REAL ESTATE PURCHASE CONTRACT
This is a legally binding Contract. Utah State Law requires that licensed real
estate agents use this form, but the Buyer and the Seller may legally agree in
writing to alter or delete provisions of this form. If you desire legal or tax
advice, consult your attorney or tax advisor.
▇▇▇▇▇▇▇ MONEY RECEIPT
The Buyer ▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇ offers to purchase the Property described below and
delivers to Brokerage, N/A as ▇▇▇▇▇▇▇ Money Deposit $- 0 - in the form of N/A to
be deposited within three business day after Acceptance of this Offer to
Purchase by all parties.
_________________________________ Received by: _______ ___________________
Brokerage Phone Number
OFFER TO PURCHASE
1. PROPERTY: The New ▇▇▇▇▇▇▇ Building, ▇▇▇▇ ▇▇▇▇ ▇▇▇. #▇▇▇
▇▇▇▇: ▇▇▇▇▇ ▇▇▇▇▇▇: ▇▇▇▇▇ , Utah
1.1 INCLUDED ITEMS: Unless excluded herein, this sale shall include all fixtures
presently attached to the Property: plumbing, heating, air-conditioning and
venting fixtures and equipment, water heater, built-in appliances, light
fixtures and bulbs, bathroom fixtures, curtains and draperies and rods, window
and door screens, storm doors, window blinds, awnings, installed television
antenna, satellite dishes and system, wall-to-wall carpets, automatic garage
door opener and transmitter(s), fencing, trees and shrubs. The following
personal property shall also be included in this sale and conveyed under
separate ▇▇▇▇ of Sale with warranties as to title: N/A
1.2 EXCLUDED ITEMS: These items are excluded from this sale:
2. PURCHASE PRICE AND FINANCING. Buyer agrees to pay for the Property as
follows:
$ 0 ▇▇▇▇▇▇▇ Money Deposit
$ 0 Existing Loan : Buyer agrees to assume and pay an existing loan
in this approximate amount presently payable at $ ___________ per
month including principal, interest,(presently at ___ % per annum),
[ ] real estate taxes, [ ] property insurance premium and [ ]
mortgage insurance premium. Buyer agrees to pay any transfer and
assumption fees. Seller [ ] shall [ ] shall not be released from
liability on said loan. Any net differences between the approximate
balance of the loan shown above and the actual balance at Closing
shall be adjusted in [ ] Cash [ ] Other
____________________________ .
$ 48,000 Proceeds form New Loan: Buyer reserves the right to apply for any
of the following loans under the terms described below. [ ]
Conventional [ ] FHA [ ] VA [ ] Other _____________________ .
Seller agrees to pay $ - 0 - Toward Discount Points and Buyer's
other loan and closing costs, to be allocated at Buyer's
discretion. [ ] For a fixed rate loan: Amortized and payable over
_______ years, interest shall not exceed _____ % per annum; monthly
principal and interest payment shall not exceed $ ___________ , or
[ ] For an Adjustable Rate Mortgage (ARM): Amortized and payable
over ______ years; initial interest rate shall not exceed _____ %
per annum; initial monthly principal and interest payments shall
not exceed $ _______________ . Maximum Life Term interest shall not
exceed ________ % per annum.
$ 12,000 Seller Financing: (See attached Seller Financing Addendum)
$ 0 Other:
$ 0 Balance of Purchase Price in cash at closing.
$ 60,000 TOTAL PURCHASE PRICE
2.1 Existing/New Loan Application. Buyer agrees to make application for a loan
specified above within 20 Calendar days (Application Date) after Acceptance.
Buyer will have made Loan Application only when Buyer has: (a) completed,
signed, and delivered to the Lender the initial loan application and
documentation required by the Lender; and (b) paid all loan application fees as
required by the Lender. Buyer will continue to provide the Lender with any
additional documentation as required by the Lender. If, within seven calendar
days after receipt of written request from Seller, Buyer fails to provide to
Seller written evidence that Buyer has made Loan Application by the Application
Date, then Seller may, prior to the Qualification Date, the Property, in its
current condition and for seller's exclusive remedy, the ▇▇▇▇▇▇▇ Money Deposit
without the requirement of any further written authorization from Buyer.
