Common use of Purchase Price for the Real Property Clause in Contracts

Purchase Price for the Real Property. a. The purchase price of the Real Property is ____________________________ Dollars ($XXX,XXX.00) (the “Purchase Price”). b. The purchase price shall be paid as follows: i. At acceptance of bid, the Buyer shall have provided a nonrefundable deposit (hereafter the “Deposit”) in the amount of Six Thousand Dollars ($6,000) to escrow (See Closing and Escrow below). In the event the sale of the Real Property as contemplated hereunder is consummated, the Deposit shall be credited against the purchase price of the Real Property. In the event the sale of Real Property is not consummated because of a default under this Agreement solely on the part of Seller, the Deposit shall be returned to Buyer. If said sale is not consummated for any other reason, including without limitation, a default by Buyer hereunder, then the Deposit shall be paid to and retained by Seller as liquidated damages. The parties have agreed that Seller’s actual damages, in the event of such a default by Buyer, would be extremely difficult or impracticable to determine. By placing their initials below, the parties acknowledge that the Deposit has been agreed upon after negotiation, as the parties’ reasonable estimate of Seller’s damages. Seller_______________ Buyer_________________ ii. The balance of the Purchase Price ___________________________ ($XXX,XXX.00) shall be deposited into Escrow with the Title Company by cash, cashier’s check, bank certified check, or wire transfer no later than 10:00 a.m. on the business day before the Closing Date (as defined below) and shall be paid to Seller in cash at the closing of the sale contemplated hereunder (the “Closing”). Buyer shall deposit the balance of the consideration with [ESCROW COMPANY] (Escrow #XXXX, [ESCROW COMPANY ADDRESS] (“Title Company”). iii. The Closing Date shall be ­­­­­60 ­­­days after the effective date of this Agreement and shall be considered under the terms herein as the “Closing.” Upon mutual agreement of the parties in writing, the Closing Date may be changed to an earlier date or may be extended for a reasonable period of time. The County Administrator, or her designee, may act on behalf of the Seller in agreeing to a change in the Closing Date pursuant to this paragraph, or pursuant to Paragraph 5c. iv. If the Buyer did use a real estate broker, that broker was ________________ [identity of broker] (“Broker”). At Closing, the Seller shall pay Broker’s commission of __% of the Purchase Price out of the funds deposited by the Buyer if: (a) the Broker was indicated on the Bid Proposal; and (b) met the requirements set forth under Item C of the Bid Proposal.

Purchase Price for the Real Property. a. The purchase price of the Real Property is ____________________________ Dollars ($XXX,XXX.00) (the “Purchase Price”). b. The purchase price shall be paid as follows: i. At acceptance of bid, the Buyer shall have provided a nonrefundable deposit (hereafter the “Deposit”) in the amount of Six Five Thousand Dollars ($6,0005,000) to escrow (See Closing and Escrow below). In the event the sale of the Real Property as contemplated hereunder is consummated, the Deposit shall be credited against the purchase price of the Real Property. In the event the sale of Real Property is not consummated because of a default under this Agreement solely on the part of Seller, the Deposit shall be returned to Buyer. If said sale is not consummated for any other reason, including without limitation, a default by Buyer hereunder, then the Deposit shall be paid to and retained by Seller as liquidated damages. The parties have agreed that Seller’s actual damages, in the event of such a default by Buyer▇▇▇▇▇, would be extremely difficult or impracticable to determine. By placing their initials below, the parties acknowledge that the Deposit has been agreed upon after negotiation, as the parties’ reasonable estimate of Seller’s damages. Seller_______________ Seller Buyer_________________ ii. The balance of the Purchase Price ___________________________ ($XXX,XXX.00) shall be deposited into Escrow with the Title Company by cash, cashier’s check, bank certified check, or wire transfer no later than 10:00 a.m. on the business day before the Closing Date (as defined below) and shall be paid to Seller in cash at the closing of the sale contemplated hereunder (the “Closing”). Buyer shall deposit the balance of the consideration with [ESCROW COMPANY] (Escrow #XXXX, [ESCROW COMPANY ADDRESS] (“Title Company”). iii. The Closing Date shall be ­­­­­60 ­­­days 45 days after the effective date of this Agreement and shall be considered under the terms herein as the “Closing.” Upon mutual agreement of the parties in writing, the Closing Date may be changed to an earlier date or may be extended for a reasonable period of time. The County Administrator, or her designee, may act on behalf of the Seller in agreeing to a change in the Closing Date pursuant to this paragraph, or pursuant to Paragraph 5c. iv. If the Buyer did use a real estate broker, that broker was ________________ [identity of broker] (“Broker”). At Closing, the Seller shall pay Broker’s commission of __% of the Purchase Price out of the funds deposited by the Buyer if: (a) the Broker was indicated on the Bid Proposal; and (b) met the requirements set forth under Item C of the Bid Proposal.

