FSA Real Estate Agreement

FSA Real Estate Agreement

Recitals

This Real Estate Agreement (the Agreement) is entered into by and between the parties identified below for the transfer of the Property described herein. The parties agree that the terms and conditions set forth in this Agreement create binding obligations upon execution as provided in the Signatures section.

Parties

Property Identification

Financial Terms

Purchase Price: $ payable as set forth below.

Earnest money shall be delivered to Escrow Agent: at .

Earnest money due by: .

Contingencies and Inspections

Financing Contingency: Buyer shall have days from acceptance to obtain written loan commitment. If Buyer fails to obtain financing within such period, Seller may terminate the Agreement in accordance with the Default and Remedies section.

Inspection Period: Buyer shall have days from acceptance to conduct inspections and deliver written objections. Seller shall have a reasonable opportunity to cure defects or negotiate credits.

Yes No

Closing and Possession

Closing Date: . At closing, Seller shall deliver marketable title, free of liens except those agreed in writing, and Buyer shall deliver the balance of the Purchase Price by wire transfer or certified funds.

Possession to Buyer on: , subject to tenant rights if any and prorations as set forth below.

Prorations, Taxes and Utilities

Real property taxes, assessments, rents, utilities and other periodic charges shall be prorated as of the Closing Date. Seller will deliver any tax statements and supporting documentation to Escrow Agent at closing.

Title, Surveys and Closing Documents

Title Company / Closing Agent: . Seller shall provide a current title commitment not later than . Buyer may object to title matters and Seller shall have reasonable opportunity to cure.

Warranties, Representations and Covenants

Seller represents and warrants that Seller is the lawful owner with authority to transfer the Property, there are no undisclosed material liens or encumbrances, and that Seller will convey title by general warranty deed (or as otherwise agreed) at Closing. Buyer acknowledges reliance upon Buyer's own inspections, surveys and investigations.

Disclosures

The Seller discloses the following known conditions. Buyer acknowledges receipt of these disclosures by initialing or checking the appropriate boxes.

Lead-based paint (if dwelling built prior to 1978): Yes No

Known mold or water intrusion: Yes No

Prior structural damage or repairs: Yes No

Encroachments or boundary disputes known: Yes No

Environmental hazards or contamination known: Yes No

Currently tenant-occupied or leased: Yes No

Maintenance, Access and Risk of Loss

Unless otherwise agreed, risk of loss remains with Seller until Closing. Seller shall maintain the Property in its current condition prior to Closing, except for ordinary wear and agreed repairs. Buyer and Buyer's agents shall have reasonable access for inspections upon prior notice.

Default and Remedies

If Buyer fails to close in accordance with this Agreement (other than due to Seller default), Buyer shall be in default and Seller may pursue remedies including retention of earnest money as liquidated damages, or specific performance where appropriate. If Seller fails to close in accordance with this Agreement, Buyer may seek specific performance or damages, and shall be entitled to return of earnest money unless otherwise provided herein. The foregoing remedies are cumulative and do not exclude any remedies provided by law.

Indemnification and Insurance

Each party agrees to indemnify, defend and hold harmless the other party from liabilities arising from that party's breaches, acts or omissions prior to Closing. From Closing, Buyer shall maintain property insurance as required by applicable law and lending institution(s).

Governing Law; Entire Agreement

This Agreement shall be governed by the laws of the state in which the Property is located. This Agreement, including all addenda and exhibits expressly incorporated, constitutes the entire agreement between the parties and supersedes all prior negotiations and understandings. Any amendment must be in writing and signed by both parties.

Notices

Additional Provisions

Acknowledgment and Certification

Each individual signing below certifies under penalty of perjury that the information provided in this Agreement is true and correct to the best of that signer's knowledge, that the signer has full authority to bind the party for whom the signer signs, and that execution constitutes acceptance of the terms of this Agreement.

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