ASSIGNMENT OF PURCHASE AGREEMENT

Seller And/Or Assigns (“Seller”):

Buyer And/Or Assignee (“Buyer”):

Property Address:

County:

For the purchase price of:

This is a legally binding contract entered into this date ________. Receipt is
acknowledged of the sum of: _______ earnest money deposit due within 2 business
days of contract, from Buyer as a deposit on account of the purchase price of the
following described property upon the terms and conditions as stated herein.

Earnest money deposit will be retained by seller and released to seller by title company
in any condition where the closing does not occur by the specified closing date at the
fault of the buyer and/or his lender. Earnest money will be released to the seller by the
title company and retained by the seller if at any time, outside of the allotted inspection
period specified later in the contract, the buyer chooses not to purchase the property
outside of any exceptions outlined in this assignment agreement. During the allotted
inspection period in this contract, the buyer may terminate this agreement and receive
the entire earnest money deposit refunded. It is expressly agreed that upon the event of
any default or failure on the part of the buyer to comply with the terms and conditions of
this contract that said earnest money deposit is to be paid to Seller as liquidated
damages.

TERMS AND CONDITIONS OF SALE:

Buyer cannot advertise or promote the property prior to close.

Contract is contingent on the buyer providing proof of funds and/or pre-approval letter
from lender, along with buyer information form, due at signing.

It is agreed that time is of the essence with respect to all dates specified in the
agreement and any addenda, riders, or amendments thereto. This means that all
deadlines are intended to be strict and absolute.

Seller agrees to deliver a good and marketable or insurable owner’s title to the property
above described free and clear of all encumbrances except as herein set forth. Buyer
will be responsible for paying closing fees charged by the title company, deed
preparation/document preparation fees, and title exam fees. Buyer agrees to notify
Seller in writing of any defects in title as soon as reasonably possible and if title proves
to be not good and marketable or insurable, the seller is to make title good and
marketable or insurable and shall have a reasonable time from notification so to do. Any
fees related to the title search charged by the title company in the event of a canceled
closing will be the responsibility of the buyer.

This transaction shall be closed, the balance of the moneys due shall be paid, and all
documents signed by the parties hereto on or before____________.

Property is subject to an inspection period of ___ days ending on ________. The

contract is contingent upon Buyer’s partners’ inspection and approval at the sole
discretion of buyer’s partners any time before the end of inspection time. Seller shall
convey title to Buyer at the time of the closing by a good and sufficient warranty deed
free and clear of all liens and encumbrances.

The parties hereto further agree that this written contract and the attached Addendums
expresses the entire agreement between the parties and that there is no other
agreement, oral or otherwise, modifying the terms hereunder.

The undersigned jointly and severally agree to purchase and sell the above-described
property on the terms and conditions stated in the foregoing instrument and attached
addendum that must be attached and included as part of this contract.

Possession of said premises will be given to the buyer at the time of closing unless
otherwise specified. This contract is not assignable. Taxes, rent and rent securities shall
be prorated at the time of closing and paid by the seller. Property Tax shall be prorated
using the Long Proration method.

If at any time prior to the buyer closing on the property the seller closes and possesses
title to the property, this contract may be used as a purchase agreement, instead of an
assignment, with the same terms and conditions applying.

Seller agrees to deliver premises at time of closing in an as-is condition. In case the
property is destroyed, wholly or partially, by fire or other casualty prior to closing, Buyer
or Seller shall have the option for Ten (10) days thereafter of proceeding or terminating
agreement.

Said property is being sold and purchased subject to zoning ordinances and
regulations; building restrictions; and conditions, restrictions and easements of Public
Record.
There is no financing contingency. This opportunity is for ‘cash’ buyers only. If using a
hard money lender or an IRA, a proof of funds is required at time of acceptance. Proof
of funds is also required to those purchasing using cash.

Buyer expressly waives the remedy of specific performance in the event seller is unable
to convey title.

Buyer waives right to record a lis pendens against the property or to record the
agreement or memorandum thereof in the real property records. Buyer waives the right
to invoke any other equitable remedy that may be available that, if invoked, would
prevent the Seller from conveying the property to a third-party buyer.

Seller reserves the right to market for, and accept, backup offers on the property
throughout the pendency of the assignment agreement.

Buyer acknowledges that since the exact figures for property taxes may be unknown at
this time, and understands that the tax Proration’s on the settlement statement may be
based on estimates or the prior year’s taxes. In the event that taxes were paid for the
preceding year on unimproved basis, the Proration’s are based on estimates for the
current year. In the event that taxes for the preceding year were paid on improved basis
and the exact current tax amounts are unavailable, Proration’s are based on amounts
for the preceding year. It is understood that there WILL BE NO ADJUSTMENTS made
between seller and buyer after closing.

Inspection examinations, certifications, appraisals, research, closings, repair estimates,

repairs, or other services may be performed by vendors or contractors selected or
recommended by Seller as a convenience to the parties. Buyer agrees to hold harmless
the Sellers as to the performance or nonperformance and cost of such vendors or
contractors and is using such vendor or information obtained by such vendors at their
own risk.

The undersigned agrees that they have the full authority to execute this document
personally and for any organization they represent or will represent. By signing you
agree that you have read, understand, and have the full power and authority to enter
into this legal agreement. If you do not understand this document, please seek legal
counsel prior to signing. The undersigned acknowledges receipt of a copy of this
document.

In the event there is any conflict between this addendum and the contract, the terms of
this addendum take precedence and shall prevail, except as otherwise provided by
applicable law.
The CLOSING OF THIS TRANSACTION shall constitute as acknowledgement by the
Buyer(s) that THE PREMISES WERE ACCEPTED WITHOUT REPRESENTATION OR
WARRANTY OF ANY KIND OR NATURE AND IN ITS PRESENT “AS IS CONDITION
BASED SOLELY ON BUYER’S OWN INSPECTION.

BUYER: DATE SELLER: DATE