Purchase Price for the Real Property. a. The purchase price of the Real Property is ____________________________ Dollars ($XXX,XXX.00) (the “Purchase Price”). b. The purchase price shall be paid as follows: i. At acceptance of bid, the Buyer shall have provided a nonrefundable deposit (hereafter the “Deposit”) in the amount of Six Thousand Dollars ($6,000) to escrow (See Closing and Escrow below). In the event the sale of the Real Property as contemplated hereunder is consummated, the Deposit shall be credited against the purchase price of the Real Property. In the event the sale of Real Property is not consummated because of a default under this Agreement solely on the part of Seller, the Deposit shall be returned to Buyer. If said sale is not consummated for any other reason, including without limitation, a default by Buyer hereunder, then the Deposit shall be paid to and retained by Seller as liquidated damages. The parties have agreed that Seller’s actual damages, in the event of such a default by Buyer, would be extremely difficult or impracticable to determine. By placing their initials below, the parties acknowledge that the Deposit has been agreed upon after negotiation, as the parties’ reasonable estimate of Seller’s damages. Seller_______________ Seller Buyer_________________ ii. The balance of the Purchase Price ___________________________ ($XXX,XXX.00) shall be deposited into Escrow with the Title Company by cash, cashier’s check, bank certified check, or wire transfer no later than 10:00 a.m. on the business day before the Closing Date (as defined below) and shall be paid to Seller in cash at the closing of the sale contemplated hereunder (the “Closing”). Buyer shall deposit the balance of the consideration with [ESCROW COMPANY] (Escrow #XXXX, [ESCROW COMPANY ADDRESS] (“Title Company”). iii. The Closing Date shall be ­­­­­60 ­­­days Thirty (30) days after the effective date of this Agreement and shall be considered under the terms herein as the “Closing.” Upon mutual agreement of the parties in writing, the Closing Date may be changed to an earlier date or may be extended for a reasonable period of time. The County Administrator, or her designee, may act on behalf of the Seller in agreeing to a change in the Closing Date pursuant to this paragraph, or pursuant to Paragraph 5c. iv. If the Buyer did use a real estate broker, that broker was ________________ [identity of broker] (“Broker”). At Closing, the Seller shall pay Broker’s commission of __% of the Purchase Price out of the funds deposited by the Buyer if: (a) the Broker was indicated on the Bid Proposal; and (b) met the requirements set forth under Item C of the Bid Proposal.

