Seller Financing Agreement

SELLER FINANCING AGREEMENT

This Seller Financing Agreement (the Agreement) is made and entered into as of by and between Seller Name: (Seller), and Buyer Name: (Buyer). The Seller and Buyer are collectively referred to as the Parties.

RECITALS

A. Seller is the current owner of certain real property described below and agrees to sell that property to Buyer; and

B. Buyer desires to purchase the Property and Seller agrees to extend financing on the terms and conditions set forth in this Agreement.

PROPERTY IDENTIFICATION

PARTY CONTACT INFORMATION

TERMS OF SALE AND FINANCING

Purchase Price: $   Earnest Money Deposit: $

Down Payment: $   Amount Financed (Principal): $

Interest Rate: per annum (calculated on a 365/360 basis unless otherwise agreed).

Amortization Period: years   Term / Balloon: years.

Monthly Payment Amount: $ (principal and interest). First Payment Due: . Payments are due on the day of each month.

Late Charge: If any payment is not received within days after the due date, Buyer shall pay a late charge of .

Prepayment Allowed: Yes No   If yes, Prepayment Penalty:

SECURITY INSTRUMENT AND RECORDING

To secure Buyer's obligations under the promissory note delivered contemporaneously with this Agreement, Buyer shall execute a: Deed of Trust Mortgage recorded against the Property, in form and content reasonably acceptable to Seller. The security instrument shall be recorded at or promptly after Closing.

Escrow for Taxes and Insurance: Yes No   If escrow is established, Buyer shall deposit into escrow monthly amounts sufficient to pay property taxes and hazard insurance premiums as required by Seller.

CLOSING, POSSESSION, COSTS

Closing Date: . Possession Date: .

Closing Costs: Seller shall pay: . Buyer shall pay: .

INSURANCE, TAXES, MAINTENANCE

Buyer shall maintain hazard insurance with loss payable to Seller as its interest may appear and shall provide Seller with evidence of insurance within days of Closing. Buyer is responsible for paying all property taxes, assessments, utilities, and maintenance of the Property unless otherwise set forth herein.

DEFAULT AND REMEDIES

Events of Default include: (a) nonpayment of any amount when due; (b) failure to perform any covenant required by this Agreement; (c) insolvency, assignment for the benefit of creditors, or commencement of bankruptcy proceedings by or against Buyer. Upon an Event of Default, Seller may declare the entire unpaid principal and accrued interest immediately due and payable by written notice to Buyer, subject to the cure period below.

Cure Period: days after Seller's notice to Buyer. If the default is not cured within the Cure Period, Seller may pursue foreclosure or other remedies allowed by law and the security instrument. Buyer shall be responsible for reasonable costs of collection and attorney fees incurred by Seller in enforcing remedies.

REPRESENTATIONS AND WARRANTIES

Seller represents that Seller has good and marketable title to the Property free of undisclosed liens, except as disclosed in writing to Buyer prior to Closing. Buyer represents that Buyer has the authority to enter this Agreement and that Buyer will comply with all covenants and obligations contained herein.

DISCLOSURES

Lead-Based Paint (if property built before 1978): Yes No

Known Material Defects: Yes No

MISCELLANEOUS PROVISIONS

Notices shall be delivered to the addresses set forth above or such other address as a Party designates by written notice. Notices shall be effective upon personal delivery or three (3) days after deposit in the United States mail, postage prepaid, certified return receipt requested.

Governing Law: This Agreement shall be governed by and construed in accordance with the laws of the State of .

Entire Agreement: This Agreement, together with the promissory note and security instrument executed contemporaneously, constitutes the entire agreement between the Parties and supersedes all prior negotiations and agreements. No modification shall be effective unless in writing and signed by both Parties.

Assignment: Buyer may not assign its rights or obligations under this Agreement without Seller's prior written consent. Seller may assign its rights, in whole or in part, provided such assignment does not materially alter Buyer's obligations.

ADDITIONAL TERMS

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