2.2 Qualification. Buyer and the Property must qualify for a loan for which
application has been made under section 2.1 within 90 calendar days
(Qualification Date) after Acceptance . The Property is deemed qualified if, on
or before the Qualification Date, the Property, in its current condition and for
the Buyer's intended use, has appraised at a value not less than the Total
Purchase Price. Buyer is deemed qualified if, on or before the Qualification
Date , the Lender verifies in writing that Buyer has been approved as of the
verification date.
2.3 Qualification Contingency. If Seller has not previously voided this Contract
as provided in Section 2.1, and either the Property or Buyer has failed to
qualify on or before the Qualification Date , either party may cancel this
Contract by providing written notice to the other party within three calendar
days after the Qualification Date, otherwise Buyer and the Property are deemed
qualified. The Brokerage, upon receipt of a copy of such written notice, shall
return to Buyer the ▇▇▇▇▇▇▇ Money Deposit without the requirement of any further
written authorization of Seller.
3. CLOSING. This transaction shall be closed on or before 30 days following
condo conversion approval . Closing shall occur when: (a) Buyer and Seller have
signed and delivered to each other (or to the escrow/title company),all
documents required by this Contract, by the Lender, by written escrow
instructions and by applicable law; (b) the monies required to be paid under
these documents have been delivered to the escrow / title company in the form of
cashier's check collected or cleared funds. Seller and Buyer shall each pay
one-half of the escrow Closing fee, unless otherwise agreed by the parties in
writing. Taxes and assessments for the current year, rents, and interest on
assumed obligations shall be prorated as set forth in this Section. Unearned
deposits on tenancies shall be transferred to Buyer at Closing. Prorations set
forth in this Section shall be made as of [x] date of Closing; [ ] date of
possession; [ ]other ____________________________________________.
4. POSSESSION. Unless otherwise agreed in writing by the parties, Seller shall
deliver possession to Buyer within 48 hours after Closing.
5. CONFIRMATION OF AGENCY DISCLOSURE. At the signing of this Contract the
Listing Agent Represents [x] Seller [ ] Buyer, and the Selling Agent Represents
[ ] Seller [x] Buyer. Buyer and Seller confirm that prior to signing this
Contract written disclosure of the agency relationship(s) was provided to
him/her.
6. TITLE TO PROPERTY AND TITLE INSURANCE. (a) Seller has, or shall have at
Closing, free title to the Property and agrees to convey such title to Buyer by
general warranty deed, free of financial encumbrances as warranted under Section
10.6; (b) Seller agrees to pay for, and furnish Buyer at Closing with, a current
standard form Owner's policy of title insurance in the amount of the Total
Purchase Price; (c) the title policy shall conform with Seller's obligations
under subsections (a)and(b).Unless otherwise agreed under Section 8.4, the
commitment shall conform with the title insurance commitment provided under
Section 7.
7 SELLER DISCLOSURES. No later than __________ calendar days after Acceptance,
the Seller will deliver to the Buyer the following Seller Disclosures: (a) a
Seller Property Condition Disclosure for the Property, signed and dated by
Seller; (b) a commitment for the policy of title insurance required under
Section 6, to be issued by the title insurance company chosen by Seller,
including copies of all documents listed as Exceptions on the Commitment; (c) a
copy of all loan documents relating to any loan now existing which will encumber
the Property after Closing; and, (d) a copy of all leases affecting the Property
not expiring prior to Closing. Seller agrees to pay any title commitment
cancellation charge under subsection (b).
8. CONTINGENCIES. In addition to Qualification under Section 2.2 this offer is:
(a)subject to Buyer's approval of the content of each of the items referenced in
Section 7 above; and (b) [ X ] is [ ] is not subject to Buyer's approval of an
inspection of the Property. The inspection shall be paid for by Buyer under
Section 11 and to make the Property available for the same.
8.1 Buyer shall have 90 Calendar days after Acceptance in which to
review the content of Seller Disclosures, and, if the inspection contingency
applies, to complete and evaluate the inspection of the Property, and to
determine, if, in Buyer's sole discretion, the content of all Seller Disclosures
(including the Property Inspection ) is acceptable.
8.2 If Buyer does not deliver a written objection to Seller regarding a
Seller Disclosure, or the Property Inspection within the time provided in
subsection 8.1 above, that document or inspection will be deemed approved or
waived by Buyer.
