BLUE SKY LAND SALES PURCHASE TERMS OF USE

WARNING: THIS CONTRACT HAS SUBSTANTIAL LEGAL CONSEQUENCES AND THE PARTIES ARE ADVISED TO CONSULT LEGAL AND TAX COUNSEL.

AGREEMENT TO SALE AND PURCHASE

Seller (Blue Sky Land Sales LLC) agrees to sell, and Buyer agrees to buy the specified property under the terms outlined herein. All property sold under this agreement is collectively referred to as the “Property.”

SALES PRICE AND PAYMENT

The parties agree to a purchase price, down payment, and balance due as specified in the individual contract. A one-time processing fee is due at signing. For owner-financed purchases, the Seller agrees to finance a portion of the purchase price pursuant to a promissory note bearing the agreed interest rate per annum, payable over the agreed term in monthly installments, plus a Note Servicing Fee and estimated property taxes.

FINANCING

Cash Sale: The cash contract is not contingent on financing.

Owner Financing: For terms purchases, the Seller provides owner financing secured by a Land Contract. Monthly payments begin approximately 30 days from the contract date and are collected via ACH draft through the Seller’s payment system. There are no prepayment penalties. The note may be paid off at any time, and only interest accrued up to the date of payoff will be assessed.

PROPERTY CONDITION

Buyer represents that they have personally inspected and examined the Property and accepts it in its “as-is” and present condition.

UTILITIES

The present condition of all utility access to the Property is accepted by Buyer. Seller is not aware of the existence of wetlands, shoreland, or flood plain on or affecting the Property. Seller knows of no hazardous substances, petroleum products, or underground storage tanks on the Property.

CLOSING

The closing of the sale will be on or before the date specified in the contract unless extended pursuant to the terms hereof. Closing may be extended to within 7 days after objections to matters disclosed in the title abstract, certificate, or commitment, or by the survey have been cured. The closing date may also be extended by written agreement of the parties.

TITLE AND CONVEYANCE

Seller shall convey title to Buyer by Warranty Deed upon full payment. Seller shall, prior to or at closing, satisfy all outstanding mortgages, deeds of trust, and special liens affecting the Property. Title shall be good and marketable, subject only to: (a) covenants, conditions and restrictions of record; (b) public and private utility easements and roads and rights-of-way; (c) applicable zoning ordinances, protective covenants and prior mineral reservations; (d) special and other assessments on the property, if any; and (e) general taxes for the current year and subsequent years.

A title report shall not be provided to Buyer at closing. Buyer may elect to conduct their own title search at their own expense. If title defects exist, Seller shall notify Buyer within 5 days of closing, and Buyer may: (a) cancel the contract and receive a full refund of all down payment monies if defects cannot be cured; (b) accept title as-is; or (c) permit Seller a reasonable time to perform curative work at Seller’s expense.

For terms purchases, the Seller holds the Title Warranty Deed until the Property is completely paid in full, and warrants that the Property Title will remain free from any loans, liens, or encumbrances throughout the payment period. Upon full payoff, the Seller will record the Warranty Deed in the county of the Property’s location within 30 days.

APPRAISAL, SURVEY, AND INSPECTION

Any appraisal of the Property shall be the responsibility of Buyer. A survey is not required.

POSSESSION AND TITLE

Prior to closing, the Property shall remain in the possession of Seller. While making payments on the Property under a terms contract, Buyer is not permitted to live full-time on the Property and may not install a permanent structure, well, or septic until the Property is fully paid for and the deed has been recorded in Buyer’s name or entity.

CLOSING COSTS AND EXPENSES

If closed through a title company, closing costs are allocated as follows:

Attorney Fees / 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

There is no closing cost to Buyer when closing directly with Blue Sky Land Sales LLC.

PROPERTY TAXES

Seller will pay the taxes on the Property each year, and Buyer will reimburse the Seller. Property taxes are pro-rated and included in the monthly payment for terms purchases. Failure of Buyer to reimburse Seller for all taxes accrued from the date of purchase within 60 days of the date due will void the contract, and the remaining amount owed on the Property will become due within 30 days.

PRORATIONS

Taxes for the current year, interest, maintenance fees, assessments, dues, and rents, if any, will be prorated through the Closing Date. If taxes for the current year vary from the amount prorated at closing, the parties shall adjust the prorations when tax statements for the current year are available.

PROMISSORY NOTE (TERMS PURCHASES)

Buyer promises to pay Blue Sky Land Sales LLC the principal amount as specified, along with interest on the unpaid principal balance until paid in full. Payments will be applied first to any accrued unpaid interest, then to late charges, then to principal.

Late Charge: If a payment is 15 or more calendar days late, Buyer will be charged an additional fee on top of all other sums owed.

Default Rate: Upon default, including failure to pay upon final maturity, the Lender may, at its option and if permitted under applicable law, increase the interest rate on the Note by five (5) percentage points. This Default Rate shall supersede the original rate even if the default is subsequently cured.

