HomeMy WebLinkAbout6B1o45Vv I� /a
Department of
Community
ieu
Memorandum
May 30, 2013
TO: Redevelopment Commission
FROM: David Relos, Economic Resources
SUBJECT: 620 Columbia Purchase Offer
Investment
U-b., i,
This is the remaining property of five Monroe Park HDC houses that went through the
disposition process in June 2011, and were listed for sale in September 2011.
This particular property is a two story, 1,174 sf house. It has been converted to two
apartments, with the stairway between the floors removed. There is no inside basement
access. Both factors make it very difficult to sell to an owner occupant. The average
appraised value of the property was determined to be $17,000.
The previous four houses sold had an average appraised value of $15,500 to $27,000, with
an average of $21,250. Two of these four were sold for $5,000, one for $8,000, and one
for $10,000.
Most of these houses have sat empty for years, have deferred maintenance issues, and in
some cases have been broken into and vandalized. This particular property needs a new
roof, water heaters, and has only one working furnace.
Recently a purchase offer of $7,200 was received for this property.
Staff requests approval of this Purchase Offer and to move forward with its closing.
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n opine PURCHASE AGREEMENT
WA10W WC (IMPROVED PROPERTY)
1 Date:l ay 17. 2013
2
3 A. BUYER: 8 n ( "Buyer")
4 agrees to uy a owing property m the owner e r e consideration and subject to the following
5 terms, provisions, and conditions:
6
7 B. PROPERTY: The property ( "Property") is known as 620 Columbia street
8 in PORTAGE Township, Saint Joseph unty, South Bs_++d
9 Indiana, a66oi (zip code) legally described as: LOT 8 .z anrnra 7 r++r 8 nag .T.s MM CO
10 DZNNISTM
11 together with any existing permanent improvements and res atta (unless or excluded), including,
12 but not limited to, electrical and/or gas fixtures, home heating fuel, heating and central air-conditioning equipment
13 and all attachments thereto, built-in kitchen equipment, sump pumps, water softener, water purifier, gas grills,
14 fireplace inserts, gas logs and grates, central vacuum equipment, window shadestblinds, curtain rods, drapery poles
15 and fixtures, ceiling fans and light fixtures, towel racks and bars, storm doors, windows, awnings, TV antennas,
16 satellite dishes and controls, storage bams, all landscaping, mailbox, garage door opener with controls AND THE
17 FOLLOWING: ref riaerator / 2 stows in apartments
18
19
20
21
22 EXCLUDES THE FO I
23
24 The terms of this Agreement will determine what Items are includedlexcluded. All Items sold shall be fully
25 paid for by Seller at time of closing the transaction. Buyer should verify total square footage, land, room
26 dimensions or community amenities If material.
27
28 C. PRICE: Buyer will pay the total purchase price of ($ 7.200.00 )
29 Eundred Dollars for the roperty. i uyer obis ns an
30 appraisal of the Property, this Agreement is contingent upon the Property appraising at no less than the agreed
31 upon purchase price-
32
33 D. EARNEST MONEY: Buyer submits $ 1.000.00 as earnest money which shall be applied to the
34 purchase price. The listing broker shall deposit earnest money received into its escrow account within two (2)
35 banking days of acceptance of this Agreement and hold it until time of closing the transaction or termination of this
36 Agreement If Buyer fails for any reason to submit earnest money, Seller may terminate this Agreement
37 Earnest money shall be retumed promptly in the event this offer is not accepted. If this offer is accepted and Buyer
38 fails or refuses to dose the transact ion, without legal ruse, the earnest money shall be retained by Seller for
39 damages the Seller has or will incur, and Seller retains all rights to seek other legal and equitable remedies. The
40 Broker holding any eamest money is absolved from any responsibility to make payment to the Seller or Buyer
41 unless the parties enter into a Mutual Release or a Court issues an Order for payment, except as permitted in 876
42 IAC 1 -1 -23 (release of earnest money). Upon notification that Buyer or Seller intends not to perform. Broker holding
43 the eamest money may release the earnest money as provided in this Agreement If no provision is made in this
44 Agreement, Broker may send to Buyer and Seller notice of the disbursement by certified mail. If neither Buyer
45 nor Seller enters into a mutual release or initiates litigation within sixty (60) days of the mailing date of the certified
46 letter, Broker may release the earnest money to the party identified in the certified letter. Buyer and Seller agree to
47 hold the Broker harmless from any liability, including attorney's fees and costs, for good faith disbursement of
48 samest money in accordance with this Agreement and licensing regulations.
