Residential Real Estate Purchase Contract (Page 4 of 5) in pdf

(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 sole benefit of the Buyer and the Seller's Conditions are for the sole

benefit of the Seller.

8.4

The Buyer and the Seller may unilaterally waive or satisfy their Conditions by giving a Notice to the other party (the "Notice") on the stated

Condition Day.

8.5

Provided that the Buyer or the Seller, as the case may be, uses reasonable efforts to satisfy the Condition(s), if the Notice has not been given

on the stated Condition Day, then this Contract is ended.

REMEDIES/DISPUTES

9.1

If the Seller or the Buyer fails or refuses to complete this Contract according to its terms, then the other party may pursue all available

remedies. The Seller's remedies include keeping the Deposits and claiming additional damages. Both the Seller and the Buyer can claim

reasonable costs including legal fees and disbursements on a solicitor/client full indemnity basis.

9.2

If the Seller must restore title to the Land, enforce a lien against the Property or regain possession of the Property due to the Buyer's default,

then the Buyer will pay the Seller's reasonable costs including legal fees and disbursements on a solicitor/client full indemnity basis.

ADVICE/DISCLOSURE

10.1

This Contract is intended to create binding legal obligations. The Seller and the Buyer should read this Contract carefully and are free to obtain

legal advice before signing.

10.2

The Buyer may wish to obtain an independent property inspection and verify the measurements of the Property.

10.3

Unless there is a dual agency or another written agreement, the Seller's brokerage represents the Seller as Seller's Agent and does not have a

fiduciary relationship with the Buyer, and the Buyer's brokerage represents the Buyer as Buyer's Agent and does not have a fiduciary

relationship with the Seller.

10.4

The Seller and the Seller's brokerage have signed a Listing Contract. The Seller directs the Seller's lawyer to honour the terms of the Listing

Contract and in particular to close the transaction according to the irrevocable assignment of the Purchase Price contained in the Listing

Contract.

10.5

This Contract may be signed and sent by fax and this procedure will be as effective as signing and delivering an original copy.

DEFINITIONS

11.1

In this Agreement:

(a)

Business Day means a day when both the Land Titles Office and the Schedule "A" 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 the Buyer's lawyer.

REPRESENTATIVES/NOTICE

12.1

the Representatives identified in clause 12.2 represent the Seller and the Buyer.

12.2

or the purposes of giving and receiving any notice referred to in this Contract, all notices must be in writing and 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 the purposes of this

Contract.

Residential Real Estate Purchase Contract Page 4

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