-REAL ESTATE ESCROW CONTRACT THIS AGREEMENT, made to be effective on ______________, between , referred to collectively as Seller, and , referred to collectively as Buyer. WITNESSETH: 1. PROPERTY: Seller agrees to sell and convey to Buyer and Buyer agrees to purchase from Seller the following described real estate, situated in County, State of _________, to-wit: (legal description) 2. PURCHASE PRICE: Buyer agrees to pay to Seller as the total purchase price of dollars ($ ) to be allocated ($ ) for the real estate, ($ ) for equipment, the same to be paid as follows: (a) dollars ($ ) as earnest money payable to Title Company (b) dollars ($ ) at the time of closing. (c) The balance of dollars ($ be paid by the buyer in monthly installments of dollars and cents ($ ) together with interest at the rate of % per annum computed from the date of closing, to be paid in accordance with the amortization schedule attached hereto and made a part hereof by reference. The first installment shall be made on or before , 2006, with subsequent payments to be made on or before the 1st day of each month. If the 1st falls on a weekend or legal holiday then payment shall be made on the first business day thereafter. The Buyer is granted the right to prepay part or the entire contract balance at any time without penalty. 3. INSPECTION. Seller shall, for a period of fifteen (15) days after full execution of this contract (“the inspection period”) grant Buyer reasonable access to the Property after the Effective Date of this Contract for the purpose of inspecting the physical condition of the Property. Buyer’s inspection rights shall include performing soil tests, environmental tests or audits, foundation and mechanical inspections and such other inspections or surveys as buyer may reasonably require. Buyer agrees to repair any damage to the Property arising from these inspections and to indemnify, defend and hold Seller harmless from and against all claims, costs, demands, and expenses, including without limitation, reasonable attorney’s fees, court costs and other legal expenses, resulting from these inspections. Buyer’s obligations imposed by this paragraph shall survive termination of this Contract. If Buyer determines that the physical condition of the Property is not suitable for Buyer, Buyer shall deliver written notice, within five (5) days after the inspection period, to Seller that this Contract is terminated. In the absence of such termination notice, this inspection condition shall be deemed satisfied, and Buyer shall be deemed to be thoroughly acquainted and satisfied with the physical condition of the Property. Any expenses incurred for inspections and tests requested by the Buyer, shall be the responsibility of the Buyer and shall be paid by the Buyer, prior to the completion of the closing. Seller shall proceed to obtain title insurance as required above. 4. CONVEYANCE. Seller shall execute at once a warranty deed conveying the real estate described to the Buyer, which deed, together with a copy of this contract, shall be held by Escrow Closing Agent until closing. Seller agrees to convey said property to Buyer with standard policy of title insurance showing merchantable title vested in Seller subject only to easements, restrictions and rights-of-way of record. Buyer shall have reasonable time after the receipt of said title insurance commitment to have same examined by Buyer’s attorney and Seller shall thereafter have reasonable time to complete any requirements to make title merchantable. 5. CLOSING. This contract shall be closed upon approval of title on or before , 2006. Closing shall take place at the office of . Closing fees of $ shall be paid ½ by Seller and ½ by Buyer. 6. POSSESSION. Buyer shall be entitled to possession of the premises upon closing of this transaction. 7. TAXES. The taxes and assessments for 2006 and all prior years shall be paid by the Seller. All taxes and special assessments for the calendar year in which possession is delivered shall be prorated between the Seller and the Buyer, as of date of closing. If the amount of any such tax to be prorated cannot then be ascertained, the proration shall be computed on the amount thereof for the preceding year. All subsequent taxes shall be the responsibility of the buyer. 8. PERSONAL PROPERTY. Any personal property remaining on the premises at the time of closing shall pass to and become the property of the Buyer. 9. INSURANCE. Any losses insurable by a fire and extended coverage insurance policy shall be the responsibility of the Buyer until title is delivered and Buyer agrees that proceeds of any insurance claims, payable or incurred from the date of this agreement to the date of possession, shall be used to repair such damage or applied to reduce the total purchase price. If a loss occurs prior to Buyer taking possession then Buyer shall have the option of enforcing this contract or canceling by giving written notice to the Seller not less than ten (10) days prior to the closing date. If the contract is cancelled for this reason, the earnest money deposit shall be returned to Buyer without interest after payment of all expenses by the party responsible for said expenses and this contract shall thereafter be considered and void. Once an equitable interest has been assigned to the buyer, the buyer shall have the responsibility to maintain an insurance policy for fire and extended coverage on the subject property. The seller shall be listed on the policy as a mortgage holder. 10. PAYMENTS. The Seller will hold the aforesaid deed, contract and abstract of title or title insurance policy, after closing, and will receive installment payments as herein provided. The Seller will deliver said deed and abstract of title or title insurance policy to Buyer when the principal balance of this contract plus interest has been paid in full. Payments shall be sent to the Seller, 11. NON-ASSIGNMENT. During the term of this agreement neither this agreement nor any interest in the property herein described shall be assigned by Buyer without the written consent of Seller having been first obtained. 12. WASTE. Buyer hereby agrees not to commit waste and to maintain the premises in good condition during the term of this contract. It is further understood that Buyer may not remove any improvements located on the premises, nor make any building structural changes without the written permission of Seller having been first obtained. 