49
50 E. METHOD OF PAYMENT: (Check appropriate paragraph number)
51 1. ® CASH: The entire purchase price shall be paid in cash and no financing is required.
52 2. ❑ NEW MORTGAGE: Completion of this transaction shall be contingent upon the Buyer's ability to obtain a
53
54 ❑ Conventional ❑ Insured Conventional ❑ FHA ❑ VA ❑ Other. first
55 mortgage loan for % of purchase price, payable in not less than years, with an
56 original rate of interest not to exceed % per annum and not to exceed points. Buyer
57 shall pay all costs of obtaining financing, except
58
59
620 Columbia Street. South Hand. 46601
Page 1 of 7 (Purchase Agreement)
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60 Any inspections and charges which are required to be made and charged to Buyer or Seller by the lender,
61 FHA, VA, or mortgage insurer, shall be made and charged in accordance with their prevailing rules or
62 regulations and shall supersede any provisions of this Agreement.
63
64 3. E3 ASSUMPTION: (Attach Financing Addendum)
65 4. ❑ CONDITIONAL SALES CONTRACT: (Attach Financing Addendum)
66 5. ❑ OTHER METHOD OF PAYMENT: (Attach Financing Addendum)
67
68 F. TIME FOR OBTAINING FINANCING. Buyer agrees to make written application for any financing necessary
69 to complete this transaction or for approval to assume the unpaid balance of the existing mortgage within _-_Q__
70 days after the acceptance of this Agreement and to make a diligent effort to meet the lender's requirements and to
71 obtain financing in cooperation with the Broker and Seller. No more than 0 days after acceptance of the
72 Agreement shall be allowed for obtaining favorable written commitment(s) or mortgage assumption approval. If a
73 commitment or approval is not obtained within the time specified above, this Agreement shall terminate unless an
74 extension of time for this purpose is mutually agreed to in writing.
75
76 G. CLOSING: The dosing of the sale (the "Closing Date") shall be on or before June 29. 2013 or
77 within days after , whichever is later or this Agreement
78 shall termnate unless an extension of time is mutually agreed to in iWWn`gAny dosing date earlier than the latest
79 date above must be by mutual written agreement of the parties. The settlement or dosing fee incurred in
80 conducting the settlement charged by the dosing agent or company shall be paid by ❑ Buyer (included in
81 allowance, if provided) ❑ Seller ® Shared equally.
82
83 This Agreement ® Is not contingent upon the dosing of another transaction; ❑ Is contingent upon the closing of
84 the pending transaction on the property located at
85 scheduled to dose by
86
87 Notwithstanding terms to the contrary, the Parties agree that as a condition to closing, all funds delivered to the
88 closing agent's escrow account be in such form that the closing agent shall be able to disburse in compliance with
89 I.C. 27 -07 -3.7 et. seq.. Therefore, all funds from a single source of $10,000 or more shall be wired unconditionally
90 to the dosing agent's escrow account and all funds under $10,000 from a single source shall be good funds as
91 so defined by statute.
92
93 H. POSSESSION:
94 1. The possession of the Property shall be delivered to Buyer ® at closing ❑ within days beginning
95 the day after closing by ❑ a.m. ❑ p.m. ❑ noon or [3 on or before
96 if closed. For each day Seller is entitled to possession after closing, Seller shall pay to Buyer at dosing
97 $ per day. If Seller does not deliver possession by the date and time required in the first
98 sentence of this paragraph, Seller shall pay Buyer $ per day as liquidated damages
99 until possession is delivered to Buyer, and Buyers all have a o r legal and equitable remedies available
100 against the Seller.
101 2. Maintenance of Property: Seller shall maintain the Property in its present condition until its possession is
102 delivered to Buyer, subject to repairs in response to any inspection. Buyer may inspect the Property prior to
103 closing to determine whether Seller has complied with this paragraph. Seller shall remove all debris and
104 personal property not included in the sale.