8.3 If Buyer objects, Buyer and Seller shall have seven Calendar days
after receipt of the objections to resolve Buyer's objections. Seller my, but
shall not be required to, resolve Buyer's objections. If Buyer's objections are
not resolved within the seven calendar days, Buyer may void this Contract by
providing written notice to Seller within the same seven calendar days. The
Brokerage, upon receipt of a copy of Buyer's written notice, shall return to
Buyer the ▇▇▇▇▇▇▇ Money Deposit without the requirement of any further written
authorization from Seller. If this Contract is not voided by Buyer, Buyer's
objection is deemed to have been waived. However, this waiver does not affect
warranties under Section 11.
8.4 Resolution of Buyer's objections under Section 8.3 shall be in writing and
shall be specifically enforceable as covenants of this Contract.
9. SPECIAL CONTINGENCIES. This offer is made subject to: The terms of attached
Addendum # Are incorporated into this Contract by this reference.
10. SELLER'S LIMITED WARRANTIES. Seller's warranties to Buyer regarding the
Property are limited to the following:
10.1 When Seller delivers possession of the Property to Buyer, it will
be broom-clean and free of debris and personal belongings;
10.2 Seller will deliver possession of the Property to Buyer with the
plumbing, plumbed fixtures, heating, cooling, ventilating, electrical and
sprinkler (indoor and outdoor) systems, appliances, and fireplaces in working
order;
10.3 Seller will deliver possession of the Property to Buyer with the
roof and foundation free of leaks known to Seller;
10.4 Seller will deliver possession of the Property to Buyer with any
private well or septic tank serving the Property in working order and in
compliance with governmental regulations;
10.5 Seller will be responsible for repairing any of Seller's
moving-related damage to the Property.
10.6 At Closing, Seller will bring current all financial obligations
encumbering the Property which are assumed in writing by Buyer and will
discharge all such obligations which Buyer has not so assumed;
10.7 As of Closing, Seller has no knowledge of any claim or notice of
an environmental, building, or zoning code violation regarding the Property
which has not been resolved.
11. VERIFICATION OF WARRANTED AND INCLUDED ITEMS. After all contingencies have
been removed and before Closing, the Buyer may conduct a "walk-through"
inspection of the Property to determine whether or not items warranted by Seller
in Section 10.1, 10.2, 10.3 and 10.4 are in the warranted condition and to
verify that items included in Section 1.1 are presently on the Property. If any
item is not in the warranted condition, Seller will correct, repair or replace
it as necessary or, with the consent of Buyer and (if required) Lender, escrow
an amount at Closing to provide for such repair or replacement. The Buyer's
failure to conduct a "walk-through" inspection or to claim during the
"walk-through" inspection that the Property does not include all items
referenced on Section 1.1 or is not in the condition warranted in Section 10 ,
shall constitute a waiver of Buyer's rights under Section 1.1 and of the
warranties contained in Section 10.
12. Changes during Transaction. Seller agrees that no changes in any existing
leases shall be made, no new leases entered into, and no substantial alterations
or improvements to the Property shall be undertaken without the written consent
of the Buyer.
13. AUTHORITY OF SIGNERS. If Buyer or Seller is a corporation, partnership,
trust, estate, or other entity, the person executing this Contract on its behalf
warrants his or her authority to do so and to bind Buyer or Seller.
14. COMPLETE CONTRACT. This instrument,together with its Addenda, any attached
Exhibits, and Seller Disclosures constitute the entire Contract between the
parties and supersedes all prior negotiations, warranties, understandings or
contract between the parties. This Contract cannot be changed except by written
agreement of the parties.
15. DISPUTE RESOLUTION. The parties agree that any dispute or claim relating to
this Contract, including but not limited to the disposition of the ▇▇▇▇▇▇▇ Money
Deposit and the breach or termination of this Contract, shall first be submitted
to mediation in accordance with the Utah Real Estate Buyer/Seller Mediation
Rules of the American Arbitration Association. Disputes shall include
representations made by the parties, any Broker or other person or entity in
connection with the sale, purchase, financing, condition or other aspect of the
Property to which this Contract pertains, including without allegations of
concealment, misrepresentation, negligence and/or fraud. Each party agrees to
bear its own costs of mediation. Any Agreement signed by the parties pursuant to
the mediation shall be binding. If mediation fails, the procedures applicable
and remedies available under this Contract shall apply. Nothing in this Section
15 shall prohibit any party from seeking emergency equitable relief pending
mediation. By marking this box[ X ], and adding their initials, the Buyer ( ),
and the Seller ( ), agree that mediation under this Section 15 is not mandatory,
but is optional upon agreement of all parties.
