Residential Contract Paralegal Contract Essay

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This form was prepared by Espinoza and Associates LLP located at -30 Steinway Street in Astoria, New York 11103Warning: No representation is made that this form of contract for the sale and purchase of real estate complies with Section 5-702 of the General Obligations Law (“Plain Language Law”).CONSULT YOUR LAWYER BEFORE SIGNING THIS AGREEMENT NOTE: FIRE AND CASUALTY LOSSES AND CONDEMNATIONThis contract form does not provide for what happens in the event of fire, or other casualty loss or condemnation before the title closing. Unless different provision is made in this contract, Section 5-1311 of the General Obligations Law will apply. One part of that law makes a Purchaser responsible for fire and casualty loss upon taking possession of the Premises before the title closing.Residential Contract of SaleContract of Sale made as of ___16TH APRIL, 2024____between________2708 HEALY LLC__________________________Address:___________2729 HEALY AVENUE FAR ROCKAWAY, NEW YORK 11691 - Social Security Number/ Fed. I.D. No(s): ______N/A_______________ hereinafter called “Seller”and ____ROGER RABBIT AND JESSICA RABBIT ______________________Address: _300 JAY STREET, BROOKLYN, NEW YORK 11201____________Social Security Number/ Fed. I.D. No(s): _____________________ hereinafter called“Purchaser”.The parties hereby agree as follows:1. Premises. Seller shall sell and convey and Purchaser shall purchase the property, together with all buildings and improvements thereon (collectively the “Premises”), more fully described on a separate page marked “Schedule A”, annexed hereto and made a part hereof and also known as: ____DWELLING ONLY – 1 FAMILY RESIDENTIAL UNIT_______________ Street Address: ______2708 HEALY AVENUE, QUEENS, NEW YORK 15722________. Tax Map Designation: ____QUEENS BOROUGH, LOT 37, CRFN 2024000084522_______.Together with Seller’s ownership and rights, if any, to land lying in the bed of any street or highway, opened or proposed, adjoining the Premises to the center line thereof, including any right of Seller to any unpaid award by reason of any taking by condemnation and/or for any damage to the Premises by reason of change of grade of any street or highway. Seller shall deliver at no additional cost to Purchaser, at Closing (as hereinafter defined), or thereafter, on demand, any documents that Purchaser mayreasonably require for the conveyance of such title and the assignment and collection of such award or damages.2. Personal Property. This sale also includes all fixtures and articles of personal property now attached or appurtenant to the Premises, unless specifically excluded below. Seller represents and warrants that at Closing they will he paid for and owned by Seller, free and clear of all liens and encumbrances, except any existing mortgage to which this sale may be subject. They include, but are not limited to, plumbing, heating, lighting and cooking fixtures, bathroom and kitchen cabinets and counters, mantels, door mirrors, switch plates and door hardware, venetian blinds, window treatments, shades, screens, awnings, storm windows, storm doors, window boxes, mail box, TV aerials, weather vane, flagpole, pumps, shrubbery, fencing, outdoor statuary, tool shed, dishwasher, washing machine, clothes dryer, garbage disposal unit, range, oven, built-in microwave oven, refrigerator, freezer, air conditioning equipment and installations, wall to wall carpeting and built-ins not excluded below.Excluded from this sale are dining room chandelier and master bedroom light fixture.3. Purchase Price. The purchase price is ($___850,000__), payable as follows:(a) on the signing of this contract, by Purchaser’s good check payable to the Escrowee (as hereinafter defined), subject to collection, the receipt of which is hereby acknowledged, to be held in escrow pursuant to paragraph 6 of this contract (the“Down payment”): $__170,000____.

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(b) by a mortgage, of which Purchaser shall assume by joinder in the deed:$__680,000_.- 2 -6. Down payment in Escrow. (a) Seller’s attorney (“Escrowee”) shall hold the Down payment in escrow in a segregated bank account at_______J.P. MORGAN CHASE BANK____, address: _______500…

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…assigns of the respective parties. The parties hereby authorize their respective attorneys to agree in writing to any changes in dates and time periods provided for in this contract.(c) Any singular word or term herein shall also be read as in the plural and the neuter shall include the masculine and feminine gender, whenever the sense of this contract may require it.(d) The captions in this contract are for convenience of reference only and in no way define, limit or describe the scope of this contract and shall not be considered in the interpretation of this contract or any provision hereof.-14-(e) This contract shall not be binding or effective until duly executed and delivered by Seller and Purchaser.(f) Seller and Purchaser shall comply with IRC reporting requirements, if applicable. This subparagraph shall survive Closing.(g) Each party shall, at any time and from time to time, execute, acknowledge where appropriate and deliver such further instruments and documents and take such other action as may be reasonably requested by the other in order to carry out the intent and purpose of this contract. This subparagraph shall survive Closing.(h) This contract is intended for the exclusive benefit of the parties hereto and, except as otherwise expressly provided herein, shall not be for the benefit of, and shall not create any rights in, or be enforceable by, any other person or entity.(i) If applicable, the complete and fully executed disclosure of information on lead-based paint and/or lead-based paint hazards is attached hereto and made a part hereof.IN WITNESS WHEREOF, this contract has been duly executed by the parties hereto.__________________________________________________________SellerPurchaser__________________________________________________________SellerPurchaserAttorney for Seller:Attorney for Purchaser:____________________________________________________________Address: _____________________Address: _________________________________________________________________________________________________________________________________________Tel.: ________________________Tel.: ________________________Fax: _________________________Fax: _________________________-15-Receipt of the Downpayment is acknowledged and the undersigned agrees to act in accordance with the provisions of paragraph 6 above._____________________________EscroweePREMISES:Section: __________Block: __________Lot: __________County or Town: __________Street….....

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