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REAL ESTATE
LEASE/PURCHASE AGREEMENT
BELOW ARE THE
TERMS OF THE LEASE/PURCHASE OF THE HOME LOCATED AT
1234
Main Street
,
Columbus
OHIO
43209
1.
PURCHASER AGREES TO PURCHASE THE PROPERTY BY
September 30, 2002
AT A PRICE OF
$146,900.00
(One Hundred
Forty Six Thousand
Nine Hundred
DOLLARS)
2. PURCHASE
CONSIDERATION OF $4,000.00 IS PAYABLE AS FOLLOWS:
A.
$2,000.00 GIVEN ON
Day of Signing Agreement
B.
$2,000.00
GIVEN ON February 1, 2003
.
3. THE NON
REFUNDABLE PURCHASE CONSIDERATION REFERENCED IN PARAGRAPH (2.)
ABOVE WILL BE APPLIED 100% TO THE PURCHASE OF THE HOME AND IS
NOT REFUNDABLE IF THE HOME IS NOT PURCHASED FOR ANY REASON OR IF
PURCHASER CHANGES HIS MIND AFTER SIGNING THIS AGREEMENT.
4. ALL
PAYMENTS WILL BE MADE BY CASHIER CHECK- IF SELLER/LANDLORD
ELECTS TO ACCEPT A LATE PURCHASE CONSIDERATION PAYMENT, A
$50.00 LATE PAYMENT FEE WILL BE CHARGED.
5. THE 3 YEAR
LEASE WILL BEGIN ON
March
1,
2003,
OR
IF THE HOME IS UNDER
CONSTRUCTION, THE DAY THE HOME PASSES THE TEMPORARY OCCUPANCY
INSPECTION.
6. MONTHLY
LEASE PAYMENTS, DUE OF THE 1ST OF THE MONTH FOR YEAR ONE
IS $1175.00, FOR YEAR TWO IS +3.5% increase, AND
FOR YEAR THREE IS $+3.5% increase
7. TENANT IS
RESPONSIBLE FOR UTILITIES AND MAINTENANCE.
8. A
$100.00 MONTHLY CONTRIBUTION WILL BE MADE BY SELLER TO THE
PURCHASE PRICE AT THE TIME OF PURCHASE IF THE LEASE PAYMENT
IS MADE ON TIME.
9. SELLER IS
NOT AWARE OF ANY PROBLEMS OR DEFECTS WITH THE HOME. HOME IS
BEING ACCEPTED “AS IS” WITH NO WARRANTIES EXCEPT FOR:
30 day warranty or 1 year warranty with new homes.
10. THIS
AGREEMENT IS SUBJECT TO THE CREDIT REVIEW BY LANDLORD/SELLER.
HOWEVER, THIS AGREEMENT IS NOT CONTINGENT UPON BUYER OBTAINING
OUTSIDE BANK FINANCING NOW OR IN THE FUTURE.
11. THERE IS A NON REFUNDABLE
APPLICATION FEE OF
$45.00
12. THIS
PURCHASE CONTRACT IS BINDING UPON THE PARTIES, HEIRS, AND
EXECUTORS THE MOMENT THIS AGREEMENT IS SIGNED. TENANT/PURCHASER
SHALL BE RESPONSIBLE T0 SELLER/LANDLORD FOR ANY LOST RENTS,
UTILITIES, MAINTENANCE, AND MARKETING COSTS, AND 18% CARRY COST
ON ANY UNPAID BALANCE SHOULD THEY FAIL TO OCCUPY AND/OR
FULFILL THIS CONTRACT OBLIGATION. ALL PARTIES ACKNOWLEDGE THAT
THEY RECEIVED A COPY OF THIS AGREEMENT.
SIGNED THIS
12th
January 2003
________________________
Tenant/Purchaser
________________________
Landlord/Seller |
