Loading...
HomeMy WebLinkAbout6B (2)Community & Economic � 6 (-2-) MMMM7Development 1200 County -City Building, 227 West Jefferson, South Bend, Indiana 46601 -1830 Phone 574/235 -9371 Fax 574/235 -9021 To: Redevelopment Commission From: David Relos, Economic Development Planner Subject: Monroe Park Neighborhood — purchase offer 609 E. Columbia Date: April 24, 2012 This memo is an update and request to proceed regarding the proposed sale of 609 E. Columbia, in the Monroe Park Neighborhood. On June 28, 2011 the Commission approved bid specs, fair - market valuation, and advertising of legal notices to begin the disposition process for five properties in the Monroe Park neighborhood. This property's fair market valuation, based on the average of two disposition appraisals, is $15,500. On July 26, 2011, staff reported that no bids had been received on any of the properties, and they would then be able to be sold at a negotiated price. On September 27, 2011 the Commission approved a contract with Bruce Gordon to list and market four of the five properties. On November 22, 2011, the Commission rejected a $5,000 offer on this property, and instead approved a counter offer in the amount of $10,000. This price was accepted by the interested party, and a purchase agreement submitted. The interested party, who lives in the neighborhood and purchased two other properties, has let the purchase agreement expire with no further action. Recently, another party has submitted an offer. This person would live in the house, which is the goal of the Commission for these houses, which is to encourage owner occupants. This offer was for $5,000. With guidance from Mr. Gordon, staff recommends that the Commission counter with a price of $8,000, and set this value as the lowest price it would accept for this property. What We Do Today Makes A Difference! Listing Broker (Co.) /t1 1/X41 /C— .70 Selling Broker (Co.) _) By office code 1 2 3 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 Date: 7 — oC / 9— (i ✓cam L. �.�✓+�A.. ( �- yZ- �� individual code ) PURCHASE AGREEMENT (IMPROVED PROPERTY) I. BUYER: N/1 /,4' " �O agrees to buy the following property from the owner ( "Belle terms, provisions, and conditions: 2. PROPERTY: fie property ( "Property ") is known as _� p Township, nor cf, Indiana, / (zip code) legally described as: 07 28 3. 29 30 31 32 4. 33 34 35 36 37 39 40 41 42 43 44 45 46 47 48 49 5. 50 51 52 53 54 55 56 57 58 I ) for the consideration and C o /v^ �iG sr- County, ( "Buyer ") subject to the following NN/ Gov vQ- — . together with any existing permanent improvements and fixtures attached (unless leased or excluded), including, but not limited to, electrical and/or gas fixtures, home heating fuel, heating and central air - conditioning equipment and all attachments thereto, built -in kitchen equipment, sump pumps, water softener, water purifier, fireplace inserts, gas logs and grates, central vacuum equipment, window shades/blinds, curtain rods drapery s galls, and fixtures, ceiling fans and light fixtures, towel racks and bars, storm doors, windows, awnings, TV ntnnas, satellite dishes and controls, storage bams, all landscaping, mailbox, garage door opener with controls AND THE FOLLOWING: A49AIg- The terms of this Agreement will determine what items are Included/excluded. All items soil shall be fully paid for by Seller at time of closing the transaction. Buyer should verify total square footage, land, room dimensions or community amenities if material. PO PRICE: Buyer will pay the total purchase price of $_ ,�OO 0 appraisal of the Property, this Agreement is contingent the Property app ais ng at no ess Buyer obtains an upon purchase price. EARNEST MONEY: Buyer submits $ ,-00 CP ich purchase price. The listing broker shall deposit earnest money recei edn ntoi itsnescrow ch h two (2) banking days of acceptance of this Agreement and hold it until time of closing the transaction or termination of this Agreement. If Buyer fails for any reason to submit earnest money, Seller may terminate this Agreement. Earnest money shall be returned promptly in the event this offer is not accepted. If this offer is accepted and Buyer fails or refuses to close the transact io n legal cause, the earnest money shall be retained by Seller for damages the Seller has or will incur, and Seller retains all rights to seek other legal and equitable remedies. The Broker holding any earnest money is absolved from any responsibility to make payment to the Seller or Buyer unless the parties enter into a Mutual Release or a Court issues an Order for payment, except as permitted