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STANDARD FORM REAL ESTATE CONTRACT
NOTICE: THIS CONTRACT CONSTITUTES A LEGALLY BINDING CONTRACT FOR THE PURCHASE AND SALE OF
RESIDENTIAL PROPERTY. IF YOU DO NOT UNDERSTAND OR AGREE WITH ANY OF THE TERMS OR CONDITIONS SET
FORTH IN THIS CONTRACT, YOU SHOULD CONSULT WITH A LICENSED ATTORNEY OF YOUR CHOICE PRIOR TO SIGNING
THIS DOCUMENT. NO PROVISIONS OF THIS CONTRACT ARE FIXED BY LAW AND ALL TERMS AND CONDITIONS ARE
SUBJECT TO NEGOTIATION PRIOR TO EXECUTION.
THIS AGREEMENT for the purchase and sale of the real property described below (the “Property”), is upon the following terms and
conditions:
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1. Seller(s):
Address:
2. Buyer(s):
Address:
3.Real Property Address:
4.Personal Property, if any, to be included:
To be excluded:
6. Mortgage Financing Contingency: (NOT APPLICABLE UNLESS FILLED IN)
Third Party Mortgage Purchase Money Mortgage
(a) Mortgage Loan Amount at Prevailing Interest Rate: $
(b) Term of Mortgage: (Years)
(c) Written Loan Commitment to be obtained by
Month/Day/Year
Iflledin,Paragraph23isautomaticallymadeapartofthisContract.
7. Closing Date:
atSellersattorney’sofce,oratMortgageLendersofcein County, if required.
Month/Day/Year
8. Attorneys’ Review. This Contract is subject to review by the attorneys representing the Buyer and Seller. Based upon his/her attorney’s review,
eitherpartymaycancelthiscontractbywrittennoticetotheotherpartygivennotlaterthanve(5)businessdaysaftersuchpartyreceivesafully
executed counterpart of this Contract. Upon cancellation, the Deposit shall be returned to the Buyer.
5.PurchasePrice
Payable as Follows:
(a) By Initial Deposit paid upon execution of this Contract (a) $
(b) By Additional Deposit to be paid on or before (b) $
(c) By proceeds of a Bank, Institutional or Purchase Money Mortgage Loan (c) $
which proceeds shall be immediately available to Seller at a local bank
(d) Balancetobedeliveredatclosingincash,certiedcheckorofcialbankcheck (d) $
the proceeds of which shall be immediately available to Seller at a local bank
TOTAL PURCHASE PRICE $
Sum of (a) + (b) + (c) + (d)
Buyer Initials Seller Initials
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10. Residential Condition Report: Buyer acknowledges receipt of Sellers Residential Condition Report (copy attached). Seller shall credit Buyer
atclosingwith$500.00,ifSellerfailstofurnishawrittenResidentialConditionReportasrequiredbySections20-327b-e,oftheConnecticut
General Statutes, inclusive. Buyers Initials
11. Lead Disclosure: Buyer acknowledges receipt of a Lead Information Booklet and Disclosure and Acknowledgement Form re: Lead Based
Paint as required by Federal EPA HUD Disclosure Regulations (copy attached). Buyers Initials
“STATEMENTRE:LEADBASEDPAINT.Thepartiesacknowledgethatdwellingunitsconstructedpriorto1978arelikelytocontainlead-based
paint which could create a health hazard. In the event the Property which is the subject of this Agreement consists of or contains a residential unit
built before 1978, the parties agree that a precondition to the validity of this Agreement is that each party has received, reviewed, signed and
annexedheretoacompletedDisclosureandAcknowledgmentFormre:Lead-BasedPaintasrequiredbyfederalEPA/HUDdisclosure
regulations.”
12. Possession and Occupancy, Acceptance of Deed: The Buyer shall have exclusive possession and occupancy of the Property in a broom
clean condition on the Closing Date. Delivery and acceptance of the Deed shall constitute full compliance by the Seller with the terms of this
ContractexceptforanywarrantiescontainedintheDeedandotherobligationsspecicallysetforthinthisContracttobeperformedafterthe
delivery of the Deed or which survive delivery of the Deed.