Purchase Price for the Real Property. a. 2.1. The purchase price of the Real Property is ____________________________ Dollars ($XXX,XXX.00) (the “Purchase Price”). b. 2.2. The purchase price shall be paid as follows: i. At acceptance of bid2.2.1. As a condition precedent, the Buyer shall have provided a nonrefundable deposit (hereafter the “Deposit”) in the amount of Six Ten Thousand Dollars ($6,00010,000) payable to escrow (See Closing and Escrow below). Turlock Unified School District at the time the Buyer’s Bid was submitted pursuant to the District’s “Bid to Purchase District Property.” In the event that the sale of the Real Property as contemplated hereunder is consummated, the Deposit shall be credited against the purchase price of the Real PropertyPurchase Price. In the event the sale of Real Property is not consummated because of a default under this Agreement solely on the part of Seller, the Deposit shall be returned to Buyer. If said sale is not consummated for any other reason, including without limitation, a default by Buyer hereunder, then the Deposit shall be paid to and retained by Seller as liquidated damages. The parties Parties have agreed that Seller’s actual damages, in the event of such a default by Buyer▇▇▇▇▇, would be extremely difficult or impracticable to determine. By placing their initials below, the parties Parties acknowledge that the Deposit has been agreed upon after negotiation, as the partiesParties’ reasonable estimate of Seller’s damages. Seller_______________ Seller Buyer_________________ ii2.2.2. The balance of the Purchase Price ___________________________ ($XXX,XXX.00) shall be deposited into Escrow escrow with the ▇▇▇▇▇▇▇ Title Company (the “Title Company”; ▇▇▇▇▇▇▇ ▇▇▇▇▇▇ is the Escrow Officer) by cash, cashier’s check, bank certified check, or wire transfer no later than 10:00 a.m. on the ten (10) business day days before the Closing Date (as defined below) and shall be paid to Seller in cash at the closing of the sale contemplated hereunder (the “Closing”). Buyer shall deposit the balance of the consideration with [ESCROW COMPANY] (Escrow #XXXX, [ESCROW COMPANY ADDRESS] (“Title Company”). iii2.2.3. The Closing Date shall be ­­­­­60 ­­­days 45 days after the effective date Effective Date of this Agreement and shall be considered under the terms herein as the “Closing.” Upon mutual agreement of the parties Parties in writing, the Closing Date may be changed to an earlier date or may be extended for a reasonable period of time. The County AdministratorDistrict Superintendent, the Assistant Superintendent of Business Services, or her designeeother designee of the Superintendent, may act on behalf of the Seller in agreeing to a change in the Closing Date pursuant to this paragraph, or pursuant to Paragraph 5c. iv2.2.4. If the Buyer did use a real estate broker, that broker was ________________ [identity of broker] (“Broker”). At Closing, the Seller shall pay Broker’s commission of __2% of the Purchase Price out of the funds deposited by the Buyer if: (a) the Broker was indicated on the Bid Proposal; and (b) met the requirements set forth under Item C of the “Bid ProposalTo Purchase District Property.”

Purchase Price for the Real Property. a. The purchase price of the Real Property is ____________________________ Dollars ($XXX,XXX.00) (the “Purchase Price”). b. The purchase price shall be paid as follows: i. At acceptance of bid, the Buyer shall have provided a nonrefundable deposit (hereafter the “Deposit”) in the amount of Six Five Thousand Dollars ($6,0005,000) to escrow (See Closing and Escrow below). In the event the sale of the Real Property as contemplated hereunder is consummated, the Deposit shall be credited against the purchase price of the Real Property. In the event the sale of Real Property is not consummated because of a default under this Agreement solely on the part of Seller, the Deposit shall be returned to Buyer. If said sale is not consummated for any other reason, including without limitation, a default by Buyer hereunder, then the Deposit shall be paid to and retained by Seller as liquidated damages. The parties have agreed that Seller’s actual damages, in the event of such a default by Buyer, would be extremely difficult or impracticable to determine. By placing their initials below, the parties acknowledge that the Deposit has been agreed upon after negotiation, as the parties’ reasonable estimate of Seller’s damages. Seller_______________ Buyer_________________ ii. The balance of the Purchase Price ___________________________ ($XXX,XXX.00) shall be deposited into Escrow with the Title Company by cash, cashier’s check, bank certified check, or wire transfer no later than 10:00 a.m. on the business day before the Closing Date (as defined below) and shall be paid to Seller in cash at the closing of the sale contemplated hereunder (the “Closing”). Buyer shall deposit the balance of the consideration with [ESCROW COMPANY] (Escrow #XXXX, [ESCROW COMPANY ADDRESS] (“Title Company”). iii. The Closing Date shall be ­­­­­60 ­­­­­45 ­­­days after the effective date of this Agreement and shall be considered under the terms herein as the “Closing.” Upon mutual agreement of the parties in writing, the Closing Date may be changed to an earlier date or may be extended for a reasonable period of time. The County Administrator, or her designee, may act on behalf of the Seller in agreeing to a change in the Closing Date pursuant to this paragraph, or pursuant to Paragraph 5c. iv. If the Buyer did use a real estate broker, that broker was ________________ [identity of broker] (“Broker”). At Closing, the Seller shall pay Broker’s commission of __% of the Purchase Price out of the funds deposited by the Buyer if: (a) the Broker was indicated on the Bid Proposal; and (b) met the requirements set forth under Item C of the Bid Proposal.

