Money Agreement Oregon Template

The Money Agreement Oregon form, known officially as the Commercial Association of REALTORS® Oregon/SW Washington Purchase and Sale Agreement and Receipt for Earnest Money, is a comprehensive document utilized in the transaction of purchasing commercial property within the state of Oregon. This form outlines the terms and conditions agreed upon by both the buyer and the seller, including the payment of earnest money, the purchase price, as well as other conditions related to the sale. It is designed to ensure that all parties are fully informed and in agreement on the specifics of the commercial property transaction.

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The Money Agreement Oregon form is a critically important document underpinning the process of purchasing and selling commercial real estate within the state, providing a structured framework for transactions to ensure clarity, legality, and security for both parties involved. Crafted by the Commercial Association of REALTORS® OREGON/SW WASHINGTON, it covers meticulously detailed terms, including but not limited to the execution of Agency Acknowledgment, earnest money receipt, and comprehensive conditions concerning the inspection, sale, and possession of the property. Furthermore, it incorporates explicit directives on the assignment of leases, the allocation of closing costs, and delineates the obligations related to title insurance and property-related documents, ensuring a transparent and equitable transaction. Besides, it outlines procedures for addressing default scenarios, specifies the responsibilities regarding the condition of the property, and delineations concerning personal property included in said transaction. Essential notifications and conditions for the assignment of the agreement also form part of this comprehensive agreement, which incorporates provisions for the resolution of disputes, should they arise. This document, therefore, is pivotal in guiding both buyers and sellers through the legal intricacies of commercial real estate transactions in Oregon, safeguarding their interests and facilitating a smooth transfer of property ownership.

Preview - Money Agreement Oregon Form

C O M M E R C I A L A S S O C I A T I O N O F R E A L T O R S ® O R E G O N / S W W A S H I N G T O N P U R C H A S E A N D S A L E A G R E E M E N T A N D R E C E I P T F O R E A R N E S T M O N E Y

( O r e g o n C o m m e r c i a l F o r m )

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A G E N C Y A C K N O W L E D G M E N T

B u y e r s h a l l e x e c u t e t h i s A c k n o w l e d g m e n t c o n c u r r e n t w i t h t h e e x e c u t i o n o f t h e A g r e e m e n t b e l o w a n d p r i o r t o d e l i v e r y o f t h a t A g r e e m e n t t o S e l l e r . S e l l e r s h a l l e x e c u t e t h i s A c k n o w l e d g m e n t u p o n r e c e i p t o f t h e A g r e e m e n t b y S e l l e r , e v e n i f S e l l e r i n t e n d s t o r e j e c t t h e A g r e e m e n t o r m a k e a c o u n t e r - o f f e r . I n n o e v e n t s h a l l S e l l e r ’ s e x e c u t i o n o f t h i s A c k n o w l e d g m e n t c o n s t i t u t e a c c e p t a n c e o f t h e A g r e e m e n t o r a n y t e r m s c o n t a i n e d t h e r e i n .

P u r s u a n t t o t h e r e q u i r e m e n t s o f O r e g o n A d m i n i s t r a t i v e R u l e s ( O A R 8 6 3 - 0 1 5 - 0 2 1 5 ) , b o t h B u y e r a n d S e l l e r a c k n o w l e d g e h a v i n g r e c e i v e d t h e O r e g o n R e a l E s t a t e A g e n c y D i s c l o s u r e P a m p h l e t , a n d b y e x e c u t i o n b e l o w a c k n o w l e d g e a n d c o n s e n t t o t h e a g e n c y r e l a t i o n s h i p s i n t h e f o l l o w i n g r e a l e s t a t e p u r c h a s e a n d s a l e t r a n s a c t i o n a s f o l l o w s :

( a )	( a g e n t n a m e )
	B u y e r e x c l u s i v e l y ;
	L i m i t e d A g e n c y ” )


o f		f i r m ) ( S e l l i n g L i c e n s e e ) i s t h e a g e n t o f ( c h e c k o n e ) :
	S e l l e r e x c l u s i v e l y ;		b o t h S e l l e r a n d B u y e r ( “ D i s c l o s e d

( b )	( a g e n t n a m e )
	B u y e r e x c l u s i v e l y ;
	L i m i t e d A g e n c y ” ) .


o f		( f i r m ) ( L i s t i n g L i c e n s e e ) i s t h e a g e n t o f ( c h e c k o n e ) :
	S e l l e r e x c l u s i v e l y ;		b o t h S e l l e r a n d B u y e r ( “ D i s c l o s e d

I f t h e n a m e o f t h e s a m e r e a l e s t a t e f i r m a p p e a r s i n b o t h P a r a g r a p h s ( a ) a n d ( b ) a b o v e , B u y e r a n d S e l l e r a c k n o w l e d g e t h a t a p r i n c i p a l b r o k e r o f t h a t r e a l e s t a t e f i r m s h a l l b e c o m e t h e D i s c l o s e d L i m i t e d A g e n t f o r b o t h B u y e r a n d S e l l e r , a s m o r e f u l l y s e t f o r t h i n t h e D i s c l o s e d L i m i t e d A g e n c y A g r e e m e n t s t h a t h a v e b e e n r e v i e w e d a n d s i g n e d b y B u y e r , S e l l e r a n d t h e n a m e d r e a l e s t a t e l i c e n s e e ( s ) .

A C K N O W L E D G E D

B u y e r :	( p r i n t )	( s i g n ) __________________________ D a t e : ___

B u y e r :	( p r i n t )	( s i g n ) _________________________ D a t e : ____

S e l l e r :	( p r i n t )	( s i g n )	_________________________	D a t e : ____

S e l l e r :	( p r i n t )	( s i g n )	_________________________	D a t e : ___

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P U R C H A S E A N D S A L E A G R E E M E N T A N D R E C E I P T F O R E A R N E S T M O N E Y

1D a t e d :

B E T W E E N :

( " S e l l e r " )

A d d r e s s :

A N D :

( " B u y e r " )

A d d r e s s :

B u y e r o f f e r s t o b u y a n d a c q u i r e f r o m S e l l e r ( i ) t h e r e a l p r o p e r t y a n d a l l i m p r o v e m e n t s

t h e r e o n c o m m o n l y k n o w n a s

a n d l o c a t e d a t

i n t h e C i t y o f

, C o u n t y o f

, O r e g o n l e g a l l y d e s c r i b e d o n E x h i b i t A , a t t a c h e d h e r e t o a n d i n c o r p o r a t e d h e r e i n b y

r e f e r e n c e ( t h e “ P r o p e r t y ” ) a n d [ c h e c k b o x i f a p p l i c a b l e

] , ( i i ) a l l o f S e l l e r ’ s r i g h t , t i t l e a n d

10i n t e r e s t i n a n d t o c e r t a i n l e a s e ( s ) b y w h i c h t h e P r o p e r t y i s d e m i s e d a s d e s c r i b e d o n E x h i b i t B

11	a t t a c h e d h e r e t o a n d i n c o r p o r a t e d h e r e i n b y r e f e r e n c e ( t h e “ L e a s e s ” ) . I f n o l e g a l d e s c r i p t i o n i s
12	a t t a c h e d , B u y e r a n d S e l l e r w i l l a t t a c h a l e g a l d e s c r i p t i o n u p o n r e c e i p t a n d	r e a s o n a b l e
13	a p p r o v a l b y b o t h p a r t i e s o f t h e P r e l i m i n a r y C o m m i t m e n t o r , i f a p p l i c a b l e , t h e	S u r v e y . A s
14	p a r t i a l c o n s i d e r a t i o n f o r t h e a s s i g n m e n t o f t h e L e a s e ( s ) t o B u y e r , a t t h e C l o s i n g ( a s d e f i n e d

15i n S e c t i o n 7 h e r e o f ) B u y e r s h a l l a s s u m e a l l o f t h e o b l i g a t i o n s o f t h e L e s s o r u n d e r t h e L e a s e

16 w h i c h f i r s t a c c r u e o n o r a f t e r t h e C l o s i n g D a t e ( a s d e f i n e d i n s a i d S e c t i o n 7 ) . T h e p a r t i e s

17s h a l l a c c o m p l i s h s u c h a s s i g n m e n t a n d a s s u m p t i o n b y e x e c u t i n g a n d d e l i v e r i n g t o e a c h o t h e r

18t h r o u g h E s c r o w a n A s s i g n m e n t o f L e s s o r ' s I n t e r e s t U n d e r L e a s e s u b s t a n t i a l l y i n t h e f o r m o f

19E x h i b i t B a t t a c h e d h e r e t o ( t h e " A s s i g n m e n t " ) . T h e o c c u p a n c y o f t h e P r o p e r t y b y t h e L e s s e e s

20u n d e r s u c h L e a s e s a r e h e r e i n a f t e r s o m e t i m e s r e f e r r e d t o a s t h e “ T e n a n c i e s ” .

