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4-A Draft Wilderness Hotel Condominium
Construction and Sales Agreement
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WILDERNESS HOTEL
CONSTRUCTION AND SALES AGREEMENT
GENERAL PROVISIONS The Buyer, ________________, offers to purchase the
Property known as [Street Address] 000 Xxxx Xxxxx Xxxxxx in the Village of Lake
Xxxxxx , County of Sauk Wisconsin, particularly described as Unit: ____ of
Wilderness Hotel Condominium, Seller's undivided interest in the common
elements appurtenant to the Unit, together with and subject to the rights,
interests, obligations and limitations as set forth in the Registration
Statement and Prospectus (collectively the "Registration Statement")(see lines
202 to 205), Collateral Contracts (see lines 206 to 207) declaration and
condominium plat (and all amendments to them) creating the Condominium, which
altogether constitute the Property.
o PURCHASE PRICE: _______________________ Dollars ($____________________).
o EARNEST MONEY of $________________________ in the form of a check accompanies
this Offer.
o THE BALANCE OF PURCHASE PRICE will be paid in cash or equivalent at closing
unless otherwise provided in this Offer.
o ADDITIONAL ITEMS INCLUDED IN PURCHASE PRICE: Seller shall include in the
purchase price and transfer free and clear of encumbrances: Seller's interest
in any common surplus and reserves of the condominium allocated to the Unit;
and all fixtures, as defined at lines 193 to 197 and as may be in or on the
Unit on the date of this Offer, unless excluded at lines 16 to 17 and the
following additional items: Hotel Condominium furnishings per the attached
personal property list
o ITEMS NOT INCLUDED IN THE PURCHASE PRICE: N/A.
o PARKING: The parking for this Unit is: unassigned and pursuant to the Use and
Access Agreement (see lines 206 to 207).
o ASSOCIATION FEE: The association fee for this Unit is $_______[not yet
determined]______ per __________________.
o PROPERTY CONDITION REPRESENTATIONS: Seller represents to Buyer that as of the
date of acceptance Seller has no notice or knowledge of conditions affecting
the Property or transaction (as defined at lines 168 to 187). The transfer of
the Property is exempt by Wis. Stats. 709.01 from the requirement to provide a
Seller's Real Estate Condition Report, as the Property is new construction and
has not been inhabited.
o TIME IS OF THE ESSENCE as to: (1) Xxxxxxx money payment(s); (2) binding
acceptance; (3) occupancy; (4) date of closing; (5) delivery of Condominium
Disclosure Materials (see lines 86 to 92) and all other dates and deadlines in
this Offer.
OPTIONAL PROVISIONS AND ADDENDA
See lines 225 to 261 for optional provisions including contingencies.
ADDITIONAL PROVISIONS
o This Offer is subject to the terms, conditions, and restrictions of the
Registration Statement (see lines 202 to 205) and Collateral Contracts (see
lines 206 to 207), and Buyer acknowledges receipt thereof.
o The parties agree to be bound by the terms, conditions and restrictions of
the Registration Statement and Collateral Contracts, and execute the same as
required.
o Seller agrees to construct the Property as set forth in the Registration
Statement. Delivery of the Property will be made no later than two (2) years
after execution of this Hotel Condominium Construction and Sales Agreement.
o Any rental of the Property must be pursuant to the Rental Pool Agreement as
further set forth in the Registration Statement which is consistent with the
design of the Property as a business investment in a hotel condominium project
located in a golf resort complex.
o At closing, Buyer shall pay three (3) months' Association fee in advance to
establish a reserve and the pro rata balance of the current quarter's
Association fees (billed quarterly in advance) due as of closing.
o The Seller reserves the right to cancel the Registration Statement, in its
sole discretion, if market conditions so dictate, and upon Seller's
cancellation of the Registration Statement, this Hotel Condominium Construction
and Sales Agreement shall be null and void and all xxxxxxx money shall be
returned to Buyer.
o Buyer shall have the right to cancel this Hotel Condominium Construction and
Sales Agreement, without penalty or obligation, within five (5) days from the
date of the execution hereof, pursuant to Section 703.33 of the Wisconsin
Statutes.
o Buyer acknowledges receipt of the Registration Statement.
