PURCHASE AGREEMENT
This Agreement, made and
entered into this _____ day of ___________, 201__, by and between SKC, Inc., an
Terms: Seller does hereby agree to sell said property
to Buyer for the sum of ____________________
_______________________________________________________________________
dollars, ($_____________________) lawful money of the United States, provided
said amount is fully paid by to Seller on or before
Buyer/Builder understands all Option monies are
non-refundable except as follows:
Buyer and Seller acknowledge that if this contract has
been written prior to the final plat recording it can be nullified at the
Buyer’s written request and option monies are to be returned to the Buyer in
that event. The Buyer’s opportunity to
nullify this contract ceases upon the recording of final plat.
As consideration for this continuing offer to sell
said property, Buyer agrees to pay to the Seller the sum of
__________________________________________________________ dollars,
($_____________________) and which sum shall be applied toward the total
purchase price if Buyer's Option to Purchase is exercised on or before the
Option expiration above. Checks are to be made out to SKC, Inc. Buyer acknowledges that option monies are
released directly to the Seller and a copy of this agreement is the receipt.
In the event the full Purchase Price, less Option
payment, is not fully paid on or before said Option expiration date Seller may
convey said property to others without regard to this agreement or payments
made hereunder and Buyer shall have no claim to said property.
Total
Purchase Price $_________________________
Less
Option payments $_________________________
Balance
due on or before Expiration date
$_________________________
In the event Buyer shall exercise this Option to
Purchase said property in a timely manner, the following additional terms and
conditions shall apply:
Buyer
acknowledges receipt of a copy of the Covenants, Conditions, and Restrictions
for Fall River Estates and agrees to abide by said Covenants, Conditions, and
Restrictions.
Buyer
to contact TitleOne for lot payoff figures,
(208)475-1155. Buyer to pay for City of
Buyer/Builder
is responsible to see that all Architectural Reviews as required per the
covenants are obtained prior to construction.
Plans and specs are recommended to be submitted to the Architectural
Committee as soon as possible after the signing of this option agreement.
Buyer/Builder
is responsible for paying the one-time set-up fee assessment of $200.00 and a
prorate share of the current year’s annual fee ($350.00) to Fall River Estates
Homeowner’s Association, Inc.
Buyer/Builder
is responsible for paying the one-time special assessment for mailbox
installation of $100.00 to SKC, Inc. The
mailbox and post will be installed within two weeks after the Buyer/Builders
request for installation.
Buyer/Builder
is responsible for paying the one-time special assessment for toilet facilities
during construction of $150.00 to SKC, Inc.
Buyer/Builder shall inspect said lot for damages to
streets, curbs, sidewalks, fences (if any), and utility facilities prior to
Buyer’s Option to Purchase is exercised.
Any damage reported prior to exercising Buyer’s Option to Purchase shall
be the responsibility of the Seller. Any
damage reported after exercising Buyer’s Option to Purchase on said lot shall
be the responsibility of the Buyer/Builder.
Buyer has inspected said lot and accepts said lot in "as is"
condition. Buyer is aware that each lot may require additional fill and/or top
soil and this expense is the Buyer's expense.
Seller has completed a Geotechnical
Investigation on the property.
Seller will provide access to this report in its entirety to the Buyer
upon request. A partial list of
recommendations from that report include
that final grades adjacent to buildings of at least 5% for the 1st
15 feet, also that homes should be equipped with downspouts directing all roof
drainage water at least 5’ from the structure and the compaction of backfill
adjacent to footings to inhibit the infiltration of water adjacent to footings. The study did not include a seasonal ground
water study so any basements will be constructed at the Buyer’s risk.
Buyer/Builder is responsible to keep the majority of
storm and irrigation runoff on the lot.
The swale in the landscaping strip is in the public right of way and
standing water is to be kept to a minimum.
Buyer/Builder
is responsible to keep the lot and street in front of the lot in a reasonably
clean condition.