21
22	1 .	P u r c h a s e P r i c e . T h e t o t a l p u r c h a s e p r i c e i s				d o l l a r s ( $			) ( t h e
23	“ P u r c h a s e P r i c e ” ) p a y a b l e a s f o l l o w s :		.
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25	1 . 1 .	E a r n e s t M o n e y D e p o s i t . U p o n e x e c u t i o n o f t h i s A g r e e m e n t , B u y e r s h a l l d e l i v e r
26	t o t h e E s c r o w H o l d e r a s d e f i n e d i n h e r e i n , f o r t h e a c c o u n t o f B u y e r $						a s e a r n e s t m o n e y
27	( t h e " E a r n e s t M o n e y " ) i n t h e f o r m o f		c a s h o r	c h e c k o r	p r o m i s s o r y n o t e ( t h e “ N o t e ” ) .
28	I f t h e E a r n e s t M o n e y i s i n t h e f o r m o f a c h e c k b e i n g h e l d u n - d e p o s i t e d b y t h e							L i s t i n g

29S e l l i n g F i r m , i t s h a l l b e d e p o s i t e d n o l a t e r t h a n 5 P M P a c i f i c T i m e t h r e e d a y s a f t e r e x e c u t i o n

30 o f t h e A g r e e m e n t b y B u y e r a n d S e l l e r i n t h e L i s t i n g S e l l i n g F i r m ’ s C l i e n t s ’ T r u s t

31A c c o u n t t o t h e E s c r o w ( a s h e r e i n a f t e r d e f i n e d ) . I f t h e E a r n e s t M o n e y i s i n t h e f o r m o f t h e

32N o t e , i t s h a l l b e d u e a n d p a y a b l e n o l a t e r t h a n 5 P M P a c i f i c T i m e o n e d a y a f t e r e x e c u t i o n

33	o f t h i s A g r e e m e n t b y B u y e r a n d S e l l e r o r	a f t e r s a t i s f a c t i o n o r w a i v e r b y B u y e r o f t h e
34	c o n d i t i o n s t o B u y e r ' s o b l i g a t i o n t o p u r c h a s e t h e P r o p e r t y s e t f o r t h i n t h i s A g r e e m e n t o r

35O t h e r : . I f t h e N o t e i s n o t r e d e e m e d a n d p a i d i n f u l l w h e n d u e , t h e n ( i ) t h e N o t e s h a l l b e

36 d e l i v e r e d a n d e n d o r s e d t o S e l l e r ( i f n o t a l r e a d y i n S e l l e r ’ s p o s s e s s i o n ) , ( i i ) S e l l e r m a y c o l l e c t

37t h e E a r n e s t M o n e y f r o m B u y e r , e i t h e r p u r s u a n t t o a n a c t i o n o n t h e N o t e o r a n a c t i o n o n t h i s

38 A g r e e m e n t , a n d ( i i i ) S e l l e r s h a l l h a v e n o f u r t h e r o b l i g a t i o n s u n d e r t h i s A g r e e m e n t . T h e

39p u r c h a s e a n d s a l e o f t h e P r o p e r t y s h a l l b e a c c o m p l i s h e d t h r o u g h a n e s c r o w ( t h e " E s c r o w " )


40	w h i c h S e l l e r h a s e s t a b l i s h e d o r w i l l e s t a b l i s h w i t h		( t h e “ T i t l e C o m p a n y ) a n d t h e
41	E a r n e s t M o n e y s h a l l b e d e p o s i t e d w i t h	T i t l e C o m p a n y o r	O t h e r :	T h e E a r n e s t

42M o n e y s h a l l b e a p p l i e d t o t h e p a y m e n t o f t h e p u r c h a s e p r i c e f o r t h e P r o p e r t y a t C l o s i n g . A n y

43i n t e r e s t e a r n e d o n t h e E a r n e s t M o n e y s h a l l b e c o n s i d e r e d t o b e p a r t o f t h e E a r n e s t M o n e y .

44T h e E a r n e s t M o n e y s h a l l b e r e t u r n e d t o B u y e r i n t h e e v e n t a n y c o n d i t i o n t o B u y e r ' s o b l i g a t i o n

45t o p u r c h a s e t h e P r o p e r t y s h a l l f a i l t o b e s a t i s f i e d o r w a i v e d t h r o u g h n o f a u l t o f B u y e r .

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2	2 .	C o n d i t i o n s t o P u r c h a s e .		B u y e r ' s o b l i g a t i o n t o p u r c h a s e t h e P r o p e r t y i s
3	c o n d i t i o n e d o n t h e f o l l o w i n g :		n o n e o r	B u y e r ' s a p p r o v a l o f t h e r e s u l t s o f ( i ) t h e P r o p e r t y
4	i n s p e c t i o n d e s c r i b e d i n S e c t i o n 3 b e l o w a n d ( i i ) t h e d o c u m e n t r e v i e w d e s c r i b e d i n S e c t i o n 4
5	a n d ( i i i ) ( d e s c r i b e a n y o t h e r c o n d i t i o n )				. I f f o r a n y r e a s o n i n B u y e r ’ s s o l e d i s c r e t i o n ,
6	B u y e r h a s n o t g i v e n w r i t t e n w a i v e r o f t h e s e c o n d i t i o n s , o r s t a t e d i n w r i t i n g t h a t t h e s e
7	c o n d i t i o n s h a v e b e e n s a t i s f i e d , b y w r i t t e n n o t i c e g i v e n t o S e l l e r w i t h i n					d a y s a f t e r t h e
8	d e l i v e r y o f a f u l l y e x e c u t e d A g r e e m e n t t o B u y e r a n d S e l l e r , t h i s A g r e e m e n t s h a l l b e d e e m e d
9	a u t o m a t i c a l l y t e r m i n a t e d , t h e E a r n e s t M o n e y s h a l l b e p r o m p t l y r e t u r n e d t o B u y e r , a n d
10	t h e r e a f t e r , e x c e p t a s s p e c i f i c a l l y p r o v i d e d t o t h e c o n t r a r y h e r e i n , n e i t h e r p a r t y s h a l l h a v e a n y

11f u r t h e r r i g h t o r r e m e d y h e r e u n d e r .

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13	3 .	P r o p e r t y I n s p e c t i o n . S e l l e r s h a l l p e r m i t B u y e r a n d i t s a g e n t s , a t B u y e r ' s
14	s o l e e x p e n s e a n d r i s k , t o e n t e r t h e P r o p e r t y a t r e a s o n a b l e t i m e s a f t e r r e a s o n a b l e p r i o r
15	n o t i c e t o S e l l e r a n d a f t e r p r i o r n o t i c e t o t h e t e n a n t s o f t h e P r o p e r t y a s r e q u i r e d b y t h e

16t e n a n t s ' l e a s e s , i f a n y , t o c o n d u c t a n y a n d a l l i n s p e c t i o n s , t e s t s , a n d s u r v e y s c o n c e r n i n g t h e

17	s t r u c t u r a l c o n d i t i o n o f t h e i m p r o v e m e n t s , a l l m e c h a n i c a l , e l e c t r i c a l a n d p l u m b i n g s y s t e m s ,
18	h a z a r d o u s m a t e r i a l s , p e s t i n f e s t a t i o n , s o i l s c o n d i t i o n s , w e t l a n d s , A m e r i c a n s w i t h D i s a b i l i t i e s
19	A c t c o m p l i a n c e , a n d a l l o t h e r m a t t e r s a f f e c t i n g t h e s u i t a b i l i t y o f t h e P r o p e r t y f o r B u y e r ' s

20i n t e n d e d u s e a n d / o r o t h e r w i s e r e a s o n a b l y r e l a t e d t o t h e p u r c h a s e o f t h e P r o p e r t y i n c l u d i n g

21t h e e c o n o m i c f e a s i b i l i t y o f s u c h p u r c h a s e . B u y e r s h a l l i n d e m n i f y , h o l d h a r m l e s s , a n d d e f e n d

22S e l l e r f r o m a l l l i e n s , c o s t s , a n d e x p e n s e s , i n c l u d i n g r e a s o n a b l e a t t o r n e y s ' f e e s a n d e x p e r t s '

23	f e e s , a r i s i n g f r o m o r r e l a t i n g t o B u y e r ' s e n t r y o n a n d i n s p e c t i o n o f t h e P r o p e r t y .	T h i s
24	a g r e e m e n t t o i n d e m n i f y , h o l d h a r m l e s s , a n d d e f e n d S e l l e r s h a l l s u r v i v e c l o s i n g o r a n y

25t e r m i n a t i o n o f t h i s A g r e e m e n t .

26
27	4 .	S e l l e r ' s D o c u m e n t s . W i t h i n	d a y s a f t e r t h e E x e c u t i o n D a t e , S e l l e r s h a l l
28	d e l i v e r t o B u y e r , a t B u y e r ' s a d d r e s s s h o w n b e l o w , l e g i b l e a n d c o m p l e t e c o p i e s o f
29	t h e f o l l o w i n g d o c u m e n t s a n d o t h e r i t e m s r e l a t i n g t o t h e o w n e r s h i p , o p e r a t i o n , a n d

30m a i n t e n a n c e o f t h e P r o p e r t y , t o t h e e x t e n t n o w i n e x i s t e n c e a n d t o t h e e x t e n t s u c h i t e m s a r e

31	w i t h i n S e l l e r ' s p o s s e s s i o n o r c o n t r o l :		.
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33	5 .	T i t l e I n s u r a n c e . W i t h i n		d a y s a f t e r t h e E x e c u t i o n D a t e , S e l l e r s h a l l o p e n
34	t h e E s c r o w w i t h t h e T i t l e C o m p a n y a n d d e l i v e r t o B u y e r a p r e l i m i n a r y t i t l e r e p o r t f r o m t h e
35	T i t l e C o m p a n y ( t h e " P r e l i m i n a r y C o m m i t m e n t " ) , s h o w i n g t h e s t a t u s o f S e l l e r ' s t i t l e t o t h e
36	P r o p e r t y , t o g e t h e r w i t h c o m p l e t e a n d l e g i b l e c o p i e s o f a l l d o c u m e n t s s h o w n t h e r e i n
37	a s e x c e p t i o n s t o t i t l e ( “ E x c e p t i o n s ” ) . B u y e r s h a l l h a v e				d a y s a f t e r r e c e i p t o f a c o p y o f

38t h e P r e l i m i n a r y C o m m i t m e n t a n d E x c e p t i o n s w i t h i n w h i c h t o g i v e n o t i c e i n w r i t i n g t o S e l l e r o f


39	a n y o b j e c t i o n t o s u c h t i t l e o r t o a n y l i e n s o r e n c u m b r a n c e s a f f e c t i n g t h e P r o p e r t y . W i t h i n
40		d a y s a f t e r t h e d a t e o f s u c h n o t i c e f r o m B u y e r , S e l l e r s h a l l g i v e B u y e r w r i t t e n n o t i c e o f
41	w h e t h e r i t i s w i l l i n g a n d a b l e t o r e m o v e t h e o b j e c t e d - t o E x c e p t i o n s . W i t h i n		d a y s a f t e r
42	t h e d a t e o f s u c h n o t i c e f r o m S e l l e r , B u y e r s h a l l e l e c t w h e t h e r t o ( i ) p u r c h a s e t h e P r o p e r t y
43	s u b j e c t t o t h o s e o b j e c t e d - t o E x c e p t i o n s w h i c h S e l l e r i s n o t w i l l i n g o r a b l e t o r e m o v e o r ( i i )

44t e r m i n a t e t h i s A g r e e m e n t . O n o r b e f o r e t h e C l o s i n g D a t e ( d e f i n e d b e l o w ) , S e l l e r s h a l l r e m o v e

45 a l l E x c e p t i o n s t o w h i c h B u y e r o b j e c t s a n d w h i c h S e l l e r a g r e e s S e l l e r i s w i l l i n g a n d a b l e t o

46r e m o v e . A l l r e m a i n i n g E x c e p t i o n s s e t f o r t h i n t h e P r e l i m i n a r y C o m m i t m e n t a n d a g r e e d t o b y

47B u y e r s h a l l b e d e e m e d " P e r m i t t e d E x c e p t i o n s . " T h e t i t l e i n s u r a n c e p o l i c y t o b e d e l i v e r e d b y

48S e l l e r t o B u y e r a t C l o s i n g s h a l l c o n t a i n n o E x c e p t i o n s o t h e r t h a n t h e P e r m i t t e d E x c e p t i o n s ,

49a n y E x c e p t i o n s c a u s e d b y B u y e r a n d t h e u s u a l p r e p r i n t e d E x c e p t i o n s c o n t a i n e d i n a n o w n e r ' s

50s t a n d a r d A L T A f o r m t i t l e i n s u r a n c e p o l i c y .