105 3. Casually Lou: Risk of loss by damage or destruction to the Property prior to the dosing shall be borne by
106 Seller, including any deductible(s). In the event any damage or destruction is not fully repaired prior to dosing,
107 Buyer, at Buyer's option, may either (a) terminate this Agreement with prompt return of earnest money to
108 buyer or (b) elect to close the transaction, in which event Seller's right to all real property insurance
109 proceeds resulting from such damage or destruction shall be assigned in writing by Seller to Buyer.
110 4. UtilkleslMunicipal Services: Seller shall pay for all municipal services and public utility charges through the
111 day of possession.
112
113 1. SURVEY: Buyer shall receive a (Check one) ❑ SURVEYOR LOCATION REPORT, which is a survey where
114 comer markers are not set; ❑ BOUNDARY SURVEY, which is a survey where comer markers of the Property are
115 set prior to closing; ® WANED, no survey unless required by lender, at (Check one) ❑ Buyers expense
116 (included in allowance, k provided) C3 Selleft expense ❑ Shared equally. The survey shall (1) be received
117 prior to closing and certified as of a current date, 2( ) be reasonably satisfactory to Buyer, (3) show the location of all
118 improvements and easements, and (4) show the flood zone designation of the Property. If Buyer waives the right to
119 conduct a survey, the Seller, the Listing and Selling Brokers, and all salespersons associated with Brokers are
120 released from any and all liability relating to any issues that could have been discovered by a survey. This release
121 shall survive the dosing.
122
123 J. FLOOD AREA/OTHER: Buyer ❑ may ® may not terminate this Agreement If the Property requires flood
124 insurance. Buyer ❑ may ® may not terminate this Agreement if the Property is subject to building or use
125 limitations by reason of the location, which materially interfere with Buyer's intended use of the Property.
620 Columbia Sthaet. South -Bend. 46601
( roperly rose - --
Page 2 of 7 (Purchase Agreement)
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126 K HOMEOWNER'S INSURANCE: Completion of this transaction shall be contingent upon the Buyer's ability to obtain
127 a favorable written commitment for homeowner's insurance within 10 days after acceptance of this Agreement
128
129 L. ENVIRONMENTAL CONTAMINANTS ADVISORYIRELEASE: Buyer and Seller acknowledge that Listing Broker,
130 Selling Broker and all salespersons associated with Brokers are NOT experts and have NO special training,
131 knowledge or experience with regard to the evaluation or existence of possible lead -based paint, radon, mold and
132 other biological contaminants ("Environmental Contaminants ") which might exist and affect the Property.
133 Environmental Contaminants at harmful levels may cause property damage and serious illness, including but not
134 limited to, allergic and/or respiratory problems, particularly in persons with immune system problems, young
135 children and/or the elderly.
136
137 Buyer is STRONGLY ADVISED to obtain inspections (see below) to fully determine the condition of the Property
138 and its environmental status. The ONLY way to determine if Environmental Contaminants are present at the
139 Property at harmful levels is through inspections.
140
141 Buyer and Seller agree to consult with appropriate experts and accept all risks for Environmental
142 Contaminants and release and hold harmless all Brokers, their companies and sales associates from any
143 and all liability, including attorneys fees and costs, arising out of or related to any inspection, Inspection
144 result, repair, disclosed defect or deficiency affecting the Property, including Environmental Contaminants.
145 This release shall survive the closing.
146
147 M. INSPECTIONS: (Check paragraph t or 2)
148
149 Buyer has been made aware that independent inspections disclosing the condition of the property are available
150 and has been afforded the opportunity to require such inspections as a condition of this Agreement
151
152 1. ® BUYER WAIVES THE RIGHT TO HAVE INDEPENDENT INSPECTIONS
153 Buyer WAIVES inspections and relies upon the condition of the Property based upon Buyer's own
154 examination and releases the Seller, the Listing and Selling Brokers and all salespersons associated with
155 Brokers from any and all liability relating to any defeat or deficiency affecting the Property, which release
156
157 shall survive the closing. Required FHAIVA or lender inspections are not included in this waiver.