in 876 IAC 1 -1 -23 (release of earnest money). Upon notification that Buyer or Seller intends not to perform, Broker holding the earnest money may release the earnest money as provided in this Agreement. If no provision is made in this Agreement, Broker may send to Buyer and Seller notice of the disbursement by certified mail. If neither Buyer nor Seller enters into a mutual release or initiates litigation within sixty (60) days of the mailing date of the certified letter, Broker may release the earnest money to the party identified in the certified letter. Buyer and Seller agree to hold the B ker harmless from any liability, including attorney's fees and costs, for good faith disbursement of earnest oney in accordance with this Agreement and licensing regulations. M OD OF PAYMENT: (Check appropriate paragraph letter) A. CASH: The entire purchase price shall be paid in cash and no financing is required ❑ B. NEW MORTGAGE: Completion of this transaction shall be contingent upon th 's ability to obtain a O Conventional ❑ Insured Conventional ❑ FHA O VA Other: mortgage loan for % of purchase pric , p y le in not less than first original rate of interest not to exceed years, with an shall pay all costs of obtaining financing ,except °/ p m and not to exceed points. Buyer IN Page 1 of 7 (Purchase Agreement) ,m Produced with ZipFom@) by zipLogix 18070 Fifteen Mile Road, Fraser, Michigan 48026 www.zioLooix corn ea.zfx 59 6 61 6 2 6 6 65 66 67 68 69 70 71 72 73 74 75 76 77 78 79 80 81 82 83 84 85 86 87 88 89 90 91 92 93 94 95 96 97 98 99 100 101 102 103 104 105 106 107 108 109 110 111 112 113 114 115 116 117 118 119 120 121 122 123 124 125 Any inspections and charges which are required to be made and charged to Buyer or Seller by the lender, 0 FHA, VA, or mortgage insurer, shall be made and charged in accordance with their prevailing rules or regulations and shall supersede any provisions of this Agreement. 3 C. ASSUMPTION: (Attach Financing Addendum) 4 D. CONDITIONAL SALES CONTRACT: (Attach Flnanci g Addendum) E. OTHER METHOD OF PAYMENT: (Attach Financing Addendum) 6. TIME FOR OBTAINING FINANCING: Buyer agrees to make written application for any financing neces ary to complete this transaction or for approval to assume the unpaid balance of th existing mortgage within _ days after the acceptance of this Agreement and to make a diligent effort to D the lender's requirements to obtain financing in cooperation with the Broker and Seller. No more than /' days after acceptance of the Agreement shall be allowed for obtaining favorable written commitments) o mortgage assumption approval. If a commitment or approval is not obtained within the time specified above, this Agreement shall terminate unless an extension of time for this purpose is mutually agreed to in writing. 7. CLOSING; T closing of the sal elt "Closing Date ") shall be on or before s�3 ° /a-0y2 within days after , or ,whichever is later or this Agreement shall termin to unless an extension of time is mutually a �toinuwrlivting The closing fee charged by the title insurance company shall be paid by ❑ Buyer ❑ Seller Included in allowance, if provided. Notwithstanding terms to the contrary, the Parties agree that as a condition to closing, all funds delivered to the closing agent's escrow account be in such form that the closing agent shall be able to disburse in compliance with I.C. 27- 07 -3.7 et. seq.. Therefore, all funds from a single source of $10,000 or pwe shall be wired unconditionally to the closing agent's escrow account and all funds under $10:at 0 from gle source shall be good funds as so defined by statute. 8. POSSESSION: A. The possession of the Propert y be delivered to Buyer closing ❑within days after closing or ❑ on or before if closed. For each day Seller is entitled to possession after closing, Seller shall pay to Buyer at closing $ ,5--b - _V 0 per day. If Seller does not deliver gs ssion b the date required in the first sentence of this paragraph, Seller shall pay Buyer $ pa 00 y per day as liquidated damages until possession is delivered to Buyer; and Buyer shall have all other legal and equitable remedies available against the Seller. B. Maintenance of Property: Seller shall maintain the Property in its present condition until its possession is delivered to Buyer, subject to repairs in response to any inspection. Buyer may inspect the Property prior to closing to determine whether Seller has complied with this paragraph. Seller shall remove all debris and personal property not included in the sale. C. Casualty Loss: Risk of loss by damage or destruction to the Property prior to the closing shall be borne by Seller. In the event any damage or destruction is not fully repaired prior to closing, Buyer, at Buyer's option, may either (a) terminate this Agreement or (b) elect to close the transaction, in which event Seller's right to all real property insurance proceeds resulting from such damage or destruction shall be assigned in writing by Seller to Buyer. D. Utilities/Municipal Services: Seller shall pay for all municipal services and public utility charges through the day of possession. 