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Purchase and Sale Agreement 1

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Purchase and Sale Agreement 1 Page 2
2. PURCHASE PRICE. The purchase price shall be the sum _________________,
payable as hereinafter provided.
a. Non-refundable down payment of 10% shall be paid to Seller no later than
three (3) business days after Buyer receiving confirmation of being the
successful bidder.
b. Balance due in certified US funds, bank cashier's check or confirmed wire
transfer at closing.
3. CONDITIONS OF SALE/REPRESENTATIONS. This Agreement is
conditioned upon the following:
a. Seller’s transfer of good and merchantable title, subject to easements,
reservations and restrictions of record, and Seller furnishing a warranty
deed.
b. Upon the execution of this Agreement, Seller agrees not to enter into any
further lease agreements, or extensions of existing lease agreements,
regarding the real property or any other agreement pertaining to or
affecting the real property or improvements located thereon. Further,
Seller agrees to notify any lessee and/or sub lessee that the property is
being sold.
c. Seller providing to Buyer copies of all CRP contacts, if any, affecting
any of the above described real property. Seller agrees to transfer
remaining CRP payments to which it may be entitled to the Buyer.
e. Access for Scientific Research. The Grantee shall have the right of
physical access to the Property to observe, study and make scientific
observations of its ecosystems upon prior written notice to Grantor. The
Grantee may conduct research at its own expense on waterfowl, wetland
habitats and related subjects. The Grantee’s written notice of such access
shall specify the areas of the Property to which the Grantee requires access,
the persons who will have such access and an estimate of the amount of
time involved. The Grantee agrees to promptly repair any damage caused
by Grantee’s activities on the Property at Grantee’s expense.
4. POSSESSION AND RISK OF LOSS. Possession of the real property shall
transfer to Buyer at the time of closing. Seller shall retain risk of loss until
possession or closing.
5. CLOSING DATE. The parties hereto agree that closing shall be held at
______________________, as soon as practicable after a commitment for title
insurance evidencing clear and marketable title, subject to easements, reservations
Purchase and Sale Agreement 1