Acre Pal LLC — Purchase Terms of Use

Seller: Acre Pal LLC | Website: Acre Pal http://acrepal.com

1. Agreement of Purchase and Sale

By entering into this agreement, Buyer agrees to purchase the property described in Exhibit “A” (parcel numbers and legal descriptions) from Acre Pal LLC under the terms outlined herein.

2. Purchase Price & Payment Options

Acre Pal offers two purchase structures:

Cash Purchase

A down payment is due within 2 days of signing.
The remaining balance is due on the Closing Date via cashier’s check, wire transfer, certified funds, or money order.

Terms/Installment Purchase

A down payment is due within 2 days of signing.
The remaining balance is paid in equal monthly installments of principal and interest over an agreed amortization period.
⚠️ A Balloon Payment may apply — the final payment may be significantly larger than regular monthly payments.
Payments are applied in this order: late fees → service fees → accrued interest → principal.

3. Processing & Service Fees

A one-time processing fee is due upon signing or full performance of the agreement.
For installment purchases, a monthly servicing fee is added to each payment.
All service fees are non-refundable, except as provided in Section 9.1 (Thirty-Day Cancellation).

4. Property Taxes

Current-year property taxes are prorated over 12 months.
Cash buyers: Seller pays the pro-rated amount to the County Treasurer within 14 days of closing.
Installment buyers: Monthly tax amounts are included in the monthly payment; Seller remits taxes to the County Treasurer when due.
Buyer is responsible for all taxes assessed after the deed transfer date.

5. Possession & Use

Cash buyers receive full and exclusive possession immediately upon full performance of the agreement.
Installment buyers receive possession immediately upon signing, subject to termination if Buyer defaults.
Seller retains legal title to the property until all obligations are fully satisfied.

6. Closing & Deed Delivery

Closing must occur by the agreed Closing Date. All deadlines are strict and absolute — time is of the essence.
If closing does not occur by the deadline, the agreement is automatically terminated and Seller retains any earnest money as liquidated damages.
Upon full payment, Seller delivers a Special Warranty Deed, free of all liens and encumbrances.
Seller submits the deed for recording within 30 days of final payment and delivers the recorded deed to Buyer within 7 days of receipt.

7. Closing Costs

Buyer pays all transfer taxes, survey costs, title policy, escrow, and closing fees.
Prorations (taxes, HOA fees, utilities, etc.) are calculated as of the closing/funding date on a 30-day month basis and are final.
If Buyer receives any post-closing tax refunds that Seller had previously paid, Buyer must immediately remit those funds to Seller.

8. Property Condition — As-Is Sale

All properties are sold “as is, where is, and with all faults.”
No warranties, representations, or guarantees are made by Seller.
Buyer releases Seller from all liability for any damage or defects.
Any repairs, improvements, or construction are Buyer’s sole responsibility and expense.
Seller reserves the right to inspect the property at any time before full payment is received.

9. Cancellation and the 365-Day Land Exchange

9.1 Thirty-Day Cancellation (installment purchases). Buyer may cancel an installment purchase by written notice to Seller within 30 days of the effective date. Seller will refund all payments Buyer has made, except the one-time processing fee, which covers the loan documentation, and the 3% card processing fee where the down payment was made by credit or debit card. Cancellation under this section is not a default, and Section 12 does not apply to it. Cash purchases are not eligible because legal title transfers at full payment.

9.2 The 365-Day Land Exchange (installment purchases). At any time within 365 days of the original effective date, and provided Buyer’s account is current on all payments at the time of the exchange, Buyer may exchange the property for any other property then in Seller’s inventory of equal or greater price, and may do so any number of times within that period. All payments Buyer has made are credited toward the replacement property, and Buyer pays the price difference under the replacement property’s published pricing and terms, plus a new documentation fee on each exchange. Exchanges into a lower-priced property are not permitted. The 365-day period runs from the original effective date and does not restart on an exchange. An exchange is not a default, and Section 12 does not apply to it.

9.3 Outside the windows described in Sections 9.1 and 9.2, purchases are final except as otherwise provided in these Terms.

10. Prepayment (Installment Purchases)

Buyer may fully or partially prepay at any time without penalty. Partial prepayments are applied first to fees and accrued interest, then to principal. Prepayment does not change the regular monthly installment schedule.

11. Late Payments & NSF Fees (Installment Purchases)

A $50 late fee applies to any payment more than 5 days overdue.
A $25 NSF fee applies to any returned or declined payment.

12. Default & Remedies (Installment Purchases)

This section applies only when Buyer is in default. It does not apply to a cancellation under Section 9.1 or an exchange under Section 9.2 of these Terms; neither is a default.

If Buyer defaults and does not cure within 30 days of written notice, Seller may terminate the agreement and declare all remaining amounts immediately due.
Upon termination, all rights to the property are forfeited, all payments made are retained by Seller as liquidated damages, and Buyer must immediately surrender possession.
Any personal property left on site may be considered abandoned and disposed of by Seller.

13. Insurance Requirements (Installment Purchases)

Buyer must maintain one of the following from signing through full payoff, with Seller named as an additional insured:

General Liability: minimum $1,000,000 per occurrence / $2,000,000 aggregate, or
Umbrella coverage through an existing homeowner’s or renter’s policy at equivalent limits.

Buyers unable to obtain coverage may request a waiver from Seller.

14. Property Maintenance & Compliance

Buyer must maintain the property in good condition and comply with all applicable laws, regulations, and restrictive covenants.
Buyer may not demolish improvements, commit waste, or allow liens to accrue against the property.
Code violations must be remedied promptly. Administrative fees of $250 per violation notice apply, plus $500 per travel day if Seller must visit the property to verify compliance.
An official code violation notice constitutes a default event.

15. Assignment

Seller may freely assign its interest in the agreement.
Buyer may not transfer or assign any interest without Seller’s prior written consent, which may be withheld at Seller’s sole discretion.

16. Title Insurance

Seller may, at its sole discretion, provide a standard owner’s title insurance policy. If Seller does not, Buyer may obtain coverage at Buyer’s own expense.

17. Condemnation

If the property is taken through eminent domain, any proceeds must be applied toward the outstanding balance. Any remaining balance after full payment may be retained by Buyer.

18. Limited Power of Attorney

By signing, Buyer appoints Acre Pal LLC as Buyer’s limited agent to execute any deeds, transfer documents, or government-required filings necessary to complete the title transfer. This power of attorney is non-revocable and coupled with an interest.

19. Notices

All official notices must be in writing and sent via certified mail, email, overnight courier, facsimile, or personal delivery. Notices are deemed received 48 hours after mailing, or immediately upon email/fax/personal delivery.

20. General Provisions

No Brokers: No brokerage commissions are due. Buyer indemnifies Seller against any third-party broker claims.
Attorneys’ Fees: The breaching party pays all legal fees of the non-breaching party.
Amendments: Any modifications must be in writing and signed by both parties.
No Recording: Neither party may record this agreement with the County Recorder.
Entire Agreement: This document supersedes all prior discussions and agreements.
No Agency: The parties are independent — no joint venture, agency, or partnership is created.
Severability: If any provision is found unenforceable, the remainder of the agreement remains valid.
Legal Counsel: Buyer acknowledges having had the opportunity to review this agreement with independent legal counsel.
Governing Law: Disputes are subject to the exclusive jurisdiction of the applicable state courts as designated in the executed contract.

This document is a summary of Acre Pal LLC’s Standard Purchase Contract and incorporated Terms and Conditions. It is intended to be read together with the executed agreement. In the event of any conflict, the terms of the executed Purchase Contract control. This constitutes a legally binding agreement.