a master forms residential index
TRANSCRIPT
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AREA Agency Disclosure Forms Jan 22, 2004 Customer Status Disclosure
Jan 22, 2004 Informed Dual Agency Sale
Jan 22, 2004 Referral Disclosure (Jan 2004)
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AREA Brokerage Forms Jan 22, 2004 Buyer Brokerage Amendment
Jan 22, 2004 Buyer Brokerage Contract
Jan 22, 2004 Buyer Brokerage Termination
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AREA Residential Contracts Jan 21, 2004 Addendum Purchase Contract
Jan 21, 2004 Amendment Addendum Form
Jan 21, 2004 Amendment Agreement Extension
Jan 21, 2004 Ammendment Purchase Contract
Jan 21, 2004 Commission Agreement
Jan 21, 2004 Condo Property Schedule
Jan 21, 2004 Condominium Appendix
Jan 21, 2004 Dower Schedule
Jan 21, 2004 Financing Schedule
Jan 21, 2004 Listing Contract Appendix
Jan 21, 2004 Listing Termination Agreement
Jan 21, 2004 Notice
Jan 21, 2004 Property Inspection Schedule
Jan 21, 2004 Property Schedule
Jan 21, 2004 Residential Listing Contract
Jan 21, 2004 Residential Purchase Contract
Jan 21, 2004 Sale Buyer Home
Jan 21, 2004 Seller Buyer Notice
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Forms
Nov 1, 2002 Agent Disclosure Form
Nov 1, 2002 Alberta New Home Warranty Program Appendix A
Nov 1, 2002 Alberta New Home Warranty Program Appendix A - Schedule A
Nov 1, 2002 Alberta New Home Warranty Program Appendix A - Schedule B
Nov 1, 2002 Alberta New Home Warranty Program Appendix A - Schedule C
Dec 1, 2002 Alberta New Home Warranty Program Appendix B - Addendum
Dec 1, 2002 Alberta New Home Warranty Program Appendix C
AREA Credential Form for Alberta Crown Land - Residential
Jun 1, 2002 Broker / Agent Buying On Own Behlaf
Sep 1, 2000 Builder / Realtor Registration Form
Nov 1, 2002 Condominium Sellers Property Disclosure Statement
Aug 1, 2001 Corporate Relocation Buyer / Seller Disclosure
Sep 26, 2003 CREN Ad Form
Mar 1, 2003 MLS Preview Form & Background
Jun 1, 2002 Mortgage Verification
Jan 1, 2003 New Home Schedule
Dec 1, 2001 Non Disclosure of Buyer / Seller Name
Sep 25, 2003 Real Estate Listing Contract Extension / Amendment Agreement
Dec 1, 2001 Residential Listing Input Form
Jan 14, 2004 Revised Supra Keyholders Lease Agreement
Jan 8, 2004 Supra Key Exchange
Jan 8, 2004 Supra Letter of Authenticity for 3rd Party Pickup
Sep 25, 2003 Urban Residential Property Disclosure Statement
Customer Status Disclosure Acknowledgment(To be used when there is no agency relationship)
Members of the Canadian Real Estate Association are required to abide by a strict Code of Ethics and Standards of Business Practice,which serves to protect the buying and selling public alike. One of the ethical obligations embodied in the Code requires thatREALTORS disclose who they are representing (or not representing) in a real estate transaction:
A REALTOR shall fully disclose in writing to, and is advised to seek written acknowledgment of disclosure from, all partiesto a transaction regarding the role and the nature of service the REALTOR will be providing to the client versus thecustomer or other party to the transaction.
Agency/Client RelationshipA REALTOR representing a client in a real estate transaction works within a legal relationship called agency. As an agent, theREALTOR owes the client a number of duties including loyalty, obedience of lawful instructions of the client, confidentiality, reasonablecare and skill in performing the tasks required, accounting of all money received, full disclosure of all relevant facts, and nondelegationof responsibilities. The client, on the other hand, owes the agent a duty of reasonable compensation for the services rendered.
Customer
A party may choose to represent him/herself in a real estate transaction. A party representing him/herself (either as a buyer or a seller)is referred to as a third party to the client, and a customer to the REALTOR representing the client. Unless otherwise expressly agreedto in writing, the customer is not expected to pay the REALTOR any compensation. On the other hand, the customer does not havethe protection of the duties which a client in an agency relationship receives from his/her agent. Notwithstanding the foregoing, aREALTOR assisting a customer has to be honest and ensure that all information provided to the customer is factually correct.
AcknowledgmentHaving read and understood this form, I/we acknowledge that:
______________________________________________________________________ (name of broker, associate broker or agent)
being registered with ______________________________________________________________________ (name of brokerage)
disclosed that he/she is representing ______________________________________________________________ (name of client) in
the purchase/sale of _________________________________________________________________________________________
__________________________________________________________________ (property address) and is not acting on my behalf.
I further acknowledge that my status in the above transaction is that of a customer.
Dated this _________________ day of ___________________________________________________________, _____________.
_____________________________________________________________ _______________________________________________________________________Customer Witness
_____________________________________________________________ _______________________________________________________________________Customer Witness
© January 2004 The Alberta Real Estate Association
Informed Dual Agency Consent(To be completed by the Buyer and attached to the Purchase Contract #_________________)
The Agency RelationshipYou, the Buyer, have entered into an agency relationship under common law with the Brokerage, including its broker, all its associatebrokers and agents (collectively referred to as the Buyer's Agent).
A brokerage, its broker, associate brokers and agents representing a seller are referred to as the Seller's Agent.
The Buyer's Agent is obligated to protect and promote your interests. Specifically, the Buyer's Agent owes you the fiduciary duties ofloyalty, obedience, confidentiality, reasonable care and skill, full disclosure, and full accounting.
You, as the Buyer, and potential sellers may be represented by different brokerages (the Buyer's Agent and the Seller's Agent). Eachof these Agents owes its client the full fiduciary duties listed above. Other brokerages representing sellers will not have a fiduciaryrelationship with you.
The seller may be acting on its own behalf. In this situation, the Buyer understands that the Brokerage will represent only the Buyeras Buyer’s Agent and will not owe fiduciary duties to the seller.
Dual AgencyDual Agency occurs when one brokerage (the Dual Agent) trading in real estate from one or more locations, represents both you andthe seller, or more than one buyer, with respect to the potential purchase of the Property. In such circumstances, the describedfiduciary duties are limited as follows:
The Dual Agent:(a) will not, without prior written authority, disclose:
(i) to the seller that you will pay a price higher than the offered price (or countered price),
(ii) to you that the seller will accept a price lower than the listed price,
(iii) to the seller the reason that you are buying,
(iv) to you the reason that the seller is selling, and
(v) to you or other buyers the terms and conditions of competing offers;
(b) except as set out in (a), will owe no duty of confidentiality and will disclose to you and the seller all facts known that materiallyaffect or may materially affect the marketability or value of the Property.
The Buyer authorizes the Buyer's Agent (______________________________________________________________________)(the Brokerage)
to act as a Dual Agent in accordance with the above disclosure.
__________________________________________ ___________________________________________ ______________________________________________Buyer Witness Date
__________________________________________ ___________________________________________ ______________________________________________Buyer Witness Date
_________________________________________ ___________________________________________ ______________________________________________Seller Witness Date
__________________________________________ ___________________________________________ ______________________________________________Seller Witness Date
As required by the Real Estate Council of Alberta's Code of Conduct, a real estate brokerage (including its broker, associate brokers, andagents) must only act for one party in a transaction, unless there is full disclosure to all parties, and the dual agency is agreed to inwriting. The client must fully understand the implications of dual agency and give an informed consent in writing prior to entering into areal estate transaction.
© January 2004 The Alberta Real Estate Association
REFERRAL FEE DISCLOSURE FORM
AcknowledgmentI/We acknowledge and agree that:
______________________________________________________________________________________________________________(Broker, associate broker, agent)
representing ____________________________________________________________________________________________________(Brokerage)
will be receiving a referral fee of ____________________________________________________________________________________as a result of
q sale of property q lease of propertyq purchase of property q approved mortgageq other __________________________________________________________
Client Referred From: Client Referred To:
__________________________________________________ __________________________________________________Broker, associate broker, agent
__________________________________________________ __________________________________________________Brokerage
__________________________________________________ __________________________________________________Address Address__________________________________________________ __________________________________________________
(postal code) (postal code)__________________________________________________ __________________________________________________Phone Fax Phone Fax
__________________________________________________ __________________________________________________Email Email
Client Information
Client's Name ___________________________________________________________________________________________________
Address _______________________________________________________________________________________________________
______________________________________________________________________________________________________________(postal code)
______________________________________________________________________________________________________________Phone Fax Email
Additional Client Information______________________________________________________________________________________________________________
______________________________________________________________________________________________________________
______________________________________________________________________________________________________________
______________________________________________________________________________________________________________
SIGNED at _____________________________________, this ________ day of _________________________________, ___________.
________________________________________________ _____________________________________________________Signature of Referred Client Witness
________________________________________________ _____________________________________________________Signature of Referred Client Witness
January 2004
AMENDMENT TO THE BUYER BROKERAGE CONTRACT
Contract # ______________________
Further to the Buyer Brokerage Contract dated the __________ day of ___________________________________________, ______________.
Between
The following changes shall be made to the above Contract and except for such changes noted below, all other terms and conditions in the Contractshall remain as stated therein.
DELETE: ________________________________________________________________________________________________________________________
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INSERT: ________________________________________________________________________________________________________________________
_________________________________________________________________________________________________________________________________
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_________________________________________________________________________________________________________________________________
_________________________________________________________________________________________________________________________________
_________________________________________________________________________________________________________________________________
Dated at ____________________________, Alberta, this ______________day of ______________________________, __________ at __________ a.m./p.m.
______________________________________________________________ __________________________________________________________Buyer Witness
______________________________________________________________ __________________________________________________________Buyer Witness
________________________________________________________Signature of broker, associate broker or agent authorized to sign on behalf of the Brokerage
THE BUYER
Name ____________________________________________________
Name ____________________________________________________
THE BUYER’S BROKERAGE (the “Brokerage”)
Brokerage Name _____________________________________________
___________________________________________________________Broker, associate broker or agent authorized to represent the Brokerage
September 2002/January 2004
and
1.1 Have you entered into any other buyer brokeragecontract with a brokerage in Alberta during the last twelve months? q Yes q No
1.2 Are you currently in a buyer brokerage contract with another real estate brokerage? q Yes q No
2.1 The Buyer agrees to retain only the Brokerage:
(a) to find real estate suitable for the Buyer to Purchase and,
(b) to assist the Buyer in negotiating the terms of the Purchase.
2.2 The following properties are excluded from this Contract:
_____________________________________________________________
_____________________________________________________________
_____________________________________________________________
_____________________________________________________________
2.3 The Term of the Contract is effective today until 11:59 p.m. on ___________
______________________________________________ (the “Expiry Date”)
unless renewed/extended in writing.
3.1 The Buyer agrees to:
(a) advise the Brokerage of real estate in which the Buyer is interested;
(b) provide the Brokerage with sufficient personal and financial informationto enable the Brokerage to determine the Buyer's ability to Purchase realestate;
(c) negotiate in good faith the Purchase of any specific property in which theBuyer is interested.
4.1 The Brokerage will:
(a) provide the Buyer with information about real estate listed on the Board'sMultiple Listing Service® or such other real estate as the Brokerage is orbecomes aware of and which may meet the Buyer's requirements;
(b) assist the Buyer at the Buyer's written request and expense to obtaininspections, real property reports, certificates of title and any othersearches and additional information which the Buyer may require in orderto decide whether to Purchase any specific property;
(c) advise prospective sellers or their brokerages with whom the Brokerageis negotiating that they represent the Buyer;
(d) cooperate with brokerages which represent sellers of real estate;
(e) not disclose the Buyer's identity if instructed not to do so.
5.1 This Contract will automatically end if the Brokerage:
(a) has had its licence to trade in real estate suspended or cancelled underthe Real Estate Act (Alberta);
(b) ceases to be a member in good standing of a real estate board; or
(c) is bankrupt, insolvent, or in receivership.
5.2 Where a party to this Contract has breached the Contract, the other party mayend the Contract by notice in writing to the party in breach.
5.3 The Brokerage may enforce clause 6.4(b) even if the Contract has ended orexpired.
6.1 The Brokerage’s fee (the “Fee”) shall be:
(a) the portion of the real estate commission, if any, paid to the Brokerage bythe seller's brokerage respecting a transaction involving the Buyer (the“Collected Commission”), or
(b) _______________________________________________________plus GST,
whichever is greater.
6.2 (a) As security for payment of the Fee when this Contract is signed, theBuyer will deposit with the Brokerage, to be held in trust, the sum of$________________________________________ (the “Fee Deposit”).
(b) The Brokerage is authorized to apply the Fee Deposit toward the Fee andapplicable GST.
(c) The Fee Deposit shall be refunded to the Buyer not later than 90 daysafter the Expiry Date if the Fee is not earned according to clause 6.4. Ifthe Buyer has signed a contract with a new brokerage as per clause 6.5,the Fee Deposit shall be refunded forthwith to the Buyer.
6.3 If any Collected Commission plus the Fee Deposit:
(a) exceeds the Fee and GST, then the excess will immediately be paid bythe Brokerage to the Buyer, or
(b) is less than the Fee and GST, then the shortfall will immediately be paidby the Buyer to the Brokerage.
BUYER BROKERAGE CONTRACTThis form was developed by the Alberta Real Estate Association for the use of its members and
may not be altered electronically by any person. Others who use this document do so at their own risk.
This Contract is between
THE BUYER
Name _____________________________________________________________
Name _____________________________________________________________
Address ___________________________________________________________
__________________________________________________________________(postal code)
Phone _______________________________ Fax ________________________
Email ______________________________________________________________
THE BUYER’S BROKERAGE (the “Brokerage”)
Brokerage Name ____________________________________________________
___________________________________ Email _________________________
Address ___________________________________________________________(postal code)
Phone _____________________________ Fax __________________________
__________________________________________________________________Broker, associate broker or agent authorized to represent the Brokerage
Member of the ____________________________ Real Estate Board (the “Board”)
and
1. OTHER BUYER BROKERAGE CONTRACTS
______________ ______________ Buyer’s Initials Buyer’s Initials
January 2004 The Alberta Real Estate Association Page 1 of 2
3. DUTIES OF THE BUYER
4. DUTIES OF THE BROKERAGE
5. ENDING THIS CONTRACT
6. THE BROKERAGE’S COMPENSATION
2. TERM OF THIS CONTRACT
CONTRACT # _________________________
6.4 The Brokerage will be entitled to receive the Fee and the Buyer will be obligatedto pay it, if:(a)(i) during the term of this Contract, the Buyer enters into a contract for the
Purchase of any specific property; (ii) the obligations of the parties are (have become) unconditional; and (iii) at the closing date the seller is willing and able to complete the
transaction; or(b) within 90 days after this Contract has ended, the Buyer enters into a
contract for the Purchase of any specific property and during the term ofthis Contract the specific property was introduced to the Buyer by theBrokerage or through the efforts of the Brokerage.
6.5 Clause 6.4 will not apply if after this Contract has ended the Buyer has signedan agreement with a new brokerage and the Buyer is obligated to pay a fee tothe new brokerage as a result of the Purchase of any specific property.
6.6 The Fee plus GST earned by the Brokerage shall be payable upon completionof the transaction. If there is an additional amount payable to the Brokerage,the Buyer will pay it upon completion of the transaction. In the event the Buyerrefuses to complete the transaction, the Fee is due and payable within seven(7) days of demand by the Brokerage.
7.1 You, the Buyer, have entered into an agency relationship under common lawwith the Brokerage, including its broker, all its associate brokers and agents(collectively referred to as the Buyer's Agent). A brokerage, its broker,associate brokers and agents representing a seller are referred to as theSeller's Agent.
7.2 The Buyer's Agent is obligated to protect and promote your interests.Specifically, the Buyer's Agent owes you the fiduciary duties of loyalty,obedience, confidentiality, reasonable care and skill, full disclosure and fullaccounting.
7.3 You, as the Buyer, and potential sellers may be represented by differentbrokerages (the Buyer's Agent and the Seller's Agent). Each of these Agentsowes its client the full fiduciary duties listed above. Other brokeragesrepresenting sellers will not have a fiduciary relationship with you.
7.4 Dual Agency occurs when one brokerage (the Dual Agent), trading in realestate from one or more locations, represents both you and the seller, or morethan one buyer, with respect to the potential purchase of a property. In suchcircumstances, the described fiduciary duties are limited as follows:
The Dual Agent:(a) will not, without prior written authority, disclose:
(i) to the seller that you will pay a price higher than the offered price (orcountered price),
(ii) to you that the seller will accept a price lower than the listed price,
(iii) to the seller the reason that you are buying,
(iv) to you the reason the seller is selling, and
(v) to you or other buyers the terms and conditions of competing offers;(b) except as set out in (a), will owe no duty of confidentiality and will disclose
to you and the seller all facts known that materially affect or maymaterially affect the marketability or value of the specific property.
7.5 The Buyer authorizes the Buyer's Agent to act as a Dual Agent accordingto the terms of this section.
8.1 All changes of number will be made where required.8.2 This Contract will be governed by the laws of the Province of Alberta. The
parties submit to the jurisdiction of the Courts in the Province of Alberta in anydispute that may arise out of this transaction.
8.3 This Contract may be signed by the parties and transmitted by fax. Thisprocedure will be as effective as if the parties had signed and delivered anoriginal copy.
8.4 The Buyer warrants that, prior to completion, he/she is NOT an “ineligibleperson” or a “foreign controlled corporation” and is eligible to purchase“controlled land” as those terms are defined in the Foreign Ownership of LandRegulations.
9.1 In this Contract:
(a) “Buyer” is understood to include a tenant.
(b) “Buyer's Agent” means the licensed brokerage (including its broker, allassociate brokers and agents) who represents the Buyer or tenant.
(c) “Lease” is a contract between an owner and a tenant that transfers tothe tenant the right to use a piece of property for a specified length of timeunder specific conditions.
(d) “Purchase” includes any sale, agreement for sale, exchange or trade ofproperty and a Lease, Offer to Lease, or a Lease with an option topurchase.
(e) “Purchase Price” means the total consideration to be paid by the Buyereither at the closing date or at some future described time.
(f) “Seller” is understood to include a landlord.
(g) “Seller's Agent” means the licensed brokerage (including its broker, allassociate brokers and agents) who represents the seller or landlord.
10.1 The Buyer acknowledges that the Brokerage is being retained as a realestate broker, not as a lawyer, tax advisor, lender, appraiser, surveyor,structural engineer, property inspector, or other professional serviceprovider.
10.2 This Contract creates binding legal obligations. The Buyer acknowledgesthat he/she has been advised to seek professional advice concerning thecondition of any specific property that the Buyer might be introduced toand with respect to any legal and tax matters regarding the entering intoof this Contract.
10.3 The Buyer consents to have the Brokerage collect, use and disclosepersonal information provided for purposes relating to the real estateservices provided by the Brokerage to the Buyer including, but notlimited to: (a) locating, assessing and qualifying property for the Buyer;(b) advertising on behalf of the Buyer;(c) providing information as needed to third parties retained by the
Buyer to assist in a transaction (e.g., financial institutions, buildinginspectors, etc.); and
(d) such other use of the Buyer’s information as is consistent with theservices provided by the Brokerage in connection with thepurchase or prospective purchase of the property.
The Buyer agrees that the sale and other related information regardingany property purchased by the Buyer through the Brokerage may beretained and disclosed by the Brokerage and/or the Board(s) as requiredfor closing and for reporting, appraisal and statistical purposes.
THIS CONTRACT IS MADE AS OF
__________________________________________________________________Date
_______________________________ _______________________________Buyer Witness
_______________________________ _______________________________Print Name of Buyer Print Name of Witness
_______________________________ _______________________________Buyer Witness
_______________________________ _______________________________Print Name of Buyer Print Name of Witness
__________________________________________________________________Signature of broker, associate broker, or agent authorized to sign on behalf of theBrokerage
Buyers' initials to acknowledge theyhave received a copy of this Contract. ___________________________
8. ADDITIONAL TERMS
7. AGENCY DISCLOSURE/ACKNOWLEDGMENT
9. DEFINITIONS
10. ACKNOWLEDGMENT
Page 2 of 2
CONTRACT # _________________________
BUYER BROKERAGETERMINATION AGREEMENT
Contract # _________________________
Between
The parties wish to terminate the Buyer Brokerage Contract dated ______________________________________________, ______________.
q Conditional Termination
Fee entitlement will continue as per the provisions of clauses 6.4 and 6.5 of the Buyer Brokerage Contract.
q Unconditional TerminationTo be used where the parties want to sever their relationship with no ongoing obligations.
Additional terms: ______________________________________________________________________________________________________
____________________________________________________________________________________________________________________
____________________________________________________________________________________________________________________
____________________________________________________________________________________________________________________
____________________________________________________________________________________________________________________
DATED at ________________________, Alberta this ___________day of ___________________________________________, __________.
______________________________________________________________ __________________________________________________________Buyer Witness
______________________________________________________________ __________________________________________________________Buyer Witness
_____________________________________________________________ _____________________________________________________Approved and accepted by the Buyer’s Broker/Manager Signature of broker, associate broker or agent authorized to sign on behalf of the
Brokerage
Buyer acknowledges receiving a copy of this Agreement. ___________________________________________________________
January 2004
THE BUYER
Name _________________________________________________
Name _________________________________________________
THE BUYER’S BROKERAGE (the “Brokerage”)
Brokerage Name _________________________________________
_______________________________________________________Broker, associate broker or agent authorized to represent the Brokerage
and
ADDENDUM ________ TO THE REAL ESTATE PURCHASE CONTRACT
This Addendum is attached to and forms part of the Real Estate Purchase Contract # _____________________________
Between
With respect to the Property described as:
Municipal Address ________________________________________________________________________________________________________________
_________________________________________________________________________________________________________________________________
Legal Address: Plan ________________________________________________ Block ____________________ Lot/Unit _________________Legal Legal
Condo. Plan _______________________________________________________ Unit No. __________________ Parking Unit _____________
Other ___________________________________________________________________________________________________________________________
_________________________________________________________________________________________________________________________________
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Note: This form must be signed by all parties to the Real Estate Purchase Contract.
_____________________________________________________________Date
_____________________________________________________________ _________________________________________________________________Seller Witness
_____________________________________________________________ _________________________________________________________________Seller Witness
_____________________________________________________________ _________________________________________________________________Buyer Witness
_____________________________________________________________ _________________________________________________________________Buyer Witness
THE SELLER
Name ________________________________________________________
Name ________________________________________________________
THE BUYER
Name _________________________________________________________
Name _________________________________________________________
January 2004
and
AMENDMENT/ADDENDUM FORM Contract # ____________________________
Further to the Contract dated the _____________ day of ________________________________________________________, ____________.
Between
With respect to the Property described as:
Municipal Address ________________________________________________________________________________________________________________
_________________________________________________________________________________________________________________________________
Legal Address: Plan __________________________________________________ Block ____________________ Lot/Unit ______________
Legal LegalCondo. Plan _______________________________________________________ Unit No. __________________ Parking Unit _____________
Other ___________________________________________________________________________________________________________________________
_________________________________________________________________________________________________________________________________
_________________________________________________________________________________________________________________________________
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Dated at _______________________________, Alberta, this ________ day of ________________________, _________ at ________ a.m./p.m.
_____________________________________________________________ _________________________________________________________________Witness
_____________________________________________________________ _________________________________________________________________Witness
Dated at ________________________________, Alberta, this ________ day of ______________________, _________ at _________ a.m./p.m.
_____________________________________________________________ _________________________________________________________________Witness
_____________________________________________________________ _________________________________________________________________Witness
Name ______________________________________________________
Name ______________________________________________________
Name ______________________________________________________
Name ______________________________________________________
January 2004
and
W. of Range Township Section Part Acres
REAL ESTATE LISTING CONTRACTEXTENSION/AMENDMENT AGREEMENT
MLS# _______________________________________ Real Estate Listing Contract # ________________________________
TO: _____________________________________________________________________________________________________________________________Brokerage Name (the “Brokerage”)
My/Our Property known as:________________________________________________________________________________________________________________________________.Municipal Address
Plan _________________________________________________ Block ______________________ Lot ________________ Subdivision _________________OR
ORCondo. Unit No. _________________________________ Plan No. _________________________________ Project Name ____________________________
Current Price $ ________________________________________________ Current Expiry Date __________________________________________________
I/We hereby agree to the following changes with reference to the above listing:1. Listing Extension:
The expiry date of the said Real Estate Listing Contract is extended until 11:59 p.m. on ________________________________________________________________________________________________________, _________________
2. Price Change: The asking price for the Property will be changed to $ __________________________________________________________________________
effective as of ____________________________________________________________________________________________, ________________.
