PURCHASE TERMS OF USE H5 Land Ventures LLC | H5 Land Ventures

WARNING: This document has substantial legal consequences. Parties are advised to consult legal and tax counsel.

PARTIES

Seller: H5 Land Ventures LLC, 10810 N Tatum Blvd Ste 102-861, Phoenix, AZ 85028 | Phone: 516-522-0835 | Email: dave@h5landventures.com

Buyer: The individual or entity entering into this agreement with H5 Land Ventures LLC.

AGREEMENT TO SELL AND PURCHASE

Seller agrees to sell, and Buyer agrees to buy the property identified by its Parcel ID and Legal Description as specified in the executed contract documents. All property sold is collectively referred to as the “Property.”

SALES PRICE

The Purchase Price, Down Payment, and Balance Due are as specified in the executed contract. A one-time processing fee is due at signing.

FINANCING OPTIONS

Buyer may purchase under one of the following arrangements:

CASH SALE: The transaction is not contingent on financing. Full payment is made at closing.

OWNER FINANCING: Seller agrees to finance a portion of the purchase price via a Promissory Note from Buyer to Seller, bearing interest per annum as specified, payable in even monthly installments over the agreed term, plus a Note Servicing Fee and estimated property taxes, secured by a Land Contract. The first payment begins approximately 30 days from the contract date.

DOWN PAYMENT

Buyer deposits the agreed down payment amount with H5 Land Ventures LLC. Receipt of the down payment is acknowledged upon execution of this agreement.

PROPERTY CONDITION

Buyer represents that they have personally inspected and examined the Property and accepts it in its “as-is” and present condition. Seller is not aware of wetlands, shoreland, flood plains, hazardous substances, petroleum products, or underground storage tanks on or affecting the Property, except as otherwise stated in the contract.

OUR GUARANTEE (TERMS CONTRACT)

H5 Land Ventures LLC provides a 60-Day Satisfaction Guarantee from the date of down payment. If, for any reason, the Buyer is unsatisfied with the Property, H5 Land Ventures LLC agrees to either exchange the property or refund all monies, minus closing costs, payment fees, and accounting setup fees.

UTILITIES

The present condition of all utility access to the Property is accepted by Buyer.

CLOSING

The closing of the sale will occur on or before the date specified in the contract, unless extended pursuant to the terms herein. Closing may be extended up to 7 days after title objections have been cured, or by written agreement of the parties.

TITLE AND CONVEYANCE

Seller will convey title to Buyer by Warranty Deed. Prior to or at closing, Seller shall satisfy all outstanding mortgages, deeds of trust, and special liens affecting the Property not assumed by Buyer. Title shall be good and marketable, subject only to:

(a) Covenants, conditions, and restrictions of record (b) Public and private utility easements, roads, and rights-of-way (c) Applicable zoning ordinances, protective covenants, and prior mineral reservations (d) Special and other assessments on the Property, if any (e) General taxes for the current year and subsequent years

A title report will not be provided to Buyer at closing. Buyer may conduct their own title search at their own expense.

If title defects are found, Seller shall notify Buyer within 5 days of closing. Buyer may then: (a) cancel the contract and receive a full refund of all earnest money or down payment, (b) accept title as-is, or (c) permit Seller a reasonable time to perform curative work at Seller’s expense, with the closing date extended accordingly.

For owner-financed transactions, Seller holds the Title Warranty Deed until the Property is fully paid. Seller warrants the Property Title will remain free from loans, liens, or encumbrances throughout the payment period. Upon full payoff, Seller will record the Warranty Deed to the applicable county within 30 days.

APPRAISAL, SURVEY, AND INSPECTION

Any appraisal of the Property is the sole responsibility of Buyer. A survey is not required.

POSSESSION AND TITLE

Prior to closing, the Property shall remain in the possession of Seller.

CLOSING COSTS

If closed through a title company, closing costs are allocated as follows:

Attorney / Title Company Fees — Buyer
Title Insurance — Buyer
Title Abstract or Certificate — Buyer
Recording Fees — Seller
Appraisal — Buyer
Survey — Buyer
Transfer Taxes — Seller
All Other Closing Costs — Buyer

No closing costs to Buyer if closing directly with Seller.

PRORATIONS

Taxes for the current year, interest, maintenance fees, assessments, dues, and rents, if any, will be prorated through the Closing Date. Adjustments will be made when current-year tax statements become available.

PAYMENTS (OWNER FINANCING)

Payments are due 30 days from the contract date and monthly thereafter.
A grace period of 10 days is allowed from the payment due date.
Payments 10 or more calendar days late will incur a late fee.
There are no prepayment penalties. The note may be paid off at any time, with only accrued interest assessed to the date of payoff.
Payments made by credit or debit card are subject to a 3% processing fee.
Property taxes will be billed monthly on a pro-rated basis. If taxes increase, Buyer will be notified and the monthly tax fee adjusted accordingly.

