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Reservation This letter of intent specifies terms under which the buyer may have interest in purchasing the specified property from the Seller. Should the Seller find the proposed terms generally acceptable, the Buyer may then direct the Agent to prepare a formal Residential contract for sale for the consideration of the Seller. The Letter of Intent is not an offer to purchase or sell as such an offer shall be made only on a standard contract which also includes provisions required by law. 1. Property Address: 3199 Maco Road, Sandy Creek, NC 2. Buyers Name ______________________________________________________ Address __________________________________________________________ Phone ____________________________________________________________ 3. Please enter which unit(s) you are interested in the space provided and how many of each ___"T" hanger, ___ 36' x 44' hanger___Residential lot. 4. Development name: Tailwinds 5. Settlement Date: Projected for September, 2009 6. Financing Contingency: Financing must be approved 30 days prior to closing. This contingency is necessary so we may offer your unit(s) to the next person on the list and allow them to secure financing in time for occupancy. 7. Other terms: The first 12 units of "T" hangers and 36' x 44' hangers will be offered at $47,000.00 and $65,000.00 respectively. Residential lots will start at $100,000.00 for the first three reservations. Prices will increase as these units are sold. 8. No deposit will be necessary at this time, but you will have to adhere to the financing contingency to secure your place and pricing. Submitted for consideration this ______ day of ___________________________
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