3. Other Amendments (if any): _______________________________________________________________________________________________
__________________________________________________________________________________________________________________________
__________________________________________________________________________________________________________________________
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Dated this ___________________________day of ____________________________________________________________________, ___________________
_________________________________________________________ ______________________________________________________________________Seller Witness
_________________________________________________________ ______________________________________________________________________Seller Witness
________________________________________________________________________ __________________________________________________________________________________________Address Seller acknowledges receiving a copy of this Agreement
_________________________________________________________________________________________Signature of broker, associate broker or agent authorized to sign on behalf of the Brokerage
January 2004
W. of Range Township Section Part Acres
AMENDMENT TO THE REAL ESTATE PURCHASE CONTRACT
Real Estate Purchase Contract # __________________________
Further to the Real Estate Purchase Contract dated the ____________ day of _________________________________________, __________.
Between
With respect to the Property described as:
Municipal Address ________________________________________________________________________________________________________________
_________________________________________________________________________________________________________________________________
Legal Address: Plan __________________________________________________ Block ___________________ Lot/Unit ________________Legal Legal
Condo. Plan _______________________________________________________ Unit No. __________________ Parking Unit _____________
Other ___________________________________________________________________________________________________________________________
_________________________________________________________________________________________________________________________________
The following changes shall be made to the above Purchase Contract and except for such changes noted below, all other terms and conditions inthe Purchase Contract shall remain as stated therein.
DELETE: ________________________________________________________________________________________________________________________
_________________________________________________________________________________________________________________________________
_________________________________________________________________________________________________________________________________
_________________________________________________________________________________________________________________________________
_________________________________________________________________________________________________________________________________
INSERT: ________________________________________________________________________________________________________________________
_________________________________________________________________________________________________________________________________
_________________________________________________________________________________________________________________________________
_________________________________________________________________________________________________________________________________
_________________________________________________________________________________________________________________________________
Dated at _______________________________, Alberta, this ________ day of ________________________, _______ at __________ a.m./p.m.
_____________________________________________________________ _________________________________________________________________Seller Witness
_____________________________________________________________ _________________________________________________________________Seller Witness
Dated at ________________________________, Alberta, this ________ day of ______________________, _________ at _________ a.m./p.m.
_____________________________________________________________ _________________________________________________________________Buyer Witness
_____________________________________________________________ _________________________________________________________________Buyer Witness
THE SELLER
Name ________________________________________________________
Name ________________________________________________________
THE BUYER
Name _________________________________________________________
Name _________________________________________________________
January 2004
and
W. of Range Township Section Part Acres
COMMISSION AGREEMENTThis Agreement is between
I, the Seller, acknowledge that ____________________________________________________________________________________ is acting(Brokerage Name)
only on behalf of the buyer in this transaction and owes me no fiduciary duties.
I hereby authorize the Brokerage to offer for sale my Property known as:Address ______________________________________________________________________________________________________________
Plan ____________________________________________________ Block _________________________ Lot __________________________
Condominium Plan ________________________________________ Legal Unit No. __________________ Legal Parking Unit ______________
Other ________________________________________________________________________________________________________________
I have stated an asking price of $ __________________________________________________________________________________________I warrant that I have the legal authority to sell the Property and that all the information I have provided to the Brokerage is correct and accurate to thebest of my knowledge.
If the Brokerage is successful in obtaining an offer with terms satisfactory to me within 10 days of this Agreement, I will pay the Brokerage aCommission of _________________________________________________________________ plus GST. I will pay the Commission to theBrokerage no later than the third day after the sale is complete. If an offer is not brought in within 10 days, this Agreement is terminated.
If the Property is sold or disposed of by me to a person introduced to the Property by the Brokerage within 90 days after the introduction, I must paythe Commission.
I further authorize the Brokerage to secure and have the Deposits received placed in the Brokerage’s trust account and I authorize the Brokerage todeduct the said Commission from the Deposits on the sale closing date. If the Deposit is less than the total Commission due, the balance owing willbe deducted from the sale proceeds.
(a) I direct the Brokerage or any other person who holds the Deposits to use the Deposits to pay for any money owed in this Agreement.(b) I assign to the Brokerage enough of the purchase money to pay all money owed under this Agreement. I agree not to revoke this assignment.(c) I direct my lawyer to pay all money owed under this Agreement from the purchase money or Deposits held by my lawyer.(d) I now encumber all of my interest in the Land, Buildings and Attached Goods for the benefit of the Brokerage to secure payment to the
Brokerage of all money which may be owed by me to the Brokerage under this Agreement. I agree that the Brokerage is entitled to encumberthe Land in accordance with the Land Titles Act (Alberta). I now authorize the Brokerage to file and maintain a caveat to give notice of thisencumbrance.
(e) If the Brokerage successfully enforces any of its rights or remedies under this section, I will pay reasonable lawyer and legal fees and costsincurred by the Brokerage.
The Seller consents to the collection, use and disclosure of personal information by the Brokerage for the purpose of listing and marketing the Property.
Dated at _________________________________________ this ____________day of _______________________________________________, __________.
_________________________________________________________ _____________________________________________________________________Seller Witness
_________________________________________________________ _____________________________________________________________________Seller Witness
___________________________________________________________Signature of broker, associate broker or agent authorized to sign on behalf of the Brokerage
January 2004
THE SELLER
Name ____________________________________________________________
Name ____________________________________________________________
Address __________________________________________________________
_________________________________________________________________
THE BUYER’S BROKERAGE (the “Brokerage”)
Brokerage Name ___________________________________________________
Address __________________________________________________________
_________________________________________________________________
_________________________________________________________________Broker, associate broker or agent authorized to represent the Brokerage
and
1. AGENCY DISCLOSURE
2. THE PROPERTY
3. COMMISSION
4. DEPOSITS
5. SECURITY FOR THE BROKERAGE’S FEES
_____________________________ _________________________________________________ ___________________________________________________Date Seller’s Signature Buyer’s Signature
January 2004
Name of project _______________________________________________________________________________________________________
Municipal address (including suite #) ______________________________________________________________________________________
Condominium plan(s) _____________________________ Condominium plan(s) of redivision, if applicable ______________________________
Legal unit no.(s) _________________________________ Legal parking unit(s) ___________________________ Stall #(s) _________________
Parking condominium plan(s) _______________________ Parking stall(s) owned __________ leased ___________ assigned ______________
Legal storage unit(s) ______________________________ Locker #(s) ___________________________________________________________
Storage unit(s) owned __________ leased ___________ assigned ______________
Condominium type: Conventional ___________________ Bare Land (creating a lot) _________________________
The Buyer's Condition applies only to condominium units for resale [that is, they are not covered by sections 12 and 13 of the CondominiumProperty Act (Alberta) (the "Act")]. All terms have the same meaning as in the Act.
Buyer's Condition
- The Contract is subject to the Buyer’s satisfaction with the condominium documents (the "Documents") listed below.
- The Seller will deliver original or true copies of the Documents to the Buyer at least five (5) Business Days before the Condition Day. TheDocuments are:
CONDOMINIUM PROPERTY SCHEDULEThis Schedule is attached to and forms part of the Real Estate Purchase Contract # _____________________________
l copy of registered condominium planl copy of the Condominium Corporation's current bylawsl copy of the Condominium Corporation's current financial
statement, most recent annual financial statement and annualreport
l copy of current annual budget and condominium fee schedulel copy of the minutes of the most recent general meeting of the
Condominium Corporationl condominium board of directors minutes for the past 12
monthsl copy of any special resolution being circulatedl copy of the insurance certificatel copy of any lease agreement or exclusive use agreement with
respect to the possession of a portion of the CommonProperty, including a parking stall or storage unit
l copy of any management agreementl copy of any recreational agreement
l details of any structural deficiencies in the condominium complexl the amount of the reserve fund l copy of any reserve fund studyl copy of any reserve fund reportl copy of any reserve fund planl the particulars of any post tension cables that are located anywhere
on or within the Property that is included in the condominium planl percentage of owner occupancy in the complexl details of any contributions already levied but which will only
become effective after the Completion Dayl details of any actions commenced against the Corporationl details of any unsatisfied judgment or outstanding court order
against the Corporationl details of any written demand upon the Corporation for payment of
an amount in excess of $5,000l any other relevant details
________________________________________
________________________________________
________________________________________
___________________________________________
___________________________________________
___________________________________________
- If the Seller fails or refuses to deliver the Documents by the agreed time, the Buyer may obtain the Documents through other sources. Allreasonable costs incurred by the Buyer to obtain the Documents will be paid by the Seller including solicitor/client legal fees anddisbursements. The Buyer may set off these costs against the Purchase Price at the Completion Day. The Buyer will have no other remedyagainst the Seller for failing or refusing to deliver the Documents.
Name of project ___________________________________________________________________________________________________________________
Municipal address (including suite #) __________________________________________________________________________________________________
Condominium plan(s) _____________________________________Condominium plan(s) of redivision, if applicable ___________________________________
Legal unit no.(s) _________________________________________Legal parking unit(s) ____________________________ Stall #(s) ____________________
Parking condominium plan(s) ______________________________ Parking stall(s) owned _____________ leased ______________ assigned _____________
Legal storage unit(s) _____________________________________ Locker #(s) ________________________________________________________________
Storage unit(s) owned _____________ leased _____________ assigned ______________
Condominium type: Conventional __________________________ Bare Land (creating a lot) _____________________________
Important Information (as per clause 9.1 of the Listing Contract):
q copy of registered condominium plan
q copy of the Condominium Corporation's current bylaws
q copy of the Condominium Corporation's current financial statement, most recent annual financial statement and annual report
q copy of current annual budget and condominium fee schedule
q copy of the minutes of the most recent general meeting of the Condominium Corporation
q condominium board of directors minutes for the past 12 months
q copy of any special resolution being circulated
q copy of the insurance certificate
q copy of any lease agreement or exclusive use agreement with respect to the possession of a portion of the Common Property, including a parking stall or storage unit
q copy of any management agreement
q copy of any recreational agreement
q details of any structural deficiencies in the condominium complex
q the amount of the reserve fund
q copy of any reserve fund study
q copy of any reserve fund report
q copy of any reserve fund plan
q the particulars of any post tension cables that are located anywhere on or within the Property that is included in the condominium plan
q percentage of owner occupancy in the complex
q details of any contributions already levied but which will only become effective after the Completion Day
q details of any actions commenced against the Corporation
q details of any unsatisfied judgment or outstanding court order against the Corporation
q details of any written demand upon the Corporation for payment of an amount in excess of $5,000
q any other relevant details
This Important Information (referred to in the Purchase Contract as the “Documents”) will be required by the buyer as a condition of sale.
CONDOMINIUM PROPERTY APPENDIXThis Appendix forms part of the Real Estate Listing Contract # _________________________
January 2004
DOWER SCHEDULE
This Schedule is attached to and forms part of the Real Estate Contract # _____________________________
I, __________________________________________________ being married to ________________________________________________ theregistered owner of the Property, hereby give my consent to the disposition of our homestead made in the Real Estate Contract to which thisconsent is attached and forms a part.
I have signed this document for the purpose of giving up my life estate and other dower rights in the Property, which are given to me by the DowerAct. I am giving up these rights to the extent necessary to give effect to the disposition.
__________________________________________________Signature of Spouse
1. This document was acknowledged before me by __________________________________________________________________ apartfrom her husband (or his wife).
2. _______________________________________________________________________________ acknowledged to me that she (or he)
(a) is aware of the nature of the disposition (or agreement).
(b) is aware that the Dower Act gives her (or him) a life estate in the homestead and the right to prevent disposition of the homesteadby withholding consent.
(c) consents to the disposition (or agreement) for the purpose of giving up the life estate and other dower rights in the homesteadgiven to her (or him) by the Dower Act, to the extent necessary to give effect to the said disposition (or agreement).
(d) is executing the document freely and voluntarily without any compulsion on the part of her husband (or his wife).
DATED at __________________________ in the Province of Alberta, this ___________ day of _________________________, __________.
__________________________________________________Title of Officiating Officer
I, ________________________________________________________ of _____________________________________________ in theProvince of Alberta, MAKE OATH AND SAY:
1. I am the Seller named in the Real Estate Contract to which this Affidavit is attached and forms a part.
2. I am not married, ORNeither my spouse nor I have resided on the Property at any time during our marriage.
SWORN before me at ______________________________________________________________________ in the Province of Alberta this
___________________ day of ____________________________________________________________________, ___________________.
_________________________________________________A Commissioner for Oaths, etc. (or as the case may be)
September 2002/January 2004
CONSENT OF SPOUSE
CERTIFICATE OF ACKNOWLEDGMENT BY SPOUSE
DOWER AFFIDAVIT
1. ASSUMPTION OF MORTGAGE(S)
If the Buyer is to assume a mortgage(s), then the Seller warrants thefollowing to the Buyer:
l Name of lender __________________________________ _______
l Address of lender _______________________________________________________________________________________________
l Approximate principal balance $ ____________________________
l Maturity date ____________________________________________
l Interest rate ____________________________________________
l Payments of $ __________________________________________
l Payments include taxes? q Yes q No
l Approval to assume required? q Yes q No
l Other terms ____________________________________________
______________________________________________________
______________________________________________________
l Assumed second or other mortgage details ___________________
_______________________________________________________
_______________________________________________________
_______________________________________________________
_______________________________________________________
Where the covenant for payment in the mortgage(s) being assumed isenforceable against the Seller, the Seller must approve any assignment ofthis Contract by the Buyer.
The Buyer will pay the costs to process and document any approvals toassume a mortgage(s).
2. OTHER VALUE
The Buyer will provide the following to the Seller as part of the PurchasePrice: (Describe the value by detailed description, serial number, etc. - ifthe Other Value is a mortgage, then use the same information/details asunder New Financing)
__________________________________________________________
__________________________________________________________
__________________________________________________________
__________________________________________________________
__________________________________________________________
__________________________________________________________
__________________________________________________________
__________________________________________________________
The Buyer will pay for preparing and registering any security documentsregarding the Other Value.
3. SELLER FINANCING
If the Seller is to provide financing to the Buyer, then the details are asfollows:
l Principal sum of $ ________________________________________
l Subject to adjustments? q Yes q No
l Interest rate at ____________ percent, calculated ___________ notin advance.
l Payments of $ ___________________________________________
l Payments to include taxes? q Yes q No
l Amortization of ________________________ years.
l Term of ________________________ year(s)/months commencingfrom the Completion Day.
l Interest adjustment day ____________________________________
l Security (mortgage, general security agreement, assignment of rents,etc.) ___________________________________________________
_______________________________________________________
_______________________________________________________
_______________________________________________________
l Prepayment? q Closed q Open
If open, what prepayment privileges? _________________________
_______________________________________________________
_______________________________________________________
_______________________________________________________
l Assumable? q Yes q No
l Special conditions _______________________________________
_______________________________________________________
_______________________________________________________
_______________________________________________________
_______________________________________________________
_______________________________________________________
_______________________________________________________
l The Buyer will pay for the reasonable costs to prepare the SellerFinancing security.
l The Buyer will pay for registering the Seller Financing security.
l Where there is Seller Financing, the Seller must approve anyassignment of this Contract by the Buyer
FINANCING SCHEDULEThis Schedule is attached to and forms part of the Real Estate Purchase Contract # ______________________
_____________________________ __________________________________________________ ___________________________________________________Date Seller’s Signature Buyer’s Signature
September 2002/January 2004
APPENDIX TO THEREAL ESTATE LISTING CONTRACT
This Appendix is attached to and forms part of the Real Estate Listing Contract # _________________________________
BetweenTHE SELLER
Name _____________________________________________________________
Name _____________________________________________________________
THE SELLER’S BROKERAGE (the “Brokerage”)
Brokerage Name _____________________________________________________
___________________________________________________________________Broker, associate broker or agent authorized to represent the Brokerage
and
With respect to the Property described as:
Municipal Address __________________________________________________________________________________________________________________________
_________________________________________________________________________________________________________________________________________(postal code)
Legal Address: Plan ________________________________________________________ Block __________________________ Lot/Unit ________________________
Plan _____________________________________________________________________ Block __________________________ Lot/Unit ________________________
__________________________________________________________________________________________________________________________________________________
__________________________________________________________________________________________________________________________________________________
__________________________________________________________________________________________________________________________________________________
__________________________________________________________________________________________________________________________________________________
__________________________________________________________________________________________________________________________________________________
__________________________________________________________________________________________________________________________________________________
__________________________________________________________________________________________________________________________________________________
__________________________________________________________________________________________________________________________________________________
__________________________________________________________________________________________________________________________________________________
__________________________________________________________________________________________________________________________________________________
__________________________________________________________________________________________________________________________________________________
__________________________________________________________________________________________________________________________________________________
__________________________________________________________________________________________________________________________________________________
__________________________________________________________________________________________________________________________________________________
__________________________________________________________________________________________________________________________________________________
__________________________________________________________________________________________________________________________________________________
__________________________________________________________________________________________________________________________________________________
__________________________________________________________________________________________________________________________________________________
Note: This form must be initialled by all parties to the Real Estate Listing Contract.
Dated this ___________________________day of ____________________________________________________________________, ___________________
_________________________________________________________ ______________________________________________________________________Seller Witness
_________________________________________________________ ______________________________________________________________________Seller Witness
_________________________________________________________________________Signature of broker, associate broker or agent authorized to sign on behalf of the Brokerage
January 2004
REAL ESTATE LISTING CONTRACTTERMINATION AGREEMENT
MLS# _______________________________________ Real Estate Listing Contract # ____________________________
Between
The parties wish to terminate the Listing Contract.
The Brokerage hereby agrees to terminate the Listing Contract on the Property at __________________________________________________
____________________________________________________________________________________________________________________
which was dated ______________________________________________________________________________, ______________________.
q Option A: To be used where it is not intended to relist the Property for sale.
The Seller agrees with the Brokerage that:
1. It shall not sell, exchange and/or lease, or accept an offer for the sale, exchange and/or lease of the said Property during theterm of 90 days from the date of this Termination Agreement.
2. In the event that the Seller breaches any of the terms of this Termination Agreement, the Seller shall immediately pay to theBrokerage as liquidated damages a sum equal to the Real Estate Commission as set out in the said Listing Contract.
This clause replaces the provisions of 10.1 in the Real Estate Listing Contract.
q Option B: To be used where the Property is meant to be relisted by another brokerage.
Commission entitlement will continue as per the provisions of clause 10.1 of the Real Estate Listing Contract.
q Option C: To be used where the parties want to sever their relationship with no ongoing obligations.
Additional terms: ______________________________________________________________________________________________________
____________________________________________________________________________________________________________________
____________________________________________________________________________________________________________________
DATED this ____________________________day of ______________________________________________________________________, ______________
_______________________________________________________ ______________________________________________________________________Seller Witness
_______________________________________________________ ______________________________________________________________________Seller Witness
__________________________________________________ _______________________________________________________________Seller acknowledges receiving a copy of this Agreement Approved and accepted by Seller’s Broker/Manager
January 2004
THE SELLER
Name _________________________________________________________
Name _________________________________________________________
THE BROKERAGE (the “Brokerage”)
Brokerage Name ________________________________________________
______________________________________________________________Broker, associate broker or agent authorized to represent the Brokerage
and
NOTICEAs per the Real Estate Purchase Contract
Notice to:
_________________________________________________________________________________________________________________________________Seller/Buyer of the Property
Municipal Address ________________________________________________________________________________________________________________
_________________________________________________________________________________________________________________________________
Legal Address: Plan __________________________________________________ Block ___________________ Lot/Unit ________________
1. I am the Seller/Buyer of the Property in the Real Estate Purchase Contract # ______________________________________________________
The conditions(s) in that Contract that I now unilaterally waive or have satisfied is (are):
__________________________________________________________________________________________________________________________
__________________________________________________________________________________________________________________________
__________________________________________________________________________________________________________________________
__________________________________________________________________________________________________________________________
__________________________________________________________________________________________________________________________
__________________________________________________________________________________________________________________________
__________________________________________________________________________________________________________________________
__________________________________________________________________________________________________________________________
__________________________________________________________________________________________________________________________
__________________________________________________________________________________________________________________________
__________________________________________________________________________________________________________________________
__________________________________________________________________________________________________________________________
__________________________________________________________________________________________________________________________
__________________________________________________________________________________________________________________________
2. All other provisions in the Contract remain in full force and effect.3. In this Notice, the singular shall be constituted as the plural where the context so requires.4. This Notice shall enure to the benefit and be binding upon my heirs, executors, administrators, successors and assigns.5. As per the Real Estate Purchase Contract, if a Notice has not been given to the other party before 9 p.m. on or before the stated
Condition Day, then the transaction is ended.
SIGNED in the presence of a witness, and DATED at ____________________________________________________________, Alberta at ________________
a.m./p.m. this ___________________ day of ________________________________________________________________________, ___________________.
_____________________________________________________ _____________________________________________________________________Seller/Buyer Witness
_____________________________________________________ _____________________________________________________________________Seller/Buyer Witness
If needed for commercial transactions:
Per: _____________________________________________________ _____________________________________________________________________Authorized Signing Officer(s) Witness
_____________________________________________________ _____________________________________________________________________Authorized Signing Officer(s) Witness
January 2004
PROPERTY INSPECTION SCHEDULEThis Schedule is attached to and forms part of the Residential Real Estate Purchase Contract # ____________________________
This Schedule is part of the Residential Real Estate Purchase Contract dated the __________________ day of
_____________________________________________, ______________, and is to be attached to that Contract as a Buyer’s Condition.
Between
__________________________________________________________________________________________________________ as Buyer(s)and
__________________________________________________________________________________________________________ as Seller(s)
Property Address ______________________________________________________________________________________________________
Legal Description ______________________________________________________________________________________________________
1. The Buyer will have the right to have a property inspection completed by a professional or otherwise qualified inspector.l The Seller agrees to provide access (within reason) to the Property for this purpose.l The inspection is at the Buyer's expense unless otherwise agreed to in writing.
2. If the property inspection identifies defects in the Property that are not acceptable to the Buyer, then the Buyer will have a valid reason notto give the "Notice" to waive/release the Condition.
3. Cosmetic items will not be considered a defect for the purposes of paragraph 2 above.
4. In the event the Buyer does not give the "Notice" to waive/release the Condition, the Seller is entitled to a copy of the complete inspectionreport.
l The Seller must request the inspection report no later than 9 p.m. on the second day following the Condition Day. l The Buyer must provide the inspection report no later than 9 p.m. on the second day following the day the Seller requests it.
5. In the event the Seller does not agree that the Buyer has a valid reason not to give the "Notice" to waive/release the Condition, then the Sellerand Buyer may pursue all available remedies.
Signed at _____________________________, Alberta, at ______a.m./p.m. this __________ day of _________________________, _________.
_________________________________________________ _____________________________________________________________Buyer Signature Witness
_________________________________________________ _____________________________________________________________Buyer Signature Witness
Signed at _____________________________, Alberta, at ______a.m./p.m. this __________ day of _________________________, _________.
_________________________________________________ _____________________________________________________________Seller Signature Witness
_________________________________________________ _____________________________________________________________Seller Signature Witness
January 2004
1. COUNTRY RESIDENTIAL ACREAGE The Seller warrants to the Buyer the following:
l Unless otherwise indicated below, the utilities, connectionsand equipment (including but not limited to charges forelectrical service, telephone service, water, roads andnatural gas or other fuel service) are fully paid for and arenot amortized. _____________________________________________________________________________
l The following contracts for utility service providers are tobe assumed by the Buyer. ____________________________________________________________________
l Water rights registered? q Yes q NoPriority #: ____________________________________
l Water rights included with the Property? qYes qNol Access to the Property: q publicly ownedq privately owned with access by agreement (describe) ____________________________________
l Electrical service available onto the Property?q Yes q No
l Cable service available onto the Property?q Yes q No
l Fuel supply: q Natural gas q Propane/LPG
q None q Other (describe) _____________
l Septic system?q Tank & field q Holding tankq None q Other (describe) _____________
l Water supply q Drilled well q Cistern q Municipal q Community coop q Other (describe) __________
l The Seller is providing the following well/water reports: Bacterial analysis q Yes q NoChemical analysis q Yes q NoFlow test q Yes q NoDriller’s report q Yes q No
2. RENTAL AGREEMENTPossession will be given subject to the terms of the RentalAgreement.If the Buyer is to assume a tenancy, then the Seller warrantsthe following to the Buyer:l Name of tenant(s) _____________________________
____________________________________________
l Written rental agreement exists. q Yesq NoIf yes, a copy will be provided to the Buyer.
l Move-in inspection report exists. q Yes q NoIf yes, a copy will be provided to the Buyer.
l Commencement date of the lease __________________
l Expiry or end date of the lease ____________________
l Renewal rights _________________________________
l Rent payable __________________________________
l Security deposit $ ______________________________
Date received _________________________________
l Rental agreement in default? q Yes q NoIf yes, give details ______________________________
l Other details ____________________________________________________________________________________________________________________________
3. MANUFACTURED/MOBILE HOME
If the Property includes a Manufactured/Mobile Home, then theSeller warrants the following to the Buyer:
l Make ________________________________________l Model & serial number __________________________
l Approximate year of manufacture (age)_____________________________________________
l C.S.A. number ______________________________________________________________________________
l Foundation? q Yes q No If yes, the construction details are _______________________________________________________________
l Is the land leased or owned? _____________________
l Written lease agreement exists. q Yes q No
If yes, a copy of the lease will be provided to the Buyer.
l Is a security deposit required? q Yes q No
l Amount of monthly pad rental $ ___________________l Fees for: - water $ _____________________________
- heat $_______________________________- gas $ _______________________________- basic cable/digital/satellite $__________________________________________________
l Are there any restrictions on occupancy? q Yes q No
If yes, explain _________________________________l Other details __________________________________
__________________________________________________________________________________________
PROPERTY SCHEDULEThis Schedule is attached to and forms part of the Real Estate Purchase Contract # _____________________________
_____________________________ _______________________________________________ ______________________________________________Date Seller’s Signature Buyer’s Signature
January 2004
RESIDENTIAL REAL ESTATE LISTING CONTRACTThis form was developed by the Alberta Real Estate Association for the use of its members and may not
be altered electronically by any person. Others who use this document do so at their own risk.
