Purchase & Sale Agreement for Lot 3 Daley Field� Oct. 23, 2001
Community Development Department
The City Of Kalispell
P.O. Box 1997
To Whom It May Concern:
I hereby submit an offer to purchase Lot 3, Daley Field Subdivision, Kalispell, MT for
Murcon Development, Inc., whom I represent. The offer includes an original and 2
copies. The original earnest money note is held by RE Glacier Country, Inc., as the
purchase agreement states.
The offer does not include a set of development plans, as the developer/purchaser has not
had time to develop them. The developer/purchaser is, however, very well funded, very
experienced (previous developments under different corp. titles, such as Gascan
Resources Ltd., include Lakewood estates in V�hitefish, parts of Ptarmigan in )Whitefish,
and Kalispell Industrial Center Phase I in Kalispell/Somers), and are very good to deal
with. My experience with them in the last 12 years and dozens of transactions has proven
their willingness to promote quality development. Their focus has been in Colorado,
Arizona, California, and Calgary, so they have only taken on small projects here, even
though they own over a 100 acres on Hwy 93 S. and the President, Murph Hannon, lives
in whitefish part time.
The offer has one contingency, and it is considered to be formality, though a necessary
one. The offer on the purchaser's property at 2320 Hwy 93 South is fully funded and
waiting for this transaction. I can answer question pertaining to that situation if necessary.
Thank you for considering this proposal.
Sincerely,
Doug Yenmark
Broker Owner
RE Glacier Country, Inc. WLW
Glacier Country, Inc.
1 Main Street
Kalispell, Montana 59901
Phone: (406) 257-8900
Each Office Independently Owned and Operated
REAL ESTATE PURCHASE AND SALE AGREEMENT AND RECEIPT FOR EARNEST MONEY
REALTOF& THIS IS A LEGALLY BINDING CONTRACT, READ THE ENTIRE DOCUMENT, INCLUDING THE GENERAL PRINTED PROVISIONS ON PAGE 2 AND ANY
ATTACHMENTS, CAREFULLY, BEFORE SIGNING. IF YOU HAVE ANY QUESTIONS CONSULT YOUR ATTORNEY BEFORE SIGNING.
NMAR No. 10232001 PAGE #1 OF 5 Kalispell -, Montana, Dated Oct. 23, 2001
Murcon Development. Inc. as 0 JTROS, 0 TIC, other
(hereinafter called "Buyer") agrees to purchase, and the undersigned Seller agrees to sell the following described real estate hereinafter referred to as "premises"
commonly known as Lot 3 Daley Field Subdivison City of, - Kalispell
County of, Flathead- Montana, legally describedas: Lot 3 Da Field Subdivision
20-28-21 owner(s) of record: The City Of Kalispell Montana, a body politic
(A FULL AND COMPLETE LEGAL DESCRIPTION MUST BE INSERTED OR ATTACHED PRIOR TO EXECUTION BY SELLER, Buyer hereby authorizes broker to insert over his
signature the correct legal description of the premises if unavailable at the time of signing, or to correct the legal description previously entered if erroneous or incomplete)
EARNEST MONEY Earnest monies shall be deposited pursuant to Montana state law or within 3 banking days of all parties final acceptance of this agreement
(a)) Buyer hereby deposits as earnest money and a receipt is hereby acknowledged of Fifty Thousand Dollars
( $50,000.00 ) evidenced by: [:] Cash n Personal Check [-] Cashiers Check X Note Due F1 or Promissory Note
(b) All parties to this transaction agree that such funds will be held in a trust account by RE/NLAX Glacier Country, Inc.
Parties agree that interest accruing on earnest money, if any, while deposited shall be payable to "/MAX Glacier Country, Inc.
and if interest is payable to the broker it is agreed that sums so paid are consideration for services rendered.
(c) The parties agree that Sterling _Title Company shall provide title policy and preliminary report of commitment and the "closing company" for this transaction
shall be Sterling If a long-term escrow/collection is involved, then the escrow holder shall be NA
1. TOTAL PURCHASE PRICE IS Nine Hundred Thousand Dollars (U.S.)
"QQ1Qq9.QQ_ payable as follows:
S50,00O&O earnest money to be applied at dosing
as additional cash down payment, payable on or before closing (Closing costs are additional.)
$850,000.00 balance of the purchase price will be paid as follows: (M.I.P. not included)
2. FINANCING. Buyer to secure the following financing: F] FHA, E] VA, E] Conv, 0M.B.O.H., nFmHA,Fl Assumption of existing loan(s), n Seller -Financing
(a) [I NEW FINANCING. Purchase loan balance, as noted above, for a period of — years at % per annum (if FHA or VA loan is sought, read the applicable
provisions on the reverse side hereof.) Buyer shall pay no more than points plus origination fee if any. Seller shall pay no more than points
to obtain above described financing. Any reduction in points shall first accrue to the benefit of the 0 Buyer 0 Seller
(b) El ASSUMPTION. Buyer to ASSUME and 0 will or 0 will not be required to qualify for an EXISTING LOAN(S) of approximately $
including % interest with monthly payments of approximately $ P 1:1 1 1:1 T 1:1 1
-0 This agreement does 0 does not require Lender to release Sellers liability. Type of loan
(See items #15 and #16 on reverse side.)
3. OTHER FINANCING, TERMS AND / OR CONDITIONS:See addendem page 5.
4. CONTINGENCIES.
(a) ❑ None (no contingencies apply)
(b) ❑ Sellers Contingency Waiver F] IS in effect IS NOT in effect. See # 17 on page 2
5. ADDENDA ATTACHED: (The Addenda checked below constitute an integral part of this Agreement).
[] RADON F1 LEAD -BASED PAINT ❑ PERSONAL PROPERTY/FIXTURES [_]SALE OF PROPERTY
El INSPECTION n FINANCING/ASSUMPTION MEGAN'S LAW [:] OTHER
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6. PERSONAL PROPERTY. The following items, free of liens and without warranty of condition, are included: (FHA IVA see item# 16 on reverse side:) 45
IN A Property has 9 smoke detectors 46
7. FIXTURES SPECIFICALLY EXCLUDED IN THIS SALE: 47
8- COSTS PAID BY: Costs in addition to those listed below may be incurred by Buyer and Seller. Unless otherwise agreed herein, or provided by law or required by lender, 4a
Buyer shall purchase Sellers reserve account if loan is assumed. Buyer's Extended Coverage Title Policy requested. Yes /=\
Additional premium paid by NA (See item #19 on reverse side) 0 UIV N o 49
50
Ifrequested6j--1ende-r—or--6flh-e-r—wise
Costs
Paid By
Appraisal
stated
Loan
Assumpt.
herein, the below
Water
Test
costs will be
Pump/Inspect.
Septic
paid as indicated.
Water
Rights
Transfer
Contract and/or Closing
Document Agent's
Prep. Fee
Long Term
Escrow
Fees
Opening
Escrow
Existing
SID's
Lender
Required
Repairs
Other
BUYER
0
0
0
0
0
0
0
0
0
0
0
0
N/A
O_*
(0)
SELLER
0
0
0
0—
—o—
0
SHARE EQUALLY
0
0-
ni
If cost of lender required repairs exceed $ NA buyers obligation to purchase and sellers obligation to sell terminates.
X;N
9. POSSESSION. Buyer shall be entitled to possession kT) dosing 0 other
"Closing" means the date on which all documents are either recorded or accepted by an escrow agent and the sale proceeds are available to Seller. Taxes and water
assessments (using the last available assessment as a basis), rents, interest and reserves, liens, encumbrances, or obligations assumed, and utilities shall be pro -rated as of
closing Buyer shall pay for fuel in tank, amount to be determined by the supplier at Sellers expense. (See Item #23 on reverse side)
10. CLOSING. on or before the dosing date, Buyer and Seller shall deposit with the closing agency all funds and instruments necessary to complete the sale. The closing date
shall be no later than Dec. 21, 2001. or as soon as is agreeable to both parties. (See Item #24 on reverse side)
selwwyefs StatutMnoual
11. IMPORTANT -REPRESENTATION DISCLOSURE. At the time of signing this agreement the broker working with the seller is a 013roker \J Broker
OBroker rroker
Sellers /.-\ Buyer's n statutory Dual
and the broker working with the buyer is ao Broker U4P Broker %-,.r Broker 0 Broker Each party signing this document confirms that prior written disclosure of
relationship was provided to him/her in this transaction. Each party to this transaction has read and understands the contents of the relationship disclosure previously received.
