Lot Specification Document

LOT SPECIFICATION DOCUMENT

RECITALS

WHEREAS, Owner Name: is the record owner of a parcel of land identified as Lot No. , Parcel/Tax ID: located at (the "Lot");

WHEREAS, Purchaser Name: desires to acquire and develop the Lot in accordance with the specifications, restrictions and conditions set forth in this Lot Specification Document; and

WHEREAS, the parties desire to set forth the Lot identification, permitted uses, required improvements, payment terms and other material obligations governing the Lot in this written specification document, which shall form part of the binding agreement between Owner and Purchaser.

LOT IDENTIFICATION & SURVEY

Survey Reference: — Survey Date:

Total Area (acres/sq ft): — Frontage: — Depth:

SCOPE OF WORK

The Scope of Work describes the specific physical improvements, access, utilities, and compliance obligations required for the Lot. The Scope of Work below is a material term of this document and must be completed in accordance with applicable permits and regulations.

IMPROVEMENTS & UTILITIES

Required on-site improvements shall include grading, access drive, and utility stub connections as specified below. Owner warrants that any existing improvements are accurately described.

Water Sewer Gas Electricity Storm Drainage

EASEMENTS, RESTRICTIONS & ZONING

ENVIRONMENTAL, SOIL & DRAINAGE

Soil Report Attached: — If other reports attached, identify:

INSPECTION, ACCEPTANCE & WARRANTIES

Purchaser shall have an inspection period of days following substantial completion of the improvements to review conformance with the Scope of Work. Acceptance shall be deemed to occur upon written acceptance or upon lapse of the inspection period without written objection.

PAYMENT TERMS

As consideration for the Lot and required improvements, Purchaser shall pay the amounts and on the schedule set forth below. Payments that are not made when due shall accrue late fees as specified.

Late Fee: . All late fees and collections costs shall be in addition to the principal amounts due.

TERM & TERMINATION

Commencement Date: — Scheduled Completion / Term End Date:

Either party may terminate this document for material breach if the breaching party fails to cure within days after written notice. Termination for convenience by Purchaser requires days prior written notice to Owner subject to payment of any required termination fees stated in the payment schedule.

CONFIDENTIALITY

Each party shall maintain in confidence all non-public technical, financial and business information disclosed in connection with this Lot Specification Document and shall not disclose such information to third parties except to its agents, contractors or lenders on a need-to-know basis and only if those recipients are bound by confidentiality obligations no less protective than those set forth herein. Confidentiality obligations shall survive termination for a period of three (3) years.

GOVERNING LAW & DISPUTE RESOLUTION

This document shall be governed by and construed in accordance with the laws of the State of without regard to its conflict of laws principles. Any dispute arising out of or relating to this document shall be resolved by litigation in the courts of that State or as otherwise mutually agreed in writing.

ENTIRE AGREEMENT

This Lot Specification Document, together with any exhibits, surveys and attachments expressly incorporated by reference, constitutes the entire agreement between the parties with respect to the Lot and supersedes all prior and contemporaneous agreements, understandings, negotiations and discussions, whether oral or written. Any amendment or modification must be in writing signed by both parties.

NOTICES & CONTACTS

ADDITIONAL PROVISIONS

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