Sale And Purchase Contract

PARTIES: ______________________________, as "Seller", of _________________, Phone: ___________, and _____________________________ as "Buyer" of _________________________, Phone: ______________, hereby agree that the Seller shall sell and Buyer shall buy the following property upon the following terms and conditions:

I. DESCRIPTION:

a) Legal description of real estate ("Property") located in _____________ County, ______________:

b) Street address, if any, of the Property being conveyed is:

c) Personal property including all buildings and improvements on the property and all right, title and interest of Seller in and to adjacent streets, roads, alleys and rights-of-way, and:

II. PURCHASE PRICE $___________
PAYMENT:

a) Cash Deposit(s) to be held in escrow by _______________________ in the amount of $__________ and promissory note to be held in same escrow as additional earnest Buyer's default in the amount of $__________

b) Assumption of Mortgage in favor of ________________________ bearing interest at ______% per annum and payable as to principal and interest $_________ per month, having an approximate present principal balance of $_________

c) Purchase money mortgage and note bearing interest at _____% on terms set forth herein below, in the principal amount of $__________

d) Other: $_________

e) Balance to close, (U.S. Cash, certified or cashier's check) subject to adjustments and prorations $__________

TOTAL $__________

III. SURVEY & TITLE COMMITMENT; PERMITTED EXCEPTIONS.

a) Preliminary Title Report. Within twenty (20) days from the date hereof, Seller, at Purchaser's sole cost and expense, shall cause a title insurance company ("Title Company") to issue and deliver to Purchaser an ALTA Form B title commitment ("Title Commitment") in the full amount of the Purchase Price of the real estate. Purchaser shall pay the premium for the policy at or before the closing as set forth herein. In the event title is found to be unmerchantable because of title defects, Purchaser or his attorney shall notify the Seller or its attorney in writing within five (5) days of the date of receipt of said Title et forth herein. In the event title is found to be unmerchantable title to the property and Seller shall have a period of one hundred twenty (120) days after receipt of such written notice within which to cure said defects in title and this sale shall be closed within ten (10) days after written notice of such curing Upon Seller's failure to cure defects of which written notice has Upon Seller's failure to cure defects of which written notice has been given, within the time limit aforesaid, the deposit this day paid shall be returned and all rights and liabilities arising hereunder shall terminate, or Purchaser may close this transaction in the same manner as if no title defects had been found.

b) Survey. If the Purchaser desires a survey of the Property, it may have the Property surveyed at its expense prior to the closing date. If the survey shows encroachments on the Property herein described, or that the improvements located on the Property herein described encroach on other lands, written notice of that effect shall be given to the Seller and Seller shall have the same time to remove such encroachments as is allowed under this Agreement for the curing of defects of title (see Section III a) herein). If the Seller shall fail to remove or cure said encroachments within the period of time, then the deposit this day paid shall be returned to Purchaser and all rights and liabilities arising hereunder shall terminate, or Purchaser may close this transaction in the same manner as if no defects had been found.

IV. PROVISIONS WITH RESPECT TO CLOSING.

a) Closing Date. The consummation of the transaction contemplated by this Agreement ("Closing") shall take place at such place as designated by Seller on or before __________, or at such earlier date as agreed mutually, unless extended by other provisions hereof.

b) Seller's Obligation at Closing. At Closing, Seller shall do the following:

Execute, acknowledge, and deliver to Purchaser a Warranty Deed conveying the Property to Purchaser subject to:

(i) taxes and assessments for year of closing and subsequent years;

(ii) restrictions, easements and zoning ordinances of record, if any;

(iii)public utility easements of record, if any;

(iv) Mortgage to be assumed as described above; Any variance in the amount of said mortgage from the amount stated herein shall be added to or deducted from either the cash payment or the second mortgage as the Seller may elect.

(v) Other:

c) Purchaser's Obligations at Closing. Subject to the terms, conditions and provisions hereof, and concurrently with the performance by Seller of its obligations set forth in Section IV b) above, Purchaser shall deliver to Seller cashier's check or other immediate local funds in the amount set forth in Section II of this Agreement.

d) Closing Costs.

Seller shall pay the following costs and expenses in connection with the Closing:

(i) Documentary stamps which are required to be affixed to the Warranty Deed;

Purchaser shall pay the following costs and expenses in connection with the closing:

(i) The intangible tax required by law on the mortgage.

(ii) All recording costs, including recording of the deed, mortgage, and any documents required in connection with the title insurance commitment.

