6. LEAD-BASED PAINT DISCLOSURE. Purchaser acknowledges receipt of the pamphlet "Protect Your
Family From Lead In Your Home" and Seller's lead-based paint and lead-based paint hazards form
according to the Residential Lead-Base Hazard Reduction Act of 1992. This applies only to properties built
prior to 1978. (initials)_________/___________
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7. TAXES/PRORATIONS. Purchaser is aware that property taxes may or may not be based upon “Owner
Occupied Status”. Any and all Special Assessments are to be paid by Seller unless otherwise specified in
this agreement.
Taxes, rents, road maintenance, water, sewer, and homeowner’s association fees, if any are:
To be prorated to _____________________________
Not to be prorated
Tax proration will be based upon the: previous year’s taxes / agreed upon amount of ___________ /
most current county information / new construction estimate other __________________________
______________________________________________________________________________________
8. TITLE. Merchantable title shall be conveyed by Warranty Deed or other sufficient conveyance instrument,
acceptable to Purchaser, subject to conditions, zoning, restrictions, and easements of record, if any, which
do not interfere with or restrict the existing use of the property. An owner's policy of Title Insurance in the
amount of the purchase price will be furnished with cost to be distributed: Purchaser______ Seller______.
9. SURVEY. Seller ___ is ___ is not providing a boundary survey of the property. Property is sold based on
legal description only. Seller is not aware of any boundary disputes. Seller further states that any fences
located on the property do not necessarily represent the property boundary
10. CLOSING/POSSESSION. Closing date will be on or before ____________________ with possession to
be given Purchaser at time of closing. Seller agrees to maintain the property in a condition comparable to
its present condition and agrees that Purchaser will have the opportunity for a personal inspection prior
to closing. Seller agrees to maintain all existing insurance coverage on property until time of closing.
Closing service fees, if any, cost to be distributed as follows: Purchaser_________ Seller___________.
All personal property, including refuse, not included in the purchase price, shall be removed by Seller prior
to closing.
11. EARNEST MONEY/DEPOSITS. Auctioneer or Auctioneer’s authorized closing agent shall deposit and
hold all earnest money and other deposits until sale is closed. If Auctioneer is holding the earnest money
and an accepted offer and agreement to purchase does not close, regardless of the circumstances, both
Purchaser and Seller must agree in writing prior to release of earnest money or in the alternative, pursuant
to court order in accordance with SDCL 36-21A-81.
12. PERSONAL PROPERTY. Any personal property, free of liens and without warranty of condition, shall
be transferred to Purchaser by a separate bill of sale. Purchaser will / will not compensate Seller for
fuel oil/propane remaining on date of closing.
INITIALS: PURCHASER________/________SELLER________/_________
SDREC.AUCTLIST-B/P – 2010 Page 2 of 3
