Buyers Purchase Contract

BUYER'S PURCHASE CONTRACT

This Buyer's Purchase Contract (the "Agreement") is made as of by and between Buyer Name: and Seller Name: concerning the real property located at Property Address: .

RECITALS

WHEREAS, Seller is the lawful owner of the Property described above and has authority to sell the same; and

WHEREAS, Buyer desires to purchase the Property and Seller desires to sell the Property on the terms and conditions set forth in this Agreement; and

WHEREAS, the parties intend that this Agreement set forth the complete agreement of the parties with respect to the sale and purchase of the Property.

NOW, THEREFORE

In consideration of the mutual covenants and agreements contained herein, and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties agree as follows:

1. PURCHASE AND SALE

Seller agrees to sell and Buyer agrees to purchase the Property, together with all improvements, appurtenances and fixtures now located thereon, except only those items expressly excluded in writing by Seller. The Property shall be conveyed by a general warranty deed (or equivalent marketable-record-title instrument) free and clear of all liens and encumbrances except for those matters expressly approved by Buyer in writing and those matters set forth in the title commitment.

2. PURCHASE PRICE AND PAYMENT

The deposit shall be delivered to Escrow Agent: within days after the Effective Date and credited to the Purchase Price at Closing.

3. CLOSING

Closing shall occur on or before at the offices of unless another date and place are agreed in writing. At Closing Seller shall deliver possession to Buyer, subject only to permitted tenants and other permitted occupancies described herein.

4. FINANCING CONTINGENCY

This Agreement is contingent on Buyer obtaining financing on terms satisfactory to Buyer within days after the Effective Date. Buyer shall in good faith pursue financing and shall deliver written notice of loan approval or denial to Seller and Escrow Agent.

5. INSPECTIONS

Buyer shall have days from the Effective Date to conduct such inspections, tests and investigations of the Property as Buyer deems necessary. If Buyer is not satisfied with the condition of the Property during the inspection period Buyer may terminate this Agreement by written notice to Seller prior to expiration of the inspection period and receive return of the deposit, unless otherwise agreed.

6. TITLE AND CONVEYANCE

At Closing Seller shall convey marketable title by general warranty deed subject only to: (a) liens and encumbrances paid at or prior to Closing; (b) covenants, restrictions and easements of record; and (c) any exceptions approved in writing by Buyer. Buyer shall obtain owner’s title insurance in an amount equal to the Purchase Price. Title shall be examined at Buyer’s expense by Title Company:

7. CLOSING COSTS AND PRORATIONS

Closing costs shall be apportioned in accordance with custom and local practice, except that Seller shall pay for clearing title and real estate commissions and Buyer shall pay for recordation fees and lender charges. Real property taxes, rents and utilities shall be prorated as of the Closing Date.

8. RISK OF LOSS

Risk of loss or damage to the Property by fire or other casualty prior to Closing shall be borne by Seller. If substantial damage occurs prior to Closing, Buyer may elect to (a) terminate this Agreement and receive a return of the deposit, or (b) proceed to Closing without abatement of the Purchase Price if Seller repairs such damage prior to Closing.

9. REPRESENTATIONS AND WARRANTIES

Seller represents and warrants to Buyer that as of the Effective Date: Seller has good and marketable title to the Property; there are no pending actions affecting the Property; Seller has not received any written notice of code violations or notices of default that remain unresolved; and Seller has full power and authority to enter into and perform this Agreement. Buyer acknowledges that, except for the express representations and warranties set forth in this Agreement, Seller makes no other express or implied warranties.

10. DEFAULT AND REMEDIES

If Buyer defaults under this Agreement, Seller may elect to retain the deposit as liquidated damages or seek specific performance and other remedies available at law or in equity. If Seller defaults, Buyer may seek specific performance, damages or termination and return of the deposit. The parties agree that the remedies provided herein are cumulative and not exclusive.

11. NOTICES

All notices, approvals and requests required or permitted under this Agreement shall be in writing and shall be delivered personally, by nationally recognized overnight courier, or by certified mail, return receipt requested, to the addresses provided above, and shall be effective upon receipt.

12. AMENDMENT AND WAIVER

This Agreement may be amended only by a writing signed by both parties. No waiver of any provision hereof shall be effective unless in writing and signed by the party waiving compliance.

13. GOVERNING LAW

This Agreement shall be governed by and construed in accordance with the laws of the State in which the Property is located, without regard to conflict of laws principles.

14. ENTIRE AGREEMENT

This Agreement, together with any attached exhibits and addenda executed by the parties, constitutes the entire agreement between the parties with respect to the subject matter hereof and supersedes all prior agreements, understandings and negotiations, whether written or oral.

15. SEVERABILITY

If any provision of this Agreement is held to be invalid or unenforceable, the remaining provisions shall remain in full force and effect and shall be construed to effectuate the intent of the parties as reflected herein.

16. COUNTERPARTS

This Agreement may be executed in counterparts, each of which shall be deemed an original and all of which together shall constitute one and the same instrument. Signatures delivered by electronic means shall be binding for all purposes.

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