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Standard Land Purchase and Sale Agreement
Standard Land Purchase and Sale Agreement
STANDARD LAND
PURCHASE AND SALE AGREEMENT
[#505]
The parties make this Agreement this day of , . This Agreement
supersedes and replaces all obligations made in any prior Contract To Purchase or agreement for sale entered
into by the parties.
1.
Parties
.
[insert name],
the "SELLER," agrees to sell and
[insert name],
the "BUYER," agrees to buy, the premises described in paragraph 2 on the terms set forth below.
BUYER may require the conveyance to be made to another person or entity ("Nominee") upon notification in
writing to SELLER at least five business days prior to the date for performance set forth in paragraph 5.
Designation of a Nominee shall not discharge the BUYER from any obligation under this Agreement and
BUYER hereby agrees to guarantee performance by the Nominee.
2.
Description Of Premises.
The premises (the "Premises") consist of the land containing approximately
acres, more or less, described as
as more specifically described in a deed recorded in the Registry of Deeds at
Book
, Page ] a copy of which is
is not
[choose one]
attached.
3.
Purchase Price
.
The purchase price for the Premises is $
dollars of which
$ were paid as a deposit with Contract To Purchase; and
$ are paid with this Agreement; and
$ are to be paid at the time for performance by bank, cashier's or certified check or by wire.
$ Total
4.
Escrow
.
All funds deposited or paid by the BUYER shall be held in a non-interest bearing escrow account,
, as agent for the SELLER, subject
to the terms of this Agreement and shall be paid or otherwise duly accounted for at the time for performance. If a
dispute arises between the BUYER and SELLER concerning to whom escrowed funds should be paid, the
escrow agent may retain all escrowed funds pending written instructions mutually given by the BUYER and the
SELLER. The escrow agent shall abide by any Court decision concerning to whom the funds shall be paid and
shall not be made a party to a lawsuit solely as a result of holding escrowed funds. Should the escrow agent be
made a party in violation of this paragraph, the escrow agent shall be dismissed and the party asserting a claim
against the escrow agent shall pay the agent's reasonable attorneys' fees and costs.
5.
Time For Performance
.
The SELLER shall deliver the deed and the BUYER shall pay the balance of the
purchase price at o'clock . m. on the day of
,
, at the
Registry of Deeds, or at such other time and place as is mutually agreed.
TIME IS OF THE ESSENCE AS TO EACH PROVISION OF THIS AGREEMENT. Unless the deed and other
documents required by this Agreement are recorded at the time for performance, all documents and funds are to
be held in escrow, pending prompt rundown of the title and recording (or registration in the case of registered
land). SELLER'S attorney or other escrow agent may disburse funds after 5:00 p.m. of the next business day
#505 6.06.02/214651
by
©1999, 2000, 2002 MASSACHUSETTS ASSOCIATION OF REALTORS®
, [Certificate No.
BUYER'S Initials BUYER'S Initials BUYER'S Initials SELLER'S Initials SELLER'S Initials SELLER'S Initials
(With Contingencies)
Phone: Fax:
Produced with ZipForm™ by RE FormsNet, LLC 18070 Fifteen Mile Road, Fraser, Michigan 48026 www.zipform.com
StartPoint Realty 34 Newell Hill Rd Sterling, MA 01564
(978) 422 - 3999 (978) 422 - 8310 JEFFREY BASTRESS Startpoint
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