hawaii commercial purchase and sale agreement

LAND COURT AFTER RECORDATION, RETURN BY: REGULAR SYSTEM This document contains _____ pages. Tax Map Key No. __________...

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LAND COURT AFTER RECORDATION, RETURN BY:

REGULAR SYSTEM

This document contains _____ pages. Tax Map Key No. _____________________

AGREEMENT OF SALE THIS AGREEMENT is made this ____________ day of __________________________, _______, by and between _________________________________________, all of whose address is _________________________, hereinafter called "Seller", and ______________________, whose address is ______________________, hereinafter called "Purchaser". For valuable consideration, and in consideration of the mutual covenants contained herein, Seller and Purchaser agree as follows: “Caveat: These documents are forms only, and are made available as examples. Circumstances and transactions often require specialized, updated, or even other forms not shown here; accordingly, Title Guaranty is not able to and does not make any representations or warranties regarding the suitability of these forms for your situation. You are strongly advised to consult your attorney or other real estate professional before filling out or signing any legal document.”

1. AGREEMENT TO PURCHASE. Seller hereby agrees to sell to Purchaser, as joint tenants, and Purchaser hereby agrees to purchase from Seller, the property described in Exhibit A attached hereto on the terms, covenants and conditions contained in this Agreement. 2. PURCHASE PRICE AND PAYMENT. Purchaser agrees to pay Seller the purchase price of _____________________ and ___/100 Dollars ($_______________), together with interest accruing thereon at the rate of interest set forth below, in the following manner: (a) The amount of $____________ upon the execution and delivery of this Agreement, receipt of which is acknowledged. (b) The balance of $____________, together with interest accruing thereon at the rate of interest set forth below, is to be paid as follows: (i) Monthly installments of interest only on the unpaid principal balance of the purchase price remaining from time to time unpaid, shall be due and payable commencing on , and on the same day of each and every month thereafter until the entire unpaid principal balance of the purchase price is paid in full. Interest shall accrue on the unpaid principal balance of the purchase price remaining from time to time unpaid, at the rate of ____ percent (_____%) per annum during the entire term of this Agreement. (ii) Purchaser shall have the right to pay all or any portion (minimum of $100) of the unpaid principal balance of the purchase price with accrued interest to date at any time without penalty, provided, however, that any partial prepayment shall not relieve Purchaser from making any installment thereafter falling due. (iii) The unpaid principal balance of the purchase price and all accrued interest thereon and all other sums due and owing by Purchaser to Seller under this Agreement, unless , _____. sooner paid, shall be due and payable on 3. IMPROVEMENT FUNDS. Purchaser and Seller shall establish an escrow account (herein called “Escrow Account”) with _________________________ (herein called the “Escrow Agent”), into which Purchaser shall deposit the total sum of $__________ (herein called the “Funds”), of which the sum of $___________shall be deposited immediately upon and as a pre-condition to closing, and of which the remaining sum of $___________ shall be deposited within _____ days from the closing date. Purchaser and Seller agree that the Escrow Agent may deposit the Funds in any interest-bearing account with any federal or state regulated financial institution insured by the Federal Deposit Insurance Corporation. The disposition of the Funds shall be subject to the covenants set forth in Section ___ below and to such escrow instructions as may be required by the Escrow Agent and agreed to by the Seller and Purchaser. Seller and Purchaser agree to each pay one-half (1/2) of the “Caveat: These documents are forms only, and are made available as examples. Circumstances and transactions often require specialized, updated, or even other forms not shown here; accordingly, Title Guaranty is not able to and does not make any representations or warranties regarding the suitability of these forms for your situation. You are strongly advised to consult your attorney or other real estate professional before filling out or signing any legal document.”