13. Additional Paragraphs: Unless crossed out, the following Paragraphs 16 through 29 are hereby made a part of this Contract.
14. Additional Terms and/or seller concessions):
15. RidersAttached:
16. Warranty Deed, Marketable Title: (a) Seller shall convey to Buyer good and marketable fee simple title to the Property by Connecticut form
WarrantyDeed,(orFiduciaryDeedifSellerisaduciary)(the“Deed”),freeandclearofallencumbrancesexceptthefollowingpermitted
encumbrances, so long as the permitted encumbrances do not prohibit the residential use of the Property or otherwise render title to the
Property unmarketable (i) any and all provisions of any ordinance, municipal regulation or public or private law; (ii) restrictive covenants and
easements of record; (iii) any facts which an accurate survey or physical inspection of the Property would reveal; (iv) taxes and municipal
assessments due and payable after the Closing. (b) If the Seller is unable to convey title conforming to the requirements of (a) above, then the
Seller shall be allowed to postpone the Closing for up to the earlier of thirty days or the expiration date of the Buyers mortgage loan
commitment (“Postponement Period”) within which to cure the title defects.If, at the expiration of the Postponement Period, the Seller is still
unable to convey title conforming to (a) above, Buyer may, by written notice to the Seller, reject such defective title, whereupon the Seller shall
remittotheBuyertheDeposittogetherwithanyexpensesincurredbyBuyerfortitleexamination(nottoexceed$250)andthisContractshall
be terminated. The marketability of title shall be determined in accordance with the Standards of Title of the Connecticut Bar Association. (c) The
Property shall be conveyed free of any violations of any governmental rules, regulations or limitations or private restrictive covenants or ease-
ments. In the event Seller cannot deliver the Property to the Buyer at Closing, free of violations as aforesaid, Buyer may, by written notice, by
certiedmail,facsimileorhanddeliverytotheSeller,orSellersAttorney,terminatethisContractbecauseofsuchviolations,whereuponSeller
shallreturntotheBuyertheDeposittogetherwithanyexpensesincurredbytheBuyerfortitleexamination(nottoexceed$250.00).
17. ConditionofPremises:(a)TheBuyerrepresentsthathehasinspectedtheProperty,issatisedwiththephysicalconditionthereofand
agrees to accept the Property in its present condition, “as is”, subject to reasonable wear and tear to the Closing Date. The Buyer represents that
neither Seller nor any representative of the Seller has made any representation or warranty as to the Property on which Buyer has relied in
entering into this Contract except as expressly set forth in this Contract. The Seller agrees to deliver the Property to the Buyer on the Closing
Date in substantially the same condition as exists on the date of this Contract, reasonable wear and tear excepted, and the Buyer agrees to
accept the Property in such condition subject to satisfaction of the Inspection Contingency; (b) The grounds shall be maintained by the Seller until
the Closing Date including lawn mowing, leaf raking and snow and ice removal from walks and driveways; (c) Seller shall remove all
YES WAIVED YES WAIVED YES WAIVED
Building/Mechanical   Water   Oil Tank  
Termite/Other Insects   Well/Organic Chemicals   Lead  
Septic  
Radon-Air/Water   Asbestos  
Title Search  
If filled in, Paragraph 24 is Automatically made a part of this Contract.
9. Inspection Contingency:The inspections checked below shall be completed not later than:(“Inspection Completion Date”)
. The “Title Search Completion Date” shall be no later than ten (10) business days after the “Inspection Completion Date.”
Buyer Initials Seller Initials
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personal property not included in the sale and shall deliver to the Buyer all keys available to the Seller; (d) The Buyer shall have the right to
inspectthePropertypriortotheClosingatatimemutuallyagreedupontoconrmthattheconditionofthePropertyconformstothe
requirements of this Contract.
