PURCHASE TERMS OF USE

EVERLASTING LAND INC.

10810 N Tatum Blvd, Ste 102-644

Phoenix, Arizona 85028

(602) 456-1499

info@everlastingland.com

AGREEMENT FOR THE SALE AND PURCHASE OF REAL ESTATE

NO BROKER – VACANT RESIDENTIAL LAND

WARNING: THIS CONTRACT HAS SUBSTANTIAL LEGAL CONSEQUENCES AND THE PARTIES ARE ADVISED TO CONSULT LEGAL AND TAX COUNSEL.

FOR VALUABLE CONSIDERATION OF TEN DOLLARS and other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the Buyer (herein “Buyer”) and Everlasting Land Inc. with a mailing address of 10810 N Tatum Blvd, Ste 102-644 Phoenix, Arizona 85028 (herein “Seller”) do hereby covenant, contract and agree as follows:

AGREEMENT TO SALE AND PURCHASE

Seller agrees to sell, and Buyer agrees to buy from Seller the property described as follows:

Parcel ID	Legal Description	Address

All property sold by this contract is called the “Property.”

Items that will NOT remain with the property: N/A

SALES PRICE

The parties agree to the following sales price:

Purchase Price	Down Payment Money	Balance Due / New Loan

FINANCING

The following provisions apply with respect to financing. Buyer selects ONE of the following options:

CASH SALE: This contract is not contingent on financing.

OWNER FINANCING: Seller agrees to finance the purchase price pursuant to a promissory note from Buyer to Seller, bearing interest per annum, payable over a term of months with even monthly payments, plus a Note Servicing Fee, plus estimated taxes, secured by a Land Contract with the first payment to begin on the agreed start date.

DOWN PAYMENT MONEY

Buyer has deposited the agreed amount as down payment money with Everlasting Land Inc. Additionally, the Buyer acknowledges there is a one-time non-refundable processing fee due at signing.

PROPERTY CONDITION

Buyer hereby represents that they have personally inspected and examined the above-mentioned property and accepts the property in its “as-is” and present condition. For Owner Financing purchases, this property is covered by a 60-Day Satisfaction Guarantee as outlined in Section 24 below.

UTILITIES

The present condition of all utility access to the property is accepted by Buyer. Seller is not aware of the existence of wetlands, shoreland or flood plain on or affecting the real property except as follows: None. Seller knows of no hazardous substances or petroleum products having been placed, stored or released from or on the real property by any person in violation of any law, nor of any underground storage tanks having been located on the real property at any time, except as follows: None.

CLOSING

The closing of the sale will be on or before the agreed date unless extended pursuant to the terms hereof. Closing may be extended to within 7 days after objections to matters disclosed in the title abstract, certificate or Commitment or by the survey have been cured. The closing date may also be extended by written agreement of the parties.

TITLE AND CONVEYANCE

Seller is to convey title to Buyer by Warranty Deed. Seller shall, prior to or at closing, satisfy all outstanding mortgages, deeds of trust and special liens affecting the subject property which are not specifically assumed by Buyer herein. Title shall be good and marketable, subject only to:

(a) covenants, conditions and restrictions of record

(b) public, private utility easements and roads and rights-of-way

(d) special and other assessments on the property, if any

(e) general taxes for the current year and subsequent years

A title report shall not be provided to Buyer at closing. Buyer may elect to do their own title search at their own expense. If there are title defects, Seller shall notify Buyer within 5 days of closing and Buyer, at Buyer’s option, may either:

(a) if defects cannot be cured by designated closing date, cancel this contract, in which case all earnest money or down payment monies deposited shall be returned

(b) accept title as is

(c) if the defects are of such character they can be remedied by legal action within a reasonable time, permit Seller such reasonable time to perform curative work at Seller’s expense

In the event the curative work is performed by Seller, the time specified herein for closing of this sale shall be extended for a reasonable period necessary for such action. Seller represents that the property may be legally used as zoned and that no government agency has served any notice to Seller requiring repairs, alterations or corrections of any existing condition except as stated herein.

