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THIS FORM IS JOINTLY APPROVED BY THE LAWRENCE HOME BUILDERS ASSOCIATION - page 1 / 8

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THIS FORM IS JOINTLY APPROVED BY THE LAWRENCE HOME BUILDERS ASSOCIATION

AND THE LAWRENCE BOARD OF REALTORS® [REV.  7/09]

RESIDENTIAL CONSTRUCTION

SALE CONTRACT

1.Parties.  This Contract is made by and between: , as SELLER, and

, as BUYER, whether one or more.  The "Effective Date" shall be the date of final acceptance by the last party to sign this agreement and or addendum attached hereto.

2.Real Estate.  In consideration of the mutual promises and covenants herein contained, and subject to the conditions herein set forth, Seller hereby sells and Buyer hereby purchases the following described real estate (the "Premises"), upon which there is to be constructed or completed a dwelling unit (the "Home"):

SUBDIVISION:                        PLAT NO:              LOT NO:               BLOCK NO:           COUNTY:__________

STREET ADDRESS: _______________________________________

CITY:  STATE:  ZIP:

3.Purchase Price$ _________________

a.   Earnest Money in the form of Check Cash, the receipt of which is hereby acknowledged, in the amount of $ ______________  to be deposited upon acceptance of this Contract with:

 _________________________________________

 _________________________________________ , Listing Broker

 _________________________________________ , Other Escrow Agent

 Seller (Funds held by Seller will NOT be held subject to the terms of Paragraph 28).

b.Earnest Money Transferred/Assigned to from Lot Sale Contract

or Lot Reservation Agreement dated , in the amount of $______________

c.Additional Earnest Deposit is to be received on or before                                                   ,              

and Deposited within ten (10) days of receipt with

in the amount of $______________

d.Additional Non-Refundable Deposit to be paid directly to Seller on or before

, in the amount of $______________

e.Other Deposits as Defined in Attached Addendum:  $______________

f.Balance to be Financed (See Attached Financing Addendum)

(not including financed mortgage insurance premiums, or Closing costs, if any)$______________

g.Approximate Amount Due From Buyer at time of Closing, excluding adjustments,

prorations, primary and additional financing as set forth in attached financing addendum

Closing costs, and/or pre-paid expense, if any, said amount to be in the form of Cash,

Certified or Cashier's Check on the Closing Date:  $______________

4.Closing, Possession and Disbursement of Proceeds. The "Closing Date" means the later of (i)              ,  20      ;

or (ii) days (180 days if left blank) after satisfaction or waiver of all financing or other contingencies hereunder, or such earlier date after issuance of a certificate of occupancy or temporary certificate of occupancy as may be

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