CONTRACT OF PURCHASE

(Residential)

This Agreement, entered into this _________ day of ___________________, 2012, between _____________________________________________________________ , hereinafter referred to as Seller, and ____________________________________________________________, hereinafter referred to as Buyer. That Seller agrees to sell and the Buyer agrees to purchase the following real estate and all improvements thereon: Property Address and/or Legal Description: _____________________________________________________________________________ _____________________________________________________________________________ __ Parcel Number: _______________________ Lot Size or Acreage: __________________

Purchase Price: $____________________ shall be paid as follows: Earnest money of $_______________ by ( ) check, ( ) cash. The earnest money shall be held by ___________________________________________________, for the mutual benefit of the parties, and shall be disbursed according to the terms of this Contract. The balance of the Purchase Price shall be paid at closing. Deed: At closing Seller shall convey and transfer the property to Buyer by warranty deed or other similar acceptable instrument of conveyance, which instrument shall be subject to the exceptions permitted herein, releasing homestead. At the same time, the balance of the purchase price due shall be paid and all documents relative to the transaction shall be signed and delivered. Possession: That possession of said real estate is to be delivered to Buyer at closing. Closing: Closing on said real estate shall be held on or before the ___ of __________________, 2012, or at such other time as may be mutually agreed in writing. Default: Should Buyer fail to perform this Contract promptly on Buyers part, at the time and in the manner herein specified, the Seller shall, at his election, have all rights and remedies to retain the earnest money paid above as liquidated damages, and in the event of such retention, this Contract thereupon shall become null and void. Title Insurance: Seller agrees to deliver to Buyer a title insurance policy or a commitment for title insurance, insuring the full amount of the purchase price hereunder against the loss or damage by reason of defect in the title in the Seller; said insurance policy being subject only to the usual objections contained in a title policy. Taxes: 2011 Real Estate Taxes are to be paid by the seller, and the 2012 Real Estate Taxes are to be pro-rated from January 1, 2012 to the date of closing; all on the basis of the amount of the last ascertainable taxes. Buyer assumes and agrees to pay said taxes when due. The Seller acknowledges that he has an obligation to forward any Real Estate Tax Bills that come into their possession to the Buyer. Property Condition: Buyer accepts the property and its improvements, if any, in its present condition subject only to:

_____________________________________________________________________________ _____________________________________________________________________________ __ Termites: Seller shall provide written professional certification that the dwelling is free of active termites. If active termites are found, treatment shall be at Sellers expense by a professional exterminator. If substantial structural damage due to termites is found, repairs shall be made at Sellers expense, or either party may declare this Contract null and void and earnest money shall be refunded. Buyer acknowledges receipt of a copy of the Residential Real Property Disclosure Report required under Illinois law prior to the signing of this contract. Buyer acknowledges receipt of a copy of the Lead Paint Disclosure, Mold Disclosure and Radon Disclosure. This Contract shall be accepted in writing on or before _________ P.M. on ____________, 2012 or this Contract shall become null and void at the option of the Purchaser. I/We do hereby accept the foregoing Contract this _______ day of ___________________, 2012. ____________________________________ ____________________________________ Buyer Signature Seller Signature ____________________________________ ____________________________________ Buyer Signature Seller Signature ____________________________________ ____________________________________ Buyers Address Sellers Address ____________________________________ ____________________________________ Buyers Address Sellers Address ____________________________________ ____________________________________ Phone Phone THIS IS A LEGALLY BINDING CONTRACT, IF NOT UNDERSTOOD, SEEK LEGAL ADVISE. IT CONTAINS THE ENTIRE AGREEMENT BETWEEN THE PARTIES AND MAY NOT BE CHANGED EXCEPT BY THEIR WRITTEN CONSENT.

Contract of purchase (residential)/closing documents/user folders