Assignment Of Proceeds Agreement

Assignment Of Proceeds Agreement-13
The ADA does not specify responsibility for compliance as between lessor and lessee or as between seller and purchaser.Compliance and the allocation of responsibility for cost for compliance must be negotiated between the parties.] Broker makes no representation or warranty with respect to compliance or noncompliance of the Property or any contemplated use of the Property.

The ADA does not specify responsibility for compliance as between lessor and lessee or as between seller and purchaser.Compliance and the allocation of responsibility for cost for compliance must be negotiated between the parties.] Broker makes no representation or warranty with respect to compliance or noncompliance of the Property or any contemplated use of the Property.

All duties of Purchaser to purchase the Property shall be expressly conditioned upon the satisfaction of each of the conditions set forth below on or before the date set forth with regard to each condition.

PURCHASER SHALL NOTIFY SELLER, IN WRITING, OF PURCHASER’S REMOVAL OR WAIVER OF EACH CONDITION SET FORTH BELOW WITHIN THE SPECIFIED TIME PERIOD OR THIS CONTRACT SHALL BE TERMINATED AND ALL DEPOSITS, WITH INTEREST, IF ANY, SHALL BE RETURNED TO PURCHASER WITHOUT PENALTY.

This Real Estate Purchase Agreement is for commercial or retail real estate. The agreement contemplates the presence of a broker in the transaction, but those provisions may be removed.

Download this free real estate purchase agreement below.

Within thirty (30) days from the Contract Date, Purchaser’s determination that the Property, its income and development potential, its market position, its uses and other economic aspects are acceptable to Purchaser, in Purchaser’s sole discretion.

Within thirty (30) days from the Contract Date, Purchaser’s approval of inspections by Purchaser and professionals employed by Purchaser of the Property and all improvements thereon, including, but not limited to, roof, plumbing, soils tests, electrical, sprinkler, water, sewer, engineering studies, heating and air conditioning system or systems, and structural integrity of the improvements, including structural pest control reports, toxic/hazardous substance inspections, and to measure the square footage of the Property, including land and any improvements.RETENTION OF THE DEPOSIT BY SELLER AS LIQUIDATED DAMAGES IS NOT INTENDED AS A FORFEITURE OR PENALTY WITHIN THE MEANING OF CALIFORNIA CIVIL CODE SECTIONS 3275 OR 3369, BUT INSTEAD IS INTENDED TO CONSTITUTE LIQUIDATED DAMAGES TO SELLER PURSUANT TO SECTIONS 1671, 16 OF THE CALIFORNIA CIVIL CODE, BECAUSE OF THE SPECIAL NATURE OF THE NEGOTIATIONS WHICH PRECEDED ACCEPTANCE BY SELLER OF PURCHASER’S OFFER TO ACQUIRE THE PROPERTY, THE PARTIES ACKNOWLEDGE THAT THE ACTUAL DAMAGE WHICH PURCHASER’S DEFAULT WOULD CAUSE TO SELLER WOULD BE EXTREMELY DIFFICULT OR IMPRACTICABLE TO ESTABLISH.IN ADDITION, PURCHASER DESIRES TO HAVE A LIMITATION ON ITS POTENTIAL LIABILITY TO SELLER IN THE EVENT THAT THE PURCHASER DEFAULTS IN ITS OBLIGATION TO TIMELY PERFORM ANY OF THE TERMS, COVENANTS AND CONDITIONS OF THIS AGREEMENT.Close of escrow shall mean the date all documents required hereunder is placed of record. Seller, at Seller’s absolute discretion, shall be entitled to consecutive thirty (30) day extensions of the close of escrow date (with a minimum ending date of ________________________ ) after giving Purchaser written notice fifteen (15) days prior to close of each extension term. Property taxes, premiums on insurance acceptable to Purchaser, prepaid rents, interest, interest on assessments if assumed by Purchaser, and any other proratable items, shall be prorated as of close of escrow. The amount of any bond or assessment, which is a lien, shall be paid by Seller.As a condition to Purchaser’s obligations hereunder the Title Company shall issue its CLTA owner’s policy of title insurance insuring Purchaser in the amount of the Purchase Price as owner of the Property subject only to the Permitted Exceptions.This Agreement, to the extent assignable, is binding upon the heirs, executors, administrators, successors and assigns of the Purchaser and Seller, and shall survive recordation of the Grant Deed and close of escrow. Purchaser acknowledges that Purchaser has not received or relied upon any representations from either Seller or Broker(s) regarding the legal effect, interpretation or economic consequences of the National Flood Insurance Program and related legislation.Each person executing this Agreement on behalf of a party represents and warrants that such person is duly and validly authorized to do so on behalf of the entity it purports to so bind, and if such party is a partnership, corporation or trustee, that such partnership, corporation or trustee is the owner of the Property and has full right and authority to enter into this Agreement and perform all of its obligations hereunder. flood insurance be carried where such properties are security for the loan. situated in a Special Study Zone as designated under the Alquist-Priolo Special Studies Zone Act, Sections 2621-2630, inclusive, of the California Public Resources Code, or otherwise in an area of the high geologic hazard (“Geologic Zone”).In consideration for Purchaser’s Contingencies, Purchaser shall pay Seller One Hundred 00/100 Dollars ($ ________ ), which Seller shall retain whether or not escrow closes.Said sum shall (not) be credited to Purchaser’s account if escrow closes.If Purchaser fails to so notify Seller, in writing, within five working days of its election pursuant to this paragraph, Purchaser shall be deemed to have elected to waive this condition.In the event of a termination hereunder, the parties shall have no obligations hereunder and Purchaser’s deposit shall be returned to Purchaser.

SHOW COMMENTS

Comments Assignment Of Proceeds Agreement

The Latest from homologation.ru ©