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To reserve a parcel(s) for a Cash Transaction, please fill in the form below.
c/o Waterside Limited |
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Parcel Purchase Agreement - Cash Transaction THE PARTIES HEREIN, constituting Waterside Limited (?Seller?) of 50 North Front Street, Belize City, Belize and ↓Provide your information below (Please type your full name and information as you would like it to appear on the title) Name(s): (?Buyer(s)?) of
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hereby agree that Seller shall sell and Buyer shall buy the following described Real Property and upon the following terms and conditions hereof or as attached hereto and riders and addenda to this Parcel Purchase Agreement.
I. DESCRIPTION AND PURCHASE PRICE ←Select a parcel (a) Legal description of the Real Property located in WATERSIDE, LOT number stated above, FLOWERS BANK, BELIZE, C.A., or otherwise described as ALL THAT PIECE OR PARCEL of land situate at Flowers Bank, Belize District, Belize and numbered on the Plan by Kenneth Fairweather, Licensed Land Surveyor and to be recorded at the Office of the Commissioner of Lands and Survey in Belmopan. II. PAYMENTS: Buyer shall purchase the said and described property at purchase price stated above in US Dollars. Payment shall be made in full, without financing. Payments due by buyer before the time of closing are as follows:
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(a) NON REFUNDABLE Deposit held in escrow by - in the amount of US $500 (b) Annual maintenance assessment (US$396 per year prorated daily X number of days remaining in year) (c) Belize Stamp Tax (5% of purchase price that exceeds US$10,000) (d) Administrative filing fee (2% of purchase price) (e) Remainder of down payment (purchase price minus US$500) (f) Total balance due at closing in U.S. dollars (sum of (b ), + (c), + (d) and + (e)) (locally drawn certified or cashier's check or third-party loan), subject to adjustments and/or prorations III. TIME FOR ACCEPTANCE OF OFFER; EFFECTIVE DATE; FACSIMILE: This offer is first come, first serve. If this offer is not executed by and delivered to all parties, AND if the full amount of the deposit is not received by Seller on or before said parcel is under contract with another party, Buyer's deposit shall be returned in full and the offer will be deemed withdrawn. The date of Contract ("Effective Date"), for the purposes of this contract and any and all disclosures on any document provided to the Buyer will be the date when all of the following have occurred: (1) The Buyer and Seller have conveyed/delivered this executed agreement listing the date of each signature to the other. (2) Seller?s receipt of deposit moneys in the full amount listed in II(a), above. A facsimile copy or photocopy or scanned and emailed copy of this Contract and any signatures thereon shall be considered for all purposes as originals. Notwithstanding anything to the contrary, Seller reserves the right to withdraw this offer to any Buyer for any reason within 30 days of the Effective Date of this agreement by notification to Buyer in which case all deposits will be returned to Buyer. IV. FINANCING: None V. TITLE EVIDENCE: It is Buyer?s option to search title, procure title insurance, and to take other measures necessary to insure title. However, Buyer shall have no remedy against the Seller, resulting from Buyer?s failure to procure title evidence, insurance or other title assurance, or from Seller?s disclaimer of title search guarantee or obligations. Disclosures regarding title are available for review upon request to the Seller. Any defect in title discovered by the Buyer, or any other information which would prevent the Seller from transferring good and marketable title to the Buyer, shall be disclosed to the Seller within three (3) days of discovery, upon which time Seller shall have the option of canceling this agreement with subsequent full refund of all deposit moneys to the Buyer, making this agreement null and void without further force and effect, or, up until the closing date, curing any such defects. VI. CLOSING DATE: This transaction shall be closed on 30 days from the Effective Date, unless modified by other provisions of this Contract. Buyer is responsible for requesting and/or reviewing all documents, prior to closing. VII. RESTRICTIONS; EASEMENTS; LIMITATIONS: Buyer shall take title subject to: comprehensive land use plans, The Declaration of Covenants, Conditions, Restrictions, Easements