APPRAISAL, SURVEY AND TERMITE INSPECTION

Any appraisal of the property shall be the 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 AND EXPENSES

The following closing costs shall be paid as provided, if closed through a title company. No cost to Buyer by closing directly.

Closing Cost	Buyer	Seller	Both *
Attorney Fees / Title Company Fees	X
Title Insurance	X
Title Abstract or Certificate	X
Recording Fees		X
Appraisal	X
Survey	X
Transfer Taxes		X
All other closing Cost	X

* 50/50 between buyer and seller.

PRORATIONS

Taxes for the current year, interest, maintenance fees, assessments, dues and rents, if any, will be prorated through the Closing Date. If taxes for the current year vary from the amount prorated at closing, the parties shall adjust the prorations when tax statements for the current year are available.

DEFAULT

If Buyer fails to comply with this contract, Buyer will be in default, and Seller may either:

(a) enforce specific performance, seek such other relief as may be provided by law or both

(b) terminate this contract and receive the earnest money as liquidated damages, thereby releasing both parties from this contract

If, due to factors beyond Seller’s control, Seller fails within the time allowed to make any non-casualty repairs or deliver evidence of clean title, Buyer may either:

(a) extend the time for performance up to 15 days and the Closing Date will be extended as necessary

(b) terminate this contract as the sole remedy and receive a refund of the earnest money

If Seller fails to comply with this contract for any other reason, Seller will be in default and Buyer may either:

(a) enforce specific performance, seek such other relief as may be provided by law or both

(b) terminate this contract and receive the earnest money, thereby releasing both parties from this contract

ATTORNEY’S FEES

The prevailing party in any legal proceeding brought under or with respect to the transaction described in this contract is entitled to recover from the non-prevailing party all costs of such proceeding and reasonable attorney’s fees.

REPRESENTATIONS

Seller represents that as of the Closing Date:

(a) there will be no liens, assessments or security interests against the Property which will not be satisfied out of the sales proceeds unless securing payment of any loans assumed by Buyer

(b) assumed loans will not be in default

If any representation in this contract is untrue on the Closing Date, this contract may be terminated by Buyer and the earnest money will be refunded to Buyer. All representations contained in this contract will survive closing.

FEDERAL TAX REQUIREMENT

If Seller is a “foreign person” as defined by applicable law, or if Seller fails to deliver an affidavit that Seller is not a “foreign person”, then Buyer shall withhold from the sales proceeds an amount sufficient to comply with applicable tax law and deliver the same to the Internal Revenue Service together with appropriate tax forms. IRS regulations require filing written reports if cash in excess of specified amounts is received in the transaction.

AGREEMENT OF PARTIES

This contract contains the entire agreement of the parties and cannot be changed except by their written agreement.

NOTICES

All notices from one party to the other must be in writing and are effective when mailed to, hand-delivered at or transmitted by facsimile machine.

TO SELLER AT:

Everlasting Land Inc.

10810 N Tatum Blvd, Ste 102-644

Phoenix, Arizona 85028

(602) 456-1499

info@everlastingland.com

TO BUYER AT:

The address, phone and email Buyer has on file.

ASSIGNMENT

This agreement may not be assigned by Buyer without the consent of Seller. This agreement may be assigned by Seller and shall be binding on the heirs and assigns of the parties hereto.

PRIOR AGREEMENTS

This contract incorporates all prior agreements between the parties, contains the entire and final agreement of the parties and cannot be changed except by their written consent. Neither party has relied upon any statement or representation made by the other party or any sales representative bringing the parties together. Neither party shall be bound by any terms, conditions, oral statements, warranties or representations not herein contained. Each party acknowledges they have read and understand this contract. The provisions of this contract shall apply to and bind the heirs, executors, administrators, successors and assigns of the respective parties hereto. When herein used, the singular includes the plural and the masculine includes the feminine as the context may require.

