OFFER TO PURCHASE REAL ESTATE (PHASE II)
I/We __________________________________________________________________ of the _____________ of __________________________, in the Province of Manitoba, hereby offer and agree to purchase from PRAIRIE MEADOWS INC. the land known as: LEGAL DESCRIPTION: LOT _______ AS SHOWN ON THE ATTACHED SKETCH AS SCHEDULE A (hereinafter referred to as the “Land” at and for the price per Lot $____________________ PLUS GST OF ___________________ A deposit of $10,000.00 Per Lot to be applied towards the cash payment on this Offer (to be refunded if this offer is not accepted)…………………………… $_________________ A further cash payment on or before possession and adjustment date of……………………………. $_________________ The balance as follows: __________________________________________$_________________ Purchase Price $_________________ Plus GST $_________________ TOTAL $_________________ *PURCHASER IS AWARE PURCHASE PRICE IS SUBJECT TO GST All adjustments of taxes and any other adjustments to be made as of Possession Date and Possession shall be Vacant Possession. The property is sold clear of all encumbrances and encroachments except for Caveats evidencing the Development Agreement with the Rural Municipality of West St. Paul and Caveats with Manitoba Hydro and Telephone to service the subdivision. The property, until date of possession, shall remain at the risk and responsibility of the Vendor. In signing this agreement I rely entirely upon my personal inspection and knowledge of the property independent of any representation made by or on behalf of the owner. This agreement, when accepted by the owner, shall constitute a binding contract of purchase and sale, and time shall, in all respects be of the essence thereof. I hereby make a cash deposit as set forth above in trust on account of this purchase payable to the Vendor, in trust, which deposit is to be returned to me without deduction or interest if the Vendor does not accept this Offer by the ______________ day of _____________________________, 2008. After the offer has been accepted by the Vendor the deposit shall become part of the purchase price and shall be held by the Vendor, in trust, for the Vendor to be paid over to it when it carries out its obligation under this agreement, but to be returned to me should it fail to do so. Should I/we fail to comply with the terms of this offer, the Vendor may (at its option) cancel this agreement and retain the deposit as liquidated damages and not as a penalty, or take what other remedies it, the Vendor, may have at law. The Parties acknowledge and agree that if you are purchasing Lot 35, then the Province of Manitoba Highway Department has a set back of 9.144 metres from the western edge of said Lot wherein no structures can be erected. The Parties acknowledge and agree that any Party purchasing Lot 43, 44 and 45 has a minimum set back of 22.02 meters from the northern property line within which no residence maybe constructed.
- 2 The Parties acknowledge and agree that the Purchaser agrees to enter into an Agreement whereby he shall construct a home which shall be completed on the exterior by April 1, 2011. Should the Purchaser fail to construct said home by April 1, 2011, then the Purchaser agrees to pay the Vendor the sum of $20,000.00 as penalty therefore. The Parties acknowledge that this condition shall run with the land and be binding upon any future Purchasers of the land and the Purchaser agrees that a Caveat maybe registered against their property evidencing the terms of this condition. The Vendor reserves the right to remove top soil from the front 15 meters of the Lot, for the purposes of spreading same upon the ditch which is located on the road immediately north of the Land and the Parties acknowledge that the Vendor shall return approximately the equivalent amount of top soil to the Purchaser, however, such top soil maybe in a bulk pile as opposed to spread upon the said Lands. This right of the Vendor to do so, shall continue until the Vendor receives their Final Certificate of Approval from the Municipality. The Parties agree that Possession Date will be ________________________ unless for some reason the Winnipeg Land Titles Office or the RM of West St. Paul will not permit the Vendor to transfer title by that date and if that does occur, then the Possession Date shall be extended until such time as the Land Titles Office and RM of West St. Paul will permit registration of a transfer of land. The Purchaser acknowledges having received a copy of the finalized Development Agreement, dated August 20, 2008, and acknowledges that the Purchaser has read the Development Agreement and that such Development Agreement will be registered as a Caveat against the property and the Purchaser agrees to accept same. As it relates to lot grade, the Vendor shall only be responsible to construct the drainage swales along the side lot lines of the individual lots and the Purchaser is responsible to comply with all other lot grades concerning the Land as set forth in the Development Agreement. The Vendor shall have the following rights concerning the Land including full and complete access to the Land being purchased hereunder both before and after possession date for the purposes of completing the necessary construction work as required by the terms of the Development Agreement with the Municipality. Without limiting the generality of the foregoing, this shall include: a) placing and/or stock piling fill and top soil on the Land and the removal of fill and top soil, however, if the Vendor does not remove any or all of the fill and top soil placed upon the said Land by the Vendor, then the Vendor has the right to leave same and same shall become the property of the Purchaser; The Vendor shall have until the date it receives its Final Certificate of Approval From the Municipality to remove said fill and top soil; b) the Vendor shall have the right to remove all of the berm located on the southern portion of the Land and such berm maybe used for the purposes of partially filling in the drain adjacent to the southern edge of the property; c) the Vendor shall have full and complete right to cross over and travel on any portion of the Land until such time as it received its Final Certificate of Approval. Purchaser agrees to accept Title subject to Caveats from Manitoba Hydro and Manitoba Telephone System evidencing telephone and hydro service to the subdivision. The Parties agree that the Vendor shall be entitled to receive any rebate from Hydro concerning the installation of Hydro to the subdivision.
-3This Offer is subject to the following conditions (if any): NONE WITNESS my hand and seal this ______________ day of _____________________, 2008. _____________________________________ Witness _____________________________________ Witness _____________________________________ Name of Purchaser’s Solicitor _______________________________________ Signature of Purchaser _______________________________________ Signature of Purchaser _______________________________________ Address
ACCEPTANCE I/We hereby accept the above offer and agree to and with THE PURCHASER to duly complete this sale on the terms and conditions above mentioned. Should I fail to do so the purchaser may (at his option) cancel this agreement and withdraw his deposit, or take what other remedies he, the purchaser, may have at law. Prairie Meadows Inc. has signed this ______________ day of _____________________, 2008. PRAIRIE MEADOWS INC. _______________________________________ Douglas W. Grantham Box 1400, Stonewall, MB. R0C 2Z0 Solicitor Phone: 467-5527