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OFFER TO PURCHASE AND CONTRACT
[Consult "Guidelines" (Form 2G) for guidance in completing this form]
For valuable consideration, the receipt and legal sufficiency of which are hereby acknowledged, Buyer offers to purchase and Seller
upon acceptance agrees to sell and convey the Property on the terms and conditions of this Offer To Purchase and Contract and any
addendum or modification made in accordance with its terms (together the "Contract").
1.
TERMS AND DEFINITIONS: The terms listed below shall have the respective meaning given them as set forth adjacent to
each term.
(a)
"Seller":
(b)
"Buyer":
(c)
"Property": The Property shall include all that real estate described below together with all appurtenances thereto including
the improvements located thereon and the fixtures and personal property listed in Paragraphs 2 and 3 below.
NOTE:
If the Property will include a manufactured (mobile) home(s), Buyer and Seller should consider including the
Manufactured (Mobile) Home provision in the Additional Provisions Addendum (Standard Form 2A11-T) with this offer.
Street Address:
City: Zip:
County: , North Carolina
NOTE:
Governmental authority over taxes, zoning, school districts, utilities and mail delivery may differ from address shown.
Legal Description: (Complete ALL applicable)
Plat Reference: Lot/Unit , Block/Section , Subdivision/Condominium
, as shown on Plat Book/Slide at Page(s)
The PIN/PID or other identification number of the Property is:
Other description:
Some or all of the Property may be described in Deed Book at Page
(d)
"Purchase Price":
$
$
$
$
$
$
$
$
paid in U.S. Dollars upon the following terms:
BY DUE DILIGENCE FEE made payable and delivered to Seller by the Effective Date.
BY INITIAL EARNEST MONEY DEPOSIT made payable and delivered to Escrow Agent
named in Paragraph 1(f) by cash personal check official bank check wire
transfer, electronic transfer, EITHER with this offer OR within five (5) days of the
Effective Date of this Contract.
BY (ADDITIONAL) EARNEST MONEY DEPOSIT made payable and delivered to Escrow
Agent named in Paragraph 1(f) by cash, official bank check, wire transfer or electronic
transfer no later than 5 p.m. on ,
TIME BEING OF THE ESSENCE.
BY ASSUMPTION of the unpaid principal balance and all obligations of Seller on the
existing loan(s) secured by a deed of trust on the Property in accordance with the attached
Loan Assumption Addendum (Standard Form 2A6-T).
BY SELLER FINANCING in accordance with the attached Seller Financing Addendum
(Standard Form 2A5-T).
BY BUILDING DEPOSIT in accordance with the attached New Construction Addendum
(Standard Form 2A3-T).
BALANCE of the Purchase Price in cash at Settlement (some or all of which may be paid
with the proceeds of a new loan).
Should Buyer fail to deliver either the Due Diligence Fee or any Initial Earnest Money Deposit by their due dates, or should any check or
other funds paid by Buyer be dishonored, for any reason, by the institution upon which the payment is drawn, Buyer shall have one (1)
banking day after written notice to deliver cash, official bank check, wire transfer or electronic transfer to the payee. In the event Buyer
does not timely deliver the required funds, Seller shall have the right to terminate this Contract upon written notice to Buyer.
Page 1 of 14
This form jointly approved by: STANDARD FORM 2-T
North Carolina Bar Association Revised 7/2019
North Carolina Association of REALTORS®, Inc. © 7/2019
Buyer's initials ______ _______ Seller's initials ______ ______
Produced with zipForm® by zipLogix 18070 Fifteen Mile Road, Fraser, Michigan 48026 www.zipLogix.com
(e) "Earnest Money Deposit": The Initial Earnest Money Deposit, the Additional Earnest Money Deposit and any other earnest
monies paid or required to be paid in connection with this transaction, collectively the “Earnest Money Deposit”, shall be
deposited and held in escrow by Escrow Agent until Closing, at which time it will be credited to Buyer, or until this Contract is
otherwise terminated. In the event: (1) this offer is not accepted; or (2) a condition of any resulting contract is not satisfied, then
the Earnest Money Deposit shall be refunded to Buyer. In the event of breach of this Contract by Seller, the Earnest Money
Deposit shall be refunded to Buyer upon Buyer's request, but such return shall not affect any other remedies available to Buyer
for such breach. In the event of breach of this Contract by Buyer, the Earnest Money Deposit shall be paid to Seller. The payment
of the Earnest Money Deposit to Seller and the retention of any Due Diligence Fee by Seller (without regard to their respective
amounts, including zero) together shall serve as liquidated damages (“Liquidated Damages”) and as Seller's sole and exclusive
remedy for such breach, but without limiting Seller's rights under Paragraphs 4(d) and 4(e) for damage to the Property. It is
acknowledged by the parties that the amount of the Liquidated Damages is compensatory and not punitive, such amount being a
reasonable estimation of the actual loss that Seller would incur as a result of a breach of this Contract by Buyer. The payment to
Seller and/or retention by Seller of the Liquidated Damages shall not constitute a penalty or forfeiture but actual compensation for
Seller's anticipated loss, both parties acknowledging the difficulty determining Seller's actual damages for such breach. If legal
proceedings are brought by Buyer or Seller against the other to recover the Earnest Money Deposit, the prevailing party in the
proceeding shall be entitled to recover from the non-prevailing party reasonable attorney fees and court costs incurred in
connection with the proceeding.
(f) "Escrow Agent" (insert name):
NOTE:
In the event of a dispute between Seller and Buyer over the disposition of the Earnest Money Deposit held in escrow, a
licensed real estate broker (“Broker”) is required by state law (and Escrow Agent, if not a Broker, hereby agrees) to retain the
Earnest Money Deposit in the Escrow Agent's trust or escrow account until Escrow Agent has obtained a written release from the
parties consenting to its disposition or until disbursement is ordered by a court of competent jurisdiction. Alternatively, if a Broker or
an attorney licensed to practice law in North Carolina ("Attorney") is holding the Earnest Money Deposit, the Broker or Attorney
may deposit the disputed monies with the appropriate clerk of court in accordance with the provisions of N.C.G.S. §93A-12.
THE PARTIES AGREE THAT A REAL ESTATE BROKERAGE FIRM ACTING AS ESCROW AGENT MAY PLACE THE
EARNEST MONEY DEPOSIT IN AN INTEREST BEARING TRUST ACCOUNT AND THAT ANY INTEREST EARNED
THEREON SHALL BE DISBURSED TO THE ESCROW AGENT MONTHLY IN CONSIDERATION OF THE EXPENSES
INCURRED BY MAINTAINING SUCH ACCOUNT AND RECORDS ASSOCIATED THEREWITH.