1.1 The Property is the Land and Buildings located at (municipal street address):______________________________________________________________
______________________________________________________________
______________________________________________________________
______________________________________________________________(postal code)
1.2 The legal description of the Property is:
Plan ______________________ Block ____________ Lot/Unit ___________
Other _________________________________________________________
If Condominium Property, legal description and details as per CondominiumProperty Appendix (attached).
1.3 The Property includes:(a) Goods not attached to the Land and Buildings (“Unattached Goods”) as
listed below:
_________________________________________________________
_________________________________________________________
_________________________________________________________
_________________________________________________________
_________________________________________________________
_________________________________________________________
_________________________________________________________
_________________________________________________________
_________________________________________________________
_________________________________________________________
(b) All goods attached to the Land and Buildings (“Attached Goods”) exceptthose goods listed below:
_________________________________________________________
_________________________________________________________
_________________________________________________________
_________________________________________________________
_________________________________________________________
_________________________________________________________
_________________________________________________________
2.1 Have you entered into any other listing contractfor the Property during the last twelve months? q Yes q No
2.2 Is the Property currently listed for sale withanother real estate brokerage? q Yes q No
3.1 You list the Property for sale with only the Brokerage(s) effective today until11:59 p.m. on __________________________________________________
______________________________________________ (the “Expiry Date”).
4.1 The Asking Price for the Property is $ _______________________________
______________________________________________________________
4.2 Will the buyer have to pay GST on the purchaseof the Property (land/lot/new or renovated home)? q Yes q No
5.1 The proposed Possession Date is __________________________________
______________________________________________________________
6.1 The Real Estate Commission (the “Commission”) is ____________________
______________________________________________________________
______________________________________________________ plus GST.
6.2 The Brokerage will offer ___________________________________________
______________________________________________________ plus GSTas compensation to other brokerages for finding a buyer.
7.1 All Deposits will be held in accordance with the terms of the signed PurchaseContract. The Deposits must be held in trust according to the Real Estate Act(Alberta).
7.2 You direct the Brokerage, the buyer’s brokerage or the lawyer who holds theDeposits to use the Deposits to pay any money owed under this Contract. AnyCommission or Alternate Compensation, plus GST, that has been earned byanother brokerage and is no longer required to be held in trust shall be paiddirectly out of a trust account by the party holding the Deposits.
7.3 You assign to the Brokerage enough of the purchase money or forfeitedDeposits to pay all money owed under this Contract. You agree not to revokethis assignment.
THE SELLER (“You”)
Name _________________________________________________________________
Name _________________________________________________________________
Address _______________________________________________________________
______________________________________________________________________(postal code)
Phone _______________________________ Fax ___________________________
Email _________________________________________________________________
THE SELLER’S BROKERAGE (the “Brokerage”)
Brokerage Name _________________________________________________________
___________________________________ Email ______________________________
Address _______________________________________________________________(postal code)
Phone _______________________________ Fax ___________________________
______________________________________________________________________Broker, associate broker or agent authorized to represent the Brokerage
Member of the ________________________________ Real Estate Board (the “Board”)
and
1. THE PROPERTY 2. OTHER LISTING CONTRACTS
3. TERM OF CONTRACT
4. ASKING PRICE
5. POSSESSION DATE
6. REAL ESTATE COMMISSION
7. DEPOSITS
# ______________________Listing Contract Number
This Contract is between
______________ Seller’s Initials ______________ Brokerage Representative’s Initials January 2004 The Alberta Real Estate Association Page 1 of 4
7.4 You direct your lawyer to pay all money owed under this Contract from thepurchase money or the forfeited Deposits held by your lawyer.
8.1 You authorize the Brokerage to obtain the following information:
l property tax search, local improvement assessment search and relatedinformation
l search of title
l condominium additional plan sheet, if condominium property
l a Mortgage Verification Statement containing the Mortgage Details setout in the Appendix
l any other Important Information as set out in the Appendix orCondominium Property Appendix.
8.2 Do you authorize the Brokerage to install and usea key box? q Yes q No
8.3 Do you authorize the Brokerage to install “FOR SALE” and “SOLD” signs? q Yes q No
8.4 Unless otherwise agreed in writing, only the Brokerage may advertise theProperty for sale.
9.1 You will provide the following Important Information to the Brokerage within ten(10) days of your signing this Contract and at your expense:
l a real property report reflecting the current state of improvements on theProperty, according to the Alberta Land Surveyors’ Manual of StandardPractice, with evidence of municipal compliance or non-conformance.Please Note: Not having a current real property report withcompliance may result in complications on closing or rescission ofthe purchase contract.
l if the Property is a residential resale condominium, the ImportantInformation as described in the Condominium Property Appendix(attached).
l if the Property includes a manufactured/mobile home, is rented or is acountry residential acreage, the Important Information described in theAppendix.
9.2 You hereby authorize the Brokerage to obtain the ImportantInformation on your behalf and at your expense. q Yes q No
Seller’s Initials ___________________
9.3 If the Property is encumbered by a mortgage, then:
Is the mortgage CMHC insured? q Yes q No
Will you allow the mortgage to be assumed? q Yes q No
9.4 Are you aware of any defects in the Property thatare not visible and are either structural in nature or a possible health hazard? q Yes q No
Seller’s Initials ___________________
10.1 You will pay the Commission to the Brokerage if, during the Term of theContract:
(a) the Property is sold, exchanged or otherwise disposed of by you oranyone else;
(b) a person contacts you directly or through a brokerage or inspects theProperty and the Property is then sold, exchanged or otherwise disposedof by you or anyone else to that person within 90 days after the ExpiryDate. This clause will not apply where you have signed another listingcontract after the Expiry Date and a real estate commission is payable toanother brokerage according to the terms of that other listing contract asa result of the sale or disposition;
(c) you have signed a Purchase Contract with a buyer who is willing and ableto complete the sale but you refuse to complete the sale; or
(d) a buyer is found who is willing and able to complete the sale upon theterms outlined in this Contract but you refuse to sign the PurchaseContract.
10.2 You will pay the Commission to the Brokerage no later than the secondbusiness day after the sale is completed, unless you and the Brokerageotherwise agree in writing. A sale is completed when the change in ownershipis registered at the Land Titles Office and the buyer pays the purchase moneyto you or your lawyer. Any holdbacks or conditions accepted by you or yourlawyer will not delay payment to the Brokerage.
10.3 You will pay Alternate Compensation to the Brokerage if a Purchase Contract
is signed but the buyer defaults and the Deposits are forfeited. This Alternate
Compensation will be the lesser of the Commission that would have been
payable had the sale been completed or 50% of the forfeited Deposits.
Alternate Compensation shall be payable upon the forfeiture of the Deposits.
10.4 If the Brokerage pays for the Important Information, you will repay the
Brokerage promptly upon demand.
10.5 In addition, you will pay GST, where applicable, to the Brokerage on the
Commission or on any Alternate Compensation due under this Contract.
10.6 You will make your best efforts to insure the Property and its contents against
loss or damage due to perils that are normally insured against for similar
properties. This insurance will be effective even when the Property is vacant.
10.7 You will make reasonable efforts to cooperate with the Brokerage and any
other brokerages.
10.8 You will immediately inform the Brokerage of any relevant changes respecting
the Property or its ownership that may occur after this Contract is signed.
11.1 The Brokerage:
l will make reasonable efforts to find a buyer for the Property.
l will market the Property through the Multiple Listing Service (MLS)
operated by the Board.
l will not discourage any person who is an industry member as defined in
the Real Estate Act (Alberta) and who is not a member of the Board from
attempting to sell the Property, unless you otherwise instruct the
Brokerage in writing.
l will pay any Commission, Alternate Compensation and GST that are
payable to another brokerage.
8. THE BROKERAGE’S AUTHORITY
9. IMPORTANT INFORMATION
10. DUTIES OF THE SELLER
11. DUTIES OF THE BROKERAGE
______________ Seller’s Initials ______________ Brokerage Representative’s InitialsPage 2 of 4
# ______________________Listing Contract Number
12.1 You now encumber all of your interest in the Land, Buildings and AttachedGoods for the benefit of the Brokerage to secure payment of all money whichmay be owed by you to the Brokerage under this Contract. The parties agreethat the Brokerage is entitled to encumber the Land in accordance with theLand Titles Act (Alberta). You now authorize the Brokerage to file and maintaina caveat to give notice of this encumbrance.
12.2 If the Brokerage successfully enforces any of its rights or remedies under thissection, you will pay reasonable lawyer and client legal fees and costs incurredby the Brokerage.
12.3 If you owe money under this Contract and the Brokerage does not wish toenforce this Contract against you, then upon mutual agreement between theBrokerage and the buyer’s brokerage, the Brokerage may assign this Contractto the buyer’s brokerage. If this Contract is assigned, then the buyer’sbrokerage may enforce this Contract against you to collect the portion of theCommission or Alternate Compensation, plus GST, to which the buyer’sbrokerage is entitled, and the buyer’s brokerage will have the same rights andsecurity given to the Brokerage according to Section 12 of this Contract.
13.1 You warrant the following:
l You have the legal authority to sell the Property subject to any dower
rights.
l You have a right to sell the Unattached Goods listed in clause 1.3(a).
l The goods attached to the Land and Buildings and the included
Unattached Goods listed in clause 1.3 are free and clear of financial
encumbrances.
l Where applicable, you have complied with the bylaws of theCondominium Corporation.
13.2 You warrant that, to the best of your knowledge, the following is truthfuland accurate:
l You have disclosed all information necessary to truthfully and accuratelymarket the Property, including any environmental problems.
l The current use of the Land complies with the existing municipal land usebylaw.
l The Buildings and other improvements on the Land are not placed partlyor wholly on any easement or utility right-of-way and are entirely on theLand and do not encroach upon neighbouring lands, except where anencroachment agreement is in place.
l The location of Buildings and other improvements on the Land complieswith all relevant municipal bylaws, regulations or relaxations granted bythe appropriate municipality prior to Completion Day, or the Buildings andother improvements on the Land are “non-conforming buildings” as thatterm is defined in the Municipal Government Act (Alberta).
14.1 This Contract will automatically end if the Brokerage:
l has had its licence to trade in real estate suspended or cancelled underthe Real Estate Act (Alberta).
l ceases to be a member in good standing of a real estate board.
l is bankrupt, insolvent, or in receivership.
14.2 Where a party to this Contract has breached a part of this Contract, the otherparty may end this Contract by notice in writing to the party in breach.
14.3 You and the Brokerage may enforce parts of this Contract even if this Contracthas ended or expired.
15.1 This Contract is for the benefit of and will be binding upon the heirs,administrators, executors, successors and assigns of the parties.
15.2 All changes of number and gender will be made where required.
15.3 This Contract is a Seller’s Brokerage Agreement for the purposes of the RealEstate Act (Alberta).
15.4 This Contract will be governed by the laws of the Province of Alberta. Theparties submit to the jurisdiction of the Courts in the Province of Alberta in anydispute that may arise out of this transaction.
16.1 This Contract creates binding legal obligations. You are encouraged toobtain legal advice before signing.
16.2 If a CMHC insured mortgage is to be assumed, you should seek legaladvice.
16.3 The Seller acknowledges that the Brokerage is being retained as a realestate broker, not as a lawyer, tax advisor, lender, appraiser, surveyor,structural engineer, property inspector, or other professional serviceprovider.
16.4 The Seller consents to the collection, use and disclosure of personalinformation by the Brokerage for the purpose of listing and marketingthe Property including, but not limited to:
(a) listing and advertising the Property using any medium includingelectronic media, photographs and video;
(b) disclosing Property information to prospective buyers, brokers,agents and others who may assist in the sale of the Property;
(c) such other use of the Seller's personal information as is consistentwith listing and marketing of the Property.
16.5 The Seller consents to placement of the listing information and any saleinformation by the Brokerage into the database(s) of the appropriateMLS® system(s) and acknowledges that the MLS® database is theproperty of the Board(s) and can, during or after the termination or expiryof this listing, be licensed, resold or otherwise dealt with by the Board(s).The Seller further acknowledges that the Board(s) may:
(a) distribute the information to any persons authorized to use suchservice which may include other brokers, government departments,appraisers, municipal organizations and others;
(b) market the Property, at its option, in any medium, includingelectronic media;
(c) compile, retain and publish any statistics including historical MLS®data which may be used by licensed board members to conductcomparative market analyses; and
(d) make such other use of the information as the Board deemsappropriate in connection with the listing, marketing and selling ofreal estate.
12. SECURITY FOR THE BROKERAGE’S FEES
13. SELLER’S WARRANTIES
14. ENDING THE CONTRACT
15. ADDITIONAL TERMS
16. ADVICE TO THE SELLER
______________ Seller’s Initials ______________ Brokerage Representative’s InitialsPage 3 of 4
# ______________________Listing Contract Number
17.1 You, the Seller, have entered into an agency relationship under common lawwith the Brokerage, including its broker, all its associate brokers and agents(collectively referred to as the Seller’s Agent). A brokerage, its broker,associate brokers and agents representing a buyer are referred to as theBuyer’s Agent.
17.2 The Seller’s Agent is obligated to protect and promote your interests.Specifically, the Seller’s Agent owes you the fiduciary duties of loyalty,obedience, confidentiality, reasonable care and skill, full disclosure and fullaccounting.
17.3 You, as the Seller, and potential buyers may be represented by differentbrokerages (the Seller’s Agent and the Buyer’s Agent). Each of these Agentsowes its client the full fiduciary duties listed above. Other brokeragesrepresenting buyers will not have a fiduciary relationship with you.
17.4 Dual Agency occurs when one brokerage (the Dual Agent), trading in realestate from one or more locations, represents both you and one or more buyerswith respect to the potential purchase of the Property. In such circumstances,the described fiduciary duties are limited as follows:
The Dual Agent:
(a) will not, without prior written authority, disclose:
(i) to a buyer that you will accept a price less than the asking price (ora countered selling price),
(ii) to you that a buyer will pay a price higher than the price offered,
(iii) to a buyer the reason that you are selling,
(iv) to you the reason that a buyer is buying, and
(v) to a buyer the terms and conditions of competing offers;
(b) except as set out in (a), will owe no duty of confidentiality and willdisclose to you and a buyer all facts known that materially affect or maymaterially affect the marketability or value of the Property.
17.5 The Seller authorizes the Seller’s Agent to act as a Dual Agent accordingto the terms of this section.
18.1 This Contract may be signed by the parties and transmitted by fax. Thisprocedure will be as effective as if the parties had signed and delivered anoriginal copy.
This Contract is made effective _________________________________________
_____________________________________________, ____________________.
_________________________________ ________________________________Signature of Seller Signature of Witness
_________________________________ ________________________________Print Name of Seller Print Name of Witness
_________________________________ ________________________________Signature of Seller Signature of Witness
_________________________________ ________________________________Print Name of Seller Print Name of Witness
__________________________________________________________________Signature of broker, associate broker or agent authorized to sign on behalf of the Brokerage
Seller: Initial here to show you have received a copy of this Contract. _________________________________
Dower consent may be required for this Listing Contract to be binding if Title is inonly one name and the registered owner is legally married.
IMPORTANT INFORMATION (as per clause 9.1)
Mortgage Details (Mortgage Verification Statement):
• Name of lender • Is there a tax account?• Principal balance owing with • Is approval to assume the
per diem interest loan required?
• Interest rate • Maturity date
• Amount of payment and • Is the loan CMHC insured? frequency
• Any other relevant details
Country Residential Acreage Details:• Utilities, connections & equipment (including but not limited to charges for
electrical service, telephone service, water, roads and natural gas or otherfuel service) are fully paid for and are not amortized. ____________________
• Utility contracts for utility service providers are to be assumed by the buyer.______________________________________________________________
• Water rights registered? q Yes q No Priority # ________________• Water rights included with Property? q Yes q No• Access to Property: q publicly owned
q privately owned with access by agreement • Electrical service available onto the Property? q Yes q No• Cable service available onto the Property? q Yes q No• Fuel supply: q natural gas q propane/LPG
q none q other ____________________________• Septic system: q tank & field q holding tank
q none q other ____________________________• Water supply: q drilled well q cistern q municipal
q community coop q other ________________________• You are providing the following well/water reports:
- bacterial analysis q Yes q No - chemical analysis q Yes q No- flow test q Yes q No - driller’s report q Yes q No
Rental Agreement Details:• Name of the tenant ______________________________________________• Written rental agreement exists? q Yes (copy to buyer) q No• Move-in inspection report exists? q Yes (copy to buyer) q No• Commencement date of lease _____________________________________• Expiry or end date of lease _______________________________________• Does the tenant have any right to renew the rental agreement?q Yes q No• What is the rent? _______________________________________________
• If there is a security deposit, how much is it and when was it last paid?_____________________________________________________________
• Is there a property management contract? q Yes q No• Is the tenant in possession? q Yes q No• Is the rental agreement in default? q Yes q No• Any other relevant details
Manufactured/Mobile Home Details:• Make ________________________ • Model/serial number _____________• Year of manufacture (age) ________________________________________• C.S.A. number _________________________________________________• Construction details of any foundation _______________________________• Is the land leased or owned? q leased q owned• Written lease agreement exists. q Yes (copy to buyer) q No• Is a security deposit required? q Yes q No• Monthly pad rental $ _____________________________________________• Fees for: water $________________ heat $__________________________
gas $_________________ cable/digital/satellite $_____________• Any occupancy restrictions? q Yes q No• Any other relevant details
17. AGENCY DISCLOSURE/ACKNOWLEDGMENT
18. SIGNATURES
APPENDIX
Page 4 of 4
# ______________________Listing Contract Number
1.1 The Property is the Land, Buildings, Attached Goods (unless excluded) andincluded Unattached Goods located at (municipal address): _______________
______________________________________________________________
1.2 The legal description of the Property is:
Plan ______________________ Block _______________ Lot/Unit _________
Other _________________________________________________________
______________________________________________________________
______________________________________________________________
If Condominium Property, details as described in Condominium PropertySchedule (attached).
1.3 No Unattached Goods (chattels) except for: __________________________
______________________________________________________________
______________________________________________________________
______________________________________________________________
______________________________________________________________
______________________________________________________________
______________________________________________________________
______________________________________________________________
______________________________________________________________
______________________________________________________________
______________________________________________________________
______________________________________________________________
______________________________________________________________
______________________________________________________________
1.4 All Attached Goods (fixtures) except for: _____________________________
______________________________________________________________
______________________________________________________________
______________________________________________________________
______________________________________________________________
______________________________________________________________
1.5 Unless otherwise agreed in writing, title will be free and clear of allencumbrances, registrations and obligations except the following:
(a) those implied by law;
(b) non-financial obligations now on title such as easements, utility rights-of-way, covenants and conditions that are normally found registered againstproperty of this nature and which do not affect the saleability of theProperty;
(c) homeowners association caveats, encumbrances and similarregistrations; and
(d) those items which the Buyer agreed to assume in this Contract.
2.1 The Buyer and the Seller agree to act cooperatively, reasonably, diligently andin good faith.
2.2 Other than the Deposits, the Buyer shall pay the Purchase Price by certifiedcheque, lawyer's trust cheque, bank draft or other agreed value as follows:
$ __________________________________ Initial Deposit
$ __________________________________ Additional Deposit
$ __________________________________ Assumption of Mortgage(approximate principal balance)
$ __________________________________
$ __________________________________ New Financing
$ __________________________________ Seller Financing(as per attached Financing Schedule)
$ __________________________________ Other Value
$ __________________________________ Balance Owing(subject to adjustments)
$ __________________________________ Purchase Price
Unless otherwise agreed in writing, the Purchase Price includes any applicable Goods and Services Tax (GST).
3.1 All Deposits shall be delivered in trust to _____________________________
______________________________________________________________.
Unless otherwise agreed in writing, the Initial Deposit shall accompany the offer.
______________________________________________________________
3.2 The Initial Deposit shall be deposited no later than the second Business Dayfollowing the day that final signing occurred (as per clause 15.1). AdditionalDeposits shall be deposited no later than the second Business Day followingthe day the Additional Deposit is received by the brokerage.
3.3 Any Additional Deposits shall be delivered as follows: ___________________
______________________________________________________________
3.4 Unless otherwise agreed in writing, no interest on the Deposits shall be paid tothe Seller or the Buyer. ___________________________________________
_______________________________________________________________
RESIDENTIAL REAL ESTATE PURCHASE CONTRACTThis form was developed by the Alberta Real Estate Association for the use of its members and may not
be altered electronically by any person. Others who use this document do so at their own risk.
This Contract is between
THE SELLER
Name _____________________________________________________________
Name _____________________________________________________________
THE BUYER
Name _____________________________________________________________
Name _____________________________________________________________
and
1. THE PROPERTY
______________ Seller’s Initials ______________ Buyer’s Initials January 2004 The Alberta Real Estate Association Page 1 of 4
2. THE TRANSACTION
3. DEPOSITS
# _________________________Purchase Contract Number
3.5 The Deposits shall be held in trust for both the Seller and the Buyer and shallbe:
(a) applied against the Commission (as defined in the Residential Real EstateListing Contract or any other commission agreement signed by the Seller)and paid directly out of trust to the brokerage(s) when the Commission isearned in accordance with the terms of the Listing Contract or any othercommission agreement signed by the Seller;
(b) refunded forthwith to the Buyer if this offer is not accepted;
(c) refunded forthwith to the Buyer upon the Buyer’s cheque clearing thebrokerage’s trust account if a condition is not satisfied or waived (as perclause 8.4) or the Seller fails to perform this Contract; and
(d) forfeited to the Seller if this offer is accepted and all conditions aresatisfied or waived and the Buyer fails to perform on this Contract.
3.6 The brokerage holding the Deposits is further directed and authorized to paythat portion of the Deposits exceeding the Commission in trust to the Seller'slawyer no later than two (2) Business Days prior to the Completion Day.
3.7 If there is a dispute between the Seller and the Buyer as to entitlement to theDeposits then:
(a) the brokerage holding the Deposit shall review the circumstances,determine entitlement and pay the money to the party who is entitled to theDeposit;
(b) if no reasonable conclusion can be made in regard to (a) above, thebrokerage shall notify the parties to the Contract in writing and shall paythe money into a lawyer's trust account;
(c) the parties agree to allow the lawyer or the brokerage to deduct from theDeposit a reasonable fee and costs incurred for dealing with the Deposit;
(d) a brokerage and/or lawyer acting in good faith under this clause shall notbe liable to either party for any damages associated with the handling ofthe Deposit, except arising from the negligence of the brokerage or lawyer.
4.1 Unless otherwise agreed in writing, this Contract will be completed, thePurchase Price will be fully paid and vacant possession will be available by:
noon on the _______________________________________________ day of
__________________________________________________, ___________,
(the "Completion Day"), subject to the rights of the existing tenants, if any.
When the Buyer obtains possession, the Property will be in substantially thesame condition as it was in when this Contract was accepted.
4.2 Items which are normally adjusted for, such as real estate taxes, amortizedlocal improvement levies, utilities, rents, security deposits, statutory interest onsecurity deposits, mortgage interest, homeowners association fees andmonthly condominium contributions, will be assumed by the Buyer and will beadjusted as of 24:00 hours on the Completion Day.
4.3 The Seller and the Seller's lawyer will deliver normal closing documents to theBuyer or the Buyer's lawyer upon reasonable conditions consistent with theterms of this Contract. The Buyer must have a reasonable period of time beforethe Completion Day to confirm registration of documents at the Land TitlesOffice and to obtain the advance of proceeds for any New Financing and OtherValue.
4.4 If the Seller fails to deliver the closing documents according to clause 4.3, thenpayment of the Purchase Price and Interest will be postponed until the Buyerhas received the closing documents and has a reasonable period of time toregister them.
4.5 If the Buyer has not paid all of the Purchase Price, then the Seller may give theBuyer possession upon reasonable terms.
4.6 If the Seller agrees in writing to accept late payment of the Purchase Price,then the Buyer will pay Interest to the Seller calculated daily from and includingthe Completion Day to (but excluding) the day the Seller is paid in full. Paymentreceived after noon on any day will be payment as of the next Business Day.Interest means the prime lending rate of the Province of Alberta TreasuryBranches at the Completion Day plus 3%.
