Revival Properties, LLC

10810 N Tatum Blvd, Ste 102-668, Phoenix, AZ 85028

(507) 476-4565 | connect@revivalproperties.net | www.revivalproperties.net

PURCHASE TERMS OF USE

NO BROKER – VACANT RESIDENTIAL LAND

WARNING: THIS AGREEMENT HAS SUBSTANTIAL LEGAL CONSEQUENCES AND THE PARTIES ARE ADVISED TO CONSULT LEGAL AND TAX COUNSEL.

These Purchase Terms of Use govern the sale of vacant residential land by Revival Properties, LLC (“Seller”) to a Buyer (“Buyer”). Two purchase paths are available: a Cash Purchase, and an Owner Financing purchase. The terms that apply to your transaction are the terms under the path you select. For value received of Ten Dollars and other good and valuable consideration, receipt and sufficiency of which is acknowledged, Seller and Buyer covenant, contract and agree to the terms below.

Part 1: Cash Purchase Terms

This Part applies when Buyer purchases the Property with cash, with no financing contingency.

AGREEMENT TO SALE AND PURCHASE: Seller agrees to sell, and Buyer agrees to buy from Seller, the property described as follows – APN: [APN]; County: [County]; State: [State]; Legal Description: [Legal Description]. All property sold under these terms is called the “Property.”
SALES PRICE: The parties agree to the following sales price – Purchase Price: [Purchase Price]; Down Payment Money: [Down Payment Amount]; Balance Due: [Balance Due].
CASH SALE: This contract is not contingent on financing.
DOWN PAYMENT MONEY: Buyer has deposited [Down Payment Amount] as down payment money with Revival Properties, LLC. Additionally, Buyer acknowledges a one-time processing fee of [Processing Fee Amount] due at signing.
PROPERTY CONDITION: Buyer represents that they have personally inspected and examined the Property and accepts the Property in its “as-is” and present condition.
UTILITIES: The present condition of all utility access to the Property is accepted by Buyer. Seller is not aware of the existence of wetlands, shoreland, or flood plain on or affecting the Property except as follows: None. Seller knows of no hazardous substances or petroleum products having been placed, stored, or released from or on the Property by any person in violation of any law, nor of any underground storage tanks having been located on the Property at any time, except as follows: None.
CLOSING: The closing of the sale will be on or before [Closing Date] unless extended pursuant to the terms hereof. Closing may be extended to within 7 days after objections to matters disclosed in the title abstract, certificate, or Commitment, or by the survey, have been cured. The closing date may also be extended by written agreement of the parties.
TITLE AND CONVEYANCE: Seller is to convey title to Buyer by Special Warranty Deed. Seller shall, prior to or at closing, satisfy all outstanding mortgages, deeds of trust, and special liens affecting the Property which are not specifically assumed by Buyer herein. Title shall be good and marketable, subject only to (a) covenants, conditions and restrictions of record, (b) public and private utility easements and roads and rights-of-way, (c) applicable zoning ordinances, protective covenants and prior mineral reservations, (d) special and other assessments on the Property, if any, and (e) general taxes for the current year and subsequent years. A title report shall not be provided to Buyer at closing. Buyer may elect to do their own title search at their own expense. If there are title defects, Seller shall notify Buyer within 5 days of closing, and Buyer, at Buyer’s option, may either (a) cancel this contract if defects cannot be cured by the designated closing date, in which case all earnest money or down payment monies deposited shall be returned, (b) accept title as is, or (c) permit Seller a reasonable time to perform curative work at Seller’s expense if the defects can be remedied by legal action within a reasonable time. If curative work is performed by Seller, the closing date shall be extended for a reasonable period necessary for such action. Seller represents that the Property may be legally used as zoned and that no government agency has served any notice to Seller requiring repairs, alterations, or corrections of any existing condition except as stated herein.
APPRAISAL, SURVEY AND TERMITE INSPECTION: Any appraisal of the Property shall be the responsibility of Buyer. A survey is not required.
POSSESSION AND TITLE: Prior to closing, the Property shall remain in the possession of Seller.
CLOSING COSTS AND EXPENSES: The following closing costs shall be paid as provided, if closed through a title company. There is no cost to Buyer if closing is done directly with Seller.

