HomeMy WebLinkAbout1992-17 Authorizing the Purchase of Unplatted Plat of the Southeast One_Quarter of Section 1, Township 5 South, Range 81 West of the 6th Principal MedianRESOLUTION NO. i7
SERIES 1992
A RESOLUTION AUTHORIZING THE PURCHASE OF
THAT UNPLATTED PLAT OF THE SOUTHEAST ONE-QUARTER
OF THE SOUTHEAST ONE-QUARTER OF SECTION 1, TOWNSHIP 5 SOUTH,
RANGE $1 WEST OF THE 6TH PRINCIPAL MERIDIAN,
LYING NORTHERLY OF THE LION'S RIDGE LOOP
AS SHOWN ON THE RECORDED PLAT OF THE LION'S RIDGE SUBDIVISION
RECORDED JULY 25, 1969, IN CASE 2, DRAWER L, AND BOOK 215 AT PAGE fi49,
COUNTY OF EAGLE, STATE OF COLORADO ("THE PROPERTY").
WHEREAS, the Town Council believes it will benefit the public health, safety, and welfare
to purchase the property for open space, parks, or other municipal purposes.
NOW, THEREFORE, be it resolved by the Town Counci! of the Town of Vail, Colorado:
The Town Manager is hereby authorized to enter into the contract to buy and sell
the property attached hereto as Exhibit "A" and made a part hereof.
2. The Town Manager and the Town staff are authorized to take whatever steps are
necessary to complete the purchase of the property by the Town of Vail from Abe L. Shapiro.
3. This resolution shall take effect immediately upon its passage.
INTRODUCED, READ, APPROVED AND ADOPTED this 2dth day of October, t 992.
Marg ret A. Osterfoss, Mayor `
ATTEST:
M.~- ~. ~
Martha S. Raeclcer, Town Cleric
C3RESOLU92.17
the printed portions of this form approved by thel .Colorado Real Estate Commissian (CB5~-5-89)
THIS f S A LEGAL INSTRUMENT. IF NOT UNDERSTOOD, LEGAL, TAX OR OTHER GOUNSEL SHOULD BE GONSULTEp BEFORE SIGNING.
VACANT I.ANU/FARM ANU RANCH
CUN'I'RAC'1"1'U ISUY ANU SELL REAL CS'I'AI'E
Seller's rcnteJy Liyuiclatcd L?atttagcs or Specific Perfc)rmance (Section 16)
1. 1'Alt'1'IM;SiANUI'RbP1~.R'1'Y. ..~~~ ~(,~ `'~'`~'r""r~~J•~• ~
purcVSaser{s) [Purchaser[, (as joint tenants/tenents in comtnon)
agrees to 6u
Y
and the tin Igoe eller(s) [Scllerl, agrees In sell, an the Icons and can itirnts set fnrtl ' n I is contr t, t e following describe al
eslat~in the Count of , Colorado. to wN: P ]_G`J~/J_~r
fie rd a.~ 1~
r ,
known as Nr.). ' ! ~~~ ,
IStrce+ Address. City, Scale, 7.tp1
together with ail interest of Seiler m vacated streets and alleys adjacent Iherelo, all easements and other appurtenances thereto, all improvements thereon
and all attached fixtures thereon, except as herein excluded, and tailed the Property.
NS, The purchase price includes the following items (a) if attached to the Property on the date o(this contract: lightin , h
plumbing, ventilating, and air co .,..., res, TV antennas, water softeners, smoke/firelburglar aiarnts, sec w~iees; costae telephone wiring
and connecting hlucksljacks, plurals, mirrors, fkxrrcnverings, one,...,,, ,.gectttgs;built-iQi(.itcir lances, and sprinkler systems and controls; (b) if on
1-- -
the Property whether attached ur nut on the date of Iltis cc - n vas uutn systems (Inc tic m~ ..«aFwtiC3,). storm windows, storm doors, window
and porch sltadcs, awning ., .crccns, curtain rods, dr,grcly reds, fireplace inserts, fireplace screens, fireplace grtttt , Cloves,
st.,:;.~lI.,_~ncus, all keys and garage dour openers i ~cluding renwle ctlnlhris; a7td (C}
pp
r ~d ~ ((fnA
Id} Water Rights. Purchase price to include the fo[Iowing water rights: ~~~
e) Growing Crops. With respect to the growing crops Seller and Purchaser agree as follows: ~ ~/. ~~~
The above-described included items (Inclusions) arc to be conveyed to Purchaser by Seiler by bill of sale, ~~~
deed or other applicable legal instrurncnlf s) at the closing, Free and clear of al! taxes, liens and encun-brances[ except as provided in section 10.