16. DEFAULT. If Buyer defaults, Seller may elect to either retain the ▇▇▇▇▇▇▇
Money Deposit as liquidated damages or to return the ▇▇▇▇▇▇▇ Money Deposit and
▇▇▇ Buyer to enforce Seller's rights. If Seller defaults, in addition to return
of the ▇▇▇▇▇▇▇ Money Deposit, Buyer nay elect to either accept from Seller as
liquidated damages a sum equal to the ▇▇▇▇▇▇▇ Money Deposit or ▇▇▇ Seller for
specific performance and/or damages. If Buyer elects to accept the liquidated
damages, Seller agrees to pay the liquidated damages to Buyer upon demand. Where
a Section of this Contract provides a specific remedy, the parties intend that
the remedy shall be exclusive regardless of rights which might otherwise
available under common law.
17. ATTORNEY'S FEES. In any action arising out of this Contract, the prevailing
party shall be entitled to costs and reasonable attorney's fees.
18. DISPOSITION OF ▇▇▇▇▇▇▇ MONEY. The ▇▇▇▇▇▇▇ Money Deposit shall not be
released unless it is authorized by: (a) Section 2, Section 8.3 or Section 15;
(b) separate written agreement of the parties; or (c) court order.
19. ABROGATION. Except for express warranties made in this Contract, the
provisions of this Contract, shall not apply after Closing.
20. RISK OF LOSS. All risk of loss or damage to the Property shall be borne by
Seller until Closing.
21. TIME IS OF THE ESSENCE. Time is of the essence regarding the dates set forth
in this transaction. Extensions must be agreed to in writing by all parties.
Performance under each Section of this Contract which references a date shall be
required absolutely by 5:00 P.M., Mountain Time on the stated date.
22. FACSIMILE (FAX) DOCUMENTS. Facsimile transmission of any singed original
document, and re-transmission of any signed facsimile transmission, shall be the
same as delivery of an original. If the transaction involves multiple buyers or
Sellers, facsimile transmissions may be executed in counterparts.
23. ACCEPTANCE. Acceptance occurs when Seller or Buyer, responding to an offer
or counteroffer of the other; (a) signs the offer or counteroffer where noted
to indicate acceptance; and (b) communicates to the other party or the other
party's agent that the offer or counteroffer has been signed as required.
24. OFFER AND TIME FOR ACCEPTANCE. Buyer offers to purchase the Property on the
above terms and conditions. If Seller does not accept this offer by [ ] AM [ ]
PM Mountain Time, , , this offer shall lapse; and the holder of the ▇▇▇▇▇▇▇
Money Deposit shall return it to the Buyer.
/s/ ▇▇▇▇▇ ▇▇▇▇▇▇▇ 10-10-97
(Buyer's Signature) (Offer Date)
---------------------------------------- ----------------
(Notice Address) (Phone)
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ACCEPTANCE/REJECTION/COUNTEROFFER
Acceptance of Offer to Purchase: Seller Accepts the foregoing offer on the terms
and conditions specified above:
__/s/ ▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇ 10-10-97
(Seller's Signature) Cyberstate, Inc (Date) (Time)
------------------------------------------------ ----------------
(Notice Address) (Phone)
Rejection: Seller Rejects the foregoing offer.
________________ (Seller's initials) ____________ (Date) _________________(Time)
[ ] Counter Offer: Seller presents for Buyer's Acceptance the terms of Buyer's
offer subject to the exceptions or modifications as specified in the attached
Counter Offer #_____1______.
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DOCUMENT RECEIPT
State Law requires Broker to furnish Buyer and Seller with copies of this
Contract bearing all signatures. (One of the following alternatives must
therefore be completed).
A. [ ] I acknowledge receipt of a final copy of the foregoing Contract bearing
all signatures:
SIGNATURE OF SELLER SIGNATURE OF BUYER
----------------------------- ------- ------------------------- ---------
Date Date
----------------------------- ------- ------------------------- ---------
Date Date
B. [ ] I personally caused a final copy of the foregoing contract bearing all
signatures to be mailed on _____________, 19______ by certified Mail and return
receipt attached hereto to the [ ] Seller [ ] Buyer, Sent by _______________
Seller's Initials ( ) Date __________ Buyer's Initials ( ) Date _____________
SELLER FINANCING ADDENDUM TO
REAL ESTATE PURCHASE CONTRACT
This is a legally binding Contract. Utah state law requires that licensed real
estate agents use this form, but the Buyer and the Seller may legally agree in
writing to alter or delete provisions of this form. If you desire legal or tax
advice, consult your attorney or tax advisor.
