Contract To Buy And Sell Real Estate (Income-Residential) {CBS2}

CBS 2 - 5 - 1 9 . CONTRACT TO BUY AND SELL REAL ESTATE (INCOME RESIDENTIAL) Page 1 of 19 The printed portions of this form, except differentiated additions, have been approved by the Colorado Real Estate Commission . 1 (CBS 2 - 5 - 1 9 ) (Mandatory 7 - 1 9 ) 2 3 THIS FORM HAS IMPORTANT LEGAL CONSEQUENCES AND THE PARTIES SHOULD CONSULT LEGAL AND TAX OR 4 OTHER COUNSEL BEFORE SIGNING. 5 6 CONTRACT TO BUY AND SELL REAL ESTATE 7 ( INCOME RESIDENTIAL) 8 ( 1 - 4 Units Larger than 1 - 4 Units) 9 10 Date: 11 AGREEMENT 12 1. AGREEMENT. Buyer agrees to buy and Seller agrees to sell the Property described below on the terms and conditions set 13 forth in this contract (Contract). 14 2. PARTIES AND PROPERTY. 15 2.1. Buyer. (Buyer) will take title 16 to the Property described below as Joint Tenants Tenants In Common Other . 17 2.2. No Assignability. This Contract I S N OT assignable by Buyer unless otherwise specifie d in Additional Provisions . 18 2.3. Seller. (Seller) is the current 19 owner of the Property described below. 20 2.4. Property. The Property is the following legally described real estate in the County of , Colorado: 21 22 23 24 25 26 known as No. , 27 Street Address City State Zip 28 together with the interests, easements, rights, benefits, improvements and attached fixtures appurtenant thereto and all interest of 29 Seller in vacated streets and alleys adjacent thereto, except as herein excluded (Property). 30 2.5. Inclusions. The Purchase Price includes the following items (Inclusions): 31 2.5.1. Inclusions Attached . If attached to the Property on the date of this Contract, t he following items are 32 included unless excluded under Exclusions : lighting, heating, plumbing, ventilating and air conditioning units , TV antennas, inside 33 telephone, network and coaxial (cable) wiring and connecting blocks/jacks , plants, mirrors, floor coverings, intercom systems, built - 34 in kitchen appliances, sprinkler systems and controls, built - in vacuum systems (including accessories) and garage door openers 35 ( including remote controls ) . If checked, the following are ow ned by the Seller and included (leased items should be listed 36 under Due Diligence Documents ) : None Solar Panels Water Softeners Security Systems Satellite Systems 37 (including satellite dishes). If any additional items are attached to the Property after the date of this Contract, such additional items 38 are also included in the Purchase Price. 39 2.5.2. Inclusions Not Attached . If on the Property, whether attached or not, on the date of this Contract, the 40 following items are included unless excluded under Exclusions : storm windows, storm doors, window and porch shades, awnings, 41 blinds, screens, window coverings and treatments, curtain rods, drapery rods, fireplace inserts, fireplace screens, fireplace grates, 42 heating stoves, storage sheds , carbon monoxide alarms, smoke/fire detectors and all keys. 43 2.5.3 . Personal Property Conveyance . Any personal property must be conveyed at Closing by Seller free and 44 clear of all taxes (except personal property taxes for the year of Closing), liens and encumbrances, except . 45 Conveyance of all personal property will be by bill of sale or other applicable legal instrument. 46 2.5.4 . Other Inclusions . The following items, whether fixtures or personal property, are also included in the 47 Purchase Price : 48 49 50 51 52 American LegalNet, Inc. www.FormsWorkFlow.com CBS 2 - 5 - 1 9 . CONTRACT TO BUY AND SELL REAL ESTATE (INCOME RESIDENTIAL) Page 2 of 19 2.5. 5 . Parking and Storage Facilities. T he use or ownership of the following parking facilities: 53 ; and the use or ownership of the following storage facilities: . 54 Note to Buyer: If exact rights to the parking and storage facilities is a concern to Buyer , Buyer should investigate . 55 2.6. Exclusions. The following items are excluded (Exclusions): 56 57 58 59 2.7. Water Rights / Well Right s . 60 2.7.1 . Deeded Water Rights. The following legally described water rights: 61 62 63 64 Any deeded water rights will be conveyed by a good and sufficient d eed at Closing. 