The following attached fixtures are excluded from this sale: ~ jF}
3. YURCIIASE PRICE ANU 7'1sRM11S. The purchase price shall be $ f ~~~ ~ , payable in U:5. dollars by Purchaser as
follows (complete the applicable terms below):
a) Earnest Money. r!~
in m of V s earnest money deposit and part payment of the purchase
price, payable to and held by :..J ..., :..:,.J ,..'., :rest
lb) Cash at Closing.
to be paid by Purchaser at closing in cash, electronic transfer furnls, certified check, savings and loan tdler~ check, or
cashier's check. Subject to the provisions oCsection 4, if the existing oan balance at the time of ct crag s II ifferent he I n bat ce' ecC
the a 'ustment shall b ad in cash at closi g or paid as ful I s• 0 ~
x l7O D .
lc) New f,ogn.
S~ by Purchaser obtaining a new loan. 'This loan will he secured 6y a (Ist, 2nd, etc.) deed n t.
The new Ina haler shall he amrlrtized over a period of years at approximatciy $ per
inclu ci al and interest ncri tcl exceed 96 per annum, I quired by Purchaser§ lender
a deposit of o toted annual real estate taxes, property insu rcmium, and mortgage insurance premium.
If the loan is an adjustable interest talc or graduated payment loot , •menls and ' rate initially shalt not exceed the figures set forth above,
Loan discount points, if any, shaft he paid to lender at closing ands ex ~ ~, of the total Ivan amount.
The first f t, 2, t'tc.) loan discount points sh• auE by
alai the balance, i[ any, shall be paid by _~-
Purchaser shat ltime! tan origination fee oral to exceed ___ rk of the kran amount and Purchaser's loan costs. any appraisal
for loan put 1 nhlaiacd after this date shall he paid by
n Itpplicalirln as rcquircd by lender.
No. CIfS3-5-89, VACANT' 1,ANUltARM ANn RANCH ('ONTRACT Ttl Nt15" ANU SF,t,I. kF:At. F,STATF.
Hradt+~rd F'atdi4hinF. 17A? Rarcc St ,Urn+cr. Ctl RO:n2 -•f303t 292.25011-- 6 R9
d) Assumption.
by I'urC'llaser'S ati4Ullling attd agrccinF to pay an existing loan in this appmximAle anwunt, prcscntly paya6lc I
S per including principal, interest presently at per
annum, nd induding escrow for the following as indicated: ^ real estate faxes, ^ property insurance premium, ^ mortgage insurance p ium,
and Porch cr agrees
to pay a loan ansfcr fee nut En exceed S . AI the time of assurttpti+,n, the new interest rdc shall not exceed %
per annum aln-dl a newt--payment shat! nnl exceed S plus escrow, if any.
Seller ' f Eh' ,_~ tihall opt 6e rcEeased from liability on said l+,an. If op}+licahlr, contnlianre with the requirements fnrrelease m liability shall
be evidenced by deli y at closing of appnlpri:uc fence fmrtt lender. Cost p;tyable Fur release nF tiahility shall he paid by
in an amount not In exccrd S
e) Seller or Private ird-Party Financing.
S \ y Purchascrexecuting a promissory note payable tn:
un the note fo tt as indicated: (check one box)
O Right-trnCurc NTD 82-I 83 ^ No Right-u,-Cure NTD 8!-t 1-83 ^ __ __
secured by a (Ist, 2nd, etc.) decd of trust encumbering the Property, using the form as in 'aced: (check one box)
Strict Due-on-Sale (TD 72-11- ) ^ Creditworthy (TD 73.1 E-83) ^ Assumable-Not due on sa (TD 74-I I-83)
f1
The promissory note shall be amortized on he basis of years, payable at $ ~ per
including principal and interest at the rate of 9b per annum. Payments shat! tom encl•
and shall be due on the day f each succeeding ,
if not s+l+tncr paid, the h:duncc of principal :Ind accnrc+ 'nlerest shall fk due anal p:lyuhh•
aftcrclusir,g. I'uynlcnts CI shall [.) silall nnl he lure • std liy of cstin tcd annual real estate taxes, and ^ shall ^ shall not
he incrcascd by of cstintaled annual propert insurance premium.