Closing Cost	Buyer	Seller	Both*
Attorney Fees / Title Company Fees		X
Title Insurance		X
Title Abstract or Certificate		X
Recording Fees		X
Appraisal	X
Survey	X
Transfer Taxes		X
Notary Fees	X	X
All other closing costs			X

*Both means costs are split 50/50 between Buyer and Seller.

PRORATIONS: Taxes for the current year, interest, maintenance fees, assessments, dues, and rents, if any, will be prorated through the Closing Date. If taxes for the current year vary from the amount prorated at closing, the parties shall adjust the prorations when tax statements for the current year are available.
DEFAULT: If Buyer fails to comply with this contract, Buyer will be in default, and Seller may either (a) enforce specific performance and seek other relief provided by law, or both, or (b) terminate this contract and receive the earnest money as liquidated damages, releasing both parties from this contract. If, due to factors beyond Seller’s control, Seller fails within the time allowed to make any non-casualty repairs or deliver evidence of clean title, Buyer may either (a) extend the time for performance up to 15 days, with the Closing Date extended as necessary, or (b) terminate this contract as the sole remedy and receive a refund of the earnest money. If Seller fails to comply with this contract for any other reason, Seller will be in default, and Buyer may either (a) enforce specific performance and seek other relief provided by law, or both, or (b) terminate this contract and receive the earnest money, releasing both parties from this contract.
ATTORNEY’S FEES: The prevailing party in any legal proceeding brought under or with respect to the transaction described in this contract is entitled to recover from the non-prevailing party all costs of such proceeding and reasonable attorney’s fees.
REPRESENTATIONS: Seller represents that, as of the Closing Date, (a) there will be no liens, assessments, or security interests against the Property which will not be satisfied out of the sales proceeds, unless securing payment of any loans assumed by Buyer, and (b) assumed loans will not be in default. If any representation in this contract is untrue on the Closing Date, this contract may be terminated by Buyer, and the earnest money will be refunded to Buyer. All representations in this contract survive closing.
FEDERAL TAX REQUIREMENT: If Seller is a “foreign person,” as defined by applicable law, or if Seller fails to deliver an affidavit that Seller is not a “foreign person,” then Buyer shall withhold from the sales proceeds an amount sufficient to comply with applicable tax law and deliver the same to the Internal Revenue Service together with appropriate tax forms. IRS regulations require filing written reports if cash in excess of specified amounts is received in the transaction.
AGREEMENT OF PARTIES: This contract contains the entire agreement of the parties and cannot be changed except by their written agreement.
NOTICES: All notices from one party to the other must be in writing and are effective when mailed to, hand-delivered at, or transmitted by facsimile machine to the addresses below. To Buyer at: [Buyer Name], [Buyer Address]; Phone: [Buyer Phone]; Email: [Buyer Email]. To Seller at: Revival Properties, LLC, 10810 N Tatum Blvd, Ste 102-668, Phoenix, AZ 85028; connect@revivalproperties.net; (507) 476-4565.
ASSIGNMENT: This agreement may not be assigned by Buyer without the consent of Seller. This agreement may be assigned by Seller and shall be binding on the heirs and assigns of the parties hereto.
PRIOR AGREEMENTS: This contract incorporates all prior agreements between the parties, contains the entire and final agreement of the parties, and cannot be changed except by their written consent. Neither party has relied upon any statement or representation made by the other party or any sales representative bringing the parties together. Neither party shall be bound by any terms, conditions, oral statements, warranties, or representations not contained herein. Each party acknowledges that they have read and understand this contract. The provisions of this contract bind the heirs, executors, administrators, successors, and assigns of the respective parties. The singular includes the plural and the masculine includes the feminine as the context may require.
NO BROKER OR AGENTS: The parties represent that neither party has employed the services of a real estate broker or agent in connection with the Property, or if such an agent has been employed, that the party employing said agent shall pay all expenses related to that agent outside of closing.
EMINENT DOMAIN: If the Property is condemned by eminent domain after the effective date hereof, Seller and Buyer shall agree to continue the closing, or a portion thereof, or cancel this contract. If the parties cannot agree, this contract shall remain valid, with Buyer entitled to cancel and receive a return of the down payment money.
RECORDING: This agreement may be recorded in the official records of [Recording County], [Recording State].
OTHER PROVISIONS: TIME IS OF THE ESSENCE IN THE PERFORMANCE OF THIS AGREEMENT. GOVERNING LAW: This contract is governed by the laws of the State of Minnesota. EXECUTED as of [Effective Date] (the “Effective Date”).

