Project No.:	enter text	Designation:	enter text
Project ID:	enter text	Parcel No.:	enter text

This contract stipulates the terms of sale of this property. Read carefully before signing. This is a legally binding contract. If not understood, seek competent legal advice.

Name and Address of Seller:

enter name & address

Purchaser:	Montana Department of Transportation (MDT)

2701 Prospect Avenue

PO Box 201001

Helena, MT 59620-1001

This Agreement is executed on the day and year executed by the parties hereto. For $1.00 and other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, Seller and Purchaser, as listed, hereby agree that the Seller shall sell and Purchaser shall purchase the following described Real Estate and Personal Property as hereinafter provided.

LEGAL DESCRIPTION OF THE REAL ESTATE:

A tract of land containing enter text, more or less, located in Section enter text, Township enter text, Range enter text, P.M.,M., enter text County, Montana.

More particularly described as: enter text

Transfer of Water Rights: Seller shall transfer to Purchaser Water Certificate # enter text. [Or, The real property does not have any water rights].

DESCRIPTION OF PERSONAL PROPERTY:

enter text

PURCHASE PRICE:	$ enter text

Deposit (Earnest money)¹	$ enter text

Due in cash at closing²	$ enter text

¹ To be held in escrow by Title Ins. Co/Escrow Co.

² Plus or minus any amounts as may be necessary to complete payment of purchase after credits, adjustments and prorations.

CONVEYANCE: Seller shall convey the real property by Warranty Deed, free of all liens and encumbrances except those described in the title insurance section of this Agreement.

TITLE INSURANCE: At the Purchaser’s discretion, Seller, at Seller’s expense, shall furnish Purchaser Title Insurance in amount equal to the purchase price, insuring merchantable title to the real property in the Purchaser’s name, without title reservations, free and clear of all liens and encumbrances except: zoning ordinances, building and use restrictions, reservations in federal patents, beneficial utility easements apparent or of record, easements of record, Special Improvement Districts (including rural SIDs) if any. In the event that Seller cannot provide merchantable title by the time of closing, at the election of Purchaser, this contract will terminate and the earnest money shall be returned to the Purchaser.

CONTINGENCIES: A “contingency” is any portion of this Agreement (or any addendum hereto which has been signed by both parties) that indicates that it is contingent on some condition or on the happening of some event. The transaction shall proceed to closing only after all contingencies are released, waived, or satisfied in writing. In the event that this Agreement is terminated due to a contingency listed herein, except for the Appraisal Contingency, that is not released, waived, or satisfied, then the earnest money will be returned to the Purchaser, this Agreement shall terminate, and the Seller shall have no remedy against the Purchaser. In the event that Purchaser terminates this agreement as a result of the Appraisal Contingency listed below, then Seller shall retain the earnest money, this agreement shall terminate, and Seller shall have no other remedy against the Purchaser. Nothing contained herein shall prevent the Seller and Purchaser from negotiating a resolution of a dispute with a written modification of this Agreement.

This Agreement is contingent upon the Purchaser’s independent investigation of the following conditions relating to the property, including but not limited to; covenants; zoning; access; easements; well depths; septic and sanitation restrictions; surveys or other means of establishing the corners and boundaries; special improvement districts; restrictions affecting use (floodplains, Planning Board issues, etc.); special building requirements; future assessments; utility hook up and installation costs; environmental hazards; building inspection; protective covenants; access; unrecorded contract interest, including leases; legal advice; or anything else Purchaser deems appropriate.

APPRAISAL CONTINGENCY: This Agreement is also contingent upon the review and approval by Purchaser of an MDT or other appraisal of the subject property. The property must appraise for at least the purchase price stated above. If the property does not appraise for at least the specified amount, then the transaction is terminated unless the Purchaser, in its sole discretion, elects to proceed with the transaction without regard to the appraised value. Written notice of Purchaser’s election to proceed shall be given to Seller within ten (10) days of Purchaser receiving notice of the appraised value of the property.

SURVEY and ENVIRONMENTAL CONTINGENCY: Additionally, this agreement is contingent upon a review and approval by Purchaser’s Survey Division of any survey conducted on or for the acquisition of the subject property. Additionally it is contingent upon review and approval of Purchaser’s Environmental Division pertaining to hazardous materials on site, Historical and Culturally significant sites, and Wetlands.

Additional Contingencies: enter text

RISK OF LOSS: All loss or damage to any of the above-described real property or personal property by any cause is assumed by SELLER through the time of closing.