9. SURVEY: Buyer shall rec ' e a (Check one) ❑ SURVEYOR LOCATION REPORT, which is a survey where comer markers are not s ❑ BOUNDARY SURVEY, which is a survey where comer markers of the Property are set prior to closing; AIVED, no survey unless required by lender; at (Check one) ❑ Buyer's expense ❑ Seller's expense ❑ Shared equally ❑ Included in allowance, if provided. The survey shall (1) be received prior to closing and certified as of a curre date, (2) be reasonably satisfactory to Buyer, (3) show the location of all improvements and yeasem nts, and ( 4) ow the flood zone designation of the Property. 10. FLOOD AREA/OBuyer may ❑ may not terminate this Agreement if the Property requires flood insurance. Buyer ❑ may not terminate this Agreement if the Property is subject to building or use limitations by reason of the location, which materially interfere with Buyer's intended use of the Property. 11. HOMEOWNER'S INSURANCE: Completion of this transaction shall be contingent upon the Buyer's ability to obtain a favorable written commitment for homeowner's insurance within_ days after acceptance of this Agreement. 12. ENVIRONMENTAL CONTAMINANTS ADVISORY/RELEASE: Buyer and Seller acknowledge that Listing Broker, Selling Broker and all salespersons associated with Brokers are NOT experts and have NO special training, knowledge or experience with regard to the evaluation or existence of possible lead -based paint, radon, mold and other biological contaminants ( "Environmental Contaminants ") which might exist and affect the Property. Environmental Contaminants at harmful levels may cause property damage and serious illness, including but not limited to, allergic and /or respiratory problems, particularly in persons with immune system problems, young children and/or the elderly. ._ p o ��M a •4 JT f Q. AJ Ya6l$ Page 2 of 7 (Purchase Agreement) ` Produced with ZipFomS by zipLogix 18070 Fifteen Mile Road, Fraser, Michigan 48026 www.zit)Loaix.com Jl aa.zrx 126 127 128 129 130 131 132 133 134 135 136 137 138 139 140 141 142 143 144 145 146 147 148 149 150 151 152 153 154 155 156 157 158 159 160 161 162 163 164 165 166 167 168 169 170 171 172 173 174 175 176 177 178 179 180 181 182 183 184 185 186 187 188 189 190 191 Buyer is STRONGLY ADVISED to obtain inspections (see below) to fully determine the condition of the Property and its environmental status. The ONLY way to determine if Environmental Contaminants are present at the Property at harmful levels is through inspections. Buyer and Seller agree to consult with appropriate experts and accept all risks for Environmental Contaminants and release and hold harmless all Brokers, their companies and sales associates from any and all liability, including attorney's fees and costs, arising out of or related to any inspection, Inspection result, repair, disclosed defect or deficiency affecting the Property, including Environmental Contaminants. This release shall survive the closing. 13. INSPECTIONS: (Check paragraph letter A or B) Buyer has been made aware that independent inspections disclosing the condition of the property are available and has been afforded the opportunity to require such inspections as a condition of this Agreement. ❑ A. BUYER WAIVES THE RIGHT TO HAVE INDEPENDENT INSPECTIONS Buyer WAIVES inspections and relies upon the condition of the Property based upon Buyer's own examination and releases the Seller, the Listing and Selling Brokers and all salespersons associated with /SBUYER kers from any and all liability relating to any defect or deficiency affecting the Property, which release ll survive the closing. Required FHA/VA or lender inspections are not included in this waiver. RESERVES THE RIGHT TO HAVE INDEPENDENT INSPECTIONS (including Lead -Based Paint) Buyer reserves the right to have independent inspections in addition to any inspection required by FHA, VA, or Buyer's lender(s). All inspections are at Buyer's expense (unless noted otherwise or required by lender) by licensed independent inspectors or qualified independent contractors selected by Buyer within