Imperial Plaza - Letter of Intent
This document is for contemplation purposes only and shall be between a perspective Buyer and Seller. This Letter-of-Intent shall be deemed completely non-binding in the court of law. All Days specified are deemed to be “Calendar” days.
Initial Refundable Deposit
Initial Inspection Period days
Initial Non-Refundable Hard Money Deposit (optional)
Closing Period days
I have read and understand the tenant lease summaries.
Offer is deemed to be:All Cash- No Financing will be usedBuyer will utlize financing but offer not be contengent on financingContengent on Financing Terms and Conditions
Holder of Deposit: Seller’s ChoiceBuyer’s ChoiceMutually Agreed Upon Escrow Company
Site VisitI have seen the property in personI have not seen the property in personI intend to see the property prior to contract execution
Lending Relationship My lender has seen the package and provided a terms sheetI have not yet chosen a lenderI am open to mortgage broker options for debt placement
My lender has seen the package and has given me preliminary financing terms.
Proof of Funds
1031 Tax Deferred ExchangeI am not in an exchangeI may identify this asset subject to LOI negotiation(s)I have offically identified this asset with my intermediary
Additional Terms and Conditions
1st Deposit (Initial Deposit): Due within two (2) days of Effective Date
End of Initial Inspection Period Notification: Silence will deem acceptance
Estoppel(s): Seller will provide Anchor tenant & 75% of Shop Space tenants. Estoppels will be delivered to the tenants upon receipt of the Buyer’s second deposit at the conclusion of inspection period.
The following items will be provided to the Buyer within twenty-four(24) hours upon receipt of Initial Deposit.
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Document Name: Imperial Plaza - Letter of Intent
Agree & Sign