Installment Land Purchase Agreement (Draft)

 ,_____,(Buyer), and Larry or LaFon Anderson, 61 Orinda Drive, Conroe, TX 77304, (936) 228-7999, lfa77304@gmail.com, (Sellers) are the only parties to this Installment Land Purchase Agreement. Website is pages.suddenlink,net/lfa77304/waterfront.htm.

The Property subject to this Agreement are two waterfront lots at 134 & 136 Marseille Lane, Desert Shores, CA. 77304. Assessor parcel #s 001-122-59 & 001-122-58. The lots are  50' X 180' & 50' X 190' and extend into the canal water.

Seller sells to Buyer and Buyer purchases from Seller, on the terms and conditions and for the consideration set forth herein a vacant residential lot in the unincorporated area as described above and recorded in Book 6 Page 29 of the FINAL MAPS.

This signed Agreement and a $8305.80 check for the 1st payment... $4,000/lot & the property tax for the one year $152.90 shall be delivered to Seller by ___________, 2014. Buyer and Seller agree that the Seller shall deposit the check and that the sale of the Property referred to in this agreement shall be considered final upon acceptance of the Agreement and payment by the Seller.

In consideration of the covenants and agreements contained herein to be performed by Seller, Buyer agrees to pay Seller the following sums of money as set forth in 1. and 2.:

1. Purchase Price $ 20,000

2. Total Payments $ 20,000 (No interest.)

The 2 Payments, three (3) $ payments (US) plus annual property taxes of $152.90/lot for two years, are payable at the Seller’s mailing address starting June 1, 2014. The final payment of $6,000 is due on June 1, 2016 at the Seller’s mailing address within three (3) calendar days of their due date unless otherwise agreed in writing by Seller and will be assessed a 10% late fee if late.

Time is of the essence of this Agreement and full performance by the Buyer of all his obligations hereunder is and shall be a condition precedent to his right to conveyance hereunder; and should default be made in payment of any installments, taxes or late fees that are not cured within a calendar month of the date of default, then this Agreement on the part of all parties shall be deemed automatically cancelled unless otherwise expressly agreed in writing between Seller and Buyer. In the event of default, Seller shall be allowed to retain all payments made by Buyer as liquidated damages, which will be Seller’s exclusive and only damages for Buyer’s default under this Agreement.

A Grant Deed shall be issued within 14 days of Buyer's last payment and priority mailed to the Buyer only upon Buyer’s payment of all sums owing under the terms of this Agreement . Buyer shall pay all transfer fees, including the $14 recording fee and the documentary transfer taxes for recording the Grant Deed conveying title of the real property subject to this Agreement. At the time of transfer of title to the property subject to this Agreement, Seller agrees that the real properties being sold under this Agreement will be free of liens and encumbrances before transfer, a clear/clean title insurance policy dated in 2004 was the last one done. Buyer and Sellers agree no escrow, title insurance or surveys are needed for this "as is where" is sale.

 The addresses for notification purposes are contained in this Agreement. Seller and/or Buyer may change such addresses by mailing or emailing the change to the addresses noted above. All payments called for under this Agreement must be paid in full before the property can be used, encumbered, sold or conveyed by the Buyer.

This Agreement is the only Agreement for this Property between the Buyer and the Seller. This Agreement may only be modified in writing and must be signed by both Seller or assigns and Buyer.

In witness whereof, all parties made & accepted this Agreement on or before _____________, 2014.