4.7 The Seller's lawyer may use the Purchase Price to pay out all mortgages,condominium contributions, registrations and other financial obligations thatare the Seller's obligation to pay or discharge. Within a reasonable period oftime after the Completion Day, the Seller's lawyer will provide the Buyer'slawyer with evidence of all discharges including, where required, a certifiedcopy of the certificate of title and an Estoppel Certificate evidencing thepayment of all condominium contributions that are the Seller’s obligation to pay.
4.8 The Seller will pay the costs to prepare the closing documents; to prepare,register and discharge any Seller's caveat based on this Contract; and toprovide the documents described in clause 4.11.
4.9 The Buyer will pay the costs to prepare, register and discharge any Buyer'scaveat based on this Contract; and to register the transfer of land.
4.10 If the Property is rented and the Buyer is not assuming the tenancy, then theSeller is responsible for all costs related to ending the tenancy and to givingvacant possession to the Buyer.
4.11 At least ten (10) Business Days prior to the Completion Day, the Seller willprovide the Buyer, regarding the matters described in clause 6.1, a realproperty report reflecting the current state of improvement on the Property,according to the Alberta Land Surveyors’ Manual of Standard Practice, withevidence of municipal compliance or non-conformance. This obligation will notapply to condominium units that do not create a lot or will not apply to anytransaction where there are no improvements on the land.
4.12 Notwithstanding the closing provisions in this Contract, the parties authorizetheir lawyers to follow, if appropriate, the Law Society of Alberta ConveyancingProtocol in the closing of this transaction.
5.1 The risk of loss or damage to the Property shall lie with the Seller until thePurchase Price is paid according to the terms of this Contract. If loss ordamage to the Property occurs before the Seller is paid the Purchase Price,then any insurance proceeds shall be held in trust for the Buyer and the Selleraccording to their interests in the Property.
6.1 The Seller represents and warrants to the Buyer that:
(a) the Seller has the legal right to sell the Property;
(b) the Attached Goods and included Unattached Goods are in normalworking order and are free and clear of all encumbrances;
(c) the Seller is not a non-resident of Canada for the purposes of the IncomeTax Act (Canada);
(d) the current use of the Land complies with the existing municipal land usebylaw;
(e) the Buildings and other improvements on the Land are not placed partly orwholly on any easement or utility right-of-way and are entirely on the Landand do not encroach on neighbouring lands, except where anencroachment agreement is in place;
(f) the location of Buildings and other improvements on the Land complieswith all relevant municipal bylaws, regulations or relaxations granted bythe appropriate municipality prior to the Completion Day, or the Buildingsand other improvements on the Land are "non-conforming buildings" asthat term is defined in the Municipal Government Act (Alberta); and
(g) $_________________ is the current monthly condominium contributionpayable (fee for administrative and other expenses).
6.2 All of the warranties contained in this Contract and any attached Schedules aremade as of and will be true at the Completion Day, unless otherwise agreed inwriting.
5. INSURANCE
4. CLOSING
6. WARRANTIES AND REPRESENTATIONS
______________ Seller’s Initials ______________ Buyer’s InitialsPage 2 of 4
# _________________________Purchase Contract Number
6.3 The representations and warranties in this Contract may be enforced after theCompletion Day, provided that any legal action is commenced within the timelimits prescribed by the Limitations Act (Alberta).
6.4 The Seller and the Buyer each acknowledge that, except as otherwisedescribed in this Contract, there are no other warranties, representations orcollateral agreements made by or with the other party, the Seller's brokerageand the Buyer's brokerage about the Property, any neighbouring lands, and thistransaction, including any warranty, representation or collateral agreementrelating to the size/measurements of the Land and Buildings or the existenceor non-existence of any environmental condition or problem.
7.1 All time periods, deadlines and dates in this Contract shall be strictly followedand enforced. All times will be Alberta time unless otherwise stated.
7.2 This Contract is for the benefit of and shall be binding upon the heirs,executors, administrators and assigns of the individual parties and thesuccessors and assigns of corporate parties.
7.3 All changes of number and gender shall be made where required.
7.4 This Contact will be governed by the laws of the Province of Alberta. Theparties submit to the jurisdiction of the Courts in the Province of Alberta in anydispute that may arise out of this transaction.
7.5 The Schedules form part of this Contract:
q Financing Schedule q Property Schedule
q Addendum q Condominium Property Schedule
7.6 Additional terms of sale (if any): ____________________________________
______________________________________________________________
______________________________________________________________
______________________________________________________________
______________________________________________________________
______________________________________________________________
______________________________________________________________
8.1 The Buyer's Conditions are:
(a) Financing Condition
The Buyer will apply and be approved for New Financing as follows:
l as per clause 2.2 (plus applicable mortgage insurance fee, if any)
l interest rate not to exceed __________ percent a year calculatedsemi-annually not in advance
l a term of not less than ______________________________ years
Monthly payment of principal and interest not to exceed $ ___________
_________________________________________________________
(including mortgage insurance fee, if applicable) for an amortization of25 years.
The Buyer will pay for all costs associated with the New Financing.
Before 9 p.m. on ___________________________________________(the "Condition Day").
(b) Property Inspection Condition
This Contract is subject to the Buyer's approval of a Property Inspection,as per attached Property Inspection Schedule. q Yes q No
Before 9 p.m. on ___________________________________________(the "Condition Day").
(c) Condominium Documents Condition
This Contract is subject to the Buyer's Condition regarding CondominiumDocuments, as per attached Condominium Property Schedule.q Yes q No
Before 9 p.m. on ___________________________________________(the "Condition Day").
(d) Sale of Buyer’s Home Condition
This Contract is subject to the sale of the Buyer's home, as per attachedSale of Buyer's Home Schedule. q Yes q No
Before 9 p.m. on ___________________________________________(the "Condition Day").
(e) Additional Buyer's Conditions: _______________________________
__________________________________________________________
__________________________________________________________
__________________________________________________________
__________________________________________________________
__________________________________________________________
__________________________________________________________
__________________________________________________________
__________________________________________________________
__________________________________________________________
__________________________________________________________
__________________________________________________________
__________________________________________________________
Before 9 p.m. on ____________________________________________(the "Condition Day").
8.2 The Seller's Conditions are: _____________________________________
______________________________________________________________
______________________________________________________________
______________________________________________________________
______________________________________________________________
______________________________________________________________
Before 9 p.m. on ________________________________________________(the "Condition Day").
8.3 Unless otherwise agreed in writing, the Buyer's Conditions are for the solebenefit of the Buyer and the Seller's Conditions are for the sole benefit of theSeller.
8.4 The Buyer and the Seller may unilaterally waive or satisfy their Conditions bygiving a Notice to the other party (the "Notice") on or before the statedCondition Day.
8.5 Provided that the Buyer or the Seller, as the case may be, uses reasonableefforts to satisfy the Condition(s), if the Notice has not been given on or beforethe stated Condition Day, then this Contract is ended.
9.1 If the Seller or the Buyer fails or refuses to complete this Contract according toits terms, then the other party may pursue all available remedies. The Seller'sremedies include keeping the Deposits and claiming additional damages. Boththe Seller and the Buyer can claim reasonable costs including legal fees anddisbursements on a solicitor/client full indemnity basis.
9.2 If the Seller must restore title to the Property, enforce a lien against theProperty or regain possession of the Property due to the Buyer's default, thenthe Buyer will pay the Seller's reasonable costs including legal fees anddisbursements on a solicitor/client full indemnity basis.
7. ADDITIONAL TERMS
8. CONDITIONS
9. REMEDIES/DISPUTES
______________ Seller’s Initials ______________ Buyer’s InitialsPage 3 of 4
# _________________________Purchase Contract Number
10.1 This Contract is intended to create binding legal obligations. The Sellerand the Buyer should read this Contract carefully and are encouraged toobtain legal advice before signing.
10.2 The Buyer may wish to obtain an independent property inspection andverify the measurements of the Property.
10.3 Unless there is a dual agency or another written agreement, the Seller'sbrokerage represents the Seller as Seller's Agent and does not have afiduciary relationship with the Buyer, and the Buyer's brokeragerepresents the Buyer as Buyer's Agent and does not have a fiduciaryrelationship with the Seller.
10.4 The Seller and the Seller's brokerage have signed a Listing Contract. TheSeller directs the Seller's lawyer to honour the terms of the ListingContract and in particular to close the transaction according to theirrevocable assignment of the Purchase Price contained in the ListingContract.
10.5 The Buyer and Seller agree that the sale and other related informationregarding this transaction may be retained and disclosed by thebrokerage and/or the real estate boards(s) as required for closing and forreporting, appraisal and statistical purposes.
10.6 This Contract may be signed and sent by fax and this procedure will beas effective as signing and delivering an original copy.
11.1 In this Agreement:(a) Business Day means a day when both the Land Titles Office and the
Schedule I chartered banks are open for business.(b) Buyer's Agent means the licensed brokerage (including its broker, all
associate brokers and agents) who represents the Buyer.(c) Commission means the sum owing from the Seller for services rendered
under the Listing Contract plus GST.(d) Completion Day is the day described in clause 4.1.(e) Deposits mean the Initial Deposit plus all Additional Deposits.(f) Seller's Agent means the licensed brokerage (including its broker, all
associate brokers and agents) who represents the Seller.(g) Unless otherwise agreed in writing means a written agreement by letter
or otherwise between the Seller or the Seller's lawyer and the Buyer or theBuyer's lawyer.
Note: This section must be completed at the offer stage prior to the Contractbeing signed.12.1 The Representatives identified in clause 12.2 represent the Seller and the
Buyer. 12.2 For the purposes of giving and receiving any notice referred to in this Contract,
and for acceptance of an offer to purchase, communication must be in writingand must be delivered to the address or faxed to the number described below.A notice sent or received by a Representative is proper notice for thepurposes of this Contract.
Seller's Information:
Seller's Address ________________________________________________
______________________________________________________________(postal code)
Phone ____________________________ Fax ________________________
Seller's Representative:
______________________________________________________________Broker, associate broker or agent registered to the brokerage
Brokerage Name ________________________________________________
Brokerage Address ______________________________________________
______________________________________________________________(postal code)
Phone ____________________________ Fax ________________________
Buyer's Information:
Buyer's Address ________________________________________________
______________________________________________________________(postal code)
Phone _____________________________ Fax _______________________
Buyer's Representative:
______________________________________________________________Broker, associate broker or agent registered to the brokerage
Brokerage Name ________________________________________________
Brokerage Address ______________________________________________
______________________________________________________________(postal code)
Phone ______________________________ Fax ______________________
13.1 The Buyer offers to buy the Property for the Purchase Price according to theterms of this Contract.
13.2 This offer / counter offer shall be open for acceptance in writing until
___________.m. on __________________________________, __________.
SIGNED AND DATED at ______________________________________, Alberta at
__________.m. on the ___________ day of _______________________, _______.
_________________________________ ______________________________Buyer Witness
_________________________________ ______________________________Print Name of Buyer Print Name of Witness
_________________________________ ______________________________Buyer Witness
_________________________________ ______________________________Print Name of Buyer Print Name of Witness
14.1 The Seller accepts the Buyer's offer and agrees to sell the Property for thePurchase Price according to the terms of this Contract.
SIGNED AND DATED at ______________________________________, Alberta at
__________.m. on the ___________ day of _______________________, _______.
_________________________________ ______________________________Seller Witness
_________________________________ ______________________________Print Name of Seller Print Name of Witness
_________________________________ ______________________________Seller Witness
_________________________________ ______________________________Print Name of Seller Print Name of Witness
15.1 Final signing of this Contract occurred at ____________________ .m. on _______________________________________________, __________.
Initials of the person(s) who signed last ________________________
Seller's Lawyer ______________________________________________________
Lawyer's Address ____________________________________________________(postal code)
Lawyer's Phone ___________________________ Fax ______________________
Buyer's Lawyer ______________________________________________________
Lawyer's Address ____________________________________________________(postal code)
Lawyer's Phone ___________________________ Fax ______________________
10. ADVICE/DISCLOSURE
12. REPRESENTATIVES/NOTICE
Page 4 of 4
11. DEFINITIONS
13. OFFER
14. ACCEPTANCE
15. FINAL SIGNING
CONVEYANCING
# _________________________Purchase Contract Number
SALE OF BUYER’S HOMEThis Schedule is attached to and forms part of the Residential Real Estate Purchase Contract # ____________________________
1. The Buyer owns land (the Buyer’s Home) described as:
Municipal address: ________________________________________________________________________________________________
________________________________________________________________________________________________________________
Legal description: Plan ____________________________________ Block _______________________ Lot/Unit ____________________
Legal LegalCondominium Plan(s) ________________________________________ Unit No.(s) ______________ Parking Unit(s) ________________
Other ___________________________________________________________________________________________________________
2. The Buyer's Home is listed (or will be listed within 24 hours of acceptance of this Contract) with:
________________________________________________________________________________________________________________
________________________________________________________________________________________________________________
at an asking price of (or not more than) $ ______________________________________________________________________________
3. "Sell the Buyer's Home" means the Buyer has signed a legally binding and enforceable contract and that all conditions have been eithersatisfied or waived by a properly given notice.
4. The Seller's brokerage will continue to market the Property and the Seller may sign another Real Estate Purchase Contract (the "SecondContract") until the Buyer gives notice (the "Notice") that all conditions have been satisfied or waived according to the Purchase Contract.
5. The Second Contract may contain a Buyer's Condition(s).
6. If the Seller signs the Second Contract, then:
- the Seller will give notice (the Seller's Notice) to the Buyer; and- within _______________ hours of receiving the Seller's Notice, the Buyer must give a Buyer's Notice waiving, as per the Contract,
all of the Buyer's Conditions contained in this Purchase Contract.
7. If the Buyer gives the Buyer's Notice properly, according to the Purchase Contract, then this Contract will be enforceable and will be completedaccording to its terms.
8. If the Buyer fails to give the Buyer's Notice properly, then this Contract is ended, the Deposits must be returned to the Buyer as soon asreasonably possible and the Buyer and the Seller will have no further obligations or liabilities under this Contract.
Dated at ______________________________, Alberta this _______________ day of ________________________________, _____________.
_________________________________________________ _____________________________________________________________Buyer Witness
_________________________________________________ _____________________________________________________________Buyer Witness
_________________________________________________ _____________________________________________________________Seller Witness
_________________________________________________ _____________________________________________________________Seller Witness
January 2004
SELLER’S NOTICE/BUYER’S NOTICEFor Use With “Sale of Buyer’s Home” Schedule
TO: _____________________________________________________________________________________________________ (Buyer)
FROM: _____________________________________________________________________________________________________ (Seller)
RE: ___________________________________________________________________________________________ (Municipal Address)
____________________________________________________________________________________________ (Legal Description)
The Residential Real Estate Purchase Contract # __________________________ accepted the _________________ day of____________________________________________________________________________________, _________________ (the "Contract").
I/We have accepted another Residential Real Estate Purchase Contract (the "Second Contract") regarding the Property. You have_________________ hours from receipt of this Seller's Notice to waive all of the Buyer's Conditions in the Purchase Contract.
If you do not give the Notice within the agreed time, then the Purchase Contract # ___________________________ is ended, the Deposits mustbe returned to you as soon as reasonably possible and neither of us will have any further obligations or liabilities under the Contract.
_______________________________________________________ _____________________________________________________________________Seller Witness
_______________________________________________________ _____________________________________________________________________Seller Witness
The Seller signed at _______________. m on _____________________________________________________________, ________________.
I/We waive all of the Buyer's Conditions in the Purchase Contract # _____________________________________________________________
____________________________________________________________________________________________________________________
____________________________________________________________________________________________________________________
____________________________________________________________________________________________________________________
___________________________________________________________________________________________________________________
_______________________________________________________ _____________________________________________________________________Buyer Witness
_______________________________________________________ _____________________________________________________________________Buyer Witness
The Buyer signed at _______________. m on _____________________________________________________________, ________________.
OR
I/We agree that the Contract is ended and that you, the Seller, are free to proceed to complete the Second Contract.
_______________________________________________________ _____________________________________________________________________Buyer Witness
_______________________________________________________ _____________________________________________________________________Buyer Witness
The Buyer signed at _______________. m on _____________________________________________________________, ________________.
Notice must be given as described in clause 12.2 of the Purchase Contract.January 2004
SELLER’S NOTICE
BUYER’S NOTICE
The Agency RelationshipREALTORS work within a legal relationshipcalled agency. The agency relationship existsbetween you, the Client, and the brokerage, yourAgent.The essence of the agency relationship is that theAgent has the authority to represent the Client indealings with others. Agents are obligated toprotect and promote the interests of their clients asthey would their own. Specifically, the Agent hasthe following fiduciary duties:(1) Loyalty. The Agent must protect the Client’s
negotiating position at all times, and discloseall known facts which may affect or influencethe Client’s decision.
(2) Obedience. The Agent must obey all lawfulinstructions of the Client.
(3) Confidentiality. The Agent has an obligationto keep the confidences of the Client.
(4) Reasonable care and skill in performing allassigned duties.
(5) Full disclosure of information that mightaffect the value of the property.
(6) Full accounting for all money and propertyplaced in the Agent’s hands while acting forthe Client.
You can expect competent service from yourAgent, knowing that the brokerage is bound byethics and the law to be honest and thorough inevery real estate transaction.This approach is reflected in the standard realestate contracts produced by the Alberta RealEstate Association. Please feel free to ask yourREALTOR to show you the contracts appropriateto your real estate transaction.The Client, as well, has duties towards the Agent.(1) You have the duty to compensate the Agent for
the expenses that the Agent incurs as a resultof carrying out the Agent's responsibilities.
(2) You have the duty to pay the agreed-uponremuneration or compensation as outlined inthe signed contract.
In addition, you have a duty to disclose materialfacts to the Third Party in the real estatetransaction.
Single Agency occurs when both Buyer and Seller(Landlord and Tenant) are represented by theirown Agent in a real estate transaction. Each Agentowes full fiduciary duties to its own Client.
Client(Seller or Landlord)
Single AgencyBrokerage Brokerage
A broker, associate broker,
or agent
A broker, associate broker,
or agent
Client(Buyer or Tenant)
In real estate sales, the Dual Agent:
(a) will not, without prior written permissionof the applicable Client, disclose to theother Client(s):
(i) that the Seller will accept a price lessthan the asking price (or a counteredselling price),
(ii) that the Buyer will pay a price higherthan the price offered,
(iii) the reason the Seller is selling and theBuyer is buying, and
(iv) the terms and conditions ofcompeting offers.
(b) will disclose to both parties all facts knownto the Dual Agent that materially affect ormay materially affect the marketability orvalue of the property.
In leasing transactions, the Dual Agent:
(a) will not, without prior written permissionof the applicable Client, disclose to theother Client(s):
(i) that the Landlord will accept a pricelower than the asking rate (or acountered asking rate),
(ii) that the Tenant will pay a price higherthan the rate offered,
(iii) the reason the Landlord is leasing andthe Tenant is seeking to lease, and
(iv) the terms and conditions of competingoffers.
(b) will disclose to both parties all facts knownto the Dual Agent that materially affect ormay materially affect the marketability orvalue of the property.
Dual AgencyDual Agency occurs when one brokerage, tradingin real estate from one or more locations,represents two parties with respect to the potentialpurchase/lease of a property.
BrokerageBrokerage
One broker, associatebroker, or agent
Client Client
One individual representingtwo (or more) clients in thesame transaction
ClientClient
A broker, associate broker,
or agent
Two individuals workingfor the same brokerage inthe same transaction
A broker, associate broker,
or agent
AcknowledgmentI have received an explanation of agencyrelationships and have read the brochure“Agency Disclosure”.
In accordance with the disclosure in thebrochure, I acknowledge that:
,(brokerage name)
represented by:
(name of broker, associate broker, or agentregistered to the brokerage)
may act as a Dual Agent in possible realestate transactions, in addition to theirrole as:
____ Seller’s Agent ____ Buyer’s Agent
____ Landlord’s Agent ____ Tenant’s Agent
(signed)
(signed)
(date)
This panel is to be detached and retained inthe Agent’s (brokerage) files.
Since the brokerage is working for both parties, itis necessary to limit (as described below) thefiduciary duties owed to both Clients. Theselimitations on the fiduciary duties will also applyfor buyers when one brokerage represents two ormore buyers.
AGENCY DISCLOSURE
Members of the Canadian Real EstateAssociation are required to abide by astrict Code of Ethics and Standards ofBusiness Practice, which serves toprotect the buying and selling public alike.One of the ethical obligations embodied inthe Code requires that REALTORSdisclose who they are representing in areal estate transaction. Article 3 states:
A REALTOR shall fully disclose in writingto, and is advised to seek writtenacknowledgment of disclosure from, allparties to a transaction regarding the roleand the nature of service the REALTORwill be providing to the client versus thecustomer or other party to the transaction.The REALTOR shall also disclose his orher role to other REALTORS involved inthe transaction.
The Landlord is the Client who engages abrokerage to act on behalf of the Landlord whenoffering to lease real estate.
The Landlord's Agent represents the Landlordand is the licensed brokerage including the broker,associate brokers, and agents registered to it.
The Tenant is the Client who engages a brokerageto act on behalf of the Tenant when leasing realestate.
The Tenant's Agent represents the Tenant and isthe licensed brokerage including the broker,associate brokers, and agents registered to it.
A Dual Agent represents both the Seller and theBuyer (or the Landlord and the Tenant), or morethan one buyer or tenant, and is the licensedbrokerage including the broker, associate brokers,and agents registered to it.
The singular terms "The Seller" and "The Buyer"or "The Landlord" and "The Tenant" include theplural where applicable.
Buyers are sometimes referred to as purchasers;sellers are sometimes referred to as vendors.
Brokers, associate brokers, and agents can use theterm REALTOR only if they belong to a localreal estate board, and its provincial and nationalreal estate associations, that enforce a strict codeof ethics and standards of business practice.
l Carefully read all documents and understandwhat you are signing.
l If you need special or expert advice, seekother professionals such as lawyers, notaries,accountants, property inspectors,environmental assessors, contractors,engineers, and surveyors.
Advice to Buyer and Seller,Landlord and Tenant
Under the Law of Agency:
l the Agent is the individual or entity who workson behalf of another individual or entity (e.g. thebrokerage).
l the Principal is the individual or entity on whosebehalf the Agent works; also called the Client.
l the Third Party is the individual or entity who isnot represented by an Agent or is represented bya different Agent.
In Alberta, a broker / associate broker / agent islicensed under the Real Estate Act and registered toa licensed real estate company called thebrokerage.
The Seller is the Client who engages a brokerage toact on behalf of the Seller when selling real estate.
The Seller's Agent represents the Seller and is thelicensed brokerage including the broker, associatebrokers, and agents registered to it.
The Buyer is the Client who engages a brokerage toact on behalf of the Buyer when buying real estate.
The Buyer's Agent represents the Buyer and is thelicensed brokerage including the broker, associatebrokers, and agents registered to it.
Definitions
Unrepresented PartiesThe Seller/Landlord may wish to act on its ownbehalf. In this situation, the Seller/Landlordunderstands that the brokerage (including itsbroker, associate brokers, and agents) representsthe Buyer/Tenant as Buyer's Agent/Tenant's Agentand owes no duties to the Seller/Landlord.
The Buyer/Tenant may wish to act on its ownbehalf. In this situation, the Buyer/Tenantunderstands that the brokerage (including itsbroker, associate brokers, and agents) representsthe Seller/Landlord as Seller's Agent/Landlord'sAgent and owes no duties to the Buyer/Tenant.
September 2002 The Alberta Real Estate Association
The Alberta New Home Warranty Program
MANDATORY CLAUSES
for all Sales Contracts for Residential Housing*
APPENDIX A
Deposit ProtectionThe Builder confirms to the Purchaser(s) that it is a Registered Builder Member of The Alberta New Home Warranty Program(the “Program”) and that payments made by the Purchaser(s) to the Builder are protected under the Deposit Protection ofthe Program, subject to the terms, conditions, limits and exclusions of the Deposit Protection Certificate. The terms of theDeposit Protection Certificate are printed on Schedule A.
Builder Performance ProtectionThe Builder confirms to the Purchaser(s) that it is a Registered Builder Member of The Alberta New Home Warranty Program(the “Program”), and that the Home to be constructed under this Agreement will be protected under the Builder PerformanceProtection of the Program, subject to the terms, conditions, limits and exclusions of the Builder Performance ProtectionCertificate. The terms of the Builder Performance Protection Certificate are printed on Schedule B.
WarrantyThe Builder agrees to provide the Builder Warranty set forth in detail in the Warranty Certificate appearing on Schedule C ofthis Agreement as the minimum requirement on the part of the Builder. The Builder may provide warranty coverage in additionto the minimum required in the said Warranty and in such event, the additional warranty coverage shall be contained in anaddendum in writing signed by the Builder and attached to this Agreement. Additional coverage is provided solely by theBuilder and The Alberta New Home Warranty Program does not warrant the Home beyond the terms, conditions, limits andexclusions contained in the Warranty Certificate appearing on Schedule C.
