AGREEMENT TO PURCHASE PROPERTY
This Contract effective as of 15 th January 2021 (the “Effective Date”) is entered into by
and between the following Parties
Seller: JWM Unlimited Real Estate LLC of 1148 c highland plantation rd Greenville Ms
38701 Owned by James Moorman and Maggie Hotchkiss-Thienes( hereinafter known
as “Seller”)
Buyer: Joe and Ann Guetlein of 5305 West 86 th Avenue Arvada, CO 8003 (hereinafter
known as “Buyer”)
RECITALS
Whereas, Both Buyer and Seller are legal persons established and validly existing in
accordance with the laws;
Whereas, Seller is the legal owner of the building to be sold to Buyer in accordance with
this Contract;
Whereas, Seller voluntarily sells the building under this Contract to Buyer at the agreed
price under this Contract to Buyer, and Buyer desires to make the purchase.
NOW THEREFORE, both parties after mutual consultation and consent, enter into the
following provisions for the observance and performance of both parties:
- Description of Property
The Property is the following legally described real estate in the County of
Archuleta, Colorado: Lakewood Village, Lot 152 known as No. 19 Rosewood
Court, Pagosa Springs, CO 81147 - Buyout & Purchase Price
Buyers agree to pay the following in the purchase/buyout of this property sale.
(a) Interest owed to The Investor Source LLC, A private lending
company including: The Investors Source LLC
118 E 29th St, Loveland, CO 80538
Paid Items / Interest:
Date XXXXXXX 8-Oct 21-Oct 10-Nov
Excavation, Concrete,
Amvic
13600.00 13040.7
5
557.81
Fill Dirt 1300.00 1300.0
0
Masonry 12000.00 2030.00 884.40 1200.00
Doors Int & Ext 9129.00 4565.00
Windows 9700.00 4850.00
Trusses 11000.00 10422.7
5
Elec 17350.00 5783.00
Plumb 14650.00 4885.00
Cabinets 15509.00 7755.00
Counters 6375.00 3185.00
Carpentry 13120.00 2029.26 4459.00
2160.00
Lumber Package 35089.00 12322.
00
Radient
Tech
6598.00 6598.00
GC Crew 9125.00 5040.00 3513.00
Elec/LPEA
Fees
4120.00 2360.38
Water/Sewer 7852.00 7852.00
Contingency 23883.0 696.66 6939.86 616.00
0
68309.67
22004.0
7
10948.3
8
13782.7
5
Total with interest by Jan 1, 2021
141,820.87
(b) Interest owed to JWM Unlimited Real Estate LLC Including
JWM Unlimited Real Estate LLC
1148 c highland Plantation Rd, Greenville Ms 38701
Paid Items / Interest:
Lot Down Payment 15000.00 Permits 2590.00
Insurance 975.00 Crew Pay June/Concrete $
4,000
Crew June $ 2,175.00 Crew June $ 3216.14
Fill Dirt June 1700 PLIC Certificate June $ 425.00
Radient Tech Heater $ 1600 Title Fees $ 1,540
LPEA Fees 1800 Rentals 1,493. 94
House Membrane 884.00 Alpine Toilets 462.05
George T. Sanders 140.84 Concrete Equipment 626.37
DAY LUMBER 561.55 Misc Charges 372.00
November GC Crew Pay $
4513
Buyout Interest $ 15,000
Total $59,074.84
(c) Balance owed on lot
The current balance owed on the lot of $20,000 should be paid through High
Country Title to: Tari L. Woods
(d) Balance owed at buildersfirstsource, a lumber yard, with balances owed on
build materials.
All items on the JWM Unlimited / James Moorman account at Builders First Source
must be paid All materials are build related.
Amount: $14,223.64
A check may be mailed to:
(F) Balance for floor plans – Reynolds ash and associates
Buyer assumes build related costs and may consult the general contractor for
these costs
- Delivery of the Building and Transfer of the Ownership Right
Within 30 Days from the signing of the agreement the Seller shall deliver the
building under this Contract to Seller for the management and Use by Seller.
Buyer agrees to buy the property as is and after the Seller completes the
delivery and the change of building ownership rights, Buyer shall exercise all
the rights as the owner of the building. - Apportionment of Tax Payments
Both Buyer and Seller shall, in this building purchase separately bear the statutorily-
determined fees imposed on the seller and the buyer respectively by the real property
administrative department in accordance with the law. With respect to the statutorily-
determined transaction fees that should be borne jointly by both parties. - Seller’s undertakings
The Seller is the legal owner of the building under this Contract and legally owns the
State-owned land use right of the land occupied by the aforesaid building and it rights
are not subject to any limitation or restrictions due to the provisions of laws or other
agreements;
Seller undertakes to handle the relevant formalities in changing the building ownership
right and State-owned land use right. - Buyer’s Undertakings
Buyer agrees that by signing this Agreement, he/she commits to purchasing the
property and as such the Seller will not offer the property for sale to any other person.
By purchasing the property, Buyer will acquire: Seller’s interest in the land; remaining
balance on the land; remaining balance owed at buildersfirstsource, a lumber yard, with
balances owed on building materials; any other mics owed balances or interest on the
building and the current balance of the loan out on the property from the Seller’s lender
who funded the construction.
Buyer agrees to cater for the transaction closing fees. - Liabilities for Default
Buyer must pay Seller the building purchase price as scheduled. In case payments are
overdue, for each day payment is overdue, Buyer shall pay Seller, as penalty, % of the defaulting portion of the building purchase price. Seller shall deliver the property to Buyer for its use as scheduled; otherwise, for each day of the delay, Buyer may deduct, as penalty, ___ % of the agreed building
purchase price.
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