The Ivan shalt alss, contain the following renns as indicate f any p:ryment is n+,t rc rived within c;dcmlur days after its due dale, a late
charge of 3r, of such payment shat l he due. Interest on uder tlisburscnrc s under the decd nC trust shall he %
per annum. Default interest rate shall he "/e per a um.
Purchaser may prepay without a penally except
4, FINAN('[N[; CUNDCI'IONS AND OIILI(~A'rfONS. (a) Lnal Iplicationls). If Purchaser is to pay all orport nfthe purchase price as set
firth in src•liun 3 by nhtaining a orw Iran ar if an existing Iran is nut to h rc ~ISCd at closing, Purchaser, if rcyuircd by such lender, shall make written
application within calendar days from acceptance of this c tlract. rchaser shall cooperate with Seller and lender to obtain loan approval,
diligently and timely pursue same in good faith, execute all dt,curne .and furnish , I infilrmation and documents required by the lender, and, subject to
section 3, timely pay the costs of obtaining such loan or lenders scut.
b) Loan Approval. If l'urchascr is u, pay all ur partnf the urehasc price by obu:inin anew loan as specified in section 3, thiscnntract is conditional
upon lender's approva! of the new loan nn or before , 19 . If not so approved by said date, this contract shall
terminate. [ f the loan is sa approved, but such proceeds a not available to Purchaser ss rcquin in section 5 {Good Funds} at the time oFclosing, closing
shall be extended one time fur rllendar d• s (nut to exceed (S) fivcl. [f sufficient fun s are not then available, ibis contract shall terminate.
c} F.xistlug•[.oan Review, [f an existing to is not to be +eleased at closing, 5cllcr shall p ide copies of the loan documents (including note,
deed of trust, modifications] to Purchaser wit ' calendar days fn,m acceptance of this ntract. This contract is conditional upon Pur-
chaser's review and approval of the prnvisinns such loan docurents. I'urchascr cnnsctds la the pntvisions such loan ducuntents ifnu written objection
is received by Seller or l.itilinl; Couq,:tny ' um I'urchaher within calemlar days from Purclutsvrti eccipl of such d+xurncnls. If Ilse lender's
approval of a transfer of the f'ropcrty is r quircd, this contract is conditional ul,nn Purchaser's nhtaining such app vat without change in the terms of such
loan, except asset forth in section 1. lender's approval is not obtained on or hefor~ , 19 ,this
contract shat! he terminated on su date. If Seller is to he released front liability under such existingloan and Purchus does not obtain such compliance
as set fi,nh in section 1, this ca ruc•t may he lenninatcd at Seller's srytliun.
d) Assump(iun Ilalane . If Purchaser is kl pay all ^r part of lhr purchase price hp assuming an existing loan and if tl actual principal balance of
the existing bran at the d• of closing is less Ihan the amount in section 3 by more than S ,then Pu aser may terminate this
contract effective upo eceipt by Seller or Listing Company of Purchasers written notice of termination.
e}Credit Infer at ion. ! f Purchaser is to pay all ur port of the purchase price 6y executing a pmntissory note in favor of Seller if an existing loan
is not to he rclca • d at closing, Iles l-+InIr:ICI IS Cfllldlllnn:d np+ln SC1Icr's :Ippmv:d crf Purchaser's financial ability and creditworthiness which approval
shall be at Set is sole and absolute discretion. In such case: (l1 Purchaser shall supply to Seller on ar before ,
14 , at Purchaser's expense, infnrntation and documents rnncerning Purchaser's financial, emplnyntenl and credit condition; ( Purchaser
consent. fat Scllcrmay verify Purchaser's financial ability mid creditworthiness: (3i any such infi,nnalion andda,cuntents rcceivedby Sellersha beheld
by Se ~r in confidence, and not released to others except k, protect Seller's interest in ibis Eransaclion: f4} if Scllcr does not provide wrinen no ' e of
Sel is disapproval to Purchaser on ar before , 14 ,then Seller waives this condition. if Seller s
ovide written entice of disapproval In Purchaser nn or before said date, this cunlract shall terminate.
