Land Purchase Agreement for Investment Template
save
save
copy
downloadDownload
save
save
save
copy
copy

Land Purchase Agreement for Investment

I. Agreement Overview

This Land Purchase Agreement for Investment ("Agreement") is entered into on January 2, 2050, by and between [Your Company Name], a corporation with its primary office located at [Your Company Address] (hereinafter referred to as the "Seller"), and ApexCorp, a corporation with its principal address at Chandler, AZ 85224 (hereinafter referred to as the "Buyer").

This Agreement specifies the terms and conditions under which the Seller agrees to sell and the Buyer agrees to purchase the land described herein for investment purposes.

II. Description of the Property

The subject property ("Property") is described as follows:

  1. Location: 365 Investment Lane, Chandler, AZ 85224.

  2. Size: Approximately 30 acres of prime undeveloped land designated for mixed-use development.

  3. Parcel Identification Number: AZ-CHND-INV-0147.

  4. Legal Description: Fully detailed in Exhibit A, attached and incorporated into this Agreement.

III. Purchase Price and Payment

1. Total Purchase Price

The agreed purchase price for the Property is $3,750,000 ("Purchase Price").

2. Earnest Money Deposit

The Buyer shall provide an earnest money deposit of $375,000 within five (5) business days of signing this Agreement. This deposit will be held in escrow by [Escrow Agent’s Name] and applied to the Purchase Price at closing.

3. Balance of Payment

The remaining balance of $3,375,000 shall be paid by the Buyer at closing via wire transfer to the Seller’s designated account.

IV. Due Diligence Period

1. Inspection Rights

The Buyer is granted a due diligence period of 45 days starting from the effective date of this Agreement. During this time, the Buyer may conduct any investigations deemed necessary, including but not limited to:

  • Environmental assessments.

  • Title searches.

  • Utility infrastructure analysis.

  • Land surveys and feasibility studies.

2. Termination for Cause

If the Property is deemed unsuitable for investment during the due diligence period, the Buyer may terminate this Agreement by providing written notice to the Seller. In such a case, the earnest money deposit will be refunded in full.

V. Representations and Warranties

1. Seller’s Representations

The Seller warrants that:

  • It holds clear, marketable, and insurable title to the Property.

  • The Property is free of encumbrances, except as disclosed in Exhibit B.

  • There are no ongoing legal disputes or violations related to the Property.

2. Buyer’s Representations

The Buyer warrants that:

  • It has the financial resources to complete this purchase.

  • It is acquiring the Property for lawful investment purposes.

VI. Closing Details

1. Closing Date

Closing shall occur no later than April 1, 2050, unless an alternative date is agreed upon in writing by both parties.

2. Closing Location

The closing will take place at [Your Company Name]’s designated title office or through an online secure documentation platform.

3. Seller’s Deliverables

At closing, the Seller shall provide:

  • A duly executed General Warranty Deed.

  • A current Title Insurance Policy guaranteeing marketable title.

  • Copies of any existing permits or entitlements related to the Property.

4. Buyer’s Deliverables

The Buyer shall deliver:

  • The remaining balance of the Purchase Price.

  • Any required closing fees or documentation.

VII. Default

1. Buyer’s Default

If the Buyer fails to fulfill its obligations under this Agreement, the Seller may terminate the Agreement and retain the earnest money deposit as liquidated damages.

2. Seller’s Default

If the Seller fails to deliver clear title or fulfill its obligations, the Buyer may terminate this Agreement and receive a full refund of the earnest money deposit or pursue legal remedies.

VIII. Investment Restrictions

1. Development Timeline

The Buyer acknowledges that any development on the Property must commence within 24 months of closing, subject to local zoning and development laws.

2. Transfer of Ownership

The Buyer agrees not to resell or transfer the Property within the first 12 months after closing, unless otherwise approved in writing by the Seller.

IX. Governing Law

This Agreement shall be governed by the laws of the State of Arizona, and any disputes arising under this Agreement shall be resolved in the courts located within the State of Arizona.

X. Termination Conditions

This Agreement may be terminated under the following circumstances:

  1. By mutual written consent of both parties.

  2. By the Buyer during the due diligence period for valid cause.

  3. By the Seller if the Buyer fails to meet the payment deadlines.

XI. Signatory Section

This Agreement is executed by authorized representatives of both parties as of the date first written above.

For [Your Company Name]

Signed by: [Your Name]
Title: Chief Executive Officer
Date: January 2, 2050

For ApexCorp

Signed by: Javier Jacobs
Title: Investment Director
Date: January 2, 2050

For inquiries or assistance, please contact [Your Name] via email at [Your Email], or reach out to [Your Company Name] at [Your Company Email].

Agreement Templates @ Template.net