13. HOLD HARMLESS. During the Term of this contract and after Buyer is in possession, said Buyer shall indemnify and hold harmless Seller because of and against all liabilities, penalties, damages, judgments and expenses arising from injury to person or persons or damage of any nature to property occasioned wholly or in part by any act or acts, omission or omissions of Buyer or Buyer’s agents or representatives. 14. IMPROVEMENTS. In the event during the terms of this escrow contract Buyer desires to construct or cause to be constructed any improvements on the subject property, Buyer agrees that any improvements will be considered as Buyer’s sole cost and expense. Buyer shall not be considered to be the agent of Seller in the making of any such improvements, the hiring of labor or the purchasing of material, and no persons furnishing labor or materials for the improvements on said property shall be entitled to any lien on said property for said material or labor, and Buyer agrees that they will permit no liens to attach to said property either for material furnished or work performed. 15. EXPENSES OF SALE AND PURCHSE. Expenses of sale shall be paid as follows: By Seller: Fees for preparation of contract, deed, and related services; One-half closing fee. One-half of title insurance policy for owner’s policy; One-half escrow fees; Expenses associated with title clearance. By Buyer: One-half closing fee. One-half of title insurance policy for owner’s policy; One-half escrow fees; Recording deed and mortgage registration tax to record Affidavit of Equitable Interest. 16. DEFAULT. In the event Buyer fails to make the payments required hereunder, fails to pay the real estate taxes when due or fails to perform any of the agreements herein contained, then Seller may, at Seller’s option, after said default has continued for a period of 90 days, declare this agreement to be in default and both parties shall have all rights and remedies available under Kansas law. If Seller does not exercise Seller’s option to terminate this contract, Seller may require specific performance or exercise of any other rights or remedies available to Seller under law. In the event Buyer defaults in payment of installment payments as due and for such period of time during which said default in payment continues Buyer shall pay interest on the unpaid balance at the rate of 12% per annum until such time as the default is cured by Buyer or Seller regains possession or obtains specific performance of the contract as herein provided. 17. NOTICES. All notices required hereunder shall be served by depositing same in the United States mail, postage prepaid, certified mail, return receipt requested, postage prepaid and properly addressed, as follows: To Seller: To Buyer: 17. AGENCY DISCLOSURE. Listing Broker/Licensee is functioning as a Transaction Broker. Selling Broker/Licensee is functioning as a Transaction Broker. Seller and Buyer acknowledged receiving the “Real Estate Brokerage Relationships” brochure containing a written disclosure of alternative agency relationship. 18. REPRESENTATIONS. Seller shall be bound by no representation concerning the real property and the improvements located thereon and that are not set forth herein, and it is expressly agreed that all representations relating to said real property and the improvements located thereon, if any, or to this agreement, are included in and are set forth in this agreement. 19. TIME OF ESSENCE. It is hereby agreed that time is of the essence of this contract, and all payments and performance contemplated herein must be made promptly in accordance with the term hereof. 20. BINDING ON HEIRS. It is mutually agreed that all the covenants and agreements herein contained shall extend to and be obligatory upon the heirs, executors, and administrators and assigns of the respective parties hereto. TERMS AND CONDITIONS. This Agreement supersedes any previous oral or written agreements by and between the undersigned to buy and sell the subject property. To the knowledge of Seller and Buyer, this Agreement contains all of the terms and conditions of agreement between the parties regarding the sale and purchase of said property. Subsequent amendments, modifications, or releases from any provisions hereof shall be binding only if in writing and signed by all parties. EACH PARTY SIGNING THIS AGREEMENT ACKNOWLEDGES THAT THEY HAVE READ THE ENTIRE AGREEMENT. IN WITNESS WHEREOF, The parties hereto have signed their names as of the day and year first above written. SEE YOUR ATTORNEY BEFORE SIGNING THIS AGREEMENT IF YOU DO NOT UNDERSTAND ANY PART OF IT. SELLER BUYER _____________________________________ ______________________________________ S. S. #: ______________________________ S.S. ___________________________________ Date Signed:___________________________ Date Signed:___________________________ Address:_______________________________ Address:______________________________ _______________________________________ ______________________________________ Phone #:________________________________Phone #: _____________________________ BUYER’S NOTARIZATION BE IT REMEMBERD, that on the ____ day of ________, 2006, before me, the undersigned, a Notary Public, in and fore the County and State aforesaid, came __________________, who are personally known to me to be the same persons who executed the above and foregoing Real Estate Escrow Contract and such persons duly acknowledged the execution of the same. IN WITNESS WHEREOF, I have hereunto set my hand and affixed my seal on the day and year last above written. ____________________________________ Notary Public Term expires: ____________________________ STATE OF _________________ ) ) ss: COUNTY OF _______________ ) SELLER’S NOTARIZATION BE IT REMEMBERD, that on the ____ day of ________, 2006, before me, the undersigned, a Notary Public, in and fore the County and State aforesaid, came __________________, who are personally known to me to be the same persons who executed the above and foregoing Real Estate Escrow Contract and such persons duly acknowledged the execution of the same. IN WITNESS WHEREOF, I have hereunto set my hand and affixed my seal on the day and year last above written. ____________________________________ Notary Public Term expires: ____________________________ STATE OF _________________ ) ) ss: COUNTY OF _______________ ) -----Inline Attachment Follows-----Seller’s Initials_______ Seller’s Initials_______ Buyer’s Initials_______ Buyer’s Initials_______ 1 of 5