5. GOOD FUNDS. AI! payments required at closing shall he made in funds which comply wish all applicable Colorado laws.
fi. NOT ASSi[;NARI,F.. This contract shat! not be assignable by Purchaser without Seller's prior written consent. Except as so restricted. [his
contract shall inure to the benefit of and he binding upon the hears, pets n:~'rcpresrn~ut~ives, successors and assigns of the parties.
7.EVll)F,NCF.OFTITf.E. SeltershalEfurnishtol'urrhaser.at~e~lSj,+IlS,eithrracurrentcommitmentfornwner'stitleinsurancepolicyin
an amount equal to the purchase price or at Scller'schnic•e, an abstract of title cerlifird to a cttrrent date, on nr before ..wa,r' r~~ ,
19 . !f a title insurance atnuniunrm is furnished, f'mrhascr may nyuirc t+f Scpcr Ehat copies of inslruutcnls (or abstracts of instruments}
listed in the schedule of exceptions fExceptinns) in the title insurance contmihnent also be furnished to purchaser al 5eller's expense. This requirement
shat! pertain only !o instrwnents shown of recnrd in the office of the clerk and mcarder of the designated county or enunties. The title insurance
ennunilrnent, together wish any copies nr abstracts nl• iaslruutrnls furnished pursuunl to Ibis section 7, constitute the IiIIC ducuntents (Title DuCUntents).
Purchaser must request Seller to furnish copies or abstracts of insvuntents listed in the schcduk of exceptions no later Ihan ~ calendar days
after Purchasers receipt of the lido insurance commitment. 1f Seller furnishes a title insurance connnilnten+. Seller will have site title insurance policy
dclivcred to f'urchascr as soon as practicahtc offer closin(! ;Ind pay the premium ut closing:.
K. '1'1'r1.F;. (al 'I'iflc Itevlew. I'urch;lscr sh~lll have the right dl iutipc:ct the 'I'illc lhrcuntcnts ur Ilhstr,lcl. 1Vrillcn notice 1,y Purchaser oY
umnerchantubility of title or of any other unc:dkfacl+rry title condition st+nwn hY tllc Title Documents or abstract shall he signed by or on behalf of
Purchaser and given la Seller nr Listing Company nn or before ? calrnd:tr days after Purchaser's receipt of -title D+tcuntenls or abstract, or
within five (S} calendar days after receipt by Purchaser of any Title Docunu,nt(sl or cndarst:rnent(s) adding new F.xceptinnfsl to the title commitment
k,gclher with a copy of Ihc'hillc Document adding new lixecplinrt(s) to Eitlc. If 5rllcr ur Listing ('untpany does nut receive I'urchascrs notice by the dale(s)
spccif•ied about, Purchaser shall hr deemed to have accepted tltc condition of tills as +lisclnsed by the "title !)ucuments as s:uislitclory.
Ih) blotters Nnt Shown by the Public Rccnrds. Seller shalt deliver to Purchaser, nn or before the dale set forth in section T, true copies oC all
lease(s) and survcyfs) in Scllcr's possession pertaining to fire 1'ntpcrty and shall discfusc to Purchaser a{I easements, liens orothertitle matters not shown
by the public records of which Seiler has actua) knowledge. Purchaser shall have the right to inspect the Property to determine if any third party(s) has any
right i n the I'ntperly not shown by the public records (such as an unrecorded easement, unrecorded lease, or 6lwndary line discrepancy). Written notice of
any unsatisfactory condition s) diseloscd by Scl Icr or revealed by such inspection shall he signed by oron behalf of Purchaser and given to Seller or Listing
Company on ur before ~~0 , ts) ~ ~ . If Scl Icr or Listing Company does not receive Purchaser's nailce by
said date, Purchaser shall he deemed to have aceepred title subject to such rights, il' ,eery, of third parties of which Purchaser has actual knowledge.
c) Right to Cure. If Scllernr Listing Coatpany receives nolicenf unntcrchantahility of titre many otherunsatisfactvey t)t)econdition(s) as provided
in subsection (a) ur fh) shove, Seller shall use reasonable effort Icr cnrrec•t sail unsatisl:rctory title condition(s) prior to the date ofc[osing. If Seller fails to
correct said uns:nislirctury title condition(s) on nrl+elitrc the date of closing, this contract shall then terminate. subject W section 17; provided, however
Purchaser Wray, by written notice received by 5el Icr ar Listing C u7ny ou or before closing, waive objection to said unsatisfactory title condition(s).