ACCEPTANCE, DELIVERY AND RELATED PROVISIONS
o BINDING ACCEPTANCE: This Offer is binding upon both parties only if a copy of
the accepted Offer is delivered to Buyer on or before ______________. CAUTION:
This Offer may be withdrawn prior to delivery of the accepted Offer.
o DELIVERY OF DOCUMENTS AND WRITTEN NOTICES: Unless otherwise stated in this
Offer, delivery of documents and written notices to a party shall be effective
only when accomplished in any of the following ways:
(1) By depositing the document or written notice postage or fees prepaid in the
U.S. Mail or a commercial delivery system addressed to the party at:
Seller: Wilderness Development Corporation, 000 Xxxx Xxxxx Xxxxxx,
Xxxxxxxxx Xxxxx, XX 00000
With a Copy to: Xxxxxxx & Xxxxxxx, S.C., 440 Science Drive, Madison,
Wisconsin 00000 (000) 000-0000 fax: (000) 000-0000
Buyer: _____________________________________________________
(2) By giving the document or written notice personally to the party;
(3) By electronically transmitting the document or written notice to the
following telephone number:
Buyer: ( ) __________________ Seller: Wilderness Development
Corporation (000) 000-0000
OCCUPANCY AND RELATED PROVISIONS
o OCCUPANCY of Property shall be given to Buyer at time of closing unless
otherwise provided in this Offer. At time of Buyer's occupancy, the Unit and
any limited common elements assigned exclusively to the Unit shall be free of
all debris and personal property except for personal property sold to Buyer.
o RENTAL WEATHERIZATION: This transaction is exempt from State of Wisconsin
Rental Weatherization Standards (ILHR 67, Wisconsin Administrative Code) as the
Property is less than ten (10) years old.
o CLOSING: This transaction is to be closed at the Wilderness Hotel & Resort,
000 Xxxx Xxxxx Xxxxxx, Xxxxxxxxx Xxxxx, Xxxxxxxxx 00000 no later than twenty
(20) days after substantial completion of the Property and written notice to
Buyer, unless another date or place is agreed to in writing. Immediately after
closing Buyer and Seller shall notify the condominium association of the
transfer.
o CLOSING PRORATIONS: The following items shall be prorated at closing: real
estate taxes, rents, property owner's or condominium association fees and
assessments and any payments due under the Collateral Contracts. Any income,
taxes or expenses shall accrue to Seller, and be prorated, through the day
prior to closing. Net general real estate taxes shall be prorated based on the
net general real estate taxes for the current year, if known, otherwise on the
net general real estate taxes for the preceding year.
o FORM OF TITLE EVIDENCE: Seller shall give evidence of title by an owner's
policy of title insurance (including the ALTA Condominium 4 endorsement or
equivalent) as further described at lines 147 to 161.
o CONVEYANCE OF TITLE: Upon payment of the purchase price, Seller shall convey
or cause to be conveyed the Property by warranty deed (or other conveyance as
provided herein) free and clear of all liens and encumbrances, except:
municipal and zoning ordinances and agreements entered under them, recorded
easements for the distribution of utility, municipal and association services,
easements for performance of association duties, recorded building and use
restrictions and covenants, general taxes levied in the year of closing,
Wisconsin
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Xxxxxxxxxxx Xxx, condominium declaration and plat and association articles of
incorporation, bylaws and rules, the Offering, the Collateral Contracts, and
amendments to the above, and (provided none of the foregoing prohibit use of
the Property as a hotel condominium), which constitutes merchantable title for
purposes of this transaction. Seller further agrees to complete and execute
the documents necessary to record the conveyance. WARNING: Condominium
instruments, the Offering, the Collateral Contracts, municipal and zoning
ordinances, recorded building and use restrictions, covenants and easements
prohibit certain improvements or uses and therefore should be reviewed
carefully by Buyer.
o SPECIAL ASSESSMENTS: Special assessments, if any, including those by the
homeowner's or condominium association, for work on site actually commenced or
levied prior to date of closing shall be paid by Seller no later than closing.
