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I/We
..................................................................................................................
herein place a $ 1,000.00 deposit with Future Homes & Real Estate Ltd.
Brokerage to be held in trust and to be credited towards the subsequent
purchase of a townhome unit to be built on
............................................................... ,
Leamington, Ontario at prices held as of May 01, 2006 noted as Schedule
"C". This hold is guaranteed for ninety (90) days from the signing of
this contract. The signing of this Reservation & Hold and conditional
upon the sale of the Buyer's property known
as.....................................................................................................
The deposit herein of $1,000.00 is refundable without deduction should
the Buyer(s) not be able to sell said property. This Reservation & Hold
does not constitute a Purchase & Sale Agreement and can be terminated by
Future Homes & Real Estate Ltd. Brokerage should a firm offer be
obtained on the same property within ninety (90) days of signing.
Upon the obtaining of an offer on the subject property named herein, the
Buyer(s) shall have three (3) Banking days to submit a firm offer,
failing which this deposit shall be returned in full to the Buyer(s)
without deduction or charge. Upon the sale of said property, the Buyer(s)
shall pay a further deposit, in the amount of five thousand dollars
($5,000.00) direct to the Seller and not to be held in trust pending
completion or other termination of the Agreement and to be credited
toward the purchase price on completion. The Buyer acknowledges that the
Broker of Record, in his capacity as Buyer's Representative and/or as
Dual Agent whichever applies, and has fully explained the difference
between moneys held in trust by the Brokerage and moneys held by the
Seller not in trust. |