9. DATE OF CLOSING. The date of closing shall be ~~~ ~ ~ ~ ~' , or by mutual agreement at an earlies date.
The hour and place of closing shall be ~° •!°'~ ~!i~ ~ °~v~~ '
1U. TRANShF,R UN "1'I'1'LE. Subject to tcndcror payment an clusi gas rcyui d herein and ntpliance by Purchaser with the other terms and
provisions hereof, Seller shall execute and dcflver a good and sufficient ~ ~~~ deed to Purchaser,
on closing, conveying the Property free and clear r+f all taxes except the gcncrtl taxes for the year of closing, and except ~~
Tree and char srf a!I {lens Far special improvements installed as of the date
of Purchaser's signature hereon, whether assessed or not; except distribution utility easements, including cable TV; except Ihvse matters reflected by the
Title 1)ocumcnts accepted by Purchaser in seer+rdance with subsection 8(a}; except those rights, if any, of third parties in the Property not shown by the
public records in accordance wUh subsection 8(b}; and subject to building and zoning regulations.
ll. PAYMENT OF ENCUh1I1RANCE.S. Any encumbrance required tv be paid shall be paid at or before the time of senlement from the proceeds
of this transaction or fmrn any other source.
I2. (.'1.t)tiINC COSTS, I)OCUMF:N'I:S ANII SI':RVICh:S, .Vtrrchascr~~-r~t*{+~elf ~..:.v h: zl~.:,iag~rweegt,ae
otherwise provided herein. Nurchascr and Seller shalt sign and complete all customary or reyuircd dcxuntents Wt yr before clo 'ng. Fe s tut real; state
r~ .1.1~iw.rCe~
13. PIiURA'1'iUNS. Cicneral .txcs for the year of closing, based on the mast recent levy and Ilse must recent • ssessalent. rents, water and sewer
charges, owner's association duty, and interest on continuing loan(s), iF any, and fd,
chalE prorated to date of closing.
Any sales, use and transfer tax Thal may accrue because of this Irantacliun shall be paid by .
14. i'U55ES5fUN. Possession of the Property shall he dcliveresl In Purchaser as follows: lw ~ ~`,d, 7~
subject to the fvlbwing lease(s) or tenancy(s):
If Seller, after closing, Tails to ~e~ vet }x+ssession un the date herein specified, Seller shall be subject tv eviction and shall Ix additionally liable to
Purchaser for payment of S ~ per day from rite date cif agreed possession anti! possession is delivered.
l5. CONUI"PION OF ANU UAhIAGF. TO PRUPF;RTY. The Property and inclusions shall be conveyed in their present condition, ordinary
wear and tear excepted. In the event the 1')openy shall he damaged by fire or other casualty prior lv time of c[vsing, in an amount of not [Wore than
ten percent of the tats! pttrchasc price, Seller shall he obligated to repair the same before the daft of rinsing. ]n the event such damage is not repaired
within said lime nr if the dantagcs exceed such cunt, this contract rosy be terminated al rite option of Purchaser. Should Purchaser elect to carry out this
contract despite such damage, Purchaser shall be entitled to credit fur ail the insurance proceeds resulting from such damage to the Property and
Inclusions, not exceeding, however, the iota! purchase price. Should any Inclusion(s) or service(s) fall or be damaged between the date of this contract
and the date of closing or the date of possession, whichcvcr shall he earlier. then Seller shaft be liable fur the repair or replacement of such Inclusion(s)
or service(s) with a unit vF sirnilar sire, age and yualily, or an cyuivalcut credit, less any insurance proceeds received by Purchaser covering such
repair ur replat~utcnt. Z he risk of lens (or :my danrrge to growing crops, by fire or other casualty, shall he borne 6y the party entitled w the growing crops,
if any, as provided in section 2 and such party shall 6e entitled to such insurance proceeds or l+encfits fur the growingcntps, if any.