NO BROKER OR AGENTS

The parties represent that neither party has employed the services of a real estate broker or agent in connection with the property, or that if such agents have been employed, the party employing said agent shall pay any and all expenses outside the closing of this agreement.

EMINENT DOMAIN

If the property is condemned by eminent domain after the effective date hereof, the Seller and Buyer shall agree to continue the closing, or a portion thereof, or cancel this Contract. If the parties cannot agree, this contract shall remain valid with Buyer being entitled to be cancelled and the down payment money returned to Buyer.

RECORDING

This agreement may be recorded in the official records of the applicable county and state.

OTHER PROVISIONS

CASH SALES: Cash sales are final.

OWNER FINANCING – OUR GUARANTEE: Everlasting Land Inc. will allow an additional inspection period of 60 days from date of down payment. If, for whatever reason, Buyer is unsatisfied with the property, then Everlasting Land Inc. agrees to either exchange said property or refund all monies minus closing costs, payment fees and accounting setup fees.

PREPAYMENT: Buyer may prepay all or any portion of the Balance Due at any time without penalty. No fees, charges or interest will accrue or be assessed as a result of any early payment made by Buyer.

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

GOVERNING LAW: This contract shall be governed by the laws of the State of Wyoming.

EXECUTED ON THE EFFECTIVE DATE.

ADDITIONAL TERMS APPLICABLE TO OWNER FINANCING ONLY

PROMISSORY NOTE

For value received, the Borrower promises to pay to Everlasting Land Inc. with a mailing address of 10810 N Tatum Blvd, Ste 102-644, Phoenix, AZ 85028 (“Lender”), or to order, the principal amount together with interest on the unpaid principal balance until paid in full.

Principal and interest are payable as follows:

Payment

Borrower will pay Lender the agreed number of months of principal and interest payments, plus per month Note Servicing Fee, plus per month for estimated property taxes, for a total monthly payment inclusive of interest, beginning on the agreed start date, with interest calculated on the unpaid entire principal balance per annum. This estimated payment is based on the assumption that all payments will be made exactly as scheduled. The actual final payment will be for all principal and accrued interest not yet paid, together with any other unpaid amounts under this Note. Unless otherwise agreed or required by applicable law, payments will be applied first to any accrued unpaid interest, then to any late charges, then to principal. Borrower will pay Lender through our payment system, or at such other place as Lender may designate in writing.

Default Rate

Upon default, including failure to pay upon final maturity, Lender, at its option, may, if permitted under applicable law, increase the interest rate on this Note by five (5) percentage points (“Default Rate”). The Default Rate of Interest shall thereafter supercede the rate set forth in Paragraph 1 above, even if the default is subsequently cured.

Prepayment

Borrower may prepay this note, in whole or in part with no prepayment penalty.

Late Charge

If a payment is 5 or more calendar days late, Borrower will be charged in addition to regularly scheduled payment, in addition to all other sums owed hereunder.

Default

Each of the following shall constitute an event of default under this Note:

Borrower fails to make any payment when due.
Borrower fails to comply with or to perform any other material term, obligation, covenant or condition contained in any other agreement between Lender and Borrower, including but not limited to, the Purchase and Sale Agreement, Promissory Note and Land Contract.
Borrower defaults under any loan in favor of any other creditor, if such default may materially affect the Real Property securing this Note.
Any statement made or furnished to Lender by Borrower to Lender in connection with this loan was false at the time the statement was made.

If any default, other than a default in payment, is curable and if Borrower has not been given a notice of breach of the same provision of this Note within the preceding twelve (12) months, it may be cured (and no event of default will have occurred) if Borrower, after receiving written notice from Lender demanding cure of such default:

(1) cures the default within fifteen (15) days, or

(2) if the cure requires more than fifteen (15) days, immediately initiates steps sufficient to cure the default and thereafter continues and completes all reasonable and necessary steps sufficient to produce compliance as soon as reasonably practicable, but not more than thirty (30) days with respect to any non-monetary default.

