CONDITIONAL LETTER OF INTENT TO PURCHASE REAL ESTATE ASSETS by yue97jill

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									                                                                   Private and Confidential
                                                                  (866) 289-8146 fax - info@cambridgecapitalgroup.com


                                      Cambridge Capital Group
      CONDITIONAL LETTER OF INTENT TO PURCHASE REO PACKAGE


Date: ______________________ (“Effective Date”)
To:        Seller of Record
Re:        Conditional Letter of Intent to Purchase the following REO assets:
           (List type and locate of REO asset being requested here),


BPO (Estimated):                                                         Type:
Purchase Price                                                     Condition:
(Estimated):

Discount from
BPO:                                                             Increments:
Points Payable

Dear Sir or Madam;

We are providing this Letter of Intent (“LOI”) from _____________________________
(“Buyer”) for the purpose of indicating our desire and interest on acquiring REO properties
located in _______________________________________ (the “REO Package”). This LOI is
intended to convey basic purchase terms in which we would consider moving forward to a
binding purchase agreement. Only a mutually agreed upon purchase agreement shall
constitute as binding. We hereby confirm and warrant that we, as of the Effective Date, have
the full capability through our liquidity and capital to move forward with this potential purchase
of the REO Package. In addition, we warrant that we are willing and able to purchase said REO
Package with good, cleaned, and cleared United States Dollars (USD) of non-criminal origins,
through our banking institutions. The following is a general outline of the terms in which we
would like to proceed.
      1. Purchase Price: ________________________ and 00/100 dollars ($_____________)
         USD$ plus applicable fees payable to facilitators as indicated above. This will be an
         ALL CASH purchase, as such; receiving acceptable financing terms from a lender shall
         not be a condition of the Buyer completing this purchase.

      2. Closing: shall occur as a one-time payment of approximately ______________________
         ______________________________ and 00/100 dollars ($______________) USD$
         plus applicable fees payable to facilitators as indicated above and will be payable to
         Seller, or Seller’s assignees. Closing is estimated to occur ten (10) business days after
         completion of our Due Diligence Period, as described herein below.



                                                                                              Initials: _____ _____

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                                                          Private and Confidential
                                                         (866) 289-8146 fax - info@cambridgecapitalgroup.com


           Full Disclosure Package and Due Diligence Materials: Within (48) hours (business
           hours) after Sellers acceptance of this LOI, seller of REO Package, on a best efforts basis,
           shall deliver to Buyer any and all information, documentation, and property files in
           seller’s possession or control relating to the properties in the REO Package (collectively,
           “Due Diligence Materials”).
     3. Due Diligence Period: Buyer will require five (5) business days from the day of Due
        Diligence Materials receipt to conduct its due diligence on the REO Package (“Due
        Diligence Period”).
     4. Conditions: Buyer’s obligation to purchase the REO Package shall be subject to the
        complete satisfaction or waiver of the following conditions (conducted through the Due
        Diligence Period):
        A) Buyer’s review and approval of the Due Diligence Materials;
        B) Buyer’s acceptance of values on each of the properties in the REO Package;
        C) Satisfactory site and infrastructure inspections by the Buyer;
        D) Satisfactory total cost and capital expenditure analysis;
        E) Buyer’s satisfactory review and approval of the condition of the titles for each asset
            in the REO Package;
        F) Buyer’s satisfactory location and property history analysis;
        G) Mutually agreeable terms and conditions set forth in Purchase Contract and other
            legally binding documentation related to this REO Package acquisition.
     5. Confidentiality: Seller of the REO Package agrees to keep the Buyer’s offer and
        financial information confidential, and not to publicly disclose the terms and conditions
        of this LOI to any other third party. If this LOI or the terms are found to be disclosed to a
        third party, the Buyer will immediately terminate this LOI and will not proceed with this
        contemplated transaction.

The foregoing represents the basic terms and conditions upon which the Buyer would be willing
to consider entering into a binding Purchase Agreement and does not purport to summarize all of
the terms, conditions, covenants, representation, warranties, and other provisions which would be
contained in the Purchase Contract and/or definitive legal documentation for the proposed
transaction. Buyer reserves the sole right to refine, revise, or terminate the terms and conditions
of this LOI and also reserves the sole right to add additional terms as it continues to understand
the details of this contemplated purchase transaction.

The terms and conditions contained in this Conditional Letter of Intent are valid until 5:00PM
Pacific Standard Time, ten (10) days from the Effective Date of this agreement. Please contact
us within (24) hours to confirm receipt of this LOI.

Please confirm your acceptance with the foregoing by signing and returning one copy of this LOI.
The undersigned parties below hereby represent and warrant that they have the authority on
behalf of their organizations to enter into this LOI. Attach corporate resolution authorizing
officer.




                                                                                        Initials: _____ _____
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                                                                     Private and Confidential
                                                                    (866) 289-8146 fax - info@cambridgecapitalgroup.com


AGREED AND ACCEPTED BY:
BUYER:
__________________________________________
(Company Name)

__________________________________________
(Print Name)

____________________________________________________
(Address)


_____________________________ ________ _____________
(City)                                        (State)       (Zip)

______________________________________
(Telephone No.)


______________________________________
(E-mail )



By:      ______________________________________

Under penalty of perjury, I attest that I am the actual Buyer with fill corporate, partnership, or entity authority, and
have the proven funds sufficient to complete this transaction, subject to the verification and acceptance of the REO
properties.




For SOFT PROOF OF FUNDS, please complete the below.

Name of Bank: __________________________________________________________


Bank Officer: ____________________________________________________________


Title:                            Phone No. __                                   Fax No.__________________


Company or Banking Institution: ____________________________________________

Amount of Funds our Attorney will verify with your Bank: $_______________________

Upon receipt of this letter, we authorize your attorney to contact the above financial
institution and to execute any and all necessary paperwork to facilitate an attorney-
to-attorney verification of funds on deposit in the financial institution indicated
above.

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                                                                  Private and Confidential
                                                                 (866) 289-8146 fax - info@cambridgecapitalgroup.com




BUYERS’ S MANDATE:
_________________________________________
(Company Name)

__________________________________________
(Print Name)

___________________________________________________
(Address)
_____________________________ ________ _____________
(City)                                       (State)     (Zip)

______________________________________
(Telephone No.)


______________________________________
(E-mail )



By:      ______________________________________

Under penalty of perjury, I attest that I am the appointed Buyer’s Mandate with full signatory authority and I am
hereby authorized to act on behalf of the above named Buyer in this transaction.




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