Purchase Agreement Buyers Initials __________ __________ Sellers Initials __________ __________

PURCHASE AGREEMENT

THIS PURCHASE AGREEMENT is made by

, whose address is

("Seller"), and

purchase from Seller certain improved real property commonly known as

(address) legally described as

with PP# together with

all improvements, fixtures, easements, appurtenances, mineral rights, riparian rights and rights of

adverse possession and/or acquiescence used, acquired or otherwise existing in connection with

the real property. The real property is located in the Township of

County, Michigan. All real and personal property interests sold

and purchased pursuant to this Agreement are collectively referred to as the "Premises."

equally liquid equivalent.

CASH The full purchase price upon execution and delivery of a Warranty

Deed.

NEW MORTGAGE The full purchase price upon execution and delivery

of a Warranty Deed, contingent upon Buyer’s ability to obtain a (type)

(Year) mortgage in the amount of % of the sale price bearing interest

rate not to exceed % per annum, on or before the date the sale is to be

closed. Buyer agrees to apply for a mortgage loan, and pay all fees and costs

customarily charged by Buyer’s lender to process the application, within days

after this Agreement is fully executed, not to impair the Buyers’ credit after the

forms, wherein the balance of $ will be payable in monthly

installments of $ or more included interest at % per annum,

Purchase Agreement Buyers Initials __________ __________ Sellers Initials __________ __________

interest to start on date of closing, and first payment to become due thirty (30)

days after date of closing. The entire unpaid balance will become due and

payable months after closing.

4. Contingencies: The Buyer’s obligation to consummate this transaction

(check one):

5. Fixtures and Personal Property. All fixtures are included in this sale at no

additional cost to Buyer. These items include, without limitation, the following, if now in or on

the Premises: plumbing, heating and lighting fixtures; drapery and curtain hardware; window

shades and blinds; built-in kitchen appliances; wall-to-wall carpeting, if attached; all attached

mirrors and bathroom mirrors; stationary laundry tubs; water softener, water heater; heating and

air conditioning equipment (window units excluded); ceiling fans; built in gas grills; water pump

and pressure tank; TV antenna; screens, storm windows and doors; awnings; mailbox; all

plantings; garage door openers and controls; fireplace screen and grate; and locks and keys. The

following personal property is also included in the sale at no additional cost to Buyer:

condition and working order, Buyer shall have the option of terminating this Agreement within

ten (10) days after the Effective Date of this Agreement.

7. Well/Septic: Within ten (10) after this Agreement is fully executed, the Seller

will arrange and pay for an inspection and written report by the County Health Department or a

mutually agreed upon qualified inspector, if allowed by the Health Department, of the primary

well (including a water quality test) and septic systems (including tank pumping) in use on

property. If the Wells and/or Septic Systems are found not to be in proper condition and working

order, or if the well water does not meet current quality standards as determined by local health

authorities, repairs and/or replacements necessary to correct the problem shall be completed in a

Buyer with a copy of Seller's survey of the Premises within ten (10) days of the Effective Date of

Purchase Agreement Buyers Initials __________ __________ Sellers Initials __________ __________

this Agreement. If the Seller does not have a copy of an existing survey: The Buyer has elected

to obtain:

A Boundary Survey certified to Buyer with iron corner stakes and with

improvements and easements located on a map of survey.

A Surveyor’s Report or Sketch (Not a boundary survey), re-certified to Buyer

showing the approximate locations of improvements.

 Buyer

 Seller

10. Lead-Based Paint. Seller has complied with the Residential Lead-Based Paint

Hazard Reduction Act of 1992 by disclosing to Buyer any information Seller has about the

existence of lead-based paint in the Premises and has provided Buyer with a copy of the lead-

based paint hazard pamphlet entitled Protect Your Family from Lead in Your Home. Buyer has

waived the opportunity to conduct a risk assessment or inspection for the presence of lead-based

paint or lead-based paint hazards.

11. Taxes and Special Assessments. Seller will be responsible for any taxes billed

prior to those addressed below. Buyer will be responsible for all taxes billed after those

Buyer Seller will pay taxes billed summer (year)

Buyer Seller will pay taxes billed winter (year)

Calendar Year Proration: Calendar year tax levies will be estimated, if necessary,

using the taxable value and the millage rate(s) in effect on the day of closing,

broken down to a per diem tax payment and prorated to the date of closing with

Seller paying for January 1 through the day of closing.

Fiscal Year Proration: Taxes will be prorated as through they are paid in advance

with the fiscal year due dates to cover a 12 month date billed, and taxes will be

Purchase Agreement Buyers Initials __________ __________ Sellers Initials __________ __________

12. Prorations: Any dues or association fees, rent, or any agreement assumed by Buyer

will be prorated and adjusted at the date of closing. Seller hereby assigns their

responsibilities under any applicable restriction of use agreement for the property to

Buyer. Buyer accepts this assignment and assumes those responsibilities.

14. Title Insurance. At Seller's expense, Seller shall provide Buyer with a expanded

coverage ALTA Homeowner's policy of title insurance in the amount of the Purchase Price,

effective as of the date of closing and shall provide Buyer with a commitment for the policy

within ten (10) days after the Effective Date of this Agreement. If the title insurance

commitment discloses any matter that is unacceptable to Buyer, Buyer may terminate this

Agreement within ten (10) days after Buyer's receipt of the title insurance commitment.

15. Closing. This sale shall be closed within ten (10) days after all necessary

16. Possession. Possession to be delivered on (date) in

substantially similar to the conditions at inspection. Seller may occupy until delivery. Seller

will remove all personal property, make arrangements for final payment of utilities, and deliver

all keys to Buyer at the date of delivery.

17. Earnest Money; Default. Buyer will deposited with Seller the sum of $

as earnest money to apply on the Purchase Price. If title to the Premises

is not marketable or if any condition set forth in this Agreement is not satisfied, the earnest

money shall be promptly refunded to Buyer, this Agreement shall be of no further effect and

prevailing party shall be entitled to recover from the other party, promptly after demand

Purchase Agreement Buyers Initials __________ __________ Sellers Initials __________ __________

therefore, all reasonable attorney fees and costs incurred in connection with prosecuting or

defending the lawsuit.

18. Commissions. Each party represents to the other that no real estate salesperson,

broker or other third party was involved in this transaction to whom either party could incur

liability for a commission or other compensation. Each party agrees to indemnify the other party

last known address or the date of hand delivery to the other party.

20. Municipality Compliances. The Seller will arrange and pay for current

certificates of occupancy, sidewalk compliance, and smoke detector ordinances, if applicable.

21. Effective Date. This Agreement shall become effective when executed by all of

the parties listed below (the "Effective Date").

22. Other Provisions:

(Print name as you want it to appear on documents)

(Print name as you want it to appear on documents)

Buyer(s) Address:

Buyer(s) Phone: Buyer(s) Marital Status:

Buyer(s) E-mail Address:

Purchase Agreement Buyers Initials __________ __________ Sellers Initials __________ __________

24. Seller’s Acceptance: The Above Offer is Hereby Accepted as Written or

 As Written Except:

25. Seller’s Acknowledgement: Seller has read this agreement and acknowledges receipt of a

(Print name as you want it to appear on documents)

Purchase Agreement Buyers Initials __________ __________ Sellers Initials __________ __________

Legal Description of Premises