ArbitrationIf any dispute arises between the Builder and the Purchaser(s) with respect to any matter in relation to this Agreement, thedispute shall be settled through binding arbitration in accordance with arbitration rules adopted by The Alberta New HomeWarranty Program (the “Program”), provided that, where the dispute is in relation to the Builder Warranty, the dispute shallnot be referred to arbitration until it has first been referred to and reported on, under the conciliation procedure provided byThe Alberta New Home Warranty Program. A copy of the arbitration rules as adopted by The Alberta New Home WarrantyProgram shall be furnished to both parties for the commencement of an arbitration, the selection of an agreed single arbitratorand the arbitration hearing. It is expressly agreed that the arbitration by the single arbitrator shall be final and binding on bothparties.
Purchaser(s) AcknowledgmentThe Purchaser(s) acknowledge(s) that it has read and understand the terms, conditions, limits and exclusions thatare specified in the Deposit Protection Certificate, Builder Performance Protection Certificate, and the WarrantyCertificate, as printed on Schedules A, B, and C, respectively.
__________________________________ __________________________________
*Do not use in sale agreements for condominiums.
The Alberta New Home Warranty Program 04/96
DEPOSIT PROTECTION
The Alberta New Home Warranty Program (hereinafter called the “Program”) undertakes to and agrees with the Purchaser(s) (herein called“Purchaser”) named in the Purchase Agreement or Construction Agreement to which this Certificate is appended (herein called the“Agreement”) that, subject to the limits, conditions and exclusions set out below, if payment(s) paid by the Purchaser to the Builder becomelegally refundable and the Purchaser is unable to collect from the Builder, the Program will pay the Purchaser’s actual loss.
1. Conditions
(a) In this Deposit Protection a “Deposit” is defined as only money (Canadian dollars) paid by the Purchaser to the Builder as a depositfor the purchase of the Home under the Agreement. Only the initial Deposit and Deposit confirming removal or satisfaction ofconditions, as described and indicated in the Agreement and the Deposit Protection Receipt are covered. Things such as real orpersonal property, trade in property of any kind, work, materials or services provided by the Purchaser, rentals, payments for use andoccupancy, or setoffs in favour of the Purchaser are not considered Deposits.
(b) The Builder must be a Registered Builder Member of the Program at the time the Deposit is made by the Purchaser and it is theresponsibility of the Purchaser to ensure that the Builder is a Registered Builder Member of the Program.
(c) The Purchaser shall:
(i) claim against the Program for repayment of a Deposit within one (1) year from the date of the Agreement;(ii) at the request of the Program, assign to the Program any security position, judgment, the Agreement, caveat or equity security
held under the Agreement or any contract with the Builder in the event of refund of a Deposit;(iii) comply with all of the obligations, terms, covenants and conditions imposed upon them under the Agreement or this Deposit
Protection; and(iv) ensure that the Program’s copy of the Deposit Protection Receipt is mailed or delivered to the Program within three (3) days
of the date that the Deposit Protection Receipt is signed by the Builder and the Purchaser.
2. Limits and Exclusions
(a) No claim may be made where the Purchaser has defaulted in any of the obligations under the Deposit Protection Receipt, theAgreement or mortgage financing for the Home.
(b) No claim may be made by the Purchaser after the expiration of a period of one (1) year from the date of the Agreement.
(c) The Deposit Protection ends when all conditions are released on the Agreement, and thereafter the terms and conditions of theProgram’s Builder Performance Protection apply.
(d) The limit of liability of the Program, for all Deposit Protection Receipts issued pursuant to the Agreement, is to refund the lesser of:the actual loss to the Purchaser for Deposit(s) made to the Builder; or 15% of the Total Price of the Home including Land under theAgreement to a maximum of $60,000.00.
3. Arbitration
If any dispute arises between the Builder and the Purchaser or between the Program and the Purchaser with respect to any matter inrelation to this Deposit Protection, the dispute shall be settled by binding arbitration by a single arbitrator in accordance with the rulesadopted by the Program. It is expressly agreed that the arbitration by a single arbitrator shall be final and binding on the parties.
The Alberta New Home Warranty Program #201, 208 - 57 Avenue SW, Calgary, AB T2H 2K8Telephone in Calgary: (403) 253-3636 or call toll free 1-800-352-8240In Edmonton: (780) 484-0572 February 1996
Appendix A - Schedule A
1. BUILDER MEMBERSHIP
The Builder named in this protection must be a Registered BuilderMember of the Program at the time the Agreement is signed with thePurchaser.
2. PURCHASER'S OBLIGATIONS
The Purchaser shall:
(a) claim against the Program for performance of this protection bycompletion of the Request for Builder Performance ProtectionAssistance form of the Program within one (1) year from theearlier of the date the Builder defaults under the Agreement orthe date the Purchaser takes possession of the Home;
(b) comply with all of the terms. covenants and conditions of theAgreement;
(c) conduct themselves prudently and according to law in complyingwith the Agreement or any extra or related agreement with theBuilder and in general make use of any law, statute or trustwhich may exist to protect a Purchaser under a residentialconstruction agreement by public statute or common usage orcustom in the conduct of such business matters (i.e., seasonal,deficiency or lien holdbacks, title trust conditions, etc.);
(d) agree to appoint the Program as their duly authorized agentupon its request for any reasonable purpose including the filingof a Purchaser's caveat under the Land Titles Act, dealing withSub-Contractors;
(e) agree to subrogate their rights in law against the Builder, Sub-Contractors or any other third party in favour of the Programrelating to the Agreement or sub-agreements of any kind, andagree that the Program may carry on any court proceeding orarbitration in the name of and on behalf of the Purchaser at thesole cost and expense of the Program;
(f) cooperate with the Program under any settlement or completionagreement after a default by the Builder including: providing afull accounting of monies paid under the Agreement; thepayment to the Program of all purchase monies which are dueor which are to become due to the extent of the total price underthe Agreement; and turn over all documents relating to theAgreement;
(g) if requested will promptly inform the Program of the name of anymortgage lender or source of funding at the time such funding isobtained or approved;
(h) agree to any reasonable changes to the Agreement to allow forthe orderly clearance of title or completion of constructionincluding necessary extensions to the completion date after aBuilder default and will sign any documents as may reasonablybe required by the Program for this purpose;
(i) agree that any dispute arising from the settlement proceedingsunder a Builder's default, including clearance of title andcompletion of the Home being constructed, shall be settled bybinding arbitration under rules of arbitration adopted by theProgram;
(j) subject to reimbursement of reasonable expenses asdetermined in the sole opinion of the Program, cooperate inacting as a witness and providing documents or otherinformation with respect to any court or arbitration proceedingsin relation to the Builder, the Agreement or the coverageprovided by this Builder Performance Protection.
3. BUILDER DEFAULT
Builder default under the Agreement, giving rise to a claim for BuilderPerformance Protection by the Program, occurs:
(a) if after a payment by the Purchaser the Builder, in the solearbitrary opinion of the Program, becomes insolvent or in anyway incapable of completing its obligations to the Purchaser, theProgram or others in a proper or timely manner;
BUILDER PERFORMANCE PROTECTIONThe Alberta New Home Warranty Program (hereinafter called the "Program") undertakes to and agrees with the Purchaser(s) (hereinafter called the"Purchaser") named in the Agreement to which this Certificate is appended (hereinafter called the "Agreement") that in the event that the Builder(hereinafter called the "Builder") named in the Agreement defaults in:
1. completing the requirements of the Agreement in accordance with its terms, covenants and conditions; or
2. paying all sub-trades and suppliers (hereinafter called the "Sub-Contractors") according to law and in compliance with governing statutes;
the Program will, subject to the limits and conditions and exclusions set out below:
(a) settle as agent of the Purchaser any claims of any Sub-Contractors to the extent required of an owner under the Builders' Lien Act of AlbertaR.S.A. 1980 c. B-12 to clear title of any builders' liens filed against the Home being constructed under the Agreement; and
(b) complete the construction of the Home in accordance with the Agreement and the plans and specifications pursuant to the Agreement, subjectto any reasonable changes required as to the time of completion or other parts of the Agreement as might reasonably be required accordingto the circumstances in the sole opinion of the Program.
CONDITIONS OF BUILDER PERFORMANCE PROTECTION
Appendix A - Schedule B
Page 1 of 2
(b) if after the making of a payment to the Builder, the Buildercommits any act of fraud or a judgment of a court of competentjurisdiction makes a finding of fraud (civil or criminal) against theBuilder;
(c) if the Builder commits any act of bankruptcy or becomesbankrupt;
(d) if the Builder fails to pay its Sub-Contractors promptly when dueor permits builders' liens arising under the Builder to be filedagainst the Home under construction for a period exceeding 30days;
(e) if any final judgments or executions are obtained or takenagainst the Builder which are not settled, deferred or satisfiedwithin any appeal period applicable to such judgments;
(f) if a receiver or receiver/manager is appointed by any creditor orcourt of competent jurisdiction to operate, manage, oversee oradminister the business of the Builder;
(g) if the Builder makes any arrangement, compromise orsettlement with its creditors deferring, altering or extending thetime or amount of payment due to them:
(h) if the Builder abandons the construction or defaults under any ofits other covenants in the Agreement without just cause.
4. LIMITS AND EXCLUSIONS
(a) No claim may be made under this protection where thePurchaser has defaulted or is in breach of any of theirobligations pursuant to the Agreement or the requirements formortgage financing for the Home.
(b) No claim may be made by the Purchaser under this protectionwhere the Purchaser has received a refund of any payment inwhole or in part under the Program's Deposit Protection.
(c) No claim may be made by the Purchaser under this protectionagainst the Program after the expiration of a period of one (1)year following the earlier of the date of the default by the Builderor the date of possession of the Home by the Purchaser.
(d) The coverage granted under this protection by the Program islimited to clearance of builders' liens and completion ofconstruction. The Program is not liable for any other damages,costs or expenses whatsoever to the Purchaser arising from adefault by the Builder.
(e) The limit of liability of the Program for the clearance of builders'liens and the completion of the Home under construction(including reasonable excess legal costs of the Purchaser asapproved by the Program to a maximum of' $3,000.00) is$30,000.00.
(f) If in the sole opinion of the Program there has been minimal initialconstruction of the Home pursuant to the Agreement, then theProgram reserves the right to terminate this BuilderPerformance Protection and provide only the required paymentto the Purchaser under the Program's Deposit Protection.
(g) No claim may be made by the Purchaser under this protectionwith respect to: completion of the purchase of any real orpersonal property, such as a house, mobile home or otherwisetaken in trade pursuant to the Agreement; the guaranteedpurchase or sale of the Purchaser's real or personal propertysuch as a house, mobile home or otherwise; mortgage buy-downs; real estate commission; referral fees; mortgageinsurance fees (CMHC or otherwise); landscape deposit or anyother deposits required by the developer of the lands for theHome; all of which are specifically excluded from this protection.
(h) The Total Price required to be paid under the Agreement by thePurchaser must be paid in Canadian dollars and any trades orpurchases of real or personal property between the Purchaserand the Builder or others are excluded.
5. TERMINATION
The protection shall be voided automatically if:
(a) the Purchaser is in default of any of their obligations set out inthis protection or in the Agreement or in any obligation to thefinancial institution providing mortgage financing for the Home;or
(b) the Purchaser or the Builder amend or alter in any way thisprotection; or
(c) after termination of the membership of the Builder in theProgram the Purchaser elects to continue with the Builder for theconstruction of the Home; or
(d) the Purchaser knowingly enters the Agreement or any otheragreement with the Builder which is misleading, untrue, orfraudulent resulting in damage, loss or excess cost to theProgram or to a mortgage lender.
6. NO ASSIGNMENT
This Builder Performance Protection cannot be assigned by thePurchaser without the written consent of the Program which consentmay be denied in the absolute discretion of the Program.
7. ARBITRATION
If any dispute arises with respect to any matter in relation to thisprotection, the dispute shall be settled by binding arbitration by asingle arbitrator in accordance with arbitration rules adopted by theProgram.
It is expressly agreed that the arbitration shall be final and bindingon all parties.
The costs of the arbitration, including the arbitrator's fee, shall beborne by the parties to the arbitration but a final award of costs shallbe in the discretion of the arbitrator.
December 2001
Page 2 of 2
SINGLE FAMILY RESIDENCE WARRANTY CERTIFICATE
General Warning: Please read this Certificate carefully. It contains limits, exclusions and noticerequirements. The protections available under this Warranty Certificate are time limited.
1. DEFINITIONS
In this Warranty:(a) “Arbitration” means a binding arbitration in accordance with the rules and procedures adopted by the Program;
(b) “Builder” is the Builder named on your Certificate of Possession;(c) “Certificate of Possession” is the Program’s form of Certificate of Possession for the Home provided to the Homeowner by the Builder
on or about the actual Date of Possession of the Home by the Homeowner;
(d) “Conciliation” means an inspection and a written report issued by the Program that provides a binding decision regarding warrantyissues in dispute with respect to Defects and Structural Defects in the Home as provided in this Warranty Certificate. A Conciliationincludes, in the case of a Structural Defect, a written Structural Integrity Protection report;
(e) “Date of Possession” is the earlier of the date the Purchaser occupies the Home or the Date of Possession described in the Certificateof Possession. The Purchaser shall sign a Certificate of Possession prior to taking possession of the Home. In the event that aCertificate of Possession is not signed or provided to the Program, the Program shall, in its sole discretion, determine the Date ofPossession and such date shall be binding upon the Builder and the Purchaser;
(f) “Defects” are workmanship and material which are not in compliance with the Program’s Workmanship and Material Guidelines or werenoted on the Certificate of Possession and have not been resolved or are not in compliance with the Alberta Building Code in effectas at the date the building permit was issued for the Home or any condition which renders the Home not fit for use as determined bythe Program in its sole discretion. Non-compliance with the Alberta Building Code is considered a Defect covered by this Warrantyonly if the non-compliance constitutes an unreasonable health or safety risk, or has resulted in, or is likely to result in, material damageto the Home;
(g) “Equipment” is all of the mechanical and electrical systems or equipment installed in the Home and without restricting the generalityof the foregoing, includes any mechanical, electrical, communication, security, elevator, heating, ventilating, irrigation or appliancesystems and components;
(h) “Home” is the residential dwelling constructed by the Builder at the address recorded on this Warranty Certificate and described in theCertificate of Possession;
(i) “Homeowner” is the registered legal owner of the Home;
(j) “Load Bearing Part” is the support system of the Home capable of transmitting live and dead loads to the supporting ground asdetermined by the Program from the plans and specifications of the Home and includes only the footings, piles, foundation walls, gradebeams, teleposts, load bearing walls, beams, floor systems and roof trusses;
(k) “Program” means The Alberta New Home Warranty Program;
(l) “Structural Defect” is a Defect in material or workmanship that results in damage due to the failure of a Load Bearing Part to providestable and adequate support in the Home or is not in compliance with the Alberta Building Code in effect as at the date the buildingpermit was issued for the Home. Excluded are driveways, decks, basement and garage floors, patios, sidewalks, retaining walls andall other concrete work which is not a Load Bearing Part. Non-compliance with the Alberta Building Code is considered a Defectcovered by this Warranty only if the non-compliance constitutes an unreasonable health or safety risk, or has resulted in, or is likely toresult in, material damage to the Home.
2. BUILDER WARRANTY
(a) The Builder warrants that the Home was built to the construction standards of the Alberta Building Code in effect at the date the buildingpermit was issued for the Home.
(b) The Builder agrees to repair or replace Defects or Structural Defects in the Home where written notice has been given to the Builderin accordance with paragraphs 4(a) and 4(b) below.
(c) The Builder shall assign to the Homeowner any limited warranty provided to it by a manufacturer or supplier. The scope of the Builder’sobligation to the Homeowner under a manufacturer’s or supplier’s material warranty shall be limited to the terms and conditionscontained therein.
Appendix A - Schedule C
July 2001 Version The Alberta New Home Warranty Program Page 1 of 5
(d) The following are Not Defects or Structural Defects:
(i) Any workmanship, design or material, provided or contracted directly by the Homeowner with a supplier, manufacturer ortradesperson;
(ii) Damage arising from improper or inadequate maintenance by the Homeowner including damage caused by, or resultingfrom, failure to maintain proper grading of the ground, failure to make necessary telepost adjustments, water leakage ordrainage, inadequate water/moisture seals, or the failure of the Homeowner to repair and maintain the Home or mitigate anydamage thereto;
(iii) Damage caused by alterations or work done by the Homeowner or the agents or sub-contractors of the Homeowner;(iv) Defects that were apparent and were accepted by the Homeowner at the Date of Possession;
(v) Normal cracks in plaster, drywall, paint, masonry, stucco, parging, ceramic tiles, grout and other cementious material andconcrete;
(vi) Normal shrinking and warping of material caused by drying after construction;
(vii) Normal soil movement or subsidence along utility lines or backfill consolidation of compaction around the Home;(viii) Damage other than Structural Defects caused by soil movement or subsidence;
(ix) Damage arising from wear and tear, age or weathering;(x) Damage arising from dampness, condensation or fungal or bacterial contamination;
(xi) Accidental loss or damage caused by a third party or from acts of nature such as, but not limited to: fire, explosion, smoke,water escape, changes which are not reasonably foreseeable in the level of the underground water table, glass breakage,windstorm, hail, lightning, falling trees, aircraft, vehicles, flood and earthquake;
(xii) A Defect in any workmanship or material specifically agreed between the Homeowner and the Builder is excluded from thislimited warranty;
(xiii) Any damage to the extent that it is caused or made worse by the Homeowner or a third party, including: - Negligent or improper maintenance or improper operation of any Equipment by anyone other than the Builder or its
employees, agents or sub-contractors;
- Failure of anyone other than the Builder or its employees, agents, or sub-contractors to comply with the warrantyrequirement of manufacturers of the Equipment or fixtures;
- Alterations to the Home or the Equipment by anyone other than the Builder or its employees, agents or sub-contractors; or
- Changes or failing to maintain the grading of the lot for the Home;(xiv) Matters directly or indirectly arising from or related to environmentally harmful substances or hazards, deleterious substances
or toxic conditions or materials on, in or about the Home regardless of the party responsible;
(xv) Any loss or damage which arises while the Home is being used primarily or substantially for non-residential purposes;(xvi) Damage arising to the Home or the Equipment from the failure of the Homeowner to take timely action to prevent or minimize
loss or damage, including failure to give prompt notice to the Builder and the Program of a discovered loss or potential loss;
(xvii) Any damage caused by insects, rodents or other animals except where such damage results from a Building Code Defect;(xviii) Bodily injury, emotional anguish, inconvenience, damage to personal property, economic loss or damage to real property
which is not part of the Home; and
(xix) Diminution in the value of the Home or the Equipment.
3. STANDARD PROGRAM WARRANTY
(a) The Program shall be responsible to carry out the first year of the Builder Warranty, as defined in this Warranty Certificate and subjectto the procedures described herein, if the Builder does not perform in a reasonable and timely manner in accordance with the policiesand procedures of the Program.
(b) For the four (4) year period following the Builder Warranty the Program shall repair any Structural Defect where a Load Bearing Partfails to provide stable and adequate support for the Home including any consequential damages caused to the Home arising directlyfrom the Structural Defect.
(c) Decisions of the Program by Conciliation or otherwise regarding the investigation, method of repair or correction of Defects orStructural Defects and the retaining and payment of any third parties, consultants and repair contractors, shall be in the sole discretionof the Program and shall be final and binding on the Homeowner and the Builder.
Page 2 of 5
(d) If the Home cannot be occupied during the warranty period because of a Defect or Structural Defect, the Program will reimburse theHomeowner any increase in living and moving or storage expenses pre-approved by the Program in accordance with a scheduleadopted by the Program. The limit of these expenses shall be SIX THOUSAND ($6,000.00) DOLLARS.
(e) This Warranty Certificate shall be strictly limited to the repair or replacement of Defects or Structural Defects. The Program shall haveno liability other than to repair or replace Defects or Structural Defects and for which there is no monetary alternative, but the Programmay determine the reasonable costs associated with the repair or replacement of Defects or Structural Defects and in its solediscretion the Program has the option to choose the alternative of paying monetary compensation to the Homeowner rather thanrepairing or replacing Defects or Structural Defects. Any such payment by the Program shall be deducted from the limit of liability ofthe Program referred to in paragraph 5(f) below and the Program and the Builder shall have no further liability for the Defect orStructural Defect or any consequential damages arising therefrom for which compensation has been paid. The Program shall not beliable in any way, directly or indirectly, for any damage, loss or expense, emotional anguish, inconvenience, diminution in the valueof property, economic loss, physical injury or damage to a person, or persons or to any personal property, or other property notcovered by this Warranty Certificate. Any repairs or investigations undertaken, or costs incurred, by the Homeowner shall be at thesole expense of the Homeowner and not subject to reimbursement by the Program.
4. HOMEOWNER OBLIGATIONS
(a) The Homeowner shall:
(i) Immediately and within one (1) year from the Date of Possession, provide written notice to the Builder giving full details of anyDefect and not later than sixty (60) days after the end of that year give to the Program, in the Program’s form, written noticeof any Defect which has not been repaired or replaced by the Builder and make a written request for assistance of the Programfor Conciliation of the Defect;
(ii) Immediately and within five (5) years after the Date of Possession, provide a written request for assistance in the Program’sform, to the Program, giving full details of any Structural Defect for Conciliation of the Structural Defect;
(iii) In cases of a dispute with the Builder, before using any other remedy, provide written notice to the Program for Conciliation ofthe dispute, the decision of which shall be binding upon both the Builder and the Homeowner unless changed by Arbitration;
(iv) Not undertake any unilateral action or remedy without the prior written consent of the Program. The cost of such action andany consequent liabilities arising therefrom, will be for the sole account of the Homeowner. Further, unilateral actions orremedies undertaken by the Homeowner without the Program’s consent will be excluded from this warranty and may result inthis warranty being voided entirely;
(v) Allow timely, free and full access to the Home Monday through Friday, excluding statutory holidays, from 8:00 am to 5:00 pmto the Builder or the Program and their authorized employees, agents and sub-contractors for the purpose of monitoringcomplaints or claims, inspecting for required maintenance, investigating warranty or claims issues, monitoring warranty orclaim issues, conducting further inspections as required, or to repair or replace Defects or Structural Defects; and
(vi) Have paid the full purchase price for the Home including all adjustments and extras to the Builder, any holdbacks for Defects,deficiencies, seasonal deficiencies, or Builders’ liens being held in trust with the solicitor for the Builder or paid into the Courtof Queen’s Bench of Alberta.
(b) The Homeowner:(i) Agrees that the Program upon making any payment or assuming liability under this Warranty Certificate protection coverage,
is subrogated to all rights of recovery of the Homeowner against any person, corporation or other entity who may have causedor contributed to the occurrence of any liability under this coverage protection. The Program may bring action, at theProgram’s expense, in the name of the Homeowner or the Program to enforce such rights. The Homeowner shall fully supportand assist the Program in the pursuit of its subrogated rights; and
(ii) Acknowledges that any notice required to be given to the Program must in fact be given to the Program in the Program’s formof written notice and within the time limits. Any notice given to the Builder is not effective notice to the Program.
5. LIMITS AND EXCLUSIONS
(a) The only Warranty given by the Builder or the Program, which is binding on the Program, is contained in this Warranty Certificate.
(b) When a Structural Defect is not causing damage to the Home, the Program may delay repairs until damage does occur.(c) A Structural Defect caused by improper maintenance of, or an alteration to, the Home or Equipment by the Homeowner is not included
in this Warranty.
(d) No claim shall be made under this Warranty Certificate where the Program has made a refund to the Homeowner under its DepositProtection Receipt.
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(e) This Warranty Certificate shall be strictly limited to the repair or replacement of Defects or Structural Defects. The Program shall haveno liability other than to repair or replace Defects or Structural Defects and for which there is no monetary alternative. The Programshall not be liable in any way, directly or indirectly, for any damage, loss or expense, emotional anguish, inconvenience, diminution inthe value of property, economic loss, physical injury or damage to a person, or persons or to any personal property, or other propertynot covered by this Warranty Certificate. Any repairs or investigations undertaken, or costs incurred, by the Homeowner shall be atthe sole expense of the Homeowner and not subject to reimbursement by the Program.
(f) The limit of liability of the Program for the costs of any and all repairs and third party investigation and consulting engineers underthis Warranty Certificate, including the first year Builder’s Warranty and the Standard Structural Warranty is SIXTY THOUSAND($60,000.00) DOLLARS.
(g) The Home has been enrolled by the Program for Warranty Certificate coverage subject to the terms, conditions, exclusions and limitsof this Warranty Certificate.