the following time periods. Seller shall have water, gas, electricity and all operable pilot lights on for Buyer's inspections. INSPECTION/RESPONSE PERIOD: Buyer shall order al i ependent inspections immediately after acceptance of the Purchase Agreement. Buyer shall have days beginning the day following the date of acceptance of the Purchase Agreement to respond to the inspection report(s) in writing to Seller (see "Buyer's Inspection Response "). Inspections may include but are not limited to the condition of the following systems and components: heating, cooling, electrical, plumbing, roof, walls, ceilings, floors, foundation, basement, crawl space, well/septic, water, wood destroying insects and organisms, lead -based paint (note: intact lead -based paint that is in good condition is not necessarily a hazard), radon, mold and other biological contaminants and/or the following: If the initial inspection report reveals the presence of lead -based paint, radon, mold and other biological contaminants, or any other condition that requires further examination or testing, then Buyer shall have additional days to order, receive and respond in writing to any additional reports. If the Buyer does not comply with any Inspection/Response Period or make a written objection to any problem revealed in a report within the applicable Inspection/Response Period, the Property shall be deemed to be acceptable. If one party fails to respond or request in writing an extension of time to respond to the other party's Independent Inspection Response, then that inspection response is accepted. A timely request for extension is not an acceptance of the inspection response, whether or not granted. A REASONABLE TIME PERIOD TO RESPOND IS REQUIRED TO PREVENT MISUSE OF THIS ACCEPTANCE PROVISION. Factors considered in determining reasonable time periods include, but are not limited to, availability of responding party to respond, type and expense of repairs requested and need of responding party to obtain additional opinions to formulate a response. If the Buyer reasonably believes that the Inspection Report reveals a MAJOR DEFECT with the Property and the Seller is unable or unwilling to remedy the defect to the Buyer's reasonable satisfaction before closing (or at a time otherwise agreed to by the parties), then Buyer may terminate this Agreement or waive such defect and the transaction shall proceed toward closing. Under Indiana law, "Defect" means a 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 Property, or that if not repaired, removed, or replaced would significantly shorten or adversely affect the expected normal life of the premises. BUYER AGREES THAT ANY PROPERTY DEFECT PREVIOUSLY DISCLOSED BY SELLER, OR ROUTINE MAINTENANCE AND 6 d s C 'CLAP s,; s-r - J,-0. ,N y6 6,100 Page 3 of 7 (Purchase Agreement) Produced with ZipForm@ by zipLogix 18070 Fifteen Mile Road, Fraser, Michigan 48026 www.zioLoaix.com aa.zfx 192 MINOR REPAIR ITEMS MENTIONED IN ANY REPORT, SHALL NOT BE A BASIS FOR TERMINATION OF 193 THIS AGREEMENT. 194 195 14. LIMITVanowledges ME WARRANTY PROGRAM: 196 Buyer the. availability of a LIMITED HOM WARRANTY PROGRAM with a deductible paid byy�� er 197 which ll ❑ will not be provided at a cost of $ � charged to ❑ Buyer Milan 198 Buyer and Seller acknowledge this LIMITED HOME WARRANTY PROGRAM will not cover any pre- existing 199 defects in the Property nor replace the need for an independent home inspection. Broker may receive a fee from 200 the home warranty provider and/or a member benefit. 201 202 15. DISCLOSURES: (Coe) 203 1. Buyer ❑ has VWhawl of ❑ not appli cable received and executed SELLER'S RESIDENTIAL REAL ESTATE 204 SALES DISCLOSU205 2. Buyer ❑ has ot ❑ not applicable received and executed a AD -BASED PAINT CERTIFICATION 206 AND ACKNOWLEDGMENT. 207 208 16. TITLE APPROVAL: Prior to closing, Buyer shall be furnished with title insurance commitment for the most 209 current and comprehensive ALTA Owner's Title Insurance Policy available in the amount of the purchase 210 price or ❑ an abstract of title continued to date, showing marketable title to Property in Seller's name. Seller 211 must convey title free and clear of any encumbrances and title defects, with the exception of any mortgage 212 assumed by Buyer and any restrictions or easements of record not materially interfering with Buyer's intended use 213 of the Property. A title company, at Buyer's request, can provide information about availability of various additional 214 title insurance coverages and endorsem=eller the associated costs. 