Purchase Price for the Real Property. a. The purchase price of the Real Property is ____________________________ Dollars ($XXX,XXX.00) (the “Purchase Price”). b. The purchase price shall be paid as follows: i. At acceptance of bid, the Buyer shall have provided a nonrefundable deposit (hereafter the “Deposit”) in the amount of Six Thousand Dollars ($6,000) to escrow (See Closing and Escrow below). In the event the sale of the Real Property as contemplated hereunder is consummated, the Deposit shall be credited against the purchase price of the Real Property. In the event the sale of Real Property is not consummated because of a default under this Agreement solely on the part of Seller, the Deposit shall be returned to Buyer. If said sale is not consummated for any other reason, including without limitation, a default by Buyer hereunder, then the Deposit shall be paid to and retained by Seller as liquidated damages. The parties have agreed that Seller’s actual damages, in the event of such a default by Buyer, would be extremely difficult or impracticable to determine. By placing their initials below, the parties acknowledge that the Deposit has been agreed upon after negotiation, as the parties’ reasonable estimate of Seller’s damages. Seller_______________ Buyer_________________ ii. The balance of the Purchase Price ___________________________ ($XXX,XXX.00) shall be deposited into Escrow with the Title Company by cash, cashier’s check, bank certified check, or wire transfer no later than 10:00 a.m. on the business day before the Closing Date (as defined below) and shall be paid to Seller in cash at the closing of the sale contemplated hereunder (the “Closing”). Buyer shall deposit the balance of the consideration with [ESCROW COMPANY] (Escrow #XXXX, [ESCROW COMPANY ADDRESS] (“Title Company”). iii. The Closing Date shall be ­­­­­60 ­­­days Thirty (30) days after the effective date of this Agreement and shall be considered under the terms herein as the “Closing.” Upon mutual agreement of the parties in writing, the Closing Date may be changed to an earlier date or may be extended for a reasonable period of time. The County Administrator, or her designee, may act on behalf of the Seller in agreeing to a change in the Closing Date pursuant to this paragraph, or pursuant to Paragraph 5c. iv. If the Buyer did use a real estate broker, that broker was ________________ [identity of broker] (“Broker”). At Closing, the Seller shall pay Broker’s commission of __% of the Purchase Price out of the funds deposited by the Buyer if: (a) the Broker was indicated on the Bid Proposal; and (b) met the requirements set forth under Item C of the Bid Proposal.

Purchase Price for the Real Property. a. (a) The purchase price of the Real Property is ____________________________ Seven Hundred and Fifty Thousand Dollars ($XXX,XXX.00750,000.00) (the “"Purchase Price”"). b. (b) The purchase price Purchase Price shall be paid as follows: i. At acceptance of bid, the (i) Buyer shall have provided provide a nonrefundable deposit (hereafter referred to as the “Deposit”) in the amount of Six Thirty Thousand Dollars ($6,00030,000) to escrow (See Closing and Escrow below) within ten (10) days of the Effective Date of this Agreement. Buyer shall deposit the Deposit with Fidelity National Title Company (Escrow #FSNX-7051500598-CT), ▇▇▇▇ ▇▇▇▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇▇▇ ▇▇▇, ▇▇▇▇▇ ▇▇▇▇, ▇▇ ▇▇▇▇▇. In the event the sale of the Real Property as contemplated hereunder is consummated, the Deposit shall be credited against the purchase price of the Real Property. In the event the sale of Real the Property is not consummated because of a default under this Agreement solely on the part of Seller, the Deposit shall be returned to Buyer. If said sale is not consummated for any other reason, including without limitation, a default by Buyer hereunder, then the Deposit shall be paid to and retained by Seller as liquidated damages. The parties have agreed that Seller’s actual damages, in the event of such a default by Buyer▇▇▇▇▇, would be extremely difficult or impracticable to determine. By Therefore, by placing their initials below, the parties acknowledge that the Deposit has been agreed upon after negotiation, as the parties’ reasonable estimate of Seller’s damages. Seller_______________ Seller Buyer_________________ (ii. ) The balance of the Purchase Price ___________________________ ($XXX,XXX.00720,000) shall be financed with two loans secured by a Deed of Trust, a Community Development Block Grant (CDBG) loan in the amount of $600,000 and a Seller Carry-Back loan in the amount of $120,000. The Seller Carry-Back Deed of Trust is