All other special assessments shall be paid by Buyer.
CONDOMINIUM DISCLOSURES AND PROPERTY CONDITION PROVISIONS
o CONDOMINIUM DISCLOSURES: Seller agrees to provide Buyer with complete,
current copies of the disclosure materials (organization and operational
documents, plans, financial statements and, in the case of a conversion
condominium, property information) as required by Wisconsin Statutes s. 703.33
no later than 15 days prior to closing and any amendment to these materials
promptly after its adoption. These materials are available at cost from the
condominium association. AS PROVIDED IN SECTION 703.33(4), WIS. STATS., BUYER
MAY, WITHIN FIVE BUSINESS DAYS AFTER RECEIPT OF THESE DOCUMENTS, INCLUDING ANY
MATERIAL MODIFICATION THERETO, RESCIND THIS OFFER BY WRITTEN NOTICE MAILED OR
DELIVERED TO SELLER, THE DATE OF MAILING OR ACTUAL DELIVERY BEING THE EFFECTIVE
DATE OF NOTICE.
o REAL ESTATE CONDITION REPORT: Wisconsin law requires sellers of property
which includes 1-4 dwelling units to provide buyers with a Real Estate
Condition Report. Excluded from this requirement are sales of property that
has never been inhabited, and this Property has never been inhabited.
o INSPECTIONS: Seller agrees to allow Buyer's inspectors reasonable access to
the Unit, upon reasonable notice. Buyer agrees to promptly provide copies of
all inspection reports to Seller, and to listing broker if Unit is listed.
o PROPERTY DAMAGE BETWEEN ACCEPTANCE AND CLOSING: Seller shall maintain a
constructed Unit until the earlier of closing or occupancy of Buyer in
materially the same condition as of the date of acceptance of this Offer,
except for ordinary wear and tear, and except for Units under construction
which Seller shall complete. If, prior to the earlier of closing or occupancy
of Buyer, the Unit or common elements in the building containing the Unit are
damaged in an amount of not more than five percent (5%) of the selling price,
Seller (individually or through the homeowner's or condominium owner's
association), shall be obligated to repair the Property and restore it to the
same condition that it was on the day of this Offer. If the damage shall
exceed such sum, or such damage shall occur to the common elements of the
condominium in excess of insurance coverage in an amount which, when multiplied
by the percentage interest of the Unit in the declaration exceeds Two Thousand
Dollars ($2,000.00), Seller shall promptly notify Buyer in writing of the
damage and this Offer may be canceled at option of Buyer. Should Buyer elect
to carry out this Offer despite such damage, the insurance proceeds shall be
held in trust for the sole purpose of restoring the Property.
o PRE-CLOSING INSPECTION: At a reasonable time, preapproved by Seller or
Seller's agent, within 3 days before closing, Buyer shall have the right to
inspect the Unit to determine that there has been no significant change in the
condition of the Unit, except for ordinary wear and tear and completion of
construction, and that any construction or defects Seller has elected to cure
have been completed or repaired in a good and workmanlike manner.
DEFAULT
Seller and Buyer each have the legal duty to use good faith and due
diligence in completing the terms and conditions of this Offer. A material
failure to perform any obligation under this Offer is a default which may
subject the defaulting party to liability for damages or other legal remedies.
If Buyer defaults, Seller may:
(1) xxx for specific performance and request the xxxxxxx money as
partial payment of the purchase price; or
(2) terminate the Offer and have the option to: (a) request the
xxxxxxx money as liquidated damages; or (b) direct Escrow Agent
to return the xxxxxxx money and have the option to xxx for actual
damages.
If Seller defaults, Buyer may:
(1) xxx for specific performance; or
(2) terminate the Offer and request the return of the xxxxxxx money,
xxx for actual damages, or both.
In addition, the Parties may seek any other remedies available in law
or equity.
