Title Deadline
______ shall furnish to _______, at ____’s cost, a current
Sec 7.1
(__) days after MEC)
commitment for owner’s title insurance policy in the amount
equal to the Purchase Price.
_____, 2013
Exceptions Request
____, at ______’s expense, shall furnish to ________ and
Deadline
(__) days after MEC)
________’s attorney, copies of any plats, declarations,
Sec 7.5
covenants, conditions and restrictions and any other
documents.
Record and Off-
_____, 2013
Purchaser has right to review and object any Title
Record Title Objection
(__) days after MEC)
Documents and may terminate the Agreement by giving
Deadline
notice to Seller prior to this date (Earnest Money may be
Sec 8.1, Sec 8.2
refunded pursuant to Section 25.2).
Off-Record Title
_____, 2013
Seller shall deliver to Purchaser true copies of all existing
Deadline
(__) days after MEC)
surveys in Seller’s possession and shall disclose all
Sec 8.2
easements and liens.
_____, 2013
Title Resolution
Purchaser may terminate the Contract by giving notice to
Deadline
(__) days after MEC)
Seller prior to this date (Earnest Money may be refunded
Sec 8.3
pursuant to Section 25.2).
_____, 2013
Seller’s Property
Seller agrees to deliver to Purchaser a current, completed
Disclosure Deadline
(__) days after MEC)
Property Disclosure form.
Sec 10.1
_____, 2013
Loan Application
Purchaser shall make application for loan verifiable.
Deadline
(__) days after MEC)
Sec 5.1
_____, 2013
Loan Objection
Purchaser has right to terminate on or before this date if
Deadline
(__) days after MEC)
loan is not satisfactory to Purchaser.
Sec 5.2
Appraisal Deadline
_____, 2013
Appraisal shall be received on or before this date.
Sec 6.2
(__) days after MEC)
_____, 2013
Appraisal Objection
Purchaser may terminate the Contract if property appraises
Deadline
(__) days after MEC)
for less than purchase price by giving notice to Seller prior
Sec 6.2
to this date (Earnest Money may be refunded pursuant to
Section 25.2).
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Parent category: Letters