Cook Illinois Sample Purchase and Sale Agreement between Barker Pacific Group, Inc. and Cranberry Properties MM Corporation

• Category: Corporations - Public - Purchase
• State: Multi-State
• County: Cook
• Control #: US-EG-9175
• Format: Word; Rich Text

Description

Assignment of Purchaes and Sale Agreement between Barker Pacific Group, Inc. and Cranberry Properties MM Corporation dated November, 1999. 5 pages Cook Illinois Sample Purchase and Sale Agreement between Barker Pacific Group, Inc. and Cranberry Properties MM Corporation This Cook Illinois Sample Purchase and Sale Agreement is a legally binding contract between Barker Pacific Group, Inc., referred to as the "Seller," and Cranberry Properties MM Corporation, referred to as the "Buyer." This agreement outlines the terms and conditions for the purchase and sale of a property located within Cook County, Illinois. Key elements covered in this agreement include: 1. Identification of Parties: The agreement clearly identifies the Seller (Barker Pacific Group, Inc.) and the Buyer (Cranberry Properties MM Corporation), including their respective legal names, addresses, and contact information. 2. Property Description: A comprehensive description of the property being sold is provided. This includes the address, legal description, parcel identification number, and any other relevant details necessary for accurate identification. 3. Purchase Price and Deposits: The agreed-upon purchase price for the property is stated, along with any required deposits. It outlines the payment method and schedule, detailing the amounts to be paid at each specified stage of the transaction. 4. Closing and Possession: This section specifies the closing date, by which the transfer of ownership will occur. It also outlines the timeframe for the Buyer to take possession of the property and any holding costs associated with delays caused by the Seller. 5. Representations and Warranties: Both parties make certain representations and warranties regarding their legal authority, title, and the condition of the property. These representations ensure that the Buyer is acquiring a property free from any undisclosed liabilities or encumbrances. 6. Title and Closing: The necessary actions to be taken for successful closing and transfer of title are outlined. This includes title examination, obtaining title insurance, and the provision of necessary documents to complete the transaction. 7. Inspection and Due Diligence: The agreement discusses the right of the Buyer to conduct inspections, surveys, or other due diligence activities before the closing date. This ensures that the Buyer has the opportunity to ascertain the condition and suitability of the property. 8. Default and Remedies: The obligations and consequences in the event of a default by either party are addressed. It specifies the remedies available to the non-defaulting party, such as specific performance, termination of the agreement, or seeking damages. 9. Governing Law and Dispute Resolution: The agreement identifies the governing jurisdiction and the preferred method of resolving any disputes that may arise during the transaction process. Typically, arbitration or mediation is chosen as an alternative to litigation. Different types of Cook Illinois Sample Purchase and Sale Agreements between Barker Pacific Group, Inc. and Cranberry Properties MM Corporation may include variations based on factors such as the type of property being sold (residential, commercial, industrial), specific clauses relating to zoning, environmental contingencies, or unique provisions added to meet the needs of a particular transaction.

Cook Illinois Sample Purchase and Sale Agreement between Barker Pacific Group, Inc. and Cranberry Properties MM Corporation This Cook Illinois Sample Purchase and Sale Agreement is a legally binding contract between Barker Pacific Group, Inc., referred to as the "Seller," and Cranberry Properties MM Corporation, referred to as the "Buyer." This agreement outlines the terms and conditions for the purchase and sale of a property located within Cook County, Illinois. Key elements covered in this agreement include: 1. Identification of Parties: The agreement clearly identifies the Seller (Barker Pacific Group, Inc.) and the Buyer (Cranberry Properties MM Corporation), including their respective legal names, addresses, and contact information. 2. Property Description: A comprehensive description of the property being sold is provided. This includes the address, legal description, parcel identification number, and any other relevant details necessary for accurate identification. 3. Purchase Price and Deposits: The agreed-upon purchase price for the property is stated, along with any required deposits. It outlines the payment method and schedule, detailing the amounts to be paid at each specified stage of the transaction. 4. Closing and Possession: This section specifies the closing date, by which the transfer of ownership will occur. It also outlines the timeframe for the Buyer to take possession of the property and any holding costs associated with delays caused by the Seller. 5. Representations and Warranties: Both parties make certain representations and warranties regarding their legal authority, title, and the condition of the property. These representations ensure that the Buyer is acquiring a property free from any undisclosed liabilities or encumbrances. 6. Title and Closing: The necessary actions to be taken for successful closing and transfer of title are outlined. This includes title examination, obtaining title insurance, and the provision of necessary documents to complete the transaction. 7. Inspection and Due Diligence: The agreement discusses the right of the Buyer to conduct inspections, surveys, or other due diligence activities before the closing date. This ensures that the Buyer has the opportunity to ascertain the condition and suitability of the property. 8. Default and Remedies: The obligations and consequences in the event of a default by either party are addressed. It specifies the remedies available to the non-defaulting party, such as specific performance, termination of the agreement, or seeking damages. 9. Governing Law and Dispute Resolution: The agreement identifies the governing jurisdiction and the preferred method of resolving any disputes that may arise during the transaction process. Typically, arbitration or mediation is chosen as an alternative to litigation. Different types of Cook Illinois Sample Purchase and Sale Agreements between Barker Pacific Group, Inc. and Cranberry Properties MM Corporation may include variations based on factors such as the type of property being sold (residential, commercial, industrial), specific clauses relating to zoning, environmental contingencies, or unique provisions added to meet the needs of a particular transaction.