Receipt of Down Payment – Cash Purchase

Receipt of [Down Payment Amount] down payment money is acknowledged. Date: [Date].

Part 2: Owner Financing Purchase Terms

This Part applies when Buyer purchases the Property through owner financing with Revival Properties, LLC. Owner financing consists of three documents that work together: the Sale and Purchase Agreement, the Promissory Note, and the Land Contract.

How Owner Financing Works

This section is a plain-language overview only. It is not legal advice, and it does not replace the full terms set out below. Consult your attorney regarding these documents.

The Sale and Purchase Agreement sets out the terms and conditions of sale, including the purchase price, financing terms, receipt of the down payment, and Seller’s written guarantee.

The Promissory Note is Buyer’s promise to pay the monthly payment on time. There are no prepayment penalties. The monthly payment is a floor; Buyer may pay more than the minimum at any time to pay off the note faster. Late or missed payments carry additional fees, as described in the Promissory Note Terms below.

The Land Contract explains that if Buyer does not make payments, and does not cure the default within the periods described below, Seller has the right to take back the Property without going to court. The Property may not be used to dump environmentally hazardous waste.

In short: make the minimum monthly payment on time each month. Failure to do so allows Seller to take back the Property after the grace and cure periods described below. If Buyer no longer wants the Property, Buyer should contact Seller directly to work out a resolution.

Payment Setup Instructions

Once Seller receives the down payment, the Land Contract, Promissory Note, and Sale and Purchase Agreement are prepared for signature. Buyer should check that all information in the package is correct and contact their sales agent to correct and forward any needed changes.

Buyer completes the package by following the on-screen protocol for electronic signatures and initials, then selects done. Questions about completing the electronic signature forms can be directed to (507) 476-4546.

The first payment is due approximately 30 days from the contract date, by check or ACH. Buyer will receive an email from TerraNotes with a login and temporary password to set up automatic monthly payments:

Step 1: Set up an account using the temporary password.
Step 2: Add payment information.
Step 3: Schedule the payment date.

Once Buyer makes the final payment, Seller will send a Special Warranty Deed for Buyer’s review and approval prior to recording the deed in Buyer’s name on the Property.

Promissory Note Terms

This Promissory Note is made as of [Note Date] by and between [Buyer Name] (“Borrower”) and Revival Properties, LLC, a Minnesota limited liability company with a mailing address of 10810 N Tatum Blvd, Ste 102-668, Phoenix, AZ 85028 (“Lender”).

For value received, Borrower promises to pay the principal amount of [Principal Amount], together with interest on the unpaid principal balance until paid in full. Principal and interest are payable as follows:

Payment: Borrower will pay Lender [Number of Months] months of principal and interest payments in the amount of [Monthly P&I Amount], plus [Note Servicing Fee Amount] per month Note Servicing Fee, plus [Estimated Tax Amount] per month for estimated property taxes and property tax service fee (taxes may be adjusted for increases in annual taxes), for a total payment of [Total Monthly Payment] per month, inclusive of interest, beginning [First Payment Date], with interest calculated on the unpaid principal balance at [Interest Rate]% per annum. This estimated payment assumes all payments are made exactly as scheduled. The actual final payment will cover all remaining principal and accrued interest, together with any other unpaid amounts under this Note. Unless otherwise agreed or required by law, payments are applied first to accrued unpaid interest, then to late charges, then to principal. Borrower will pay Lender through Lender’s payment system, or at such other place as Lender may designate in writing. The term of this Note is [Term in Months] months.
Default Rate: Upon default, including failure to pay at final maturity, Lender may, if permitted by applicable law, increase the interest rate on this Note by five (5) percentage points (“Default Rate”). The Default Rate supersedes the rate set out above, even if the default is later cured.
Prepayment: Borrower may prepay this Note, in whole or in part, with no prepayment penalty.
Late Charge: If a payment is 5 or more calendar days late, Borrower will be charged $25 in addition to the regularly scheduled payment, and in addition to all other sums owed.
Default: Each of the following is an event of default under this Note:

Borrower fails to make any payment when due.
Borrower fails to comply with or perform any other material term, obligation, covenant, or condition in any other agreement between Lender and Borrower, including but not limited to the Sale and Purchase Agreement, this Promissory Note, and the Land Contract.
Borrower defaults under any loan in favor of any other creditor, if the default may materially affect the Property securing this Note.
Any statement made or furnished to Lender by Borrower in connection with this loan was false at the time it was made.

If a default other than a payment default is curable, and Borrower has not received notice of breach of the same provision within the preceding 12 months, it may be cured, and no event of default will have occurred, if Borrower, after written notice from Lender demanding cure, either (1) cures the default within 15 days, or (2) if the cure requires more than 15 days, immediately begins and diligently completes all reasonable steps to cure, not to exceed 30 days for a non-monetary default.

This Note is secured by a Land Contract of the same date between Borrower and Lender. If Borrower defaults in payment, fails to perform any covenant in the Land Contract, becomes insolvent, or makes a general assignment for the benefit of creditors, the unpaid principal balance and accrued interest shall, at the holder’s option, immediately become due and payable, whether or not the stated maturity date has arrived. In the event of any sale, transfer, alienation, or other disposition of the property that is the subject of the Land Contract securing this Note, whether voluntary or involuntary, the entire unpaid principal balance and accrued interest shall similarly become immediately due and payable at the holder’s option.

Borrower agrees to pay all costs, including reasonable attorneys’ fees, incurred in collecting any unpaid amounts. Jurisdiction and venue for enforcing this Note shall be in the state and federal courts located in the maker’s court of choice. Borrower waives presentment for payment, demand, notice, protest, notice of protest, diligence, and non-payment of this Note, and all defenses based on any extension of time for payment given by Lender to Borrower.

Land Contract Terms

This Land Sale Contract is made as of [Contract Date] by and between [Buyer Name] (“Buyer”) and Revival Properties, LLC, a Minnesota limited liability company with a mailing address of 10810 N Tatum Blvd, Ste 102-668, Phoenix, AZ 85028 (“Seller”).

Buyer agrees to buy, and Seller agrees to sell, the tract of land, with such improvements as are located on it, described as follows – APN: [APN]; County: [County]; State: [State]; Legal Description: [Legal Description] – together with all fixtures, landscaping, improvements, and appurtenances (the “Property”). Items that will NOT remain with the Property: N/A.

Buyer warrants that, except as otherwise provided herein, Buyer will have sufficient cash to complete the purchase at the time this agreement is signed and notarized, except for the portion Seller has authorized for payment under the terms of this Land Contract. The Purchase Price to be paid is [Purchase Price]. The terms of this Land Contract are as follows:

a. Seller warrants the Property to be free of all liens, and that taxes are current.
b. Seller warrants the Property will be available to Buyer as of this contract’s effective date.
c. Seller holds the right to limit the amount of timber removed from the Property to only the area needed to place a dwelling or structure, until the total price of the Property, including interest, is paid.
d. Seller will hold the Special Warranty Deed to the Property until it is completely paid, and warrants that the Property title will remain free from any loans, liens, or encumbrances through the payment period.
e. At the time of title transfer, Seller will provide Buyer with a marketable title.
f. Seller will pay the Property taxes each year, and Buyer will reimburse Seller each year. Failure of Buyer to reimburse Seller for all accrued taxes within 60 days of the date due voids this Contract, and the remaining amount owed on the Property becomes due within 30 days.
g. Seller will notify Buyer by email at [Buyer Email] (Buyer must keep a valid email address on file) if Buyer is in default.
h. Seller allows a grace period of 5 days from the due date for the monthly payment. If payment is not received within the grace period, a $25 penalty is assessed.
i. Seller reserves the right to take back possession of the Property if Buyer is in default of the monthly payment by 30 days. Seller will notify Buyer via email or mail of default after the 5-day grace period. Buyer has 30 days from the monthly payment due date to bring payments current and cure the default. If full payment is not received, the Property is considered foreclosed, and Buyer forfeits all interest, fees, and payments made. If Seller and Buyer cannot resolve a dispute and legal action is taken, the losing side is responsible for all costs and legal fees associated with that action.
j. Terms of payment: Purchase price [Purchase Price]. Down payment [Down Payment Amount]. Total amount financed plus interest: [Total Financed Amount].
k. Payments of [Monthly Payment Amount] will be made monthly for a period of [Number of Months] months at an interest rate of [Interest Rate]% simple interest. [Principal & Interest Portion] of each payment is applied to principal and interest, and the balance to the Note Servicing Fee of [Note Servicing Fee Amount] and estimated taxes and property tax service fee of [Estimated Tax Amount].
l. Payments will begin on [First Payment Date] and continue until the principal is paid in full.
m. Payments will be made through ACH, with an optional one-time backup payment by debit/credit card. Debit/credit card payments carry an additional 3.9% service fee. ACH returns or unauthorized returns are charged a $10 fee per instance. The ACH bank account must be a U.S. bank account.
n. There is no prepayment penalty. This Note can be paid off at any time; only interest accrued to the date of payoff will be assessed.
o. Seller will record the Special Warranty Deed in the county of [Recording County], State of [Recording State], within 30 days of payoff.

Seller reserves the right to take back possession of the Property if Buyer is in default under the following conditions:

Buyer shall comply with all county and city zoning ordinances and codes.
Buyer shall NOT live on the land while this contract is in effect.
Buyer shall NOT build on the land, while this contract is in effect, without express written consent from Seller.
Buyer shall NOT dump or leave any garbage on the land.

If these conditions are not followed, Seller will notify Buyer via email or mail of default. Buyer will have 30 days to cure the default. If the default is not fully cured within this period, the Property will be considered foreclosed, and Buyer forfeits all interest, fees, and payments made.

This instrument becomes binding once Buyer signs it. Buyer accepts this offer subject to the terms noted in this Land Contract as a legal and binding contract.

Owner-Financed Sale and Purchase Agreement Terms

NO BROKER – VACANT RESIDENTIAL LAND. WARNING: THIS AGREEMENT HAS SUBSTANTIAL LEGAL CONSEQUENCES AND THE PARTIES ARE ADVISED TO CONSULT LEGAL AND TAX COUNSEL.

This Sale and Purchase Agreement is made as of [Contract Date] by and between [Buyer Name] (“Buyer”) and Revival Properties, LLC, a Minnesota limited liability company with a mailing address of 10810 N Tatum Blvd, Ste 102-668, Phoenix, AZ 85028 (“Seller”). For valuable consideration of Ten Dollars and other good and valuable consideration, receipt and sufficiency of which is acknowledged, the parties covenant, contract, and agree as follows:

Agreement to Sale and Purchase: Seller agrees to sell, and Buyer agrees to buy from Seller, the property described as follows – APN: [APN]; County: [County]; State: [State]; Legal Description: [Legal Description] – together with all fixtures, landscaping, improvements, and appurtenances (the “Property”).
Sales Price: Purchase Price: [Purchase Price]. Down Payment: [Down Payment Amount]. New Loan: [New Loan Amount].
Owner Financing: Seller agrees to finance [Financed Amount] of the purchase price pursuant to a promissory note from Buyer to Seller dated [Note Date], bearing [Interest Rate]% interest per annum, payable over a term of [Number of Months] months with even monthly payments of [Monthly Payment Amount], plus a Note Servicing Fee, plus estimated taxes and property tax service fees of [Estimated Tax Amount], secured by a Land Contract, with the first payment beginning [First Payment Date].
Down Payment Money: Buyer has deposited [Down Payment Amount] as down payment money with Seller. Additionally, Buyer acknowledges a one-time processing fee of [Processing Fee Amount] due at signing.
Property Condition: Buyer represents that they have personally inspected and examined the Property and accepts it in its “as-is” and present condition. This Property is covered by a 90-Day Satisfaction Guarantee as described in the Other Provisions section below.
Utilities: The present condition of all utility access to the Property is accepted by Buyer. Seller is not aware of the existence of wetlands, shoreland, or flood plain on or affecting the Property. Seller knows of no hazardous substances or petroleum products having been placed, stored, or released from or on the Property by any person in violation of any law, nor of any underground storage tanks having been located on the Property at any time.
Closing: The closing of the sale will be on or before [Closing Date] unless extended pursuant to the terms hereof. The closing date may also be extended by written agreement of the parties.
Title and Conveyance: Seller is to convey title to Buyer by Special Warranty Deed upon final payment of the Promissory Note between Buyer and Seller dated [Note Date]. Seller shall satisfy all outstanding mortgages, deeds of trust, and special liens affecting the Property which are not specifically assumed by Buyer. Title shall be good and marketable, subject only to (a) covenants, conditions and restrictions of record, (b) public and private utility easements and roads and rights-of-way, (c) applicable zoning ordinances, protective covenants and prior mineral reservations, (d) special and other assessments on the Property, if any, and (e) general taxes for the current year and subsequent years. A title report shall not be provided to Buyer at closing. Buyer may elect to do their own title search at their own expense. If there are title defects, Seller shall notify Buyer within 5 days of closing, and Buyer, at Buyer’s option, may either (a) cancel this contract if defects cannot be cured by the designated closing date, in which case all earnest money or down payment monies deposited shall be returned, (b) accept title as is, or (c) permit Seller a reasonable time to perform curative work at Seller’s expense if the defects can be remedied by legal action within a reasonable time. If curative work is performed by Seller, the time for title transfer shall be extended for a reasonable period necessary for such action. Seller represents that the Property may be legally used as zoned and that no government agency has served any notice to Seller requiring repairs, alterations, or corrections of any existing condition except as stated herein.
Appraisal, Survey and Termite Inspection: Any appraisal of the Property shall be the responsibility of Buyer. A survey is not required.
Possession and Title: Prior to closing, the Property shall remain in the possession of Seller.
Closing Costs and Expenses: The following closing costs shall be paid as provided, if closed through a title company. There is no cost to Buyer if closing is done directly with Seller.

Closing Cost	Buyer	Seller	Both*
Attorney Fees / Title Company Fees	X
Title Insurance	X
Title Abstract or Certificate	X
Recording Fees		X
Appraisal	X
Survey	X
Transfer Taxes		X
All other closing costs	X

*Both means costs are split 50/50 between Buyer and Seller.