This Note is secured by a Land Contract of this same date.

The maker promises and agrees that in the case of a default in the payment of any sum required hereunder, or in the case of the failure to perform any covenant contained in the Land Contract securing this Note, or if the maker becomes insolvent or makes a general assignment for the benefit of creditors, then the unpaid principal balance and accrued interest shall, at the option of the holder or holders of this Note, immediately become due and payable although the time of maturity as expressed in this Note may not have arrived.

The Borrower promises and agrees that in the event of any sale, transfer, alienation or other disposition of the Stock which is the subject of the Land Contract which secures this Note, or of any part thereof or of any interest therein, whether voluntary or involuntary, the entire unpaid principal balance and accrued interest shall, at the option of the holder or holders of this Note, immediately become due and payable although the time of maturity as expressed in this Note may not have arrived.

Under this Note, the Borrower agrees to pay all costs, including reasonable attorneys’ fees, incurred in the collection of any unpaid amounts. Jurisdiction and venue of any claim, action or proceeding to enforce the parties’ rights under this Note shall be in the state and federal courts located in the maker’s court of choice.

The Borrower waives presentment for payment, demand, notice, protest, notice of protest, diligence and non-payment of this Note, and all defenses on the ground of any extension of time for payment that may be given by Lender to Borrower.

LAND SALE CONTRACT

Purchase and Sale: The undersigned Buyer agrees to buy and the undersigned Seller Everlasting Land Inc. with a mailing address of 10810 N Tatum Blvd, Ste 102-644, Phoenix, AZ 85028, or its assigns, agrees to sell all that tract or parcel of land, with such improvements as are located thereon, together with all fixtures, landscaping, improvements and appurtenances, all being collectively referred to as the “Property”.

Purchase Price and Method of Payment: Buyer warrants that, except as may be otherwise provided herein, Buyer will have at the time this agreement is signed and notarized, sufficient cash to complete the purchase of the Property, except for that portion the Seller has authorized for payment on the terms outlined in this Land Sale Contract.

The terms of this Land Sale Contract are as follows:

Seller warrants the Property to be free of all liens and taxes are current.
Seller warrants the Property to be available to the Buyer at the time of this contract’s effective date.
Seller holds the right to limit the amount of timber removed from the property to include only that area needed to place a dwelling or structure, until the total price of the property including interest is paid.
Seller to hold the Title Warranty Deed to the Property until the Property is completely paid and the Seller warrants that the Property Title will remain free from any loans, liens or encumbrances through the period of payment.
The Seller, at the time of title transfer, will provide the Buyer with a marketable title.
Seller will pay the Taxes on the Property each year and the Buyer will reimburse the Seller each year. Seller reserves the right to adjust the estimated property tax portion of the monthly payment to reflect any increases in property tax assessments. Buyer will be notified in writing of any such adjustments at least 30 days prior to the effective date of the change. Failure of the Buyer to reimburse the Seller for all taxes accrued from the date of this purchase within 60 days of the date due will void this Contract and the remaining amount owed on the Property will become due within 30 days. Property taxes are prorated and added to the borrower’s payment. The Seller will pay the property taxes until the Buyer pays in full and the Seller conveys the property to the Buyer.
The Seller will notify the Buyer by email (Buyer must keep a valid email address on file) if the Buyer is at default.
The Seller will allow a grace period for the monthly payment of 5 days from the date due. If the payment has not been received within the grace period, a penalty will be assessed to the payment.
The Seller reserves the right to take back possession of the Property if the Buyer is in default of the monthly payment by 35 days, at which time the Seller will notify the Buyer by email of default. The Buyer will have 30 days to bring payments current in order to cure the default. If full payment is not received at this time, the property will be considered foreclosed and the Buyer will forfeit all interest and payments made. If the Seller and Buyer cannot work out any problems associated with the said property and legal action is taken, the side which loses the said action will be responsible for all costs and legal fees associated with the legal action.
The terms of payment are as follows:
Purchase price (as agreed)
Down payment will be (as agreed)
The total amount financed plus interest is (as agreed)
Monthly payments will be made for a period of months at the agreed simple interest rate. Each payment will be applied to principal and interest, with the balance applied to the Note Servicing Fee and the estimated taxes.
Payments will begin on the agreed start date and will continue until principal is paid in full.
There is no prepayment penalty. This note can be paid off at any time. Only the interest accrued to the date of payoff will be assessed.
Seller will record title Warranty Deed to the applicable county and state within 30 days of payoff.
Buyer agrees not to erect any permanent structure or reside on the property until the Promissory Note is paid in full. For the purpose of this clause, a “permanent structure” is defined as any building or improvement with a foundation, intended for long-term habitation or use. Buyer will abide by all local and state municipalities codes, rules, zonings and rules as it pertains to the property.

