Real Estate Lots Form

REAL ESTATE LOTS FORM

This Real Estate Lots Form (the "Agreement") is entered into on Date: by and between the parties identified below. This Agreement sets forth the terms for the sale and purchase of one or more vacant lots described herein.

Parties

Property Identification

Subdivision Name:    Lot Number(s):

Purchase Terms

Deposit to be delivered to Escrow Agent within business days after acceptance. If deposit is not timely delivered, Seller may treat Buyer in default.

Closing Date:    Possession Date:

Escrow and Title

Title Evidence and Owner's Policy to be provided by: . Buyer to pay for standard owner's title insurance policy: Yes

Utilities, Access, and Improvements

Availability of Utilities: Water Connection: Yes    Sewer/Septic: Yes    Electricity: Yes

Disclosures — Mark Yes or No and Provide Details Where Required

Located in Floodplain?   Yes   No

Known Environmental Contamination?   Yes   No

Wetlands or Protected Habitat?   Yes   No

Recorded Easements or Rights-of-Way?   Yes   No

Subject to HOA or Covenant Restrictions?   Yes   No

Survey, Acceptance, and Title Review

Buyer may obtain at Buyer's expense a boundary survey and soils report within days following opening of escrow. If survey or title objections are not cured within days after notice, either party may terminate.

Assessments, Taxes, and Prorations

Real property taxes and assessments shall be prorated as of the Closing Date. Buyer shall be responsible for any special assessments levied after Closing. Any outstanding assessments known at time of closing:

Warranties; Seller Representations; Buyer Acknowledgment

Seller represents that Seller is the lawful owner of the property and has authority to convey marketable title subject only to recorded exceptions agreed to in writing. Seller makes no other express warranties, except those set forth in this Agreement. Buyer accepts the property subject to all recorded covenants, conditions, restrictions and easements except as specifically excluded in writing.

Default; Remedies; Liquidated Damages

If Buyer fails to perform, Seller may elect to retain earnest money as liquidated damages, pursue specific performance, or seek other remedies permitted by law. If Seller fails to perform, Buyer may seek specific performance, return of deposits, and damages. The parties agree that monetary damages may be inadequate and specific performance may be appropriate where permitted by law.

Governing Law; Entire Agreement

This Agreement shall be governed by the laws of the State selected by the parties at execution. This Agreement, together with exhibits and escrow instructions executed contemporaneously, constitutes the entire agreement between the parties and supersedes all prior negotiations and agreements, whether written or oral.

Acknowledgment

Each party acknowledges that they have had the opportunity to seek independent legal counsel, have read and understand the terms of this Agreement, and agree to be bound by its terms as indicated by their signatures below.

Sign Now