215 216 Owner's Policy to be paid by El Buyer ❑ Shared equally ❑ Included in allowance, if provided. 217 218 Lender's Policy, if applicable, to be paid by ❑ Buyer ❑ Seller ❑ Shared equally ❑ Included in allowance, if 219 provided. ❑ Other A6P �✓« vy j 220 221 222 The parties agree that Sell Buyer will select a title insurance company to issue a title insurance policy and 223 will order the commitment mmediately or ❑ other: 224 225 226 Pursuant to Federal and State law, Seller cannot make Seller's selection of a title insurance provider a condition of 227 this Agreement. 228 229 Seller agrees to pay the cost of obtaining all other documents necessary to perfect title (including the cost of the 230 deed and vendors affidavit), so that marketable title can be conveyed. 231 232 17. TAXES: (Check paragraph A, B or C) 233 ❑ A. Buyer will assume and p all taxes on the Property beginning with the taxes due and payable on 234 N !'T, , and all taxes due thereafter. At or before closing, Seller shall pay all 235 tolves for the Property payable before that date. 236 237 B. All taxes that have accrued for any prior calendar year that remain unpaid shall be paid by Seller either to 238 the County Treasurer and /or the Buyer in the form of a credit at closing. All taxes that have accrued for the 239 current calendar year shall be prorated on a calendar -year basis as of the day immediately prior to the 240 Closing Date. 241 242 For purposes of paragraph A and B: For the purpose of determining the credit amount for accrued but unpaid 243 taxes, taxes shall be assumed to be the same as the most recent year when taxes were billed based upon certified 244 tax rates. This shall be a final settlement. 245 246 ❑ C. FOR RECE ONSTRUCTION OR OTHER TAX SITUATIONS. Seller will give a tax credit of 247 $ to Buyer at closing. This shall be a final settlement. 248 249 WARNING: The succeeding year tax bill for recently constructed homes or following reassessment periods 250 may greatly exceed the last tax bill available to the closing agent. 251 252 Buyer acknowledges Seller's tax exemptions and/or credits may not be reflected on future tax bills. 253 254 Buyer may apply for current -year exemptions/credits at or after closing. (Property Address) el Page 4 of 7 (Purchase Agreement) Produced with ZipForn* by zipLogix 18070 Fifteen Mile Road, Fraser, Michigan 48026 tanEzioLoaix.com aa.zfx 255 18. PRORATIONS AND SPECIAL ASSESSMENTS: Insurance, if assigned to Buyer, interest on any debt assumed or 256 taken subject to, any rents, all other income and ordinary operating expenses of the Property, including but not 257 limited to, public utility charges, shall be prorated as of the day immediately prior to the Closing Date. Seller shall 258 pay any special assessments applicable to the Property for municipal improvements previously made to benefit the 259 Property. Seller warrants that Seller has no knowledge of any planned improvements which may result in 260 assessments and that no governmental or private agency has served notice requiring repairs, alterations or 261 corrections of any existing conditions. Public or municipal improvements which are not completed as of the date 262 above but which will result in a lien or charge shall be paid by Buyer. Buyer will assume and pay all special 263 assessments for municipal improvements completed after the date of this Agreement. 264 265 19. TIME: Time is of the essence. Time periods specified in this Agreement and any subsequent Addenda to the 266 Purchase Agreement are calendar days and shall expire at 11:59 PM of the date stated unless the parties agree in 267 writing to a different date and/or time. 268 269 Note: Seller and Buyer have the right to withdraw any offer /counter offer prior to written acceptance and 270 delivery of such offer /counter offer. 271 272 20. HOMEOWNERS ASSOCIATIOWCONDOMINIUM ASSOC I 71,0% Documents for a mandatory membership 273 association shall be delivered by the Seller to Buyer within ays after acceptance of this Agreement. If the 274 Buyer does not make a written response to the documents within —M days after receipt, the documents shall 275 be deemed acceptable. In the event the Buyer does not accept the provisions in the documents and such 276 provisions cannot be waived, this Agreement may be terminated by the Buyer and the earnest money deposit shall 277 be refunded to B� promptly. Any approval of sale required by the Association shall be obtained by the Seller, in 278 writing, within days after Buyer's approval of the documents. 279 Buyer acknow gas that In every neighborhood there are conditions which others may find objectionable. 