Commercialagreementto Buyand Sell

COMMERCIALAGREEMENTTO BUYAND SELL

ListingFirmListingAgentPhone

SellingFirmSellingAgentPhone

ReceivedbyDesignatedAgentDateTime

1TheundersignedagreetobuyandselltheSubjectPropertyuponthetermsandconditionsstatedbelow.

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3SUBJECTPROPERTY:

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5LEGALDESCRIPTION:

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7withthelegaldescriptiontoprevailorasdescribedontheattachedexhibit.Thesaleshallinclude allpropertyownedbySellerand

8permanentlyattachedtotheabovedescribedproperty.

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10APPROXIMATELOTSIZE:

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12SALEPRICE:$

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14TERMSOFSALE:(Checkoneofthefollowing)

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16[] Allcashatclosing

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18[] Newfinancingwitha $

downpaymentwiththebalanceof$

upontermsand

19conditionsacceptabletotheBuyer.ShouldBuyerfailtofurnishSeller withawrittenloancommitmentfroma lender,without

20contingenciesexceptsubjecttoapprovaloftitle, within

calendardaysaftertheeffectivedateofthis

21Agreement,thisAgreementshallbecomenullandvoidand Buyer’sdepositshallbeimmediatelyrefunded.Buyerauthorizesand

22instructslendertoreleasetoSellerorSeller’sAgent, writtenverificationoftheloanapplicationandfinalloancommitment.

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24APPRAISAL.[]ThissaleisNOTconditioneduponappraisal.

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26[] Thissaleisconditionedonappraisal.Buyershallhave

calendardayscommencingonthe

27dayaftertheEffectiveDateoftheAgreement(the “AppraisalPeriod”)to havethesubjectpropertyappraisedbya Louisiana

28certifiedrealestateappraiser.IntheeventtheappraisedpriceislessthantheSalePrice,theBuyer,priortoexpirationofthe

29AppraisalPeriod,shallfurnishtheSeller witha copyofsaidappraisalandBuyer’swrittenrequesttoadjusttheSalePrice. Failure

30oftheBuyertoproperlynotifySellerpriortotheexpirationoftheAppraisalPeriodshallconstituteawaiverofthisappraisal

31contingencyandBuyer’sacceptanceoftheSalePricestatedherein.IntheeventtheBuyerandSellercannotagreeuponan

32adjustedSalePricewithinfive (5)calendardaysafterSeller’sreceiptofa copyoftheappraisalandBuyer’srequesttoadjustthe

33SalePrice,Buyer may,priortotheendofthefive(5)calendardayperiod,declarethisAgreementnullandvoidand Buyer’s

34depositshallbeimmediatelyrefunded.FailureofBuyerto make saidtimelydeclarationshallconstituteBuyer’sacceptanceofthe

35SalePricestatedhereinandBuyershallproceedtoclosingofthesalesubjecttotheremainingtermsandconditionsofthis

36Agreement.

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38DEPOSIT.Within

daysaftertheeffectivedateofthisAgreement,Buyeragreestoimmediatelydepositthesumof

39$

with

asa goodfaithdeposit.FailurebyBuyertodo so

40shallrenderthisAgreementnullandvoid.Ifthepartiesfailtoexecutean ActofSalebythedatespecifiedherein,and/orthe

41partiesdo notagreetoa mutualreleaseofthedeposit,thedepositshallbedisbursedinaccordancewiththeLouisianaRealEstate

42licenselawandtheRulesandRegulationsoftheLouisianaRealEstateCommissionregardingdeposits.

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44SECURITYDEPOSITS.Ifapplicable,SellershallpayovertotheBuyeratclosingallsecuritydepositsheldbySellerpursuant

45toanylease Agreementsandshallprovidebuyerwitha detailedaccountingofsaiddeposits.