(g)
"Effective Date": The date that: (1) the last one of Buyer and Seller has signed or initialed this offer or the final
counteroffer, if any, and (2) such signing or initialing is communicated to the party making the offer or counteroffer, as the case
may be. The parties acknowledge and agree that the initials lines at the bottom of each page of this Contract are merely evidence
of their having reviewed the terms of each page, and that the complete execution of such initials lines shall not be a condition of
the effectiveness of this Agreement.
(h)
"Due Diligence": Buyer's opportunity to investigate the Property and the transaction contemplated by this Contract,
including but not necessarily limited to the matters described in Paragraph 4 below, to decide whether Buyer, in Buyer's sole
discretion, will proceed with or terminate the transaction.
(i) "Due Diligence Fee": A negotiated amount, if any, paid by Buyer to Seller with this Contract for Buyer's right to terminate
the Contract for any reason or no reason during the Due Diligence Period. It shall be the property of Seller upon the Effective
Date and shall be a credit to Buyer at Closing. The Due Diligence Fee shall be non-refundable except in the event of a material
breach of this Contract by Seller, or if this Contract is terminated under Paragraph 8(n) or as otherwise provided in any addendum
hereto. Buyer and Seller each expressly waive any right that they may have to deny the right to conduct Due Diligence or to assert
any defense as to the enforceability of this Contract based on the absence or alleged insufficiency of any Due Diligence Fee, it
being the intent of the parties to create a legally binding contract for the purchase and sale of the Property without regard to the
existence or amount of any Due Diligence Fee.
(j)
"Due Diligence Period": The period beginning on the Effective Date and extending through 5:00 p.m. on
TIME BEING OF THE ESSENCE.
(k)
"Settlement": The proper execution and delivery to the closing attorney of all documents necessary to complete the
transaction contemplated by this Contract, including the deed, settlement statement, deed of trust and other loan or conveyance
documents, and the closing attorney's receipt of all funds necessary to complete such transaction.
(l) "Settlement Date": The parties agree that Settlement will take place on
(the "Settlement Date"), unless otherwise agreed in writing, at a time and place designated by Buyer.
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STANDARD FORM 2-T
Revised 7/2019
Buyer's initials Seller's initials © 7/2019
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(m) "Closing": The completion of the legal process which results in the transfer of title to the Property from Seller to Buyer,
which includes the following steps: (1) the Settlement (defined above); (2) the completion of a satisfactory title update to the
Property following the Settlement; (3) the closing attorney's receipt of authorization to disburse all necessary funds; and (4)
recordation in the appropriate county registry of the deed(s) and deed(s) of trust, if any, which shall take place as soon as
reasonably possible for the closing attorney after Settlement. Upon Closing, the proceeds of sale shall be disbursed by the closing
attorney in accordance with the settlement statement and the provisions of Chapter 45A of the North Carolina General Statutes. If
the title update should reveal unexpected liens, encumbrances or other title defects, or if the closing attorney is not authorized to
disburse all necessary funds, then the Closing shall be suspended and the Settlement deemed delayed under Paragraph 12 (Delay
in Settlement/Closing).
WARNING: The North Carolina State Bar has determined that the performance of most acts and services required for a closing
constitutes the practice of law and must be performed only by an attorney licensed to practice law in North Carolina. State law
prohibits unlicensed individuals or firms from rendering legal services or advice. Although non-attorney settlement agents may
perform limited services in connection with a closing, they may not perform all the acts and services required to complete a
closing. A closing involves significant legal issues that should be handled by an attorney. Accordingly it is the position of the
North Carolina Bar Association and the North Carolina Association of REALTORS® that all buyers should hire an attorney
licensed in North Carolina to perform a closing.
(n) "Special Assessments": A charge against the Property by a governmental authority in addition to ad valorem taxes and
recurring governmental service fees levied with such taxes, or by an owners' association in addition to any regular assessment
(dues), either of which may be alien against the Property. A Special Assessment may be either proposed or confirmed.
"Proposed Special Assessment": A Special Assessment that is under formal consideration but which has not been approved
prior to Settlement.
“Confirmed Special Assessment”: A Special Assessment that has been approved prior to Settlement whether payable in a lump
sum or future installments.
NOTE:
Any Proposed and Confirmed Special Assessments must be identified by Seller in paragraph 7(c), and Buyer's and
Seller's respective responsibilities for Proposed and Confirmed Special Assessments are addressed in paragraphs 6(a) and 8(k).
2.
FIXTURES AND EXCLUSIONS.
(a) Specified Items: Unless identified in subparagraph (d) below, the following items, including all related equipment and remote
control devices, if any, are deemed fixtures and shall convey, included in the Purchase Price free of liens:
●
Alarm and security systems (attached) for security, fire,
smoke, carbon monoxide or other toxins with all related
access codes, sensors, cameras, dedicated monitors, hard
drives, video recorders, power supplies and cables;
doorbells/chimes
●
All stoves/ranges/ovens; built-in appliances; attached
microwave oven; vent hood
●
Antennas; satellite dishes and receivers
●
Basketball goals and play equipment (permanently attached
or in-ground)
●
Ceiling and wall-attached fans; light fixtures (including
existing bulbs)
●
Fireplace insert; gas logs or starters; attached fireplace
screens; wood or coal stoves
●
Floor coverings (attached)
●
Fuel tank(s) whether attached or buried and including any
contents that have not been used, removed or resold to the
fuel provider as of Settlement. NOTE: Seller's use, removal
or resale of fuel in any fuel tank is subject to Seller's
obligation under Paragraph 8(c) to provide working,
existing utilities through the earlier of Closing or
possession by Buyer.