and Building Guidelines for Waterside, (?DECLARATION?); zoning, restrictions, prohibitions and other requirements imposed by Belize governmental authority; restrictions and matters appearing on the plat or otherwise common to the subdivision; public utility easements of record; taxes for year of closing and subsequent years; and the Environmental Compliance Plan; provided, that there exists at closing no known violation of the foregoing and none prevent use of the Property for RESIDENTIAL purpose(s). VII. TYPEWRITTEN OR HANDWRITTEN PROVISIONS: All signed (or initialed, where appropriate) typewritten or handwritten provisions, riders and addenda shall control all printed provisions of this Contract in conflict with them. IX. RIDERS: None unless indicated as follows: None X. ASSIGNABILITY: This agreement is not assignable by the Buyer at any time. XI. INSPECTIONS, REPAIRS/REPAIR COSTS, AND MAINTENANCE: Seller shall not be responsible for any repairs on the property, including those related to water, land habitability, the natural environment, flooding, earth/soil quality, dredging, landscaping, excavation, or any other repairs, regardless of the cause of any condition in need of such repair. Buyer takes property ?as-is.? Seller shall in no way be responsible for any damage, to person or property, caused to Buyer or to any other individual or entity, by any condition on the property, or by any failure to make repair on the property. Seller makes no further warranties nor guarantees of repair beyond what has been disclosed. Seller shall make property reasonably available to Buyers to conduct their own inspections or surveys. Any defects known or knowable to the Buyer at closing shall be deemed as accepted by the Buyer upon closing. Waterside development is located adjacent to the Belize River. Although it is not designated as a flood plain by any Federal, State or local agency in the United States, Buyer is made aware of the possibility of flooding in any area which lies adjacent to a significant body of water. Seller shall not be liable in any way, and Buyer shall have no remedy against Seller for any water fluctuations, flooding, excessive rain, or other causes out of the control of the Seller. Seller?s actions or failure to act shall not be considered as a warranty or guarantee of any condition of the land, and shall not modify any term or condition in this subparagraph. XII. INSURANCE: You may be required to insure your home/property against loss or damage by fire, earthquake, hurricane, cyclone, tornado, windstorm, tidal wave and/or flood. The cost of such insurance varies, depending upon the value and nature of the improvements made and the insurance rating. XIII. NUISANCES: Seller makes no warranties as to any nuisances on the property. Buyer understands that raw, undeveloped land may be the subject property, and that such land may contain nuisances associated with stagnant ponds, other bodies of water, and the natural environment and habitat. As Waterside is an ongoing project, temporary nuisances related to construction and development may be present, and Buyer acknowledges, accepts and holds Seller harmless for same. XIV. PLACE OF CLOSING: Closing by mail shall be acceptable, however, it shall not alter any deadline, date, consequence or other provision of this agreement. Buyer is cautioned to observe all legal holidays, Sundays, etc., which may cause delays in mailing. If closing is performed by means other than mail, closing may only occur in Belize City, Belize, at the Law Offices of Pitts and Elrington, 50 North Front Street, Belize City, Belize, C.A. XV. SPECIAL ASSESSMENT LIENS AND MAINTENANCE FEES: Any special assessments which may have been certified, confirmed, voted upon or imposed as of date of closing (not as of Effective Date), but which are not due and payable until after closing, are to be paid by Buyer and will be disclosed in this agreement. Buyer, upon closing, shall be obligated to pay such maintenance fees in existence at the time of closing and as shall be amended or assessed from time to time in accordance with the Declaration. Buyer is required to provide the Seller and/or Seller?s attorneys, affiliates, or the Community Association, with a current billing address. Buyer?s failure to notify Seller and/or the Association of same shall not excuse Buyer?s obligations of payment, and Seller and/or the Community Association, as provided for in the Declaration, may consider the inability to contact the Buyer as nonpayment, affording to the Seller or the Association