TIME IS OF THE ESSENCE: Time is of the essence in this Agreement and all clauses herein.

FACSIMILE: The parties agree that a facsimile copy of this Agreement, which contains the parties’ signatures, may be used as the original.

COUNTERPARTS: A copy of this document may be executed by each individual/entity separately, and when each has executed a copy thereof, such copies, taken together, shall be deemed to be a full complete contract between the parties.

EARNEST MONEY DISPUTES: Purchaser and Seller agree that, in the event of any controversy regarding the earnest money and things of value held by the closing agent, unless mutual written instructions are received by the holder of the earnest money and things of value, closing agent shall not be required to take any action, but may await any proceedings, or at closing agent’s option and sole discretion, may interplead all parties and deposit any monies or things of value in a court of competent jurisdiction.

ALTERNATIVE DISPUTE RESOLUTION: At any time, the parties may agree to submit a dispute arising out of this transaction to mediation or arbitration. The parties, by agreement, shall specify mediation OR binding arbitration. The cost of the alternative dispute resolution shall be paid equally by the parties.

ADDITIONAL PROVISIONS: enter text

DEFAULT BY PURCHASER: If Purchaser fails to perform any of the covenants of this contract, all money paid pursuant to this contract by Purchaser as aforesaid shall be retained by or for the account of the Seller as consideration for the execution of this contract and as agreed liquidated damages and in full settlement of any claims for damages.

DEFAULT BY SELLER: If the Seller fails to perform any of the covenants of this contract, the aforesaid money paid by the Purchaser, at the option of the Purchaser, shall be returned to the Purchaser on demand; or the Purchaser shall have only the right of specific performance.

CONSENT TO DISCLOSE INFORMATION: Purchaser and Seller hereby consent to the procurement and disclosure by the Purchaser, Seller and agents thereof to any and all information reasonably necessary to consummate the transaction described in this Agreement, specifically including access to escrows for the review of contracts, deeds, trust indentures, or similar documents concerning this property or underlying obligations pertaining thereto.

BINDING EFFECT AND NON-ASSIGNABILITY: The Agreement is binding upon the heirs, successors, personal representatives, distributes, and assigns of each of the parties hereto: however, Purchaser’s rights under this Agreement are not assignable without the Seller’s express written consent.

CLOSING DOCUMENTS AND PLACE OF CLOSING: enter text, A bonded Title Insurance Company chosen by Agreement of both parties to this transaction, shall hold in escrow the earnest money deposit, prepare all documents, underwrite the title insurance, and conduct the closing.

CLOSING DATE: This contract shall be closed on or before Click or tap to enter a date.. If needed for the discharge and release of contingencies, the closing date shall be extended up to thirty days. Seller and Purchaser may agree in writing to additional extensions of the closing date. Seller and Purchaser will deposit with the closing agent all instruments and monies necessary to complete the purchase in accordance with this Agreement.

CLOSING COSTS: Each party shall pay the attorney’s fees and costs incurred by that party. Seller and Purchaser shall each pay one-half of the cost of the closing agent. Each party shall pay the recording costs necessary for their interests. Seller shall pay the cost of title insurance as set forth in this document. Purchaser shall pay all costs of inspection, including the cost of the appraisal.

POSSESSION: Possession shall be delivered to Purchaser at closing.

ADDENDUM ATTACHED:	☐ Yes	☐ No

ENTIRE AGREEMENT: This Agreement, together with any attached exhibits and any addenda or amendments signed by the parties, shall constitute the entire agreement between Seller and Purchaser and supersedes any other written or oral agreements between Seller and Purchaser. This Agreement can be modified only in writing, signed by the Seller and Purchaser.

SELLER:

Seller’s Statement: We understand that we are required by law to provide our correct taxpayer identification number(s) to the Montana Department of Transportation and that failing to comply may subject us to civil and criminal penalties. We agree to provide our correct taxpayer identification number(s) by submitting a completed and signed W-9 or W-8 form. We further agree and authorize MDT to process the payments outlined in this agreement by withholding a percentage of the payments as required by the IRS if we fail to submit the W-9 or W-8 forms within 30 days of signing this agreement.

Choose a building block.

PURCHASER: STATE OF MONTANA, DEPARTMENT OF TRANSPORTATION:

Date:
District Right-of-Way Supervisor

Date:
R/W Acquisition Manager