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Land Purchase Agreement
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Date_______________________,
Ranch and Farm Partnership
agrees to sell and (Buyer’s Name)______________________________________________
agrees to purchase the following described real property: Parcel 3 as shown on that certain Parcel Map filed in Modoc County Recorder's Office Sept 8, 1987 in Book 1 Parcel Maps 75; being a portion of Gov Lot 59 (former Gov lot 47) in Sec 26, Town 47 N, Range 5 E,M>D>B. & M. 1 acre more or less. Reserving a
non-exclusive 30 foot wide easement for public use for ingress, egress and
utilities on east side of property.
Purchase price of $4,900 to be paid as follows: NO
down. Balance to be paid with interest from date of this contract at the rate
of 9% per annum in installments of $49 per month, or more, beginning on the
15th day of 1st month from the date of this contract and continuing until
paid. There will be a $5.00 late fee if any payment is delinquent over 7 days. If Buyer pays $500
down within one and 1/2 months of date of this contract, the interest will be
lowered to 7%. Time is of the essence in this contract. In the event Buyer fails to make any scheduled payments when due Seller may mail Buyer, at his last known address, a 30 day notice to bring payments current. Buyer understands that if payments are not brought current within said 30 day period, Seller may keep all monies paid him and Seller will be released from any obligation of delivering title.
Taxes that become due after date of this agreement will be paid by Buyer. No oil or mineral rights are being sold. Any surface damages paid will be credit first on Land Purchase Agreement and remainder, if any, to Buyer.
After Buyers have paid $2,000.00 off purchase price, at
Buyer's written request, Seller will prepare a mortgage or deed of trust and
note for the balance then owed. Seller will record property into
Buyer's name, after Buyers have signed same.
The cash purchase
price is $4,900. The interest if all payments are made as agreed is $4,048
The annual percentage rate is 9%. The total finance price with principal and
interest is $8,948. Total number of payments is 182. YOU MAY PAY THIS
CONTRACT OFF AT ANYTIME AND INTEREST WILL STOP.
This contract can not be recorded . |
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Ranch and Farm Partnership
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Seller: Patricia Howard |
SIGN HERE
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