The Parties understand that the availability of any judicial remedy
will depend upon the circumstances of the situation and the discretion of the
courts. If either Party defaults, the Parties may renegotiate the Offer or seek
nonjudicial dispute resolution instead of the remedies outlined above. By
agreeing to binding arbitration, the Parties may lose the right to litigate in
a court of law those disputes covered by the arbitration agreement.
XXXXXXX MONEY
o HELD BY: Xxxxxxx money shall be held by an Escrow Agent selected by Seller
and shall be held in the account of the Seller's Escrow Agent until applied to
purchase price or otherwise disbursed as provided in the Offer. If
negotiations do not result in an accepted offer, the xxxxxxx money shall be
promptly disbursed (after clearance from payor's depository institution if
xxxxxxx money is paid by check) to the person who paid the xxxxxxx money.
o DISBURSEMENT: At closing, xxxxxxx money shall be disbursed according to the
closing statement. If this Offer does not close, the xxxxxxx money shall be
disbursed according to a written disbursement agreement signed by all Parties
to this Offer. If said disbursement agreement has not been delivered to the
Escrow Agent within 60 days after the date set for closing, the Escrow Agent
may disburse the xxxxxxx money: (1) as directed by an attorney who has reviewed
the transaction and does not represent Buyer or Seller; (2) into a court
hearing a lawsuit involving the xxxxxxx money and all Parties to this Offer;
(3) as directed by court order; or (4) any other disbursement required or
allowed by law. The Escrow Agent may retain legal services to direct
disbursement per (1) or to file an interpleader action per (2) and the Escrow
Agent may deduct from the xxxxxxx money any costs and reasonable attorneys
fees, not to exceed Four Hundred Fifty Dollars ($450.00), prior to
disbursement.
o LEGAL RIGHTS/ACTION: The Escrow Agent's disbursement of xxxxxxx money does
not determine the legal rights of the Parties in relation to this Offer. At
least 30 days prior to disbursement per (1) or (4), the Escrow Agent shall send
Buyer and Seller notice of the disbursement by certified mail. If Buyer or
Seller disagree with the Escrow Agent's proposed disbursement, a lawsuit may be
filed to obtain a court order regarding disbursement. The Buyer and Seller
should consider consulting attorneys regarding their legal rights under this
Offer in case of a dispute. Both Parties agree to hold the Escrow Agent
harmless from any liability for good faith disbursement of xxxxxxx money in
accordance with this Offer.
TITLE EVIDENCE
o FORM OF TITLE EVIDENCE: Seller shall give evidence of title to the Property
in the form of an owner's policy of title insurance (with a Condominium 4
endorsement or equivalent) in the amount of the purchase price on a current
ALTA form issued by an insurer licensed to write title insurance in Wisconsin.
o PROVISION OF MERCHANTABLE TITLE: Seller shall pay all costs of providing
title evidence. For purposes of closing, title evidence shall be acceptable if
a commitment for the required title insurance is delivered to Buyer's attorney
or to Buyer not less then 3 business days before closing, showing title to the
Property as of a date no more than 15 days before delivery of such title
evidence to be merchantable, subject only to liens which will be paid out of
the proceeds of closing and standard abstract certificate limitations or
standard title insurance requirements and exceptions, as appropriate.
o TITLE ACCEPTABLE FOR CLOSING: If title is not acceptable for closing, Buyer
shall notify Seller in writing of objections to title by the time set for
closing. In such event, Seller shall have a reasonable time, but not exceeding
15 days, to remove the objections, and the time for
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closing shall be extended as necessary for this purpose. In the event that
Seller is unable to remove said objections, Buyer shall have 5 days from
receipt of notice thereof, to deliver written notice waiving the objections,
and the time for closing shall be extended accordingly. If Buyer does not
waive the objections, this Offer shall be null and void. Providing title
evidence acceptable for closing does not extinguish Seller's obligations to
give merchantable title to Buyer.
ENTIRE CONTRACT
This Offer, including any amendments to it, and documents incorporated herein
by reference contains the entire agreement of the Buyer and Seller regarding
the transaction. All prior negotiations and discussions have been merged into
this Offer. This agreement binds and inures to the benefit of the Parties to
this Offer and their successors.