(iii) The premium payable for the title commitment and title policy issued pursuant thereto.

(iv) Survey work.

e) Proration of Taxes. Taxes for the year of the Closing shall be prorated to the date of Closing. If the Closing shall occur before the tax rate is fixed for the then current year, the apportionment of taxes shall be upon the basis of the tax rate of the preceding year applied to the latest assessed valuation.

V. PROVISIONS WITH RESPECT TO DEFAULT.

a) Default by Purchaser. If Purchaser fails to perform this Agreement, the deposit this day paid by Purchaser as aforesaid shall be retained by or for the account of Seller as consideration for the execution of this Agreement. In such event the parties agree that said sum shall constitute liquidated damages since both Purchaser and Seller agree that actual damages for default or breach of contract could not readily be ascertained at the date of execution of this Agreement.

b) Default by Seller. If Seller fails to perform this Agreement, the aforesaid deposit shall be returned to Purchaser and this shall be the sole remedy of Purchaser under this Agreement.

VI. OTHER CONTRACTUAL PROVISIONS.

a) Notices. Any notice to be given or to be served upon any party hereto, in connection with this Agreement, must be in writing, and may be given by certified mail and shall be deemed to have been given and received when a certified letter containing such notice, properly addressed, with postage prepaid, is deposited in the United States Mail; and if given otherwise than by certified mail, it shall be deemed to have been given when delivered to and received by the party to whom it is addressed. Such notices shall be given to the parties hereto at the addresses stated above.

Any party hereto may, at any time by giving five (5) days' written notice to the other party hereto, designate any other address in substitution of the foregoing address to which such
notice shall be given and other parties to whom copies of all notices hereunder shall be sent.

b) Assignability. The Purchaser is prohibited from assigning all or any part of this Agreement.

c) Entire Agreement; Modification. This Agreement embodies and constitutes the entire understanding between the parties with respect to the transaction contemplated herein. All prior or contemporaneous agreements, understandings, representations, and statements, oral or written, are merged into this Agreement. Neither this Agreement nor any provision hereof may be waived, modified, amended, discharged, or terminated except by an instrument in writing signed by the party against which the enforcement of such waiver, modification, amendment, discharge or termination is sought, and then only to the extent set forth in such instrument.

d) Applicable Law. This Agreement shall be governed by, and construed in accordance with, the laws of the State of _____________.

e) Headings. Descriptive headings are for convenience and shall not control or affect the meaning or construction of any provision of this Agreement.

f) Binding Effect. This Agreement shall be binding upon and shall inure to the benefit of the parties hereto and their successors and assigns.

g) Counterparts. This Agreement may be executed in several counterparts, each constituting a duplicate original, but all such counterparts constituting one and the same Agreement.

h) Interpretation. Whenever the context hereof shall require, the singular shall include the plural, the male gender shall include the female gender and the neuter, and vice versa.

i) Severability. In case any one or more of the provisions contained in this Agreement shall for any reason be held to be invalid, illegal or unenforceable in any respect, such invalidity,
illegality or unenforceability shall not affect any other provision hereof, and this Agreement shall be construed as if such invalid, illegal or unenforceable provision had never been contained herein.

j) Section 1031 Exchange. Upon request by Seller, Purchaser shall cooperate with Seller in order to effectuate the goal of Seller to have this transaction qualify for a tax deferred treatment under Section 1031 of the Internal Revenue Code of 1986, as amended, provided that Purchaser is put to no additional expense, in this regard, and that the closing is not materially delayed. Formal provisions detailing the exchange shall be entered into by the parties and made a part of the final contract of exchange, no later than as such time as Purchaser shall acknowledge satisfaction of the contingencies to its obligation to close this transaction.

k) Time for Acceptance & Effective Date. If this offer is not executed by both parties hereto on or before __________, the aforementioned deposits shall be returned to Purchaser, and this offer shall thereafter be null and void. The date of the Agreement ("Effective Date") shall be the date when the last one of the Seller and Purchaser has signed this offer.

IN WITNESS WHEREOF, the parties hereto have executed this Agreement.

