Contract For Deed
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5The State Of ___________ >>
County Of _____________ >>
CONTRACT FOR DEED
This Agreement is made and entered into on this ____ day of _________________, _________ by and
between ________________________________________________________________________
Address ____________________________________________________________ of the State of
___________________, hereinafter called “Seller” and
_______________________________________________________________________________
Address
__________________________________________________________________________________
____ State of _______________________________, hereinafter called “Buyers,” upon the terms and
conditions set forth herein.
1.
Purchase and Sale. The Seller agrees to sell to Buyers, and Buyers agree to Purchase from Seller the
following described real property (hereinafter referred to as “ the Property”) together with all
improvements thereon situated in the County/Township of ________________________and
State of _________________________, to-wit:
(Legal Description)
This conveyance is made subject to ay easements, conditions and/or restrictions of record affecting the
title to the hereinbefore-described property.
2.
Purchase Price. The Buyers promise to pay to Seller or Seller’s order the purchase price as detailed
in the attached Schedule (A).
3.
Risk of Loss and Insurance. Buyer assumes all hazards of damage to or destruction of any
improvements now on the Property or hereafter to be placed thereon. Until full payment of the
purchase price and delivery of the Warranty Deed as hereinafter provided, the premises are to be
insured to at least the amount of the purchase price against loss or damage by fire, explosion, riot,
riot attending a strike, civil commotion, air craft, vehicles and smoke, with Buyers to pay the
premiums therefore.
4.
Taxes. Buyers agree to pay all taxes assessed and to be assessed against the Property and any
improvements or personality now or hereafter placed thereon.
5.
Escrow for Insurance and Taxes. Buyers shall pay Seller monthly, a sum equal to 1/12 of the real
estate taxes and insurance premiums. On or before the anniversary date of the Contract, each year,
Buyers shall provide to Seller, at their sole cost, proof that the taxes have been paid and that
appropriate insurance is in force.
6.
Good Condition and Repair. Until full payment of the purchase price and delivery of the Warranty
Deed as hereinafter provided, Buyers agree to maintain the premises covered hereby and all
improvements located thereon at Buyers’ sole cost and keep them in good repair and condition.
7.
Personal Injury. Seller is not to be liable to Buyers or Buyers’ agents or invitees, or any other
person whomever for any injury to person or damage to property on or about the premises covered
hereby for any reason whatsoever, and Buyers agree to indemnify Seller and hold Seller harmless
from any loss arising out of any such damage or injury.
8.
Right of Inspection. Buyers agree that full inspection of the Property has been made and that
neither the Seller nor Seller’s heirs, representatives, or assigns shall be held to any covenant
respecting the condition of any improvements on the Property nor to any agreement for alteration,
improvement, or repairs, unless the covenant or agreement relied upon is in writhing and attached
to and made a part of this agreement.
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