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47DUEDILIGENCE.Buyershallhave

calendardayscommencingonthedayaftertheeffectivedateofthisAgreement

48(the“DueDiligencePeriod”)toconductallnecessaryduediligencewhichmayinclude,butnotlimitedto,a feasibilitystudy,

49propertyinspection(includingallmechanicalequipment,plumbing,andelectricalsystems),determineavailabilityofutilities,

50zoningconditions,subdivisionanddeedrestrictions,floodzoneclassification,soilconditions,possibilityofpresenceofwood-

51destroyinginsects,existenceofhazardousortoxic materials,siteplans,permitrequirements,conformanceofpropertytolocal

52buildingandfirecodes,anyreplattingrequirementandanyotherfactorsorconditionswhich mightaffecttheproperty.Seller

53herebyauthorizesBuyeroritsagentstoenteruponthesubjectpropertyforthepurposeof makingsaidinspections.Buyeragrees

54toreleaseandindemnifySellerfromandagainstallliability,costsandexpensesforlossordamagetothepropertyand forinjuries

55toordeathofanypersonorpersonsarisingoutofsaidentryandinspections.ShouldBuyer’sinspectionrevealfactorsor

56conditionsunacceptabletoBuyer,inBuyer’ssolediscretion,BuyershallnotifySeller,inwriting,priortoexpirationoftheDue

57DiligencePeriod,ofBuyer’sintentionnottoacceptthepropertyandthisAgreementshallbecomenullandvoidandBuyer’s

58depositshallbeimmediatelyrefunded.FailureofBuyertotimelyandproperlynotifySellershallconstituteawaiverofthisdue

59diligencecontingencyandBuyer’sacceptanceoftheproperty.

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61SURVEY.

62SubjectProperty.

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shallberesponsibleforanycostsrequiredfora surveyorreplattingofthe

64RECORDSANDCONTRACTS.Ifapplicable,SelleragreestomakeimmediatelyavailabletoBuyer,orBuyer’sAgent,copies

65ofallleases,servicecontracts,taxbills,depositreceipts,rentrolls,insurancepolicies,maintenancerecords,andallother records

66relatingtotheproperty.

67CONDITIONOFPROPERTY.BuyerandSelleragreeandstipulatethatthepropertyisbeingsoldandpurchasedsubjecttoall

68rights-of-way,easementsandservitudes,visibleorapparentorofrecordinan“AS-IS”conditionandBuyerwaivesanyandall

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69rightsto Redhibitionincludinga returnofallorpartofthepurchaseprice.Thiswaiverapplieswithrespecttoalldefects,whether

70apparentorlatent,visibleornotandregardlessofwhetherBuyerispresentlyawareofsuchdefects.BuyeracknowledgesSelleror

71Seller’srepresentativeshave madenowarrantiesastoanymatter,includingmerchantability,quantityorqualityofthe property,or

72fitnessforintendedorordinaryuse.BuyerherebywaivesanyandallrightsBuyermayhaveinconnectiontherewith.Buyer

73understandsthemeaningandsignificanceofthisprovision.

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75PRORATION.Allpropertytaxesand,ifapplicable,taxesonmovablesincludedinsale, utilities,operatingcosts,rentalsand

76otherrevenuesshallbeproratedasofthedateofclosing.

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78CONTRACTSFORSERVICES.Seller willdiscloseallservicecontractsandwillberesponsibleforanythattheBuyerwillnot

79beassumingafterthesale.

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81CHANGESDURINGTRANSACTION.Duringthependencyofthistransaction,Selleragreesthat nochangesinthe

82existingleaseswillbemade,no newleases willbeenteredinto,andno substantialalterationsorrepairs willbemadeor

83undertakenwithoutwrittenconsentoftheBuyer.

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85MINERALRIGHTS.(Checkoneofthefollowing):

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87[] SellershalltransfertoBuyer

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%ofthe mineralrightsand/orroyaltyinterest,ifany,currentlyownedbySeller.

89[] SellerreservesuntoSellerandSeller’sheirs,successorsandassigns,alloil,gasandmineralslyingin,onorbelowthesubject

90property,provided,however,Sellershallhavenorighttothe useofthesurfaceofthepropertyandanyandallactivitiesrelativeto

91theexplorationfor,discoveryofandproductionofanyandall mineralsshallbeconductedstrictlybyoffsiteoperationssuchas

92directionaldrillingand/orunitization.