any and all remedies provided for in the Declaration. XVI. CLOSING PROCEDURE: The closing of the purchase of the lot shall take place within 30 days after the date on which the purchase agreement becomes effective. In the event of closing by mail, all documents required to be executed and payments to be made, must be received by Seller on or before that time. Buyer shall have no remedy at law or equity, nor have any right of rescission, due to any extension of this time period caused by the Buyer, whether intentionally or unintentionally. Seller may, upon written notice to the Buyer, thereafter terminate the contract and retain Buyer?s deposit, or extend the closing date, which option shall be exclusively Seller?s. XVII. DELIVERY OF DEED: Upon full payment of the entirety of the property, the Belize Government shall issue a Deed of Conveyance/Indenture, Transfer Certificate of Title or registered Land Certificate (the Belize equivalent of a deed) to Seller, who shall forward this document to the Buyer. Seller makes no warranties or assurances as to the force, effect, or protections afforded by this document, under American or Belize laws, and shall not be responsible for Buyer?s failure to ascertain same. If the property is financed, the Belize Government will record, but not release to any person, a Deed of Conveyance/Indenture, Transfer Certificate of Title or registered Land Certificate until such time as full payment is made. Seller makes no warranties as to the force, effect, or protections of a recorded, issued but unreleased Deed of Conveyance/Indenture, Transfer Certificate of Title or registered Land Certificate under Belize or American laws. Seller shall, regardless of full or financed payment, issue to Buyer, within 180 days after the purchase agreement is signed, documentary evidence that a purchase has taken place. XVIII. FOREIGN LAWS: Buyer is made aware that this transaction is governed by the laws of Belize, and that conflicts may exist between American and Belize laws. Buyer holds the Seller harmless for any Belize law which may alter any term of this contract, or which may adversely affect the Buyer in any way. XIX. CONDITIONS OF PROPERTY: Seller agrees to maintain the property in its current condition, normal wear and tear excepted, up until the date of closing. XX. ESCROW AGENT: The escrow agent shall be -. The escrow agent ("Agent") receiving funds is authorized and agrees by acceptance of them to deposit them promptly, hold deposits in escrow and, subject to clearance, disburse them in accordance with terms and conditions of this Contract. Failure of funds to clear shall not excuse Buyer's performance, but shall be deemed a breach of this agreement. If in doubt as to Agent's duties or liabilities under the provisions of this Contract, Agent may, at Agent's option, continue to hold the escrow until the parties hereto agree to its disbursement or until a final determination of the rights of the parties under the Laws of Belize is made by any court, tribunal, judge, jury, or arbitral body in Belize. Upon notifying all parties concerned of such action, all liability on the part of Agent shall fully terminate, except to the extent of accounting for any items previously delivered out of escrow. Agent shall recover reasonable attorney's fees and costs incurred with these amounts to be paid from and out of the escrowed funds or equivalent and charged and awarded as court costs in favor of the prevailing party. The Agent shall not be liable to any party or person for misdelivery to Buyer or Seller of items subject to the escrow, unless such misdelivery is due to willful breach of the provisions of this Contract or gross negligence of Agent. XXI. ATTORNEY'S FEES; COSTS: In any litigation, including breach, enforcement or interpretation, arising out of this Contract, Mortgage agreement, or any other addendums, attachments, or documents referenced and incorporated herein, the prevailing party in such litigation, which, for purposes of this Standard, shall include Seller, Buyer, escrow agent, or any associates, assigns, beneficiaries and subsidiaries, shall be entitled to recover from the non-prevailing party reasonable attorney's fees, costs and expenses. XXII: FAILURE OF PERFORMANCE: If Buyer fails to perform this Contract or is in breach or violation of any provision within this contract, Mortgage agreement, or any other addendums, attachments, or documents referenced and incorporated herein, the Seller may retain all deposits as agreed upon liquidated damages, as well as any consequential