Real Estate Condo Proposal

REAL ESTATE CONDO PROPOSAL

This Real Estate Condo Proposal (the Proposal) is made by the party identified as Proposer and submitted to the party identified as Recipient as of the Effective Date set forth below.

Parties

WHEREAS

WHEREAS, Proposer is the owner or authorized developer of the condominium unit described below and proposes to sell or otherwise convey the unit to Recipient on the terms and conditions set forth in this Proposal; and

WHEREAS, Recipient has expressed interest in acquiring the condominium unit and having the unit delivered with the scope of work described herein; and

WHEREAS, the parties intend for this Proposal, if accepted and executed by both parties, to serve as the binding agreement setting forth the material terms of the transaction, subject to the conditions and contingencies stated below.

Property and Basic Terms

Property Address:

Unit Number / Designation:    Square Footage:

Effective Date:    Anticipated Closing Date:

Scope of Work

The Proposer shall deliver the condominium unit and related improvements in accordance with the following description. The scope below is a material part of this Proposal and controls over any inconsistent general statements.

Payment Terms

Total Purchase Price: $

Deposit Due Date:   Applied Toward Closing:

Late Payment Fee:

Contingencies

Financing contingency:   Inspection contingency:   Title approval contingency:

Term and Termination

Proposal Start Date:    Anticipated Delivery / End Date:

Either party may terminate this Proposal for material breach if such breach remains uncured for the notice period above. Termination for convenience by either party shall be governed by any agreed termination payments set forth in the Payment Schedule.

Confidentiality

The parties acknowledge that during negotiations and performance they will receive Confidential Information. For a period of three (3) years from the Effective Date, each party shall (a) hold Confidential Information in strict confidence; (b) use Confidential Information solely for purposes of evaluating and performing this Proposal; and (c) not disclose Confidential Information to any third party except as required by law or to professional advisors who are bound to confidentiality. Confidential Information does not include information that is or becomes publicly available through no fault of the receiving party.

Governing Law; Dispute Resolution

This Proposal shall be governed by and construed in accordance with the laws of the State of , without regard to conflict of laws principles. Any dispute arising out of or relating to this Proposal shall be resolved by binding arbitration or in the courts of the governing state as elected in a subsequent agreement; the parties acknowledge arbitration may be sought for specific performance or other equitable relief where permitted by law.

Representations; Warranties

Each party represents that it has full corporate or individual authority to enter into this Proposal, that the information provided to the other party is true and correct to the best of its knowledge, and that no litigation or legal impediment prevents performance of the obligations described herein.

Entire Agreement

This Proposal constitutes the entire agreement between the parties with respect to the subject matter hereof and supersedes all prior proposals, understandings, and communications, whether written or oral. Any amendment or modification must be in writing and signed by both parties.

Notices

Additional Provisions

Execution of this Proposal by both parties constitutes acceptance of its terms. Unless otherwise agreed in writing, acceptance must occur on or before the date specified in any offer deadline set by Proposer.

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