Listing Office: NA Selling Office: RE/MAX Glacier Country, Inc.
By: Phone: By: Done Denmark Phone: 406 257-8900
12. ACCEPTANCE. Buyers offer is made subject to the acceptance of Seller on or beforePM of Nov. 7,2001 If Seller does not
---..-------
accept I ' a merit with' ti time fi the entire, Earnest Money shall be refunded to Buyer on demand. TIME IS OF THE ESSENCE K iHIS AGREEMENT.
Buyer: X V Buyers Address:
Buyer: X— N� Buyer's Phone: Residence Busines
On this date, I I we hereby approve and accept the sale set forth in the above agreement and agree to carry out all the terms thereof on the part of the Seller.
IlWe further ackogwledge receipt of truiKcopy phis agree t sign by parties.
Seller: XC*—A-A-4,At--tAA-- Sellers Address:
Seller: X Date Seller's Phone: Residence Busines
THE PROVISIONS CONTAINED ON PAGE 2 OF THIS FORM SHALL ALSO CONSTITUTE PART OF THE AGREEMENT OF THE PARTIES.
EACH OF THE PARTIES ACNKOWLEDGES READING THIS AGREEMENT IN FULL.
Copyright Northwest Montana Association of REALTORS, February, 2000 form PUR1 0200
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NMAR NO. 10232001 PAGE # 2 OF 5 DATED Oct. 23, 2001
13. DEFAULT AND ATTORNEY'S FEES. If Seller executes this agreement, and title to said premises is marketable and insurable and the Buyer neglects or
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refuses to comply with the terms or any conditions of sale within five (5) days from the date on which said term or condition is to be complied with, then the Earnest Money
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shall be forfeited and considered as liquidated damages to Seller, and Buyer's interest in the premises shall be immediately terminated. The Broker shall pay from said
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Earnest Money the costs of title insurance, escrow fees, attorney fees and any other expenses directly incurred in connection with this transaction and the remainder shall
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be apportioned one-half to the Seller and one-half to the Broker, provided the amount to Broker does not exceed the agreed commission. Such forfeiture and acceptance
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by Seller and broker of the Earnest Money as liquidated damages may constitute a waiver of other remedies available to Seller and Broker.
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In the event of default by either of the parties in their performance of the terms and conditions or litigation regarding this agreement, the defaulting parry agrees to pay all
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attorney fees and costs incurred by the non -defaulting party, and their brokers, including the deductible costs of E & O Liability insurance coverage.
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14• EARNEST MONEY DISPUTES. In the event of a dispute between the parties as to the Earnest Money deposited hereunder by Buyer, the Broker, holding
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the Earnest Money deposit may file an interpleader action in a court of competent jurisdiction to resolve any such dispute between the parties. The Buyer and the Seller
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authorize the Broker holding the Earnest Money deposit to utilize as much of the Earnest Money deposit as may be necessary to advance the costs and fees required for
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filing of any such action.
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15. FIXTUKES: All permanently installed fixtures and fittings that are attached to the property, including but not limited to all attached floor coverings attached television
antenna, plumbing, bathroom and lighting fixtures, window screens, storm windows, screen doors, garage door opener, exterior trees, plants or shrubbery, water heating
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apparatus and fixtures, attached fireplace equipment, awnings, ventilating, cooling and heating systems, built in and "drop in" ranges (but excepting all other ranges), fuel
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tanks and irrigation fixtures and equipment, and any and all, if any, water and water rights, and any and all, if any, ditches and ditch rights that are appurtenant thereto that
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are now on or used in connection with the premises shall be included in the sale unless otherwise provided herein.
1 • FINANCING REQUIREMENTS. If financing is required this agreement is contingent upon Buyer/property qualifying for the above described financing. Buyer
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agrees to make a best effort to procure same. If Buyer does not make written application within five (5) banking days after Seller's acceptance of this agreement then
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Seller's obligation to sell to this Buyer terminates unless otherwise agreed. If the property appraises at less than the contract price, the Earnest Money will be returned to
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the Buyer (less credit report fees or other Buyers costs) and the Buyer's obligation to purchase may terminate at Buyer's option. Upon the denial of financing the Buyer's
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obligation to purchase terminates and the Earnest Money will be returned to the Buyer (less credit report fees or other Buyers costs). If VA or FHA financing is
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contemplated, additional provisions pertaining thereto may be attached thereto and are hereby incorporated herein by reference.
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17. FHA / VA. If this agreement is contingent upon Buyer obtaining FHA or VA financing, Buyer and Seller agree that, notwithstanding any other provisions of this
lob
contract, Buyer shall not be obligated to complete the purchase of the property described herein unless Buyer has received a written statement issued by the FHA or VA
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as applicable setting forth an appraised value of the property (excluding closing costs) equal to or greater than the purchase price herein. The Buyer may, nevertheless,
at his/her sole discretion, proceed under the terms of this agreement provided he/she shall agree to pay in cash the difference between the asking price stated herein
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and the appraised value. Buyer shall in either circumstance be obligated to pay normal closing costs attributable to Buyer including, but not limited to, credit reportfees
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and other loan charges. The appraised valuation is arrived at to determine the maximum mortgage the Department of Housing and Urban Development will insure. HUD
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and VA does not warrant the value or the condition of the property. The purchaser should satisfy him/herself that the price and the condition of the property are
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acceptable.
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It is agreed that any item included in Item #5 is of nominal value less than $100.
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18. SELLER'S CONTINGENCY WAIVER. IF THIS AGREEMENT IS SUBJECT TO Seller's Contingency Waiver, specified in Item #4, Seller shall have the
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right to continue to offer the herein property for sale and to accept offers until such time as said contingencies have been satisfied or waived by Buyer. Should Seller
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receive another acceptable offer to purchase, Seller shall give Buyer three (3) banking days written notice of such offer. In the event Buyer does not waive or satisfy the
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contingencies in writing within the three-day period, then this Agreement shall be terminated and all deposits returned to the Buyer less customary Buyer's costs. In the
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event Buyer does waive or satisfy the contingencies, the Buyer shall proceed to purchase the property under the remaining terms and conditions of this Agreement
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notwithstanding that the terms of the new offer may be more or less favorable. Notice shall be considered given and the three (3) days shall commence on the earlier of
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either personal delivery of notice to the Buyer or two (2) days following the date of mailing evidenced by certification of the postmark on the envelope containing such
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notice. Notice shall expire at midnight on the third banking day after notice. All notices shall be sent to the addresses shown on the front page of this agreement.
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NOTE: ANY WAIVER BY THE BUYER UNDER THIS SECTION WILL BE A WAIVER OF ALL CONTINGENCIES.
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19. TITLE INSURANCE. The Seller shall, within a reasonable time after dosing at Seller's expense, furnish to the Buyer a title insurance policy in the amount of the
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purchase price of the premises showing marketable and insurable title subject to the liens, encumbrances and defects elsewhere set out in this agreement to be discharged
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or assumed by the Buyer. Prior to closing the transaction, the Seller shall furnish to the Buyer a commitment of a title insurance policy showing the condition of the title to
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said premises. Buyer shall have five (5) days from receipt of the commitment or until 24 hours prior to closing, whichever is the less, within which to object in writing to the
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condition of the title. It is agreed that if the title of said premises is not marketable, or cannot be made so within thirty (30) days after notice containing a written statement of
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defects is delivered to the Seller, or if the Seller, having approved said sale fails to consummate the same as herein agreed, the earnest money shall be returned to the
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Buyer and Seller shall pay for the cost of title insurance, escrow and legal fees, if any.