Binding Agreement Date

This instrument becomes binding once the Buyer signs this instrument. The Buyer accepts this offer subject to the terms noted in this Land Sale Contract as a legal and binding contract.

ACH AUTHORIZATION – RECURRING PAYMENT FORM (CHECKING / SAVINGS ACCOUNT)

If you are participating as a Borrower, you are required to complete a written ACH authorization. The original is retained by Everlasting Land Inc. and may be uploaded to your client contract file. Periodically, Federal and State Bank Regulators and Fraud Investigators ask for Client authorizations. If they do, this authorization will be provided.

How the Recurring Payment and Note Automation work:

As the Borrower, you authorize regularly scheduled payments from your checking or savings account. You will be charged at each billing cycle the total amount then due. A notification of payment will be emailed to you and shown on your bank statement.

Borrower authorizes Everlasting Land Inc. (“Lender”) to set up notes and loan agreements using an online software application managed by Lender.

Borrower authorizes Lender to make withdrawals from one or several designated checking or savings account(s) provided to Lender.

Borrower understands the account may be drafted automatically. Borrower agrees to have sufficient funds in the account and will pay all fees if payment is dishonored by the bank or credit union for any reason.

Borrower Authorization:

The Borrower authorizes Lender to initiate instructions for funds to be charged or debited from the Borrower’s checking or savings account on the loan due date of each month for payment of the loan, including the monthly payment amount plus late fees if any from Lender or Beneficiary. A charge from either Lender or Beneficiary may appear on the account noted, and Borrower has access to payment records at www.Geekpay.io. Lender uses GeekPay.io to automate accounting and payments.

Borrower verifies with the Financial Institution that the account is capable of receiving an ACH Debit item. Borrower asserts being the owner or an authorized signer of the bank account.

This authority is to remain in full force and effect until Lender has received notification from Borrower of its termination in such time and in such manner as to afford Lender and the Financial Institution a reasonable opportunity to act upon it.

Borrower has complete access to loan and payment records at www.Geekpay.io and will receive email alerts to the email account associated with the www.Geekpay.io login.

Borrower agrees to notify Lender in writing of any changes in account information or termination of this authorization 15 days prior to the next due date of the charges.

Borrower acknowledges that the origination of ACH transactions to the account must comply with the provisions of U.S. law.

Borrower understands that if there is not money in the account, Borrower will be charged added fees by the bank and by Lender. Borrower will not dispute the Lender recurring billing with the bank, so long as the transaction corresponds to the terms indicated in this agreement or as modified by the parties.

RECEIPT

Receipt of Down Payment Money is acknowledged.

Receipt of Document Preparation fee is also acknowledged.

Everlasting Land Inc.

Lineker Tomazeli, President

Latest Blog Posts

What Topic Are You Looking For?