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1
2	6 .	D e f a u l t ; R e m e d i e s . N o t w i t h s t a n d i n g a n y t h i n g t o t h e c o n t r a r y c o n t a i n e d i n t h i s
3	A g r e e m e n t , i n t h e e v e n t B u y e r f a i l s t o d e p o s i t t h e E a r n e s t M o n e y D e p o s i t i n E s c r o w s t r i c t l y
4	a s a n d w h e n c o n t e m p l a t e d u n d e r S e c t i o n 1 . 1 a b o v e , S e l l e r s h a l l h a v e t h e r i g h t a t a n y t i m e
5	t h e r e a f t e r t o t e r m i n a t e t h i s A g r e e m e n t a n d a l l f u r t h e r r i g h t s a n d o b l i g a t i o n s h e r e u n d e r b y
6	g i v i n g w r i t t e n n o t i c e t h e r e o f t o B u y e r . I f t h e c o n d i t i o n s , i f a n y , t o B u y e r ' s o b l i g a t i o n t o

7c o n s u m m a t e t h i s t r a n s a c t i o n a r e s a t i s f i e d o r w a i v e d b y B u y e r a n d B u y e r n e v e r t h e l e s s f a i l s ,

8	t h r o u g h n o f a u l t o f S e l l e r , t o c l o s e t h e p u r c h a s e o f t h e P r o p e r t y , S e l l e r ' s s o l e r e m e d y
9	s h a l l b e t o r e t a i n t h e E a r n e s t M o n e y p a i d b y B u y e r . I n t h e e v e n t S e l l e r f a i l s , t h r o u g h
10	n o f a u l t o f B u y e r , t o c l o s e t h e s a l e o f t h e P r o p e r t y , B u y e r s h a l l b e e n t i t l e d t o p u r s u e
11	a n y r e m e d i e s a v a i l a b l e a t l a w o r i n e q u i t y , i n c l u d i n g w i t h o u t l i m i t a t i o n , t h e r e m e d y o f
12	s p e c i f i c p e r f o r m a n c e .		I n n o e v e n t s h a l l B u y e r b e e n t i t l e d t o p u n i t i v e o r c o n s e q u e n t i a l
13	d a m a g e s , i f a n y , r e s u l t i n g f r o m S e l l e r ’ s f a i l u r e t o c l o s e t h e s a l e o f t h e P r o p e r t y .
14
15	7 .	C l o s i n g o f S a l e .			B u y e r a n d S e l l e r a g r e e t h e s a l e o f t h e P r o p e r t y s h a l l b e
16	c l o s e d	o n o r b e f o r e		o r		d a y s a f t e r t h e E x e c u t i o n D a t e ( t h e " C l o s i n g D a t e " )

17i n t h e E s c r o w . T h e s a l e s h a l l b e d e e m e d " c l o s e d " w h e n t h e d o c u m e n t ( s ) c o n v e y i n g t i t l e t o

18t h e P r o p e r t y i s r e c o r d e d a n d t h e P u r c h a s e P r i c e ( i n c r e a s e d o r d e c r e a s e d , a s t h e c a s e m a y

19b e , b y t h e n e t a m o u n t o f c r e d i t s a n d d e b i t s t o S e l l e r ’ s a c c o u n t a t C l o s i n g m a d e b y t h e E s c r o w

20H o l d e r p u r s u a n t t o t h e t e r m s o f t h i s A g r e e m e n t ) i s d i s b u r s e d t o S e l l e r . A t C l o s i n g , B u y e r a n d


21	S e l l e r s h a l l d e p o s i t w i t h t h e T i t l e C o m p a n y a l l d o c u m e n t s a n d f u n d s r e q u i r e d t o c l o s e t h e
22	t r a n s a c t i o n i n a c c o r d a n c e w i t h t h e t e r m s o f t h i s A g r e e m e n t .		A t C l o s i n g , S e l l e r s h a l l
23	d e l i v e r a c e r t i f i c a t i o n i n a f o r m a p p r o v e d b y B u y e r t h a t S e l l e r i s n o t a " f o r e i g n p e r s o n "
24	a s s u c h t e r m i s d e f i n e d i n t h e I n t e r n a l R e v e n u e C o d e a n d t h e T r e a s u r y R e g u l a t i o n s
25	p r o m u l g a t e d u n d e r t h e I n t e r n a l R e v e n u e C o d e .	I f S e l l e r i s a f o r e i g n p e r s o n a n d t h i s
26	t r a n s a c t i o n i s n o t o t h e r w i s e e x e m p t f r o m F I R P T A r e g u l a t i o n s , t h e T i t l e C o m p a n y s h a l l b e
27	i n s t r u c t e d b y t h e p a r t i e s t o w i t h h o l d a n d p a y t h e a m o u n t r e q u i r e d b y l a w t o t h e I n t e r n a l

28R e v e n u e S e r v i c e . A t C l o s i n g , S e l l e r s h a l l c o n v e y f e e s i m p l e t i t l e t o t h e P r o p e r t y t o B u y e r b y

s t a t u t o r y w a r r a n t y d e e d o r

( t h e " D e e d " )

. I f t h i s A g r e e m e n t p r o v i d e s f o r t h e

30c o n v e y a n c e b y S e l l e r o f a v e n d e e ' s i n t e r e s t i n t h e P r o p e r t y b y a c o n t r a c t o f s a l e , S e l l e r s h a l l

31	d e p o s i t w i t h t h e T i t l e C o m p a n y ( o r o t h e r m u t u a l l y a c c e p t a b l e e s c r o w ) t h e e x e c u t e d a n d
32	a c k n o w l e d g e d D e e d , t o g e t h e r w i t h w r i t t e n i n s t r u c t i o n s t o d e l i v e r s u c h d e e d t o B u y e r u p o n
33	p a y m e n t i n f u l l o f t h e p u r c h a s e p r i c e . A t C l o s i n g , S e l l e r s h a l l p a y f o r	a n d d e l i v e r t o B u y e r a
34	s t a n d a r d A L T A f o r m o w n e r ' s p o l i c y o f t i t l e i n s u r a n c e ( t h e “ P o l i c y ” )	i n t h e a m o u n t o f t h e

35P u r c h a s e P r i c e i n s u r i n g f e e s i m p l e t i t l e t o t h e P r o p e r t y i n B u y e r s u b j e c t o n l y t o t h e P e r m i t t e d

36E x c e p t i o n s a n d t h e s t a n d a r d p r e p r i n t e d e x c e p t i o n s c o n t a i n e d i n t h e P o l i c y .

38 8 . C l o s i n g C o s t s ; P r o r a t e s . S e l l e r s h a l l p a y t h e p r e m i u m f o r t h e P o l i c y . S e l l e r 39 a n d B u y e r s h a l l e a c h p a y o n e - h a l f o f t h e e s c r o w f e e s c h a r g e d b y t h e T i t l e C o m p a n y , a n y

40e x c i s e t a x , a n d a n y t r a n s f e r t a x . R e a l p r o p e r t y t a x e s f o r t h e t a x y e a r i n w h i c h t h e t r a n s a c t i o n

41	i s c l o s e d , a s s e s s m e n t s ( i f a P e r m i t t e d E x c e p t i o n ) , p e r s o n a l p r o p e r t y t a x e s , r e n t s a n d o t h e r
42	L e s s e e c h a r g e s a r i s i n g f r o m e x i s t i n g T e n a n c i e s p a i d f o r t h e m o n t h o f C l o s i n g , i n t e r e s t o n
43	a s s u m e d o b l i g a t i o n s , a n d u t i l i t i e s s h a l l b e p r o r a t e d a s o f t h e C l o s i n g D a t e . P r e p a i d r e n t s ,
44	s e c u r i t y d e p o s i t s , a n d o t h e r u n e a r n e d r e f u n d a b l e d e p o s i t s r e g a r d i n g t h e T e n a n c i e s s h a l l
45	b e a s s i g n e d a n d d e l i v e r e d t o B u y e r a t C l o s i n g .	S e l l e r	B u y e r	N / A s h a l l b e
46	r e s p o n s i b l e f o r p a y m e n t o f a l l t a x e s , i n t e r e s t , a n d p e n a l t i e s , i f a n y , u p o n r e m o v a l o f t h e

47P r o p e r t y f r o m a n y s p e c i a l a s s e s s m e n t o r p r o g r a m .