18. RiskofLoss,Damage:TheriskoflossordamagebyreorothercasualtytothePropertyuntiltheClosingDateisassumedbytheSeller.In
the event of loss or damage occurring prior to the delivery of the Deed, Seller shall repair and restore the Property prior to the Closing Date, or,
may delay the closing at his option for up to the earlier of thirty (30) days from the date of such loss or damage or the date Buyers mortgage loan
commitment expires (“Delay Period”) in order to complete restoration or repairs. If at the expiration of the Delay Period the Seller has failed to
repair or restore the Property to its condition prior to the loss or damage, the Buyer shall have the option of: (a) Terminating this Contract, in
whicheventtheDeposittogetherwithanyamountsactuallyexpendedbytheBuyerfortheexaminationoftitle(nottoexceed$250.00)shallbe
remitted to the Buyer and thereupon the parties shall have no further rights and obligations under this Contract; or (b) Closing title by accepting
theDeedconveyingthePropertyinaccordancewithalloftheotherprovisionsofthisContractandreceivingthebenetofanyinsurancepolicies
or funds paid or recoverable on account of such loss or damage, less any sums actually expended by the Seller for restoration or repairs. The
Seller shall not be responsible for loss or damage to trees or other plantings due to natural causes provided such loss or damages does not
exceed$250.
19. EscrowofDeposit:TheInitialDepositandAdditionalDeposit(collectivelythe“Deposit”)shallbepaidnotlaterthanthedate(s)speciedin
Paragraph5.Sellersattorney,asescrowagent,shallholdtheDepositinanon-interestbearingaccountuntilClosingorpriorterminationofthis
Contract. The Deposit shall be paid to the Seller at Closing. In the event of termination prior to Closing, the escrow agent shall (a) retain the
Deposit in escrow until directed to disburse the Deposit by mutual agreement of the parties or by court order; or (b) commence an interpleader
action and pay the Deposit into court whereupon the escrow agent shall be relieved of all further obligation. In the event that the Additional
Depositisnotpaidwhendue,SellermaygivewrittennoticeofsuchfailuretoBuyerbycertiedmail,facsimileorhanddeliveryandifsuch
AdditionalDepositisnotpaidwithinve(5)daysthereafter,thisContractshallbedeemedterminatedforBuyersdefaultandtheInitialDeposit
shall be delivered to and retained by the Seller as liquidated damages, and thereupon, the parties shall be relieved of all further liability
hereunderexceptasotherwisespecicallysetforthherein.Theescrowagentshallnotbeliableforanyerrorofjudgment,orforanyact
performed or omitted in good faith, or for any mistake of law.
20. Default, Liquidated Damages: If Buyer defaults under this Contract after the Deposit has been paid, the Deposit shall be remitted to and
retained by Seller as liquidated damages, and thereupon, the parties shall be relieved of all further liability under this Contract except as other-
wisespecicallysetforthherein.IntheeventthatlegalactioniscommencedtoenforceanyprovisionofthisContract,theprevailingpartyshall
be entitled to reimbursement of court costs and attorneys fees incurred therein.
21. Adjustments at Closing: Property taxes, utilities, municipal assessments and use charges, rents, district taxes, association charges, and other
charges customarily adjusted at closings in accordance with the custom of the Bar Association for the town wherein the Property is located, will
be prorated as of the Closing Date. The Buyer shall reimburse the Seller at Closing for any fuel stored on the Property. Property taxes will be
adjustedonauniformscalyearbasis.InstallmentspayableonsewerandothermunicipallienassessmentsaftertheClosingwillbeassumed
bytheBuyer.SellershalldelivertoBuyeratclosingcheckssufcienttosatisfystateandlocalconveyancetaxes.
22. Personal Property: Unless excluded in Paragraph 4, the Personal Property included in the sale shall consist of the following: screens, storm
windows,TVantenna,venetianblinds,curtainrodsandxtures,walltowallcarpeting,awnings,shades,automatichotwaterheater,plumbing,
heatingandlightingandelectricalxtures(exceptportableheaters,rentedwaterheatersandlamps),shrubbery,plantsandallotherxturesnow
located on the Property and the personal property listed in Paragraph 4.
