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Montana Real Estate Purchase Agreement

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Montana Real Estate Purchase Agreement Powered By Docstoc
					                                 EXHIBIT A

         TERMS AND CONDITIONS OF REAL ESTATE AUCTION

                     Rosebud, Montana 59347
                    Saturday, February 2, 2008
                            1:00 P.M.

       A Buyer's Premium of 2% will be added to the bid price
                to determine the total contract price.

1.  PROCEDURE: All bidding is open to the public. You need to raise your
    hand or call out your bid as the auctioneer asks for bids. This is a one
    time opportunity. Auctioneer and his bid assistants will take your bid and
    will assist you with any questions.
2. ACCEPTANCE OF BID PRICES: The successful bidder will be required to
    enter into a purchase agreement at the auction site immediately following
    the close of the auction. The final bid price is subject to the Seller’s
    acceptance or rejection. Should the final bid price be unacceptable to the
    seller then bidders down payment will be refunded in full.
3. BUYERS PREMIUM: A two percent (2%) Buyers Premium will be added
    to the successful bid to determine the Contract Purchase Price. Please
    take this into consideration when bidding.
4. DOWN PAYMENT: $20,000 down payment on the day of auction with
    the balance in cash at closing. The down payment shall be made with
    cash, cashiers check, personal check, or corporate check. Your bidding is
    not conditional upon financing, so be sure you have arranged financing, if
    needed, and are capable of paying cash at closing. Down payment is non-
    refundable upon seller’s acceptance of the final bid price.
5. CLOSING: The balance of the purchase price is due at closing, which shall
    take place on or before February 28th, 2008 or as soon thereafter as
    applicable closing documents are completed. Costs for an administered
    closing shall be shared 50:50 between Buyer and Seller. Possession shall
    be upon time of closing & recording of documents.
6. EVIDENCE OF TITLE: Seller shall provide an owners title insurance policy
    in the amount of the purchase price and convey title with a personal
    representative’s deed.
7. DEED: Seller shall provide a Warranty Deed.
8. RELINQUISHED PROPERTY: Buyer herein acknowledges that it is the
    intention of the Seller to create an IRC Section 1031 tax-deferred
    exchange. Buyer agrees the Seller’s rights and obligations under this
    agreement may be assigned to facilitate such exchange and this
    agreement is part of an integrated, interdependent exchange agreement.
    Buyer agrees to cooperate with the Seller in any manner necessary to
    enable Seller to qualify for said exchange at no additional cost or liability
    to Buyer.
9. REAL ESTATE TAXES: Real estate taxes shall be pro-rated to date of
    closing.
10. SURVEY: Existing legal description will serve as boundaries for this
    property. Should buyer choose to have property surveyed, Buyer shall pay
    the survey costs.
11. EASEMENTS AND LEASES: Sale of said property is subject to any and all
    easements of record and any and all existing leases.
12. MINERAL RIGHTS: The sale shall include all mineral rights owned by the
    seller, if any.
13. DISCLOSURES: Buyer acknowledges they are buying property in AS-IS
    condition without inspections or contingencies.
14. AGENCY: United Country-Musser Bros, Inc. and its representatives are
    exclusive agents of the Seller.
15. DISCLAIMER AND ABSENCE OF WARRANTIES: All information
    contained in this brochure and all related materials are subject to the
    terms and conditions outlined in the Purchase Agreement. The property is
    being sold on an "AS IS, WHERE IS" basis, and no warranty or
    representation, either expressed or implied, concerning the property is
    made by the Seller or the Auction Company. All sketches and dimensions
    in the brochure are approximate. Each potential bidder is responsible for
    conducting his or her own independent inspections, investigations,
    inquiries, and due diligence concerning the property. The information
    contained in this brochure is subject to verification by all parties relying on
    it. Seller or the Auction Company assumes no liability for its accuracy,
    errors, or omissions. Conduct of the auction and increments of bidding are
    at the direction and discretion of the Auctioneer. The Seller and Selling
    Agents reserve the right to preclude any person from bidding if there is
    any question as to the person’s credentials, fitness, etc. All decisions of
    the Auctioneer are final.
16. ANNOUNCEMENTS made by the auction company at the auction podium
    during the time of the sale will take precedence over any previously
    printed material, or any other oral statements made.


I have read and understand the terms & conditions of Exhibit A and agree to
comply with all said terms.


Buyer: ___________________________
        ___________________________
Date: ___________


Seller: ___________________________
        ___________________________
Date: ___________

				
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