6. TERMINATION OF WARRANTY
(a) This Warranty Certificate shall terminate automatically if:
(i) The Homeowner does not maintain the Home in a reasonable and prudent manner;(ii) The Home is not used for residential purposes by the Homeowner, unless the Homeowner obtains the written consent of the
Program which consent shall be in the sole discretion of the Program;
(iii) The Homeowner fails to comply with the Homeowner Obligations in paragraph 4 above;(iv) The Homeowner undertakes any unilateral action or remedy without the prior written consent of the Program, the cost of such
action and any consequent liabilities arising therefrom, will be for the sole account of the Homeowner and unilateral actionsor remedies undertaken by the Homeowner will be excluded from this Warranty Certificate and will result in the Program’sWarranty Certificate being cancelled entirely.
(b) In any event, unless the Homeowner has met the written notice requirements and obligations to both the Builder and the Program inparagraph 4 above, then the warranty obligations and liability of the Program to the Homeowner under this Warranty Certificate shallbe absolutely terminated:
(i) Sixty (60) days after the end of one (1) year from the Date of Possession with respect to the first year warranty in paragraph3(a) above;
(ii) Five (5) years from the Date of Possession with respect to the Structural Warranty in paragraph 3(b) above;(iii) Ten (10) years from the Date of Possession with respect to a Structural Warranty in paragraph 3(b) above that has been
extended by the payment of a non-refundable fee to the Program within the optional time period offered by the Program.
7. TRANSFER OF WARRANTY
If the legal title to the Home is transferred before the termination of this Warranty Certificate, then:(a) All of the applicable unused benefits under this Warranty Certificate shall be automatically transferred to any subsequent Homeowner.
But whether disclosed or not, prior actions or obligations of the Homeowner shall be binding upon any subsequent Homeowner and,in particular, any previous acts, omissions, defaults or agreements of any kind made by the Homeowner with the Builder or theProgram shall be binding upon any subsequent Homeowner;
(b) Each Homeowner shall promptly deliver this Warranty Certificate to any subsequent Homeowner and shall advise any subsequentHomeowner of any matter that may affect or limit the coverage contained in this Warranty Certificate;
(c) All of the Homeowner Obligations contained in this Warranty Certificate shall be binding on any subsequent Homeowner.
8. CONCILIATION PROCEDURE
(a) If there is a dispute between the Builder and the Homeowner with respect to the Builder Warranty or any additional warranty providedby the Builder, then either the Builder or the Homeowner must provide the Program with the Program’s form of written noticerequesting Conciliation of the dispute.
(b) With respect to Defects, the Program’s form of written notice together with the non-refundable fee [refer (8)(d)(iv)] must be receivedby the Program not later than sixty (60) days after the end of one (1) year from the Date of Possession.
(c) With respect to a Structural Defect, the Program’s form of written notice together with the non-refundable fee [refer (8)(d)(iv)] must bereceived by the Program not later than five (5) years from the Date of Possession, or not later than ten (10) years from the Date ofPossession if the Structural Defect Warranty has been extended as described in paragraph 6(b)(iii) above.
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(d) The Builder and the Homeowner must comply with the Program’s Conciliation procedures. Upon receiving the Program’s form ofwritten request for Conciliation, the Program will apprise the Homeowner and the Builder of the Program’s Conciliation procedureswhich include, but are not limited to, the following conditions:
(i) The inspection and Conciliation procedures of the Program are mandatory before the Program will do any repair work;(ii) No Conciliation will be commenced until the full purchase price for the Home has been paid in accordance with paragraph
4(a)(vi) above;
(iii) The Homeowner must allow reasonable access to the Home Monday through Friday, excluding statutory holidays, from 8:00am to 5:00 pm to the Builder or the Program and their authorized employees, agents and sub-contractors for the purpose ofinspection or repair;
(iv) A non-refundable fee specified by the Program must accompany submission of the Program’s form of written request forConciliation;
(v) The Program will provide a written Conciliation report to the Builder and the Homeowner;(vi) A Conciliation decision shall be final and binding;
(vii) If repairs are necessary, the Program may conduct inspections of the Home until the work has been completed to theProgram’s satisfaction;
(viii) It is an absolute requirement (condition precedent) that prior to the Program commencing any remedial work or repairs, thatany outstanding monies due and owing to the Builder including holdbacks for Defects, deficiencies or otherwise as describedin 4(a)(vi) above must be unconditionally forwarded to the Program and disbursed in accordance with the written decision ofthe Program unless the Builder or Homeowner proceeds to Arbitration, in which case the monies shall be disbursed inaccordance with the Arbitration proceedings.
9. ARBITRATION
(a) If any issue, with respect to anything in this Warranty Certificate or contained in a Conciliation report, is disputed, it shall be settledby Arbitration by a single arbitrator in accordance with the Arbitration rules and procedures adopted by the Program. It is expresslyagreed that the Arbitration shall be final and binding on all parties.
(b) Payment of the costs of the Arbitration including: the arbitrator’s fees and expenses; the Arbitration application fee; and the law firmadministration fee, shall be the responsibility of the parties to the Arbitration but a final award of costs shall be in the discretion of thearbitrator.
(c) The Homeowner, Builder or the Program may initiate an Arbitration. The application to arbitrate must be commenced by completingan Application to Arbitrate in the form approved by the Program and submitting the Application to Arbitrate and a non-refundableapplication fee to a law firm designated by the Program not later than thirty (30) days from the date of the Program’s Conciliationreport.
10. NOTICE
Any notice required to be given must be given in writing and mailed or delivered at the addresses indicated in the Certificate of Possessionfor the Homeowner and the Builder. The Program’s address is:
The Alberta New Home Warranty Program
Calgary#201, 208 - 57 Avenue S.W.
Calgary, AB T2H 2K8
Edmonton#201, 10335 – 172 StreetEdmonton, AB T5S 1K9
Any notice delivered by mail shall be deemed to have been received five (5) days after it has been posted in a prepaid addressed envelope.
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NATIONAL HOME WARRANTY PROGRAM ADDENDUM TO PURCHASE AGREEMENT
LIMITED WARRANTY CERTIFICATE - SINGLE-FAMILY RESIDENTIAL UNIT
1. DEFINITIONS - In this Limited Warranty:“Arbitration” means a binding arbitration in accordance with the rules adoptedby the Program.“Builder” means the Builder named in the Contract and on the Certificate ofPossession.“Certificate of Possession” means the Certificate that is to be dated andexecuted by the Builder and Purchaser on the Possession Date.“Conciliation” means an inspection and a written report issued by the Programthat provides a binding decision regarding warranty issues in dispute between theBuilder and the Purchaser.“Contract” means a written agreement made between the Builder and thePurchaser wherein the Builder agrees to construct or sell to the Purchaser aResidential Unit built in accordance with the plans and specifications or modelreferred to in the agreement.“Contractual Completion Warranty Period” means the period commencing onthe date construction of the Residential Unit begins and ending on the earlier of(i) the date the Residential Unit is occupied by the Purchaser, or (ii) the date theResidential Unit is complete and ready for occupancy by the Purchaser, or (iii) thedate the unit is complete and title is transferred from the Builder to the Purchaserat the appropriate Land Title Office.“Defects” means workmanship or materials supplied which are not incompliance with the Program’s Defect Guidelines or were noted on theCertificate of Possession and have not been resolved or are not incompliance with the Alberta Building Code in effect as at the date the buildingpermit was issued or any condition which renders the Residential Unit not fit forits intended use as determined by the Program in its sole discretion. Non-compliance with the Alberta Building Code is considered a Defect covered by thisLimited Warranty only if the non-compliance constitutes an unreasonable healthor safety risk, or has resulted in material damage to the Residential Unit.“Defect Warranty Period” means the period commencing on the PossessionDate of the Residential Unit and ending one (1) year from the Possession Date.“Deposit” means money paid by a Purchaser to a Builder as a deposit only,pursuant to the terms of a contract.“Deposit Receipt” means a receipt in the form provided by the Program to beexecuted by the Purchaser and the Builder for money paid to the Builder by thePurchaser as a Deposit.“Deposit Warranty Program” means the period commencing on the date theProgram receives confirmation of Deposit Coverage under the Limited Warrantyfrom the Builder and ending on the date construction of the Residential Unitcommences.“Possession Date” means the date of possession set forth in the Certificate ofPossession.“Purchaser” means any person owning the Residential Unit and named in thecontract with the Builder for the construction of the Residential Unit, for thepurpose of residential occupancy by the Purchaser.“Residential Unit” means the home, constructed for the purpose of residentialoccupancy by the Purchaser, that is the subject matter of this Limited WarrantyCertificate.“Soil Movement” means the subsidence, expansion or lateral movement of soilsimmediately supporting or surrounding any load bearing portion of a ResidentialUnit but excludes soil movement caused by flood, earthquake, landslide or act ofGod.“Structural Defect” means a Defect in a load bearing component of aResidential Unit which will impair the overall structural integrity and stability of theResidential Unit but excludes driveways, basement floors, garage floors, carportslabs, sidewalks, retaining walls, septic tanks and fields or any other constructionwhich by its use, uses or intended uses are not load bearing. For the purposes ofthis Limited Warranty Certificate “Load Bearing” means the piles, footings,foundation walls, grade beams, teleposts, bearing walls, floor joists, posts andbeams, and roof trusses.
“Structural Defect Warranty Period” means the period commencing on thePossession Date of the Residential Unit and ending five (5) years from thePossession Date.“The Program” means National Home Warranty Programs Ltd.
2. BUILDER’S OBLIGATIONS AND WARRANTYa) The Builder warrants that the Residential Unit was constructed in accordancewith the Alberta Building Code requirements and standards in effect at the timethe building permit was issued for the Residential Unit.b) The Builder agrees to repair or replace Defects listed and attached to theCertificate of Possession in a timely and efficient manner.c) Defects to the Residential Unit will be repaired or replaced where such Defectsoccur within one (1) year following the Possession Date, provided that thePurchaser has complied with all those obligations as set out in Paragraph 4,following;d) The following are not Defects;i) Normal cracks in plaster, paint, drywall, masonry, stucco and concrete workincluding without limitation, cracks in basement floors, garage floors, retainingwalls, patios, sidewalks and driveways;ii) Normal shrinkage or warping of materials;iii) Defects arising from normal wear and tear or improper and inadequatemaintenance by the Purchaser including damage caused by, or resulting from,dampness or condensation due to the failure of the Purchaser to maintainadequate heat and/or ventilation;iv) Defects in workmanship, materials or alterations supplied or made by thePurchaser;v) Damage caused by the Purchaser at the time of the move-in;vi) Damage caused by Soil Movement around the Residential Unit or utility linesother than Structural Defects;vii) Defects accepted by the Purchaser at the Possession Date that were thenapparent.
3. PROGRAM WARRANTYIn order for the warranties provided in this document to be binding upon theProgram, the Purchaser must not be in default of any, some or all of thoseobligations set out in Paragraph 4 of this Limited Warranty Certificate.The Program shall indemnify the Purchaser, subject to the exclusions, limitationsand conditions set out in this Limited Warranty where a claim for direct loss ismade within the Deposit and Contractual Completion Warranty Period, DefectWaranty Period or Structural Warranty Period.Subject to the exclusions, limitations and conditions set out in this LimitedWarranty, the Program shall only be liable for the limit specified below in respectof all claims made by the Purchaser under each coverage listed;a) Deposit Coverage WarrantyThe Program will pay to the Purchaser any portion of a Deposit which at law isrefundable to the Purchaser under the Contract and is not recovered from theBuilder as a result of the bankruptcy, insolvency, liquidation or winding up of theBuilder providing the claim therefor is made to the Program within one year fromthe date of the Contract. The maximum obligation of the Program for DepositCoverage is Twenty Five Thousand Dollars ($25,000.00).b) Contractual Completion WarrantyThe Program will provide protection to the Purchaser for damages caused by theBuilder’s failure to complete the construction of the Residential Unit as a result ofthe bankruptcy, insolvency, liquidation or winding up of the Builder providing theclaim therefor is made to the Program within the Contractual CompletionWarranty Period.The Program will pay reasonable legal costs not to exceed $3,000.00 to removeliens from the Purchaser’s title.The maximum obligation of the Program for damages resulting from the Builder’sfailure to complete the construction of the Residential Unit and to clear builderliens with respect to the Residential Unit shall not exceed, in the aggregate, thesum of Twenty Five Thousand Dollars ($25,000.00).
Appendix B
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The Purchaser cannot make any claims under the provisions of Paragraph 3(b),above, WHERE:a) The Deposit has been returned to the Purchaser;b) The Purchaser fails to comply with any and all laws, statutes or statutory orlegal obligations which are designed and intended for the benefit of thePurchaser pursuant to the Contract or any law or statute or legal practice orstandard regulating the activities and matters, i.e. Holdbacks (lien or seasonal);c) One (1) year has elapsed following the Default of Builderd) Possession of the Residential Unit has been taken by the Purchasers;e) Any claim is made for any matter beyond the warranty provided by thisdocument;f) If the Purchaser continues to deal with the Builder for completion of theResidential Unit even after termination of the Builder’s registration with theProgram;c) Defect and Structural Defect WarrantyThe Program will:a) fulfill the one (1) year warranty of the Builder as set out in Paragraph 2 of thisdocument if the Builder fails to do so;b) repair Structural Defects which occur during the four (4) year period followingthe expiration of the Builder’s warranty;The decision to correct a Defect or Structural Defect is in the sole discretion ofthe Program. This can only be changed by Conciliation;d) Additional Living Expenses CoverageIf the Residential Unit becomes uninhabitable due to a Defect or StructuralDefect, for such period as is reasonably required to repair the Defect or StructuralDefect, pay compensation for additional living and moving expenses in anamount not to exceed Five Thousand Dollars ($5,000.00), q subject to priorapproval of the Program q.
The maximum obligation of the Program, pursuant to Paragraphs 3(b), 3(c) and3(d) above, shall not exceed in the aggregate, the sum of Fifty Thousand Dollars($50,000.00).
4. PURCHASER OBLIGATIONSIn order for Parts 3(c) and 3(d) of this Limited Warranty to be in effect thePurchaser shall:a) execute a Certificate of Possession provided by the Builder;b) maintain the statutory lien fund;c) use the Residential Unit only as a residence;d) not remove the Residential Unit from its foundation;e) properly maintain the Residential Unit;f) immediately and within one year from the Possession Date contact the Builderin writing giving full details of any Defect or Structural Defect. If the Builder failsto respond in a reasonable period of time the Purchaser shall notify the Programin writing giving complete details within sixty (60) days of the first anniversary ofthe Possession Date;g) immediately and within five (5) years after the Possession Date contact theProgram in writing giving full details of any Structural Defects;h) in the event of a dispute concerning the Builder’s performance of its one (1)year warranty, before using any other remedy, proceed to conciliation, all inaccordance with the procedures set out in this Certificate;i) maintain and ensure that drainage of surface water shall be away from thefoundation walls of the Residential Unit;j) cooperate with the Program upon the Builder’s default, including the executionof such agreements and documents as may reasonably be required by theProgram to fulfill its obligations under this Limited Warranty;k) fully cooperate with the Builder, sub-trades and the Program in permittingthem, or any of them, to obtain easy access in order to repair or replace a Defector Structural Defect;l) not be in default of any of these obligations and the Contract.
5. LIMITATION AND EXCLUSIONSa) The Warranty contained in this Limited Warranty Certificate is the onlyWarranty that is binding upon the Builder and the Program.b) This Limited Warranty covers repairs to the Residential Unit and the Programis not liable for any other property damage or personal injury.
6. TRANSFER OF LIMITED WARRANTYTo effect a transfer of the Limited Warranty the home, named in the contract withthe Builder and the original Purchaser, must have been completed by the Builderand occupied by the original Purchaser named in the contract with the Builder. Inthe event there is a transfer of ownership of the Residential Unit during the termof this Limited Warranty, then all remaining benefits under this Limited Warrantyshall accrue to the new owner who will be bound by all the Purchaser obligationsset out herein. The new owner shall not be entitled to any benefits under theLimited Warranty that would not have accrued to the Purchaser had thePurchaser retained ownership of the Residential Unit.
7. CONCILIATIONa) In the event of a dispute between the Builder and the Purchaser which cannotbe settled between them with respect to the Builder’s performance of its one (1)year warranty, either party shall submit in writing to the Program for conciliation.This shall be done within sixty (60) days of the end of the one (1) year warrantysupplied by the Builder. This procedure is a pre-requisite of the Programaccepting responsibility pursuant to Paragraph 3 of this Limited Warranty;b) The Conciliator shall be named by the Program and shall have such powersas is necessary, and without limitation the right of reasonable access to theResidential Unit to conduct inspections, in order to make a proper determinationof the dispute. Both the Builder and the Purchaser shall make representations tothe Conciliator in the manner directed by the Conciliator.c) The Conciliator shall make a determination and advise both parties in writingof the decision, including the work to be done, if any, and by whom.d) If it is determined that there is remedial work to be done the Program shallconduct such inspections as are necessary, in the absolute discretion of theProgram, until the work to be completed has been done.e) The decision of the Conciliator shall be final and binding upon all parties heretounless changed by the decision of an arbitrator.f) It is an absolute requirement (condition precedent) to any remedial work orrepairs by the Program, that should the Purchaser be holding back payment ofany monies due and owing to the Builder for any claimed defect or deficiencythen such monies shall be paid into trust at the direction of the Program prior tothe commencement of any remedial work or repairs. The monies shall be held intrust and disbursed in accordance with the written decision of the Program unlessthe Builder or the Purchaser proceed to arbitration, in which case the moniesshall be disbursed in accordance with an arbitration award pursuant to Paragraph8 (Arbitration).
8. ARBITRATIONa) If any issue contained in the conciliation report is disputed, it shall be settledby binding arbitration by a single arbitrator in accordance with the rules adoptedby the Program.b) The homeowner, Builder or the Program may initiate an arbitration by makinga written request and submitting it and the appropriate non-refundable fee to thelaw firm designated by the Program not later than 30 days from the date of theconciliation report.c) The cost of the arbitration, including the arbitrator’s fee, shall be borne by theparties to the arbitration. A final award of costs shall be at the discretion of thearbitrator. It is expressly agreed that the arbitration shall be final and binding onall parties.
9. SUBROGATIONThe Purchaser(s) hereby subrogate(s), in favour of the Program, all their rightsagainst the Builder, sub-trades or any third party relating to the Contract andhereby further agrees that the Program shall have the full right and power to carryon any judicial or other proceeding(s) in the name of the Purchaser(s).
I/We acknowledge that I/We have read this Limited Warranty Certificatedisclosed to me/us by the Builder on this ______________ day of__________________________________________________, 20__________.
Purchaser: ______________________________________________________
Purchaser: ______________________________________________________
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Appendix C
Limited Warranty Certificate Page 1
RESIDENTIAL WARRANTY COMPANY OF CANADA INC.LIMITED WARRANTY CERTIFICATE
1.0 Definitions
The following words and phrases when used in this Limited Warranty Certificate shall have the following meanings unless the contextotherwise requires:
1.1 “Builder” means the builder or contractor described in the Possession Certificate and/or declaration page attached to thisLimited Warranty Certificate;
1.2 “Building Code” means the provincial building code applicable to construction of the Residential Unit and in force at the timethe building permit was issued for the Residential Unit;
1.3 “Contract” means the written agreement made between the Builder and the Purchaser for construction or sale to the Purchaserof a Residential Unit;
1.4 “Defect” means any work and materials which fail to comply with the Building Code;
1.5 “Limited Warranty Certificate” means this certificate;
1.6 “Possession Certificate” means the Possession Certificate in the form provided by RWC which is to be dated, completed andexecuted by the Builder and Purchaser on the Possession Date;
1.7 “Possession Date” means the date of possession stated in the Possession Certificate;
1.8 “Purchaser” means a person who has entered into a Contract with the Builder;
1.9 “Program” means the single family residential warranty program administered by RWC;
1.10 “Residential Unit” or “Unit” means a detached or semi-detached single-family dwelling or duplex newly constructed by theBuilder and not occupied prior to the Possession Date but does not include any swimming pool, site grading or surfacedrainage, landscaping, shrubbery, flowers, trees, patio, driveway, sidewalk, retaining wall, fence, septic tank or field, water well,or detached garage, carport or outbuildings, or a condominium unit;
1.11 “RWC” means Residential Warranty Company of Canada Inc., the corporation which administers the Warranty on behalf of theBuilder and Warranty Insurer;
1.12 “Structural Defect” means any defect in the following load bearing components of a Residential Unit which impairs the structuralintegrity of the Residential Unit: piles, footings, foundation walls, grade beams, teleposts, bearing walls, floor joists, girders,posts and beams, and roof trusses, but excludes driveways, basement floors, garage floors, patios, sidewalks, retaining walls,swimming pools, and all other concrete work which is not load bearing;
1.13 “Warranty” means the warranty obligations of the Builder and the Warranty Insurer set forth in the Limited Warranty Certificate;and
1.14 “Warranty Insurer” means the insurance company that underwrites the Warranty.
Residential Warranty Company of Canada Inc.June 20, 2002 ABSF
2.0 Warranty of the Builder
2.1 The Builder warrants to the Purchaser that the Residential Unit was constructed in compliance with the Building Code.
2.2 Subject to the terms, conditions, exclusions and limitations contained in this Limited Warranty Certificate, and providing thePurchaser has complied with the obligations set forth in Section 6 hereof, the Builder agrees to:
2.2.1 Complete seasonal and other deficiencies stated on the Possession Certificate in a timely manner; and
2.2.2 Repair Defects and Structural Defects in the Residential Unit which are reported to the Builder in writing within one(1) year following the Possession Date.
2.3 The Builder shall assign to the Purchaser all manufacturers’ warranties on products supplied by the Builder.
3.0 Proscriptions
The following are not Defects or Structural Defects in the Residential Unit within the meaning of this Limited Warranty Certificate, andare not covered by the Warranty:
3.1 Materials, design or workmanship provided by the Purchaser;
3.2 Normal cracks in plaster, paint, drywall, masonry, stucco and concrete;
3.3 Shrinkage or warping of materials;
3.4 Defects arising from improper maintenance of the Residential Unit by the Purchaser, or resulting from inadequate heat orventilation;
3.5 Soil subsidence around or near the Residential Unit; and
3.6 Defects or Structural Defects apparent on the Possession Date and accepted by the Purchaser.
4.0 Warranty of the Warranty Insurer
Subject to the terms, conditions, exclusions and limitations set forth in this Limited Warranty Certificate, and providing the Purchaser hascomplied with the obligations set forth in Section 6 of this Limited Warranty Certificate:
4.1 Defects and Structural Defects
4.1.1 The Warranty Insurer agrees to repair Defects and Structural Defects that have not been repaired by the Builderwithin the first year following the Possession Date which are reported in writing to RWC within thirty (30) daysfollowing the first anniversary of the Possession Date, subject to a deductible payable by the Purchaser of TwoHundred and Fifty ($250.00) Dollars.
Limited Warranty Certificate Page 2
Residential Warranty Company of Canada Inc.
4.1.2 The Warranty Insurer agrees to repair Structural Defects that become apparent within nine (9) years following the firstanniversary of the Possession Date which are reported in writing to RWC immediately and within thirty (30) daysfollowing the tenth anniversary of the Possession Date, subject to a deductible payable by the Purchaser of FiveHundred ($500.00) Dollars.
4.2 Limitation of Liability
4.2.1 The Warranty Insurer’s liability under Section 4.1 for repair of Defects and Structural Defects is limited to and shallnot exceed Sixty Thousand ($60,000.00) Dollars in the aggregate.
4.3 Contract Completion
4.3.1 If the Builder defaults under the Contract or builders’ liens are registered against title to the Residential Unit and theBuilder becomes insolvent or subject to the provisions of the Winding Up Act or the Bankruptcy and Insolvency Act,or is liquidated or a receiver or receiver manager is appointed in respect to the assets of the Builder, then, subject tothe limitations, exclusions and conditions set forth in Section 4.3 hereof, the Warranty Insurer agrees to:
4.3.1.1 Complete construction of the Residential Unit in accordance with the Contract, subject to any amendmentsthereto as are deemed necessary by the Warranty Insurer regarding the completion date; and
4.3.1.2 Discharge from title to the Residential Unit builders’ liens registered thereon in connection withimprovements made to the Residential Unit under the Contract.
4.3.2 The Warranty Insurer’s liability under Sections 4.3.1.1 and 4.3.1.2 for completion of the Residential Unit anddischarging liens from title thereto is limited to and shall not exceed the sum of Twenty-Five Thousand ($25,000.00)Dollars in the aggregate.
4.3.3 The Purchaser cannot make any claim against the Warranty Insurer under Section 4.3, Contract Completion, where:
4.3.3.1 Any deposit or portion thereof paid under the Contract has been returned to the Purchaser;
4.3.3.2 The Purchaser is in default under the Contract or any obligation of the Purchaser set forth in this LimitedWarranty Certificate;
4.3.3.3 A period of one (1) year has expired since the date of the Builder’s default under the Contract or the dateon which the Purchaser took possession of the Residential Unit;
4.3.3.4 The Purchaser fails to comply with the Builders’ Lien Act of Alberta or similar legislation in the jurisdiction inwhich the Residential Unit is located, or adhere to or utilize standard legal practice customarily used in thejurisdiction where the Residential Unit is located to protect a Purchaser in respect to deficiencies under theContract or title to the Residential Unit; or
4.3.3.5 The Builder is not a member of the Program when the Contract is signed by the Purchaser.
Limited Warranty Certificate Page 3
Residential Warranty Company of Canada Inc.