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1	9 .	P o s s e s s i o n .	B u y e r s h a l l b e e n t i t l e d t o e x c l u s i v e p o s s e s s i o n o f t h e
2	P r o p e r t y , s u b j e c t t o t h e T e n a n c i e s e x i s t i n g a s o f t h e C l o s i n g D a t e ,			o n t h e C l o s i n g D a t e o r
3	.
4
5	1 0 .	C o n d i t i o n o f P r o p e r t y . S e l l e r r e p r e s e n t s t h a t , t o t h e b e s t o f S e l l e r ' s k n o w l e d g e
6	w i t h o u t s p e c i f i c i n q u i r y , S e l l e r h a s r e c e i v e d n o w r i t t e n n o t i c e s o f v i o l a t i o n o f a n y l a w s , c o d e s ,
7	r u l e s , o r r e g u l a t i o n s a p p l i c a b l e t o t h e P r o p e r t y ( " L a w s " ) , a n d S e l l e r i s n o t a w a r e o f a n y s u c h
8	v i o l a t i o n s o r a n y c o n c e a l e d m a t e r i a l d e f e c t s i n t h e P r o p e r t y w h i c h c o s t m o r e t h a n $				t o

9r e p a i r o r c o r r e c t . R i s k o f l o s s o r d a m a g e t o t h e P r o p e r t y s h a l l b e S e l l e r ' s u n t i l C l o s i n g a n d

10 B u y e r ' s a t a n d a f t e r C l o s i n g . N o a g e n t o f B u y e r o r S e l l e r h a s m a d e a n y r e p r e s e n t a t i o n s

11r e g a r d i n g t h e P r o p e r t y . B U Y E R A N D S E L L E R A G R E E T H A T T H E R E A L E S T A T E L I C E N S E E S

12 N A M E D I N T H I S A G R E E M E N T H A V E M A D E N O R E P R E S E N T A T I O N S T O A N Y P A R T Y

13R E G A R D I N G T H E C O N D I T I O N O F T H E P R O P E R T Y , T H E O P E R A T I O N S O N O R I N C O M E

14	F R O M T H E P R O P E R T Y , T H E T E N A N C I E S , O R W H E T H E R T H E P R O P E R T Y O R T H E U S E
15	T H E R E O F C O M P L I E S W I T H L A W S . E x c e p t f o r S e l l e r ' s r e p r e s e n t a t i o n s s e t f o r t h i n t h i s

16s e c t i o n 1 0 , B u y e r s h a l l a c q u i r e t h e P r o p e r t y " a s i s " w i t h a l l f a u l t s a n d b u y e r s h a l l r e l y o n t h e

17	r e s u l t s o f i t s o w n i n s p e c t i o n a n d i n v e s t i g a t i o n i n B u y e r ' s a c q u i s i t i o n o f t h e P r o p e r t y . I t s h a l l

18b e a c o n d i t i o n o f B u y e r ’ s o b l i g a t i o n t o c l o s e , a n d o f S e l l e r ’ s r i g h t t o r e t a i n t h e E a r n e s t M o n e y

19 a s o f C l o s i n g , t h a t a l l o f t h e S e l l e r ’ s r e p r e s e n t a t i o n s a n d w a r r a n t i e s s t a t e d i n t h i s A g r e e m e n t

20a r e m a t e r i a l l y t r u e a n d c o r r e c t o n t h e C l o s i n g D a t e . S e l l e r ’ s r e p r e s e n t a t i o n s a n d w a r r a n t i e s

21s t a t e d i n t h i s A g r e e m e n t s h a l l s u r v i v e C l o s i n g f o r o n e ( 1 ) y e a r .

22
23	1 1 .		P e r s o n a l P r o p e r t y . T h i s s a l e i n c l u d e s t h e f o l l o w i n g p e r s o n a l p r o p e r t y :
24		o r	t h e p e r s o n a l p r o p e r t y l o c a t e d o n a n d u s e d i n c o n n e c t i o n w i t h t h e P r o p e r t y a n d

25o w n e d b y S e l l e r w h i c h S e l l e r s h a l l i t e m i z e i n a s c h e d u l e . S e l l e r s h a l l d e l i v e r t o B u y e r s u c h

s c h e d u l e w i t h i n

d a y s a f t e r t h e E x e c u t i o n D a t e . S e l l e r s h a l l c o n v e y a l l p e r s o n a l

27p r o p e r t y o w n e d b y S e l l e r o n o r i n t h e P r o p e r t y t o B u y e r b y e x e c u t i n g a n d d e l i v e r i n g t o B u y e r

28a t C l o s i n g t h r o u g h E s c r o w a B i l l o f S a l e s u b s t a n t i a l l y i n t h e f o r m o f E x h i b i t C a t t a c h e d h e r e t o

29a n d i n c o r p o r a t e d h e r e i n b y r e f e r e n c e ( t h e " B i l l o f S a l e " ) .

30
31	1 2 .	N o t i c e s . U n l e s s o t h e r w i s e s p e c i f i e d , a n y n o t i c e r e q u i r e d o r p e r m i t t e d i n ,
32	o r r e l a t e d t o , t h i s A g r e e m e n t m u s t b e i n w r i t i n g a n d s i g n e d b y t h e p a r t y t o b e b o u n d . A n y
33	n o t i c e w i l l b e d e e m e d d e l i v e r e d ( i ) w h e n p e r s o n a l l y d e l i v e r e d o r d e l i v e r e d b y f a c s i m i l e
34	t r a n s m i s s i o n ( w i t h e l e c t r o n i c c o n f i r m a t i o n o f d e l i v e r y ) , o r ( i i ) o n t h e d a y f o l l o w i n g d e l i v e r y
35	o f t h e n o t i c e b y r e p u t a b l e o v e r n i g h t c o u r i e r , o r ( i i i ) t h r e e ( 3 ) d a y s a f t e r m a i l i n g i n t h e U . S .

36m a i l s , p o s t a g e p r e p a i d , b y t h e a p p l i c a b l e p a r t y i n a l l e v e n t s , t o t h e a d d r e s s o f t h e o t h e r p a r t y

37 s h o w n i n t h i s A g r e e m e n t , u n l e s s t h a t d a y i s a S a t u r d a y , S u n d a y , o r l e g a l h o l i d a y , i n w h i c h

38e v e n t i t w i l l b e d e e m e d d e l i v e r e d o n t h e n e x t f o l l o w i n g b u s i n e s s d a y . I f t h e d e a d l i n e u n d e r

39 t h i s A g r e e m e n t f o r d e l i v e r y o f a n o t i c e o r p a y m e n t i s a S a t u r d a y , S u n d a y , o r l e g a l h o l i d a y ,

40s u c h l a s t d a y w i l l b e d e e m e d e x t e n d e d t o t h e n e x t f o l l o w i n g b u s i n e s s d a y .

42 1 3 . A s s i g n m e n t . B u y e r m a y n o t a s s i g n m a y a s s i g n m a y a s s i g n , o n l y i f 43 t h e a s s i g n e e i s a n e n t i t y o w n e d a n d c o n t r o l l e d b y B u y e r ( m a y n o t a s s i g n , i f n o b o x i s

44c h e c k e d ) t h i s A g r e e m e n t o r B u y e r ' s r i g h t s u n d e r t h i s A g r e e m e n t w i t h o u t S e l l e r ' s p r i o r w r i t t e n

45	c o n s e n t . I f S e l l e r ’ s c o n s e n t i s r e q u i r e d f o r a s s i g n m e n t , s u c h c o n s e n t m a y b e w i t h h e l d i n
46	S e l l e r ’ s r e a s o n a b l e d i s c r e t i o n .
47
48	1 4 .	A t t o r n e y s ' F e e s . I n t h e e v e n t a s u i t , a c t i o n , a r b i t r a t i o n , o r o t h e r p r o c e e d i n g o f

49a n y n a t u r e w h a t s o e v e r , i n c l u d i n g w i t h o u t l i m i t a t i o n a n y p r o c e e d i n g u n d e r t h e U . S . B a n k r u p t c y

50 C o d e , i s i n s t i t u t e d , o r t h e s e r v i c e s o f a n a t t o r n e y a r e r e t a i n e d , t o i n t e r p r e t o r e n f o r c e a n y

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1	p r o v i s i o n o f t h i s A g r e e m e n t o r w i t h r e s p e c t t o a n y d i s p u t e r e l a t i n g t o t h i s A g r e e m e n t , t h e
2	p r e v a i l i n g p a r t y s h a l l b e e n t i t l e d t o r e c o v e r f r o m t h e l o s i n g p a r t y i t s a t t o r n e y s ' , p a r a l e g a l s ' ,
3	a c c o u n t a n t s ' , a n d o t h e r e x p e r t s ' f e e s a n d a l l o t h e r f e e s , c o s t s , a n d e x p e n s e s a c t u a l l y
4	i n c u r r e d a n d r e a s o n a b l y n e c e s s a r y i n c o n n e c t i o n t h e r e w i t h ( t h e “ F e e s ” ) . I n t h e e v e n t o f s u i t ,
5	a c t i o n , a r b i t r a t i o n , o r o t h e r p r o c e e d i n g , t h e a m o u n t o f F e e s s h a l l b e d e t e r m i n e d b y t h e j u d g e
6	o r a r b i t r a t o r , s h a l l i n c l u d e a l l c o s t s a n d e x p e n s e s i n c u r r e d o n a n y a p p e a l o r r e v i e w , a n d s h a l l

7b e i n a d d i t i o n t o a l l o t h e r a m o u n t s p r o v i d e d b y l a w .

9 1 5 . S t a t u t o r y L a n d U s e D i s c l a i m e r a n d M e a s u r e 3 7 D i s c l o s u r e . T H E P R O P E R T Y

10D E S C R I B E D I N T H I S I N S T R U M E N T M A Y N O T B E W I T H I N A F I R E P R O T E C T I O N D I S T R I C T

11P R O T E C T I N G S T R U C T U R E S . T H E P R O P E R T Y I S S U B J E C T T O L A N D U S E L A W S A N D

12	R E G U L A T I O N S , W H I C H , I N F A R M A N D F O R E S T Z O N E S , M A Y N O T A U T H O R I Z E
13	C O N S T R U C T I O N O R S I T I N G O F A R E S I D E N C E A N D T H A T L I M I T L A W S U I T S A G A I N S T

14F A R M I N G O R F O R E S T P R A C T I C E S A S D E F I N E D I N O R S 3 0 . 9 3 0 I N A L L Z O N E S . B E F O R E

15S I G N I N G O R A C C E P T I N G T H I S I N S T R U M E N T , T H E P E R S O N T R A N S F E R R I N G F E E T I T L E

16S H O U L D I N Q U I R E A B O U T T H E P E R S O N ’ S R I G H T S , I F A N Y , U N D E R C H A P T E R 1 , O R E G O N

17 L A W S 2 0 0 5 ( B A L L O T M E A S U R E 3 7 ( 2 0 0 4 ) ) . B E F O R E S I G N I N G O R A C C E P T I N G T H I S

18I N S T R U M E N T , T H E P E R S O N A C Q U I R I N G F E E T I T L E T O T H E P R O P E R T Y S H O U L D C H E C K

19 W I T H T H E A P P R O P R I A T E C I T Y O R C O U N T Y P L A N N I N G D E P A R T M E N T T O V E R I F Y

20A P P R O V E D U S E S , T H E E X I S T E N C E O F F I R E P R O T E C T I O N F O R S T R U C T U R E S A N D T H E

21R I G H T S O F N E I G H B O R I N G P R O P E R T Y O W N E R S , I F A N Y , U N D E R C H A P T E R 1 , O R E G O N

22L A W S 2 0 0 5 ( B A L L O T M E A S U R E 3 7 ( 2 0 0 4 ) ) .