●
Garage door openers with all controls
●
Generators that are permanently wired
●
Invisible fencing with power supply, controls and receivers
●
Landscape and outdoor trees and plants (except in
moveable containers); raised garden; landscape and
foundation lighting; outdoor sound systems; permanent
irrigation systems and controls; rain barrels; landscape
water features; address markers
●
Mailboxes; mounted package and newspaper receptacles
●
Mirrors attached to walls, ceilings, cabinets or doors; all
bathroom wall mirrors
●
Storage shed; utility building
●
Swimming pool (excluding inflatable); spa; hot tub
●
Solar electric and solar water heating systems
●
Sump-pumps, radon fans and crawl space ventilators; de-
humidifiers that are permanently wired
●
Surface-mounting brackets for television and speakers;
recess-mounted speakers; mounted intercom system
●
Water supply equipment, including filters, conditioning and
softener systems; re-circulating pumps; well pumps and
tanks
●
Window/Door blinds and shades, curtain and drapery rods
and brackets, door and window screens and combination
doors, awnings and storm windows
Page 3 of 14
STANDARD FORM 2-T
Revised 7/2019
Buyer's initials Seller's initials
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0001
(b) Items Leased or Not Owned: Any item which is leased or not owned by Seller, such as fuel tanks, antennas, satellite dishes and
receivers, appliances, and alarm and security systems must be identified here and shall not convey:
(c)
Other Fixtures/Unspecified items: Unless identified in subparagraph (d) below, any other item legally considered a fixture is
included in the Purchase Price free of liens.
(d)
Other Items That Do Not Convey: The following items shall not convey (identify those items to be excluded under
subparagraphs (a) and (c)):
.
Seller shall repair any damage caused by removal of any items excepted above.
3.
PERSONAL PROPERTY: The following personal property shall be transferred to Buyer at no value at Closing:
.
NOTE: Buyer is advised to consult with Buyer's lender to assure that the Personal Property items listed above can be included in this
Contract.
4.
BUYER'S DUE DILIGENCE PROCESS:
WARNING: BUYER IS STRONGLY ENCOURAGED TO CONDUCT DUE DILIGENCE DURING THE DUE
DILIGENCE PERIOD. If Buyer is not satisfied with the results or progress of Buyer's Due Diligence, Buyer should terminate
this Contract, PRIOR TO THE EXPIRATION OF THE DUE DILIGENCE PERIOD, unless Buyer can obtain a written extension
from Seller. SELLER IS NOT OBLIGATED TO GRANT AN EXTENSION. Although Buyer may continue to investigate the
Property following the expiration of the Due Diligence Period, Buyer's failure to deliver a Termination Notice to Seller prior to
the expiration of the Due Diligence Period will constitute a waiver by Buyer of any right to terminate this Contract based on any
matter relating to Buyer's Due Diligence. Provided however, following the Due Diligence Period, Buyer may still exercise a right
to terminate if Seller fails to materially comply with any of Seller's obligations under Paragraph 8 of this Contract or for any other
reason permitted under the terms of this Contract or North Carolina law.
(a) Loan: Buyer, at Buyer's expense, shall be entitled to pursue qualification for and approval of the Loan if any.
NOTE: Buyer's obligation to purchase the Property is not contingent on obtaining a Loan. Therefore, Buyer is advised to consult
with Buyer's lender prior to signing this offer to assure that the Due Diligence Period allows sufficient time for the appraisal to be
completed and for Buyer's lender to provide Buyer sufficient information to decide whether to proceed with or terminate the
transaction.
(b) Property Investigation: Buyer or Buyer's agents or representatives, at Buyer's expense, shall be entitled to conduct all
desired tests, surveys, appraisals, investigations, examinations and inspections of the Property as Buyer deems appropriate,
including but NOT limited to the following:
(i) Inspections: Inspections to determine the condition of any improvements on the Property, the presence of unusual
drainage conditions or evidence of excessive moisture adversely affecting any improvements on the Property, the presence of
asbestos or existing environmental contamination, evidence of wood-destroying insects or damage therefrom, and the
presence and level of radon gas on the Property.
(ii) Review of Documents: Review of the Declaration of Restrictive Covenants, Bylaws, Articles of Incorporation, Rules
and Regulations, and other governing documents of any applicable owners' association and/or subdivision. If the Property is
subject to regulation by an owners' association, it is recommended that Buyer review the completed Residential Property and
Owners' Association Disclosure Statement provided by Seller prior to signing this offer. It is also recommended that the
Buyer determine if the owners' association or its management company charges fees for providing information required by
Buyer's lender or confirming restrictive covenant compliance.
(iii) Insurance: Investigation of the availability and cost of insurance for the Property.
(iv) Appraisals: An appraisal of the Property.
(v) Survey: A survey to determine whether the property is suitable for Buyer's intended use and the location of easements,
setbacks, property boundaries and other issues which may or may not constitute title defects.
(vi) Zoning and Governmental Regulation: Investigation of current or proposed zoning or other governmental regulation
that may affect Buyer's intended use of the Property, adjacent land uses, planned or proposed road construction, and school
attendance zones.
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STANDARD FORM 2-T
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0001
(vii) Flood Hazard: Investigation of potential flood hazards on the Property, and/or any requirement to purchase flood
insurance in order to obtain the Loan.
(viii) Utilities and Access: Availability, quality, and obligations for maintenance of utilities including water, sewer, electric,
gas, communication services, storm water management, and means of access to the Property and amenities.
(ix) Streets/Roads: Investigation of the status of the street/road upon which the Property fronts as well as any other
street/road used to access the Property, including: (1) whether any street(s)/road(s) are public or private, (2) whether any
street(s)/road(s) designated as public are accepted for maintenance by the State of NC or any municipality, or (3) if private or
not accepted for public maintenance, the consequences and responsibility for maintenance and the existence, terms and
funding of any maintenance agreements.
(x) Fuel Tank: Inspections to determine the existence, type and ownership of any fuel tank located on the Property.
NOTE: Buyer is advised to consult with the owner of any leased fuel tank regarding the terms under which Buyer may lease
the tank and obtain fuel.
(c)
Sale/Lease of Existing Property: As noted in paragraph 5(b), unless otherwise provided in an addendum, this Contract is
not conditioned upon the sale/lease or closing of other property owned by Buyer. Therefore, if Buyer must sell or lease other real
property in order to qualify for a new loan or to otherwise complete the purchase of the Property, Buyer should seek to close on
Buyer's other property prior to the end of the Due Diligence Period or be reasonably satisfied that closing on Buyer's other
property will take place prior to the Settlement Date of this Contract.
(d)
Repair/Improvement Negotiations/Agreement: Buyer acknowledges and understands that unless the parties agree
otherwise, THE PROPERTY IS BEING SOLD IN ITS CURRENT CONDITION. Buyer and Seller acknowledge and understand
that they may, but are not required to, engage in negotiations for repairs/improvements to the Property. Buyer is advised to make
any repair/improvement requests in sufficient time to allow repair/improvement negotiations to be concluded prior to the
expiration of the Due Diligence Period. Any agreement that the parties may reach with respect to repairs/improvements shall be
considered an obligation of the parties and is an addition to this Contract and as such, must be in writing and signed by the parties
in accordance with Paragraph 19.