65 2.7.2. Other Rights Relating to Water. The following rights relating to water not included in 247247 2.7.1, 2.7.3 and 66 2.7.4, will be transferred to Buyer at Closing: 67 68 69 70 2.7.3. Well Rights. Seller agrees to supply required information to Buyer about the well. Buyer understands that if 71 72 Buyer must, prior to or at Closing, complete a Change in Ownership form for the well. If an existing well has not been regist ered 73 with the Colorado Division of Water Resources in the Department of Na tural Resources (Division), Buyer must complete a 74 registration of existing well form for the well and pay the cost of registration. If no person will be providing a closing se rvice in 75 connection with the transaction, Buyer must file the form with the Divis ion within sixty days after Closing. The Well Permit # is 76 . 77 2.7.4. Water Stock Certificates. The water stock certificates to be transferred at Closing are as follows: 78 79 80 81 2.7. 5 . Conveyance. If Buyer is to receive any rights to water pursuant to 247 2.7.2 (Other Rights Relating to Water), 82 247 2.7.3 (Well Rights), or 247 2.7.4 (Water Stock Certificates), Seller agrees to convey such rights to Buyer by executing the a pplicable 83 lega l instrument at Closing. 84 3. DATES , DEADLINES AND APPLICABILITY . 85 3.1. Dates and Deadlines . 86 Item No. Reference Event Date or Deadline 1 247 4.3 Alternative Earnest Money Deadline Title 2 247 8.1 , 8.4 Record Title Deadline 3 247 8.2 , 8.4 Record Title Objection Deadline 4 247 8.3 Off - Record Title Deadline 5 247 8.3 Off - Record Title Objection Deadline 6 247 8. 5 Title Resolution Deadline 7 247 8.6 Right of First Refusal Deadline Owners Association 8 247 7. 2 Association Documents Deadline 9 247 7.4 Association Documents Termination Deadline Seller s Disclosure s 10 247 10.1 Seller s Property Disclosure Deadline 11 247 10.1 0 Lead - Based Paint Disclosure Deadline Loan and Credit 1 2 247 5.1 New Loan Application Deadline 1 3 247 5.2 New Loan Termination Deadline 1 4 247 5.3 Buyer s Credit Information Deadline 1 5 247 5.3 Disapproval of Buyer s Credit Information Deadline 1 6 247 5.4 Existing Loan Deadline American LegalNet, Inc. www.FormsWorkFlow.com CBS 2 - 5 - 1 9 . CONTRACT TO BUY AND SELL REAL ESTATE (INCOME RESIDENTIAL) Page 3 of 19 1 7 247 5.4 Existing Loan Termination Deadline 1 8 247 5.4 Loan Transfer Approval Deadline 1 9 247 4.7 Seller or Private Financing Deadline Appraisal 20 247 6.2 Appraisal Deadline 2 1 247 6.2 Appraisal Objection Deadline 2 2 247 6.2 Appraisal Resolution Deadline Survey 2 3 247 9.1 New ILC or New Survey Deadline 2 4 247 9. 3 New ILC or New Survey Objection Deadline 2 5 247 9. 3 New ILC or New Survey Resolution Deadline Inspection and Due Diligence 2 6 247 10. 3 Inspection Objection Deadline 27 247 10.3 Inspection Termination Deadline 2 8 247 10.3 Inspection Resolution Deadline 2 9 247 10.5 Property Insurance Termination Deadline 30 247 10.6 Due Diligence Documents Delivery Deadline 3 1 247 10. 6 Due Diligence Documents Objection Deadline 3 2 247 10.6 Due Diligence Documents Resolution Deadline 3 3 247 10.6 Environmental Inspection Termination Deadline 3 4 247 10.6 ADA Evaluation Termination Deadline 3 5 247 10. 7 Conditional Sale Deadline 3 6 247 10.10 Lead - Based Paint Termination Deadline 3 7 247 11.1 , 11.2 Estoppel Statements Deadline 3 8 247 11. 3 Estoppel Statements Termination Deadline Closing and Possession 3 9 247 12.3 Closing Date 40 247 17 Possession Date 4 1 247 17 Possession Time 4 2 247 28 Acceptance Deadline Date 4 3 247 28 Acceptance Deadline Time Note: If FHA or VA loan boxes are checked in 247 4.5.3 (Loan Limitations), the Appraisal deadlines DO NOT apply to FHA insured 87 or VA guaranteed loans. 88 3. 2 . Applicability of Terms. Any box checked in this Contract means the corresponding provision applies. If a ny deadline 89 bl ank in 247 3.1 ( Dates and Deadlines ) is , 90 is not applicable and the corresponding provision containing the deadline is deleted. If no box is checked in a provision tha t c ontains 91 92 93 4. PUR