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...Y.,,,,~..~.~~.rti ~,~,,.,~j„~, H011~~~'SITE PURGHASE AGREEMEN'T
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Pursuant to the requirements of the State of Michigan Land Sales
Act (Public Act 286). and notwithetanding other proviaiona con-
. tained in thie Homesite Purchase Agreementcontract to the contrary~ _
the following provisions ehall constitute an integral part of said
contract and are hereby made a part thereof, to wit: ~
NOTICE TO PURCHASER
1. 'YOU ARE ENTI'I~ED TO CANCEL ~THIS AGR.EE-
MENT AT ANY TIME IF YOU HAVE NOT RE-
CEIVED ~HE PROPERTY REPORT IN ADVANCE
OF YOUR SIGNING OF THIS AGREEMENT. IN
ADDITION, YOU ARE ENTITLED TO CANCEL
THIS AGREEMENT FOR ANY REA~ON WITH-
IN 5 DAYS FROM THE DAY YOU ACTUALLY RE- -
CEIVE A LEGIBLE COPY OF THIS DOCUMENT.
2. YOUR SIGNATURE(S) TO THIS RIDER ATTESTS THAT PRIOR
TO 5IGNING THE HOMESITE PURCHASE AC3~REEMENT. YOU
RECEIVED A COPY OF THE PROPERTY REPORT REFERRED
TO IN THE PRECEDING PARAGRAPH.
3. PREPAYMENT DOES NOT ACC~LERATE THE COMPANY'S
OBLIGATION TO CQMPLETE THE IMPROVEMENTS ADJA-
CENT TO YOUR PROPERTY BEFORE THE END OF THE HOME-
SITE DEVELOPMENT YEAR. HOWEVER. IF PREPAYMENT
IN WHOLE IS MADE. THE COMPANY WILL. IF SO REqUESTED
BY PtTRCHASER. DELIVER THE WARRANTY DEED TO THE
UNIMPROVED PROPERTY AND A TITLE INSURANCE ~OLICY.
4. IF WE TERMINATE THIS AGREEMENT. WE WILL RETAIN
ALL 1V~ONIES YOU HAVE PAID UNDER THIS A(~REEMENT,
INCLUDING PRINCIPAL AND INTEREST. AS LIG~UIDATED
DAMA(~ES BECAUSE WE HAVE TAKEN THIS PROPERTY OFF
, THE REAL ES'rATE MARKET, WE HAVE TURNED AWAY OTHER
PROSPECTNE PURCHAS~RS AND WE HAVE INCURRED OR
i WILL BE INCURRING SELLING, ADMINISTRATIVE AND DE- -
i VELOPMENT EXPENSES IN CONNECTION WITH THIS PROP-
i ERTY. - UPON TERMINATION. ANY AND ALL RIGHTS YOU
! MAY HAVE HAD IN THIS PROPERTY SHALL IMMEDIATELY
; TERMINATE AND VPE MAY RETURN THIS PROPERTY .TO
t OUR INVENTORY AND RESELL IT FREE AND CLEAR OF ANY
E CLAIMS. LIENS OR ENCUMBRANCES ARISING OUT OF THIS
~ AGREEMENT.
~ IF THIS AGREEMENT IS TERMINATED, OUR . RECORDED
~ AFFIDAVIT ATTESTING TO YOUR DEFAULT AND THE TER-
~ MINATION, SHALL BE CONCLUSIVE PROOF OF SUCH DE-
~ FAULT AND TERMINATION FOR ALL PURPOS~S, AND YOU
IRREVOCABLY AUTHORIZE US Zw0 THU3 ATTEST AND RECORD
~ SUCH AFFIDAVIT AS THOUGH IT WERE YOUR OWN ACT
~ AND DEED.
~ I(WE) ACKNOWLEDGE READING THE ABOVF PARAGRAPHS
~
NUMBERED 1 THROUGH 4. • '
~
j GENS D VELOPMENT CO~PORATIOAi• - Accepted and Approved:
~s. ~-~i ~r ` ~ - - ~ $1~
- ~ ~ ~Purchaaer
~ BY r - - - - - - - - - ~Seal) ~ ~ -(Seal) i
~ Agent ~ haser
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