Multi Unit Residential Income Property Schedule (Page 2 of 3) in pdf

AGREEMENT OF PURCHASE AND SALE PART II: MULTI-UNIT RESIDENTIAL INCOME PROPERTY SCHEDULE

Page 2 of 3

___________________________________________________________________________________________________________

Property Address:

____________________________________________________________________________________________________________________

Buyer(s):

____________________________________________________________________________________________________________________

Seller(s):

PROPERTY MIGRATION

GENERAL CONDITIONS

4. Check either (a) or (b)

This agreement is further subject to:

(Parties must initial the following clauses that are applicable and initial and

strike out those not applicable.)

(a) Property Not Converted to Land Registration System

at Date of Agreement

5. The Seller providing the Buyer with any municipal zoning letter,

Occupancy Permits, or Fire Marshall Reports that are in the Seller’s

Within ten (10) days of acceptance of this Offer the Seller shall

possession, within ___________ days of acceptance of this Agreement

provide, to the Buyer, the applicable PID for the property, the

and thereafter the Buyer shall, at the Buyer’s expense, satisfy themselves

Seller’s deed and any survey or location certificate that is in the

that the property conforms to applicable government bylaws or

Seller’s possession. The Seller, at the expense of the Seller,

regulations, e.g. zoning, occupancy permits, outstanding work orders,

agrees to convert the property title to the Land Registration System

fire regulations, etc..

at least seven (7) days prior to the closing.

Buyer(s)

Seller(s)

The Seller shall notify the Buyer, as soon as practical, that the

property has been converted to the Land Registration System.

initials required

After notification the Buyer is allowed five (5) business days to

investigate the title to the property which the Buyer shall do at the

Buyer’s expense. If within that time frame any valid objection to

6. The Seller providing the Buyer with copies of all written leases for the

title is made, in writing, to the Seller and which the Seller is unable

property within ________________ days of acceptance.

or unwilling to remove and which the Buyer will not waive, this

Agreement shall be null and void and the deposit herein shall be

Buyer(s)

Seller(s)

returned to the Buyer, and without liability by the Seller for any

expenses incurred or damages sustained by the Buyer.

initials required

At the time of notifying the Buyer that the property has been

converted to the Land Registration System, the Seller shall provide

7. The Seller providing the Buyer with financial statements for the Year(s)

to the Buyer:

_________, current rent rolls and a statement of rent arrears within

________________ days of acceptance.

(i) the applicable PID(s) for the property after the date of conversion;

(ii) a copy of any applicable restrictive covenants;

Buyer(s)

Seller(s)

(iii) that portion of any approved plan applicable to the property.

initials required

Buyer(s)

Seller(s)

The Information from above clauses is deemed to be satisfactory

initials required

(b) Property Converted to the Land Registration System

unless the Seller or the Seller’s Agent is notified to the contrary in

writting within ____________ days of receipt from the Seller of the

at Date of Agreement

documentation mentioned in clauses 5,6, and 7. If notice to the

contrary is received, either party shall be at liberty to terminate this

Within ten (10) days of acceptance of this Offer the Seller shall

Agreement and the deposit shall be returned to the Buyer.

provide, to the Buyer, the applicable PID(s) for the property after

receipt whereof the Buyer is allowed seven (7) business days to

investigate title to the property which the Buyer shall do at the

Buyer’s expense. If within that time frame any valid objection to

title is made in writing, to the Seller, which the Seller is unable or

unwilling to remove and which the Buyer will not waive, this

Agreement shall be null and void and the deposit herein shall be

returned to the Buyer, and without liability by the Seller for any

expenses incurred or damages sustained by the Buyer.

Buyer(s)

Seller(s)

Offer Date:

initials required

Buyer’s Initials:

Witness

Seller’s Initials:

Witness

PUBLISHED BY THE NOVA SCOTIA ASSOCIATION OF REALTORS ®

FORM 407-10/2008

WEBForms

Feb/2013

Multi Unit Residential Income Property Schedule Page 2

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