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29 EXTENDED COVERAGE TITLE POLICY. A standard policy of title insurance does not cover certain potential problems or risks such as liens (i.e. a
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legal claim against property for payment of some debt or obligation), boundary disputes, claims of easement, and other matters or claims if they are not of public record at
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time of closing. However, under Montana law, such potential claims against the property may have become legal obligation before the purchase of the home and yet may
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not be of public record until after the purchase. For example, Montana law allows workmen who have built a new home or repaired or remodeled an existing one to file liens
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against that property for a period of time after they last worked on the home. The debt in such cases will become a lien or claim against that property itself and, if not paid
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by the Seller, must be paid by the Buyer to protect the equity in the home. Title insurance companies may be able to issue an "extended coverage" policy for an additional
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premium. In addition to the premium for extended coverage title policy, there may be other costs involved, (i.e. survey, additional dosing fees). Such a policy may protect
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the Buyer against problems such as the above. Of course, even an "extended coverage" policy contains exclusions and will not insure against all potential problems
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orl risks involved in buying property. It is recommended that the Buyer talk to a title insurance company for particulars.
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21 •TITLE CONVEYANCE. Title of Seller is to be conveyed by warranty deed, unless otherwise provided and is to be marketable and insurable except for rights
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reserved in federal patents, state or railroad deed, building or use restrictions, building and zoning regulations and ordinances of any governmental unit, and rights of way
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and easements established or of record. Liens, encumbrances or defects to be discharged by Seller may be paid out of purchase money at date of closing. No liens,
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encumbrances or defects, which are to be discharged or assumed by Buyer or to which title is taken subject to, exists unless otherwise specified herein on the front page of
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this agreement under OTHER FINANCING, TERMS AND / OR CONDITIONS.
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22.RISK OF LOSS. Prior to closing of this sale, all risk of loss shall remain with the Seller, in addition, should the premises be materially damaged by fire or other
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cause prior to dosing, this agreement shall be voidable at the option of the Buyer.
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21INSPECTION. The Buyer hereby acknowledges further that he/she has not received or relied upon any statements or representation by the Broker or his/her
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representatives or by the Seller which are not herein expressed. The Buyer has entered into this agreement relying solely upon information and knowledge obtained from
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his/her own investigation or personal inspection of the premises. This agreement constitutes the whole agreement between the parties and no warranties, including any
warranty of habitability, agreements or representation have been made or shall be binding upon either party unless herein set forth.
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24• PROPERTY TAXES in Montana are paid in arrears. Should prorations at dosing be based on the previous years taxes, Buyer(s) and Seller(s) agree to make the
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proper compensation to each other after any difference is discovered.
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25• BUYER'S REMEDIES: (A) If the Seller fails to accept the offer contained in this agreement within the time period provided in the BUYER'S COMMITMENT
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section, all earnest monies shall be returned to the Buyer.
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(B) If the Seller accepts the offer contained in this agreement but refuses or neglects to consummate the transaction within the time period provided in this agreement the
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Buyer may:
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(1) Demand immediate repayment of all monies that Buyer has paid to the sales representative as Earnest Money, and upon the return of such money the rights and
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duties of Buyer and Seller under this agreement shall be terminated; or
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(2) Demand that Seller specifically perform Seller's obligations under this agreement; or
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(3) Demand monetary damages from Seller for Seller's failure to perform the terms of this agreement.
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SELLER'S REMEDIES: If the Seller accepts the offer contained in this agreement and Buyer refuses to consummate the transaction within the time period
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provided in this agreement, the Seller may:
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(1) Declare the earnest money paid by Buyer to the sales representative be forfeited; or
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(2) Demand that Buyer specifically perform Buyer's duties and obligations under this agreement; or
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(3) Demand that Buyer pay monetary damages for Buyer's failure to perform the terms of this agreement.
26. BUYER'S CERTIFICATION: By entering into this agreement, each person or persons executing this agreement as Buyer represents that he/she is eighteen
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(18) years of age or older, of sound mind, and legally competent to own real property in the State of Montana; and if acting on behalf of a corporation, partnership, or other
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non -human entity that he/she is duly authorized to enter into the agreement on behalf of such entity.
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SELLER'S CERTIFICATION: By entering into this agreement, each person or persons executing this agreement as Seller represents that he/she is 171
eighteen (18) years of age or older, of sound mind, and legally entitled at this time to transfer title to the real property free and clear of all liens and encumbrances except 172
those described in this agreement; and if acting on behalf of a corporation, partnership or other non -human entity that he/she is duly authorized to enter into this 173
agreement on behalf of such entity. 174
27•CONSENT TO DISCLOSE INFORMATION: Buyer and Seller hereby consent to the procurement and disclosure by Buyer, Seller, and sales 175
representatives and their attorneys, and other parties having interests essential to this agreement, of any and all information reasonably necessary to consummate the 176
transaction described in this agreement, specifically including access to escrows for review of contracts, deeds, trust indentures, or similar documents of prior transactions 177
concerning this property or underlying obligations pertaining thereto. 178
28.13INDiNG EFFECT AND NOWASSIGNABILITY: This agreement is binding upon the heirs, successor, and assigns of each of the parties hereto; 179
however Buyers rights under this agreement are not assignable without the Seller's express written consent. 180
29.COMMISSION: The Sellers and/or Buyer's commitment to pay a commission in connection with this transaction is an intergral part of this agreement. 181
3®.FACSIMILE: ies gr t a csi copy o this Agreement and Purchase, and all addenda which contain th parties signatures may be used as 182
th I.
Buyer's Signature Seller's Signature X
COPYRIGHT Northwest Montana Association of REALTORS, March, 2000 form PUR2 0300
a y
REALTOO
_._-�%o,.9.,..l- r11.V,\. FX L.ic�*L-m %LA i i%JN Ur KOLA i 1UNbHIPS IN REAL ESTATE TRANSACTIONS
NMAR NO: 10232001 PAGE 3 OF 5
DATED Oct. 23, 2001
SELLER'S BROKER - a broker or salesperson who, pursuant to a written listing or employment agreement, acts as the
❑ representative of a seller and may include an in-house seller's broker designate.
Your seller broker is obligated to you as follows:
1) to act solely in the best interests of the seller to the exclusion of all other interests, including those of the seller broker;
2) to obey promptly and efficiently all lawful instructions of the seller;
3) to disclose to the seller all revelant and material information that concerns the real estate transaction and that is known by the seller
broker and not known by the seller, unless the information is subject to confidentiality arising from a prior or existing broker's relationship;
4) to safeguard the seller's confidences;
5 to exercise reasonable skill, care and diligence in pursuing the seller's objectives as established in the listing agreement;
6 to fully account to the seller for all funds or property of the seller coming into the seller broker's possession;
7) to comply with all applicable federal and state laws, rules and regulations; and
8) to carry out the terms of the listing agreement.
A seller broker is obligated to a buyer as follows:
1) to disclose to a buyer any adverse material facts that concern the property and that are known to the seller broker,
2) to deal in good faith with the buyer: and
3) to comply with all applicable federal and state laws, rules and regulations.
® BUYER'S BROKER - a broker or salesperson who, pursuant to a written buyer broker agreement, is acting as the representative
of the buyer in a real estate transaction and may include an in-house buyer's broker designate.
Your buyer broker is obligated to you as follows:
1) to act solely in the best interest of the buyer to the exclusion of all other interests, including those of the buyer broker;
2) to obey promptly and efficiently all lawful instructions of the buyer;
3) to disclose to the buyer all relevant and material information that concerns the real estate transaction and that is known by the buyer
broker and not known by the buyer, unless the information is subject to confidentiality arising from a prior or existing brokers relationship;
4) to safeguard the buyer's confidences;
5) to exercise reasonable skill, care and diligence in pursuing the buyer's objectives as established in the buyer/broker agreement;
6) to fully account to the buyer for all funds or property of the buyer coming into the buyer broker's possession;
7) to comply with all applicable federal and state laws, rules and regulations; and
8) to carry out the terms of the buyer broker agreement.
A buyer broker is obligated to a seller as follows:
1) to disclose to a seller any adverse material facts that concern the ability of the buyer to perform on any purchase offer and that are
known to the buyer broker;
2) to deal in good faith with the seller, and
3) to comply with all applicable federal and state laws, rules and regulations.
❑ DUAL BROKER -A broker or salesperson who, pursuant to a written listing or employment agreement and a buyer's broker
agreement, acts as the representative of both the buyer and seller with written authorization of the seller and buyer.