NOTE:
See Paragraph 8(c), Access to Property and Paragraph 8(m), Negotiated Repairs/Improvements.
(e)
Buyer's Obligation to Repair Damage: Buyer shall, at Buyer's expense, promptly repair any damage to the Property
resulting from any activities of Buyer and Buyer's agents and contractors, but Buyer shall not be responsible for any damage
caused by accepted practices either approved by the N.C. Home Inspector Licensure Board or applicable to any other N.C.
licensed professional performing reasonable appraisals, tests, surveys, examinations and inspections of the Property. This repair
obligation shall survive any termination of this Contract.
(f) Indemnity: Buyer will indemnify and hold Seller harmless from all loss, damage, claims, suits or costs, which shall arise out
of any contract, agreement, or injury to any person or property as a result of any activities of Buyer and Buyer's agents and
contractors relating to the Property except for any loss, damage, claim, suit or cost arising out of pre-existing conditions of the
Property and/or out of Seller's negligence or willful acts or omissions. This indemnity shall survive this Contract and any
termination hereof.
(g)
Buyer's Right to Terminate: Buyer shall have the right to terminate this Contract for any reason or no reason, by delivering
to Seller written notice of termination (the "Termination Notice") during the Due Diligence Period (or any agreed-upon written
extension of the Due Diligence Period), TIME BEING OF THE ESSENCE. If Buyer timely delivers the Termination Notice,
this Contract shall be terminated and the Earnest Money Deposit shall be refunded to Buyer.
(h)
CLOSING SHALL CONSTITUTE ACCEPTANCE OF THE PROPERTY IN ITS THEN EXISTING CONDITION
UNLESS PROVISION IS OTHERWISE MADE IN WRITING.
5.
BUYER REPRESENTATIONS:
(a) Loan: Buyer does does not intend to obtain a new loan in order to purchase the Property. If Buyer is obtaining a new
loan, Buyer intends to obtain a loan as follows: FHA VA (attach FHA/VA Financing Addendum) Conventional
Down Payment Assistance Program Other: loan at a Fixed Rate Adjustable Rate in
the principal amount of plus any financed VA Funding Fee or FHA MIP for a term of
year(s), at an initial interest rate not to exceed % per annum (the "Loan").
NOTE:
Buyer's obligations under this Contract are not conditioned upon obtaining or closing any loan. Some mortgage loan
programs and Down Payment Assistance programs selected by Buyer may impose additional repair obligations, conditions or
costs upon Seller or Buyer, and more information may be needed.
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NOTE: If Buyer does not intend to obtain a new loan, Seller is advised, prior to signing this offer, to obtain documentation from
Buyer which demonstrates that Buyer will be able to close on the Property without the necessity of obtaining a new loan.
(b)
Other Property: Buyer
DOES DOES NOT have to sell or lease other real property in order to qualify for a new loan
or to complete the purchase. (Complete the following only if Buyer DOES have to sell or lease other real property:)
Other Property Address:
(Check if applicable) Buyer's other property IS under contract as of the date of this offer, and a copy of the contract has either
been previously provided to Seller or accompanies this offer. (Buyer may mark out any confidential information, such as the
purchase price and the buyer's identity, prior to providing a copy of the contract to Seller.) Failure to provide a copy of the
contract shall not prevent this offer from becoming a binding contract; however, SELLER IS STRONGLY ENCOURAGED TO
OBTAIN AND REVIEW THE CONTRACT ON BUYER'S PROPERTY PRIOR TO ACCEPTING THIS OFFER.
(Check if applicable) Buyer's other property IS NOT under contract as of the date of this offer. Buyer's property (check only
ONE of the following options):
is listed with and actively marketed by a licensed real estate broker.
will be listed with and actively marketed by a licensed real estate broker.
Buyer is attempting to sell/lease the Buyer's Property without the assistance of a licensed real estate broker.
NOTE: This Contract is NOT conditioned upon the sale/lease or closing of Buyer's other property. If the parties agree to make
this Contract conditioned on a sale/lease or closing of Buyer's other property, an appropriate contingency addendum should be
drafted by a North Carolina real estate attorney and added to this Contract.
(c)
Performance of Buyer's Financial Obligations: To the best of Buyer's knowledge, there are no other circumstances or
conditions existing as of the date of this offer that would prohibit Buyer from performing Buyer's financial obligations in
accordance with this Contract, except as may be specifically set forth herein.
(d)
Residential Property and Owners' Association Property Disclosure Statement (check only one):
Buyer has received a signed copy of the N.C. Residential Property and Owners' Association Disclosure Statement prior to the
signing of this offer.
Buyer has NOT received a signed copy of the N.C. Residential Property and Owners' Association Disclosure Statement prior
to the signing of this offer and shall have the right to terminate or withdraw this Contract without penalty (including a refund
of any Due Diligence Fee) prior to WHICHEVER OF THE FOLLOWING EVENTS OCCURS FIRST: (1) the end of the
third calendar day following receipt of the Disclosure Statement; (2)the end of the third calendar day following the Effective
Date; or (3) Settlement or occupancy by Buyer in the case of a sale or exchange.
Exempt from N.C. Residential Property and Owners' Association Disclosure Statement because (SEE GUIDELINES):
.
(e)
Mineral and Oil and Gas Rights Mandatory Disclosure Statement (check only one):
Buyer has received a signed copy of the N.C. Mineral and Oil and Gas Rights Mandatory Disclosure Statement prior to the
signing of this offer.
Buyer has NOT received a signed copy of the N.C. Mineral and Oil and Gas Rights Mandatory Disclosure Statement prior to
the signing of this offer and shall have the right to terminate or withdraw this Contract without penalty (including a refund of
any Due Diligence Fee) prior to WHICHEVER OF THE FOLLOWING EVENTS OCCURS FIRST: (1) the end of the third
calendar day following receipt of the Disclosure Statement; (2) the end of the third calendar day following the Effective
Date; or (3) Settlement or occupancy by Buyer in the case of a sale or exchange.
Exempt from N.C. Mineral and Oil and Gas Rights Mandatory Disclosure Statement because (SEE GUIDELINES):
.
Buyer's receipt of a Mineral and Oil and Gas Rights Mandatory Disclosure Statement does not modify or limit the obligations of
Seller under Paragraph 8(g) of this Contract and shall not constitute the assumption or approval by Buyer of any severance of
mineral and/or oil and gas rights, except as may be assumed or specifically approved by Buyer in writing.