DEFINITIONS
o ACCEPTANCE: Acceptance occurs when all Buyers and Sellers have signed the
Offer.
o CONDITIONS AFFECTING THE PROPERTY OR TRANSACTION: A "condition affecting the
Property or transaction" is defined as follows:
(a) Planned or commenced public improvements by government authorities or the
homeowner's or condominium association which may result in special assessments
against the Unit or otherwise materially affect the Condominium or the present
use of the Property;
(b) Government agency, court, homeowner's or condominium association order
requiring repair, alteration or correction of a Property condition;
(c) Structural inadequacies which if not repaired will significantly shorten
the expected normal life of the Condominium;
(d) Mechanical systems inadequate for the present use of the Condominium;
(e) Conditions constituting a significant health or safety hazard for occupants
of the Property;
(f) Insect or animal infestation of the Condominium;
(g) Underground storage tanks on the Condominium for storage of flammable or
combustible liquids including but not limited to gasoline and heating oil;
(h) Any portion of the Condominium being in a 100 year flood plain, a wetland
or a shoreland zoning area under local, state or federal regulations;
(i) Material violations of environmental rules or other rules or agreements
regulating the use of the Condominium;
(j) Material violation of state or local smoke detector laws;
(k) High voltage electric (100 KV or greater) or steel natural gas transmission
lines located on but not directly serving the Condominium;
(l) That a structure on the Property is designated as a historic building or
that any part of the Property is in a historic district;
(m) Other conditions or occurrences which would significantly reduce the value
of the Property to a reasonable person with knowledge of the nature and scope
of the condition or occurrence.
o DAYS: Deadlines expressed as a specific number of "days" from the occurrence
of an event, such as acceptance, are calculated by excluding the day the event
occurred. The deadline then expires at midnight on the last day. Deadlines
expressed as a specific number of "business days" exclude Saturdays, Sundays
and any legal public holiday under Wisconsin or Federal law, or other holiday
designated by the President such that the postal service does not receive
registered mail or make regular deliveries on that day. Deadlines expressed as
a specific day of the calendar year or as the day of a specific event, such as
closing, expire at midnight of that day.
o FIXTURES: A "Fixture" is an item of property which is physically attached to
or so closely associated with land and improvements so as to be treated as part
of the real estate, including without limitation, physically attached items not
easily removable without damage to the premises, items specifically adapted to
the premises, and items customarily treated as fixtures including but not
limited to all: screen and storm doors and windows; electric lighting fixtures;
window shades; curtain and traverse rods; blinds and shutters; heating and
cooling units and attached equipment; water heaters and softeners; attached or
fitted floor coverings; built-in appliances; and ceiling fans. See lines 12 to
15.
o TIME IS OF THE ESSENCE: If "Time is of the Essence" applies to a date or
deadline, failure to perform by the exact date or deadline is a breach of
contract. If "Time is of the Essence" does not apply to a date or deadline,
then performance within a reasonable time of the date or deadline is allowed
before a breach occurs. See lines 24 to 25.
o OFFER: "Offer" shall mean this Hotel Condominium Construction and Sales
Agreement.
o REGISTRATION STATEMENT: "Registration Statement" shall mean the Form S-11
Registration Statement and Prospectus Under the Securities Act of 1993 for "133
Hotel Condominium Units to Be Built In Two Phases With Mandatory Rental Pool At
The Wilderness Hotel & Resort" submitted to the Securities and Exchange
Commission by Wilderness Development Corporation on May 6, 1997 as Registration
No. 333-26560, and any amendments thereto or state filings thereof.
o COLLATERAL CONTRACTS: "Collateral Contracts" shall mean the Rental Pooling
Agreement, Use and Access Agreement and Management and Use Agreement as further
set forth in the Registration Statement or any amendments thereto.