A dual broker is obligated to the buyer and seller as follows:
1) to act solely in the best interests of the buyer and seller to the exclusion of all other interests, including the dual broker's;
2) to obey promptly and efficiently all lawful instructions of the buyer and seller;
3) to disclose to the buyer and seller all relevant and material information that concerns the real estate transaction and that is known by the
dual broker and not known by the buyer and seller, unless the information is subject to confidentiality arising from a prior or existing broker's
relationship:
4) to exercise reasonable skill, care and diligence in pursuing the buyer's and seller's objectives as established in the listing agreement and
buyer broker agreement;
5) to fully account to the buyer and seller for all funds or property of the buyer and seller coming into the dual broker's possession;
6) to comply with all applicable federal and state laws, rules and regulations;
7) to carry out the terms of the buyer broker and listing agreement; and
8) to safeguard the buyer's and seller's confidences, subject to the obligation to disclose to a buyer or a seller any adverse material facts
that are known to the dual broker, regardless of any confidentiality considerations. The following may not be disclosed without written
consent of the party to whom the information is confidential:
a)that the buyer is willing to pay more than the buyer has offered for the property;
b)that the seller is willing to accept less than the asking price for the property;
c)factors motivating the buyer to buy or the seller to sell; and
d)any other information that a party specifically indicates in writing to the dual broker is to be kept confidential and that is not an
adverse material fact.
Ej STATUTORY BROKER - a broker or salesperson who assists one or more parties to a real estate transaction without acting as a
representative of any party to the real estate transaction. A broker or salesperson is presumed to be acting as a statutory broker
unless the broker or salesperson has entered into a listing or employment agreement with a seller or a buyer broker agreement
with a buyer.
A statutory broker is obligated to the parties as follows:
1) to disclose to a buyer any adverse material fact that concerns the property and that is known to the statutory broker and not known to the
buyer. However, the statutory broker is not required to conduct an independent inspection of the property or to verify any representation
made by the seller;
2) to disclose to the seller any adverse material fact that concerns the buyer's intent or ability to perform on the purchase offer and that is
known to the statutory broker and not known to the seller;
3) to exercise reasonable skill, care and diligence in facilitating the purchase and sale of the property; and
4) to comply with all applicable federal and state laws, rules and regulations.
"ADVERSE MATERIAL FACT" means a fact that should be recognized by a broker as being of enough significance as to
affect a person's decision to enter into a contract to buy or sell real property. It may be a fact that materially affects the
value or structural integrity or presents a documented health risk to occupants of the property, but may not include the fact
that an occupant of the property has or has had a communicable disease or that the property was the site of a suicide or
felony, or it may be a fact that materially affects the buyer's ability or intent to perform the buyer's obligations under a
proposed or existing contract.
IF YOU WISH TO SELECT OR APPROVE YOUR CHOICE AT THIS TIME, CHECK THE BOX(ES) OF YOUR CHOICE.
THE UNDERSIGNED ACKNOWLEGES RECEIPT OF THIS STATEMENT DISCLOSING AND DESCRIBING THE
STATUTORY DUTIES OF THE BROKERS AND SALESPEOPLE INVOLVED. CONFIRMATION OF YOUR CHOICE
WILL BE DECLARED ON YOUR NMAR ASSOCIATION BUY -SELL OR PURCHASE AGREEMENT.
DATE E LE-� SELLER: X
BROKER/SA ESPERSON: X BU E : X BUYER: X
Seller's Property Located at: Lot 3 Daley Field Subdivison
COPYRIGHT NORTHWEST MONTANA ASSOCIATION OF REALTORS, September, 1999 form AGC 0999
s.
MEGAN'S LAW DISCLOSURE ADDENDUM
ROW►L igYiNlp
REALTOR® oFFORTuMirr
N M A R NO. 10232001 PAGE # 4 OF 5 DATED Oct 23, 2001
Title 46, Chapter 23, Part 5 of the Montana Code Annotated requires certain individuals to register their
address with the local law enforcement agencies as part of Montana's Sexual and Violent Offender
Registration Act.
For information on these registrations please contact the local county sheriffs office.
You may also contact the Montana Department of Justice in Helena, Montana. Probation officers
assigned to your area may also be able to furnish the data.
The responsibility of a broker or salesperson with respect to sexual or violent offender registration
information maintained by a governmental entity under the above title is limited to disclosure of:
1) The fact that the information may be maintained and by whom; and
2) The actual knowledge, if any, that the broker or salesperson has of sexual or violent
offender registration information that pertains to the property in question.
hereby acknowledge the above disclosure: Dated /43 z C
s
C�
(Client/Customer)
I �ud 1, f
(Broker/Sales erson)
COPYRIGHT NORTHWEST MONTANA ASSOCIATION OF REALTORS, April, 1999 form MGN 0499
ADDENDUM To No. 10232001
In reference to the O Purchase Agreement, 0 Exchange Agreement, 0 Lease, 0 Counter Offe
--- covering the Q real property, 0 business opportunity, 0 premises ---- commonly known a,(,
"t 3 Daley Field Subdivison Kalispell
dated Oct 23 2001 , between Murcon Development, Inc. (buyer's),
and The City Of Kalispell Montana, a body politic (sellers),
the undersigned Parties hereby agree as follows:
ADDENDUM PAGE 5
- 1) It is the intent of the Purchaser to perform an IRC 1031 tax deferred
exchange by trading the property herein with an exchange service of the
the purchaser's choice. The seller agrees to execute an assignment
agreement at the request of the Purchaser at no cost or liability to
the seller.
- 2) This agreement is subject to the successful closing of the sale of the
_purchaser's property at 2320 Hwv 93 South in Kalispell, MT, currently
under contract,prior to closing
3) The purchaser acknowledges that the seller has no -responsibility ,for
utility or access improvements on the subject PropertyThe seller is
still responsible for seeincr that-Flwy 93 access at Kelly-Road,is
performed by IADOT. The -purchaser, will be responsible for their obligations
on.the subject property as it relates to the development of the f;rontaSje
road without modifying or changing the existing agreements in place
with 14DOT, the city, and others.
4) The seller will rQn:LinuQ :Lo persistantly and agressively pursue the
installation of a traffir, light at Eelly Road &.11wy 93 with MDQT.
5) Thp- city shal] reserve adec[uate caj:�acity in the stor-m sewer system for
maximum coverage density for B-2'zoning considering runoff from buildings,
parking lots, driveways, and landscaped areas without additional cost
to the purchaser.
6) The seller shall pay the purchaser's agent 5% of the purchase price.
The herein agreement, upon its execution by both parties, is herewith made an integral part of the aforementioned
Agreement of Sale.
DATED:-1/da-3 60f TIME:
Buyer
111C
DATED: JIME: - V
Seller
Buyer Seller
Witness Licensee Witness Licensee
COPYRIGHT Northwest Montana Association of REALTORS, April, 1999 form A 0499
FOR VALUE RECEIVED, I/we promise to pay to the order of REMAX Glacier Country, Inc. at 1 Main
Street, Kalispell, Montana,
the sum of $ 50,000.00 — — — — — — — — — — — — — — — — — DOLLARS, with interest thereon at the
rate of NA PERCENT per annum from date until paid, in lawful money of the United
States of America, on or before the 21 day of Dec. 31 2001 .
If default shall be made in the payment of any principal or interest, or any part thereof, then, we
Sher agree to pay reasonable collection charges, including attorney fees, and, in the event of suit to
enforce payment, we agree to pay reasonable attorney fees therefore.
The Makers hereof waive presentation, demand, protest and notice thereof.
This note is for earnest money on the following transaction:
Lot 3 Daley Field Subdivision 20-28 A21
STATE OF MONTANA)
: ss Date: Oct. 2 3 , 2 0 0.1
County of Flathead)
On this 2 3 day of Oct . 200 l , before me, the undersigned, a Notary
Public for the State of Montana, personally appeared Murph Hannon,
Murcon Development, Inc . known to me to be the person (s) whose name (s) is/are
subscribed to the foregoing instrument, and acknowledged to me that
he/she/they executed to same.
IN WITNESS WHEREOF, I have hereunto affixed my signature and official seal the date first
above written.
Notary Pultic for the State of Montana
Residing at Ka , , Montana.
(Seal) My commission expires lIZ2`0Z 0.3
ADDENDUM To No. 10232001
In reference to the O Purchase Agreement, 0 Exchange Agreement, 0 Lease, 0 Counter Offe
--- covering the Q real property, 0 business opportunity, 0 premises ---- commonly known ac.
