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Lot Installment Agreement
"I need a Lot Installment Agreement for selling a residential lot in Florida to a private buyer, with monthly installments over 15 years starting March 2025, including specific provisions for early payment options and property maintenance during the installment period."
1. Parties: Identification of seller and purchaser with complete legal names and addresses
2. Background: Context of the agreement and brief description of the transaction
3. Definitions: Key terms used throughout the agreement
4. Property Description: Legal description of the lot, including boundaries and specifications
5. Purchase Price and Payment Terms: Total purchase price, down payment, installment amounts, and payment schedule
6. Title and Possession: Terms regarding transfer of title and possession rights
7. Default Provisions: Consequences and remedies in case of default
8. Governing Law: Applicable jurisdiction and governing law
1. Insurance Requirements: Optional section specifying property insurance obligations and coverage requirements
2. Property Maintenance: Optional section detailing maintenance obligations during the installment period
3. Assignment Rights: Optional section specifying rights to assign or transfer the agreement
1. Schedule A - Property Description: Detailed legal description of the property including metes and bounds or lot designation
2. Schedule B - Payment Schedule: Detailed amortization schedule showing all installment payments
3. Schedule C - Title Exceptions: List of any existing liens, encumbrances, or title exceptions
4. Appendix A - Property Survey: Survey document showing property boundaries and dimensions
5. Appendix B - Property Inspection Report: Report detailing current condition of the property if applicable
Authors
Property
Lot
Purchase Price
Down Payment
Installment Payment
Payment Schedule
Closing Date
Default
Deed
Effective Date
Escrow Agent
Interest Rate
Late Payment Fee
Legal Description
Liens
Party/Parties
Possession Date
Principal Balance
Property Taxes
Purchaser
Recording
Seller
Title
Title Insurance
Transfer of Title
Zoning Laws
Encumbrances
Improvements
Insurance Requirements
Maintenance Obligations
Default Notice
Cure Period
Transfer Rights
Permitted Use
Purchase Price
Payment Terms
Title Transfer
Possession
Default and Remedies
Insurance
Property Taxes
Maintenance
Rights and Obligations
Assignment
Recording
Notices
Representations and Warranties
Governing Law
Dispute Resolution
Force Majeure
Severability
Entire Agreement
Amendment
Survival
Indemnification
Property Use
Compliance with Laws
Risk of Loss
Title Insurance
Escrow
Default Interest
Acceleration
Termination
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