Escrow Agent’s fee for maintaining the Escrow Account. Interest on the Funds shall accrue for the benefit of the Purchaser. 4. REQUIRED IMPROVEMENTS – USE OF FUNDS. Purchaser agrees that the Funds shall only be used to fund the following improvements (and survey, engineering, permitting, construction and installation costs in connection with any of the following improvements): ________________________________________________________________________; 5. PLACE OF PAYMENTS; APPLICATION. Purchaser shall make all payments of the purchase price and interest thereon and any other sums due to Seller under this Agreement, to Seller at Seller's address set forth above or at such other place as Seller may direct in writing from time to time. Each payment will be applied first towards any advances or other sums recoverable by Seller under this Agreement, then towards interest then due, and then the remainder, if any, towards the unpaid principal balance of the purchase price. Purchaser shall in addition directly pay at least ____ (___) days before the due date, real property taxes, insurance premiums, utilities expenses, and all other charges affecting the property and will provide Seller with copies of receipts for such payments promptly if requested by Seller. 6. PRORATION OF INCOME AND CHARGES. All taxes, assessments, rents, insurance premiums, utility charges, and all other expenses and charges pertaining to the property or income to be derived with respect to the property will be prorated between Purchaser and Seller as of the date of delivery of this Agreement. 7. POSSESSION. Purchaser shall have possession of the property and the right to the rents, issues and profits from the property so long as Purchaser is not in default under this Agreement. Purchaser's possession shall be as a purchaser and not as the tenant, agent or representative of Seller. 8. TAXES AND ASSESSMENTS. Purchaser will timely pay all real property taxes and assessments and any other taxes and similar impositions which shall hereafter be payable upon or with respect to the ownership or use of the property, whether assessed against Seller or Purchaser. Purchaser will pay such taxes in the manner provided in paragraph 3 above and will indemnify Seller from all losses, costs, expenses and liability resulting from non-payment of such taxes, assessments and impositions. 9. UTILITIES AND OTHER CHARGES. Purchaser shall pay for, and save Seller harmless from the cost of all electric power, telephone, gas, sewer, water, refuse disposal service, and any and all other utilities or services furnished to, or used or consumed in, on or about the property. 10. REPAIRS; INSPECTION. Purchaser will maintain and keep the property, including, without limitation, all buildings and other improvements now on or hereafter erected or placed upon the “Caveat: These documents are forms only, and are made available as examples. Circumstances and transactions often require specialized, updated, or even other forms not shown here; accordingly, Title Guaranty is not able to and does not make any representations or warranties regarding the suitability of these forms for your situation. You are strongly advised to consult your attorney or other real estate professional before filling out or signing any legal document.”

property, in good repair and order and in a safe condition. Seller shall have the right at all reasonable times to enter the property to determine whether Purchaser is in compliance with this Agreement. 11. COMPLIANCE WITH ALL LAWS; NO WASTE. Purchaser shall not use or allow the property to be used for or in connection with any unlawful purpose and will faithfully observe, perform and abide by all laws, rules and regulations of any governmental authority which are applicable to the property, including but not limited to all lawful requirements of any health authority operating within the city and county in which the property is located. Purchaser will not commit or suffer any strip or waste or willful or negligent damage to or destruction of, the property. 12. LIENS. Purchaser shall not permit or suffer to exist a lien of any kind or nature against all or any portion of the property and shall indemnify Seller against any and all loss or damage arising out of any such liens. 13. RISK OF LOSS. Purchaser shall bear the risk of loss to all or any portion of the property including, without limiting the generality of the foregoing, all goods, materials, fixtures, equipment, machinery and other tangible property on the property, from any cause, including casualty or taking for a public purpose. Such loss shall not be a ground for rescission of this Agreement, and Purchaser will hold Seller harmless from all loss and damage thereto. 14. ALTERATIONS AND ADDITIONS. Purchaser shall not make any additions or alterations to the property during the term of this Agreement without the prior written consent of Seller. Seller may inspect Purchaser's plans and specifications and may refuse to consent until Purchaser obtains a building permit, if required, any approvals or consents which may be required, and evidence of satisfactory bonding and adequate financing to pay for the improvements. Any alterations or additions shall, upon cancellation or other termination of this Agreement, become the property of Seller . 15. INDEMNITY. Purchaser will indemnify Seller against all claims and demands for loss or damage, including property damage, and injury to, or death of persons, arising out of, or in connection with the use or occupancy of the property by Purchaser or any other person claiming by, through, or under Purchaser, or any accident, fire, nuisance, or unsafe condition made or suffered on the property or adjacent sidewalks and will reimburse Seller for all of Seller's costs and expenses, including reasonable attorneys' fees incurred in the defense of any such claims. 16. LIABILITY INSURANCE. Purchaser, at Purchaser's expense, will during the entire term of this Agreement, maintain with a responsible insurance company authorized to do business in Hawaii, comprehensive general liability insurance with respect to the property which shall be noncancellable without ______ (___) days prior written notice to Seller. The insurance shall have coverage of risks and be in such amounts as prudent insurance practices in the community may “Caveat: These documents are forms only, and are made available as examples. Circumstances and transactions often require specialized, updated, or even other forms not shown here; accordingly, Title Guaranty is not able to and does not make any representations or warranties regarding the suitability of these forms for your situation. You are strongly advised to consult your attorney or other real estate professional before filling out or signing any legal document.”