Lot 3 Daley Field Subdivison Kalispell
dated Oct. 23 2001 between Murcon Development, Inc. (buyers),
and The City Of Kalispell Montana, a body politic (sellers),
the undersigned Parties hereby agree as follows:
UPON ACCEPTANCE OF TMS DOCUMENT BY ALL PARTIES IT BECOMES ADDENDA TO THE ABOVE
MENTIONED AGREEMENT.
-1) The purchaser or their facilitator will pay cash to the seller at closing.
2) The acceptance date deadline will be extended to on or before Dec. 4th, 2001, for this and all other documents that are part
of this agreement.
The herein agreement, upon its execution by both parties, is herewith made an integral part of the aforementioned
Agreement of Sale.
ti
DATED: TIME: DATED: ME: � I I2 q C) �
Witness
Buyer
qC444- SelleW,
C — - --
Buyer
Seller
Licensee Witness Licensee
COPYRIGHT Northwest Montana Association of REALTORS, April, 1999 form ADD 0
99
REAL ESTATE PURCHASE AND SALE AGREEMENT AND RECEIPT FOR EARNEST MONEY
THIS I� A LEGALLY BINDING CONTRACT, READ THE ENTIRE DOCUMENT, INCLUDING THE GENERAL PRINTED PROVISIONS ON PAGE 2 AND ANY
ATTACHMENTS, CAREFULLY, BEFORE SIGNING. IF YOU HAVE ANY QUESTIONS CONSULT YOUR ATTORNEY BEFORE SIGNING.
NMAR No. 10232001 PAGE #1 OF ' 5 Kalispell -,Montana, Dated Oct. 23, 2001
Murcon Develo ment, Inc. as 0 JTROS, 0 T/C,
P WA-9 A * other
(hereinafter called "Buyer") agrees to purchase, and the undersigned Seller agrees to sell the following described real estate hereinafter referred to as "premises"
commonly known as Lot 3 Daley Field Subdivison City of, Kalispell
County of, Flathead Montana, legally described as: Lot I ILDalie y Field Subdivision
20-28-21 owner(s) of record:
The City Of Kalis I Montanaa bow p q!LWe
_
(A FULL AND COMPLETE LEGAL DESCRIPTION MUST BE INSERTED OR ATTACHED PRIOR TO EXECUTION BY SELLER, Buyer hereby authorizes broker to insert over his
signature the correct legal description of the premises if unavailable at the time of signing, or to correct the legal description previously entered if erroneous or incomplete)
EARNEST MONEY Earnest monies shall be deposited pursuant to Montana state law or within 3 banking days of all parties final acceptance of this agreement.
(a)) Buyer hereby deposits as earnest money and a receipt is hereby acknowledged of . ..... Fifty Thousand Dollars
( $5%000.00 -) evidenced by: F1 Cash E] Personal Check [:] Cashiers Check N Note Due n or Promissory Note
(b) All parties to this transaction agree that such funds will be held in a trust account by RE/MAX Glacier Country, Inc.
Parties agree that interest accruing on earnest money, if any, while deposited shall be payable to RE/MAX Glacier Country, Inc.
and if interest is payable to the broker it is agreed that sums so paid are consideration for services rendered.
(c) The parties agree that Sterling _Title Company shall provide title policy and preliminary report of commitment and the "dosing company' for this transaction
shall be Sterling If a long-term escrow/collection is involved, then the escrow holder shall be NA
1. TOTAL PURCHASE PRICE IS Nine Hundred Thousand Dollars (U.S.)
$900,000.00 payable as follows:
$50,000.00 earnest money to be applied at closing
as additional cash down payment, payable on or before closing (Closing costs are additional.)
$850,000.00 balance of the purchase price will be paid as follows: (M.I.P. not included)
2. FINANCING. Buyer to secure the following financing: [] FHA, n VA, [] Conv, n M.B.O.H., n FmHA, n Assumption of existing loan(s), ElSeller-Financing
(a) n NEW FINANCING. Purchase loan balance, as noted above, for a period of — years at % per annum (if FHA or VA loan is sought, read the applicable
provisions on the reverse side hereof.) Buyer shall pay no more than points plus origination fee if any. Seller shall pay no more than points
to obtain above described financing. Any reduction in points shall first accrue to the benefit of the 0 Buyer 0 Seller
(b) El ASSUMPTION. Buyer to ASSUME and 0 will or 0 will not be required to qualify for an EXISTING LOAN(S) of approximately $
including % interest with monthly payments of approximately $ ❑P El 1 1:1 T 1:1 1
0 This agreementdoes does not require Lender to release Seller's liability. Type of loan
(See items #15 and #16 on reverse side.)
3. OTHER FINANCING, TERMS AND I OR CONDITIONS:See addendem page 5.
4. CONTINGENCIES.
(a) ❑ None (no contingencies apply)
(b) ❑ Seller's Contingency Waiver n IS in effect IS NOT in effect. See # 17 on page 2
5. ADDENDA ATTACHED: (The Addenda checked below constitute an integral part of this Agreement).
❑ RADON ❑ LEAD -BASED PAINT F] PERSONAL PROPERTY/FIXTURES ❑ SALE OF PROPERTY
❑ INSPECTION ❑ FINANCING/ASSUMPTION N MEGAN'S LAW ❑ OTHER
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6. PERSONAL PROPERTY. The following items, free of liens and without warranty of condition, are included: (FHA IVA see item# 16 on reverse side:) 45
NA Property has # smoke detectors 46
7. FIXTURES SPECIFICALLY EXCLUDED IN THIS SALE:
8- COSTS PAID BY: Costs in addition to those listed below may be incurred by Buyer and Seller. Unless otherwise agreed herein, or provided by taw or required by lender,
Buyer shall purchase Seller's reserve account if loan is assumed. Buyers Extended Coverage Title Policy requested. Yes /--\
Additional premium paid by NA (See item #19 on reverse side) 0 kW) No
If requested
by lender or otherwise
stated
herein, the below
costs will be
paid as indicated. Other
Costs
Paid By
Appraisal
Loan
Assumpt.
Water
Test
Pump/Inspect.
Septic
Water Contract and/or Closing Long Term Lender
Rights Document Agent's Escrow Opening Existing Required
Transfer Prep. Fee Fees Escrow SID's Repairs
BUYER
0
0
0 0 0 0 0 0 0 0
N/A
n-o-
SELLER
0
0
0
SHARE EQUALLY
0
0
0
0
If cost of lender required repairs exceed $ NA
9. POSSESSION. Buyer shall be entitled to possession dosing 0 other
buyer's obligation to purchase and seller's obligation to sell terminates.
"Closing" means the date on which all documents are either recorded or accepted by an escrow agent and the sale proceeds are available to Seller. Taxes and water
assessments (using the last available assessment as a basis), rents, interest and reserves, liens, encumbrances, or obligations assumed, and utilities shall be pro -rated as of
closing Buyer shall pay for fuel in tank, amount to be determined by the supplier at Sellers expense. (See Item #23 on reverse side)
10. CLO—S I N G. On or before the closing date, Buyer and Seller shall deposit with the closing agency all funds and instruments necessary to complete the sale. The closing date
shall be no later than Dec. 21, 2001or as soon as is agreeable to both -parties. -(See Item #24 on reverse side)
Seller'; -)Dual
11. IMPORTANT -REPRESENTATION DISCLOSURE. At the time of signing this agreement the brokerworking with the seller is a , gouyer-soStatutOrY(
OBroker roker Broker \--/Broker
/-\SeUees Buyer's Statutory Dual
and the broker working with the buyer is a�j Broker * Broker Broker 0 Broker Each party signing this document confirms that prior written disclosure of
relationship was provided to him/her in this transaction. Each party to this transaction has read and understands the contents of the relationship disclosure previously received.
Listing Office: NA Selling Office: RE/MAX Glacier Countajne.
By: Phone: By: Doue, Denmark Phone:
-3 ACCEPTANCE. Buyers offer is made subject to the acceptance of Seller on or before 5:00 A.M.OP Mof Nov. 7, 2001 If Seller does not
accept t,�'%ament with' tfkktime the entire Earnest Money shall be refunded to Buyer on demand. TIME IS OF THE ESSENCE IN THIS AGREEMENT.
t�hi t
r
Buyer: X Buyers Address:
Buyer: X— Buyer's Phone: Residence Busines
On this date, I I we hereby approve and accept the sale set forth in the above agreement and agree to carry out all the terms thereof on the part of the Seller.