158
159 2. ❑ BUYER RESERVES THE RIGHT TO HAVE INDEPENDENT INSPECTIONS (including Lead-Based Paint)
160 Buyer reserves the right to have independent inspections in addition to any inspection required by FHA, VA,
161 or Buyer's lender(s). All inspections are at Buyer's expense (unless rated otherwise or required by lender) by
162 licensed independent inspectors or qualified independent contractors selected by Buyer within the following
163 time periods. Seller shall have water, gas, electricity and all operable pilot lights on for Buyer's
164 inspections. Seller must make all areas of the Property available and accessible for Buyer's
165 inspection.
166
167 INSPECTIONIRESPONSE PERIOD: Buyer shall order all independent inspections irtsnediately after
168 acceptance of the Purchase Agreement. Buyer shall have days beginning the day following the date
169 of acceptance of the Purchase Agreement to respond to the inspection report(s) in writing to Seller (see
170 "Buyer's Inspection Response ").
171
172 Inspections may include but are not limited to the condition of the following systems and components:
173 heating, cooling, electrical, plumbing, roof, walls, ceilings, floors, foundation, basement, crawl space,
174 we]Vseptic, water, wood destroying insects and organisms, Lead -based paint (note: intact lead -based paint
175 that is in good condition is not necessarily a hazard), radon, mold and other biological contaminants and/or
176 the following:
177
178
179 If the initial inspection report reveals the presence of lead -based paint, radon, moll and other biological
180 contaminants, or any other condition that requires further examination or testing, than Buyer shall have
181 additional days to order, receive and respond in writing to any additional reports.
182
183 If the Buyer does not comply with any InspectioNResponse Period or make a written objection to any
184 problem revealed in a report wlthin the applicabis InspectioNResporrse Period, tM Property shall be
185 deemed to be acceptable. lt one party Nils to respond or request In wolfing an extension of time to
186 respond to the other party's Independent Inspection Response, then that inspection response Is
187 accepted. A timely request for extension is rat an acceptance of the inspection response, whether or not
188 granted. A REASONABLE TIME PERIOD TO RESPOND IS REQUIRED TO PREVENT MISUSE OF THIS
189 ACCEPTANCE PROVISION. Factors considered in determining reasonable time periods include, but are
190 not limited to, availability of responding party to respond, type and expense of repairs requested and need of
191 responding party to obtain additional opinions to forrbulate a response.
620 Columbia Stsaet. South Band. 46601
Page 3 of 7 (Purchase Agreement)
Produced w8h ZgFonne by zlpLogix 18070 Frbeen Mae Road, Fraser, Michigan 480Y8 men n0LQgg g= 620 Columbia
192 If the Buyer reasonably believes that the Inspection Report reveals a DEFECT with the Property (under
193 Indiana law, "Defect" means a condition that would have a significant adverse effect on the value of the
194 Property, that would significantly impair the health or safety of future occupants of the Property, or that if not
195 repaired, removed, or replaced would significantly shorten or adversely affect the expected normal life of the
198 premises), and the Seller is unable or unwilling to remedy the defect to the Buyers reasonable satisfaction
197 before closing (or at a time otherwise agreed to by the parties), then Buyer may terminate this Agreement or
198 PROPERTY DE ECT transaction proceed EL ER closing. BUYER MAINTENANCE AND
199
200 MINOR REPAIR ITEMS MENTIONED IN ANY REPORT, SHALL NOT BE A BASIS FOR TERMINATION OF
Y01 THIS AGREEMENT.
202
203 N. LIMITED HOME WARRANTY PROGRAM:
204 Buyer acknowledges the availability of a LIMITED HOME WARRANTY PROGRAM with a deductible paid b Buyer
205 which O will ® will not be provided at a cost not to exceed $ char to ❑ Buyer E Seller
206 and ordered by O Buyer ❑ Seller. Buyer and Seller acknowledge this LIMITED HOME WARRANTY PROGRAM
207 may not cover any pre - existing defects in the Property nor replace the reed for an independent home inspection.