reasonably require as determined by Seller. Purchaser shall promptly deposit the policy or policies of such insurance and evidence of payment of premiums with Seller if requested by Seller. 17. INSURANCE. During the continuance of this Agreement, Purchaser shall keep the property and any improvements or additions on, to, or within the property insured against loss by fire and other perils covered by extended or similar type coverage and by windstorm/hurricane (all with inflation guard), in the name and for the benefit of Seller and any mortgagee or lessor having an interest in the property in an amount equal to the full insurable value of the property with an insurance company or companies authorized to do business in the State of Hawaii. Purchaser will deposit the policy or policies, together with receipts for payments of premiums, with Seller if requested by Seller. In the event of loss or damage the proceeds of insurance, at the option of Seller, shall be applied either towards the rebuilding or repair of the damage or towards amounts owing to Seller hereunder, including the balance of the purchase price and interest accrued thereon, subject, however, to the provisions of state law, and any lease, mortgage or other instrument senior or prior to this Agreement. Purchaser shall also obtain and keep in force on the property such additional policy or policies of insurance, as prudent insurance practices in the community may reasonably require for similar property as determined by Seller and flood insurance if the property is within a special flood hazard area as officially designated on FIA (Flood Insurance Administration) maps promulgated by the United States Department of Housing and Urban Development for the purpose of determining eligibility for emergency flood insurance programs. Any other or additional insurance covering the property in whole or part although obtained by Purchaser shall likewise be made payable to, belong to, and be recovered by Seller as aforesaid by any appropriate proceedings and be similarly applied. Purchaser shall give immediate notice of any loss or damage to the property to Seller. 18. TRANSFER BY PURCHASER. No sale, including a sale by way of sub-agreement of sale, assignment, lease, mortgage or other disposition, pledge or encumbrance of this Agreement or of Purchaser's interest hereunder, in whole or part, or parting with possession of the property in whole or part shall be valid without the prior written consent of Seller. Seller may withhold consent unless satisfied that the proposed purchaser has the financial capability to perform Purchaser's obligations hereunder. Any transfer without consent will be void at the option of Seller. Seller will not require the payment of any money as a condition to consent other than a reasonable charge for processing the application for consent and preparing the instrument of consent. 19. CONDEMNATION. In the event all or any part of the Property is taken by any authority having the power of eminent domain, either Seller or Purchaser, or both, may appear and defend or prosecute the litigation. All proceeds shall be applied first toward the payment of Seller's attorneys' fees, costs and expenses incident to such proceedings, next toward the payment of all sums and interest thereon payable under the terms of this Agreement, and the surplus, if any, shall be paid to Purchaser, subject to the provisions of any lease, mortgage or other instrument senior or prior to this Agreement. “Caveat: These documents are forms only, and are made available as examples. Circumstances and transactions often require specialized, updated, or even other forms not shown here; accordingly, Title Guaranty is not able to and does not make any representations or warranties regarding the suitability of these forms for your situation. You are strongly advised to consult your attorney or other real estate professional before filling out or signing any legal document.”