I/We further a y of this agreempM signed by both parties.
eAV tru le f-M — Date101 Sellers Address:
Seller: -X � =—y-
Seller: X Date Seller's Phone. Residence Busines
THE PROVISIONS CONTAINED ON PAGE 2 OF THIS FORM SHALL ALSO CONSTITUTE PART OF THE AGREEMENT OF THE PARTIES.
EACH OF THE PARTIES ACNKOWLEDGES READING THIS AGREEMENT IN FULL.
Copyright Northwest Montana Association of REALTORS, February, 2000 form PUR1 0200
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N MAR NO. 10232001 PAGE # 2 OF 5 DATED Oct. 23, 2001
13. DEFAULT AND ATTORNEYS FEES. If Seller executes this agreement, and title to said premises is marketable and insurable and the Buyer neglects or
85
refuses to comply with the terms or any conditions of sale within five (5) days from the date on which said term or condition is to be complied with, then the Earnest Money
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shall be forfeited and considered as liquidated damages to Seller, and Buyer's interest in the premises shall be immediately terminated. The Broker shall pay from said
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Earnest Money the costs of title insurance, escrow fees, attorney fees and any other expenses directly incurred in connection with this transaction and the remainder shall
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be apportioned one-half to the Seller and one-half to the Broker, provided the amount to Broker does not exceed the agreed commission. Such forfeiture and acceptance
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by Seller and broker of the Earnest Money as liquidated damages may constitute a waiver of other remedies available to Seller and Broker.
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In the event of default by either of the parties in their performance of the terms and conditions or litigation regarding this agreement, the defaulting party agrees to pay all
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attorney fees and costs incurred by the non -defaulting party, and their brokers, including the deductible costs of E & O Liability insurance overage.
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14• EARNEST MONEY DISPUTES. In the event of a dispute between the parties as to the Earnest Money deposited hereunder by Buyer, the Broker, holding
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the Earnest Money deposit may file an interpleader action in a court of competent jurisdiction to resolve any such dispute between the parties. The Buyer and the Seller
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authorize the Broker holding the Earnest Money deposit to utilize as much of the Earnest Money deposit as may be necessary to advance the costs and fees required for
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filing of any such action.
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15. FIXTURES: All permanently installed fixtures and fittings that are attached to the property, including but not limited to all attached floor coverings attached television
antenna, plumbing, bathroom and lighting fixtures, window screens, storm windows, screen doors, garage door opener, exterior trees, plants or shrubbery, water heating
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apparatus and fixtures, attached fireplace equipment, awnings, ventilating, cooling and heating systems, built in and "drop in" ranges (but excepting all other ranges), fuel
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tanks and irrigation fixtures and equipment, and any and all, if any, water and water rights, and any and all, if any, ditches and ditch rights that are appurtenant thereto that
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are now on or used in connection with the premises shall be included in the sale unless otherwise provided herein.
• FINANCING REQUIREMENTS. if financing is required this agreement is contingent upon Buyer/property qualifying for the above described financing. Buyer
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agrees to make a best effort to procure same. If Buyer does not make written application within five (5) banking days after Seller's acceptance of this agreement then
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Seller's obligation to sell to this Buyer terminates unless otherwise agreed. If the property appraises at less than the contract price, the Earnest Money will be returned to
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the Buyer (less credit report fees or other Buyers costs) and the Buyer's obligation to purchase may terminate at Buyer's option. Upon the denial of financing the Buyer's
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obligation to purchase terminates and the Earnest Money will be returned to the Buyer (less credit report fees or other Buyers costs). If VA or FHA financing is
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contemplated, additional provisions pertaining thereto may be attached thereto and are hereby incorporated herein by reference.
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17. FHA / VA. If this agreement is contingent upon Buyer obtaining FHA or VA financing, Buyer and Seller agree that, notwithstanding any other provisions of this
108
contract, Buyer shall not be obligated to complete the purchase of the property described herein unless Buyer has received a written statement issued by the FHA or VA
log
as applicable setting forth an appraised value of the property (excluding closing costs) equal to or greater than the purchase price herein. The Buyer may, nevertheless,
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at his/her sole discretion, proceed under the terms of this agreement provided he/she shall agree to pay in cash the difference between the asking price stated herein
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and the appraised value. Buyer shall in either circumstance be obligated to pay normal closing costs attributable to Buyer including, but not limited to, credit report fees
112
and other loan charges. The appraised valuation is arrived at to determine the maximum mortgage the Department of Housing and Urban Development will insure. HUD
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and VA does not warrant the value or the condition of the property. The purchaser should satisfy him/herself that the price and the condition of the property are
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acceptable.
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It is agreed that any item included in Item #5 is of nominal value less than $100.
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18. SELLER'S CONTINGENCY WAIVER. IF THIS AGREEMENT IS SUBJECT TO Seller's Contingency Waiver, specified in Item #4, Seller shall have the
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right to continue to offer the herein property for sale and to accept offers until such time as said contingencies have been satisfied or waived by Buyer. Should Seller
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receive another acceptable offer to purchase, Seller shall give Buyer three (3) banking days written notice of such offer. In the event Buyer does not waive or satisfy the
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contingencies in writing within the three-day period, then this Agreement shall be terminated and all deposits returned to the Buyer less customary Buyer's costs. In the
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event Buyer does waive or satisfy the contingencies, the Buyer shall proceed to purchase the property under the remaining terms and conditions of this Agreement
121
notwithstanding that the terms of the new offer may be more or less favorable. Notice shall be considered given and the three (3) days shall commence on the earlier of
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either personal delivery of notice to the Buyer or two (2) days following the date of mailing evidenced by certification of the postmark on the envelope containing such
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notice. Notice shall expire at midnight on the third banking day after notice. All notices shall be sent to the addresses shown on the front page of this agreement.
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NOTE: ANY WAIVER BY THE BUYER UNDER THIS SECTION WILL BE A WAIVER OF ALL CONTINGENCIES.
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19.TITLE INSURANCE. The Seller shall, within a reasonable time after closing at Seller's expense, furnish to the Buyer a title insurance policy in the amount of the
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purchase price of the premises showing marketable and insurable title subject to the liens, encumbrances and defects elsewhere set out in this agreement to be discharged
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or assumed by the Buyer. Prior to closing the transaction, the Seller shall furnish to the Buyer a commitment of a title insurance policy showing the condition of the title to
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said premises. Buyer shall have five (5) days from receipt of the commitment or until 24 hours prior to closing, whichever is the less, within which to object in writing to the
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condition of the title. It is agreed that if the title of said premises is not marketable, or cannot be made so within thirty (30) days after notice containing a written statement of
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defects is delivered to the Seller, or if the Seller, having approved said sale fails to consummate the same as herein agreed, the earnest money shall be returned to the
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Buyer and Seller shall pay for the cost of title insu rance, escrow and legal fees, if any.
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20. EXTENDED COVERAGE TITLE POLICY. A standard policy of title insurance does not cover certain potential problems or risks such as liens (i.e. a
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legal claim against property for payment of some debt or obligation), boundary disputes, claims of easement, and other matters or claims if they are not of public record at
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time of closing. However, under Montana law, such potential claims against the property may have become legal obligation before the purchase of the home and yet may
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not be of public record until after the purchase. For example, Montana law allows workmen who have built a new home or repaired or remodeled an existing one to file liens
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against that property for a period of time after they last worked on the home. The debt in such cases will become a lien or claim against that property itself and, if not paid
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by the Seller, must be paid by the Buyer to protect the equity in the home. Title insurance companies may be able to issue an "extended coverage" policy for an additional
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premium. In addition to the premium for extended coverage title policy, there may be other costs involved, (i.e. survey, additional dosing fees). Such a policy may protect
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the Buyer against problems such as the above. Of course, even an "extended coverage" policy contains exclusions and will not insure against all potential problems
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orl risks involved in buying property. it is recommended that the Buyer talk to a title insurance company for particulars.