NOTE:
The parties are advised to consult with a NC attorney prior to signing this Contract if severance of mineral and/or oil and
gas rights has occurred or is intended.
6. BUYER OBLIGATIONS:
(a)
Responsibility for Proposed Special Assessments: Buyer shall take title subject to all Proposed Special Assessments.
(b)
Responsibility for Certain Costs: Buyer shall be responsible for all costs with respect to:
(i) any loan obtained by Buyer, including charges by an owners association and/or management company as agent of an
owners' association for providing information required by Buyer's lender;
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0001
(ii) charges required by an owners' association declaration to be paid by Buyer for Buyer's future use and enjoyment of the
Property, including, without limitation, working capital contributions, membership fees, or charges for Buyer's use of the
common elements and/or services provided to Buyer, such as “move-in fees”;
(iii) determining restrictive covenant compliance;
(iv) appraisal;
(v) title search;
(vi) title insurance;
(vii) any fees charged by the closing attorney for the preparation of the Closing Disclosure, Seller Disclosure and any other
settlement statement;
(viii) recording the deed; and
(ix) preparation and recording of all instruments required to secure the balance of the Purchase Price unpaid at Settlement.
(c)
Authorization to Disclose Information: Buyer authorizes the Buyer's lender(s), the parties' real estate agent(s) and closing
attorney: (1) to provide this Contract to any appraiser employed by Buyer or by Buyer's lender(s); and (2) to release and disclose
any buyer's closing disclosure, settlement statement and/or disbursement summary, or any information therein, to the parties to
this transaction, their real estate agent(s) and Buyer's lender(s).
7.
SELLER REPRESENTATIONS:
(a)
Ownership: Seller represents that Seller:
has owned the Property for at least one year.
has owned the Property for less than one year.
does not yet own the Property.
(b) Lead-Based Paint (check if applicable):
The Property is residential and was built prior to 1978 (Attach Lead-Based Paint or Lead-Based Paint Hazards Disclosure
Addendum {Standard Form 2A9-T}).
(c)
Assessments: To the best of Seller's knowledge there
are are not any Proposed Special Assessments. If any Proposed
Special Assessments, identify:
Seller warrants that there are are not any Confirmed Special Assessments. If any Confirmed Special Assessments, identify:
NOTE:
Buyer's and Seller's respective responsibilities for Proposed and Confirmed Special Assessments are addressed in
paragraphs 6(a) and 8(k).
(d)
Owners' Association(s) and Dues: Seller authorizes and directs any owners' association, any management company of the
owners' association, any insurance company and any attorney who has previously represented the Seller to release to Buyer,
Buyer's agents, representative, closing attorney or lender true and accurate copies of the following items affecting the Property,
including any amendments:
●
Seller's statement of account
●
master insurance policy showing the coverage provided and the deductible amount
●
Declaration and Restrictive Covenants
●
Rules and Regulations
●
Articles of Incorporation
●
By laws of the owners' association
●
current financial statement and budget of the owners' association
●
parking restrictions and information
●
architectural guidelines
(specify name of association): whose regular
assessments(“dues”) are $ per . The name, address and telephone number of the president
of the owners' association or the association manager is:
.
Owners' association website address, if any:
(specify name of association): whose regular
assessments (“dues”) are $ per . The name, address and telephone number of the president
of the owners' association or the association manager is:
.
Owners' association website address, if any:
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8. SELLER OBLIGATIONS:
(a)
Evidence of Title, Payoff Statement(s) and Non Foreign Status:
(i) Seller agrees to use best efforts to provide to the closing attorney as soon as reasonably possible after the Effective Date,
copies of all title information in possession of or available to Seller, including but not limited to: title insurance policies,
attorney's opinions on title, surveys, covenants, deeds, notes and deeds of trust, leases, and easements relating to the Property.
(ii) Seller shall provide to the closing attorney all information needed to obtain a written payoff statement from any lender(s)
regarding any security interest in the Property as soon as reasonably possible after the Effective Date, and Seller designates
the closing attorney as Seller's agent with express authority to request and obtain on Seller's behalf payoff statements and/or
short-pay statements from any such lender(s).
(iii) If Seller is not a foreign person as defined by the Foreign Investment in Real Property Tax Act, Seller shall also provide
to the closing attorney a non-foreign status affidavit (pursuant to the Foreign Investment in Real Property Tax Act). In the
event Seller shall not provide a non-foreign status affidavit, Seller acknowledges that there may be withholding as provided
by the Internal Revenue Code.
(b) Authorization to Disclose Information: Seller authorizes: (1) any attorney presently or previously representing Seller to
release and disclose any title insurance policy in such attorney's file to Buyer and both Buyer's and Seller's agents and attorneys;
(2) the Property's title insurer or its agent to release and disclose all materials in the Property's title insurer's (or title insurer's
agent's) file to Buyer and both Buyer's and Seller's agents and attorneys and (3) the closing attorney to release and disclose any
seller's closing disclosure, settlement statement and/or disbursement summary, or any information therein, to the parties to this
transaction, their real estate agent(s) and Buyer's lender(s).
(c)
Access to Property: Seller shall provide reasonable access to the Property through the earlier of Closing or possession by
Buyer, including, but not limited to, allowing Buyer and/or Buyer's agents or representatives, an opportunity to (i) conduct Due
Diligence, (ii)verify the satisfactory completion of negotiated repairs/improvements, and (iii) conduct a final walk-through
inspection of the Property. Seller's obligation includes providing existing utilities operating at Seller's cost, including any
connections and de-winterizing.
NOTE: See WARNING in paragraph 4 above for limitation on Buyer's right to terminate this Contract as a result of Buyer's
continued investigation of the Property following the expiration of the Due Diligence Period.
(d)
Removal of Seller's Property: Seller shall remove, by the date possession is made available to Buyer, all personal property
which is not a part of the purchase and all garbage and debris from the Property.
(e)
Affidavit and Indemnification Agreement: Seller shall furnish at Settlement an affidavit(s) and indemnification
agreement(s) in form satisfactory to Buyer and Buyer's title insurer, if any, executed by Seller and any person or entity who has
performed or furnished labor, services, materials or rental equipment to the Property within 120 days prior to the date of
Settlement and who may be entitled to claim a lien against the Property as described in N.C.G.S. §44A-8 verifying that each such
person or entity has been paid in full and agreeing to indemnify Buyer, Buyer's lender(s) and Buyer's title insurer against all loss
from any cause or claim arising therefrom.