20. ADVANCES BY SELLER. Upon any failure of Purchaser to observe or perform any covenant or condition of this Agreement, or if any suit, proceeding or other contingency shall arise or be threatened relating to the property, Seller may make any advances or incur such expenses or otherwise act as may in Seller's judgment seem advisable to protect Seller's interest hereunder. Purchaser shall reimburse Seller on demand for costs or expenses which Seller may pay or incur under any provision of this Agreement for the protection of the property or any of Seller's rights hereunder, including reasonable attorneys' fees. Interest shall accrue on such sums at the rate of _________ percent (__%) per annum from the date of demand until paid. 21. ATTORNEYS' FEES. Either party to this Agreement shall have the right to retain an attorney to make demand or otherwise protect or enforce its rights hereunder. In such event the prevailing party shall have its costs and expenses, including court costs and reasonable attorneys' fees, paid by the losing party. If either Seller or Purchaser shall be joined into any civil, criminal or administrative proceeding concerning this Agreement, the property, or improvements thereon by reason of an act or omission of the other party, the party brought into the proceeding without fault shall recover its costs and expenses, including reasonable attorneys' fees and court costs, from the other party. 22. PURCHASER'S DEFAULT. Time is of the essence of this Agreement. An essential condition of this Agreement shall have been breached and Purchaser shall be deemed to be in default if Purchaser (a) shall have failed to pay when due any payment of money, including advances and interest, required under this Agreement and such default shall not have been cured within ____ (__) days after the due date; or (b) shall fail to observe or perform any term, covenant or condition contained herein and on the part of Purchaser to be observed or performed and such failure shall continue for a period of _______ (__) days after notice or demand has been given to Purchaser; or (c) shall be adjudged a bankrupt and shall fail to make a payment hereunder when due; or (d) shall permit all or any part of the property, or all or any part of Purchaser's interest therein or in this Agreement to be attached, seized, liened or in any manner restrained, impounded or encumbered by any lawful process; or (e) shall vacate or abandon or threaten to vacate or abandon all or any part of the property. 23. SELLER'S REMEDIES. Upon the occurrence of Purchaser's default, Seller may at Seller's option: (a) Accelerated Maturity. Without notice or demand, declare immediately due and payable all sums of money payable hereunder and secured hereby and sue Purchaser for the balance of the purchase price then unpaid and all interest due thereon (and interest shall accrue thereafter at the rate of _______ percent (__%) per annum), all unpaid taxes and assessments with respect to the property, all moneys advanced by Seller on account of Purchaser pursuant to this Agreement and the costs of such suit, including reasonable attorneys' fees, incurred by Seller. In any such suit, the interest of Purchaser in this Agreement and in the property shall be subject to attachment and sale; “Caveat: These documents are forms only, and are made available as examples. Circumstances and transactions often require specialized, updated, or even other forms not shown here; accordingly, Title Guaranty is not able to and does not make any representations or warranties regarding the suitability of these forms for your situation. You are strongly advised to consult your attorney or other real estate professional before filling out or signing any legal document.”