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21 •TITLE CONVEYANCE. Title of Seller is to be conveyed by warranty deed, unless otherwise provided and is to be marketable and insurable except for rights
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reserved in federal patents, state or railroad deed, building or use restrictions, building and zoning regulations and ordinances of any governmental unit, and rights of way
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and easements established or of record. Liens, encumbrances or defects to be discharged by Seller may be paid out of purchase money at date of closing. No liens,
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encumbrances or defects, which are to be discharged or assumed by Buyer or to which title is taken subject to, exists unless otherwise specified herein on the front page of
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this agreement under OTHER FINANCING, TERMS AND / OR CONDITIONS.
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22.RISK OF LOSS. Prior to closing of this sale, all risk of loss shall remain with the Seller, in addition, should the premises be materially damaged by fire or other
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cause prior to dosing, this agreement shall be voidable at the option of the Buyer.
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21INSPECTION. The Buyer hereby acknowledges further that he/she has not received or relied upon any statements or representation by the Broker or his/her
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representatives or by the Seller which are not herein expressed. The Buyer has entered into this agreement relying solely upon information and knowledge obtained from
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his/her own investigation or personal inspection of the premises. This agreement constitutes the whole agreement between the parties and no warranties, including any
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warranty of habitability, agreements or representation have been made or shall be binding upon either party unless herein set forth.
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24. PROPERTY TAXES in Montana are paid in arrears. Should prorations at dosing be based on the previous years taxes, Buyer(s) and Seller(s) agree to make the
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proper compensation to each other after any difference is discovered.
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25. BUYER'S REMEDIES: (A) If the Seller fails to accept the offer contained in this agreement within the time period provided in the BUYER'S COMMITMENT
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section, all earnest monies shall be returned to the Buyer.
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(B) If the Seller accepts the offer contained in this agreement but refuses or neglects to consummate the transaction within the time period provided in this agreement the
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Buyer may:
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(1) Demand immediate repayment of all monies that Buyer has paid to the sales representative as Earnest Money, and upon the return of such money the rights and
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duties of Buyer and Seller under this agreement shall be terminated; or
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(2) Demand that Seller specifically perform Seller's obligations under this agreement; or
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(3) Demand monetary damages from Seller for Seller's failure to perform the terms of this agreement.
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SELLER'S REMEDIES: If the Seller accepts the offer contained in this agreement and Buyer refuses to consummate the transaction within the time period
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provided in this agreement, the Seller may:
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(1) Declare the earnest money paid by Buyer to the sales representative be forfeited; or
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(2) Demand that Buyer specifically perform Buyer's duties and obligations under this agreement; or
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(3) Demand that Buyer pay monetary damages for Buyer's failure to perform the terms of this agreement.
26. BUYER'S CERTIFICATION: By entering into this agreement, each person or persons executing this agreement as Buyer represents that he/she is eighteen
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(18) years of age or older, of sound mind, and legally competent to own real property in the State of Montana; and if acting on behalf of a corporation, partnership, or other
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non -human entity that he/she is duly authorized to enter into the agreement on behalf of such entity.
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SELLER'S CERTIFICATION: By entering into this agreement, each person or persons executing this agreement as Seller represents that he/she is
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eighteen (18) years of age or older, of sound mind, and legally entitled at this time to transfer title to the real property free and c'ear of all liens and encumbrances except
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those described in this agreement, and if acting on behalf of a corporation, partnership or other non -human entity that he/she is duly authorized to enter into this
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agreement on behalf of such entity.
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27.CONSENT TO DISCLOSE INFORMATION: Buyer and Seller hereby consent to the procurement and disclosure by Buyer, Seller, and sales
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representatives and their attorneys, and other parties having interests essential to this agreement, of any and all information reasonably necessary to consummate the
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transaction described in this agreement, specifically including access to escrows for review of contracts, deeds, trust indentures, or similar documents of prior transactions
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concerning this property or underlying obligations pertaining thereto.
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28•13INDING EFFECT AND NON -ASSIGNABILITY: This agreement is binding upon the heirs, successor, and assigns of each of the parties hereto;
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however Buyer's rights under this agreement are not assignable without the Sellers express written consent.
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29.COMMISSION: The Sellers and/or Buyer's commitment to pay a commission in connection with this transaction is an intergral part of this agreement.
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30.FACaPIMILE: ies� t a csi copy this Ag ent to Sell and Purchase, and all addenda )Lvhich � ntain th patties signatures may be used as
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th ' � .
� '/ (�
Buyer's Signature _ . - Seller's Signature X
COPYRIGHT Northwest Montana Association of REALTORS, March, 2000 form PUR2 0300
AEALTOR®
�«��•.��uti4 M'4LJ1WM L)CL -AKA 11UN t311- RLLATIONSHIPS IN REAL ESTATE TRANSACTIONS
NMAR NO: 10232001 PAGE 3 OF 5
DATED Oct. 23, 2001
RE
SELLER'S BROKER - a broker or salesperson who, pursuant to a written listing or employment agreement, acts as the
❑ representative of a seller and may include an in-house seller's broker designate.
Your seller broker is obligated to you as follows:
1) to act solely in the best interests of the seller to the exclusion of all other interests, including those of the seller broker;
2) to obey promptly and efficiently all lawful instructions of the seller;
3) to disclose to the seller all revelant and material information that concerns the real estate transaction and that is known by the seller
broker and not known by the seller, unless the information is subject to confidentiality arising from a prior or existing broker's relationship;
4) to safeguard the seller's confidences;
5) to exercise reasonable skill, care and diligence in pursuing the seller's objectives as established in the listing agreement;
6) to fully account to the seller for all funds or property of the seller coming into the seller broker's possession;
7) to comply with all applicable federal and state laws, rules and regulations; and
8) to carry out the terms of the listing agreement.
A seller broker is obligated to a buyer as follows:
1) to disclose to a buyer any adverse material facts that concern the property and that are known to the seller broker,
2) to deal in good faith with the buyer: and
3) to comply with all applicable federal and state laws, rules and regulations.
® BUYER'S BROKER - a broker or salesperson who, pursuant to a written buyer broker agreement, is acting as the representative
of the buyer in a real estate transaction and may include an in-house buyer's broker designate.
Your buyer broker is obligated to you as follows:
1) to act solely in the best interest of the buyer to the exclusion of all other interests, including those of the buyer broker;
2) to obey promptly and efficiently all lawful instructions of the buyer;
3) to disclose to the buyer all relevant and material information that concerns the real estate transaction and that is known by the buyer
broker and not known by the buyer, unless the information is subject to confidentiality arising from a prior or existing brokers relationship;
4) to safeguard the buyer's confidences;
5) to exercise reasonable skill, care and diligence in pursuing the buyer's objectives as established in the buyer/broker agreement;
6) to fully account to the buyer for all funds or property of the buyer coming into the buyer broker's possession;
7) to comply with all applicable federal and state laws, rules and regulations; and
8) to carry out the terms of the buyer broker agreement.
A buyer broker is obligated to a seller as follows:
1) to disclose to a seller any adverse material facts that concern the ability of the buyer to perform on any purchase offer and that are
known to the buyer broker;
2) to deal in good faith with the seller, and
3) to comply with all applicable federal and state laws, rules and regulations.
❑ DUAL BROKER - A broker or salesperson who, pursuant to a written listing or employment agreement and a buyer's broker
agreement, acts as the representative of both the buyer and seller with written authorization of the seller and buyer.
A dual broker is obligated to the buyer and seller as follows:
1) to act solely in the best interests of the buyer and seller to the exclusion of all other interests, including the dual broker's;
2) to obey promptly and efficiently all lawful instructions of the buyer and seller;
3) to disclose to the buyer and seller all relevant and material information that concerns the real estate transaction and that is known by the
dual broker and not known by the buyer and seller, unless the information is subject to confidentiality arising from a prior or existing broker's
relationship:
4) to exercise reasonable skill, care and diligence in pursuing the buyer's and seller's objectives as established in the listing agreement and
buyer broker agreement;
5) to fully account to the buyer and seller for all funds or property of the buyer and seller coming into the dual broker's possession;
6) to comply with all applicable federal and state laws, rules and regulations;
7) to carry out the terms of the buyer broker and listing agreement; and
8) to safeguard the buyer's and seller's confidences, subject to the obligation to disclose to a buyer or a seller any adverse material facts
that are known to the dual broker, regardless of any confidentiality considerations. The following may not be disclosed without written
consent of the party to whom the information is confidential:
a)that the buyer is willing to pay more than the buyer has offered for the property;
b)that the seller is willing to accept less than the asking price for the property;
c)factors motivating the buyer to buy or the seller to sell; and
d)any other information that a party specifically indicates in writing to the dual broker is to be kept confidential and that is not an
adverse material fact.