PROVISIONS RELATED TO FINANCING
o LOAN COMMITMENT: If this Offer is contingent on financing, Buyer agrees to
pay all customary financing costs (including closing fees), to apply for
financing promptly, and to provide evidence of application promptly upon
request of Seller. If Buyer qualifies for said financing or other financing
acceptable to Buyer, Buyer agrees to deliver to Seller, or Seller's agent, a
copy of the written loan commitment no later than the deadline for loan
commitment under the Financing Contingency. If Buyer does not make timely
delivery of said commitment, Seller may terminate this Offer if Seller delivers
a written notice of termination to Buyer prior to Seller's actual receipt of a
copy of Buyer's written loan commitment.
o FINANCING UNAVAILABILITY: If this Offer is contingent on financing and
financing is not available on the terms stated, Buyer shall promptly deliver
written notice to Seller of same including copies of lender(s)' rejection
letter(s) or other evidence of unavailability. Unless a specific loan source
is named in the financing contingency, Seller shall then have 5 days to give
Buyer written notice of Seller's decision to finance this transaction on the
same terms set forth herein, and this Offer shall remain in full force and
effect, with the time for closing extended accordingly. If Seller's notice is
not timely given, this Offer shall be null and void.
o LAND CONTRACT: If this Offer provides for a land contract, prior to execution
of the land contract Seller shall provide the same evidence of merchantable
title as required above and written proof, at or before execution, that the
total underlying indebtedness, if any, is not in excess of the proposed balance
of the land contract, that the payments on the land contract are sufficient to
meet all of the obligations of Seller on the underlying indebtedness, and that
all creditors whose consent is required have consented to the land contract
sale.
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XXXXXXXX XXXXXXX: Unit ___, Wilderness Hotel Condominium, Lake Xxxxxx,
Wisconsin
OPTIONAL PROVISIONS: THE PROVISIONS ON LINES 227 THROUGH 261 ARE A PART OF THIS
OFFER IF MARKED, SUCH AS WITH AN "X". THEY ARE NOT PART OF THIS OFFER IF
MARKED N/A OR ARE LEFT BLANK.
____ FINANCING CONTINGENCY: This Offer is contingent upon Buyer being able
to obtain, within ______ days of acceptance of this Offer, a
__________________________ [INSERT LOAN PROGRAM (fixed) (adjustable)] [STRIKE
ONE] rate first mortgage loan commitment, in an amount of not less than
$____________________ for a term of not less than ______ years, amortized over
not less than _______ years. If the purchase price under this Offer is
modified, the loan amount, unless otherwise provided, shall be adjusted to the
same percentage of the purchase price as in this contingency and the monthly
payments shall be adjusted as necessary to maintain the term and amortization
stated above. IF FINANCING IS FIXED RATE the annual rate of interest shall not
exceed _______% and monthly payments of principal and interest shall not exceed
$__________________________. IF FINANCING IS ADJUSTABLE RATE the initial
annual interest rate shall not exceed _____%. The initial interest rate shall
be fixed for ______ months, at which time the interest rate may be increased
not more than _____% per year. The maximum interest rate during the mortgage
term shall not exceed _____%. Initial monthly payments of principal and
interest shall not exceed $__________________. Monthly payments of principal
and interest may be adjusted to reflect interest changes. MONTHLY PAYMENTS MAY
ALSO INCLUDE 1/12th of the estimated net annual real estate taxes, hazard
insurance premiums, and private mortgage insurance premiums. Buyer agrees to
pay a loan fee in an amount not to exceed ______% of the loan. [Loan fee
refers to discount points and/or loan origination fee, but DOES NOT include
Buyer's other closing costs.] SEE LINES 208 TO 223 FOR ADDITIONAL FINANCING
PROVISIONS.
_____ SECONDARY OFFER: This Offer is secondary to a prior accepted offer.
This Offer shall become primary upon delivery of written notice to Buyer that
this Offer is primary. Seller agrees to deliver said notice to Buyer promptly
upon Seller's receipt of evidence satisfactory to Seller that the prior offer
is null and void. Buyer may declare this Offer null and void by delivering
written notice of withdrawal to Seller prior to delivery of Seller's notice
that this Offer is primary. Buyer may give notice of withdrawal no earlier
than ______ hours from acceptance of this Offer. All other Offer deadlines
which are measured from acceptance shall be measured from the time this Offer
becomes primary.