(f)
Designation of Lien Agent, Payment and Satisfaction of Liens: If required by N.C.G.S. §44A-11.1, Seller shall have
designated a Lien Agent, and Seller shall deliver to Buyer as soon as reasonably possible a copy of the appointment of Lien
Agent. All deeds of trust, deferred ad valorem taxes, liens and other charges against the Property, not assumed by Buyer, must be
paid and satisfied by Seller prior to or at Settlement such that cancellation may be promptly obtained following Closing. Seller
shall remain obligated to obtain any such cancellations following Closing.
(g)
Good Title, Legal Access: Seller shall execute and deliver a GENERAL WARRANTY DEED for the Property in recordable
form no later than Settlement, which shall convey fee simple marketable and insurable title, without exception for mechanics'
liens, and free of any other liens, encumbrances or defects, including those which would be revealed by a current and accurate
survey of the Property, except: ad valorem taxes for the current year(prorated through the date of Settlement); utility easements
and unviolated covenants, conditions or restrictions that do not materially affect the value of the Property; and such other liens,
encumbrances or defects as may be assumed or specifically approved by Buyer in writing. The Property must have legal access to
a public right of way.
NOTE:
Buyer's failure to conduct a survey or examine title of the Property, prior to the expiration of the Due Diligence Period
does not relieve the Seller of their obligation to deliver good title under this paragraph.
NOTE: If any sale of the Property may be a “short sale,” consideration should be given to attaching a Short Sale Addendum
Form2A14-T) as an addendum to this Contract.
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(h) Deed, Taxes and Fees: Seller shall pay for preparation of a deed and all other documents necessary to perform Seller's
obligations under this Contract, and for state and county excise taxes, and any deferred, discounted or rollback taxes, and local
conveyance fees required by law. The deed is to be made to:
.
(i) Agreement to Pay Buyer Expenses: Seller shall pay at Settlement $ toward any of Buyer's expenses
associated with the purchase of the Property, at the discretion of Buyer and/or lender, if any, including any FHA/VA lender and
inspection costs that Buyer is not permitted to pay.
NOTE:
Parties should review the FHA/VA Addendum prior to entering an amount in Paragraph 8(i). Certain FHA/VA lender
and inspection costs CANNOT be paid by Buyer at Settlement and the amount of these should be included in the blank above.
(j) Owners' Association Fees/Charges: Seller shall pay: (i) any fees required for confirming Seller's account payment
information on owners' association dues or assessments for payment or proration; (ii) any fees imposed by an owners' association
and/or a management company as agent of the owners' association in connection with the transaction contemplated by this
Contract other than those fees required to be paid by Buyer under paragraph 6(b) above; and (iii) fees incurred by Seller in
completing the Residential Property and Owners' Association Disclosure Statement, and resale or other certificates related to a
proposed sale of the Property.
(k)
Payment of Confirmed Special Assessments: Seller shall pay, in full at Settlement, all Confirmed Special Assessments,
whether payable in a lump sum or future installments, provided that the amount thereof can be reasonably determined or
estimated. The payment of such estimated amount shall be the final payment between the Parties.
(l) Late Listing Penalties: All property tax late listing penalties, if any, shall be paid by Seller.
(m)
Negotiated Repairs/Improvements: Negotiated repairs/improvements shall be made in a good and workmanlike manner
and Buyer shall have the right to verify same prior to Settlement.
(n) Seller's Failure to Comply or Breach: If Seller fails to materially comply with any of Seller's obligations under this
Paragraph 8 or Seller materially breaches this Contract, and Buyer elects to terminate this Contract as a result of such failure or
breach, then the Earnest Money Deposit and the Due Diligence Fee shall be refunded to Buyer and Seller shall reimburse to
Buyer the reasonable costs actually incurred by Buyer in connection with Buyer's Due Diligence without affecting any other
remedies. If legal proceedings are brought by Buyer against Seller to recover the Earnest Money Deposit, the Due Diligence Fee
and/or the reasonable costs actually incurred by Buyer in connection with Buyer's Due Diligence, the prevailing party in the
proceeding shall be entitled to recover from the non-prevailing party reasonable attorney fees and court costs incurred in connection
with the proceeding.
9. PRORATIONS AND ADJUSTMENTS: Unless otherwise provided, the following items shall be prorated, with Seller
responsible for the prorated amounts through the date of Settlement, and either adjusted between the parties or paid at Settlement:
(a)
Taxes on Real Property: Ad valorem taxes and recurring governmental service fees levied with such taxes on real property
shall be prorated on a calendar year basis;
(b)
Taxes on Personal Property: Ad valorem taxes on personal property for the entire year shall be paid by Seller unless the
personal property is conveyed to Buyer, in which case, the personal property taxes shall be prorated on a calendar year basis;
(c) Rents: Rents, if any, fort the Property;
(d)
Dues: Owners' association regular assessments (dues) and other like charges.
10.
HOME WARRANTY: Select one of the following:
No home warranty is to be provided by Seller.
Buyer may obtain a one-year home warranty at a cost not to exceed $ which includes sales tax and
Seller agrees to pay for it at Settlement.
Seller has obtained and will provide a one-year home warranty from
at a cost of $ which includes sales tax and will pay for it at Settlement.
NOTE: Home warranties typically have limitations on and conditions to coverage. Refer specific questions to the home warranty
company.
11.
RISK OF LOSS/CONDITION OF PROPERTY AT CLOSING: The risk of loss or damage by fire or other casualty prior to
Closing shall be upon Seller. Seller is advised not to cancel existing insurance on the Property until after confirming recordation of the
deed.
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Buyer's obligation to complete the transaction contemplated by this Contract shall be contingent upon the Property being in
substantially the same or better condition at Closing as on the date of this offer, reasonable wear and tear excepted. If the Property is
not in substantially the same or better condition at Closing as on the date of this offer, reasonable wear and tear excepted, Buyer may
terminate this Contract by written notice delivered to Seller and the Earnest Money Deposit shall be refunded to Buyer. If the Property
is not in such condition and Buyer does NOT elect to terminate this Contract, Buyer shall be entitled to receive, in addition to the
Property, the proceeds of any insurance claim filed by Seller on account of any damage or destruction to the Property.
12.