THIS SELLER FINANCING ADDENDUM is made a part of that REAL ESTATE PURCHASE
CONTRACT (the "REPC") with an Offer Reference Date of October 10 , 1997 ,
between ▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇ as Buyer, and Cyberstate, Inc. as Seller. The terms of
this ADDENDUM are hereby incorporated as part of the REPC, and to the extent
these terms conflict with or modify any provisions of the REPC, the terms of
this Addendum shall control. All other terms of REPC not modified by this
Addendum shall remain the same:
▇.▇▇▇▇▇▇ DOCUMENTS: Seller's extension of credit to Buyer shall be evidenced by:
(X) Note and Deed of Trust ( ) Note and All-Inclusive Deed of Trust ( )
Other:__________________________________________________
2. CREDIT TERMS: The terms of the credit documents referred to in Section 1
above are as follows: $ 12,000 principle amount of the note (the "Note");
interest at 7 % per annum; payable at approximately $ $ N/A per N/A. The entire
unpaid balance of principle plus interest is dune in N/A months from date of the
Note. First payment due 30 days after close. Additional principal payments
balloon payments or other terms as follows:
Term of note shall be the same as buyers new loan term,
Payments based on a 30 year amortization.
The credit documents referenced in Section 1 of the ADDENDUM will contain a
due-on-sale clause in favor of Seller. Buyer [ ] will [ ] will not provide
Seller at Closing with a lender's title policy insuring Seller in the amount of
the Note. Seller agrees to provide to Buyer at Settlement: (a) an amortization
schedule based on the above terms; (b) a written disclosure of the total
interest Buyer will pay to maturity of the Note.
3. TAXES AND ASSESSMENTS. In addition to the payments referenced in Section 2
above, Buyer shall also be responsible for: (i) property taxes; (ii) homeowners
association dues; (iii) special assessments; and (iv) hazard insurance premiums
on the Property. These obligations will be paid. ( ) directly to Seller/Escrow
Agent on a monthly basis (X ) directly to the applicable county treasurer;
association; and insurance company as required by those entities.
4.PAYMENT. Buyer's payments under Section 2 and 3 above will be made to: (X)
Seller ( ) an ESCROW AGENT. If an Escrow Agent N/A will act as Escrow Agent and
will be responsible for disbursing payments on any underlying mortgage or deed
of trust ( the "underlying mortgage") and to the Seller. Cost of setting up the
escrow account shall be paid by: ( ) Buyer ( ) Seller ( ) split evenly between
the parties.
5. LATE PAYMENT/PREPAYMENT. Any payment not made within 30 days after it is due
is subject to a late charge of $ 25.00 or --5--% of the installment due. Amounts
in default shall bear interest at a rate of 14 % per annum. All or part of the
principal balance on the Note may be paid prior to maturity without penalty.
6. DUE-ON-SALE. This transaction is subject to Buyer's approval of the terms of
any underlying loan as provided in Section 8 of the REPC. Buyer acknowledges
that any underlying loan on the Property may contain a due-on-sale clause which
requires the lender's consent to this transaction If the lender does not consent
to this transaction and calls the loan immediately due, Buyer agrees to
discharge the underlying loan as required by the lender. In such event, Seller's
remaining equity shall be paid as provided in the credit documents.
7. BUYER DISCLOSURES. Buyer has provided to Seller, as a required part of this
ADDENDUM, the attached Buyer Financial Information Sheet Part B. Buyer ( ) WILL
( X ) WILL NOT provide Seller with copies of IRS returns for the two preceding
tax years. Buyer acknowledges that Seller may contact Buyer's current employer
for verification of employment as represented by Buyer in the Buyer Financial
Information Sheet.
8. SELLER APPROVAL. Within the time referenced in Section 7 of the REPC, Buyer
shall provide to Seller, at Buyer's expense, a current credit report on Buyer
from a consumer credit reporting agency. Seller may use the credit report and
the information contained in the credit report and the information referenced in
Section 7 of this Addendum (collectively referred to as the "Buyer Disclosures")
to evaluate the credit-worthiness of Buyer.
Seller agrees to maintain confidential all information contained in the Buyer
disclosures.
