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• E. Buyer wishes to purchase the Property from Seller, <br />and Seller wishes to sell the Property to Buyer, on and subject to <br />the terms and conditions set forth in this Agreement. <br />AGREEMENT <br />In consideration of the promises and agreements of the <br />parties set forth herein, the sufficiency of which is hereby <br />acknowledged by each of the parties hereto, Seller and Buyer do <br />hereby promise and agree as follows: <br />1. Sale and Purchase. Seller shall sell the Property <br />to Buyer, and Buyer shall purchase the Property from Seller, on and <br />subject to the terms and conditions set forth in this Agreement. <br />2. Purchase Price. The purchase price for the Prorc-*.. <br />(the "Purchase Price") shall be <br />AND NO/100 DOLLARS ( ). The Purcnase rrice shall be <br />payable as follows: <br />(A) Earnest Money Deposit. Concurrently with the <br />execution of this Agreement by Buyer and Seller, Buyer <br />shall deposit AND NOf100 DOLLARS <br />( ) into escrow with Transamerica Title <br />Insurance Company (the "Escrow Agent"). The Escrow Agent <br />shall hold and disburse such funds (referred to herein, <br />together with any interest or other income earned <br />thereon, as the "Deposit") in accordance with the terms <br />of this Agreement and pursuant to an Escrow Agreement <br />among Seller, Buyer, and the Escrow Agent in the form of <br />Exhibit D attached hereto and by this reference made part <br />hereof. At the Closing (as hereinafter defined), the <br />Deposit shall be paid to Seller and credited against the <br />Purchase Price. In the event that Closing fails to occur <br />as a result of a breach of this Agreement by Seller, the <br />Deposit shall be returned to Buyer. In the event that <br />Closing fails to occur as a result of a breach of this <br />Agreement by Buyer, the Deposit shall be forwarded to <br />Seller. <br />(B) Closino Payment. AND NO/100 <br />DOLLARS ( ), as adjusted for the net of all <br />credits and prorations provided for herein (the "Closing <br />Payment°), shall be paid by Buyer to Seller at the <br />Closing in immediately available funds by wire transfer <br />to the account designated by Seller. <br />(C) Note and Deed of Trust. The balance of the <br />Purchase Price, in the amount of <br />AND NO/100 DOLLARS ( ) shall be paid <br />. by Buyer to Seller in the form of a Promissory Note (the <br />"Note") to be executed by Buyer and delivered to Seller <br />at the Closing. The Note shall bear no interest, except <br />-2- <br />