or additional damages incurred by Seller; If for any reason other than where this contract would otherwise allow the Seller to cancel without penalty, Seller fails, neglects or refuses to perform this Contract, the Buyer may elect to receive the return of Buyer's deposit(s). However, Buyer shall not be entitled to any form of specific performance, or any other consequential, punitive, attorney?s fees, or other measure of damages whatsoever, other than return of deposit moneys. XXIII. WAIVER AND GRANTED EXCEPTIONS: Seller?s waiver of any provision of this contract, or any permissions given to or exceptions afforded to the Buyer, by the Seller shall be interpreted as being gratuitous in nature, and shall not waive the Seller?s right to damages or to any other remedy afforded in this contract. XXIV. PERSONS BOUND; NOTICE: This Contract shall bind and inure to the benefit of the parties and their successors in interest, beneficiaries, assigns, subsidiaries, affiliates, independent contractors and/or employees. Whenever the context permits, singular shall include plural and one gender shall include all. Notice given by or to the attorney for any party shall be as effective as if given by or to that party. XXV. OTHER AGREEMENTS AND MODIFICATIONS: No prior or present agreements or representations shall be binding upon Buyer or Seller unless included in this Contract, including any representations made in any oral statements, sales brochures, websites, sales materials. No modification to, or change in, this Contract shall be valid or binding upon the parties unless in writing and executed by the party or parties intended to be bound by it. This agreement and incorporated and attached documents and addendums constitutes the complete and full understanding of the parties. XXVI. HEADERS: The titles and headings on all paragraphs herein, are for ease and reference, and shall not be used in the interpretation of any of the terms of this agreement. XXVII. PROPERTY INFORMATION: Buyer hereby acknowledges having read the Seller?s Website including the Frequently Asked Questions section ? http://www.watersidebelize.com/faq.htm. XXVIII. LAWS OF BELIZE: This agreement, and all contracts and attached documents, shall be governed according to the laws of Belize, in a Court located in Belize. Jurisdiction and Forum shall only be in a competent court of Belize, according to the laws of Belize. You should contact Belize counsel for further information as to how the laws of Belize may affect you. Your signature on this document constitutes your consent to bring any and all actions, claims, disputes, trials and/or lawsuits, in a court of Belize. XXIX. MANDATORY PRESUIT MEDIATION: The parties agree that mediation shall be a condition precedent to the institution of any action in any court or tribunal. Buyer consents that the proper forum for mediation shall be in a counties of Palm Beach, Broward or Miami-Dade Counties in the State of Florida. However, the Buyer agrees and consents that despite that mediation must be held in this forum, that this section in no way alters, changes or amends Section XXVIII above, nor changes any other choice of forum or venue provision which may appear in any document or agreement. XXX. WARRANTY AND DISCLOSURES: Seller warrants that there are no facts known to Seller materially affecting the value of the Property which are not readily observable by Buyer or which have not been disclosed to Buyer. Upon signature of this agreement by the Buyer, the Buyer is conclusively presumed to be on notice of all information and disclosures made in the Seller?s website, any and all attachments to such disclosures, and the Declaration, all of which are available from the Seller for review. Seller shall have no liability whatsoever for any information not reviewed by, or reviewed insufficiently or untimely by the Buyer. THIS IS INTENDED TO BE A LEGALLY BINDING CONTRACT. YOU SHOULD SEEK THE ADVICE OF AN ATTORNEY OR OTHER QUALIFIED PROFESSIONALS PRIOR TO SIGNING. You have the option to cancel your contract or agreement by notice to the seller until midnight of the seventh day following the date of signing of the contract agreement.
SELLER:_____________________________________________________________________ . Name/Position Date (For and on Behalf of Waterside Limited of 50 North Front Street, Belize City, Belize)
←Sign & Date Here BUYER:______________________________________________________________________ Name Date
BUYER:______________________________________________________________________ Name Date |