_____ INSPECTION CONTINGENCY: This Offer is contingent upon a qualified
independent inspector conducting an inspection, at
Buyer's expense, of the Unit/and ____________________________ which discloses
no defects as defined below. This contingency shall be deemed satisfied unless
Buyer, within _____ days of acceptance, delivers to Seller a copy of the
inspector's written inspection report and a written notice listing the defects
identified in the inspection report to which Buyer objects. Buyer agrees to
deliver a copy of the report and notice to Xxxxxxx & Xxxxxxx, S.C., if Property
is listed, upon delivery to Seller.
o RIGHT TO CURE: Seller shall have a right to cure the defects. If Seller has
right to cure, Seller may satisfy this contingency by: (1) delivering a written
notice of Seller's election to cure defects within 10 days of receipt of
Buyer's notice; and (2) curing the defects in a good and workmanlike manner and
delivering to Buyer a written report detailing the work done no later than 3
days prior to closing. This Offer shall be null and void if Buyer makes timely
delivery of the above notice and report and Seller has a right to cure but does
not timely deliver the notice of election to cure.
o "DEFECT" DEFINED: For the purposes of this contingency, a defect is defined
as a structural, mechanical or other condition that would have a significant
adverse effect on the value of the Property; that would significantly impair
the health or safety of future occupants of the Unit; or that if not repaired,
removed or replaced would significantly shorten or have a significant adverse
effect on the expected normal life of the Unit. Defects do not include
structural, mechanical or other conditions the nature and extent of which Buyer
had actual knowledge or written notice before signing this Offer.
IF ACCEPTED, THIS OFFER CAN CREATE A LEGALLY ENFORCEABLE CONTRACT. BOTH
PARTIES SHOULD READ THIS DOCUMENT CAREFULLY. SELLER'S REPRESENTATIVES MAY
PROVIDE A GENERAL EXPLANATION OF THE PROVISIONS OF THE OFFER BUT ARE PROHIBITED
BY LAW FROM GIVING ADVICE OR OPINIONS CONCERNING YOUR LEGAL RIGHTS UNDER THIS
OFFER OR HOW TITLE SHOULD BE TAKEN AT CLOSING. AN ATTORNEY SHOULD BE CONSULTED
IF LEGAL ADVICE IS NEEDED.
This Offer was drafted on _____________________________ [date] by Buyer.
(x) __________________________________ ___________________________ _________
Buyer's Signature Print Name here: (Social Security No.) (Date)
(x) __________________________________ ___________________________ _________
Buyer's Signature Print Name here: (Social Security No.) (Date)
XXXXXXX MONEY RECEIPT. Seller's representative acknowledges receipt of xxxxxxx
money as per line 10 of the above offer. WILDERNESS DEVELOPMENT CORPORATION
By _________________________________
SELLER ACCEPTS THIS OFFER. THE WARRANTIES, REPRESENTATIONS AND COVENANTS MADE
IN THIS OFFER SURVIVE CLOSING AND THE CONVEYANCE OF THE PROPERTY. THE
UNDERSIGNED HEREBY AGREES TO CONVEY THE ABOVE-MENTIONED PROPERTY ON THE TERMS
AND CONDITIONS AS SET FORTH HEREIN AND ACKNOWLEDGES RECEIPT OF A COPY OF THIS
OFFER.
WILDERNESS DEVELOPMENT CORPORATION (EIN 00-0000000)
By ______________________________________ _____________________ ____________
Seller's Signature Print Name here: (Social Security No.) (Date)
This Offer was presented to Seller by ____________ on _________, 19___, at ___
a.m./p.m.
THIS OFFER IS REJECTED ___________________ ________
(Seller's Initials) (Date)
THIS OFFER IS COUNTERED [See attached counter) ___________________ __________
(Seller's Initials) (Date)
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