24 1 6 . C a u t i o n a r y N o t i c e A b o u t L i e n s . U N D E R C E R T A I N C I R C U M S T A N C E S , A

25P E R S O N W H O P E R F O R M S C O N S T R U C T I O N - R E L A T E D A C T I V I T I E S M A Y C L A I M A L I E N

26U P O N R E A L P R O P E R T Y A F T E R A S A L E T O T H E P U R C H A S E R F O R A T R A N S A C T I O N O R

27A C T I V I T Y T H A T O C C U R R E D B E F O R E T H E S A L E . A V A L I D C L A I M M A Y B E A S S E R T E D

28A G A I N S T T H E P R O P E R T Y T H A T Y O U A R E P U R C H A S I N G E V E N I F T H E C I R C U M S T A N C E S

29 T H A T G I V E R I S E T O T H A T C L A I M H A P P E N E D B E F O R E Y O U R P U R C H A S E O F T H E

30P R O P E R T Y . T H I S I N C L U D E S , B U T I S N O T L I M I T E D T O , C I R C U M S T A N C E S W H E R E T H E

31O W N E R O F T H E P R O P E R T Y C O N T R A C T E D W I T H A P E R S O N O R B U S I N E S S T O P R O V I D E

32L A B O R , M A T E R I A L , E Q U I P M E N T O R S E R V I C E S T O T H E P R O P E R T Y A N D H A S N O T P A I D

33T H E P E R S O N S O R B U S I N E S S I N F U L L .

34
35	1 7 .	M i s c e l l a n e o u s . T i m e i s o f t h e e s s e n c e o f t h i s A g r e e m e n t . T h e f a c s i m i l e

36t r a n s m i s s i o n o f a n y s i g n e d d o c u m e n t i n c l u d i n g t h i s A g r e e m e n t , i n a c c o r d a n c e w i t h P a r a g r a p h

37	1 2 , s h a l l b e t h e s a m e a s d e l i v e r y o f	a n o r i g i n a l . A t t h e r e q u e s t o f e i t h e r p a r t y , t h e p a r t y
38	d e l i v e r i n g a d o c u m e n t b y f a c s i m i l e	w i l l c o n f i r m f a c s i m i l e t r a n s m i s s i o n b y s i g n i n g a n d

39d e l i v e r i n g a d u p l i c a t e o r i g i n a l d o c u m e n t . T h i s A g r e e m e n t m a y b e e x e c u t e d i n t w o o r m o r e

40 c o u n t e r p a r t s , e a c h o f w h i c h s h a l l c o n s t i t u t e a n o r i g i n a l a n d a l l o f w h i c h t o g e t h e r s h a l l

41c o n s t i t u t e o n e a n d t h e s a m e A g r e e m e n t . T h i s A g r e e m e n t c o n t a i n s t h e e n t i r e a g r e e m e n t a n d

42 u n d e r s t a n d i n g o f t h e p a r t i e s w i t h r e s p e c t t o t h e s u b j e c t m a t t e r o f t h i s A g r e e m e n t a n d

43s u p e r s e d e s a l l p r i o r a n d c o n t e m p o r a n e o u s a g r e e m e n t s b e t w e e n t h e m w i t h r e s p e c t t h e r e t o .

44	W i t h o u t l i m i t i n g t h e p r o v i s i o n s o f S e c t i o n 1 3 o f t h i s A g r e e m e n t , t h i s A g r e e m e n t s h a l l b e
45	b i n d i n g u p o n a n d s h a l l i n u r e t o t h e b e n e f i t o f t h e p a r t i e s a n d t h e i r r e s p e c t i v e s u c c e s s o r s a n d

46a s s i g n s . T h e p e r s o n s i g n i n g t h i s A g r e e m e n t o n b e h a l f o f B u y e r a n d t h e p e r s o n s i g n i n g t h i s

47A g r e e m e n t o n b e h a l f o f S e l l e r e a c h r e p r e s e n t s , c o v e n a n t s a n d w a r r a n t s t h a t s u c h p e r s o n h a s

48 f u l l r i g h t a n d a u t h o r i t y t o e n t e r i n t o t h i s A g r e e m e n t a n d t o b i n d t h e p a r t y f o r w h o m s u c h

49p e r s o n s i g n s t h i s A g r e e m e n t t o t h e t e r m s a n d p r o v i s i o n s o f t h i s A g r e e m e n t . T h i s A g r e e m e n t

50s h a l l n o t b e r e c o r d e d u n l e s s t h e p a r t i e s o t h e r w i s e a g r e e .

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1
2	1 8 .	A d d e n d u m s ; E x h i b i t s .	T h e f o l l o w i n g n a m e d a d d e n d u m s a n d e x h i b i t s a r e
3	a t t a c h e d t o t h i s A g r e e m e n t a n d i n c o r p o r a t e d w i t h i n t h i s A g r e e m e n t :			n o n e o r	.
4
5	1 9 .	T i m e f o r A c c e p t a n c e .	S e l l e r h a s u n t i l 5 : 0 0 p . m . P a c i f i c T i m e o n			t o
6	a c c e p t t h i s o f f e r . A c c e p t a n c e i s n o t e f f e c t i v e u n t i l a c o p y o f t h i s A g r e e m e n t w h i c h h a s b e e n
7	s i g n e d a n d d a t e d b y S e l l e r i s a c t u a l l y r e c e i v e d b y B u y e r . I f t h i s o f f e r i s n o t s o a c c e p t e d , i t
8	s h a l l e x p i r e a n d t h e E a r n e s t M o n e y s h a l l b e p r o m p t l y r e f u n d e d t o B u y e r a n d t h e r e a f t e r ,
9	n e i t h e r p a r t y s h a l l h a v e a n y f u r t h e r r i g h t o r r e m e d y a g a i n s t t h e o t h e r .

11 2 0 . S e l l e r ' s A c c e p t a n c e a n d B r o k e r a g e A g r e e m e n t . B y e x e c u t i o n o f t h i s

12A g r e e m e n t , S e l l e r a g r e e s t o s e l l t h e P r o p e r t y o n t h e t e r m s a n d c o n d i t i o n s i n t h i s A g r e e m e n t .


13	S e l l e r f u r t h e r a g r e e s t o p a y a c o m m i s s i o n t o		( “ B r o k e r ” ) i n t h e t o t a l a m o u n t c o m p u t e d i n
14	a c c o r d a n c e w i t h ( i ) t h e l i s t i n g a g r e e m e n t	o r o t h e r c o m m i s s i o n a g r e e m e n t d a t e d

15b e t w e e n S e l l e r a n d B r o k e r ; o r ( i i ) i f t h e r e i s n o w r i t t e n c o m m i s s i o n a g r e e m e n t , S e l l e r h e r e b y

a g r e e s t o p a y a c o m m i s s i o n o f

p e r c e n t (

%) o f t h e p u r c h a s e p r i c e o r

17$ . S e l l e r a n d B r o k e r a g r e e t h a t t h e c o m m i s s i o n i s d e e m e d e a r n e d a s o f t h e e a r l i e r o f

18 ( i ) C l o s i n g o r ( i i ) t h e d a t e B u y e r w a i v e s a l l c o n d i t i o n s p r e c e d e n t t o C l o s i n g a s s e t f o r t h i n t h i s

19A g r e e m e n t . U n l e s s o t h e r w i s e p r o v i d e d i n a s e p a r a t e w r i t t e n a g r e e m e n t , S e l l e r s h a l l c a u s e

20	t h e E s c r o w H o l d e r t o d e l i v e r t o B r o k e r t h e r e a l e s t a t e c o m m i s s i o n o n t h e C l o s i n g D a t e o r
21	u p o n S e l l e r ' s b r e a c h o f t h i s A g r e e m e n t , w h i c h e v e r o c c u r s f i r s t . I f t h e E a r n e s t	M o n e y i s
22	f o r f e i t e d a n d r e t a i n e d b y S e l l e r i n a c c o r d a n c e w i t h t h i s A g r e e m e n t , i n a d d i t i o n t o	a n y o t h e r
23	r i g h t s t h e B r o k e r m a y h a v e , t h e B r o k e r s h a l l b e e n t i t l e d t o t h e l e s s e r o f ( A ) f i f t y p e r c e n t

24( 5 0 %) o f t h e E a r n e s t M o n e y o r ( B ) t h e c o m m i s s i o n a g r e e d t o a b o v e , a n d S e l l e r h e r e b y a s s i g n s

25s u c h a m o u n t t o t h e B r o k e r .

27 2 1 . E x e c u t i o n D a t e . T h e E x e c u t i o n D a t e i s t h e l a t e r o f t h e t w o d a t e s s h o w n

28b e n e a t h t h e p a r t i e s ' s i g n a t u r e s b e l o w .

30 2 2 . G o v e r n i n g L a w . T h i s A g r e e m e n t i s m a d e a n d e x e c u t e d u n d e r , a n d i n a l l

31r e s p e c t s s h a l l b e g o v e r n e d a n d c o n s t r u e d b y t h e l a w s o f t h e S t a t e o f O r e g o n .