8.1 Seller Review. Within the time period allowed in Section 8.1 of the REPC,
Seller shall review the credit report and Buyer Disclosures to determine if, in
Seller's sole discretion, the content of the credit report, and the Buyer
Disclosures, is acceptable. If the content of the credit report or the Buyer
Disclosures is not acceptable to Seller, Seller may elect to either: (i) provide
written objections to Buyer as provided in Section 8.2 of this Addendum; or (ii)
immediately void the REPC by providing written notice to Buyer within the time
referenced in Section 8.1 of the REPC. The Brokerage , upon receipt of a copy of
Seller's written notice of cancellation, shall return to Buyer the ▇▇▇▇▇▇▇ Money
Deposit without the requirement of any further written authorization from
Seller.
8.2 Seller Objections. If Seller does not immediately void the REPC as
provided above, Seller may within the time period allowed in Section 8.1 of the
REPC, provide Buyer with written objections. Buyer and Seller shall have seven
calendar days after Buyer's receipt of the objections to resolve Seller's
objections. Buyer may, but shall not be required to, resolve Seller's
objections. If Seller's objections are not resolved within the seven calendar
days, Seller may void the REPC by providing written notice to Buyer within the
same seven calendar days. The Brokerage, upon receipt of a copy of Seller's
written notice of cancellation, shall return to Buyer the ▇▇▇▇▇▇▇ Money Deposit
without the requirement of any further written authorization from Seller.
8.3 Failure to Object. If Seller does not deliver a written objection to
Buyer regarding the credit report or a Buyer Disclosure within the time period
allowed in Section 8.1 of the REPC, or if Seller does not void the REPC as
provided in Sections 8.1 and 8.2 of this Addendum, any objection to the credit
report and Buyer Disclosures will be deemed approved or waived by Seller. [ X ]
Seller [ ] Buyer shall have until ________ [ ] A.M. [ ] P.M. Mountain Time
_______________ , 19 ___ to accept these terms in accordance with Section 23 of
the REPC. Unless so accepted, this offer shall lapse.
/s/ ▇▇▇▇▇ ▇▇▇▇▇▇▇ 10-10-97
[ X] Buyer [ ] Seller Signature Date
[ ] Buyer [ ] Seller Signature Date
ACCEPTANCE/REJECTION/COUNTEROFFER
CHECK ONE:
[X ] ACCEPTANCE: [ ] Buyer [ X ] Seller hereby accepts these terms.
/s/ ▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇ 10-10-97
[ ] Buyer [ X ] Seller Signature Date Time
[ ] Buyer [ ] Seller Signature Date Time
[ ] REJECTION: [ ] Seller [ ] Buyer rejects these terms.
(Initials) (Date) (Time)
[ ] COUNTEROFFER: [ ] Seller [ ] Buyer presents as a counter offer the terms set
forth on the attached Counter Offer # ______.
▇▇▇▇▇▇▇▇ ▇▇. ▇
▇▇
▇▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇
PAGE 1 OF 1
THIS IS AN [ ] ADDENDUM [ X ] COUNTEROFFER to that REAL ESTATE PURCHASE CONTRACT
(the "REPC") with and Offer Reference Date of October 10 , 1997 , including all
prior addenda and counteroffers, between ▇▇▇▇▇ ▇▇▇▇▇▇▇ as Buyer, and Cyberstate,
Inc. as Seller, regarding the Property located at ▇▇▇▇ ▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇▇# ▇▇▇,
▇▇▇▇▇, ▇▇▇▇ . The following terms are hereby incorporated as part of the REPC:
#1 Purchase price increased to $65,000
#2 Seller carry back is $22,250 amortized over 15 years at 9%.
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/s/ ▇▇▇▇▇ ▇▇▇▇▇▇▇ 3/18/98
[ X ] Buyer [ ] Seller Signature Date Time
/s/ ▇▇▇▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇ 3/18/98
[ ] Buyer [ X ] Seller Signature Date Time
Addendum #1 A to Real-estate Purchase Contract dated 10-10-97 between
Cyberstate, Inc. (Seller) and ▇▇▇▇▇ ▇▇▇▇▇▇▇ (Buyer)
This refers to financing only.
The sales price will remain. The Carry back will 15% of the sale price or
$9,000.00. Balance of Purchase price in Cash at Closing will be $6,000.
/s/ ▇▇▇▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇ 11-20-97 /s/ ▇▇▇▇▇ ▇▇▇▇▇▇▇ 11/20/97
Seller Date Buyer Date