280 Buyer shall therefore be responsible to become fully acquainted with neighborhood and other off -site 281 conditions that could affect the Property. 282 283 21. ATTORNEY'S FEES: Any party to this Agreement who is the prevailing party in any legal or equitable proceeding 284 against any other party brought under or with relation to the Agreement or transaction shall be additionally entitled 285 to recover court costs and reasonable attorney's fees from the non - prevailing party. 286 287 22. MISCELLANEOUS: 288 289 A. Unless otherwise provided, any prorations for rent, taxes, insurance, damage deposits, association 290 dues /assessments, or any other items shall be computed as of the day immediately prior to the Closing Date. 291 292 B. Underground mining has occurred in Indiana, and Buyers are advised of the availability of subsidence 293 insurance. 294 295 C. The Indiana Sheriffs Sex Offender Registry (www.indianasheriffs.org) exists to inform the public about the 296 identity, location and appearance of sex offenders residing within Indiana. Broker is not responsible for 297 providing or verifying this information. 298 299 D. Conveyance of this Property shall be by general Warranty Deed, or by 300 subject to taxes, easements, restrictive covenants and encumbrances of record, unless otherwise agreed. 301 302 E. Seller represents and warrants that Seller is not a "foreign person" (individual entity) and, therefore, is not 303 subject to the Foreign Investment in Real Property Tax Act. 304 305 F. Any notice required or permitted to be delivered shall be deemed received when personally delivered, 306 transmitted electronically or digitally or sent by express courier or United States mail, postage prepaid, 307 certified and return receipt requested, addressed to Seller or Buyer or the designated agent of either party. 308 309 G. This Agreement shall be construed under and in accordance with the laws of the State of Indiana and is 310 binding upon the parties' respective heirs, executors, administrators, legal representatives, successors, and 311 assigns. 312 313 H. In case any provision contained in this Agreement is held invalid, illegal, or unenforceable in any respect, the 314 invalidity, illegality, or unenforceability shall not affect any other provision of this Agreement. 315 316 I. This Agreement constitutes the sole and only agreement of the parties and supersedes any prior 317 understandings or written or oral agreements between the parties' respecting the transaction and cannot be 318 changed except by their written consent. 319 320 J. All rights, duties and obligations of the parties shall survive the passing of title to, or an interest in, the 321 Property. o v,y. !4 J-T• % 6 6 (Property Address) Page 5 of 7 (Purchase Agreement) Produced with ZipForm®by zipLogix 18070 Fifteen Mile Road, Fraser, Michigan 48026 www.zipLoaix.com aa.zfx 322 K. Broker(s) may refer Buyer or Seller to other professionals, service providers or product vendors, including 323 lenders, loan brokers, title insurers, escrow companies, inspectors, pest control companies, contractors and 324 home warranty companies. Broker(s) does not guarantee the performance of any service provider. Buyer and 325 Seller are free to select providers other than those referred or recommended to them by Broker(s). 326 327 L. By signing below, the parties to this transaction acknowledge receipt of a copy of this Agreement and give 328 their permission to a multiple listing service, Internet or other advertising media, if any, to publish information 329 regarding this transaction. 330 331 M. Any amounts payable by one parry to the other, or by one parry on behalf of the other parry, shall not be owed 332 until this transaction is closed. 333 334 N. Buyer and Seller consent to receive communications from Broker(s) via telephone, U.S. mail, email and 335 facsimile at the numbers/addresses provided to Broker(s) unless Buyer and Seller notify Broker(s) in writing 336 to the contrary. 337 338 O. Buyer discloses to Seller that Buyer holds Indiana Real Estate License # 339 340 P. Where the word "Broker" appears, it shall mean "Licensee" as provided in I.C.25- 34.1- 10 -6.8. 341 342 23. FURTHER CONDITIONS (List and attach any addenda): 343 344 345 346 347 348 349 350 351 352 353 354 355 356 357 358 24. CONSULT YOUR ADVISORS: Buyer and Seller acknowledge they have been advised that, prior to signing this 359 document, they may seek the advice of an attorney for the legal or tax consequences of this document and the 360 transaction to which it relates. In any real estate transaction, it is recommended that you consult with a 361 professional, such as a civil engineer, environmental engineer, or other person, with experience in evaluating the 362 condition of the Property. 