Events of Default include: (a) failure to make any payment when due; (b) failure to comply with any material term or obligation in the Purchase and Sale Agreement, Promissory Note, or Land Contract; (c) defaulting under any loan with another creditor if it may materially affect the Property; and (d) any false statement made to the Lender in connection with the loan.

Non-payment defaults may be cured within 15 days of written notice from Lender, or within 30 days if the cure requires more time and Buyer immediately initiates reasonable steps to cure.

LAND CONTRACT (TERMS PURCHASES)

Seller warrants the Property to be free of all liens and that taxes are current. Seller warrants the Property to be available to Buyer at the time of the contract’s effective date. Seller holds the right to limit the amount of timber removed from the Property to only the area needed to place a dwelling or structure, until the total price including interest is paid.

Grace Period: A grace period of 15 days from the payment due date is allowed. If payment is not received within the grace period, a penalty will be assessed.

Default and Foreclosure: If Buyer is in default of the monthly payment by 35 days, Seller will notify Buyer by email. Buyer will then have 15 days to bring all payments current. If full payment is not received within that period, the property will be considered foreclosed and Buyer will forfeit all interest and payments made.

If Buyer does not make any payments, Seller will provide a 10-day default notice before terminating the contract and re-selling the land.

Timber Restrictions: Seller holds the right to limit the amount of timber removed from the Property until the total purchase price including interest is paid in full.

DEFAULT

If Buyer fails to comply with this contract, Buyer will be in default, and Seller may either: (a) enforce specific performance and seek such other relief as may be provided by law; or (b) terminate the contract and receive the earnest money as liquidated damages, releasing both parties from this contract.

If Seller fails to deliver evidence of clean title or make non-casualty repairs within the time allowed due to factors beyond Seller’s control, Buyer may either: (a) extend the time for performance up to 15 days; or (b) terminate the contract and receive a full refund of the earnest money.

ATTORNEY’S FEES

The prevailing party in any legal proceeding brought under or with respect to this transaction is entitled to recover from the non-prevailing party all costs of such proceeding and reasonable attorney’s fees.

REPRESENTATIONS

Seller represents that as of the Closing Date: (a) there will be no liens, assessments, or security interests against the Property which will not be satisfied out of the sales proceeds; and (b) assumed loans will not be in default. All representations contained in this contract will survive closing.

RELEASE AND INDEMNIFICATION

Buyer assumes full responsibility for any and all risks, damages, injuries, or losses that may arise from their use, occupation, or development of the Property, whether occurring before, during, or after the transaction. Buyer agrees to release, discharge, and hold harmless the Seller, their agents, employees, heirs, successors, and assigns from any and all claims, demands, actions, or liabilities arising from or related to the Property, including but not limited to environmental conditions, personal injuries, property damage, and legal or zoning issues.

FEDERAL TAX REQUIREMENT

If Seller is a “foreign person” as defined by applicable law, or if Seller fails to deliver an affidavit confirming otherwise, Buyer shall withhold from the sales proceeds an amount sufficient to comply with applicable tax law and deliver the same to the Internal Revenue Service with appropriate tax forms. IRS regulations require filing written reports if cash in excess of specified amounts is received in the transaction.

ASSIGNMENT

This agreement may not be assigned by Buyer without the consent of Seller. This agreement may be assigned by Seller and shall be binding on the heirs and assigns of the parties hereto.

EMINENT DOMAIN

If the Property is condemned by eminent domain after the effective date hereof, the Seller and Buyer shall agree to continue the closing, or a portion thereof, or cancel this contract. If the parties cannot agree, this contract shall remain valid with Buyer being entitled to cancel and receive the down payment money returned.

NO BROKER OR AGENTS

The parties represent that neither party has employed the services of a real estate broker or agent in connection with the Property, or that if such agents have been employed, the party employing said agent shall pay any and all expenses outside the closing of this agreement.

AGREEMENT OF PARTIES AND PRIOR AGREEMENTS

This contract contains the entire agreement of the parties and cannot be changed except by their written agreement. Neither party has relied upon any statement or representation made by the other party or any sales representative. Neither party shall be bound by any terms, conditions, oral statements, warranties, or representations not contained herein. The provisions of this contract shall apply to and bind the heirs, executors, administrators, successors, and assigns of the respective parties.

OUR GUARANTEE

Blue Sky Land Sales LLC will allow an additional inspection period of 30 days from the date of down payment. If, for whatever reason, Buyer is unsatisfied with the Property, Blue Sky Land Sales LLC agrees to either exchange said property or refund all monies minus closing costs, payment fees, and accounting setup fees.

NOTICES

All notices from one party to the other must be in writing and are effective when mailed to, hand-delivered at, or transmitted by facsimile to the addresses on file. Seller will notify Buyer by email if Buyer is at default. Buyer must keep a valid email address on file at all times.

To Seller: Blue Sky Land Sales LLC 3540 Pump Road #1160 Richmond, VA 23233 Phone: 828-738-2598 Email: robert@blueskylandsales.com

GOVERNING LAW

This contract shall be governed by the laws of the applicable state as designated in the individual contract executed between the parties.

TIME IS OF THE ESSENCE IN THE PERFORMANCE OF THIS AGREEMENT.

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