208 Broker may receive a fee from the home warranty provider and/or a member benefit. The Limited Home Warranty
209 Program is a contract between Buyer/Seller and the Home Warranty Provider. The Parties agree that Brokers and
210 their companies shall be released and held harmless in the event of claims disputes with the Home Warranty
211 Provider.
212
213 O. DISCLOSURES: (Check one)
214 1. Buyer O has O has not ® not applicable received and executed SELLER'S RESIDENTIAL REAL ESTATE
215 SALES DISCLOSURE.
216 2. Buyer O has O has not ® not applicable received and executed a LEAD -BASED PAINT CERTIFICATION
217 AND ACKNOWLEDGMENT.
218
219 P. TITLE APPROVAL: Prior to dosing, Buyer shall be furnished with M a title insurance commitment for the most
220 current and comprehensive ALTA Owners Title Insurance Policy available in the amount of the purchase
221 price or O an abstract of title continued to date, showing marketable title to Property in Sellers name. Seller
222 must convey title free and dear of any encumbrances and tide defects, with the exception of any mortgage
223 assumed by Buyer and any restrictions or easements of record not materially interfering with Buyers intended use
224 of the Property. A title company, at Buyers request, can provide information about availability of various additional
225 title insurance coverages and endorsements and the associated costs.
226
227 Owners Title Insurance Premium and that portion of Tide Service Fees incurred to prepare the Owners Policy
228 (including title search and examination and commitment preparation), to be paid by ❑ Buyer (included in
229 allowance, if provided) M Seller O Shared equally.
230
231 Lenders Title Insurance Premium and that portion of Title Service Fees incurred to prepare the Lenders Policy
232 (including title search and examination and commitment preparation), if applicable, to be paid by ® Buyer (included
233 in allowance, H provided) ❑ Seller O Shared equally O Other
234
235 The parties agree that 0 Seller U Buyer will select a title insurance company to Issue a title Insurance policy and
236 will order the commitment ® immediately or ❑ other.
237
238 Pursuant to Federal and State law, Seller cannot make Sellers selection of a title insurance provider a condition of
239 this Agreement.
240
241 Seller agrees to pay the cost of obtaining all other documents necessary to perfect title (including the cost of the
242 deed and vendors affidavit), so that marketable tide can be conveyed.
243
244 O. TAXES: (Check paragraph 1, 2 or 3)
245 ❑ 1. Buyer will assume and pay all taxes on the Property beginning with the taxes due and payable on
246 and all taxes due thereafter. At or before dosing, Seller shall pay all
247 taxes for the Property payable before that date.
248 ® 2. All taxes that have accrued for any prior calendar year that remain unpaid shall be paid by Seller either to
249 the County Treasurer and/or the Buyer in the forth of a credit at closing. All taxes that have accrued for the
250 current calendar year shall be prorated on a calendar -year basis as of the day immediately prior to the
251 Closing Date.
252
253 For purposes of paragraph 1 and 2: For the purpose of determining the credit amount for accrued but unpaid
254 taxes, taxes shall be assumed to be the same as the most recent year when taxes were billed based upon cerh(ied
255 tax rates. This shall be a final settlement.
256
257 O 3. FOR RECENT CONSTRUCTION OR OTHER TAX SITUATIONS. Seller will give a tax credit of
258 $ to Buyer at closing. This shall be a final settlerent.
fi20 Columh±& Street. South Rand. 45501
(PIO�Y ) - - -- --
Page 4 of 7 (Purchase Agreement)
Pm&ioep w8h apForm® by APO* 18070 FMW Mae Road, Fraser, Mkhigen 48028 let .{ b20 Columbia
259 WARNING: THE SUCCEEDING YEAR TAX BILL FOR RECENTLY CONSTRUCTED HOMES OR FOLLOWING
260 REASSESSMENT PERIODS MAY GREATLY EXCEED THE LAST TAX BILL AVAILABLE TO THE CLOSING AGENT.
261
262 Buyer acknowledges Seller's tax exemptions and/or credits may not be reflected on future tax bills.
263
264 Buyer may apply for current -year exemptions/credits at or after closing.
265
266 R. PRORATIONS AND SPECIAL ASSESSMENTS: Insurance, If assigned to Buyer, interest on any debt assumed or
267 taken subject to, any rents, all other income and ordinary operating expenses of the Property, including but not
268 limited to, public utility charges, shall be prorated as of the day immediately prior to the Closing Date. Seller shall
269 pay any special assessments applicable to the Property for municipal improvements previously made to benefit the
270 Property. Seller warrants that Seller has no knowledge of any planned improvements which may result in
271 assessments and that no governmental or private agency has served notice requiring repairs, alterations or
272 corrections of any existing conditions. Public or municipal improvements which are not completed as of the date
273 above but which will result in a lien or charge shall be paid by Buyer. Buyer will assume and pay all special
274 assessments for municipal improvements completed after the date of this Agreement.