DELAY IN SETTLEMENT/CLOSING: Absent agreement to the contrary in this Contract or any subsequent modification
thereto, if a party is unable to complete Settlement by the Settlement Date but intends to complete the transaction and is acting in good
faith and with reasonable diligence to proceed to Settlement ("Delaying Party"), and if the other party is ready, willing and able to
complete Settlement on the Settlement Date ("Non-Delaying Party") then the Delaying Party shall give as much notice as possible to
the Non-Delaying Party and closing attorney and shall be entitled to a delay in Settlement. If the parties fail to complete Settlement
and Closing within fourteen (14) days of the Settlement Date (including any amended Settlement Date agreed to in writing by the
parties) or to otherwise extend the Settlement Date by written agreement, then the Delaying Party shall be in breach and the Non-
Delaying Party may terminate this Contract and shall be entitled to enforce any remedies available to such party under this Contract for
the breach.
13.
POSSESSION: Possession, including all means of access to the Property (keys, codes including security codes, garage door
openers, electronic devices, etc.), shall be delivered upon Closing as defined in Paragraph 1(m) unless otherwise provided below:
A Buyer Possession Before Closing Agreement is attached (Standard Form 2A7-T)
A Seller Possession After Closing Agreement is attached (Standard Form 2A8-T)
Possession is subject to rights of tenant(s)
NOTE:
Consider attaching Additional Provisions Addendum (Form 2A11-T) or Vacation Rental Addendum (Form 2A13-T)
14.
ADDENDA: CHECK ALL STANDARD ADDENDA THAT MAY BE A PART OF THIS CONTRACT, IF ANY, AND
ATTACH HERETO. ITEMIZE ALL OTHER ADDENDA TO THIS CONTRACT, IF ANY, AND ATTACH HERETO.
Additional Provisions Addendum (Form 2A11-T)
Additional Signatures Addendum (Form 3-T)
Back-Up Contract Addendum (Form 2A1-T)
FHA/VA Financing Addendum (Form 2A4-T)
Lead-Based Paint Or Lead-Based Paint Hazard Addendum (Form 2A9-T)
Loan Assumption Addendum (Form 2A6-T)
New Construction Addendum (Form 2A3-T)
Owners' Association Disclosure And Condominium
Resale Statement Addendum (Form 2A12-T)
Seller Financing Addendum (Form 2A5-T)
Short Sale Addendum (Form 2A14-T)
Vacation Rental Addendum (Form 2A13-T)
Identify other attorney or party drafted addenda:
NOTE: UNDER NORTH CAROLINA LAW, REAL ESTATE BROKERS ARE NOT PERMITTED TO DRAFT ADDENDA TO
THIS CONTRACT.
15.
ASSIGNMENTS: This Contract may not be assigned without the written consent of all parties except in connection with a tax-
deferred exchange, but if assigned by agreement, then this Contract shall be binding on the assignee and assignee's heirs and
successors.
16. TAX-DEFERRED EXCHANGE: In the event Buyer or Seller desires to effect a tax-deferred exchange in connection with the
conveyance of the Property, Buyer and Seller agree to cooperate in effecting such exchange; provided, however, that the exchanging
party shall be responsible for all additional costs associated with such exchange, and provided further, that a non-exchanging party
shall not assume any additional liability with respect to such tax-deferred exchange. Buyer and Seller shall execute such additional
documents, including assignment of this Contract in connection therewith, at no cost to the non-exchanging party, as shall be required
to give effect to this provision.
17.
PARTIES: This Contract shall be binding upon and shall inure to the benefit of Buyer and Seller and their respective heirs,
successors and assigns. As used herein, words in the singular include the plural and the masculine includes the feminine and neuter
genders, as appropriate.
18.
SURVIVAL: If any provision herein contained which by its nature and effect is required to be observed, kept or performed after
the Closing, it shall survive the Closing and remain binding upon and for the benefit of the parties hereto until fully observed, kept or
performed.
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19. ENTIRE AGREEMENT: This Contract contains the entire agreement of the parties and there are no representations,
inducements or other provisions other than those expressed herein. All changes, additions or deletions hereto must be in writing and
signed by all parties. Nothing contained herein shall alter any agreement between a REALTOR® or broker and Seller or Buyer as
contained in any listing agreement, buyer agency agreement, or any other agency agreement between them.
20. CONDUCT OF TRANSACTION: The parties agree that any action between them relating to the transaction contemplated by
this Contract may be conducted by electronic means, including the signing of this Contract by one or more of them and any notice or
communication given in connection with this Contract. Any written notice or communication may be transmitted to any mailing
address, e-mail address or fax number set forth in the "Notice Information" section below. Any notice or communication to be given
to a party herein, and any fee, deposit or other payment to be delivered to a party herein, may be given to the party or to such party's
agent. Seller and Buyer agree that the "Notice Information" and "Acknowledgment of Receipt of Monies" sections below shall not
constitute a material part of this Contract, and that the addition or modification of any information therein shall not constitute a
rejection of an offer or the creation of a counteroffer.
21.
EXECUTION: This Contract may be signed in multiple originals or counterparts, all of which together constitute one and the
same instrument.
22.
COMPUTATION OF DAYS/TIME OF DAY: Unless otherwise provided, for purposes of this Contract, the term "days" shall
mean consecutive calendar days, including Saturdays, Sundays, and holidays, whether federal, state, local or religious. For the
purposes of calculating days, the count of "days" shall begin on the day following the day upon which any act or notice as provided in
this Contract was required to be performed or made. Any reference to a date or time of day shall refer to the date and/or time of day in
the State of North Carolina.
[THIS SPACE INTENTIONALLY LEFT BLANK]
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THE NORTH CAROLINA ASSOCIATION OF REALTORS®, INC. AND THE NORTH CAROLINA BAR ASSOCIATION
MAKE NO REPRESENTATION AS TO THE LEGAL VALIDITY OR ADEQUACY OF ANY PROVISION OF THIS FORM IN
ANY SPECIFIC TRANSACTION. IF YOU DO NOT UNDERSTAND THIS FORM OR FEEL THAT IT DOES NOT PROVIDE
FOR YOUR LEGAL NEEDS, YOU SHOULD CONSULT A NORTH CAROLINA REAL ESTATE ATTORNEY BEFORE YOU
SIGN IT.
This offer shall become a binding contract on the Effective Date. Unless specifically provided otherwise, Buyer's failure to timely
deliver any fee, deposit or other payment provided for herein shall not prevent this offer from becoming a binding contract, provided
that any such failure shall give Seller certain rights to terminate the contract as described herein or as otherwise permitted by law.
Date:
Buyer
Date:
Buyer
Entity Buyer:
(Name of LLC/Corporation/Partnership/Trust/etc.)