4.4 Living Expenses
4.4.1 In the event the Residential Unit becomes uninhabitable due to a Defect or Structural Defect, the Warranty Insureragrees to pay to the Purchaser additional living and moving expenses incurred by the Purchaser of up to OneHundred ($100.00) Dollars per day, providing those expenses are pre-approved in writing by the Warranty Insurer.
4.4.2 The Warranty Insurer’s liability under Section 4.4 is limited to and shall not exceed an aggregate maximum limit of SixThousand ($6,000.00) Dollars.
4.5 Extended Coverage
4.5.1 Mechanical Systems
The Warranty Insurer agrees to repair Defects in the electrical, plumbing and heating systems incorporated into theResidential Unit where such Defects become apparent and are reported to RWC in writing within one (1) yearfollowing the first anniversary date of the Possession Date, subject to a deductible payable by the Purchaser of FiveHundred ($500.00) Dollars.
4.5.2 Foundation Water Penetration
The Warranty Insurer agrees to repair the foundation of the Residential Unit if water penetrates the foundation andcauses material damage, where such water penetration or resulting damage becomes apparent and is reported toRWC within four (4) years following the first anniversary date of the Possession Date, subject to a deductible payableby the Purchaser of Five Hundred ($500.00) Dollars.
4.6 Decisions of RWC
The decision of RWC regarding correction of any Defect or Structural Defect shall be final and binding on the Purchaser.
5.0 Dispute Resolution
5.1 If an unresolved dispute arises between the Builder and the Purchaser regarding the Builder’s obligations under the Warranty,either the Builder or the Purchaser may submit the matters in issue to RWC for final resolution.
5.2 RWC shall review the matters in issue and conduct such inspections of the Residential Unit as it deems necessary, with thecost of such inspections to be borne by the Purchaser and/or Builder as determined by RWC.
5.3 In order to inspect reported Defects, access to the Residential Unit shall be given to RWC and/or its consultants during normalbusiness hours upon request.
5.4 Within thirty (30) days following inspection of the Residential Unit by RWC and/or its consultants, RWC shall issue a writtenreport on the matters in issue and provide the Builder and Purchaser with a copy of the report. The recommendations andconclusions of RWC set forth in the report shall be final and binding on the Builder and the Purchaser.
Limited Warranty Certificate Page 4
Residential Warranty Company of Canada Inc.
5.5 If the report of RWC calls for repairs, the Purchaser shall give the Builder, RWC and its agents and subcontractors access tothe Residential Unit during normal business hours to undertake the repairs.
5.6 Commencement of court proceedings or other legal action by the Purchaser in respect to this Warranty shall void the Warrantycoverage in all respects.
6.0 Purchaser’s Obligations
The Purchaser shall:
6.1 Within one (1) year from the Possession Date, if any Defect in the Residential Unit is discovered, immediately advise theBuilder in writing of the details of the Defect. If the Builder fails to respond or remedy the Defect, the Purchaser shall give RWCwritten notice setting forth the details of the Defect within thirty (30) days following the first anniversary of the Possession Date.
6.2 Within ten (10) years from the Possession Date, if any Structural Defect in the Residential Unit is discovered, immediatelyadvise RWC in writing of the details of the Structural Defect.
6.3 Maintain the Residential Unit in a proper and prudent manner.
6.4 In the case of a claim arising under Section 4.3 of this Limited Warranty Certificate:
i) transfer and assign to the Warranty Insurer all legal rights and remedies the Purchaser has at law against the Builderand subcontractors under or in relation to the Contract; and
ii) pay to or to the order of RWC or the Warranty Insurer the unpaid balance of the Purchase Price under the Contractincluding holdbacks under the Builders’ Lien Act of Alberta.
6.5 Refer all unresolved disputes regarding the Warranty to RWC for investigation and final resolution.
7.0 Exclusions and Limitations
7.1 No repairs or remedial work will be undertaken by the Warranty Insurer unless:
7.1.1 Written notice of the Defect or Structural Defect has been given to the Builder and RWC within the time limitsspecified in this Limited Warranty Certificate; and
7.1.2 RWC has investigated or caused to be investigated the Defect or Structural Defect and the written report of RWCrequires that Defect or Structural Defect to be repaired.
The conditions set forth in Sections 7.1.1 and 7.1.2 hereof are conditions precedent which must be satisfied before anycorrective action or remedial work is undertaken or performed by the Warranty Insurer.
7.2 The Warranty contained in this Limited Warranty Certificate is the only warranty binding upon the Builder and the WarrantyIssuer.
7.3 The Warranty in this Limited Warranty Certificate covers repairs to the Residential Unit only, and the Warranty Insurer is notliable for property damage or damages resulting from physical injury or death of any person, or for any consequential damageswhatsoever.
Limited Warranty Certificate Page 5
Residential Warranty Company of Canada Inc.
7.4 The aggregate maximum liability of the Warranty Insurer for all claims arising under this Limited Warranty Certificate shall belimited to and shall not exceed One Hundred Thousand ($100,000.00) Dollars.
7.5 RWC is the administrator of the Warranty, and shall not under any circumstances be liable for performance of any obligationof the Builder or the Warranty Insurer under this Limited Warranty Certificate.
8.0 Termination of Warranty
The Warranty shall terminate and be of no further force or effect if:
8.1 The Residential Unit is not used as a single family residence or is not properly maintained;
8.2 All or any portion of the deposit paid under a Contract has been refunded to the Purchaser; or
8.3 The Purchaser fails to provide the Builder and RWC with the written notices required of the Purchaser within the time periodspecified in this Limited Warranty Certificate.
9.0 Subrogation
In the event RWC or the Warranty Insurer repairs any Defect or Structural Defect, RWC and the Warranty Insurer shall be subrogatedto all the Purchaser’s rights of recovery therefor against the Builder or any third party, and the Purchaser agrees to execute and deliverany and all documents and take any and all action as may be necessary to secure such rights, and shall do nothing to prejudice suchrights of subrogation.
10.0 Notices
Any notice required or permitted to be given to RWC by the Purchaser must be in writing and given within the time limits prescribed inthis Limited Warranty Certificate.
11.0 Transfer of Limited Warranty
Any unused portion of this Warranty shall extend to subsequent transferees of the Residential Unit, subject to the Purchaser’sobligations set forth in this Limited Warranty Certificate.
Limited Warranty Certificate Page 6
Residential Warranty Company of Canada Inc.
To be completed by Residential Realtors
ALBERTA REAL ESTATE ASSOCIATION CREDENTIAL FORM To be used for Alberta Crown Land Listings
- Updates required every 3 months – (Please type)
Real Estate Board Attach your resume and/or marketing plan & return to your Real Estate Board. (only forms fully completed with a resume will be considered by Alberta Infrastructure.) 1. Broker/Associate Broker/Agent Candidate:
(complete separate form for each Candidate) Number of years trading in real estate Number of years trading in this specialty (industrial/commercial) Brokerage Name: Broker’s Name: Address: City: Postal Code: Bus.: ( ) Fax.: ( ) Email: 2. VOLUME OF SALES BUSINESS IN THE PAST THREE YEARS
(Percentage) (Approx. $ Value) (# of Properties)
Industrial %
Commercial %
Investment %
Development Land %
Agricultural Land %
Recreation %
Residential (incl. Acreage) %
3. VOLUME OF LEASING AND SUBLEASING BUSINESS IN THE PAST TWELVE MONTHS
# of Listings Area Leased or Approx. $ Value Subleased
Retail m2 Office m2 Industrial m2 4. Geographic area of specialization
(city/town, North/South/West/East of city/town, etc.)
5. ADDITIONAL CREDENTIALS/EXPERTISE
(FRI, CCIM, FRAP, belongs to a national marketing network, etc.)
Note: Selected REALTORS will be asked by the Province to provide: 1. Comparative Market Evaluation (CME) for each of the properties to be sold, and 2. Bi -weekly or monthly activity reports identifying the number of showings and the number of calls received on each listing.)
6. CANDIDATE MARKETING EXPERIENCE
On the attached spreadsheet detail the history of your past listings and sales (minimum one year, three years preferable). Listing/Sale/Dual should be indicated as follows: Listing: Your listing, sold by another individual Sale: Your sale of another individual’s listing Dual: You sold your own listing
Property Type Address City/Town Property Description Listing/Sale/Dual
Date Sale Price
Industrial
123 Any Street Somewhere 15,000 sq.ft. shop on 2 acres land Dual July, 1999 $450,000
Attach your resume and/or marketing plan and return to: Calgary Real Estate Board, Attention Jeff Hill or Fax 265-9869
Section 18 (3) of the Real Estate Act states: Before accepting any money in connection with the carrying on of the business of an industry member, an industry member shall provide to the person on whose behalf the industry member is acting and any other person who is providing the money, full particulars in writing of: a) any direct or indirect interest that the industry member or any associate within the meaning of the Securities Act or
any officer, director or manager of the industry member or associate or, where the industry member is a partnership, any partner in the partnership, has or may acquire in the transaction.
and: CREB’s Standards of Business Practice, Article 13 states: A REALTOR shall not present an offer or acquire an interest in property either directly or indirectly for himself, any member of his or her immediate family or any entity in which the REALTOR has a financial interest, without making the REALTOR’s position known to the seller in writing. In selling/leasing property owned by the REALTOR, or in which the REALTOR has an interest, the interest shall be revealed to the Buyer/Tenant in writing. And therefore, let it be known that: I, am a registered/licensed real estate Agent/Broker employed with
in the City/Town of ___________________________
in the Province of Alberta.
I am acquiring an interest in the above mentioned property for my personal gain or loss and may resell the property at any time in the future. I am registered under the Real Estate Act of Alberta, and as such am making this statement for the purpose of complying with the Act and its provisions. Witness Signature of Agent/Broker I have received a copy of this Disclosure Statement and understand it fully. Witness Signature of Seller Witness Signature of Seller
June 2002
Date: Property Address:
Broker/Agent Buying on Own Behalf
DISCLOSURE STATEMENT
BUILDER / REALTOR REGISTRATION FORM DATE ____________________________ Guidelines REALTOR / Client Declaration The client agrees he/she has not had contact with the Builder or any of the Builder’s representatives within the past 60 days. The REALTOR and the Client have registered with the Builder’s representative on their initial visit to the showhome. This registration is valid in the community as named below. ___________________________________ ___________________________________ Client REALTOR ============================================================================ Community/Project Name ________________________________________________________________ REALTOR Name ________________________________________________________________ Company ________________________________________________________________ Business Phone ________________________ Residence Phone _______________________ Client Name ________________________________________________________________ Client Address ________________________________________________________________ Business Phone ________________________ Residence Phone _______________________ New Home Interests ________________________________________________________________ It is acknowledged that a Builder/Developer Purchase Agreement will be required to identify the terms of the sale between the Buyer and the Builder/Developer. ____ Buyer ____ REALTOR ============================================================================ TO BE COMPLETED BY THE BUILDER’S REPRESENTATIVE Terms of Registration ________________________________________________________________
________________________________________________________________ Commission ________________________________________________________________ Special Terms or Conditions ________________________________________________________________ Expiry Date of Registration ________________________________________________________________ Commission Payout Schedule ________________________________________________________________ CREB® / CRHBA Form Builder’s Representative Signature ____________________________________ 03/00
This is a REALTOR LinkTM print-only version. Original form is in triplicate: Builder Copy / REALTOR Copy / Buyer Copy
CONDOMINIUM SELLER’S PROPERTY DISCLOSURE STATEMENT
Purpose of Statement This statement is a voluntary disclosure of the condition of the Property for sale and other information known by the Seller. Some of the questions below may require examining the condominium plan or plans before they can be properly answered. This disclosure statement constitutes a representation under any Purchase Contract if so agreed in writing by the Seller and the Buyer. Date of Disclosure: ____________________________________________________________________________________________________________ Seller’s Name: ________________________________________________________________________________________________________________ Property Address: ____________________________________________________________________________________________________________
The Seller is responsible for the completion and accuracy of the answers on this form. The Seller should indicate either Y (yes), N (no), ? (no knowledge) or n/a (not applicable).
1. If your unit is a bareland condominium, do you have a real property report that reflects the current state of improvements on the unit (e.g. the dwelling, fences, decks, sheds, etc.)? Y N ? n/a
If yes, does the report have a stamp of compliance? Date ____________________________________ Y N ? n/a
2. Did you have a property inspection report completed when you purchased this unit? Y N ? n/a If yes, did it indicate any significant repairs that have not been done? Y N ? n/a
3. To the best of your knowledge, are the exterior walls of your unit above the basement level insulated? Y N ? n/a
4. To the best of your knowledge, are the basement walls of your building insulated? Y N ? n/a
5. To the best of your knowledge, is the ceiling insulated? Y N ? n/a
6. Has the wood stove/fireplace and/or insert been inspected and approved by local authorities? Y N ? n/a
7. Is the security system subject to a payout if the new buyer does not continue the present contract? Y N ? n/a
If yes, how much is the buyout? _________________________________________________________
8. Are all items to be included in the transaction free and clear of all encumbrances? Y N ? n/a If no, list items _______________________________________________________________________
9. Is any portion of the common property leased to you or another unit owner or any other party? Y N ? n/a If yes, is it a parking stall? a storage unit? other? ________________________
10. Have any special resolutions been passed by the corporation? Y N ? n/a
11. In what year was the last change in your condominium bylaws registered? _______________________
12. Is the Property subject to a recreational agreement? Y N ? n/a
13. Have you received any notice or claim affecting your unit or the Property from any person or entity? Y N ? n/a
14. Are you aware of any alterations to or on your unit made without a required permit? Y N ? n/a If yes, was an electrical inspection done? Y N ? n/a
15. Are you aware of any problems with the heating/air conditioning/ventilation system of your unit? Y N ? n/a
16. Are you aware of any problems with the plumbing system of your unit? Y N ? n/a
17. Are you aware of any problems with your unit’s electrical system, panel, switches or receptacles? Y N ? n/a
18. Are you aware of any problems with the jetted tub or hot tub? Y N ? n/a
19. Are there any hidden defects under the floor coverings or in the walls? Y N ? n/a
20. Are you aware of any roof leakage or unrepaired damage? Y N ? n/a
21. Are you aware of any moisture and/or water problems in the unit or any other part of the complex? Y N ? n/a
22. Are you aware of any past or present flooding or drainage problems in or around the unit? Y N ? n/a
23. Are you aware of any problems with any appliances/mechanical items to be included in this transaction? Y N ? n/a
24. Are you aware of any changes made to common areas adjoining your unit that are in contravention of the registered bylaws of your condominium corporation? Y N ? n/a
© May 2001/September 2002 The Alberta Real Estate Association
-2-
The Seller is responsible for the completion and accuracy of the answers on this form. The Seller should indicate either Y (yes), N (no), ? (no knowledge) or n/a (not applicable).
25. Are you aware of any special assessments approved or pending for the corporation? Y N ? n/a
26. Are you aware of any unregistered encroachments, easements or rights-of-way? Y N ? n/a
27. Is post tensioned cable used in the structure of any portion of your condominium? Y N ? n/a
28. Are you aware of any structural deficiencies in the complex? Y N ? n/a
29. Are you aware of any excessive settling, slippage, sliding or soil problems? Y N ? n/a
30. Are you aware of any problems with retaining walls cracking or bulging? Y N ? n/a
31. Are you aware of any problems with the common heating/air conditioning/ventilation system? Y N ? n/a
32. Are you aware of any problems with the common plumbing system? Y N ? n/a
33. Other than those stated above, are you aware of any other latent (hidden) defects on the Property? Y N ? n/a
34. Are you aware of any environmental concerns on the Property or otherwise affecting the Property? Y N ? n/a
35. Are you aware if an environmental audit has ever been completed for the complex? Y N ? n/a
Additional Comments and/or Explanations: (Use additional pages if necessary)
___________________________________________________________________________________________________________ ___________________________________________________________________________________________________________ ___________________________________________________________________________________________________________ ___________________________________________________________________________________________________________ ___________________________________________________________________________________________________________
___________________________________________________________________________________________________________
___________________________________________________________________________________________________________
___________________________________________________________________________________________________________ ___________________________________________________________________________________________________________ ___________________________________________________________________________________________________________ ___________________________________________________________________________________________________________ ___________________________________________________________________________________________________________ ___________________________________________________________________________________________________________ ___________________________________________________________________________________________________________ ___________________________________________________________________________________________________________
___________________________________________________________________________________________________________
Acknowledgment and Limitation of Statement The Seller states that the above information is true based on the Seller’s current actual knowledge as of the above date. Any important changes to this information made known to the Seller will be disclosed by the Seller to the Buyer prior to Completion Day. The Seller acknowledges receipt of a copy of this disclosure statement and agrees that a copy may be given to prospective Buyers. Seller: _______________________________________________ Seller: _____________________________________________________ The Buyer acknowledges that it has received and read a signed copy of this disclosure statement from the Seller or the Seller’s brokerage on the ___________ day of __________________________, ___________. The Buyer also acknowledges that this is not a warranty of any kind by the Seller or by any brokerage representing the Seller in this transaction, and is not a substitute for any inspection or warranties the Buyer may wish to obtain. The prudent Buyer will use this disclosure statement as the starting point for its own inquiries. Buyer: _______________________________________________ Buyer: _____________________________________________________ The Seller and the Buyer understand that neither the Seller’s brokerage or Buyer’s brokerage or their representatives warrant or guarantee the above information on the Property.
© Draft June 2000
CORPORATE RELOCATION BUYER/SELLER DISCLOSURE
This Schedule is attached to and forms part of the Purchase Contract # ________________
Section 20(h) of the Rules of Real Estate Act (Alberta) requires that a real estate brokerage cannot pay a commission or other remuneration directly or indirectly to an unlicensed party for services rendered in connection with a trade or dealing in real estate.
Real Estate Brokerage Name of Brokerage ______________________________________________________________________________________ Address _______________________________________________________________________________________________ City Province/State Postal/Zip Code Name of broker, associate broker or agent receiving the referral ___________________________________________________ The Brokerage and its broker, associate broker and agents will not be responsible for any maintenance requirements on vacant properties. Upon an early cancellation of any listing agreement, the Brokerage will charge the Relocation Company a fee of $___________. The Brokerage, its broker, associate broker and agent will work within the requirements of the Real Estate Act (Alberta). ____________________________________________________ ____________________________________________ Referred to Agent/Associate Broker Signature Broker Signature ____________________________________________________
Date
Transferee Name ________________________________________________________________________________________________ Current Address ________________________________________________________________________________________ City Province/State Postal/Zip Code Address of Purchase/Sale of Referral _______________________________________________________________________ Legal Description City Province/State Postal/Zip Code I am the transferee on these documents and I have a clear written understanding of agency as required under the Code of Conduct of the Real Estate Act (Alberta).
q It is my understanding as a transferee that I am under a non-exclusive (open) brokerage real estate transaction and I, the transferee, am entitled to choose my agent/associate broker freely, and that the agent/associate broker is not required to pay any referral fee whatsoever.
OR q It is my understanding that as a transferee that I am in an exclusive (closed) brokerage, that as a transferee I may
have an agent/associate broker assigned to me by the Relocation Company, and that the agent/associate broker may have to negotiate a referral fee with the Corporate Relocation Company, providing the agreement does not conflict with the Real Estate Act (Alberta).
___________________________________________________ ____________________________________________
Transferee Signature Date
Corporate Relocation Company Name ________________________________________________________________________________________________ Address ______________________________________________________________________________________________ City Province/State Postal/Zip Code The Corporate Relocation Company is a licensed real estate company in the province/state of __________________________. Name of the assigned licensed corporate relocation counsellor who will be handling all aspects in trade for the Transferee. __________________________________________. The corporate counsellor is licensed with (province/state regulatory body) __________________________________________. The Relocation Company agrees that it will practice within the requirements of the Real Estate Act (Alberta). ___________________________________________________ ____________________________________________
Relocation Company Agent’s Signature Date
Corporate Client Company Name ________________________________________________________________________________________ Address _______________________________________________________________________________________________ City Province/State Postal/Zip Code The Corporate Client understands that it or any other unlicensed entity is not entitled to receive a commission or other remuneration on the transaction described herein. The Corporate Client has a clear understanding of agency and how agency affects the various parties to this transaction. The corporate contract for this particular transferee is in a(n)
q non-exclusive (open) contract OR q exclusive (closed) contract ___________________________________________________ ____________________________________________
Signature of Corporate Client Date
MORTGAGE VERIFICATION FORM Approved by the Calgary Real Estate Board
Date: Please address replies to: Mortgage Co.: Name: Address: Company: Mortgage No.: Address: Fax No.: RE: Name: Address: Telephone: Fax: I/We hereby authorize you to provide with the mortgage information listed below and any other pertinent information they may require. Would you please return this form to the above address as soon as possible. Thank you. Owners’ Signature 1. The current mortgage balance of $ 2. Does this include accrued interest? How much accrued interest? $ 3. Mortgage Payment $ P.I. or P.I.T. (excluding life insurance) per 4. Arrears if any $ Date of last payment 5. If applicable, what is the tax account balance? $ 6. Interest rate of mortgage %. Term renewal date 7. Is this an insured mortgage? (i.e. CMHC, GEMICO) 8. What is the remaining amortization of the mortgage? 9. Can the mortgage be paid out? 10. If, so, how much would the payout penalty be? 11. Can the mortgage be paid out and remortgaged with your company? 12. The payout penalty, if any? 13. Can this mortgage be assumed without qualifying? 14. Do you have a copy of the Survey Certification or the Real Property Report?
If yes, please enclose a photocopy for the benefit of your client. 15. Please indicate if there are any other special terms or prepayment privileges of this mortgage. .
The information above is accurate and has been checked by our Mortgage Department.
Confirmed by: Title: Date:
Revised June 2002
NEW HOME SCHEDULEThis Schedule is attached to and forms part of the Residential
Real Estate Purchase Contract # ____________________ (the “Purchase Contract”)
Not to be used for the purchase of new condominiums.
This Schedule concerns an agreement for the purchase and sale of a new home (the “Home”), as follows:
Buyer: _______________________________________________________________________________________________________
Builder: ______________________________________________________________________________________________________
Municipal Address of the Home: __________________________________________________________________________________
____________________________________________________________________________________________________________
The following terms apply to the purchase and sale of the Home. If these terms conflict with other terms of the Purchase Contract, the terms inthis Schedule will prevail.
1. Plans and Specifications: The Builder will construct (or complete construction) of the Home using:
q the Builder's standard floor plans, standard specifications (the "Specifications") and standard choice of colours and finishingmaterials (the "Selections") for the _____________________________________________________________ model being built;
q the Specifications and the Selections used in the Builder's showhome located at______________________________________________________________________________________________________;
q the floor plan, Specifications and Selections attached to this Schedule;
q other (please specify) _____________________________________________________________________________________
The Builder will ensure that the Home complies with all applicable building codes.
2. Selections and Extras: The Builder will complete the Home according to one of the following:
q the Selections the Buyer makes based on the Specifications;
q the Selections the Builder has made;
q ______________________________________________________________________________________________________
______________________________________________________________________________________________________
3. Changes: The Builder reserves the right to make minor changes to the Home or make the Selections where the Buyer neglects to do sowithin the Builder's schedule. Minor changes are changes that do not detract from the value or significantly alter the appearance of theHome. If the Buyer requests installation of items that are not included in the price of the Home, the Builder will provide a change orderform describing the item to be installed and the price to be paid for the change. The Buyer must pay for the extras when the change orderis signed.
4. Completion Day: The Builder will use reasonable efforts to ensure the Home is ready for occupancy on the Completion Day. The Buildercannot guarantee that the Home will be ready on time. Accordingly, if delays occur for reasons which are not within the control of theBuilder, the Builder agrees to complete the Home as soon as practicable and to give the Buyer at least 30 days notice of the revisedCompletion Day. Notwithstanding the foregoing, if an occupancy permit is not issued within 60 days of the original Completion Day, theBuyer may terminate the Contract and receive a refund of all funds paid.
September 2002 The Alberta Real Estate Association
5. GST: The price of the Home includes net GST payable, being GST less the GST New Housing Rebate (the "GST Rebate"). The Buyerwarrants that the Buyer qualifies for the GST Rebate and will apply for it and assign it to the Builder. If, for whatever reason, the Builderdoes not receive the GST Rebate, the Buyer will pay the Builder an amount equal to the GST Rebate that would otherwise have beenreceived by the Builder in addition to the Purchase Price.
6. Unfinished Work: The Buyer acknowledges that the Home could be ready for occupancy without all work being completed. In thatsituation, the Builder's lawyer will keep an amount in trust equal to the Builder's estimated cost of completing the work. These funds willbe released to the Builder as each item is completed.
7. Builders' Lien Holdbacks: If the Buyer enters into this Contract before the drywall stage has been completed, the Buyer will be treatedas an "owner" under the Builders' Lien Act. In this case, the Builder's lawyer will keep an amount in trust equal to the holdbacks requiredunder the Act.