275
276 S. TIME: Time is of the essence. Time periods specified in this Agreement and any subsequent Addenda to the
277 Purchase Agreement are calendar days and shall expire at 11:59 PM of the date stated unless the parties agree in
278 writing to a different date and/or time.
279
280 Note: Seller and Buyer have the right to withdraw any offer/counter offer prior to written acceptance and
281 delivery of such offer /counter offer.
282
283 T. HOMEOWNERS ASSOCIAT10MICONDOFMNIUM ASSOCIATION ("Assoclation "): Documents for a mandatory
284 membership association shall be delivered by the Seller to Buyer within days after acceptance of this
285 Agreement If the Buyer does not make a written response to the documents within days after receipt, the
286 documents shall be deemed acceptable. In the event the Buyer does not accept t resions in the documents
287 and such provisions cannot be waived, this Agreement may be terminated by the Buyer and the earnest money
288 deposit shall be refunded to Buyer promptly. Any approval of sale required by the Association shall be obtained by
289 the Seller, in writing, within days after Buyer's approval of the documents. Fees charged by the
290 "Association ", or its management company, for purposes of verification of good standing and/or transfer
291 of ownership shall be shared equally by Buyer and Seller. Start -up or one time reserve fees, if any, shall be
292 paid by Buyer.
293
294 Buyer acknowledges that in every neighborhood there are conditions which others may find objectionable.
295 Buyer shall therefore be responsible to become fully acquainted with neighborhood and other off-site
296 conditions that could affect the Properly.
297
298 U. ATTORNEYS FEES: Any party to this Agreement who is the prevailing party in any legal or equitable proceeding
299 against any other party brought under or with relation to the Agreement or transaction shall be additionally entitled
300 to recover court costs and reasonable attorney's fees from the non - prevailing party.
301
302 V. ADDITIONAL PROVISIONS:
303
304 1. Unless otherwise provided, any proration for rent, taxes, insurance, damage deposits, association dues/
305 assessments, or any other items shall be computed as of the day immediately prior to the Closing Date.
306
307 2. Underground mining has occurred in Indiana, and Buyers are advised of the availability of subsidence
308 insurance.
309
310 3. The Indiana Sheriffs Sex Offender Registry (www.indianasheriffs.ora) exists to inform the public about the
311 identity, location and appearance of sex offenders residing within Indiana. Broker is not responsible for
312 providing or verifying this information.
313
314 4. Conveyance of this Property shall be by general Warranty Deed, or by
315 subject to taxes, easements, restrictive covenants and encumbrances of record, unless otherwise agreed.
316
317 5. Seller represents and warrants that Seller is not a "foreign person" (individual entity) and, therefore, is not
318 subject to the Foreign Investment in Real Property Tax Act
319
320 6. Any notice required or permitted to be delivered shall be deemed received when personally delivered,
321 transmitted electronically or digitally or sent by express courier or United States mail, postage prepaid,
322 certified and return receipt requested, addressed to Seller or Buyer or the designated agent of either party.
620 Columbia Street. South Band. 46691
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Page 5 of 7 (Purchase Agreement)
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7. This Agreement shall be construed under and in accordance with the laws of the State of Indiana and is
binding upon the parties' respective heirs, executors, administrators, legal representatives, successors, and
assigns.
8. In case any provision contained in this Agreement is held invalid, illegal, or unenforceable in any respect, the
invalidity, illegality, or unenforceability shall not affect any other provision of this Agreement.
9. This Agreement constitutes the sole and only agreement of the parties and supersedes any prior
understandings or written or oral agreements between the parties' respecting the transaction and cannot be
changed except by their written consent
10. All rights, duties and obligations of the parties shall survive the passing of title to, or an interest in, the Property.