(b) Termination. Terminate this Agreement by either initiating a civil action in a court of competent jurisdiction or by giving written notice to Purchaser. Thereupon, Seller shall be released from the obligation to sell the property to Purchaser. If this Agreement is recorded in the Bureau of Conveyances of the State of Hawaii, Seller may upon the expiration of ________ (__) days after the giving of notice of termination, record in said Bureau an affidavit that such notice has been given and that this Agreement has been terminated thereby, or if the property is registered with the Land Court of the State of Hawaii, Seller may petition the Land Court or such other court of competent jurisdiction, to cancel this Agreement and, if applicable, amendment of the appropriate certificate of title, and in either case may then make, execute and deliver as attorney-in-fact for Purchaser herein (for that purpose hereby irrevocably constituted and appointed, with the power of substitution) all instruments necessary or desirable for removing any cloud on Seller's title to the property caused by the recording, filing or existence of this Agreement; and retain all payments made hereunder as liquidated damages and not as a penalty, the parties agreeing that Purchaser's default after going into possession of the property will have caused damages to Seller which would be expensive and difficult to determine through litigation, which the parties want to avoid, and that the amounts paid to Seller prior to default are a reasonable estimate of the actual damages which will be suffered by Seller on account of Purchaser's default; (c) Recovery of Possession. In the event of termination, Seller may take possession of the property without service of further notice or any legal process and without permission of Purchaser, and in so doing may eject Purchaser and all persons having possession of the property by, through or under Purchaser without being liable for any damages for such repossession or chargeable with trespass or any other tort for breaking and entering, which Seller is expressly authorized to do. In the event that Purchaser shall remain in possession of the property after this Agreement is terminated as aforesaid, Purchaser shall be deemed to be a tenant-at-will and shall be obligated to pay during the period of such tenancy a rental equal to twice the amount of installments to be paid hereunder prior to default, and Seller shall have all remedies for the collection of such rent and for recovering the possession of the property that are available to landlords under the laws of the State of Hawaii, including the right to institute an action for summary possession as provided by Chapter 666 of the Hawaii Revised Statutes, as amended from time to time; (d) Seller's Election to Treat Agreement as Mortgage. Sell the property, or any portions, as if Seller were a mortgagee of the property, by judicial sale or at public auction under power of sale at Honolulu, Hawaii, in the manner provided from time to time by Chapter 667 of the Hawaii Revised Statutes relating to foreclosure of mortgages, with immediate right to receivership with the aforesaid powers upon ex parte order and without bond pending such sale. If Seller elects to proceed by public auction, Seller will publish notice of intention to sell the property once a week for at least three successive weeks in a newspaper of general circulation printed and published in the county in which the property is located. Seller may sell the property, including improvements placed on the property by Purchaser, either together or separately, at public auction at such times and places as Seller may deem “Caveat: These documents are forms only, and are made available as examples. Circumstances and transactions often require specialized, updated, or even other forms not shown here; accordingly, Title Guaranty is not able to and does not make any representations or warranties regarding the suitability of these forms for your situation. You are strongly advised to consult your attorney or other real estate professional before filling out or signing any legal document.”

best. In so doing, Seller may make, execute and deliver, either in Seller's own name or as attorney-in-fact for Purchaser herein (for which purpose Seller is hereby irrevocably constituted and appointed with power of substitution) to the purchaser or purchasers at such sale or sales a good and sufficient instrument conveying the property free and clear of this Agreement. Seller may purchase the property or any part thereof at any such sale or sales, and any such sale shall forever bar Purchaser and all persons claiming under Purchaser from all right and interest in the property, both at law and in equity. The purchaser at any such sale shall not be required to see to the application of the purchase money or to inquire into the propriety of Seller's exercise of the power of sale herein given. The proceeds of sale or sales shall be applied toward payment of the following items in the order listed: (i) the costs and expenses of the sale, together with a reasonable attorneys' fees for Seller's attorney; (ii) all disbursements made by Seller in respect of the property, including taxes and insurance thereon and repairs thereof and other outgoings and any other advances made by Seller in order to protect the property; (iii) the balance of the purchase price and interest and all other sums owing to Seller hereunder then remaining unpaid; and (iv) the remainder, if any, to Purchaser. If the proceeds realized upon any sale of the property are insufficient to pay items (i) through (iii) above, Purchaser shall forthwith make good the deficiency; and, if suit is instituted by Seller to collect the same, Seller shall be entitled to recover, as part of Seller's judgment, all costs and expenses reasonably incurred, including court costs and attorneys' fees; (e) Consequential Damages. Purchaser hereby expressly acknowledges and agrees that together with any other remedy or remedies available to or pursued by Seller, Seller shall be entitled to full reimbursement for Seller's consequential damages incident to Purchaser's default which damages will include the cost to Seller of repainting and refurbishing the property, the broker's commission paid on resale of the property, and all refinancing costs; (f) Other Remedies Reserved; Election and Waiver. Seller may pursue any one or combination of the foregoing or any other or further legal or equitable remedies available to the end that Seller shall be made whole. The pursuit of any one or more of the remedies set forth above shall not constitute an election or waiver of Seller's rights to enforce any other remedy for any default on the part of Purchaser. 24. REMEDIES OF PURCHASER. In the event Seller shall fail to consummate this Agreement, Purchaser, if not then in default, may bring an action against Seller for specific performance of this Agreement or pursue such other legal remedy as shall be allowed by law. 25. WAIVER. (a) Seller's acceptance of any payment due hereunder, whether or not it is delinquent, shall not constitute a waiver of any other default or of Seller's right to pursue any remedy or “Caveat: These documents are forms only, and are made available as examples. Circumstances and transactions often require specialized, updated, or even other forms not shown here; accordingly, Title Guaranty is not able to and does not make any representations or warranties regarding the suitability of these forms for your situation. You are strongly advised to consult your attorney or other real estate professional before filling out or signing any legal document.”