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1C O N S U L T Y O U R A T T O R N E Y . T H I S D O C U M E N T H A S B E E N P R E P A R E D F O R S U B M I S S I O N

2 T O Y O U R A T T O R N E Y F O R R E V I E W A N D A P P R O V A L P R I O R T O S I G N I N G . N O

3R E P R E S E N T A T I O N O R R E C O M M E N D A T I O N I S M A D E B Y T H E C O M M E R C I A L A S S O C I A T I O N

4	O F R E A L T O R S ® O R E G O N / S W W A S H I N G T O N O R B Y T H E R E A L E S T A T E L I C E N S E E S
5	I N V O L V E D W I T H T H I S D O C U M E N T A S T O T H E L E G A L S U F F I C I E N C Y O R T A X

6C O N S E Q U E N C E S O F T H I S D O C U M E N T .

8T H I S F O R M S H O U L D N O T B E M O D I F I E D W I T H O U T S H O W I N G S U C H M O D I F I C A T I O N S B Y

9 R E D L I N I N G , I N S E R T I O N M A R K S , O R A D D E N D A .

10
11	B u y e r	S e l l e r
12	B y	B y
13	T i t l e	T i t l e
14	E x e c u t i o n D a t e	E x e c u t i o n D a t e
15	T i m e o f E x e c u t i o n	T i m e o f E x e c u t i o n
16	H o m e P h o n e	H o m e P h o n e
17	O f f i c e P h o n e	O f f i c e P h o n e
18	A d d r e s s	A d d r e s s
19	C i t y	C i t y
20	Z i p	Z i p
21	F a x N o .	F a x N o .
22	E - M a i l	E - M a i l
23
24	S i g n a t u r e _________________________	S i g n a t u r e _________________________

E X H I B I T A

L E G A L D E S C R I P T I O N O F P R O P E R T Y

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E X H I B I T B

R E C O R D I N G R E Q U E S T E D B Y

A N D

W H E N R E C O R D E D M A I L T O :

C o m p a n y :

A d d r e s s :

C i t y , S t a t e , Z i p

A S S I G N M E N T O F L E S S O R ' S I N T E R E S T U N D E R L E A S E

T H I S A S S I G N M E N T O F L E S S O R ' S I N T E R E S T U N D E R L E A S E ( t h i s " A s s i g n m e n t " ) i s

m a d e a n d e n t e r e d i n t o a s o f t h i s

d a y o f

, b y a n d b e t w e e n

, a

( " A s s i g n o r " ) , a n d

, a

( " A s s i g n e e " ) .

R E C I T A L S

T h i s A s s i g n m e n t i s e n t e r e d i n t o o n t h e b a s i s o f a n d w i t h r e s p e c t t o t h e f o l l o w i n g f a c t s , a g r e e m e n t s a n d u n d e r s t a n d i n g s :

A . O n , , A s s i g n o r , a s L e s s o r , a n d ,a s L e s s e e , e n t e r e d i n t o

a c e r t a i n L e a s e , p u r s u a n t t o w h i c h s a i d L e s s o r d e m i s e d t o s a i d L e s s e e c e r t a i n r e a l p r o p e r t y

i n t h e C i t y o f, C o u n t y o f, S t a t e o f, m o r e p a r t i c u l a r l y d e s c r i b e d o n

E x h i b i t A , a t t a c h e d h e r e t o a n d m a d e	p a r t h e r e o f b y t h i s r e f e r e n c e ( t h e " P r o p e r t y " ) . S a i d
L e a s e i s h e r e i n a f t e r r e f e r r e d t o a s t h e	" L e a s e . "

B . B y a n i n s t r u m e n t d a t e d o f e v e n d a t e h e r e w i t h a n d r e c o r d e d i m m e d i a t e l y p r i o r t o t h i s i n s t r u m e n t , A s s i g n o r h a s s o l d a n d c o n v e y e d i t s f e e i n t e r e s t i n a n d t o t h e P r o p e r t y t o A s s i g n e e a n d , i n c o n j u n c t i o n t h e r e w i t h , A s s i g n o r h a s a g r e e d t o a s s i g n i t s i n t e r e s t a s L e s s o r u n d e r t h e L e a s e t o A s s i g n e e a n d A s s i g n e e h a s a g r e e d t o a s s u m e t h e o b l i g a t i o n s o f t h e L e s s o r u n d e r t h e L e a s e , a l l a s m o r e p a r t i c u l a r l y s e t f o r t h i n t h i s A s s i g n m e n t .

N O W , T H E R E F O R E , f o r g o o d a n d v a l u a b l e c o n s i d e r a t i o n , i n c l u d i n g t h e m u t u a l c o v e n a n t s a n d a g r e e m e n t s s e t f o r t h h e r e i n , A s s i g n o r a n d A s s i g n e e a g r e e a s f o l l o w s :

1 . A s s i g n m e n t .

A s s i g n o r h e r e b y s e l l s , a s s i g n s , g r a n t s , t r a n s f e r s a n d s e t s o v e r t o A s s i g n e e , i t s h e i r s , p e r s o n a l r e p r e s e n t a t i v e s , s u c c e s s o r s a n d a s s i g n s , a l l o f A s s i g n o r ' s r i g h t , t i t l e a n d i n t e r e s t a s L e s s o r u n d e r t h e L e a s e .

2 . A c c e p t a n c e o f A s s i g n m e n t a n d A s s u m p t i o n o f O b l i g a t i o n s .

A s s i g n e e h e r e b y a c c e p t s t h e a s s i g n m e n t o f t h e L e s s o r ' s i n t e r e s t u n d e r t h e L e a s e a n d , f o r t h e b e n e f i t o f A s s i g n o r , a s s u m e s a n d a g r e e s f a i t h f u l l y t o p e r f o r m a l l o f t h e o b l i g a t i o n s w h i c h a r e r e q u i r e d t o b e p e r f o r m e d b y t h e L e s s o r u n d e r t h e L e a s e .

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3 .		E f f e c t i v e D a t e .
	T h e e f f e c t i v e d a t e o f t h i s A s s i g n m e n t a n d e a c h a n d e v e r y p r o v i s i o n h e r e o f i s a n d s h a l l
b e		( t h e " E f f e c t i v e D a t e " ) .
4 .		A s s i g n o r ' s I n d e m n i t y o f A s s i g n e e .

A s s i g n o r h e r e b y a g r e e s t o d e f e n d ( w i t h c o u n s e l r e a s o n a b l y s a t i s f a c t o r y t o A s s i g n e e ) a n d i n d e m n i f y A s s i g n e e , i t s h e i r s , p e r s o n a l r e p r e s e n t a t i v e s , s u c c e s s o r s a n d a s s i g n s , a n d e a c h o f t h e m , f r o m a n d a g a i n s t a n y a n d a l l c l a i m s , s u i t s , d e m a n d s , c a u s e s o f a c t i o n , a c t i o n s , l i a b i l i t i e s , l o s s e s , d a m a g e s , c o s t s a n d e x p e n s e s ( i n c l u d i n g a t t o r n e y s ' f e e s ) a r i s i n g o u t o f o r r e s u l t i n g f r o m a n y a c t o r o m i s s i o n c o m m i t t e d o r a l l e g e d t o h a v e b e e n c o m m i t t e d b y A s s i g n o r a s L e s s o r u n d e r t h e L e a s e , i n c l u d i n g w i t h o u t l i m i t a t i o n a n y b r e a c h o r d e f a u l t c o m m i t t e d o r a l l e g e d t o h a v e b e e n c o m m i t t e d b y t h e L e s s o r u n d e r t h e L e a s e , p r i o r t o t h e d a t e o f t h i s A s s i g n m e n t .

5 . A s s i g n e e ' s I n d e m n i t y o f A s s i g n o r .

A s s i g n e e , f o r i t s e l f a n d o n b e h a l f o f i t s h e i r s , p e r s o n a l r e p r e s e n t a t i v e s , s u c c e s s o r s a n d a s s i g n s , h e r e b y a g r e e s t o d e f e n d ( w i t h c o u n s e l r e a s o n a b l y s a t i s f a c t o r y t o A s s i g n o r ) a n d i n d e m n i f y A s s i g n o r , i t s p a r t n e r s , a n d t h e i r r e s p e c t i v e d i r e c t o r s , o f f i c e r s , e m p l o y e e s , a g e n t s , r e p r e s e n t a t i v e s , s u c c e s s o r s a n d a s s i g n s , a n d e a c h o f t h e m , f r o m a n d a g a i n s t a n y a n d a l l c l a i m s , s u i t s , d e m a n d s , c a u s e s o f a c t i o n , a c t i o n s , l i a b i l i t i e s , l o s s e s , d a m a g e s , c o s t s a n d e x p e n s e s ( i n c l u d i n g a t t o r n e y s ' f e e s ) a r i s i n g o u t o f o r r e s u l t i n g f r o m a n y a c t o r o m i s s i o n c o m m i t t e d o r a l l e g e d t o h a v e b e e n c o m m i t t e d b y A s s i g n e e , i t s h e i r s , p e r s o n a l r e p r e s e n t a t i v e s , s u c c e s s o r s a n d a s s i g n s , a s L e s s o r u n d e r t h e L e a s e , i n c l u d i n g w i t h o u t l i m i t a t i o n a n y b r e a c h o r d e f a u l t c o m m i t t e d o r a l l e g e d t o h a v e b e e n c o m m i t t e d b y t h e L e s s o r u n d e r t h e L e a s e , o n o r a f t e r t h e d a t e o f t h i s A s s i g n m e n t .

6 . S u c c e s s o r s a n d A s s i g n s .

T h i s A s s i g n m e n t , a n d e a c h a n d e v e r y p r o v i s i o n h e r e o f , s h a l l b i n d a n d i n u r e t o t h e b e n e f i t o f t h e p a r t i e s h e r e t o a n d t h e i r r e s p e c t i v e h e i r s , p e r s o n a l r e p r e s e n t a t i v e s , s u c c e s s o r s a n d a s s i g n s .

7 . G o v e r n i n g L a w .

T h i s A s s i g n m e n t s h a l l b e c o n s t r u e d a n d i n t e r p r e t e d a n d t h e r i g h t s a n d o b l i g a t i o n s o f t h e p a r t i e s h e r e t o d e t e r m i n e d i n a c c o r d a n c e w i t h t h e l a w s o f t h e S t a t e w h e r e i n t h e P r o p e r t y i s l o c a t e d .

