Free Real Estate Purchase Agreement

I. Agreement Overview

This Real Estate Purchase Agreement ("Agreement") is made and entered into on January 2, 2050, by and between [Your Company Name], a corporation with its primary office located at [Your Company Address] (hereinafter referred to as the "Seller"), and ClearFifty, a corporation with its primary office located at San Bernardino, CA 92401 (hereinafter referred to as the "Buyer").

This Agreement establishes the terms and conditions under which the Seller agrees to sell and the Buyer agrees to purchase the real property described below.

II. Property Description

The real property subject to this Agreement is described as follows:

1. Location: 674 Riverside Drive, San Bernardino, CA 92401.

2. Size: Approximately 10 acres of commercially-zoned land situated within the city limits of San Bernardino, California.

3. Parcel Number: CA-SAN-0109.

4. Legal Description: A full legal description of the Property is provided in Exhibit A, attached hereto.

III. Purchase Price and Payment Terms

1. Total Purchase Price

The total purchase price for the Property is $1,500,000 ("Purchase Price").

2. Earnest Money Deposit

The Buyer shall deposit an earnest money payment of $150,000 ("Deposit") with [Escrow Agent's Name] within five (5) business days after the execution of this Agreement. The Deposit will be applied toward the Purchase Price at closing.

3. Balance of Payment

The remaining balance of the Purchase Price, $1,350,000, shall be paid by the Buyer to the Seller at closing via wire transfer to the Seller’s designated account.

IV. Due Diligence

1. Inspection Rights

The Buyer shall have a due diligence period of 45 days from the effective date of this Agreement during which the Buyer may inspect the Property. The inspections may include, but are not limited to:

• Environmental assessments.

• Title searches and surveys.

• Review of zoning and land-use permits.

• Physical inspection of the land and infrastructure.

2. Termination Rights

The Buyer may terminate this Agreement if the Property fails to meet the Buyer’s expectations based on the inspections. In such a case, the Buyer shall be entitled to a full refund of the Deposit, and the parties shall have no further obligations under this Agreement.

V. Closing

1. Closing Date

The closing of the sale of the Property shall occur on or before April 30, 2050, unless otherwise agreed upon by both parties in writing.

2. Closing Location

Closing shall take place at [Your Company Name]’s designated office or through an online documentation platform.

3. Seller’s Deliverables

At closing, the Seller shall deliver:

• A General Warranty Deed to transfer title to the Property.

• A Title Insurance Policy issued to the Buyer, ensuring clear and marketable title.

• Any documents necessary to transfer any existing utilities or easements associated with the Property.

4. Buyer’s Deliverables

At closing, the Buyer shall deliver:

• The remaining balance of the Purchase Price.

• Any required documents for finalizing the transaction.

VI. Representations and Warranties

1. Seller’s Representations

The Seller represents and warrants that:

• The Seller has full legal title to the Property and the authority to enter into this Agreement.

• The Property is free of any liens, encumbrances, or claims except as disclosed in Exhibit B.

• There are no known material defects, hazardous conditions, or legal disputes related to the Property.

2. Buyer’s Representations

The Buyer represents and warrants that:

• The Buyer has the financial capacity to complete the purchase.

• The Buyer intends to use the Property for lawful business or investment purposes.

• The Buyer will complete all required due diligence investigations within the due diligence period.

VII. Default

1. Buyer’s Default

If the Buyer fails to perform its obligations under this Agreement, including failing to pay the balance of the Purchase Price at closing, the Seller may terminate the Agreement and retain the Deposit as liquidated damages.

2. Seller’s Default

If the Seller fails to perform its obligations, including failing to deliver clear title to the Property at closing, the Buyer may terminate this Agreement and receive a full refund of the Deposit or seek legal remedies.

VIII. Governing Law

This Agreement shall be governed by and construed in accordance with the laws of the State of California. Any disputes arising from or relating to this Agreement shall be resolved in the courts located in California.

IX. Miscellaneous

1. Entire Agreement

This Agreement, including any exhibits and attachments, constitutes the entire understanding between the parties and supersedes all prior agreements or negotiations related to the Property.

2. Amendments

Any amendments to this Agreement must be made in writing and signed by both parties.

3. Severability

If any provision of this Agreement is deemed invalid or unenforceable, the remaining provisions will continue in full force and effect.

X. Termination Conditions

This Agreement may be terminated under the following conditions:

1. By mutual written consent of both parties.

2. By the Buyer if the Property is deemed unsuitable after due diligence.

3. By the Seller if the Buyer fails to perform any obligations under this Agreement.

XI. Signatory Section

This Agreement is executed by authorized representatives of both parties as of the date first written above.

For [Your Company Name]

Signed by: [Your Name]
Title: Chief Executive Officer
Date: January 2, 2050

For ClearFifty

Signed by: Charley Stokes
Title: Chief Executive Officer
Date: January 2, 2050

For further inquiries, please contact [Your Name] at [Your Email] or reach out to [Your Company Name] at [Your Company Email].

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