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Purchase And Sale Contract Page 4

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curing the title objection and/or providing insurable title at Seller’s expense. If Seller

fails to cure the title objection on or before the closing date, or, if Buyer is unwilling to

accept insurable title, Buyer may cancel this contract by giving prompt written notice of

cancellation to Seller and Buyer’s deposit shall be returned.

10. ZONING. Seller represents that the property is zoned as follows

_______________________________________________________________________.

11. FLOODPLAIN DISCLOSURE. Seller states the property is / is not

in a

(circle one)

designated floodplain.

12. SERVICES.

Seller represents that the following services are available at the

property line:

___ Public Sewers ___ Public Water ___ Natural Gas ___ Electric Service

___ Cable T.V.

___ Telephone

___ Other: ______________________________

13. APPLICABLE LAW. The contract shall be interpreted according to the laws of the

Commonwealth of Kentucky.

14. MEDIATION/ARBITRATION. This clause is optional. It is effective if both

parties initial below it.

The parties agree to resolve any disputes arising under this agreement first through

mediation and, if unsuccessful, through arbitration taking place in the state of Kentucky.

Any disputes within the jurisdiction of the Small Claims Court ($1,500 or lower) will be

handled by that court.

Buyers’ Initials

Sellers’ Initials

________

_________

________

_________

15. POSSESSION. Possession shall be delivered with the transfer of deed at the

closing.

16. ENTIRE CONTRACT. This contract contains the entire agreement of the parties

pertaining to its subject matter. No oral agreements or promises will be binding.

17. NOTICES. All notices under this contract shall be in writing and deemed delivered

upon receipt.

18. EXPIRATION OF OFFER. This offer shall expire on _____________________,

20____ at _________ a.m./p.m.

_______

Initials

Purchase And Sale Contract Page 4

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