Country Land Indeed, LLC — Purchase Terms of Use

Country Land Indeed, LLC | 138 E 12300 S, Ste C-1068, Draper, UT 84020 | Phone: 801-783-3106 | Email: countrylandindeed@gmail.com

1. Agreement Overview

By purchasing property from Country Land Indeed, LLC (“Seller”), the Buyer enters into a legally binding Agreement for the Sale and Purchase of Real Estate for vacant residential land, with no broker or agent involved. This contract has substantial legal consequences. Buyers are advised to consult legal and tax counsel before signing.

2. Property

The property purchased is identified by its Parcel ID and Legal Description as specified in the signed contract. The property is sold in its current “as-is” condition. Buyer acknowledges having personally inspected and accepted the property prior to signing.

3. Purchase Price & Payment Options

Purchases may be structured as either a Cash Sale or an Owner-Financed (Terms) Sale:

Cash Sale — The full purchase price is paid upfront. This contract is not contingent on financing.

Terms (Owner-Financed) Sale — Seller finances a portion of the purchase price. Monthly payments include principal and interest, a Note Servicing Fee, and prorated estimated property taxes. The specific purchase price, down payment, loan amount, interest rate, monthly payment, and term length are detailed in the signed contract documents.

A one-time processing fee is due at signing for both purchase types.

4. Down Payment

The down payment amount is deposited directly with Country Land Indeed, LLC at the time of signing and is acknowledged in the Receipt section of the contract.

5. Financing Terms (Terms Sale)

Payments begin approximately 30 days from the contract date and are automatically drafted monthly.
There is no prepayment penalty — the note may be paid off at any time, with only accrued interest assessed to the date of payoff.
Payments are applied in this order: accrued unpaid interest first, then late charges, then principal.
Property taxes are prorated and added to the monthly payment. If the county adjusts property taxes, the monthly payment will reflect the change.
If you sell the property before payoff, the remaining balance is still owed to Seller.

6. Late Payments & Default

A 15-day grace period applies to each monthly payment.
A $25 late fee is charged if payment is not received within the grace period.
If a payment remains unpaid for 35 days, Seller will notify Buyer by phone, email, or text, giving 15 days to bring the account current.
If full payment is not received within that 15-day notice period, the contract may be terminated, the property re-sold, and Buyer forfeits all payments made.
Upon default, Seller may also increase the interest rate by 5 percentage points (“Default Rate”).
Seller reserves the right to reclaim possession of the property without court action in the event of default under the Land Contract terms.
Non-communication will result in a swift default process. Seller encourages Buyers to reach out if experiencing difficulties.

7. Title & Conveyance

Seller conveys title to Buyer via Warranty Deed upon full payoff.
During the payment period, Seller holds the Warranty Deed and warrants that the title will remain free from loans, liens, or encumbrances.
Seller will record the Warranty Deed with the appropriate county within 30 days of final payoff.
A title report is not provided at closing. Buyer may conduct their own title search at their own expense.
Title is conveyed subject to: recorded covenants and restrictions, utility easements and rights-of-way, applicable zoning ordinances and mineral reservations, special assessments, and current and future general taxes.

8. Closing

Closing occurs on or before the date agreed upon in the contract.
Closing may be extended up to 7 days to resolve title objections, or by written agreement of both parties.
There is no cost to Buyer when closing directly with Seller (without a title company).

9. Closing Costs (If Closed Through a Title Company)

Cost Item	Paid By
Attorney / Title Company Fees	Buyer
Title Insurance	Buyer
Title Abstract or Certificate	Buyer
Recording Fees	Seller
Appraisal	Buyer
Survey	Buyer
Transfer Taxes	Seller
All Other Closing Costs	Buyer

10. Property Use Restrictions (Terms Sale)

Until the property is paid in full, Buyer may not:

Live on the land
Pull permits
Build any structure on the property
Dump or store environmentally hazardous waste

Buyer must abide by all local and state zoning codes, rules, and regulations applicable to the property. Seller reserves the right to limit timber removal to only what is necessary for placing a dwelling or structure, until full payment is made.

11. Prorations

Taxes, interest, maintenance fees, assessments, dues, and rents (if any) are prorated through the closing date. Adjustments will be made if actual tax statements differ from prorated amounts.

12. Satisfaction Guarantee

Country Land Indeed, LLC offers a 90-day inspection and satisfaction period from the date of down payment (Terms Sale). If, for any reason, Buyer is unsatisfied with the property, Seller will either exchange the property or refund all monies paid, minus closing costs, payment fees, and accounting setup fees.

13. Representations & Warranties

Seller represents that as of the closing date:

There will be no unresolved liens, assessments, or security interests against the property.
The property is free of all liens and taxes are current.
No government agency has issued notices requiring repairs or corrections.
Seller is not aware of any wetlands, flood plains, hazardous substances, petroleum products, or underground storage tanks on the property.

If any representation proves untrue at closing, Buyer may terminate the contract and receive a full refund of the earnest money.

14. Default by Seller

If Seller fails to perform under this contract, Buyer may either: (a) enforce specific performance or seek legal relief, or (b) terminate the contract and receive a full refund of the earnest money.

15. Attorney’s Fees

In any legal proceeding related to this contract, the prevailing party is entitled to recover all legal costs and reasonable attorney’s fees from the non-prevailing party. Buyer also agrees to pay all collection costs, including attorney’s fees, on any unpaid amounts.

16. Assignment

This agreement may not be assigned by Buyer without the prior written consent of Seller. Seller may assign this agreement, and it is binding on the heirs and assigns of both parties.

17. Federal Tax Requirement

If Seller is classified as a “foreign person” under applicable law, Buyer is required to withhold a sufficient amount from the sale proceeds and remit it to the IRS with the appropriate tax forms. Buyer’s Social Security Number may be required for tax reporting purposes.

18. Eminent Domain

If the property is condemned by eminent domain after the contract’s effective date, both parties will mutually agree to continue, modify, or cancel the transaction. If no agreement is reached, Buyer is entitled to cancel and receive the down payment back.

19. Notices

All notices between parties must be in writing, delivered by mail, hand delivery, or facsimile. Buyer must maintain a valid email address on file for default notifications.

20. Governing Law

This contract is governed by the laws of the State of Utah. Time is of the essence in the performance of this agreement.

21. Entire Agreement

This contract constitutes the entire agreement between the parties. No oral statements, warranties, or representations outside this written contract are binding on either party. Any modifications must be made in writing with the consent of both parties.

Country Land Indeed, LLC — countrylandindeed@gmail.com | 801-783-3106

This document is a summary of the Purchase Terms of Use based on the signed contracts. It does not constitute legal advice. Parties are advised to consult an attorney regarding all legal documents.