363 364 25. ACKNOWLEDGEMENTS: Buyer and Seller acknowledge that each has received agency office policy disclosures, 365 has had agency explained, and now confirms all agency relationships. Buyer and Seller further acknowledge that 366 they understand and accept agency relationships involved in this transaction. By signature below, the parties verify 367 that they understand and approve this Purchase Agreement and acknowledge receipt of a signed copy. 368 Ll'P 369 26. EXPIRATION OF OFFER: Unless acceppte by Seller and delivered to Buyer by S- '�� ❑ A.M. M. 370 ❑ Noon, the // day of /jO; -,l C a/� , this Purchase Agreement shall be null and void and all 371 parties shall be relieved of any and all liability of r obligations. 372 373 This Agreement may be executed simultaneously or in two or more counterparts, each of which shall be deemed 374 an original but all of which together shall constitute one and the same instrument. The parties agree that this 375 Agreement may be transmitted between them electronically or digitally. The parties intend that electronically or 376 digitally transmitted signatures constitute original signatures and are binding on the parties. The original document 377 shall be promptly delivered, if requested. Page 6 of 7 (Purchase Agreement) Produced with ZipForm® by zipLogix 18070 Fifteen Mile Road, Fraser, Michigan 48026 www.zipLooix.com M aa.zfx 378y-6 379 Y SIGNATURE DATE BUYER'S SIGNATURE 38 DATE r I 381 1 382 383 PRINTED 384 27. SELLER'S RESPONSE: (Check appropriate paragraph letter): 385 386 This day of , at 387 ❑ A.M. E] P.M. ❑ Noon 388 ❑ A. The above offer Is Accepted. 389 390 ❑ B. The above offer is Rejected. 391 XC. urchase Agree 392 The above offer is Countered. See Counter Offer. Seller should sign both the Pment and 393 the Counter Offer. 394 395 396 397 SELLER'S SIGNATURE DATE SELLER'S SIGNATURE DATE 398 399 400 PRINTED PRINTED ,' Approved by and restricted to use by members of the Indiana Association of REALTORS®, Inc. This is a legally binding contract, if not understood seek legal advice. Form *02. Copyright IAR 2010 r y. rf� - Page 7 of 7 (Purchase Agreement) Produced with ZipFormS by zipLogix 18070 Fifteen Mile Road, Fraser, Michigan 48026 www.zipLouix.com Qri �a aa.zfx COUNTER OFFER # 4-1 1 n ❑ A.M. ❑ P.M. X 2 i��� /L 3 The undersigned makes the following Counter Offer to the Purchase Agreement dated of 4 concerning property commonly known as 6 o % COIL-'V614 bl4 5-rp ee,T 5 in P 0g -A f, 6- Township, 3 A ti T J's spy County, SQL, TN /3E"✓o 6 Indiana between: SOL, --v '3 +Q FC OAJPmlc �d v ��op sn Q•-,T as Seller(s) 7 and TL,,4 NR M,5,4-4 L-4-7 S as Buyer(s). 8 g C P1 af,5 e t.0— Opt? v10 o ¢ cc -t cot wrt f r.0 11 'n.1 dYtt a et ci �r 8000 Al 4C C 2Q-" e d fo - y —a0 /-Z 12 C.. 5"'0o PM. 13 14 15� 16 17 18 19 20 21 22 23 24 25 Note: Seller and Buyer have the right to withdraw any offer /counter offer prior to written acceptance and delivery of such 26 offer /counter offer. 27 All other terms and conditions of the Purchase Agreement and all previous Counter Offers shall remain in effect except 28 as modified by this Counter Offer. 29 30 This Counter Offer # is void if not accepted in writing on or before ° ° ❑ A.M. P.M. ❑ Noon 31 on 32 33 33 This Agreement may be executed simultaneously or in two or more counterparts, each of which shall be deemed an original, but 34 all of which together shall constitute one and the same instrument. The parties agree that this Agreement may be transmitted 35 between them by facsimile machine. The parties intend that faxed signatures constitute original signatures and are binding on the 36 parties. The original document shall be promptly delivered, if requested. 37 X 38 X 39 YSELLER ❑ BUYER SIGNATURE DATE []SELLER ❑ BUYER SIGNATURE DATE 40 41 X 42 PRINTED PRINTED 43 RESPONSE TO COUNTER OFFER # 44 45 The above Counter Offer # is ❑ Accepted ❑ Countered ❑ Rejected at ❑ A.M. ❑ P.M. ❑ Noon 46 on Receipt of a signed copy of this Counter Offer is acknowledged. 47 48 49 ❑ SELLER ❑ BUYER SIGNATURE DATE ❑ SELLER ❑ BUYER SIGNATURE DATE 50 51 52 PRINTED PRINTED Approved by and restricted to use by members of the Indiana Association of REALTORS®, Inc. This is a legally binding contract, if not understood seek legal advice. Form #16A. Copyright© IAR 2008 orrottuwnr AA.zfx Produced with ZipFormTM by RE FormsNet, LLC 18025 Fifteen Mile Road, Clinton Township, Michigan 48035 www.zioform.com