Prorations: Taxes for the current year, interest, maintenance fees, assessments, dues, and rents, if any, will be prorated through the Closing Date. If taxes for the current year vary from the amount prorated at closing, the parties shall adjust the prorations when tax statements for the current year are available.
Default: If Buyer fails to comply with this contract, Buyer will be in default, and Seller may either (a) enforce specific performance and seek other relief provided by law, or both, or (b) terminate this contract and receive the earnest money as liquidated damages, releasing both parties. If, due to factors beyond Seller’s control, Seller fails within the time allowed to make any non-casualty repairs or deliver evidence of clean title, Buyer may either (a) extend the time for performance up to 15 days, with the Closing Date extended as necessary, or (b) terminate this contract as the sole remedy and receive a refund of the earnest money. If Seller fails to comply with this contract for any other reason, Seller will be in default, and Buyer may either (a) enforce specific performance and seek other relief provided by law, or both, or (b) terminate this contract and receive the earnest money, releasing both parties.
Attorney’s Fees: The prevailing party in any legal proceeding brought under or with respect to the transaction described in this contract is entitled to recover from the non-prevailing party all costs of such proceeding and reasonable attorney’s fees.
Representations: Seller represents that, as of the Closing Date, (a) there will be no liens, assessments, or security interests against the Property which will not be satisfied out of the sales proceeds, unless securing payment of any loans assumed by Buyer, and (b) assumed loans will not be in default. If any representation in this contract is untrue on the Closing Date, this contract may be terminated by Buyer, and the earnest money will be refunded to Buyer. All representations in this contract survive closing.
Federal Tax Requirement: If Seller is a “foreign person,” as defined by applicable law, or if Seller fails to deliver an affidavit that Seller is not a “foreign person,” then Buyer shall withhold from the sales proceeds an amount sufficient to comply with applicable tax law and deliver the same to the Internal Revenue Service together with appropriate tax forms. IRS regulations require filing written reports if cash in excess of specified amounts is received in the transaction.
Notices: All notices from one party to the other must be in writing and are effective when mailed or emailed to, hand-delivered at, or transmitted via SignNow or another document-signing platform for acknowledgement. To Buyer at: [Buyer Name], [Buyer Address]; Email: [Buyer Email]. To Seller at: Revival Properties, LLC, ATTN: Cameron Peterson, 10810 N Tatum Blvd, Ste 102-668, Phoenix, AZ 85028; connect@revivalproperties.net.
Agreement of Parties: This contract contains the entire agreement of the parties and cannot be changed except by their written agreement.
Assignment: This agreement may not be assigned by Buyer without the consent of Seller. This agreement may be assigned by Seller and shall be binding on the heirs and assigns of the parties hereto.
Prior Agreements: This contract incorporates all prior agreements between the parties, contains the entire and final agreement of the parties, and cannot be changed except by their written consent. Neither party has relied upon any statement or representation made by the other party or any sales representative bringing the parties together. Neither party shall be bound by any terms, conditions, oral statements, warranties, or representations not contained herein. Each party acknowledges that they have read and understand this contract. The provisions of this contract bind the heirs, executors, administrators, successors, and assigns of the respective parties. The singular includes the plural and the masculine includes the feminine as the context may require.
No Broker or Agents: The parties represent that neither party has employed the services of a real estate broker or agent in connection with the Property, or if such an agent has been employed, that the party employing said agent shall pay all expenses related to that agent outside of closing.
Eminent Domain: If the Property is condemned by eminent domain after the effective date hereof, Seller and Buyer shall agree to continue the closing, or a portion thereof, or cancel this Contract. If the parties cannot agree, this contract shall remain valid, with Buyer entitled to cancel and receive a return of the down payment money.
Recording: This agreement may be recorded in the official records of the county where the Property is located.
Other Provisions – Our Guarantee: Seller will allow an additional inspection period of 90 days from the date of down payment. If, for any reason, Buyer is unsatisfied with the Property during that period, Seller agrees to either exchange the Property or refund all principal monies paid, minus closing costs, payment fees, Note Servicing Fees, document fees, and accounting setup fees. If Buyer is delinquent on payments, the 90-day guarantee is null and void.

TIME IS OF THE ESSENCE IN THE PERFORMANCE OF THIS AGREEMENT. GOVERNING LAW: This contract is governed by the laws of the State of Minnesota. EXECUTED as of [Effective Date] (the “Effective Date”).

Receipt of Down Payment – Owner Financing

Receipt of [Down Payment Amount] down payment money is acknowledged. Date: [Date].

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