Indiana Land Purchase Agreement
I. Introduction
This Land Purchase Agreement ("Agreement") is entered into as of the 1st day of March, 2050, by and between [Your Company Name], a corporation organized and existing under the laws of the State of Indiana, with its principal office located at [Your Company Address], ("Seller"), and SteelEagle, a company incorporated under the laws of Indiana, with its principal office located at Indianapolis, IN 46201, ("Buyer").
This Agreement sets forth the terms and conditions under which the Seller agrees to sell, and the Buyer agrees to purchase, certain real property located in Indianapolis, IN, as specified in Exhibit A attached hereto.
II. Definitions
1. "Property"
The term "Property" refers to the real estate located at 1234 Example Lane, Indianapolis, IN 46201, comprising approximately 10 acres of land, as more fully described in Exhibit A.
2. "Purchase Price"
The "Purchase Price" refers to the total amount of $1,200,000, which the Buyer agrees to pay to the Seller for the Property.
3. "Effective Date"
The "Effective Date" refers to the date upon which this Agreement is executed by both parties, and which shall be the 1st day of March, 2050.
III. Sale of Property
Seller agrees to sell and Buyer agrees to purchase the Property described above for the agreed-upon Purchase Price of $1,200,000, payable as outlined in the subsequent sections of this Agreement.
IV. Purchase Price and Payment Terms
1. Payment Method
The Buyer agrees to pay the Purchase Price of $1,200,000 to the Seller as follows:
A deposit of $120,000 upon the execution of this Agreement, which shall be held in escrow by ABC Title Company, to be applied towards the Purchase Price at closing.
The remaining balance of $1,080,000 shall be paid in full at the closing of this transaction.
2. Payment Schedule
The Buyer shall make the following payments according to the following schedule:
V. Closing
1. Closing Date
The closing of the sale of the Property (the "Closing") shall occur on or before 30th day of June, 2050, or on such other date as the parties mutually agree in writing.
2. Place of Closing
The Closing shall take place at the offices of ABC Title Company, located at 4567 Real Estate Blvd, Suite 100, Indianapolis, IN 46201, or such other location as the parties agree upon.
3. Conditions Precedent to Closing
The following conditions must be met prior to the Closing:
The Seller shall have delivered to the Buyer a deed transferring title to the Property.
All conditions outlined in this Agreement, including the payment of the Purchase Price, shall be satisfied.
VI. Representations and Warranties
1. Seller's Representations
The Seller represents and warrants to the Buyer that:
The Seller is the sole owner of the Property and has the full right and authority to sell it.
The Property is free from any encumbrances, except as disclosed to the Buyer in writing.
The Seller will provide clear title to the Property at closing.
2. Buyer's Representations
The Buyer represents and warrants to the Seller that:
VII. Governing Law
This Agreement shall be governed by and construed in accordance with the laws of the State of Indiana.
VIII. Miscellaneous
1. Entire Agreement
This Agreement constitutes the entire understanding between the parties with respect to the sale of the Property and supersedes all prior or contemporaneous agreements, representations, and understandings.
2. Amendments
This Agreement may only be amended in writing, signed by both parties.
IX. Signatures
This Agreement is executed as of the date written below.
For Seller
[Your Name]
[Your Company Name]
For Buyer
Philip Mitchell
SteelEagle
If you have any questions or need further clarification, please contact [Your Name] at [Your Email] or reach out to [Your Company Name] at [Your Company Email].
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