Albert Wilson is the owner in fee of a parcel of improved real estate located at 1 Main Street, Middletown, USA. It is a single-family residence, located in an R-1 (residential 1 family house) zone, and served by city water and sewer. The house was built in 1944.

Robert Brown and Alice Brown, his wife, are entering into a contract to purchase the property. The sale price is $200,000. The Browns will tender $10,000 as down payment upon signing (earnest money) and pay an additional $10,000 within 20 days of contract signing. The couple is seeking a 30-year conventional mortgage of $180,000, at the current rate, which is 5.5%. An appraisal of the value of the real estate will be completed within 14 calendar days of the signing of the agreement. The loan will be obtained within 30 calendar days of the signing of the real estate contract.

The Browns have already sold their house and expect to close on or before Month Date, 20xx, which is 90 days from the anticipated date of the contract with Mr. Wilson.

The metes and bounds description of the real property is as follows: A parcel of land located at the NW corner of the intersection of Beck Road and Main Street in the township of Middletown, New Frontier County, USA and further described as commencing at the point of the beginning, then N 2 0 ' 0" W - 110.50 feet, then N 88 0',0 " E - 78 feet, then N 2 0' 0 'W - 63.50 feet, then S 820'0" E - 145.00 feet, then S 1344'40" W - 185.83 feet, then N 820'0" W - 173.00 feet, to the point of beginning, and including 0.717 acres.

Assume that the property Mr. Wilson is selling to Mr. and Mrs. Brown has a rich vein of coal. Mr. Wilson intends to mine the coal for the next three years.

Prepare the real estate contract for the transaction between Albert Wilson and Robert Brown and Alice Brown, under which Mr. Wilson and Mr. and Mrs. Brown enter into a real estate contract as the seller and buyers, respectively.

REAL ESTATE CONTRACT The undersigned agree that the Seller [Seller's First and Last Name], (hereinafter \"Seller\") hereby agrees to sell the property located at [Street Address of the Property] in the city of [City], State of [State] to the Buyer [Buyer's First and Last Name], {hereinafter the \"Buyer\") and the Buyer agrees to buy the Property from the Seller. The legal description of the property is: [Real Property metes and Bounds Description]. 1. Purchase Price and Conditions of Payment The purchase price of the property shall be [write out total sales price ie ten thousand] Dollars ($[Purchase price numerically ie $10,000] to be paid as described below. 2. Deposit Buyer has tendered to the seller through the broker trust account ${Down payment/escrow amount] which will be applied to the purchase price at closing. An additional deposit of $[Additional Deposit amount] shall be paid within [number of days] of contract signing and be applied to the purchase price at closing. If the deposit check is rejected by the financial institution upon which it is drawn, the Seller may cancel the contract immediately. If the Buyer defaults under the terms of the contract, the deposit shall be surrendered to the seller as liquidated damages, and not as a penalty. If the seller defaults under the terms of the contract, the deposit shall be returned to the Buyer. 3. Financing The purchase price will be paid in cash at the time of closing. The total deposit amounts of $[Total amount of both deposits] will be applied at closing and $[Mortgage Amount] for a total purchase price of $[sale price of the property]. This is subject to the Buyer's ability to obtain a mortgage loan at the current rate of [current mortgage rate]% within [number of days to obtain a loan] calendar days of signing this agreement. Buyer shall provide the Seller with the lender's letter of preapproval of a loan. If the Buyer does not provide this documentation within [number of days to obtain a loan] calendar days of signing this agreement, then both Buyer and Seller have the right to cancel the contract and the deposit amounts will be returned to the Buyer. 4. Appraisal Buyer shall have [number of days to obtain an appraisal] calendar days (unless otherwise declared by state law) from the date of this contract to have an appraisal performed by a licensed/certified appraiser. If the contract purchase price exceeds the appraised value, then the Buyer shall have the right to cancel the contract and have the deposits returned to the Buyer. If the appraisal is not completed before the time indicated (or declared by law), the Seller has the right to cancel the contract and return the deposits to the Buyer. Real Estate Contract/1 5. Property Inspection The buyer shall have 30 calendar days (unless otherwise declared by law) from the date of this contract to have professional inspections performed by licensed inspectors of contractors. Inspection of the property may include, but is not limited to, a general home inspection, survey, structural, termite, wood infestation, fungus, septic/sewer, mold, radon, and lead-based pain hazards. If the Buyer does not present the Seller any professional inspection reports identifying defective conditions before the expiration of the time frame stated herein (or declared by law), the property shall be considered to be in acceptable condition and repair requirements do not apply. 6. Repair Seller agrees to correct or repair any defects or conditions reported in any inspection reports as long as the amount does not exceed $5,000. If the corrections or repairs of the defect exceed the amount states, and the parties cannot reach an agreement addressing the reported defects to the satisfaction of the Buyer, the Buyer shall have the option to accept the property \"as is\" or cancel the contract. 7. Lead Based Pain Disclosure and Pamphlet. The lead based disclosure and pamphlet are federally mandate for properties built prior to 1978. A lead disclosure and pamphlet \"Protect Your Family from Lead in your Home\" have been provided and are available at www.hud.gov. 8. Personal Property The following personal property will be included with the home sale: [List any personal property that the Seller will leave for the Buyer]. 9. Closing The closing shall be on or before [Month which is 90 days from the date of this contract] [Date which 1s 90 days from the date of this contract], [ Year]. 10. Possession Possession will be delivered at closing. 11. Merchantable Title At closing the Seller will convey good and merchantable title via a general warranty or other appropriate deed. The Seller will make all reasonable efforts to provide merchantable title. IN the event that the title is unmerchantable, this contract shall be deemed canceled, resulting in a return of the deposit to the Buyer within five (5) calendar days. 12. Title Insurance Title Insurance will be issued through the title Insurance of the Owner's choice. 13. Additional Terms and Conditions Seller intends to reserve the right [Explain the coal mining right reserved by the Seller]. 14. Risk of Loss The Seller assumes the risk of loss and insures the property until the closing date. The Buyer assumes the risk of loss and will insure the property after the closing date. 15. No Assignment The Buyer may not assign or transfer rights or obligations under this contract nor any interest therein. 16. Failure to Insist on Strict Performance If either party fails to enforce any claim or part of this contract, said party may enforce such clauses or parts at a later time without penalty. 17. Dispute Resolution If there is a dispute that arises under this contract, the parties agree to mediate in good faith to resolve the dispute using a state licensed mediator in the state of [ State where property is located]. 18. Rights declared by law If there is any conflict between this contract and any provisions of federal, state, or local laws, the rights declared by such law shall control, supersede and be superior to this contract. 19. Severability If any provision of this contract is found to be invalid or unenforceable, the remainder of the contract will remain in full force and effect. 20. Entire Agreement This contract and any attachments signed by both parties constitute the entire agreement between Buyer and Seller and supersede all prior discussions, negotiations, and agreements between the Buyer and Seller. Neither the Buyer nor the Seller (nor agent) shall be bound by any understanding, agreement, promise, or representation either express or implied, that is not specified in this contract or signed attachments. 21. Duty to seek Legal Advice If any terms of provisions are not clear to any party, the party has the right and duty to seek legal advice before signing the contract