Driveways shall have a wearing surface approved by the
Architectural Committee of concrete, pavers or other hard surface materials,
and shall be properly graded to assure proper drainage(minimum of .4% slope and
it should drain into the swale). Grass
Pavers can be used for RV pad access with architectural approval.
Gravel driveways and parking areas in front of privacy
fencing are not allowed.
The
swale between street and sidewalk is to be seeded with grass and maintained,
watered and mowed, by the individual homeowner.
Sprinkler systems should be designed to prevent flooding of the swale. A separate zone dedicated to the swale strip
is suggested along with fairly short irrigation cycle times on all zones. Swale depth is to be kept as designed and
built, 9” deep in the center, and not filled in except for driveway crossings.
Seller
shall not furnish Title Insurance to Buyer, however, Seller warrants
merchantable title.
Possession
shall be closing date unless prior arrangements have been made in writing with
Seller to allow the start of construction prior to closing on the above stated
lot.
The Option
expiration date will not be extended automatically. In the event Seller allows the Option
expiration date to be extended, or allows Buyer to start construction prior to
payoff of said lot Buyer will be charged at the rate of $750 per month from the
date of the extension, or date of start of construction, until the date of
closing.
Buyer
agrees for a term of one year after the date of closing to give the Seller the option to buy back the
lot at the sale price for which the lot was purchased before the sale of the
lot to another party can be completed.
Buyer
acknowledges that Seller has disclosed that this property lies within the city
limits of Nampa, ID.
Closing
costs to be split between Buyer and Seller.
Taxes to be prorated as of closing date or the date of start of
construction whichever is earlier.
Buyer
acknowledges that Steve L. Cope, the President of SKC, Inc. is a licensed real
estate agent and that the Corporation is entering into this Option Agreement
for its own account.
KeyCo Real Estate, Steve Cope, shall hold a copy of this
agreement and is responsible for closing.
If
legal action is instituted to enforce this agreement, the prevailing party
shall be entitled to reasonable attorney fees.
Other
requirements: _______________________________________________________
____________________________________________________________________________________________________________________________________________________________
____________________________________________________________________________________________________________________________________________________________
______________________________________________________________________________
______________________________________________________________________________
Listing Agent – __Steve Cope – KeyCo
Real Estate______________________________
Selling Agent -
___________________________________________________________
Representation Confirmation
In this
transaction the brokerage(s) involved had the following relationship(s) with
the BUYER (`agent’ or `non-agent’ or `limited dual agent’):
Section 1
[_] A. The Broker working with the
BUYER(s) is acting as an AGENT for the BUYER(s).
[_] B. The Broker working with the
BUYER(s) is acting as an LIMITED DUAL AGENT for the BUYER(s).
[_] C. The Broker working with the
BUYER(s) is acting as an NONAGENT for the BUYER(s).
Section 2
[_] A. The Broker working with the
SELLER(s) is acting as an AGENT for the SELLER(s).
[_] B. The Broker working with the
SELLER(s) is acting as an LIMITED DUAL AGENT for the SELLER(s).
[_] C. The Broker working with the
SELLER(s) is acting as an NONAGENT for the SELLER(s).
Each party signing this document confirms that he or
she has received, read and understood the Agency Disclosure Brochure and has
elected the relationship confirmed above.
In addition, each party confirms that the broker’s agency office policy
was made available for inspection and review.
EACH PARTY UNDERSTANDS THAT HE OR SHE IS A `CUSTOMER’
This Agreement shall be binding on the executors,
heirs, administrators, personal representatives, successors and assigns of the
respective parties hereto, time being of the essence.
Buyer:_____________________________ Date:
________________
Buyers
Address:_________________________________________________________________
Buyer: _____________________________
Date:________________
Buyer's Phone:_____________________
Seller: SKC,
Inc.
6491
N. Hillsboro Pl. Business (208)890-9176
Boise,
ID 83703 Fax (208)853-5089
By:
____________________________________
Date: ________________
Steve L. Cope, President