attached hereto as Exhibit “B”, executed by ▇▇▇▇▇, and shall be paid to Seller in accordance with an Installment Note, attached hereto as Exhibit “C”, executed by ▇▇▇▇▇. All loan documents for both the CDBG and the Seller Carry-Back loans shall be deposited into Escrow with the Title Company by cash, cashier’s check, bank certified check, or wire transfer no later than 10:00 a.m. on or before the business day before the Closing Date (as defined below) and ). The interest rate for the Seller Carry-Back Installment Note shall be paid to Seller in cash at based on the closing U.S. Department of the sale contemplated hereunder (Treasury Daily Treasury Yield Curve Rate for a 1-year term for the “Closing”). Buyer shall deposit date of approval by the balance Seller’s Board of Directors to execute the consideration with [ESCROW COMPANY] (Escrow #XXXX, [ESCROW COMPANY ADDRESS] (“Title Company”)sale. (iii. ) The Closing Date shall be ­­­­­60 ­­­days One-hundred twenty (120) days after the effective date Effective Date of this Agreement and shall be considered under the terms herein as the “Closing.” Upon mutual agreement of the parties in writing, the Closing Date may be changed to an earlier date or may be extended for a reasonable period of time. The General Manager of the Sonoma County Administrator, or her designee, Water Agency may act on behalf of the Seller in agreeing to a change in the Closing Date pursuant to this paragraph, or . The Executive Director of the Sonoma County Community Development Commission may act on behalf of the Seller in agreeing to a change in the Closing Date pursuant to Paragraph 5cthis paragraph. iv. If the Buyer did use a real estate broker, that broker was ________________ [identity of broker] (“Broker”). At Closing, the Seller shall pay Broker’s commission of __% of the Purchase Price out of the funds deposited by the Buyer if: (a) the Broker was indicated on the Bid Proposal; and (b) met the requirements set forth under Item C of the Bid Proposal.

Purchase Price for the Real Property. a. The purchase price of the Real Property is ____________________________ Dollars ($XXX,XXX.00) (the “Purchase Price”). b. The purchase price shall be paid as follows: i. At acceptance of bid, the Buyer shall have provided a nonrefundable deposit (hereafter the “Deposit”) in the amount of Six Thousand Dollars ($6,000) to escrow (See Closing and Escrow below). In the event the sale of the Real Property as contemplated hereunder is consummated, the Deposit shall be credited against the purchase price of the Real Property. In the event the sale of Real Property is not consummated because of a default under this Agreement solely on the part of Seller, the Deposit shall be returned to Buyer. If said sale is not consummated for any other reason, including without limitation, a default by Buyer hereunder, then the Deposit shall be paid to and retained by Seller as liquidated damages. The parties have agreed that Seller’s actual damages, in the event of such a default by Buyer▇▇▇▇▇, would be extremely difficult or impracticable to determine. By placing their initials below, the parties acknowledge that the Deposit has been agreed upon after negotiation, as the parties’ reasonable estimate of Seller’s damages. Seller_______________ Seller Buyer_________________ ii. The balance of the Purchase Price ___________________________ ($XXX,XXX.00) shall be deposited into Escrow with the Title Company by cash, cashier’s check, bank certified check, or wire transfer no later than 10:00 a.m. on the business day before the Closing Date (as defined below) and shall be paid to Seller in cash at the closing of the sale contemplated hereunder (the “Closing”). Buyer shall deposit the balance of the consideration with [ESCROW COMPANY] (Escrow #XXXX, [ESCROW COMPANY ADDRESS] (“Title Company”). iii. The Closing Date shall be ­­­­­60 ­­­days Thirty (30) days after the effective date of this Agreement and shall be considered under the terms herein as the “Closing.” Upon mutual agreement of the parties in writing, the Closing Date may be changed to an earlier date or may be extended for a reasonable period of time. The County Administrator, or her designee, may act on behalf of the Seller in agreeing to a change in the Closing Date pursuant to this paragraph, or pursuant to Paragraph 5c. iv. If the Buyer did use a real estate broker, that broker was ________________ [identity of broker] (“Broker”). At Closing, the Seller shall pay Broker’s commission of __% of the Purchase Price out of the funds deposited by the Buyer if: (a) the Broker was indicated on the Bid Proposal; and (b) met the requirements set forth under Item C of the Bid Proposal.