23. Mortgage Financing Contingency: Third Party Mortgage. The Buyer’s obligations hereunder are contingent upon Buyer obtaining a written
commitmentfromabankorinstitutionallenderforamortgageloansatisfyingthespecicationssetforthinParagraph6(a),(b)and(c)andupon
suchothertermsandconditionsasarestandardforsimilarloancommitments.Buyeragreestoapplyforsuchnancingimmediatelyandto
pursuesuchapplicationwithdiligence.IfBuyerisunabletosecuresuchacommitmentbythedatesetforthinParagraph6(c),andsonoties
theSellerortheSellersAttorneyinwriting,bycertiedmail,facsimileorhanddelivery,onorbeforesuchdate,thisContractshallbeterminated
bysuchnoticeandtheDepositshallbereturnedtoBuyer.AbsentsuchNotice,thiscontingencyshallbedeemedsatisedandthisContractshall
continue in full force and effect.
Purchase Money Mortgage. A Purchase Money Note and a Purchase Money Mortgage as
described on the attached Rider shall be executed and delivered by the Buyer to the Seller at Closing.
24. Inspection Contingency: Buyer acting by representatives of Buyers choice shall complete the inspections, tests, assessments and title
search of the Property as designated in Paragraph 9 prior to the “Inspection Completion Date” or the “Title Search Completion Date”, as the case
maybe.If,baseduponsuchinspections,tests,assessmentsandtitlesearch,Buyerisnotreasonablysatisedwiththetitleorphysicalcondition
ofthePropertyandsonotiestheSellerortheSellersAttorneyinwriting,bycertiedmail,facsimileorhanddelivery,notlaterthantwobusiness
days after the “Inspection Completion Date,” or the “Title Search Completion Date,” as the case may be, this Contract shall be deemed
terminated by such Notice and the Deposit shall be returned to the Buyer. Absent timely notice hereunder, terminating this Contract, this contin-
gencyshallbedeemedsatisedandthisContractshallcontinueinfullforceandeffect.
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29.Sellers Agent:
Name Telephone
License Number:
Agent’s Firm:
Address:
Sellers Attorney
Name Telephone
Attorney’s Email:
Address:
Buyers Agent:
Name Telephone
License Number:
Agent’s Firm:
Address:
Buyers Attorney
Name Telephone
Attorney’s Email:
Address:
Check box only if Listing Agent is acting as a Dual Agent Selling Agent is Buyers Agent AuthorizedSub-Agent
Buyer and Seller represent that no other Agent or Broker was the procuring cause of the transaction contemplated by this Contract.
Buyer’s Signature Date Buyer’s Signature Date
Seller’s Signature Date Seller’s Signature Date
25. TitleInsuranceAfdavit:SelleragreestoexecuteanddelivertotheBuyerattheClosingofTitleanafdavitacceptabletotheBuyer’stitle
insurerconrmingthenon-existenceof(i)mechanics’ormaterialmen’sliens,(ii)tenants’rightsinortotheProperty,(iii)securityinterestsin
personalpropertyorxturesincludedinthesale,and(iv)conrminginformationrequiredtoprovidetheBuyersmortgagelenderwithsurvey
coverage, including updating an existing survey, if any.
26. Condominium/Common Interest Community: If the Property is in a Condominium or Common Interest Community, Seller shall deliver to the
BuyeraResaleCerticateandotherdocumentsasrequiredbySection47-270oftheConnecticutGeneralStatutes.
27. Buyers Lien: The Deposit and Buyers reasonable expenses actually incurred for title examination to the Property are hereby made liens on
the
Property, but such liens shall not continue after a default by the Buyer.
28. Entire Agreement; Binding Effect: This Contract contains the entire agreement of the parties and there are no representations, inducements
or other provisions other than those set forth herein. All changes, additions or deletions to this Contract must be in writing and signed by all par-
ties.ThisContractisnon-assignableandshallbebindinguponandinuretothebenetoftheparties,theirheirs,successorsandassigns.
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