16. T1h1E OF ESSENCF•/REM1IF.DIE5. Tirme is of die essence hereof. 1(any note or check received as earnest money hereunder or any other
payrncnt due hcreundcr is not paid, honored or tendered when due, nr if any othcrobligation hcreundcr is not performed or waived as herein provided,
there shalt he the fi~lluwing remedies:
la) IF PURLIIAtiF:R IS IN I)EFAUI:I':
fFTl1E I3pX IN SUf3SECTIC)N (!) I5 CIIECKED, SELLER :5 R}:i+ti:U1GS 5}IALL l)E AS 56"[' F[)R'TH IN SUI3SECTlON (()
ISPF:CIFlC F'Elif~()Itl`fANCl:I. IE SAID f)O)C 15 NU7' CHECKEf), SELLER'S REMEDIES SHALL 8E AS SET
1~UR~fH IN 5UEi51:C'f1UN S2) ILI(1UIUAfGI) llAMAGI:SI.
J(1) Specific I'erfnrmance.
Seller may elect to treat this contract at cancel led, in which cast al I payments and things of value received hereunder shall be forfeited and retained
on behal f of Seller, and Setter may recover such damages as [nay be proper, or Sel ter Wray elect to treat this contract as being in full force and effect
and Seller shall have the right to specific performance or damages, or both.
2) Liquidated Damages.
All payments and things of value received hereunder shat! be Forfeited by Purchaser and retained on behalf of Seller and both parties shall ihtreafter
be released from all ohligatinns hereunder. It is agreed that such payments and things of value are LIQUIpATED DAMAGES and (except as
provided in subsection tc)) are SELi.liR'S SU1.E AN1) ONLY RE.>v1EUY for Purchaser's failure In perform the obligations of this contract. Seller
expressly waives the remedies of specific performance and additional damages.
Ih) IF SEsLl,F.R 151N pI:FAUI,T:
Purchaser nnty elect to t real this cool race as cancel Icel. in which rant al) payments and things of value receivetl hcreundcr shall ht rclurned•et~'
r,,... ,... ....~. .7.. .. `F:~_ _a-~ rna-crRe'i-ores'
c) CUS'I'S ANI) IsXI'1?N5lsS.
Anything to the contrary herein notwithstanding, in the event of any litigation vrarbitralinn Writing out of thiscontract, the court shall award to
the prevailing party all reasonable costs and expense, including aHorney fees.
I F.5'f M()NFY I)15PU'1'F:. N7+twithslanding any tcnttimuion of this contract. Purch:7ser and Seller agree that, in the evenrp[sp3r.
eontrnvcrry 7cganlint! nc~ carnerl m+ :~ ~ ....? tl.iw{vur' •~=due held by hrvikc r nr cfming ngrnt, unless ntutuul wri7rµy.q}yl tK me received by the holder of
the earnest nuutey and [Eli ngs of value, broker nr closing agent shah n~a ' auy„~~}inn but may await any pnxecding. or ar broker 5 or closing
agent's option and col ..ry uuerptead al I parties and deposit any moneys or things of value into a court o[ ctrrrrpettwt-jut:i5d1Clinnand s>
vcrciturt costs and reasonable attorney fees.
r..
1g. INSPECTfON. Purchaser ar any designee, shall have the right to have inspection(s) of the physical condition of the Property and Gtclusians,
td I'urclrascr'x exlkasc. If written clot. ic;~.tlf arty unsarisGrctory couditir+n, siltned by i'urchnsrr, ix n++l rrecivcd by Seller or Listing Compnny
on nr before 1~1 /`~~1 , 19 ,the physical condition of the ~perty and Inclusions shall
be deemed to be satisfactory to Purchaser. If written notice of any unsatisfactory condition, signed by Purchaser, is given Ia Seller or Listing Company
as set Furth above in
1his~~lion, and if Purchaser and Sclfer hove not reached a written agreement in settlement thereof an or before
E9 ,this contract steal! then terminate, subject to section 17. Purchaser is responsible and shall
pay far any clarnage which occurs to the Property and Inciusiun • rrs a result of suck inspection.
