Purchase Agreement and Receipt for Deposit
An Unimproved Property

Date: ____________

The Property being transferred:

The 6.6 Ac. that is being sold is located in the county of Mariposa, the state of California and identified as APN No. 019-160-018

The Parties to the Agreement:
The Seller is: Thomas Thompsen (unmarried man) 

The Buyer(s) is/(are): ___________________________________________________


Purchase Price, Deposit and Contingency Removal Method:
The purchase price offered is:
_____________________________________________________________ Dollars.
(Write the entire purchase price; i.e.," Sixty Nine Thousand, Nine Hundred and Fifty".) 

Purchase Price in numerical format: $__________________________________ 

The initial Earnest Money Deposit, in numerical format, is $_________________. 
This deposit is to be deposited into an escrow account within three (3) business days.
The Seller will select the escrow company. The escrow company will provide the Buyer with Preliminary Title reports, C.C.&R.’s and possibly other documents related to this sale.
Ten (10) calendar days after receipt of such reports and documents shall be the "Contingency Date" (see below)

Escrow, Title, Dates
The date the contract is signed by both parties is called the "Effective Date".  This contract specifies a "Contingency Date" (also known as "Due Diligence Ending Date"), which is a date where the Buyer will have to complete its "due diligence" investigation of the Property. Therefore, prior to the Contingency Date, the Buyer will basically have a "free look" at the Property without jeopardizing the Deposit. This contract specifies standard due diligence matters that have to be approved by the Buyer, and these are matters
(i) concerning title, (ii) environmental matters, and (iii) a catch-all for everything else, i.e., suitability for development, marketability, etc. Prior to the Contingency Date, the Deposit will be fully refundable. Following the Contingency Date, if Buyer has approved and/or waived the matters Buyer discovers in its due diligence investigation, the Deposit will be non-refundable. 
Failure of the Buyer to provide the Escrow company with written statements of any problems related to the purchase of the property will constitute approval by the Buyer. 


The name of the Escrow Agent and the name of the Title Company will be provided by the Seller to the Buyer within three (3) days of the "Effective Date" 

The date for the Close of Escrow shall be: __________________________________ 

Allocation of Costs:
Seller costs will include:

• Preliminary Title Report. The Seller will provides a preliminary report to the Buyer for Buyer's due diligence review no later than ten (10) days after Effective Date.

• Natural hazard zone disclosure report.

• County transfer tax/fee.

Buyer costs will include:

• Owners title insurance.

• L.D.P. Owners’ Application fee

Seller and Buyer split costs:

• Property taxes prorated as of the Close of Escrow

• Escrow fees 50/50 (Seller/Buyer)

• Prorated homeowner dues ($70.00) if property is sold after 6/30/2003

Reps and Warranties
To the best of the Seller knowledge, the following are true statements:

• No Hazardous Materials. That the Property is free of hazardous materials, and that no hazmat actions have been brought against the Property.
  

• Condition of Property. Seller has no actual knowledge of any material conditions relating to the Property that are not reflected in the Property Documents delivered to Seller.
  

• Environmental Restrictions. Seller has no knowledge of any environmental conditions, including but not limited to presence of any endangered species, vegetation or wetlands areas, that would make any portion of the Property subject to development restrictions.
  

• Liens and Claims of Possession. Seller will take the Property free from all claims, including any claims for rights of possession, any easements and/or rights of way for private or public uses, other than as shown in the Review Documents and/or title policy. The Subdivision Plot Plan shows a 10’ Utility easement along the East side (915.39’)of the property and a 30’ trail easement along the rear (South end) of the property. 

Title and Vesting
Buyer(s) is(are) responsible for specifying the vesting of title.

Other Terms and Conditions:

____________________________________________________________________

____________________________________________________________________

____________________________________________________________________

____________________________________________________________________

____________________________________________________________________

____________________________________________________________________

Place for Signing

Buyer_______________________ Buyer______________________ Date _______

Buyer_______________________ Buyer______________________ 
                         (Print name)                                   (Print name)

Buyers address: _____________________________________________________________

Buyers phone:_________________________________________________
                                        (home)                                            (Business/Cell)

Buyers email address: __________________________________________


Seller____________________________________________  Date _______
                                                                                                    "Effective Date" 

Seller: Thomas Thompsen 

Sellers address: __________________________________________________

Sellers phone:__________________________________________________________
                                       (home)                                        (Business/Cell)

Sellers email address: harvey-the-rv@earthlink.net