Witnesses:

"Purchaser"

________________ _____________________

________________ Date: __________________

________________ ______________________

________________ Date: __________________

"Seller"

_______________ ___________________

_______________ Date: ________________

_______________ ____________________

_______________ Date: _______________

"Escrow Agent"

________________ ___________________

_______________ Date: ________________

NOTICE

The information in this document is designed to provide an outline that you can follow
when formulating business or personal plans. Due to the variances of many local, city, county
and state laws, we recommend that you seek professional legal counseling before entering into
any contract or agreement(s)

Mutual Recision Of Contract

This Agreement of mutual rescission of a contract made and entered into this __ day of ____________, 20____, by and between _______________, of ____________________, and _______________, of ____________________.

The parties recite and declare that:

A. On ________________, 20___, the parties entered into a contract, which contract is attached hereto and marked Exhibit A.

B. The parties to that contract and to this agreement of mutual rescission desire to rescind that contract.

For the reasons set forth above, and in consideration of the mutual covenants of the parties hereto, the parties agree as follows:

The above-mentioned contract is hereby rescinded as of this day first above written, and neither party shall have any further rights or duties thereunder.

_______________ _________________

___________________
Witnesses

_______________ _________________

___________________
Witnesses

NOTICE

The information in this document is designed to provide an outline that you can follow
when formulating business or personal plans. Due to the variances of many local, city, county
and state laws, we recommend that you seek professional legal counseling before entering into
any contract or agreement.

Extension Of Lease Agreement

This Agreement is made and entered in this __ day of ______________, 20__, between __________________, of _______________________, hereinafter referred to as "Landlord" and _____________, of ___________________, hereinafter referred to as "Tenant" regarding the premises of Landlord generally located at ______________ and leased to Tenant under a lease dated ___________, the term of which is to expire _____________.

Now, therefore, it is agreed as follows:

1. The above-described lease is hereby renewed for a term of ________ beginning ________________ and ending ____________________.

2. All terms, provisions and covenants of the above-described lease shall remain in full force for the duration of the extended term, except as noted.

3. In connection with this renewal, the rent, payable monthly, shall be $_____ per month.

IN WITNESS WHEREOF, the parties hereto have executed this Agreement on the date first above written.

__________________________

__________________________

NOTICE

The information in this document is designed to provide an outline that you can follow
when formulating business or personal plans. Due to the variances of many local, city, county
and state laws, we recommend that you seek professional legal counseling before entering into
any contract or agreement.

Assignments Of Rents By Lessor With Repurchase Agreement

1. For value received, ____________, of _______________, assignor, assigns and transfers to _________________, of __________________, assignee, all rents and other sums due and to become due assignor under that lease dated ________________, 20___, between assignor as lessor, and ____________, as lessee, for the lease of the following described property: _____________________.

2. Assignor warrants and represents that:

a. Assignor is the lawful owner of the above- described lease and of the rental property that is the subject thereof and of all rights and interests therein;

b. The lease is genuine, valid, and enforceable;

c. Assignor has a right to make this assignment;

d. The rental property and rental payments and other sums are free from liens, encumbrances, claims and set offs of every kind whatsoever except as follows: __________________; and

e. The balance of rental payments unpaid as of the date of this assignment is ____________ Dollars ($_________), commencing with the next payment due on ________________, 20___.

3. Assignor understands and agrees that:

a. Assignee does not assume any of the obligations arising under the lease;

b. Assignor will keep and perform all of his obligations as lessor under the lease, and shall indemnify assignee against the consequences of any failure to do so;

c. Assignor will not assign any other interest in the lease, nor sell, transfer, mortgage, or encumber the property described in the lease, or any part thereof, without first obtaining the written consent of assignee;

d. Assignee may, at his discretion, give grace or indulgence in the collection of all rent and other sums due or to become due under the lease, and grant extensions of time for the payment of any such sums;

e. Assignor waives the right to require assignee to proceed against lessee, or to pursue any other remedy;

f. Assignor waives the right, if any, to obtain the benefit of or to direct the application of any security that is or may be deposited with assignee until all indebtedness of lessee to assignee arising under the lease has been paid; and

g. Assignee may proceed against assignor directly or independently of lessee, and the cessation of the liability of lessee for any reason other than full payment shall not in any way
affect the liability of assignor hereunder, nor shall any extension, forbearance of acceptance, release, or substitution of security, or any impairment or suspension of assignee's remedies or
rights against lessee in any way affect the liability of assignor hereunder.

4. Assignor guarantees due and punctual payment under the terms of the lease, and on any default by lessee, assignor will, on demand, repurchase the rights assigned hereunder by paying to assignee the then total unpaid balance of rental payments under the lease.

5. Assignor appoints assignee as his attorney in fact to demand, receive, and enforce payment and to give receipts, releases, and satisfactions and to sue for all sums payable, either in the name of assignor or in the name of assignee, with the same force and effect as assignor could have done if this assignment had not been made.

6. Notice of this assignment may be given at any time at assignee's option. In the event any payment under the lease hereby assigned is made to assignor, assignor will promptly transmit such payment to assignee.

7. This assignment is irrevocable and shall remain in full force and effect until and unless there is payment in full of any obligation, the payment of which is secured by it, or until and unless such obligation is released in writing by assignee.

Dated __________________, 20___.

_______________________

NOTICE

The information in this document is designed to provide an outline that you can follow
when formulating business or personal plans. Due to the variances of many local, city, county
and state laws, we recommend that you seek professional legal counseling before entering into
any contract or agreement.

Contract Employing Real Estate Broker For Lease Of Property

This agreement dated _________________, is made By and Between ________________, whose address is __________________, referred to as "Owner", AND __________________, whose address is ________________, referred to as "Broker."

1. Property. Owner is the owner of the following real estate:

2. Employment of Broker. Owner gives the Broker the sole right to rent space in the above property to prospective tenants.

3. Commission. Owner agrees to pay the Broker a commission of ____ DOLLARS ($_________) for services in obtaining the tenants and in negotiating and closing each lease. Owner reserves the right to reject any such lease and will not be responsible for any commission unless and until Owner accepts the lease and receive payment therefore. A commission of ____ DOLLARS ($_________) will be payable for renewals of leases originally obtained by the Broker. All commissions will be paid out of rents received.

4. Sole Agency. I agree to refer all inquiries from prospective tenants or their agents to the Broker. The Broker agrees to use his or her best efforts to lease the property to such prospects.

5. Other Brokers. The Broker agrees to obtain the assistance of other brokers, as required, and to pay same out of the aforesaid commissions provided for in this agreement. In no event shall Owner be liable for additional commissions due to the efforts of any other broker.

6. Advertisement. The Broker and all other brokers as noted above shall be entitled to advertise the rental of this property and take all necessary steps in accordance with this agreement.

7. Signs. The Broker will provide suitable sign or signs to be placed on the property, subject to my approval.

8. Term of Agreement. This agreement shall remain effective until _______________, unless terminated prior thereto.

9. Termination. Either party may terminate this contract on twenty (20) days notice. Such termination shall not limit the Brokers right to commissions resulting from pending negotiations and pending leases. However, no commissions shall be paid from rents received three (3) months after the termination of this agreement.

10. Signatures. Both the Broker and Owner agree to the above:

Witnessed by:
__________________ ___________________
"OWNER"

__________________ ___________________
"BROKER"

NOTICE

The information in this document is designed to provide an outline that you can follow
when formulating business or personal plans. Due to the variances of many local, city, county
and state laws, we recommend that you seek professional legal counseling before entering into
any contract or agreement.

Bill Of Sale

STATE OF _______________)
) ss:
COUNTY OF ________(2)________)

KNOW YE ALL MEN BY THESE PRESENTS,

That, ______________, of _____________________, for and in consideration of payment of the sum of $________, the receipt of which is hereby acknowledged, do hereby grant, bargain, sell and convey to ___________________ of
________________________, and his heirs, executors, administrators, successors and assigns the following property:

(Description of Property)

I hereby warrant that I am the lawful owner of said property and that I have full legal right, power and authority to sell said property. I further warrant said property to be free of all
encumbrances and that I will warrant and defend said property hereby sold against any and all persons whomsoever.

IN WITNESS WHEREOF, I, the seller, have hereto set my hand and seal this __ day of _________, 20__.
__________________________

STATE OF _________________)
) ss:
COUNTY OF ________________)

On this __ day of ______________, 20__, before me personally came and appeared _________(17)___________, known, and known to me, to be the individual described in and who executed the foregoing instrument, and who duly acknowledged to me that he
executed same for the purpose therein contained.

IN WITNESS WHEREOF, I hereunto set my hand and official seal.

________________________

My Commission Expires: __________________

NOTICE

The information in this document is designed to provide an outline that you can follow when formulating business or personal plans. Due to the variances of many local, city, county and state laws, we recommend that you seek professional legal counseling before entering into any contract or agreement.

Parking Space Lease

This Agreement is made and entered in this __ day of ____________, 20__, between ___________________, of _______________________, hereinafter referred to as "Landlord" and ______________, of ____________________, hereinafter referred to as "Tenant".

WHEREAS, Landlord desires to lease to Tenant and Tenant desires to lease from Landlord the premises generally described as _______________, it is herein agreed as follows:

1. Landlord hereby leases to Tenant parking space located at the premises described above and designated as space No. ____, for a term of _______ beginning _________________ and ending __________________.

2. Tenant agrees to pay the stipulated rent in advance on the __ day of each month to Landlord or his agent by mail or in person to Landlord or his agent at their respective addresses as noted above.

3. Upon receiving any payment of parking space rent in cash, Landlord agrees to issue a receipt stating the name of Tenant, the amount of rent paid, the designation of the parking space and the period for which said rent is paid.

4. Tenant affirms his understanding that Landlord does not furnish attendants for the parking of automobiles, and if any employee of Landlord shall, at the request of the Tenant, handle, move, park or drive any vehicle placed in the parking area, then, and in every case, such employee shall be deemed the agent of Tenant, and Tenant, not the Landlord, shall be liable for any loss, damage, injury or expense that may be suffered or sustained in connection therewith or arising from the acts of Tenant or any employee who may be acting as agent of Tenant.

5. Landlord is not responsible for items left in any vehicle parked in the designated space.

IN WITNESS WHEREOF, the parties hereto have executed this Agreement on the date first above written.

____________________

____________________

NOTICE

The information in this document is designed to provide an outline that you can follow when formulating business or personal plans. Due to the variances of many local, city, county and state laws, we recommend that you seek professional legal counseling before entering into any contract or agreement.

Notice Of Right Of Rescission

$____________ Mortgage on Property situated at:

_________________

[Identification of Transaction]

Notice to Customer Required by Federal Law:
You have entered into a transaction on ___________, 20__ which may result in a lien, mortgage or other security interest on your home. You have a legal right under federal law to cancel this transaction, if you desire to do so, without any penalty or obligation, within three business days from the above date or any later date on which all material disclosures required under the Truth in Lending Act have been given to you. If you so cancel the transaction, any lien, mortgage or other security interest on your home arising from this transaction is automatically void. You are also entitled to receive a refund of any down payment or other consideration if you cancel. If you decide to cancel this transaction, you may do so by notifying
________________________________
[Name of Creditor]
at: __________________________
[Address of Creditor's Place of Business]
by mail or telegram sent not later than midnight of __________, 20__. You may also use any other form of written notice identifying the transaction if it is delivered to the above address not later than that time. This notice may be used for that purpose by dating and signing below.

I hereby cancel this transaction.

________________ ________________
[Date] [Customer's Signature]

See Next Page for Important Information
About Your Right of Rescission

Receipt is herewith acknowledged of the foregoing NOTICE, EACH of the undersigned CUSTOMERS having received two copies thereof, and one copy of the Disclosure Statements concerning the above identified transaction this __ day of _________, 20__.
__________________________________

EFFECT OF RESCISSION. When a customer exercised his right to rescind under paragraph [a] of this section, he is not liable for any finance or other charge, and any security interest becomes void upon such a rescission. Within ten days after receipt of a notice of rescission, the creditor shall return to the customer any money or property given as earnest money, down payment or otherwise, and shall take any action necessary or appropriate to reflect the termination of any security interest created under the transaction. If the creditor has delivered any property to the customer, the customer may retain possession of it. Upon the performance of the creditor's obligations under this section, the customer shall tender the property to the creditor, except that if return of the property in kind would be impracticable or inequitable, the customer shall tender its reasonable value. Tender shall be made at the location of the property or at the residence of the customer, at the option of the customer. If the creditor does not take possession of the property within ten days after tender by the customer, ownership of the property vests in the customer without obligation on his part to pay for it.

Issue two copies to customer.

Revocable Trust Declaration

This Declaration of Revocable Trust is made this __ day of ______________, 20__, by and between ________________, of ______________________, hereinafter called the Trustor, and _________________, of _____________________, hereinafter called the Trustee.

I

The Trustor hereby assigns, conveys and gives to the Trustee, in trust, the following property:

(Description of Property)

II

The Trustee shall receive and hold said property, together with any additions thereto, in trust for the use and benefit of:

III

I reserve the absolute right, during my life, by an instrument in writing signed by me, to revoke, annul and cancel this agreement and the trust created hereby; and to alter, modify or amend this trust in any and all aspects; and to withdraw at any time, and from time to time, any and all of the aforesaid property; and to add thereto at any time, and from time to time, such additional property as I may determine.

IV

This agreement and the trust created hereby shall be administered, managed, governed and regulated in all respects according to applicable statutes of the State of ___________.

V

The Trustee, in addition to all other powers granted by this agreement and by law, shall have the following additional powers with respect to the trust, to be exercised from time to time at the Trustee's discretion:

Management of the Trust

To invest and reinvest, lease, rent, mortgage, insure, repair, improve or sell any of the real and personal property of the trust as he may deem advisable.

Business Interests

To sell or otherwise liquidate, or to continue to operate at his discretion, any corporation, partnership or other business interest which may be received by the trust.

Mortgages, Pledges and Deeds of Trust

To enforce any and all mortgages, pledges and deeds of trust held by the trust and to purchase at any sale thereunder any such real estate or personal property subject to any mortgage, pledge or deed of trust.

Litigation

To initiate or defend, at his discretion, any litigation affecting the trust.

Attorneys, Advisors and Agents

To employ and to pay from the trust reasonable compensation to such attorneys, accountants, brokers, and investment, tax and other advisors as he shall deem advisable.

Adjustment of Claims

To submit to arbitration, to compromise or to release or otherwise adjust, with or without compensation, any and all claims affecting the trust estate.

VI

No bond for the faithful performance of duties shall be required of any Trustee appointed under this agreement.

VII

The Trustee shall receive reasonable compensation for the services performed by him, but such compensation shall not exceed the amount customarily received by corporate fiduciaries in the area for like services.

VIII

No Trustee of the trust created by this agreement shall at any time be held liable for any action or default of himself, or of his agent, or of any other person in connection with the administration and management of this trust unless caused by his own gross negligence or by commission of a willful act of breach of trust.

IX

The Trustee, by joining in the execution of this agreement, hereby signifies his acceptance of this trust.

X

The Trustee shall have sole authority to determine what shall be defined as income and what shall be defined as principal of the trust established by this agreement, and to determine which costs, taxes and other expenses shall be paid out of income and which shall be paid out of principal.

XI

In the event that any portion of this agreement or the trust created hereby shall be held illegal, invalid or otherwise inoperative, it is my intention that all of the other provisions hereof shall continue to be fully effective and operative insofar as is possible and reasonable.

IN WITNESS WHEREOF, the parties hereto have executed this agreement the day and year first above written.

___________________ ___________________
Trustor

___________________

___________________ ___________________
Trustee

___________________

I, the undersigned spouse of the above-described Trustor, do hereby waive and relinquish any and all claim to whatever community-property rights I may have in the hereinabove-described property and do give and grant my assent to the trust and to the incorporation therein of said property.

__________________ __________________
Legal Spouse of Trustor

__________________

STATE OF _______________)
) ss:
COUNTY OF _______________)

On this __ day of ____________, 20__, before me personally came and appeared _________________ and _______________, known, and known to me, to be the individuals described in and who executed the foregoing instrument, and who duly acknowledged to me that they executed same for the purpose therein contained.

IN WITNESS WHEREOF, I hereunto set my hand and official seal.

___________________

My Commission Expires: _______________

NOTICE

The information in this document is designed to provide an outline that you can follow when formulating business or personal plans. Due to the variances of many local, city, county and state laws, we recommend that you seek professional legal counseling before entering into any contract or agreement.

Offer To Exchange Realty For Shares Resolution - Acceptance

Whereas, ____________________, the owner of certain real estate situated at ___________________ in the City of _____________, County of __________________, State of _________________, has offered to sell to the __________ Corporation (hereinafter sometimes referred to as the "Corporation"), the real estate, as more particularly described in the offer attached hereto, for the issuance to him of ____ percent of the authorized stock of the Corporation, fully paid and nonassessable; and

Whereas, the previously described real estate is valuable for the use and lawful purpose of the Corporation;

Now, therefore, be it resolved that the board of directors of the Corporation accept the offer and agree, on receipt of the deed transferring the real estate to the Corporation, to issue all
authorized stock of the Corporation, fully paid and nonassessable, in full payment thereof.

By the Board of Directors, this resolution is adopted ___________________.

_________________________
Chairman, Board of Directors

NOTICE

The information in this document is designed to provide an outline that you can follow when formulating business or personal plans. Due to the variances of many local, city, county and state laws, we recommend that you seek professional legal counseling before entering into any contract or agreement.