DEFAULT

BUYER DEFAULT: If Buyer fails to comply with this contract, Seller may (a) enforce specific performance and seek relief as provided by law, or (b) terminate the contract and retain the earnest money as liquidated damages, releasing both parties from the agreement.

For owner-financed transactions: If Buyer is in default of a monthly payment by 35 days, Seller will notify Buyer by email. Buyer then has 30 days to bring payments current. If full payment is not received, the property will be considered foreclosed and Buyer forfeits all interest and payments made. Prior to that, if Buyer misses a payment, Seller will send a certified letter providing 30 days to make payment before the contract is terminated and the land re-sold.

SELLER DEFAULT: If Seller fails to comply due to factors beyond Seller’s control (e.g., inability to make non-casualty repairs or deliver clear title), Buyer may (a) extend performance time up to 15 days, or (b) terminate the contract and receive a full refund of earnest money. If Seller fails for any other reason, Buyer may (a) enforce specific performance or (b) terminate the contract and receive the earnest money.

PROPERTY USE RESTRICTIONS (OWNER FINANCING)

Buyer acknowledges and agrees that the Property may not be used as Buyer’s primary residence until the Promissory Note is paid in full and legal title has transferred from Seller to Buyer. Occupying the Property as a primary residence prior to full payoff constitutes a material breach of this contract.

Buyer shall comply, at Buyer’s sole cost, with all applicable federal, state, and local statutes, ordinances, zoning regulations, and codes at all times.

Until the Promissory Note is paid in full, Buyer accesses and uses the Property at Buyer’s own risk. Buyer releases, indemnifies, and holds harmless H5 Land Ventures LLC, its members, managers, agents, and assigns from any and all claims, liabilities, damages, or expenses arising out of Buyer’s entry, presence on, or use of the Property prior to legal title transfer, except where caused by Seller’s willful misconduct.

Seller holds the right to limit the amount of timber removed from the Property to only that area needed to place a dwelling or structure, until the total purchase price including interest is paid in full.

Buyer shall not dump or store environmentally hazardous waste on the Property.

ATTORNEY’S FEES

The prevailing party in any legal proceeding arising from this contract is entitled to recover all costs and reasonable attorney’s fees from the non-prevailing party.

REPRESENTATIONS

Seller represents that as of the Closing Date: (a) there will be no liens, assessments, or security interests against the Property not satisfied from sales proceeds (except loans assumed by Buyer), and (b) assumed loans will not be in default. If any representation is untrue at closing, Buyer may terminate the contract and receive a full refund of earnest money. All representations survive closing.

FEDERAL TAX REQUIREMENT

If Seller is a “foreign person” as defined by applicable law, or fails to deliver a non-foreign affidavit, Buyer shall withhold from the sales proceeds an amount sufficient to comply with applicable tax law and remit it to the Internal Revenue Service with appropriate tax forms. IRS regulations require written reports if cash in excess of specified amounts is received.

NOTICES

All notices between parties must be in writing and are effective when mailed, hand-delivered, or transmitted by facsimile.

Seller: H5 Land Ventures LLC, 10810 N Tatum Blvd Ste 102-861, Phoenix, AZ 85028 | Phone: 516-522-0835 | Email: dave@h5landventures.com

Buyer: As specified in the executed contract.

ASSIGNMENT

This agreement may not be assigned by Buyer without the prior written consent of Seller. Seller may assign this agreement at any time. This agreement is binding upon the heirs, executors, administrators, successors, and assigns of both parties.

ENTIRE AGREEMENT

This contract constitutes the entire and final agreement between the parties and supersedes all prior agreements, representations, and understandings. No modifications are valid unless made in writing and signed by both parties. Neither party shall be bound by any oral statements, warranties, or representations not contained herein.

NO BROKER OR AGENTS

Neither party has employed the services of a real estate broker or agent in connection with this transaction. If any agent has been employed by either party, that party alone is responsible for all related expenses outside of this closing.

EMINENT DOMAIN

If the Property is condemned by eminent domain after the effective date of this agreement, Seller and Buyer shall mutually agree to continue or cancel the closing. If no agreement is reached, the contract remains valid and Buyer is entitled to cancellation with a full return of the down payment.

GOVERNING LAW

This contract shall be governed by the laws of the State of Arizona.

TIME IS OF THE ESSENCE IN THE PERFORMANCE OF THIS AGREEMENT.

H5 Land Ventures LLC 10810 N Tatum Blvd Ste 102-861 Phoenix, AZ 85028 Phone: 516-522-0835 Email: dave@h5landventures.com Website: H5 Land Ventures

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