offer to purchase real estate california

Document Sample
offer to purchase real estate california Powered By Docstoc
					                       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:

(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            $_________________


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
                                            - 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

       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.

This Offer is subject to the following conditions (if any): NONE

WITNESS my hand and seal this ______________ day of _____________________, 2008.

_____________________________________                       _______________________________________
Witness                                                     Signature of Purchaser

_____________________________________                       _______________________________________
Witness                                                     Signature of Purchaser

_____________________________________                       _______________________________________
Name of Purchaser’s Solicitor                               Address
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

Shared By: