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AGREEMENT TO ENTER INTO AN INSTALLMENT SALES CONTRACT This Agreement by batmanishere

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									                        AGREEMENT TO ENTER
                        INTO AN INSTALLMENT
                          SALES CONTRACT

This Agreement to enter into a REAL ESTATE INSTALLMENT CONTRACT (“Agreement”)
by and between The Wilds Development Bartlett, LLC, or its assigns (“Sellers”), whose
corporate address is PO Box 28, Brookings, South Dakota 57006, and

____________________________ and _____________________________
       (print name of purchaser)                     (print name of purchaser)

of __________________________________________________________
                             (print street address of purchaser)

_____________________________________, __________, _______________________
              (city)                           (state)           (zip code)

hereinafter referred to as Purchaser(s).

1.     Agreement.

1.1    Purchase and Sale. Purchaser agrees to buy and Seller agrees
       to sell to Purchaser (on the terms and conditions as set forth below), the following
       described real property (“Lot”) through a separate real estate installment contract

       Lot __________ The Wilds RV Park, located in part of the NE1/4 SE1/4 and in part of
       the SE1/4 SE1/4 of Section 5, Township 70 North, Range 43 West of the 5th P.M.,
       Fremont County, Iowa.

       GOLF LOT _________                    RIVER LOT ________

                             (check if golf course or river lot)

1.2    Sale and Closing. The initial closing on the installment contract shall occur within thirty
       (30) days of the Effective Date or on or before the
       __________ day of ____________________, 200___ or sooner.
         (day)                       (month)                       (year)

AGREEMENT TO ENTER INTO INSTALLMENT REAL ESTATE CONTRACT – REVISED 10/11/2008                    1
       Upon receipt of this agreement the seller will forward to the purchaser the proposed real
       estate installment contract for the purchasers signature. This document must be signed,
       notarized and returned to the seller at the corporate office of the seller:
                     The Wilds Development Bartlett, LLC
                     PO Box 28
                     Brookings, SD 57006
       The Seller will record the real estate installment contract with the Fremont County Iowa
       Recorder within thirty (30) days of receipt and a filed copy will be sent to the purchaser
       after recording.

2.     Total Purchase Price. The total purchase price for the lot and lot improvements is as
       follows:
       $__________________.
3.     Earnest Money. With the execution of this Agreement, purchaser shall pay the sum of
       $____________ to The Wilds Development Bartlett, LLC (“Deposit”). The Deposit shall
       be held by The Wilds Development Bartlett, LLC until the execution of the real estate
       installment contract or unless otherwise distributed in accordance with this Agreement.
       The deposit shall be credited against the total contract price in the real estate installment
       contract. If the purchaser does not execute the contract for deed within thirty days of
       receipt then the parties acknowledge that the deposit earnest money is a fair amount for
       liquidated damages for Sellers agreeing to take the above referenced property off the
       market and list it as sale pending.

4.     Construction of Lot Improvements.

4.1    Construction, Minimum Required Improvements and Use of Lot. The Lot is being sold
       and Purchaser is purchasing the Lot for the purpose of construction of improvements
       thereon. The ‘Lot Improvement’ for purposes of this agreement shall be defined all
       physical improvements including but not limited to all concrete, pavers, structures,
       sprinklers, electrical, other utilities and landscape improvements. The ‘Minimum
       Necessary Lot Improvements’ shall include a concrete driveway, concrete RV pad,
       sprinkler system and electrical utility box. Seller shall have the right in its sole and
       absolute discretion to designate approved contractors and sub-contractors for lot
       improvements. The Purchaser understands and agrees that they are not permitted to use
       the lot until the Minimum Necessary Lot Improvements are completed.

4.2    Time for Completion of Lot Improvements. Purchaser is hereby obligated to complete
       the construction or cause the completion of the construction within two (2) years from the
       date upon which Purchaser executes this agreement (unless delayed by an act of God or
AGREEMENT TO ENTER INTO INSTALLMENT REAL ESTATE CONTRACT – REVISED 10/11/2008                       2
       matters beyond the control of Purchaser). This paragraph shall expressly survive the
       Closing and delivery of the Deed. Upon beginning construction on a lot purchaser shall
       complete construction within ninety days unless delayed by an act of God or matters
       beyond the control of Purchaser.

4.3    Building Restrictions and Covenants. Sellers shall convey to Purchaser the described
       property subject to building restrictions, easements, covenants, reservations, and rights of
       way of record at the time of closing against said property. No permanent structure may
       be constructed on property below the levy (west of the Federal Levee) located within the
       Missouri River Floodway. The Purchasers have been informed that the property could
       flood (both west and east of the Federal Levee). Purchasers assume and accept all risks
       of flood and water damage or loss to person or property of Purchasers, their guests or
       invitees and waive any claim of damages arising as against the Seller and any
       governmental entity, agency, or lot owner association or subdivision. Purchaser is aware
       that covenants and restrictions have been filed on the property.

       All RV’s located on a lot must have current, valid, vehicle license plates, have wheels
       attached, and be ready for immediate towing at all tiles. Utility connections must be of a
       quick-disconnect type and must be capable of being shut off and detached is less than one
       hour. No fixed attachments may be connected to RV’s unless approved by Sellers.

4.4    Electricity Utilities. All lots have electricity stubbed to the lot and most lots contain a
       electrical box. The purchaser is responsible for contracting for electricity service and
       does so by calling MidAmerican Energy at (888) 427-5632.

4.5    Other Utilities and Association Fees. Purchaser(s) acknowledges they are required to pay
       Annual Association Fees. The association fees for 2008 are $500.00 to cover the costs of
       maintenance of common areas and golf course, sewer, water including maintenance of
       the well and pumps and garbage service. Because of the lateness of the season the Seller
       is waiving the 2008 association dues. The annual association fee shall be billed in
       January and due February 15, 2009 and each year thereafter. The sewer treatment plant
       for the golf course lots is under construction and will not be completed until summer of
       2009. If the Purchaser begins using the golf course lot prior to completion of the sewer
       Purchaser shall be responsible for the cost of pumping there tanks and Seller agrees to
       assist in arranging for a local company to service the individual sewer needs.There will
       be a separate fee to be a member of the golf course which will cover the annual golf fees.
       The Purchasers are not required to be members of the golf course to use the clubhouse
       and commercial area but all Purchasers are required to be members of the Association.
       Purchaser(s) acknowledge and agree that if they fail to pay the Association fees within
       thirty (30) days of when due that they a subject to legal and equitable actions by the
       Association as outlined in the Covenants and Association documents and further that the
AGREEMENT TO ENTER INTO INSTALLMENT REAL ESTATE CONTRACT – REVISED 10/11/2008                        3
       Association may cut off utility services to the individual lot including water and sewer.
       This paragraph shall expressly survive the delivery of the contract for deed and the
       warranty deed.

5.     Title Insurance, Mortgagee Loan, Closing Costs and Real Estate Taxes. Upon the final
       payment on the installment contract the Sellers agree to perfect the title so that upon
       conveyance, title shall be deemed marketable in compliance with this Agreement, the
       land title laws of the State of Iowa, and the Iowa Title Standards of the Iowa Bar
       Association. Purchaser shall pay all loan and closing costs, including without limitation,
       documentary stamps on the Deed, cost of recording the Deed, title insurance search costs
       and premiums, survey costs, and all costs related to any loan. The Purchasers shall be
       responsible for the cost of closing services with a title insurance company. The Seller
       shall pay the cost of recording the installment sales contract.

6.     Interest on installment contract balance. The balance under the installment contract shall
       be charged a 12% interest rate per annum on the unpaid balance, said payments shall be
       due on a monthly basis based on a 20 year amortization statement with a seven year
       balloon.

7.     Documents & Attachments. Purchaser acknowledges receipt of the Declaration and
       Covenants of The Wilds RV & Golf Resort and further acknowledges that as a purchaser
       of a Lot at The Wilds they are subject to certain restrictions and are members of the Lot
       Owners Association.

8.     Default.

8.1    Remedies in Event of Default by Purchaser. In the event Purchaser fails to pay any
       balance due under this Agreement when said payment is due, including payment of the
       Earnest Money, or in the event Purchaser commits any other breach of Purchaser’s
       obligations hereunder, Purchaser shall be in default under this agreement. In the event of
       default by Purchaser, Seller shall have the remedies described herein in addition to any
       other statutory or equitable remedies provided by law. If the default occurs on or before
       the Closing, the Deposit paid by Purchaser shall be retained by Seller as agreed upon
       liquidated damages and this Agreement shall then be cancelled and Seller may sell the
       Lot to others and Purchaser shall have no further rights hereunder.

8.2    Remedies in event of default by Seller. Purchaser shall give written notice to Seller
       following Seller’s default under this Agreement as a condition precedent to seeking any
       remedies against Seller. The written notice shall specify the default in detail. Seller shall
       have a reasonable period of time from the date Seller receives the written notice (the
       “Cure Period”) to correct any alleged default or to otherwise respond to Purchaser in the
AGREEMENT TO ENTER INTO INSTALLMENT REAL ESTATE CONTRACT – REVISED 10/11/2008                      4
       event Seller determines that no default has occurred. Seller shall have the Cure Period to
       inspect and correct any alleged default or to otherwise respond to Purchaser in the event
       Seller determines that no default has occurred.

9.     Transfer or Assignment. Purchaser has not right to assign, sell or transfer Purchaser’s
       interest in this Agreement (whether voluntarily or by operation of law or otherwise)
       without Seller’s prior written consent which may be withheld in Seller’s sole and
       absolute discretion. Seller shall have the right to assign this Agreement, in whole or in
       part.

10.    Waiver. Seller’s waiver of any of its rights or remedies shall not operate to waive any
       other of Seller’s rights or remedies or to prevent Seller from enforcing the waived right or
       remedy in another instance.

11.    Iowa Law & Venue. Any disputes that develop under this Agreement shall be settled
       according to Iowa law. Each Purchaser acknowledges that the Lot is located in Fremont
       County, Iowa and Seller has an office in Fremont County, Iowa. Each Purchaser and
       Seller agrees that the venue for resolution of any dispute lies in Fremont County, Iowa.

12.    Time of the Essence. Purchaser acknowledges that time is of the essence in connection
       with this transaction.

13.    Counterparts and Fax Signatures, Effective Date. This Agreement shall be validly
       executed when signed in counterparts. The effective date of this agreement is the date
       upon which the last of the parties hereto executes this Agreement (“Effective Date”).
       Signatures may be given via fax transmission or through e-mail and shall be deemed
       given as of the date and time of the transmission of this Agreement by fax or by e-mail to
       the other party.




AGREEMENT TO ENTER INTO INSTALLMENT REAL ESTATE CONTRACT – REVISED 10/11/2008                      5
IN WITNESS WHEREOF, the parties have hereunto affixed their respective hands and seals on
the date and year set forth below.

Dated_______________               _____________________________
                                   PURCHASER

Dated_______________               _____________________________
                                   PURCHASER

                                   THE WILDS DEVELOPMENT BARTLETT, LLC

Dated_______________               __________________________________

                                   By _______________________________

                                   Its _______________________________




AGREEMENT TO ENTER INTO INSTALLMENT REAL ESTATE CONTRACT – REVISED 10/11/2008           6
The Wilds RV & Golf Resort                  Application                  605.690.0969 or
Fax 641.453.3222                            PLEASE PRINT                 605.690.1465

APPLICANT
Name, First, Middle, Last _________________________________________________ birth date ___________________

SS#_______________________ home phone ____________________________ cell phone _______________________

Married ___________ Unmarried ___________ Separated ____________ Home owner __________ Renter _________

Present Address ____________________________________, _______________________, ___________, ___________

How long: _______ years ______ months. Monthly mortgage & taxes ________________________________________

Name of nearest relative not living with you _________________________________________ relationship __________

Address, City, State Zip __________________, ______________, ___________, ___________ Phone _______________

APPLICANT EMPLOYMENT

Employer _______________________________________ city, state _________________________, ________________

Phone __________________________________________ job title ___________________________________________

Hire date ________________________________________ annual salary ______________________________________

CO-APPLICANT
Name, First, Middle, Last _________________________________________________ birth date ___________________

SS#_______________________ home phone ____________________________ cell phone _______________________

Married ___________ Unmarried ___________ Separated ____________ Home owner __________ Renter _________

Present Address ____________________________________, _______________________, ___________, ___________

How long: _______ years ______ months. Monthly mortgage & taxes ________________________________________

Name of nearest relative not living with you _________________________________________ relationship __________

Address, City, State Zip __________________, ______________, ___________, ___________ Phone _______________

CO-APPLICANT EMPLOYMENT

Employer _______________________________________ city, state _________________________, ________________

Phone __________________________________________ job title ___________________________________________

Hire date ________________________________________ annual salary ______________________________________



AGREEMENT TO ENTER INTO INSTALLMENT REAL ESTATE CONTRACT – REVISED 10/11/2008                                7
CREDIT INFORMATION

Checking Account With _____________________________________ Acct # __________________________________

Savings Account With ______________________________________ Acct # __________________________________


I HEREBY DECLARE THAT ALL OF THE STATEMENTS MADE IN THIS 2 PAGE APPLICATION ARE TRUE
AND CORRECT AND ARE MADE FOR THE PURPOSE OF OBTAINING CREDIT. THE WILDS DEVELOPMENT
BARTLETT IS AUTHORIZED TO INVESTIGATE MY CREDIT RECORD. TO VERIFY MY CREDIT,
EMPLOYMENT AND INCOME REFERENCES. TO OBTAIN SUCH OTHER INFORMATION AS THE WILDS
DEVELOPMENT BARTLETT, LLC DEEMS NECESSARY AND TO GIVE CREDIT REPORTING AGENCIES
(CREDIT BUREAUS) AND OTHER INFORMATION REGARDING THE WILDS DEVELOPMENT BARTLETT,
LLC CREDIT EXPERIENCE WITH ME.

Applicant Sign Here ______________________________________________    Date ___________________________

Co-Applicant Sign Here ____________________________________________ Date ___________________________




* IF YOU HAVE ANY QUESTIONS ABOUT THE INSTALLMENT REAL ESTATE CONTRACT OR THE PROCEDURE CALL
TIM HOGAN AT605-690-0969. THE INSTALLMENT REAL ESTATE CONTRACT WILL BE MAILED OR E-MAILED TO
YOU FOR YOUR SIGNATURE AND MUST BE RETURNED TO TIM HOGAN, THE WILDS, PO BOX 28, BROOKINGS, SD
57006. PLEASE DO NOT FORGET THAT THE INSTALLMENT REAL ESTATE CONTRACT MUST BE NOTARIZED.




AGREEMENT TO ENTER INTO INSTALLMENT REAL ESTATE CONTRACT – REVISED 10/11/2008                            8

								
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