8. Interest: No interest shall be payable on holdbacks maintained by the Builder's lawyer for unfinished work or Builders' liens.
9. Warranty: The Builder warrants that the Home is covered by the following:
q the Alberta New Home Warranty Program (attach Appendix A)
q the National Home Warranty Program (attach Appendix B)
q the Residential Warranty Company of Canada (attach Appendix C)
q other (please specify) _______________________________________________________Attach warranty as an appendix.
The Buyer is advised to obtain a copy of the applicable warranty documentation as limitations may apply.
Any disputes arising under the Purchase Contract shall be resolved through the process specified by the applicable warranty program(if any).
10. Visiting the Home: The Builder reserves the right to restrict access to the site during construction. Any party visiting the Home underconstruction does so at its own risk. The Buyer is encouraged to view the Home only when accompanied by the Builder's representative.
11. Completion of Subdivision: On the Completion Day, the subdivision developer may not have completed all of its obligations to themunicipality. Accordingly, title to the Buyer's home may be subject to a development agreement caveat in favour of the municipality.Although such a caveat will be treated as a permitted encumbrance for closing purposes, this agreement does not transfer the obligationto complete the subdivision to the Buyer.
_________________________________________________ _________________________________________________________Date Builder’s Signature
_________________________________________________ _________________________________________________________Buyer’s Signature Buyer’s Signature
_________________________________________________ _________________________________________________________Witness Witness
This form was developed with a grant from the Alberta Real Estate Foundation.
NON DISCLOSURE OF BUYER/SELLER’S NAME
M.L.S.# Real Estate Listing Contract #
Real Estate Purchase Contract # Between:
BUYER/SELLER THE BROKERAGE (the “Brokerage”) Last Name First Name Brokerage Name Last Name First Name Broker/Manager/Agent IN CONSIDERATION of the Calgary Real Estate Board Co-Operative Ltd.’s Rules and Regulations, I/we hereby acknowledge the written Broker/Manager/Agent request from that their said name Buyer/Seller not be disclosed on M.L.S. Listing/Purchase information. I/We request that the Calgary Real
Buyer/Seller Estate Board Co-Operative Ltd. not disclose our name on M.L.S. Listing/Purchase information.
Buyer/Seller Witness
Buyer/Seller Witness Broker/Manager/Agent Dated this day of , . Buyer/Seller acknowledges receiving a copy of this Agreement
REAL ESTATE LISTING CONTRACTEXTENSION/AMENDMENT AGREEMENT
MLS# _______________________________________ Real Estate Listing Contract # ____________________________
TO: _________________________________________________________________________________________________________________________Brokerage Name (the “Brokerage”)
My/Our Property known as:_____________________________________________________________________________________________________________________________.Municipal Address
Plan _________________________________________________ Block _____________________ Lot _______________ Subdivision _______________OR
ORCondo. Unit No. ________________________________ Plan No. _______________________________ Project Name ___________________________
Current Price $ ______________________________________________ Current Expiry Date ________________________________________________
I/We hereby agree to the following changes with reference to the above listing:1. Listing Extension:
The expiry date of the said Real Estate Listing Contract is extended until 11:59 p.m. on ____________________________________________________________________________________________________, _________________
2. Price Change: The asking price for the Property will be changed to $ ______________________________________________________________________
effective as of ________________________________________________________________________________________, ________________.
3. Other Amendments (if any): ___________________________________________________________________________________________
______________________________________________________________________________________________________________________
______________________________________________________________________________________________________________________
______________________________________________________________________________________________________________________
______________________________________________________________________________________________________________________
______________________________________________________________________________________________________________________
______________________________________________________________________________________________________________________
______________________________________________________________________________________________________________________
______________________________________________________________________________________________________________________
______________________________________________________________________________________________________________________
______________________________________________________________________________________________________________________
______________________________________________________________________________________________________________________
______________________________________________________________________________________________________________________
______________________________________________________________________________________________________________________
Dated this _______________________day of ____________________________________________________________________, ___________________.
__________________________________________________________________Seller
_________________________________________________________ __________________________________________________________________Signature of broker, associate broker or agent authorized to sign on behalf Sellerof the Brokerage
_____________________________________________________________________________________Address
Seller acknowledges receiving a copy of this Agreement _____________________________________________________________________________________
September 2002
W. of Range Township Section Part Acres
1
Calgary Real Estate Board Jan. 13/04
MEMBER’S SUPRA KEYHOLDER LEASE AGREEMENT THIS KEYHOLDER LEASE AGREEMENT (“Lease”) is entered into as of _______________20 ___, by and between Calgary Real Estate Board (“CREB”) and its Member (# __ __ __ __ __ __) herein referred to as (“Keyholder”) __________________________________________________ (please print name) and covering the following Equipment (together, the “Equipment”): DisplayKEY (Serial # _________________________________) DisplayKey Cradle (Serial # _________________________________) KEYHOLDER and CREB agree as follows: CREB hereby leases to Keyholder, and Keyholder hereby leases from CREB, the Equipment (which may be new or refurbished), under the terms and conditions below and on page 2 (“Other Terms and Conditions of the Lease”):
1. Term of Use: This Lease shall commence on the date set forth above and have a term (“Term”) until January 31, 2005, unless terminated earlier or extended pursuant to the provisions of this Lease. The Term shall automatically extend for successive additional one (1) year periods, ending January 31, 2010, unless (i) either party provides a written notice of non-extension at least sixty (60) days in advance of the then current Term or (ii) this Lease is terminated in accordance with Section 6 below. 2. Equipment Deposit: CREB hereby acknowledges ___ current or ___ previous receipt of the sum of $50.00 from the Member as an Equipment deposit (“Deposit”) to be held by CREB. In the event of violation of any provision of this Lease, the Deposit shall be forfeited to CREB. The Deposit shall be refunded, without interest, upon return of the Equipment to CREB prior to any breach of this Lease.
3. Risk of Loss; Return of Equipment: a. No loss, damage or destruction to the Equipment shall relieve Keyholder of any obligation under this Lease, except to the extent any such loss, damage or destruction is directly
caused by the negligence of CREB. The cost for replacing any Equipment that is lost, damaged or destroyed is forfeiture of the Keyholder’s $50.00 deposit, plus $175.00 for the DisplayKEY Cradle and $250.00 for the DisplayKEY. Replacements may be refurbished Equipment. If Equipment is lost, damaged or destroyed and not replaced, the cost to Keyholder is forfeiture of the Keyholder’s $50.00 deposit, plus $175.00 for the DisplayKEY Cradle plus an amount for the DisplayKEY equal to $400.00 if replaced in 2004; $350 in 2005; $300 in 2006; $250 in 2007, 2008, 2009 or 2010.
b. At the expiration of the Term, Keyholder, at Keyholder’s expense and risk, shall immediately return or cause the return to CREB, all of the Equipment with all Software and any components included within the Service (as defined on page 2) that have been leased to Keyholder pursuant to this Lease. The Equipment and components used in connection with the Service shall be returned in good condition, repair and working order, ordinary wear and tear excepted. 4. Security of Equipment: By executing this Lease, Keyholder acknowledges that it is necessary to maintain the security of the Equipment and the personal identification number of each piece of Equipment, and of personal identification numbers, to prevent the use of the Equipment by unauthorized persons, and Keyholder agrees to use her or his best efforts to ensure the confidentiality and integrity of all components of the Equipment and its use. 5. Fees and Payments: During the term of this Lease, but excluding any part of the month of January and February, 2004, Keyholder agrees to pay to CREB a monthly fee (“Systems Fee”) of $20.00 (twenty dollars) plus applicable tax (presently G.S.T.), without setoff for any reason, for the lease and use of the Service both during the original Term and during renewals through to January 31, 2010, unless the Lease is earlier terminated as permitted in Section 6. Keyholder shall be billed by CREB each month, except for January and February, 2004, and payment is due in accordance with CREB policy for other invoiced charges to Members. 6. Termination: a. Keyholder may terminate this Lease at any time by returning the Equipment to CREB and paying CREB any amounts owing prior to such termination, including (i) any applicable damages for the failure to return the Equipment as set forth in Section 3 (a) hereof and (ii) any Systems Fees owing prior to such termination which remain unpaid.
b. Keyholder acknowledges that, in order to make the Service available to Keyholder, CREB and Supra Key Control Limited (“Supra”) entered into a Services and Administration Agreement (the “Services Agreement”) that provides, among other things, the terms under which Supra will provide the Service to CREB. CREB may terminate this Lease upon termination of its Services Agreement with Supra, for any reason, including without limitation, default by CREB under the Services Agreement or an upgrade of the Service by CREB. Upon termination, Keyholder shall be obligated to satisfy the obligations set forth above in Section 5.
c. Any unused portion of any Systems Fee for use of the Service previously paid shall be forfeited by Keyholder and Keyholder shall not be entitled to a refund.
7. Indemnification: The Keyholder agrees to indemnify, defend and hold harmless CREB and/or Supra, and their respective directors, officers, agents, representatives, employees, successors and assigns, from and against any and all claims, demands, actions, losses, damages, injuries, obligations, liabilities and costs and expenses of every kind or nature (including reasonable attorneys’ fees, incurred by CREB and/or Supra as a result of damage or injury to premises or persons arising from the use, by the Keyholder or any other person, of the Equipment. _______________________________________________ Public ID: _______________________________________ (Keyholder’s Signature) Brokerage Name:_______________________________ E-mail address:_______________________________________ _______________________________________________ Date: _______________________________________ (for Calgary Real Estate Board)
MEMBER’S SUPRA KEYHOLDER LEASE AGREEMENT Other Terms and Conditions of the Lease
1. In addition to the Equipment, CREB hereby grants to Keyholder (i) a limited non-exclusive, non-transferable sub-license to use the network, the use of which CREB licenses from Supra, which is necessary for the use and operation of the Equipment (the “Network”) for the Term (as defined in Section 1 on page 1) and (ii) a limited, non-exclusive, nontransferable license to use the Software CREB licenses from Supra (the “Software”) for the Term. The Equipment, Software and Network are collectively referred to herein as the “Service.” The Service is more fully described in the User’s Guide published by Supra, which will be provided to Keyholder and is incorporated herein by reference. Keyholder may have previously purchased keyboxes from CREB, which are not included in the definition of the Equipment. 2. Keyholder hereby acknowledges and agrees that the Network and Software are and shall at all times remain the property of Supra, and the Equipment remains the property of CREB. All additions, attachments, replacement parts and repairs to the Equipment, and any Replacements shall become part of the Equipment and shall, without further act, become the property of CREB. The Software and all applicable rights in patents, copyrights, trade secrets, and trademarks are and shall at all times remain the property of Supra. 3. Keyholder acknowledges and agrees that she or he must comply with the Rules and Regulations relating to the use of the Service which are set forth in the User’s Guide and with the Rules and Regulations of CREB.
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4. Keyholder further acknowledges that neither the Service, nor any other Supra product or the Equipment used in connection with the Service, is a security system. 5. Keyholder acknowledges that, in order to make the Service available to Keyholder, Supra and CREB entered into a Services and Administration Agreement with a Start Date of January 26, 2004 (the “Services Agreement”), that provides, among other things, the terms under which Supra will provide the Service to CREB. Keyholder acknowledges that, if the Services Agreement is terminated for any reason during the Term of this Lease, the Service will no longer be available to Keyholder and this Lease will terminate. Keyholder further acknowledges and agrees that CREB may elect a different Service or choose to upgrade the Service at any time during the Term of this Lease, which may result in an increase of the Systems Fee (as defined in Section 5 on page 1) and/or the termination of this Lease. Except as the rights and obligations of Keyholder and CREB under this Lease may be affected as described in the two preceding sentences, the rights and obligations between Keyholder and CREB with respect to the Service are governed solely by the terms and conditions of this Lease. Keyholder acknowledges that failure of CREB to perform any of its respective obligations under the Services Agreement may detrimentally affect Keyholder’s use of the Service. 6. In the Services Agreement, Supra has reserved the right to discontinue any item of Equipment used in connection with the Service upon the provision of one (1) year prior written notice to CREB. If Supra discontinues any item of Equipment, the Equipment leased hereunder shall continue to be completely compatible with and shall function with the Service. If the Equipment leased hereunder is lost, destroyed or damaged, CREB may replace that Equipment with refurbished Equipment (“Replacement”) which shall be completely compatible with and shall function with the Service, and shall offer the same level of functionality as the Equipment currently offered. 7. Representation and Covenants by the Keyholder:
a. That neither CREB nor Supra shall be liable for any compensatory, indirect, incidental, consequential, punitive, reliance or special damages, including, without limitation, damages for lost profits, advantage, savings or revenues of any kind or increased cost of operations, arising out of the use or inability to use the Service for any purpose whatsoever whether or not Keyholder has been advised of the possibility of such damages.
b. That Keyholder will not (i) use or gain access to the source code for the Software; (ii) alter, reproduce, modify, adapt, translate, reverse engineer, decompile, disassemble or prepare derivative works based upon the Software; or (iii) provide or otherwise make available the Software or any part or copies thereof to any third party.
c. That Keyholder will provide CREB with written notice of any legal proceeding or arbitration in which Keyholder is named as a defendant and that alleges defects in the Equipment or KeyBoxes within ten (10) days after Keyholder receives written notice of such action.
d. The obligations set forth in this Section shall survive termination of this Lease. 8. Default:
a. Each of the following events shall be an Event of Default by Keyholder under this Lease: (i) Keyholder’s failure to pay, for any reason, any amount required under this Lease within fifteen (15) days after the date that such payment is due; or (ii) The commencement of either an involuntary or voluntary action under any bankruptcy, insolvency or other similar; provided, however, that the commencement of
any involuntary case or proceeding will not be an Event of Default under this Lease if such case or proceeding is dismissed within sixty (60) days after it was commenced.
b. An Event of Default by CREB under this Lease will occur upon the termination for any reason of its Services Agreement with Supra. 9. Rights and Remedies:
a. Upon the occurrence of an Event of Default by Keyholder, CREB may, at its sole option and without limitation or election as to other remedies available under this Lease or at law or in equity, exercise one or more of the following remedies: (i) Terminate this Lease and demand the return of any Equipment to CREB; (ii) Terminate one or both of Keyholder’s sub-licenses to use the Network and to use the Software; (iii) Direct Supra to deactivate Keyholder’s access to the Service or any component of Service;
(iv) Bill the Keyholder for any outstanding amounts owed under this Lease, including any applicable liquidated damages for the failure to return the Equipment; and/or (v) Take any and all actions necessary to collect all amounts currently due and owing under this Lease, including any and all costs and expenses of every kind or nature incurred by CREB in connection with the exercise of its rights and remedies under this Lease.
b. Upon the occurrence of an Event of Default by CREB or termination of this Lease, all of Keyholder’s obligations under this Lease shall terminate, except that Keyholder shall be required to return the Equipment to CREB and to pay CREB any outstanding amounts owed under this Lease, including any applicable liquidated damages for the failure to return the Equipment.
c. If CREB deactivates the Service because of a default by Keyholder under this Lease, but does not otherwise terminate this Lease, Keyholder will be entitled to seek to have the Service reactivated. In order to so, Keyholder shall be required to cure any and all existing defaults, and to pay any and all outstanding amounts owed under this Lease and the reasonable costs and attorneys’ fees incurred by CREB in connection with collecting under this Lease. After confirmation of the curing of such defaults and the receipt of payment of such amounts, CREB shall reactivate the Equipment within twenty-four (24) hours of the curing of default and receipt of payment.
d. In the event that CREB institutes any action for the collection of amounts due and payable hereunder, Keyholder shall pay, in addition to the amounts due and payable under this Lease, all reasonable costs and attorneys fees incurred by CREB in connection with collecting under this Lease. Keyholder expressly waives all rights to possession or use of the Service or the Equipment or any component thereof after the occurrence of an Event of Default, and waives all claims or losses caused by or related to any repossession or termination of use.
e. CREB’s failure or delay in exercising any right or remedy under this Lease shall not operate as a waiver thereof or of any subsequent breach or of such right or remedy. Keyholder understands that CREB’s rights and remedies are cumulative, not exclusive, and no exercise of any remedy shall preclude the exercise of another remedy.
10. Mediation/Arbitration; Litigation:
Any controversy or claim arising out of or relating to this Lease shall be resolved by mediation, or failing successful mediation, then by binding arbitration in accordance with the rules of the Alberta Arbitration & Mediation Society or such other rules as may be agreed to by the parties. The substantially prevailing party in any arbitration under this Lease shall be entitled to recover from the other as part of the arbitration award reasonable costs and attorneys fees. Any arbitration award may be enforced by a court of competent jurisdiction in accordance with applicable Alberta law. In the event that legal action to enforce the arbitration award is necessary, the substantially prevailing party shall be entitled to recover its reasonable costs and attorneys fees in such action and in any appeals therefrom or reviews thereof.
11. Notices:
All notices hereunder shall be sent by (i) hand-delivery, (ii) facsimile, (iii) certified mail, return receipt requested, postage prepaid, (iv) overnight delivery service, or (v) e-mail, to the party being noticed at the address on file at CREB for the Brokerage Name set forth in the signature block of this Lease, or for CREB at 300 Manning Road NE, Calgary, Alberta or to such other address as a party shall subsequently specify to the other party in writing. Notification to the Membership Department of CREB shall suffice for any Member of CREB. Notices shall be deemed to have been delivered when received; if hand-delivered or sent by facsimile or certified mail, three (3) days after the day deposited in the mail; or one (1) day after the day deposited with an overnight delivery service.
12. Warranty:
Keyholder acknowledges that the Equipment is warranted by Supra, and not by CREB, against defects in workmanship and/or materials, The Equipment is warranted by Supra against defects in workmanship and/or materials, to be fit for its intended purpose and to conform in all material respects to its written specifications for the term of the Lease. Supra shall, without charge, repair or replace such defective or nonconforming component during the warranty period. Keyholder must return any defective system component under warranty to CREB at Keyholder’s sole cost and expense, and CREB shall provide a workable substitute piece of Equipment during the repair period. This warranty does not extend to any damage caused by accident, abuse, neglect or misuse of system components. Keyholder agrees to cooperate with CREB and Supra by performing diagnostic tests provided to Keyholder when Keyholder initially seeks warranty service.
13. General Provisions:
a. This Lease constitutes the entire agreement between CREB and Keyholder relating to the lease of Equipment and use of the Service. b. Provided that Keyholder has returned to CREB all keys previously leased by CREB to Keyholder, all prior leases between CREB and Keyholder for such keys are hereby
terminated effective as of the parties’ execution of this Lease. c. This Lease shall be effective and binding upon the parties hereto when fully executed by both parties. This Lease may be executed in a number of counterparts, each of which will be
deemed an original and when taken together shall constitute one agreement. d. This Lease shall be amended or modified only by a written agreement signed by CREB and Keyholder. e. Any waiver or consent by any party to any breach by the other, whether express or implied, shall not constitute a consent to or waiver of any other or subsequent breach. f. All agreements, representations and warranties contained in this Lease shall survive the expiration or other termination of this Lease. g. If any provision of this Lease is unenforceable, such unenforceability shall not affect the enforceability of the remaining provisions of this Lease. h. This Lease shall be governed by the laws of the Province of Alberta. i. This Lease shall be binding upon and inure to the benefit of CREB, and its successors and assigns, and Keyholder and its permitted successors and assigns.
URBAN RESIDENTIAL PROPERTY DISCLOSURE STATEMENT
Purpose of Statement This statement is a voluntary disclosure of the condition of the Property for sale and other information known by the Seller. This disclosure statement constitutes a representation under any Purchase Contract if so agreed in writing by the Seller and the Buyer. Date of Disclosure: _______________________________________________________________________________________________ Seller’s Name: __________________________________________________________________________________________________ Property Address: ________________________________________________________________________________________________
The Seller is responsible for the completion and accuracy of the answers on this form. The Seller should indicate either Y (yes), N (no), ? (no knowledge) or n/a (not applicable).
1. Does the Property comply with the current government and municipal guidelines or constitute a lawful, non-conforming building? Y N ? n/a
2. To the best of your knowledge, are the exterior walls (above grade) insulated? Y N ? n/a
3. To the best of your knowledge, is the ceiling insulated? Y N ? n/a
4. To the best of your knowledge, are the basement walls insulated? Y N ? n/a
5. Is the basement a preserved wood foundation or concrete? ____________________________________ If preserved wood foundation, is an engineer’s certificate available? Y N ? n/a
6. Did you have a home inspection report completed when you purchased the Property? Y N ? n/a If yes, did it indicate any significant repairs needed that have not been done? Y N ? n/a
7. Do you have a real property report that reflects the current state of improvements to the Property? (e.g. detached garage, fences, decks, sheds, etc.) Y N ? n/a Does the real property report have a stamp of compliance? If yes, date __________________________ Y N ? n/a
8. Has the wood stove/fireplace insert been inspected and approved by local authorities? Y N ? n/a
9. Are all items to be included in the transaction free and clear of all encumbrances? Y N ? n/a If no, list items _______________________________________________________________________
10. Does the Property contain unauthorized accommodation? Y N ? n/a If yes, alter Listing and Purchase Contracts.
11. Are you aware of any additions or alterations made without a required permit? Y N ? n/a
12. Are you aware of any structural problems with the house and/or improvements? Y N ? n/a
13. To the best of your knowledge, have any improvements ever contained asbestos? Y N ? n/a
14. To the best of your knowledge, have any improvements ever contained urea formaldehyde insulation? Y N ? n/a
15. Are you aware of any unregistered encroachments, easements or rights-of-way on this Property? Y N ? n/a
16. Are you aware of any unregistered encroachments, easements or rights-of-way by your Property on neighbouring properties? Y N ? n/a
17. Have you received any notice or claim affecting the Property from any person or entity? Y N ? n/a
18. Have you received any insurance settlements where the work has not been done? Y N ? n/a
19. Are you aware of any roof leakage or unrepaired damage? (age of roofing _______ years) Y N ? n/a Indicate type of roofing: ________________________________________________________________
20. Are you aware of any problems with the heating/air conditioning/ventilation systems? Y N ? n/a
21. Are you aware of any problems with the electrical system, switches or receptacles? Y N ? n/a
22. Are there any extension cords stapled to baseboards or under carpets/rugs? Y N ? n/a
23. Are there any hidden defects under the floor coverings or in the walls? Y N ? n/a
24. Are you aware of any problems with the plumbing system? Y N ? n/a
25. Are you aware of any problems with a jetted tub, hot tub and/or swimming pool? Y N ? n/a
© May 2001/September 2002 The Alberta Real Estate Association
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The Seller is responsible for the completion and accuracy of the answers on this form. The Seller should indicate either Y (yes), N (no), ? (no knowledge) or n/a (not applicable).
26. Are you aware of problems with any appliances or mechanical items to be included in this transaction? Y N ? n/a
27. Are you aware of any moisture and/or water problems in the house or any other part of the Property? Y N ? n/a
28. Are you aware of any past or present flooding or drainage problems on the Property? Y N ? n/a
29. Are you aware of any excessive settling, slippage, sliding or soil problem? Y N ? n/a
30. Does the Property have any problems with retaining walls cracking or bulging? Y N ? n/a
31. Are you aware of any damage due to weather, fire, water, insects or rodents? Y N ? n/a
32. Other than those stated above, are you aware of any other latent (hidden) defects on the Property? Y N ? n/a
33. Are you aware of any environmental concerns on the Property or otherwise affecting the Property? Y N ? n/a If yes, has an environmental audit been completed? (if yes, attach copy) Y N ? n/a
34. Are you aware of any fees for usage of parks, lakes, community centres, etc.? (amount $_____________) Y N ? n/a
35. Is this Property of historical significance in the opinion of a government authority? Y N ? n/a
36. Are there any conditional sales contracts or equipment leases? (e.g. water softener, alarm system) Y N ? n/a If yes, what is the payout? _____________________ Number of months remaining _______________
Additional Comments and/or Explanations: (Use additional pages if necessary) ____________________________________________________________________________________________________________________
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________________________________________________________________________________________________________ Acknowledgement and Limitation of Statement The Seller states that the above information is true based on the Seller’s current actual knowledge as of the above date. Any important changes to this information made known to the Seller will be disclosed by the Seller to the Buyer prior to Completion Day. The Seller acknowledges receipt of a copy of this disclosure statement and agrees that a copy may be given to prospective Buyers. Seller: _____________________________________________ Seller: ________________________________________________ The Buyer acknowledges that it has received and read a signed copy of this disclosure statement from the Seller or the Seller’s brokerage on the ___________ day of __________________________, ___________. The Buyer also acknowledges that this is not a warranty of any kind by the Seller or by any brokerage representing the Seller in this transaction, and is not a substitute for any inspection or warranties the Buyer may wish to obtain. The prudent Buyer will use this disclosure statement as the starting point for its own inquiries. Buyer: _____________________________________________ Buyer: _______________________________________________ The Seller and the Buyer understand that neither the Seller’s brokerage or Buyer’s brokerage or their representatives warrant or guarantee the above information on the Property.