8 . H e a d i n g s a n d C a p t i o n s .

T h e h e a d i n g s a n d c a p t i o n s o f t h e p a r a g r a p h s o f t h i s A s s i g n m e n t a r e f o r c o n v e n i e n c e a n d r e f e r e n c e o n l y a n d i n n o w a y d e f i n e , d e s c r i b e o r l i m i t t h e s c o p e o r i n t e n t o f t h i s A s s i g n m e n t o r a n y o f t h e p r o v i s i o n s h e r e o f .

PURCHASE AND SALE AGREEMENT AND RECEIPT FOR EARNEST MONEY (OREGON)

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⇩ Money Agreement Oregon

File Features

Fact	Detail
Form Title	Commercial Association of REALTORS® Oregon/SW Washington Purchase and Sale Agreement and Receipt for Earnest Money (Oregon Commercial Form)
Document Purpose	To outline the terms and conditions of a real estate transaction, including the sale and purchase of property in Oregon.
Agency Acknowledgment	Both parties, buyer and seller, must acknowledge the agency relationships specified in the transaction before the delivery of the agreement to the seller.
Governing Law	Oregon Administrative Rules (OAR 863-015-0215) and applicable federal laws, including FIRPTA regulations if the seller is a foreign person.
Key Components	Real property details, purchase price, earnest money deposit, property inspections, seller's documents, title insurance, default remedies, and closing details.
Assignment Clause	Specifies conditions under which the buyer may or may not assign their rights under the agreement.
Property Condition	Seller provides representations regarding the property's compliance with laws and absence of material defects, with buyer to purchase the property "as is."
Closing and Costs	Details about the closing process, allocation of closing costs, prorates, and the provision for obtaining and paying for a title insurance policy.

Detailed Steps for Using Money Agreement Oregon

Filling out a Money Agreement form in Oregon involves a series of steps to ensure that all the necessary details regarding the purchase, sale, and earnest money receipt of a commercial property are accurately documented. This process not only formalizes the agreement between the buyer and seller but also outlines the terms and conditions of the sale, including real estate agency acknowledgment, purchase price, earnest money deposit, property inspection procedures, and closing details. Proper completion of this form is crucial in safeguarding the interests of both parties involved in the transaction and ensuring compliance with Oregon regulations. Here are the steps needed to fill out the form correctly:

Start by reading the Agency Acknowledgment section carefully. Both the buyer and seller need to acknowledge having received the Oregon Real Estate Agency Disclosure Pamphlet before executing the agreement.
In the first section, enter the date of agreement and provide the names and addresses of both the buyer and seller.
Detail the offer in the next section, specifying the real property and any improvements to be purchased, including the common address and legal description as referenced in Exhibit A.
If applicable, also include the seller’s rights, title, and interest in certain leases associated with the property as outlined in Exhibit B.
Indicate the total purchase price in the designated section and provide details on how it will be paid, including the amount of earnest money deposit and the method of its delivery to the Escrow Holder.
Review and complete sections regarding conditions to purchase, including approvals for property inspection, document review, and any other specified conditions.
Fill out the information required about the property inspection, ensuring all relevant tests and assessments are agreed upon by both parties.
Complete the sections on the delivery of seller’s documents and title insurance provisions, specifying deadlines and responsibilities.
Outline the procedures for the closing of the sale, including the obligations related to the fees simple title conveyance, recording of the document, and settlement of financial transactions through Escrow.
Specify closing costs, prorates, and any personal property included in the sale. Both parties must agree on the division of costs and on the assignment of leases and deposits.
Agree on the terms of possession, condition of the property, and whether the sale includes any personal property.
Ensure all notices, assignment terms, and provisions for attorney fees in case of a dispute are reviewed and understood by both parties.
Sign and date the agreement in the ACKNOWLEDGED section at the end of the document, with spaces provided for both the buyer and seller to print and sign their names along with the dates.

Once the Money Agreement form is fully completed and signed, the next step involves the execution of the agreement through the exchange of the document between the buyer and seller, and proceeding with the fulfillment of conditions for the sale as outlined in the agreement. This formalization of the agreement is crucial to protect both parties and ensure a clear understanding of the terms and conditions of the sale.

Important Points on This Form

What is a Money Agreement Oregon form?

A Money Agreement Oregon form is a legally binding document typically used in real estate transactions within the state of Oregon. This agreement outlines the terms and conditions under which a buyer agrees to purchase real property and any improvements on it from a seller. It includes details such as purchase price, earnest money deposit, property description, conditions to the purchase, and the rights and obligations of both parties involved. The form serves as a comprehensive agreement to ensure all aspects of the sale are clearly understood and agreed upon.

What is the purpose of the Agency Acknowledgment section?

The Agency Acknowledgment section is designed to confirm the nature of the relationship between the real estate agents and the parties involved in the transaction. Both the buyer and the seller acknowledge having received an Oregon Real Estate Agency Disclosure Pamphlet and consent to the specified agency relationships. This could include an agent representing the buyer exclusively, the seller exclusively, or both the buyer and seller in a limited agency capacity. This section ensures transparency and informed consent to the agency relationships in the transaction.

How is the earnest money handled in the Oregon Agreement?

The earnest money is a deposit made by the buyer as a sign of good faith, indicating the buyer's commitment to complete the purchase. This deposit is to be delivered to an escrow holder as defined within the agreement after the execution of the agreement by both parties. The earnest money can be in the form of cash, check, or promissory note, and it is applied to the purchase price at closing. If the buyer fails to complete the purchase under the terms agreed upon, the seller may have the right to retain the earnest money as detailed in the agreement.

What conditions might affect the buyer’s obligation to purchase?

The buyer's obligation to purchase the property as outlined in the agreement is contingent upon several conditions. These may include the approval of property inspections, document reviews, and any other specific conditions outlined in the agreement. If these conditions are not satisfactorily met or waived in writing by the buyer within a specified timeframe, the buyer may terminate the agreement, resulting in the earnest money being returned to the buyer. This clause protects the buyer from proceeding with the purchase if certain agreed-upon conditions are not met.

What does the closing of sale involve?

The closing of the sale is the final step in the transaction process, where ownership of the property is officially transferred from the seller to the buyer. This involves the recording of the deed transferring title to the buyer, the disbursement of the purchase price to the seller, and the settlement of closing costs and prorated fees. Both buyer and seller are required to deposit all necessary documents and funds with the title company or escrow agent to facilitate the closing. The agreement specifics, including any adjustments or credits, are finalized at this stage.

Who is responsible for the payment of taxes, assessments, and other fees at closing?

At closing, specific costs are allocated between the buyer and the seller. The seller typically pays the premium for the title insurance policy, while both parties share the escrow fees charged by the title company. Real property taxes, assessments, personal property taxes, and utilities are prorated as of the closing date. Any prepaid rents, security deposits, and other refundable deposits related to existing tenancies are assigned and delivered to the buyer. The agreement may detail additional responsibilities regarding payment of taxes and other fees.

How are disputes resolved if they arise from the agreement?

If disputes arise from the agreement, the involved parties may seek resolution through legal proceedings, including suits, actions, arbitrations, or other relevant processes. The prevailing party in such disputes may be entitled to recover reasonable attorneys' fees and costs associated with interpreting or enforcing the agreement. This clause encourages resolution of disputes and compensates the prevailing party for the expenses incurred in pursuing their claim.

Common mistakes

Filling out a Money Agreement Oregon form can seem straightforward, but many fall into common pitfalls that can easily be avoided. Here are some of the mistakes people often make:

Not reviewing the agency acknowledgment section carefully. It’s essential to understand the nature of the relationship between the buyer, seller, and their agents. This section outlines who represents whom, and misunderstanding this can lead to confusion down the line.
Skipping the earnest money details. The form specifies how the earnest money should be handled, including the amount, form of payment, and deposit instructions. Overlooking this section can delay the process or cause disputes.
Ignoring the property description and attachments. A complete and accurate description of the property being bought or sold is crucial. Failing to attach the necessary exhibits or legal descriptions can invalidate the agreement.
Omitting conditions to the purchase. This section allows the buyer to specify conditions that must be met for the purchase to proceed, such as satisfactory inspections. Not specifying these conditions can lead to issues if the buyer discovers problems with the property later.
Overlooking closing and possession dates. Specific dates are crucial for a smooth transaction. Buyers and sellers need to pay attention to these dates to ensure they’re prepared for closing and transferring possession.
Assuming all personal property is included. The agreement should clearly specify which personal property items are included in the sale. Assuming items are included without expressly stating so can lead to misunderstandings.
Not properly addressing required notices. The agreement outlines how and when notices should be delivered among the parties. Ignoring this protocol can lead to ineffective communication and possible legal issues.
Misunderstanding assignment and assumption terms. This part of the form deals with the buyer’s ability to assign their rights. Buyers and sellers should understand these terms to avoid unexpected complications.

Being attentive to these areas can prevent many common problems when completing the Money Agreement Oregon form.

Documents used along the form

When handling transactions related to the Money Agreement Oregon form, various other forms and documents can be crucial in ensuring a comprehensive and legally binding agreement. These documents often serve specific purposes, such as clarifying terms of the agreement, ensuring compliance with local laws, or providing protections to both parties involved. Below is a detailed list of such forms and documents typically used alongside the Money Agreement Oregon form.

Addendum to Purchase and Sale Agreement: Used to include additional terms or information not covered in the original agreement.
Disclosure Statement: A document where sellers disclose known defects and conditions of the property.
Title Insurance Policy: Protects buyers and lenders from potential losses caused by defects in title.
Property Inspection Report: Conducted by a professional inspector, this report outlines the condition of the property, including any necessary repairs.
Bill of Sale: Transfers ownership of personal property included in the sale (e.g., appliances or furniture).
Escrow Agreement: A contract outlining the terms and conditions under which an escrow agent holds and disburses funds or documents.
Loan Documents: For transactions involving financing, these include the promissory note and mortgage or deed of trust.
IRS Form 1099-S: Used to report proceeds from real estate transactions to the Internal Revenue Service.
Statement of Closing Costs: A detailed list of all the fees and charges the buyer and seller must pay at closing.