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94CLOSINGDATEANDCOSTS.ThesaleshalltakeplacebeforeBuyer’sClosingAgentwithin

calendar

95daysafterexpirationoftheDueDiligencePeriodandallcostsnecessarytoclosesaidsale, including,butnotlimitedto,title

96examinationand/ortitleinsurance,andappraisal,shallbeattheexpenseoftheBuyerexceptSellershallberesponsiblefor all

97costsincurredforcurativetitlework,mortgagecancellationandothersellerrelatedcosts.Selleragreestodeliveramerchantable

98title freeandclearofanyandallliensandencumbrances.IntheeventBuyer’stitleexaminationshalldisclosedefectsinthetitle,

99Sellershallhave

()days fromreceiptofnoticeofsaidtitledefectstomakea goodfaithefforttocuresuchdefects.If

100 saidtimeperiodwillexpireaftertheclosingdateoutlinedhereinabove,saidclosingdateshallbeautomaticallybeextendedso

101 astoallowSellerthecompletesaidtimeperiodtocuresaiddefects.Theclosingdateshallalsobeautomaticallyextendedto

102 fifteen(15)daysafterSellercuressaidtitledefects.Ifsuchdefectscannotbecured withinsaidtimeperiod,Buyer may,atits

103 election,takethetitleasitthenisorterminatethisAgreement.IfBuyerchoosestoterminatethisAgreementduetoSeller’s

104 inabilitytocuresaidtitledefects,Buyershall beentitledtoreturnofthedeposit.Buyershallbegivenoccupancyuponexecution

105 oftheActofSaleunlessotherwiseagreedtoinwritingbetweentheparties.

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107 COMMISSION.BuyerandSellerherebyrepresenttoone anotherthatnorealestateagentorbrokerisentitledtoanyfeesor

108 commissionsinconnectionwiththetransactionscontemplatedhereunder,except

and

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110 Agreement.

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. Commissionsto Buyer’sBrokershouldbefurtherexplainedina separateCommission

112 NOTICES.All noticeswhich mayberequiredhereinshallbeinwritinganddeliveredby(1)personaldeliverywithreceipt

113 acknowledged(2)UnitedStatesCertifiedMail,returnreceiptrequested,postageprepaid(3) nationalovernightdeliveryservice,

114 withreturnreceipt,deliverychargeprepaid(4)facsimiletofax numberslistedbelow,or (5)emailed withdeliveryconfirmation

115 totheemailaddresseslistedbelow:

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117 Seller:

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123 Buyer:

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Fax: Email:

Fax: Email:

129 BREACHOFAGREEMENTBYSELLER.IntheeventofanydefaultofthisAgreementbySeller,BuyershallatBuyer’s

130 optionhavetherighttodeclarethisAgreementnullandvoidand demandand/orsue foranyofthefollowing:(1)Terminationof

131 thisAgreement(2)Specificperformance(3)TerminationofthisAgreementandanamountequaltotenpercent(10%)ofthe

132 PurchasePriceasstipulateddamages.Further,Buyershallbeentitledtothereturnofthe deposit.TheSellermayalsobeliable

133 forBrokerfees.

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135 BREACHOFAGREEMENTBYBUYER.IntheeventofanydefaultofthisAgreementbyBuyer,Sellershall haveatSeller’s

136 optiontherighttodeclarethisAgreementnullandvoidand demandand/orsue foranyofthefollowing:(1)Terminationofthis

137 Agreement(2)Specificperformanceor(3)TerminationofthisAgreementandanamountequaltotenpercent(10%)oftheSale

138 Priceasstipulateddamages.Further,Sellershallbeentitledtoretainthedeposit.TheBuyer mayalsobeliableforBrokerfees.

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140 ATTORNEY’SFEES.ShouldeitherpartyinstitutelegalproceedingstoenforcethetermsorconditionsofthisAgreement,the

141 prevailingpartyshallbeentitledtorecoverfromthenon-prevailingpartyalloftheprevailingparty’sreasonableattorney’sfees,

142 costsandotherexpensesreasonablyandnecessarilyincurred.

