Contract Of Sale (Plain English Version) {NY 008} | Pdf Fpdf Doc Docx | New York

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Contract Of Sale (Plain English Version) {NY 008} | Pdf Fpdf Doc Docx | New York

Last updated: 3/20/2007

Contract Of Sale (Plain English Version) {NY 008}

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<document>NY 008 -CONTRACT OF SALE NYSLTA 8041 (Rev. 11/78)WARNING:NO REPRESENTATION IS MADE THAT THIS FORM OF CONTRACT FOR THE SALE AND PURCHASE OF REAL ESTATE COMPLIES WITH SECTION 5-702 OF THE GENERAL OBLIGATIONS LAW ( PLAIN ENGLISH ). CONSULT YOUR LAWYER BEFORE SIGNING IT. NOTE: FIRE AND CASUALTY LOSSES: This contract form does not provide for what happens in the event of fire or casualty loss before the title closing. Unless different provision is made in this contract, Section 5-1311 of the General Obligations Law will apply. One part of that law makes a purchaser responsible for fire and casualty loss upon taking of title to or possession of the premises. CONTRACT OF SALE made as of theday of, in the year BETWEENDATE:PARTIES:COURT COUNTY OF. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .Address::::::::Index No.hereinafter called SELLER , who agrees to sell;Calendar No.andJUDICIAL SUBPOENAPlaintiff(s) -against-Defendant(s)Address:hereinafter called PURCHASER who agrees to buy the property, including all buildings and improvements thereon (the PREMISES ), more fully described on a separate page marked Schedule A, and also known as:PREMISES:. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .Street Address:Tax Map Designation:THE PEOPLE OF THE STATE OF NEW YORK TOTogether with SELLER'S interest, if any, in streets and unpaid awards as set forth in Paragraph 9.PERSONALPROPERTY:The sale also includes all fixtures and articles of personal property attached to or used in connection with the PREMISES, unless specifically excluded below. SELLER states that they are paid for and owned by SELLER free and clear of any lien other than the EXISTING MORTGAGE(S). They include but are not limited to plumbing, heating, lighting and cooking fixtures, bathroom and kitchen cabinets, mantels, door mirrors, venetian blinds, shades, screens, awnings, storm windows, window boxes, storm doors, mail boxes, weather vanes, flagpoles, pumps, shrubbery, fencing, outdoor statuary, tool sheds, dishwashers, washing machines, clothes dryers, garbage disposal units, range, refrigerators, freezers, air conditioning equipment and installations, and wall to wall carpeting.GREETINGS:WE COMMAND YOU, that all business and excuses being laid aside, you and each of you attend before Court at the the Honorable,located at County ofo'clock in the day of, on the, 20, at or adjourned date, to testify and give evidence as a witness in this action on the part of thenoon, and at any recessed in roomExcluded from this sale are: Furniture and household furnishings,Your failure to comply with this subpoena is punishable as a contempt of court and will make you liable to the party on whose behalf this subpoena was issued for a maximum penalty of $50 and all damages sustained as a result of your failure to comply.PURCHASEPRICE:, one of the Justices of the1. (a) The purchase price is$Court in Witness, Honorableday of, 20 County,Payable as follows:On the signing of this contract, by check subject to collection:$(Attorney must sign above and type name below)By allowance for the principal amount still unpaid on EXISTING MORTGAGE(S):$By a Purchase Money Note and Mortgage from PURCHASER (or assigns) to SELLER:$Attorney(s) forBALANCE AT CLOSING:$ (b) If this sale is subject to an EXISTING MORTGAGE, the Purchase Money Note and Mortgage will also provide that it will remain subject to the prior lien of any EXISTING MORTGAGE even though the EXISTING MORTGAGE is extended or modified in good faith. The Purchase Money Note and Mortgage shall be drawn on the standard form of New York Board of Title Underwriters by the attorney for SELLER. PURCHASER shall pay the mortgage recording tax, recording fees and the attorney's fee in the amount of $Office and P.O. Addressfor its preparation. (c) If any required payments are made on an EXISTING MORTGAGE between now and CLOSING which reduce the unpaid principal amount of an EXISTING MORTGAGE below the amount shown in paragraph 2, then the balance of the price payable at CLOSING will be adjusted. SELLER agrees that the amount shown in paragraph 2 is reasonably correct and that only payments required by the EXISTING MORTGAGE will be made. (d) If there is a mortgage escrow account that is maintained for the purpose of paying taxes or insurance, etc. SELLER shall assign it to PURCHASER, if it can be assigned. In that event PURCHASER shall pay the amount in the escrow account to SELLER at CLOSING.Telephone No.: Facsimile No.: E-Mail Address:Mobile Tel. No.:American LegalNet, Inc. www.USCourtForms.comEXISTINGMORTGAGE(S):2. The PREMISES will be conveyed subject to the continuing lien of EXISTING MORTGAGE(S) as follows: Mortgage now in the unpaid principal amount of $and interest at the rate ofper cent per year, presently payablein installments of $, which include principal, interest, and with any balance of principal being due and payable on SELLER hereby states that no EXISTING MORTGAGE contains any provision that permits the holder of the mortgage to require its immediate payment in full or to change any other term thereof by reason of the fact of CLOSING.ACCEPTABLEFUNDS:3. All money payable under this contract unless otherwise specified, shall be either: a. Cash, but not over one thousand ($ 1,000.00) Dollars, b. Good certified check of PURCHASER, or official check of any bank, savings bank, trust company, or savings and loan association having a banking office in the State of New York, payable to the order of SELLER, or to the order of PURCHASER and duly endorsed by PURCHASER (if an individual) to the order of SELLER in the presence of SELLER of SELLER's attorney. c. Money other than the purchase price, payable to SELLER at CLOSING, may be by check of PURCHASER up to the amount($) dollars, or d. As otherwise agreed to in writing by SELLER or SELLER'S attorney.COURT COUNTY OF SUBJECT TO PROVISIONS:. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .:::::::Index No.Calendar No.TITLECOMPANYAPPROVAL:JUDICIAL SUBPOENA4. The PREMISES are to be transferred subject to: a. Laws and governmental regulations that affect the use and maintenance of the PREMISES, provided that they are not violated by the buildings and improvements erected on the PREMISES. b. Consents for the erection of any structures on, under or above any streets on which

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