11. Broker(s) may refer Buyer or Seller to other professionals, service providers or product vendors, including
lenders, loan brokers, title insurers, escrow companies, inspectors, pest control companies, contractors and
home warranty companies. Broker(s) does not guarantee the performance of any service provider. Buyer and
Seller are free to select providers other than those referred or recommended to them by Broker(s). The Parties
agree that Brokers and their companies shall be released and held harmless in the event of claims disputes with
any service provider.
12. By signing below, the parties to this transaction acknowledge receipt of a copy of this Agreement and give
their permission to a multiple listing service, Internet or other advertising media, if any, to publish information
regarding this transaction.
13. Any amounts payable by one party to the other, or by one party on behalf of the other party, shall not be owed
until this transaction is closed.
14. Buyer and Seller consent to receive communications from Broker(s) via telephone, U.S. mail, email and
facsimile at the numberstaddresses provided to Broker(s) unless Buyer and Seller notify Broker(s) in writing
to the contrary.
15. Buyer discloses to Seller that Buyer holds Indiana Real Estate License # 9521006631
16. Where the word "Broker' appears, it shall mean "Licensee" as provided in I.C.25- 34.1 - 10.5.8.
W. FURTHER CONDITIONS (List and atfaoh any addenda): SvxER xs LlsrING AGENT / BROKER .
✓ � pgV !o � 1/i0 4 ••hr MC av i C S
X. CONSULT YOUR ADVISORS: Buyer and Seller acknowledge they have been advised that prior to signing this
document, they may seek the advice of an attorney for the legal or tax consequences of this document and the
transaction to which it relates. In any real estate transaction, it is recommended that you consult with a
professional, such as a civil engineer, environmental engineer, or other person, with experience in evaluating the
condition of the Property.
Y. ACKNOWLEDGEMENT& Buyer and Seller acknowledge that each has received agency office policy disclosures,
has had agency explained, and now confirms all agency relationships. Buyer and Seller further acknowledge that
they understand and accept agency relationships involved In this transaction. By signature below, the parties verify
that they understand and approve this Purchase Agreement and acknowledge receipt of a signed copy.
Z EXPIRATION OF OFFER: Unless accepted by Seller and delivered to Buyer by ❑ A.M. ❑ P.M.
a Noon, the day of , this Purchase Agreement shall be null and void and all
parties shall be relieved of any and all liability or obligations.
620 Columbia Street So + +rt+ Bond. 66601 _ _ -
(PrOp ; AOdresa)
Page 6 of 7 (Purchase Agreement)
Produced wNh ZlpForme by aPLook 16070 Rosen Mile Road, From, Mechhan 48028 mltziol,ppg,coin 620 Columbia
388 This Agreement may be executed simultaneously or in two or more counterparts, each of which shall be deemed
389 an original but all of which together shall constitute one and the same instrument The parties agree that this
390 Agreement may be transmitted between them electronically or digitally. The parties intend that electronically or
391 digitally transmitted signatures constitute original signatures and are binding on the parties. The original document
392 shall be promptly delivered, If requested.
393 ^
394
395
396
397 9UYER'S SIGNATURE�/ 9ATE BUYER'S SIGNATURE DATE
398
399 �, Gordon
400 PRIN PR
401
402 SELLER'S RESPONSE: (Check appropriate paragraph number):
403
404 This day of at ❑ A.M. ❑ P.M. ❑ Noon
405
406 ❑ 1. The above offer Is Accepted.
407
408 ❑ 2. The above offer is Rejected.
409
410 ❑ 3. The above offer Is Countered. See Counter Offer. Seller should sign lath the Purchase Agreement and
411 the Counter Offer.
412
413
414
415
416 SELLER'S SIGNATURE DATE SELLER'S SIGNATURE DATE
417
418
419 PRINTED PRINTED
I
Prepared and provided as a member service by the Indiana Association of REALTORS®, Inc. (IAR). This form is
restricted to use by members of IAR. This is a legally bkWing cWhad, If not understood seek legal advice.
Form 802. Copyright IAR 2013
11214
620 Columbia Street. South Band. 46601
(Property Addra�)
Page 7 of 7 (Pu r' - e Agreement)
ProdLmd wit, 2ipFOrme by tlpLogix 184370 Filbert Mile Road, Fraser, Michipn 40020 me j"MbL N0 620 Ccdmbm