right for breach or for cancellation of this Agreement; acceptance shall constitute only a waiver of timely payment for the portion for payment involved; (b) Seller shall have the right at all times to insist upon the strict performance of Purchaser's obligations hereunder. No waiver by Seller of any violations by or default of Purchaser shall alter or affect Seller's right to enforce the provisions of this Agreement with respect to any other defaults then existing or any future violations or defaults of the same or other provisions. 26. NOTICES. Any notice required or permitted by law or this Agreement shall be in writing and shall either be personally delivered or sent by certified mail, return receipt requested, to Seller or Purchaser, as the case may be. Personal delivery shall be made by handing the notice to the other party. Certified mail shall be sent to the address of the other party hereinbefore stated, or to any new address of which the sender has, in writing, been notified by the other party, such notice being deemed given when mailed. If "Seller" or "Purchaser" refers to more than one person or entity, notice to any one Seller or Purchaser shall be sufficient. 27. CONVEYANCE TO PURCHASER. Upon the payment of all sums due hereunder and the performance and discharge of all other obligations to be observed and performed by Purchaser, Seller shall cause to be prepared, executed and delivered a document in recordable form containing the customary warranties and transferring the property described in Exhibit A to Purchaser subject to the liens and encumbrances set forth in Exhibit A but free of any mortgages, if any, described therein, unless assumed by Purchaser, and subject also to any encumbrances made or suffered by Purchaser. Delivery of the conveyance instrument by Seller shall be made through an escrow agent. Costs associated with the preparation of the conveyance document or incurred to clear Seller's title shall be paid by Seller. Costs associated with a title update and the recordation of the conveyance instrument shall be paid by Purchaser. The escrow agent's fee shall be shared equally by Seller and Purchaser. 28. LATE CHARGE. In the event any payment hereunder is made more than _____ (__) days after the due date, Purchaser shall also pay a late charge of _______ percent (__%) of the amount overdue. The late charge is intended to cover the administrative and other expenses incurred by Seller on account of delinquent payments. Payment of the late charge shall not in any way affect any remedies Seller may have on account of a default in payments or other obligations. The late charge shall be paid with the payment next falling due hereunder. 29. FURTHER ENCUMBRANCES. So long as Purchaser is not in default hereunder, Seller shall not mortgage or otherwise encumber the property or cause the property to be encumbered from and after the date of this Agreement without the prior written consent of Purchaser, which consent shall not be unreasonably withheld or delayed.

“Caveat: These documents are forms only, and are made available as examples. Circumstances and transactions often require specialized, updated, or even other forms not shown here; accordingly, Title Guaranty is not able to and does not make any representations or warranties regarding the suitability of these forms for your situation. You are strongly advised to consult your attorney or other real estate professional before filling out or signing any legal document.”