These documents, while not exhaustive, play a significant role in the buying and selling process. Each serves to clarify, protect, or define the responsibilities and rights of the parties involved. Employing these forms appropriately ensures that the transaction adheres to legal standards and that both buyer and seller understand their obligations clearly.

Similar forms

The Money Agreement Oregon form closely resembles a Real Estate Purchase Agreement used elsewhere, sharing a fundamental structure that outlines the terms under which property is sold and purchased, including the parties involved, property details, purchase price, and conditions to the sale. Such agreements are universally designed to create legally binding obligations between buyers and sellers, detailing every aspect of a real estate transaction to ensure clarity and protect both sides' interests.

Similar to a Lease Agreement, which governs the rental of property, the Money Agreement delineates the specifics of a transaction. However, instead of detailing the terms of tenancy, it specifies the terms of sale and earnest money arrangements, marking the buyer's commitment towards purchasing. Both documents are essential for the respective arrangements they represent, setting out rights, responsibilities, and expectations clearly.

An Earnest Money Receipt is akin to the Money Agreement in that it also deals with earnest money but is more focused. While the Money Agreement encompasses the entirety of the purchase agreement alongside receipt acknowledgment, an Earnest Money Receipt specifically acknowledges receipt of the earnest money deposit, serving as a pivotal proof in the preliminary stages of a property sale transaction.

Assignment of Contract forms bear resemblance as they involve the transfer of rights or obligations under a contract from one party to another. In the context of a Money Agreement Oregon form, such an assignment might relate to the buyer transferring their rights to purchase the property to a third party, indicating the fluidity and assignable nature of contractual real estate engagements.

Bills of Sale are similar to the Money Agreement when it pertains to the inclusion of personal property in the sale of real estate. The Money Agreement may specify that certain fixtures or personal property are to be included with the sale, much like a Bill of Sale would detail the items being sold and transferred from one owner to another, evidencing the transfer of ownership.

Likewise, Escrow Agreements share a purposeful connection with the Money Agreement, as they outline the holding and eventual disbursal of earnest money by a neutral third party until the transaction's terms are fulfilled. This escrow process ensures that the earnest money is properly managed and disbursed in accordance with the agreement’s terms, safeguarding the interests of both buyer and seller.

Title Insurance Commitments are related documents, ensuring the buyer that the property title is clear of liens or claims that could affect ownership. The Money Agreement outlines the terms under which the property is sold, including any title insurance provisions, underscoring the importance of clear property title in real estate transactions.

Notice of Fulfillment forms are comparable insofar as they are often a part of the transaction process detailed in a Money Agreement. Such notices indicate that specific conditions of the sale, like inspections or financing approval, have been met. This makes them a critical step in progressing towards the closing of the sale, as outlined in the broader Money Agreement.

Property Disclosure Statements, while not a direct part of a Money Agreement, are necessarily related, as they provide the buyer with known information regarding the property’s condition before the sale. This information can significantly influence the negotiations and terms included in the Money Agreement, highlighting the interconnectedness of documentation in real estate transactions.

Finally, a Loan Agreement may also be linked to the process delineated by a Money Agreement, especially if the purchase involves financing. The buyer’s ability to secure financing on agreeable terms is often a condition of the sale, and the successful negotiation of a Loan Agreement is crucial to fulfilling the buyer’s obligations under the Money Agreement.

Dos and Don'ts

When participating in a real estate transaction in Oregon, particularly when filling out the signature Money Agreement form, it's essential to approach the document with caution, understanding, and accuracy. This document plays a pivotal role in outlining the terms, conditions, and understandings between the buyer and the seller. Below are crucial dos and don'ts to guide you through this process effectively.

Do:

Read every section thoroughly before filling out the form to ensure you understand all the terms and conditions stated.
Provide accurate details regarding the property, including the full legal description and any applicable lease information as mentioned in Exhibits A and B.
Confirm the earnest money details, including the amount and the method of delivery, to ensure compliance with Section 1.1 of the agreement.
Review and adhere to the timelines for depositing the earnest money as outlined, recognizing the importance of these deadlines in the validity of the agreement.
Understand the rights and obligations related to property inspections as specified, acknowledging the buyer's responsibility for costs and the necessity of seller's consent for access.
Carefully examine the title insurance requirements and the processes for addressing exceptions to ensure clear title transfer.
Ensure all parties have acknowledged receipt of the Oregon Real Estate Agency Disclosure pamphlet, as required by Oregon Administrative Rules (OAR 863-015-0215).
Validate all the buyers' and sellers' signatures are on the document to legally bind the agreement.
Pay close attention to the closing and possession dates, understanding their implications on the transaction.
Keep a copy of the completed form for your records, ensuring that all parties have access to this important document.

Don't:

Leave any fields blank. If a section does not apply, clearly mark it as "N/A" to indicate your acknowledgment of the question without applicable details.
Assume any verbal agreements or understandmeings are binding; ensure all agreements are documented in writing on the form.
Overlook the requirement for both buyer and seller to execute the Agency Acknowledgment, as this ensures clear understanding of agency representation.
Forget to attach required exhibits, such as the legal description of the property and any lease agreements, as they are integral parts of the agreement.
Ignore the implications of the buyer's approval of inspections, surveys, and the property condition report, as these can significantly impact the agreement's fulfillment.
Misunderstanding the default and remedies section can lead to missed opportunities for recourse in the event of a breach.
Underestimate the importance of the section detailing notice requirements for communication during and after the transaction process.
Omit reviewing and understanding all conditions that must be fulfilled for the transaction's closure to proceed as planned.
Fail to acknowledge the clause on personal property included in the sale, which must be clearly itemized and agreed upon by both parties.
Neglect to seek legal advice if any part of the agreement is unclear, particularly regarding terms, conditions, or obligations stated within.

Navigating through the Money Agreement form in Oregon requires detailed attention to every section to ensure the agreement's terms reflect the mutual understanding and intent of both the buyer and the seller. Falling short of fulfilling any listed requirements can lead to misunderstandings, legal complications, or the nullification of the agreement altogether. Therefore, adherence to the aforementioned dos and don'ts is crucial for a smooth and legally compliant real estate transaction.

Misconceptions

When it comes to the Money Agreement Oregon form, particularly for real estate transactions, there are several misconceptions that people commonly hold. Understanding these misconceptions is important for anyone involved in buying or selling property in Oregon. Here are ten common misunderstandings and clarifications about this specific form:

Misconception 1: The Money Agreement Oregon form is only for residential property transactions. Clarification: This form is designed for commercial property transactions, as indicated by its association with the Commercial Association of REALTORS® Oregon/SW Washington.
Misconception 2: Earnest money is optional in Oregon real estate transactions. Clarification: The form requires the buyer to submit an earnest money deposit as a show of good faith when the agreement is executed, indicating its critical role in the transaction.
Misconception 3: The seller's acceptance of the agreement automatically means the sale is final. Clarification: Seller's execution of the Agency Acknowledgment does not constitute acceptance of the agreement or its terms; it simply acknowledges receipt.
Misconception 4: A property's listed conditions to purchase aren't subject to change. Clarification: The purchase conditions outlined in the agreement, such as property inspections and document reviews, are negotiable and can be modified before finalizing the agreement.
Misconception 5: Buyers are responsible for all closing costs. Clarification: The agreement outlines that certain closing costs are equally divided between the buyer and seller, whereas others may be negotiated as part of the sale terms.
Misconception 6: Buyers can't back out once the earnest money is deposited. Clarification: If conditions to the buyer's obligation aren't satisfied or waived, the agreement can be terminated, and the earnest money may be returned to the buyer.
Misconception 7: All personal property on the premises is included in the sale. Clarification: Only the personal property specifically listed and agreed upon in the Bill of Sale is included; buyers should ensure this list is comprehensive.
Misconception 8: Property inspections are the responsibility of the seller. Clarification: Buyers must conduct their own property inspections at their expense, a critical step in due diligence before purchasing.
Misconception 9: The Money Agreement Oregon form applies statewide without variations. Clarification: While this form is a standard document, specific terms and conditions, along with local regulations, may necessitate adjustments or additional documentation.
Misconception 10: Assignment of the agreement to another party is always permitted. Clarification: The agreement stipulates conditions under which assignment is allowed. Typically, the seller's prior written consent is required unless otherwise agreed.

Understanding these aspects of the Money Agreement Oregon form helps both buyers and sellers navigate commercial real estate transactions more effectively, ensuring both parties have clear expectations and a mutual agreement on the terms of sale.

Key takeaways

Filling out and using the Money Agreement in Oregon involves several crucial steps and legal considerations every party should be aware of before entering into a transaction. Here are seven key takeaways:

The Money Agreement must be executed by both parties—buyer and seller—acknowledging the receipt of the Oregon Real Estate Agency Disclosure Pamphlet and consenting to the agency relationships defined within the transaction.
It is vital to accurately enter the details of the real property, including its common address and legal description, as these details are essential for the identification and sale of the property.
Provisions related to earnest money, including the amount and the form in which it is deposited, are clearly stated. This earnest money acts as a security deposit to ensure the buyer's intent and ability to purchase the real property.
Conditions to the purchase, if any, should be comprehensively detailed in writing, including buyer’s approval of inspections and reviews. This ensures that the buyer has the right to waive or satisfy these conditions before proceeding with the transaction.
The agreement affirmatively outlines the responsibilities of both the buyer and the seller with regard to property inspections, delivery of seller documents, title insurance, closing costs, and possession details, providing a clear framework for the transaction.
In case of default by either party, the agreement delineates the remedies available to the non-defaulting party. This includes retaining the earnest money as a remedy for the seller, and pursuing legal or equitable remedies, including specific performance, for the buyer.
Key specifics regarding the closing of the sale, such as the closing date, documents, and funds required to close the transaction, are specified. The agreement also details who pays for what part of the closing costs and how taxes, assessments, rents, and other financial considerations are pro-rated or assigned.

By adhering to the structured guidance provided in the Money Agreement Oregon form, parties can ensure a legally sound process for transferring real property. This not only helps in avoiding potential disputes but also ensures clarity and fairness in the real estate transaction process.

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