Fi STATUTORY BROKER - a broker or salesperson who assists one or more parties to a real estate transaction without acting as a
representative of any party to the real estate transaction. A broker or salesperson is presumed to be acting as a statutory broker
unless the broker or salesperson has entered into a listing or employment agreement with a seller or a buyer broker agreement
with a buyer.
A statutory broker is obligated to the parties as follows:
1) to disclose to a buyer any adverse material fact that concerns the property and that is known to the statutory broker and not known to the
buyer. However, the statutory broker is not required to conduct an independent inspection of the property or to verify any representation
made by the seller;
2) to disclose to the seller any adverse material fact that concerns the buyer's intent or ability to perform on the purchase offer and that is
known to the statutory broker and not known to the seller;
3) to exercise reasonable skill, care and diligence in facilitating the purchase and sale of the property; and
4) to comply with all applicable federal and state laws, rules and regulations.
"ADVERSE MATERIAL FACT" means a fact that should be recognized by a broker as being of enough significance as to
affect a person's decision to enter into a contract to buy or sell real property. It may be a fact that materially affects the
value or structural integrity or presents a documented health risk to occupants of the property, but may not include the fact
that an occupant of the property has or has had a communicable disease or that the property was the site of a suicide or
felony, or it may be a fact that materially affects the buyer's ability or intent to perform the buyer's obligations under a
proposed or existing contract.
IF YOU WISH TO SELECT OR APPROVE YOUR CHOICE AT THIS TIME, CHECK THE BOX(ES) OF YOUR CHOICE.
THE UNDERSIGNED .ACKNOWLEGES RECEIPT OF THIS STATEMENT DISCLOSING AND DESCRIBING THE
STATUTORY DUTIES OF THE BROKERS AND SALESPEOPLE INVOLVED. CONFIRMATION OF YOUR CHOICE
WILL BE DECLARED ON YOUR NWAR ASSOCIAT BUY-SF,.LL OR PURCHASE AGREEMENT.
/c C A,,
DATE E LE SELLER: X
BROKER/SA ESPERSON: X BU E : X BUYER: X
Seller's Property Located at: Lot 3 Daley Field Subdivison
COPYRIGHT NORTHWEST MONTANA ASSOCIATION OF REALTORS, September, 1999 form AGC 0999
MEGAN'S LAW DISCLOSURE ADDENDUM
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.0"1.
MOM"
REALTOO coop oil TUNITy
N MA R NO. 10232001 PAGE ## 4 OF 5 DATED Oct 23, 2001
Title 46, Chapter 23, Part 5 of the Montana Code Annotated requires certain individuals to register their
address with the local law enforcement agencies as part of Montana's Sexual and Violent Offender
Registration Act.
For information on these registrations please contact the local county sheriffs office.
You may also contact the Montana Department of Justice in Helena, Montana. Probation officers
assigned to your area may also be able to furnish the data.
The responsibility of a broker or salesperson with respect to sexual or violent offender registration
information maintained by a governmental entity under the above title is limited to disclosure of:
1) The fact that the information may be maintained and by whom; and
2) The actual knowledge, if any, that the broker or salesperson has of sexual or violent
offender registration information that pertains to the property in question.
I hereby acknowledge the above disclosure: Dated
k
(Client/Customer)
L�
(Broker/Sales erson)
COPYRIGHT NORTHWEST MONTANA ASSOCIATION OF REALTORS, April, 1999 form MGN 9499
ADDENDUM To No. 10232001
In reference to the Purchase Agreement, 0 Exchange Agreement, 0 Lease, 0 Counter Offe
-- covering the Q real property, 0 business opportunity, 0 premises ---- commonly known a!
"t 3 Daley Field Subdivison Kalispell
dated Oct. 23 2001 , between Murcon Development, Inc. (buyers),
and The City Of Kalispell Montana, a body politic (sellers
the undersigned Parties hereby agree as follows:
ADDENDUM PAGE 5
.1) it is the intent of the Purchaser to perform an IRC 1031 tax deferred
exchange by trading the property herein with an exchange service of the
the purchaser's choice. The seller agrees to execute an assignment
agreement at the request of the Purchaser at no cost or liability to
the seller.
- 2) This agreement is subject to the successful closing of the sale of the
--purchaser's property at 2320 Hwy 93 South in Kalispell, MT, currently
under contract, prior to closing
— 3) The purchaser acknowledges that the seller has no -responsibility for
utility or access improvements on the aublect property. The seller is
still responsible for seeing that Hwy 93 access at Kelly Road is
Performed by IADOT. The Purchaser will be responsible ;for their obligations
on.the subject property as . it relates to the development of the fronts e
road without modifying or . changing the existing agreements in place
with PEDOT , the city., and others.
4) The seller will continue to persistantly and agressively pursue the
- installation Qf a traffic Ii!;jht at Kelly RQad & Hwy 93 with MDOT,
-9) Thtz-city s-hall reserve ad(=-auatp- cajpacit� e S Q
in th t rm sewer system for
maximum coverage density for B-2 zoning_ considering runofffrom buildings,
parking lots, driveways, and landscaped areas without additional cost
to the purchaser,
6) The seller shall pay the purchaser's agent 50 of the purchase price.
The herein agreement, upon its execution by both parties, is herewith made an integral part of the aforementioned
Agreement of Sale.
DATED:/0 A-3 to( TIME: DATED:- TIME:
Buyer Seller
Buyer Seller
Witness Licensee Witness` Licensee
COPYRIGHT Northwest Montana Association of REALTORS, April, 1999 form ADD 0499
FOR VALUE RECEIVED, I/we promise to pay to the order of REMAX Glacier Country, Inc. at I Main
Street, Kalispell, Montana,
the sum of $— 5 0- -w 00 0.0 0 -----------------
POLLARS, with interest thereon at the
rate of NA PERCENT per annum from date until paid, in lawful money of the United
States of America, on or before the 21 day of Dec, 31 2001
If default shall be made in the payment of any principal or interest, or any part thereof, then, we
further agree to pay reasonable collection charges, including attorney fees, and, in the event of suit to
enforce payment, we agree to pay reasonable attorney fees therefore.
The Makers hereof waive presentation, demand, protest and notice thereof.
This note is for earnest money on the following transaction:
Lot 3 Daley Field Subdivision 20-28-21
-J
STATE OF MONTANA)
: ss Date: Oct. 23, 200.1
County of Flathead)
On this 2 3 _day of Oct 0 200 before me,, the undersigned, a Notary
Public for the State of Montana, personally appeared Murph Hannon,,
T1
Murcon Development, Inc. known to me to be the person (s) whose name (s) is/are
subscribed to the foregoing instrument, and acknowledged to me that
he/she/they executed to same.
IN WITNESS WHEREOF,, I have hereunto affixed my signature and official seal the date first
above written.
Notary Puis for the State of Montana
Residing at Kai, - - Montana.
(Seal) My commission expires rZ 2 0/ 0 3
0 10232001
1 1ADDENDUM To No.
s"
In reference to the Purchase Agreement, 0 Exchange Agreement, 0 Lease, 0 Counter Offe
--- covering the Q real property, 0 business opportunity, 0 premises ---- commonly known a!
Lot 3 Daley Field Subdivison Kalispell
dated Oct. 23 2001 between Murcon Development, Inc. (buyers),
and The City Of Kalispell Montana, a body politic (sellers),
the undersigned Parties hereby agree as follows:
UPON ACCEPTANCE OF THIS DOCUMENT BY ALL PARTIES IT BECOMES ADDENDA TO THE ABOVE
MENTIONED AGREEMENT.
1) The purchaser or their facilitator will pay cash to the seller at closing.
.2) The acceptance date deadline will be extended to on or before Dec. 4th, 2001, for this and all other documents that are part
of this agreement.
The herein agreement, upon its execution by both parties, is herewith made an integral part of the aforementioned
Agreement of Sale. 3 0 P
DATED: TIME: DATED:
Witness
Buyer Seller
Buyer
Seller
Licensee Witness V I A
Licensee
COPYRIGHT Northwest Montana Association of REALTORS, April, 1999 form ADD 0 99