Fillable Standard Form Real Estate Contract Template (Page 3 of 3) in pdf

Page 3 of Real Estate Contract Dated:

, For Property Known As:

specifically set forth herein.

The escrow agent shall not be liable for any error of judgment, or for any act performed or omitted in

good faith, or for any mistake of law.

20. Default, Liquidated Damages:

If Buyer defaults under this Contract after the Deposit has been paid, the Deposit shall be remitted

to and retained by Seller as liquidated damages, and thereupon, the parties shall be relieved of all further liability under this

Contract except as otherwise specifically set forth herein.

In the event that legal action is commenced to enforce any provision of

this Contract, the prevailing party shall be entitled to reimbursement of court costs and attorneys fees incurred therein.

21. Adjustments at Closing: Property taxes, utilities, municipal assessments and use charges, rents, district taxes, association charges,

and other charges customarily adjusted at closings in accordance with the custom of the Bar Association for the town wherein the

Property is located, will be prorated as of the Closing Date. The Buyer shall reimburse the Seller at Closing for any fuel stored on

the Property.

Property taxes will be adjusted on a uniform fiscal year basis.

Installments payable on sewer and other municipal

lien assessments after the Closing will be assumed by the Buyer.

Seller shall deliver to Buyer at closing checks sufficient to

satisfy state and local conveyance taxes.

22. Personal Property: Unless excluded in Paragraph 4, the Personal Property included in the sale shall consist of the following:

screens, storm windows, TV antenna, venetian blinds, curtain rods and fixtures, wall to wall carpeting, awnings, shades, automatic

hot water heater, plumbing, heating and lighting and electrical fixtures (except portable heaters, rented water heaters and lamps),

shrubbery, plants and all other fixtures now located on the Property and the personal property listed in Paragraph 4.

23. Mortgage Financing Contingency: Third Party Mortgage. The Buyer's obligations hereunder are contingent upon Buyer obtaining a

written commitment from a bank or institutional lender for a mortgage loan satisfying the specifications set forth in Paragraph 6(a),

(b) and (c) and upon such other terms and conditions as are standard for similar loan commitments.

Buyer agrees to apply for

such financing immediately and to pursue such application with diligence.

If Buyer is unable to secure such a commitment by the

date set forth in Paragraph 6(c), and so notifies the Seller or the Seller's Attorney in writing, by certified mail, facsimile or hand

delivery, on or before such date, this Contract shall be terminated by such notice and the Deposit shall be returned to Buyer.

Absent such Notice, this contingency shall be deemed satisfied and this Contract shall continue in full force and effect.

Purchase Money Mortgage. A Purchase Money Note and a Purchase Money Mortgage as

described on the attached Rider shall be executed and delivered by the Buyer to the Seller at Closing.

24. Inspection Contingency:

Buyer acting by representatives of Buyer's choice shall complete the inspections, tests, assessments

and title search of the Property as designated in Paragraph 9 prior to the "Inspection Completion Date" or the "Title Search

Completion Date", as the case may be. If, based upon such inspections, tests, assessments and title search, Buyer is not

reasonably satisfied with the title or physical condition of the Property and so notifies the Seller or the Seller's Attorney in writing, by

certified mail, facsimile or hand delivery, not later than two business days after the "Inspection Completion Date," or the "Title

Search Completion Date," as the case may be, this Contract shall be deemed terminated by such Notice and the Deposit shall be

returned to the Buyer.

Absent timely notice hereunder, terminating this Contract, this contingency shall be deemed satisfied and

this Contract shall continue in full force and effect.

25. Title Insurance Affidavit:

Seller agrees to execute and deliver to the Buyer at the Closing of Title an affidavit acceptable to the

Buyer's

title insurer confirming the non-existence of (i) mechanics' or material men's liens, (ii) tenants' rights in or to the Property,

(iii) security interests in personal property or fixtures included in the sale, and (iv) confirming information required to provide the

Buyer's mortgage lender with survey coverage, including updating an existing survey, if any.

26. Condominium/Common Interest Community:

If the Property is in a Condominium or Common Interest Community, Seller shall

deliver to the Buyer a Resale Certificate and other documents as required by Section 47-270 of the Connecticut General Statutes.

27. Buyer's Lien:

The Deposit and Buyer's reasonable expenses actually incurred for title examination to the Property are hereby

made liens on the Property, but such liens shall not continue after a default by the Buyer.

28. Entire Agreement; Binding Effect: This Contract contains the entire agreement of the parties and there are no representations,

inducements or other provisions other than those set forth herein.

All changes, additions or deletions to this Contract must be in

writing and signed by all parties.

This Contract is non-assignable and shall be binding upon and inure to the benefit of the parties,

their heirs, successors and assigns.

29. Seller’s Agent:

Buyer’s Agent:

Name

Telephone

Name

Telephone

Agent’s Firm:

Address:

Seller’s Attorney:

Buyer’s Attorney:

Name

Telephone

Name

Telephone

Attorney’s Firm:

Address:

Check box only if Listing Agent is acting as a Dual Agent

Selling Agent is Buyer’s Agent

Authorized Sub-Agent

Buyer and Seller represent that no other Agent or Broker was the procuring cause of the transaction contemplated by this Contract.

____________________________________

__________________________________

Buyer’s Signature

Date

Buyer’s Signature

Date

____________________________________

__________________________________

Seller’s Signature

Date

Seller’s Signature

Date

Revised 5/27/2015

Buyer's Initials: _________

Page 3 of 3

Seller's Initials: _________

Buyer's Initials: _________

Seller's Initials: _________

Standard Form Real Estate Contract Template Page 3

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