30. DEFINITIONS. This Agreement shall be construed and interpreted in accordance with the following definitions and rules of construction: (a) "Property", as used herein means all the land or leasehold estate in the land, as the case may be, described herein and all buildings, structures, fixtures and other improvements, and all repairs, replacements and additions thereto now existing or hereafter placed thereon and all tenements, hereditaments, rights, easements, privileges and appurtenances belonging or in anywise appertaining to the land, whether made, erected or constructed by Seller or Purchaser, or both, and the real, personal or mixed property, described in Exhibit A attached hereto. With respect to any lease, grant of easement or other instrument referred to herein and under which Seller holds an estate or interest which is less than fee simple or absolute, the term "property" and similar terms shall include such lease, grant of easement or other instrument and all extensions and amendments, and all the estate, right, title and interest of Seller in and to the land affected thereby. (b) Gender and Number. The use of any pronoun in reference to Seller or Purchaser shall be construed to mean the singular or plural, the masculine or feminine or the neuter as this Agreement and context may require. (c) Obligations Joint and Several. When the terms "Seller" or "Purchaser" refer to more than one person, each such person shall be jointly and severally bound and liable with respect to all covenants and conditions to be observed and/or performed by Seller or Purchaser. The term "person" shall include an individual, corporation, firm, trust or estate. (d) "Costs", etc. The terms "advances", "costs" and "expenses" shall mean and include reasonable attorneys' fees and court costs, title search and recording fees, whenever incurred. 31. AMENDMENTS. This Agreement may be amended only by written instrument executed and acknowledged by Seller and Purchaser. 32. INUREMENT. This Agreement shall be binding upon and shall inure to the benefit of the parties herein named and their respective heirs, devisees, personal representatives, successors in interest or title and assigns. 33. HEADINGS. All headings used in this Agreement are for convenience only and are not to be construed as limiting in any manner the content of any paragraph or particular provision. 34. SEVERABILITY. If, for any reason any of the provisions of this Agreement shall be unenforceable or ineffective, all of the other provisions shall remain in full force and effect.

“Caveat: These documents are forms only, and are made available as examples. Circumstances and transactions often require specialized, updated, or even other forms not shown here; accordingly, Title Guaranty is not able to and does not make any representations or warranties regarding the suitability of these forms for your situation. You are strongly advised to consult your attorney or other real estate professional before filling out or signing any legal document.”

35. ENTIRE AGREEMENT. This Agreement, together with the Exhibit A attached hereto, constitutes the entire agreement among the Seller and Purchaser concerning the matters herein, and supersedes all prior understandings and writings concerning the matters herein. 36. COUNTERPARTS. The parties hereto agree that this instrument may be executed in counterparts, each of which shall be deemed an original, and said counterparts shall together constitute one and the same agreement, binding all of the parties hereto, notwithstanding all of the parties are not signatory to the original or the same counterparts. For all purposes, including, without limitation, recordation, filing and delivery of this instrument, duplicate unexecuted and unacknowledged pages of the counterparts may be discarded and the remaining pages assembled as one document. IN WITNESS WHEREOF, the undersigned have caused this instrument to be duly executed as of the date first above written.

Seller

Purchaser

“Caveat: These documents are forms only, and are made available as examples. Circumstances and transactions often require specialized, updated, or even other forms not shown here; accordingly, Title Guaranty is not able to and does not make any representations or warranties regarding the suitability of these forms for your situation. You are strongly advised to consult your attorney or other real estate professional before filling out or signing any legal document.”

STATE OF HAWAII CITY AND COUNTY OF HONOLULU

) ) )

SS.

On this __________ day of ____________________, _______, before me personally appeared _______________________________, to me personally known, who, being by me duly sworn or affirmed, did say that such person(s) executed the foregoing instrument as the free act and deed of such person(s), and if applicable in the capacity shown, having been duly authorized to execute such instrument in such capacity.

Print Name: Notary Public, State of Hawaii My Commission Expires:

“Caveat: These documents are forms only, and are made available as examples. Circumstances and transactions often require specialized, updated, or even other forms not shown here; accordingly, Title Guaranty is not able to and does not make any representations or warranties regarding the suitability of these forms for your situation. You are strongly advised to consult your attorney or other real estate professional before filling out or signing any legal document.”

EXHIBIT A

“Caveat: These documents are forms only, and are made available as examples. Circumstances and transactions often require specialized, updated, or even other forms not shown here; accordingly, Title Guaranty is not able to and does not make any representations or warranties regarding the suitability of these forms for your situation. You are strongly advised to consult your attorney or other real estate professional before filling out or signing any legal document.”