EXHIBIT 10.2
Franklin , Indiana April 22, 2005
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PROPOSITION J. Xxxxxx Xxxxx, Seller
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Mutual Savings Bank, Purchaser
The undersigned, hereinafter called purchaser, having inspected the
premises and relying entirely for its condition upon his own examination hereby
agrees to purchase from the owner through you as his broker the property known
as 00 Xxxx Xxxxxxxxx Xxxxxx located in the City of Franklin County of Xxxxxxx
State of Indiana. Purchaser hereby further agrees to pay for said property the
sum of Two Hundred Fifteen Thousand and no/100 ($215,000.00) Dollars upon the
following terms and or conditions, viz:
- inspection of real estate (mechanical, electrical, plumbing, roof,
etc.) at purchasers expense
- a satisfactory review by purchaser's architect that ground level floor
is consistent with that of purchaser's adjacent property
- satisfaction by purchaser that no environmental issues exist at
subject property
- all internal furnishings: (furniture and pictures) remain the property
of the seller and are not included in this transaction
- closing costs to be paid by purchaser
All risk of loss shall be borne by Seller until time of transfer of title
Purchaser to have complete possession 30 days after closing.
Rents, if any, to be prorated to date of closing. Insurance to be (prorated)
(cancelled) at date of closing.
Interest on encumbrances assumed by the buyer to be prorated to date of closing.
Taxes on said real estate shall be handled in accordance with paragraph #2 as
hereinafter set forth:
No. 1 Purchaser will assume and agree to pay all installments of taxes on
said real estate beginning with the installment due and payable in
_______________, 19____, and all installments subsequent thereto.
No. 2 All taxes assessed for any prior calendar year and remaining unpaid,
shall be paid by seller, and all taxes assessed for the current
calendar year shall be prorated between seller and buyer on a
calendar-year basis as of the day immediately prior to the date of
closing this transaction. If the tax rate for taxes assessed in the
current year has not been determined at the closing of the
transaction, said rate to be assumed to be the same as the prior year
for the purpose of such proration.
Purchaser will assume and agree to pay all assessments for municipal
improvements which are completed after date of this Proposition.
Purchaser shall be furnished, at seller's expense a complete and merchantable
abstract of title to date as quickly as the same can be prepared, said abstract
to show a merchantable or insurable title to said real estate in the name of the
grantors who will execute a general warranty deed conveying said real estate in
the same condition as it now is, ordinary wear and tear excepted, free and clear
of all liens and encumbrances except as stated herein and subject to
restrictions and easements of record, if any. If said abstract fails to show a
merchantable title, or if there is no abstract of title to said real estate,
then in either of those events purchaser shall be furnished, at seller's
expense, an owner's policy of title insurance. Provided, however, that in the
event this proposition provides for a conditional sale of said real estate,
seller will execute to buyer a conditional sales contract upon standard form.
All other terms of this paragraph to remain the same.
This transaction is to be closed within 30 days after said abstract showing
merchantable title or binder for title insurance is delivered.
This offer is void, if not accepted in writing on or before 12:00 o'clock noon
of _________ day of ___________________, 19___.
The above sales price includes all improvements, permanently installed, such as
electrical or gas fixtures, heating equipment, hot water heaters, incinerators,
window shades, curtain and drapery poles and fixtures, Venetian blinds, storm
doors and windows, linoleum, screens, awnings and TV antennas, and all other
personal property except as shown above which belong to the above property and
are now on the premises or elsewhere. All said items are now or will be at the
date of closing fully paid for by seller.
Purchaser deposits herewith One Thousand and no/100 Dollars ($1,000.00) as
xxxxxxx money to apply upon the cash payment provided herein with the
understanding that said deposit shall be returned to purchaser promptly in the
event this Proposition is not accepted. In the event this Proposition is
accepted, and purchaser shall, without legal cause, fail or refuse to complete
the purchase of said real estate in accordance with the terms and conditions
hereof, said xxxxxxx money deposit shall be forfeited by the undersigned as and
for liquidated damages for purchaser's failure so to perform.
It is expressly agreed that all terms and conditions are included herein and no
verbal agreements of any kind shall be binding or recognized.
Mutual Savings Bank
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By: /s/ Xxxxxx X. Xxxxxxx
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Xxxxxx X. Xxxxxxx, President Purchaser.
$______________________, Indiana _______________, 19____ RECEIVED OF
_______________________________ Xxxxxxx Money in the sum of
_______________________________($________________ ) Dollars to be applied,
refunded or forfeited, as provided in Proposition submitted herewith for the
purchase of real estate located: _______________________________________ ,
__________________________ R.E. Broker
By:
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As the owner of the property described herein ______ hereby accept this
proposition this _____ day of ____________, 19___
and ___________________ agree to pay to ________________________________________
Real Estate Broker the sum of ___________________________________________
($______________) Dollars commission for services rendered in this transaction.
/s/ J. Xxxxxx Xxxxx
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J. Xxxxxx Xxxxx
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PROPOSITION
BETWEEN
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AND
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PROPERTY
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Date __________________ 19___
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LEGAL FORMS BY
STATIONERS
INCORPORATED
00 X. XXXXXXXXXXXX XX.
XXXXXXXXXXXX
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