19. A(;F.NCY 131SCLU5URE. The listing hmker,
and its subs agents (Listing Company) represent Seller. The rsting Company owes duties of Erust, loyalty aril confidence to Seller only. While the
Listing Company has a duty to treat Purchaser honestly, the Listing Company is Seller's agent and is acting on behalf of Seller and not Purchaser.
BY SIGNING BELOW, PURCHASER ACKNOWLEDGES PRIOR TIMELY NOTICE BY LISTING OR SELLING COMPANY THAT LISTING
COMPANY lS SELLER'S AG>N~AThesellingbroker,
and its sales agents {Setting Company) represent: [1F T}IE B().~{ IN SUBSECTION (h} IS CHECKED, SELLING COMPANY
RI:I'RESENI'S PURCIfAS1:R UNl.Y, AS Sf:1~ FQRI'll IN SUBSEC'i'IUN (b), IF THE BOX iN SUBSECTION (b) IS NUT
CHECKED, SELLING COMPANY REPRESENTS SELLER ONLY, AS SET FORTH 1N SUBSECTION (a).}
a) Seller. The Selling Company owes duties of trust, loyalty and confidence to Seller only. While the Selling Company has a duly to treat
Purchaser honestly, the Selling Company is Seller's agent and is acting nn behalf of Seller and oat Purchaser. BY S[GNING BELOW, PURCHASER
ACKNOWLEDGES PRIOR TIMELY NOTICE BY SELLING COh4PANY THAI' SELLING COMPANY IS SELLER'S AGENT.
h) Purchaser. ff the box is checked: 'Che Selling Company awes dudes of trust, loyalty and confidence to Purchaser only. While the SellingCompanyhasadutytotreatSellerhonestly, tl:e Selling Company is acting nn behalf of Purchaser and not 5cller. SELLER AND LISTING COMPANY
ACKNOWLEDGE PRIOR TIMELY NOTICE BY SEL~LoI,N~G.~COMPANY TI~Ai' IT•IS PUR~CH-A-SOER'S AGENT.
20,
A[)1~31TyIU~NA'IL,PROVISIONS: ND r~.G,/.~~Q.i~at/i~~r~(/!/~. ~Grfn/(rlLGt~A' WI
O~R / r
2l. RF.C()h[MFNI)ATION OF 1.EC;AL COUNSF,I., By signing This dr+curnent, Purchaser and 5cller acknowledge that the Selling Company
or the Listing Company has recommended that Purchaser and Seller obtain the advice of their own legal counsel regarding examination of tike and
this contract.
22. TERMINA'I70N. In the event this contract is terminated, alt payments and things of value received hereunder shall be returned and the
parties shall be relieved of all obligations hereunder, subject to section t7.
23. NO"C1CF. OF ACCEPT N EICi)U TERI'AR' S If This pmpusal is accepted by Scher in writing and Purchaser receives notice of such
acceptance an nr bcli+re Q~ ~ 19 Q' ~• , this document shall hecunre a contract between Scllcr and Purchaser.
A copy of this ducurnent may he executed by each party, separately, and when each party has executed a copy thereof, such copies taken together shall he
deemed to he a full and c rnplete contract between the parties.
t~ a>F _l~ r ~l ota-g~
a'~I~~J`"(^r`_' ~ Dale F'urchnsrr Dart
r
Purchaser's Address
TO BE COMPLETED BY S>~LLER AND LISTING CAOMPANY[
2M..ACCEPTANCI3~9[4ip~iitliSl~N, Seller accepts thfe/ above proposal this ~~~day of r~/~+-tJ1 , l9 ! oZ ,
Sel ter shalt p s the Listing Company a commission of N/A ~o of the gross purchase price or N~/3
as agreed upon bet Seller and Listing Company For services in this transaction. ~n the event of forfeiture of paym and things of value received
hereunder, such payments things of value shall be divided between Listing Company and Seller, one-half of to Listing Company, but not to
exceed the cp(ttmissian, and ce U) Seller.
Selkcr )art Scllcr art
Seller's Address ,. ~ ~ CL....}_ , _ _ __- .,..__., .
The undersigned Selling Company acknowledges receipt of arrest rnnne • alit slxrcificd in section 3 and built Sailing Compnny and ListingCompanyconfirmtherespectiveagencydisclosuresetfursectionIN.
Selling Company
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LSiynnlurel
UntcIlddrr;ss
Listing Campo
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