-
SATISFACTION GUARANTEE: With the exception of complaints about the condition of streets and roads, Seller agrees that if Buyer does not like
the land being purchased by this Agreement upon visiting within six months of receipt of the first payment by Seller, Seller, or Seller's associates, will swap this lot for another available
lot of similar size and value, for the pertinent closing costs, usually $90. Gift lots and lots measuring one acre or more are excluded from this clause. (We hardly ever get lots larger than
one acre, so we wouldn't have another one available as a replacement.)
-
If Buyer is purchasing property on terms, Buyer shall have the right to pay the whole, or any part of the balance remaining unpaid at any time, with no
prepayment penalty.
-
Seller hereby sells and agrees to convey unto Buyer all of Seller's Right, Title and Interest in that certain piece or parcel of land that Buyer is making payment
for (hereinafter called "Premises"), subject to: each recorded plat or plats is/are subject to the easements, notes, encumbrances and limitations, and other indicated restrictions, if any, in
said plat or plats and subject to the conditions and restrictions as set forth in the applicable Bill of Assurance and Amendments thereto, if any, of record in the office of the Circuit Court
Clerk and Ex-Officio Recorder of the County and State in which Premises is recorded; and further subject to the following conditions:
-
Buyer hereby purchases said Premises of Seller and agrees to pay Seller the full amount of the purchase price plus closing costs and interest and late payment
penalties if any.
-
Seller warrants that the property taxes and if applicable the Suburban Improvement District or Property Association fees (SIDS) that were due on the last annual
tax delinquency date have been paid, or will be paid by Seller, and Buyer agrees that the taxes and SIDS which are due on the next annual tax delinquency date, and all taxes and SIDS that
become due and payable thereafter, shall be paid by Buyer; except that if a fee for the payment of property taxes and SIDS is blended into a loan provided to Buyer by Seller, and
Buyer’s monthly payments of principle and interest are current, and property taxes and/or SID's do not exceed the blended in fee, Seller will keep the property taxes and SID's current
up to each of the last annual tax delinquency dates that occur during the term of the loan, or up to payout of the loan if earlier. Furthermore, if a fee as mentioned above is not
blended into a loan provided to Buyer by Seller, and Buyer becomes delinquent on the payment of property taxes and/or SID's anytime prior to payout of the loan, Buyer authorizes Seller, at
Seller's sole discretion and timing, to pay the property taxes and SID's on behalf of Buyer, and to add the actual costs, plus a service fee of $80 per lot being purchased, to the
final loan payout amount. If annual property taxes are less than $20, Seller will not charge the service fee but will add the actual amount of taxes paid by Seller on behalf of Buyer to the
final loan payout amount.
-
Replacement Guarantee: If title insurance was not purchased by Buyer, for a two year period Seller agrees to swap the lot Buyer is purchasing for
another available lot of similar value in the highly unlikely event that a previous owner successfully exercises any legal claim on premises. Buyer is responsible for all costs of any 'quiet
title or other action that may be recommended by an attorney.
-
If Buyer shall make all payments as provided, and shall observe and perform all Conditions and Agreements herein made, Seller shall thereupon, by Warranty or
Special/Limited Warranty Deed, convey Premises to Buyer on the Conditions herein Agreed. Deed/s shall be prepared, signed, notarized, and delivered to Buyer within a reasonable time after Seller
has received full payment, or after a trust deed or other instrument, if applicable, has been recorded. If a trust deed or other instrument is carried by Seller, Seller shall promptly release
the deed or instrument when full payment has been made by Buyer. Buyer will have Deed/s recorded in Buyer's name and address at the proper County Courthouse within a reasonable time after
receiving Deed/s if not already recorded by Seller. Seller will provide instructions to make recording an easy process, or will take care of recording Deed/s for Buyer. Seller reserves the
right to sell or otherwise transfer loans to another party at Seller's sole discretion and timing.
-
If a loan payment is 10 days or more late, Buyer will be charged 10% of the unpaid portion of the regularly scheduled payment. Deed/s will not be
delivered to Buyer, or trust deed or other instrument if applicable will not be released, until all late fees are paid in full. Failure to make a payment for two consecutive months
shall constitute a "Default". Failure to make all payments in full as agreed upon in any other note or exchange of emails shall also constitute a Default.
-
Default: If Buyer shall have failed to perform any of the Covenants or Conditions contained in this Contract ("Default"), Seller may give Buyer
written notice specifying the Default which has occurred and inform Buyer in such notice that if such Default continues for a period of ten days after service of notice that Seller will
immediately thereafter declare this Contract Void and Forfeited, and all payments made on this contract shall be immediately due and payable, notwithstanding that the period specified for
full payment of the whole sum may not then have expired, and furthermore, Seller may additionally declare that all payments already made are forfeited to Seller as stipulated damages for
failure to perform. If Buyer has taken possession of Premises, Seller shall be entitled to immediate peaceable possession of Premises without notice, and may remove Buyer and all persons
claiming under Him/Her therefrom. In addition to any other remedy, Seller, upon Default being made, may consider Buyer as a tenant holding over without permission and remove Buyer from said
premises according as the law in such case provides.
-
All written notices permitted or required by this Contract to be given to the Parties hereto shall be at their respective mailing locations, or the email address
indicated on the last payment instrument or receipt. Seller reserves the right to communicate solely by email at Seller's discretion.
-
All buildings, trees or other improvements now on said Premises, or hereafter made or placed thereon, shall be considered a part of Premises, and shall be security
for the performance of this Contract and may not be removed therefrom, except as may be necessary to improve Premises by constructing a driveway or building site. Buyer shall not commit, or
suffer any other person to commit, any waste or damage to Premises and shall keep Premises in its new and/or improved condition.
-
Buyer accepts Premises as-is, and agrees that no verbal promises of any kind have been made which do not appear in writing. Buyer certifies that Buyer has
personally inspected or had a representative inspect, or is otherwise satisfied, and is not relying and shall not hereafter rely upon any written or verbal warranties, representations or
statements of Seller whatsoever, except any contained in this document. Buyer understands that lot sizes provided are approximate and may vary when an actual survey is completed, and that
percolation tests may be required at Buyer's expense prior to installation of any private septic system. Buyer assumes full responsibility as to suitability of Premises, title transfer
documents, and zoning for any particular purpose.
-
In the event that any provisions of this Agreement shall be held to be invalid, the same shall not affect, in any respect whatsoever, the validity of the remainder
of this Agreement.
-
Failure of Seller to exercise His/Her Rights under this Contract shall not be deemed as a waiver by Seller to exercise said Rights at any time.
-
Seller may enforce His/Her rights under this Contract in the State of Arkansas, or may enforce this Contract in any other manner now or hereafter provided. This
Agreement and the construction thereof shall be interpreted under the laws of the State of Arkansas, United States of America. Certain provisions and options regarding Arbitration may apply.
In any event, Buyer agrees to hold Seller liable only to the extent of returning any money Buyer has actually given to Seller for the purchase of premises, and not liable for any other
conceivable damages or alleged liabilities beyond that amount whatsoever, at any time.
-
Both parties agree that this Agreement is read, understood, and executed, constituting "a writing signed by You" under any applicable law or
regulation as if signed in handwriting by both Parties hereto. Evidence that Buyer has visited any of Seller's Web Pages or has read Seller's auction description or an ad containing a link to
this Contract, or a reference to Seller's Website, constitutes proof that Buyer has read and agrees to this contract. Any payment whatsoever made by Buyer to Seller is further proof that
Buyer has read and is in agreement with each and every provision and covenant of this Contract.
Seller's Signature if optionally hand-signed.
________________________________ Date ______