By:
Name:
Print Name
Title:
Date:
Date:
Seller
Date:
Seller
Entity Seller:
(Name of LLC/Corporation/Partnership/Trust/etc.)
By:
Name:
Print Name
Title:
Date:
WIRE FRAUD WARNING
TO BUYERS: BEFORE SENDING ANY WIRE, YOU SHOULD CALL THE CLOSING ATTORNEY'S OFFICE TO VERIFY THE
INSTRUCTIONS. IF YOU RECEIVE WIRING INSTRUCTIONS FOR A DIFFERENT BANK, BRANCH LOCATION,
ACCOUNT NAME OR ACCOUNT NUMBER, THEY SHOULD BE PRESUMED FRAUDULENT. DO NOT SEND ANY FUNDS
AND CONTACT THE CLOSING ATTORNEY'S OFFICE IMMEDIATELY.
TO SELLERS: IF YOUR PROCEEDS WILL BE WIRED, IT IS RECOMMENDED THAT YOU PROVIDE WIRING
INSTRUCTIONS AT CLOSING IN WRITING IN THE PRESENCE OF THE ATTORNEY. IF YOU ARE UNABLE TO ATTEND
CLOSING, YOU MAY BE REQUIRED TO SEND AN ORIGINAL NOTARIZED DIRECTIVE TO THE CLOSING ATTORNEY'S
OFFICE CONTAINING THE WIRING INSTRUCTIONS. THIS MAY BE SENT WITH THE DEED, LIEN WAIVER AND TAX
FORMS IF THOSE DOCUMENTS ARE BEING PREPARED FOR YOU BY THE CLOSING ATTORNEY. AT A MINIMUM,
YOU SHOULD CALL THE CLOSING ATTORNEY'S OFFICE TO PROVIDE THE WIRE INSTRUCTIONS. THE WIRE
INSTRUCTIONS SHOULD BE VERIFIED OVER THE TELEPHONE VIA A CALL TO YOU INITIATED BY THE CLOSING
ATTORNEY'S OFFICE TO ENSURE THAT THEY ARE NOT FROM A FRAUDULENT SOURCE.
WHETHER YOU ARE A BUYER OR A SELLER, YOU SHOULD CALL THE CLOSING ATTORNEY'S OFFICE AT A
NUMBER THAT IS INDEPENDENTLY OBTAINED. TO ENSURE THAT YOUR CONTACT IS LEGITIMATE, YOU SHOULD
NOT RELY ON A PHONE NUMBER IN AN EMAIL FROM THE CLOSING ATTORNEY'S OFFICE, YOUR REAL ESTATE
AGENT OR ANYONE ELSE.
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NOTICE INFORMATION
NOTE:
INSERT AT LEAST ONE ADDRESS AND/OR ELECTRONIC DELIVERY ADDRESS EACH PARTY AND AGENT
APPROVES FOR THE RECEIPT OF ANY NOTICE CONTEMPLATED BY THIS CONTRACT. INSERT “N/A” FOR ANY
WHICH ARE NOT APPROVED.
BUYER NOTICE ADDRESS:
Mailing Address:
Buyer Fax#:
Buyer E-mail:
SELLER NOTICE ADDRESS:
Mailing Address:
Seller Fax#:
Seller E-mail:
CONFIRMATION OF AGENCY/NOTICE ADDRESSES
Selling Firm Name:
Acting as Buyer's Agent Seller's(sub)Agent Dual Agent
Firm License #:
Mailing Address:
Individual Selling Agent:
Acting as a Designated Dual Agent (check only if applicable)
Selling Agent License #:
Selling Agent Phone#:
Selling Agent Fax#:
Selling Agent E-mail:
Listing Firm Name:
Acting as Seller's Agent Dual Agent
Firm License #:
Mailing Address:
[THIS SPACE INTENTIONALLY LEFT BLANK]
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Individual Listing Agent:
Acting as a Designated Dual Agent (check only if applicable)
Listing Agent License #:
Listing Agent Phone#:
Listing Agent Fax#:
Listing Agent E-mail:
0001
ACKNOWLEDGMENT OF RECEIPT OF MONIES
Seller: ("Seller")
Buyer: ("Buyer")
Property Address: ("Property")
LISTING AGENT ACKNOWLEDGMENT OF RECEIPT OF DUE DILIGENCE FEE
Paragraph 1(d) of the Offer to Purchase and Contract between Buyer and Seller for the sale of the Property provides for the payment
to Seller of a Due Diligence Fee in the amount of $ , receipt of which Listing Agent hereby acknowledges.
Date: Firm:
By:
(Signature)
(Print name)
SELLER ACKNOWLEDGMENT OF RECEIPT OF DUE DILIGENCE FEE
Paragraph 1(d) of the Offer to Purchase and Contract between Buyer and Seller for the sale of the Property provides for the payment
to Seller of a Due Diligence Fee in the amount of $ , receipt of which Seller hereby acknowledges.
Date: Seller:
(Signature)
Date: Seller:
(Signature)
ESCROW AGENT ACKNOWLEDGMENT OF RECEIPT OF INITIAL EARNEST MONEY DEPOSIT
Paragraph 1(d) of the Offer to Purchase and Contract between Buyer and Seller for the sale of the Property provides for the payment
to Escrow Agent of an Initial Earnest Money Deposit in the amount of $ . Escrow Agent as identified in
Paragraph 1(f) of the Offer to Purchase and Contract hereby acknowledges receipt of the Initial Earnest Money Deposit and agrees to
hold and disburse the same in accordance with the terms of the Offer to Purchase and Contract.
Date: Firm:
By:
(Signature)
(Print name)
ESCROW AGENT ACKNOWLEDGMENT OF RECEIPT OF (ADDITIONAL) EARNEST MONEY DEPOSIT
Paragraph 1(d) of the Offer to Purchase and Contract between Buyer and Seller for the sale of the Property provides for the payment
to Escrow Agent of an (Additional) Earnest Money Deposit in the amount of $ . Escrow Agent as identified
in Paragraph 1(f) of the Offer to Purchase and Contract hereby acknowledges receipt of the (Additional) Earnest Money Deposit and
agrees to hold and disburse the same in accordance with the terms of the Offer to Purchase and Contract.
Date: Firm:
Time: A.M. P.M. By:
(Signature)
(Print name)
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STANDARD FORM 2-T
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Produced with zipForm® by zipLogix 18070 Fifteen Mile Road, Fraser, Michigan 48026 www.zipLogix.com
0001
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