2006 NS Contract - Property Acquisition: Walnut Grove Church Road

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li. PROPERTY INSPECTION, APPRAISAL, INVESTIGATION (Choose ONLI' ONE otthe following Alternatives): Q ALTERNATIVE 1: fa) Soit, ~~'ater, Utilities And Environmental Contingency: This contract is contingent upon Buffer obtainin<~ re,airns) that Vii) th; soil is suitable for Bu~~er's Intended Use; (ii) utilities and ~.yater are available w the Proprm~. (iii) there is ro environmental cor,tamir,ation, !.ni~. rule or re~~ulation that prohibits. restricts yr limitc Buyer's Intended_l'se. and (ivj there is no tloi,d n;riarc; ;hat proh,hrts. restricts c* lim;ts Buyers Intended lase (u~~iecti~c!: the "Reh_r'~"1 .All costs and expenses ~~foht,:inin_ the• Rep~',ns shall ire brinte b~ Bu}er Bu~.er s!t,al use 13u~er's bc~r cffort~ t~~ i~b„i;r, t;cti }::ports. If the Reni~rts cannot he obtained. Bu~cr may ,ent;in.ae this cimtr~ct ~r~i~', the [=arrest '~tuncs D~pusit shall be ref~.utde~ ru t3u~er. Buyer •~.+ai~es thu condition unless Bu~.er pri~tiides ~+rtten nuuce to Seiler b` that this condition cannot he satiated, time hein~;, of the essence. (b) Sewer S.~stern Icl:~eck orals ONF i_ ^ Buyer h rs in~~est gated the costs and expenses to '.nsr<+II the se•.~rr system approved be the Improvement Prm~it attached hereto as Exhibit A and hereby approves and accepts said Impruycment Permit- ^ Seller represents tha[ the system has been installed, which representatii>n suni~es Closine. but mai:es no funkier representations as to the c)stcm. Buser acknowledges receipt of the Improvement Permit attached hereto as Exhibit A. Buyer shall have the option of inspecting or obtaining, at Buyer's expense, inspection(s) to determine the condition of the system. If the system is nut pert<~r7rting the function for «hich intended and is in need of immediate repair. Buyer may terminate this Contract and the Earnest Money Deposit shall be refunded to Buyer. Buyer wanes this condition unless Buyer provides ~~ritten notice to Seller by that this condition cannot be satisfied, time being of the essence. ^ This contract is continent open ^ Buyer ^ Seller ("Responsible Party") obtaining an Improvement Pemtit or written evaluation from the County Health Department ("County") fora (check only ONE) ^ com~entional or ^ other ground absorption sewage system fora bedroom home. All costs and expenses of obtaining such Permit or written evaluation shall he borne by Responsible Pam' unless othenaise agreed. In any event Seller, by no later than , shall be responsible for clearing that portion of the Proper` required by the County to perform its tests. andior inspections. Responsible Pam shall use best efforts to obtain such Perniit or ~~ritten evaluation. If the Improvement Permit ire written evaluation from the County cannot be obtained by (date), either pan tna} terminate this Contract and the Earnest Money Deposit shall be refunded to Buyer. ^ Buyer has investigated and approved the availability. costs and expenses to connect to a ^ public or ^ community sewer system. (c) Appraisal Contingency: The Property must appraise at a value equal to or exceeding the purchase price or, at the option of Buyer.. this contract may he tern~inated and all earnest monies shall be refunded to Buyer. If this contract is not subject to a financin~~ contingency requiring an appraisal, Buyer shall arrange to have the appraisal completed on or before The cost of the appraisal shall be borne by Buyer. (d) CLOSING SHALL CONSTITUTE ACCEPTANCE OF THE PROPERTY IN ITS THEN EXISTIN(; CONDITION UNLESS PROVISION IS OTHER«'15E MADE IN V1-'KITING ^ ALTEKNATIVE 2: (This .411ernatrve npplres Orti'LY' rf ~lternatire 7 is checked ,~IA~D Buyer has paid the Option Feel (a) Property Investigation with Option to Terminate: In consideration of the sum set forth in paragraph 2(c) paid by Buyer to Seller (not Escrow Agent) and other valuable consideration,. the sufficiency of which is hereby acknowled,ed (the "Option Fee"). Buyer shall have the right to terminate this contract for any reason or no reason, whether related to the physical condition of the Propem~ or otherytiise, by delivering to Seller ~7itten notice of termination (the "Termination Notice") by ~~OU p.m. on time being of the essence (the "Option Termination Date"). At any time prior ro Closing., Buyer shall have the ri~~ht to inspect. the Property at Buyer's expense (Buyer is advised to have all inspections and appraisals of the Property.. includin; but not limited to those matters set i'on,h in Alternative 1, pertbrmed prior to the Option Tern~ination Date). (b) Exercise of Option: if Buyer delivers the Termination lutice prior to the Option Tcmtination Date, time being ~,f the essence, this contract shall become null and void and all earnest monies received in connection here~tiith shall be refunded to Buyer; however, the Option Fee will not he refunded and shall be retained by Seller. if Buyer fails to deliver the Tem~ination Notice to Seller prior to the Option Termination Date.. then Buyer will be deemed to have accepted the Property in its physical condition existing as of the Option Termination Date; provided such acceptance shall not constitute a waiver of any rights Buyer has under paragraph 3. The Option Fee is not refundable, rs not a part of any earnest monies, and will be credited to the purchase price at Closing. (c) CLOSING SHALL CONSTITUTE ACCEPTANCE OF TFiE PROPERTY IN ITS THEN EXISTING CONDITION I:NLESS PROS"ISfON IS OTHERWISE !NADF IN ~~'RITINC Pa~_e 3 of -: STANDARD FOKAI 12 - T Buyer Initials Seller Initials ~ r;~.L_.- ~~ 7120Q6 P~oouced wRh ZiuForm*~ by RE FonnsNer. LlC t$OZS F!tteen Mi'~? Rca~7 C!ir,tOn Township,PAiChigan 4BOs5 •NxN ZiDrorm Con crat?Ircc