A payment plan agreement outlines an installment plan to repay an outstanding balance over a specified time frame. Partial payments shall be made only one a month. c.THE SELLER AGREES AS FOLLOWS: (a) To sell and convey to the Purchaser the following described property: Land situated in the. of. A Michigan independent contractor agreement is a legal document that outlines the scope and terms of the relationship between a contractor and their client. Learn how documents such as pay applications, notices, contracts, lien waivers, mechanics liens, and more fit into Michigan's construction payment process. Check out all the forms you need in Michigan here! FAQs. Is Filling out a Michigan Real Estate Purchase Agreement Difficult? Loan Agreement in Michigan: Things to Watch Out for in Loan Agreements. How do I determine the payment schedule in the contract? Can I make changes to the project once the contract is signed?