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144 CONFIDENTIALITY.Buyeragreesthatthetermsandconditionshereinarefortheexclusiveknowledgeofthepartieshereto

145 andaretobe heldinstrictconfidenceandnotrevealedtoanyoneelseuntilaftertheclosing.Intheeventa closingfailstotake

146 place,theBuyerisnottorevealthetermsandconditionsofthisAgreementtoanyonewithoutexpresspermissionfromtheSeller.

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149 OTHERTERMSANDCONDITIONS:

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160 MULTIPLECOUNTERPARTS.This Agreementmaybeexecutedinanynumberofcounterpartsbyoneormoreparties

161 hereto.AsignedfacsimileofthisAgreementorcounterpartwithoriginalsignaturesorfacsimilesignaturesshallhavethe same

162 bindinglegaleffectasanoriginalofthisAgreementororiginalcounterparts,whichoriginalsignatureswouldhave.

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164 EFFECTIVEDATE.IntheeventthisAgreementisnotsignedsimultaneously,theeffectivedateofthisAgreementshallbethe

165 dateofthelast signaturetothis Agreement.TimeisoftheessenceofthisAgreement.Wheneverthetimeforperformanceunder

166 thisAgreementfallsona Saturday,Sundayorlegalholiday,suchtimeshallbedeemedtobeextendedtothe nextbusinessday.

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168 LEGALCAPACITY.TheundersignedSelleristhelegalownerofrecordofthe subjectpropertyand/orhasthelegalcapacity

169 andauthoritytoconveyandtransferthesubjectproperty.TheundersignedBuyerhasthelegalcapacityandauthoritytopurchase

170 thesubjectproperty.

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172 ENTIREAGREEMENT.ThisAgreementconstitutestheentireagreementbetweenthe partiesandanyotheragreementsnot

173 incorporatedhereininwritingare voidandofnoforceandeffect.

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175 ASSIGNABILITY.BuyershallhavetherighttoassignthisAgreementandallofBuyer’srightsandremedieshereunder.Insuch

176 case,Buyershallnotberelievedofallobligationshereunder.

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178 DISCLAIMER.NeithertheSeller,noranyagent/broker,makesanyrepresentativesorwarrantiesregardingtheconditionofthe

179 propertyexcepttotheextentexpresslyandspecificallyset forthherein.Buyerhastheobligationtodetermineanyandall

180 conditionsofthepropertymaterialtotheBuyer’sdecisiontobuytheproperty.Agent/Brokerhasactedonlyasrealestatebroker

181 tobringthepartiestogetherandwillinnocasebeliablefor performanceor non-performanceofanypartofthisAgreementorfor

182 anywarrantyofthisnature.Additionally,agent/brokerisnotresponsibleforanyoralrepresentationsmadebyagent/brokerto

183 BuyerorSellerandBuyerandSelleracknowledgethattheyeitherhadorwillhaveanopportunitytoinvestigateallpertinentfacts

184 andto seekadvice fromanyotherprofessionals.

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186 EXPIRATIONOFOFFER.Thisoffershallexpire

(time)

(date)unless

187 Seller’swrittenacceptanceis deliveredtoBuyerorBuyer’sagentpriorto saidtimeanddate.

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190 BUYER(signature)DateTime

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193 PrintedFullLegalName/Title

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196 BUYER(signature)DateTime

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199 PrintedFullLegalName/Title

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201 ACCEPTANCE.TheundersignedSellerherebyacceptstheaboveoffer(chooseoneofthefollowing):[] aswritten []as

202 percounterofferoraddendumorexhibit attachedheretoandmadea partofhereofonthedateandtimewrittenbelow.

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205 SELLER(signature)DateTime

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208 PrintedFullLegalName/Title

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211 SELLER(signature)DateTime

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214 PrintedFullLegalName/Title

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