Common use of Purchase Price Payments Clause in Contracts

Purchase Price Payments. For each Lot the Purchase Price shall be the sum of the “Initial Purchase Price” of (i) Twenty-Seven Thousand Five Hundred and 00/100 Dollars ($27,500.00) per Townhome Lot, and (ii) Forty-Two Thousand Five and 00/100 Dollars ($42,500.00) per SFD 45’ Lot, paid by Purchaser to Seller by wire transfer or other immediately available and collectible funds (“Good Funds”), and the “Deferred Purchase Price” of (A) Twenty-Seven Thousand Five Hundred and 00/100 Dollars ($27,500.00) per Townhome Lot, and (B) Forty-Two Thousand Five Hundred and 00/100 Dollars ($42,500.00) per SFD 45’ Lot, paid by Purchaser to Seller in Good Funds, for a total of (1) Fifty-Five Thousand and 00/100 Dollars ($55,000.00) per Townhome Lot, and (2) Eighty-Five Thousand and 00/100 Dollars ($85,000.00) per SFD 45’ Lot (subject to adjustment as hereinafter provided in Section 2(b) of this Contract). The Deferred Purchase Price for the Lots acquired by Purchaser at each Closing shall be paid in accordance with the provisions set forth in Section 5(c) hereof and the Lot Development Agreement, and Purchaser’s obligation to pay the Deferred Purchase Price shall be evidenced by a promissory note in the amount of the Deferred Purchase Price due at such Closing (“DP Note”) which shall be secured by a deed of trust (“DP Deed of Trust”) to be recorded in the Records at Closing against title to the Lots purchased at such Closing. The form of the DP Note and the DP Deed of Trust shall be agreed upon by the Parties not more than thirty (30) days after the Effective Date hereof.

Purchase Price Payments. For each Lot the Purchase Price shall be the sum of the “Initial Purchase Price” of (i) Twenty-Seven Twenty Thousand Five Hundred and 00/100 Dollars ($27,500.0020,000.00) per Townhome Lot, and (ii) Forty-Two Thousand Five and 00/100 Dollars ($42,500.00) per SFD 45’ Paired Lot, paid by Purchaser to Seller by wire transfer or other immediately available and collectible funds (“Good Funds”), and the “Deferred Purchase Price” of (A) TwentyForty-Seven One Thousand Five Nine Hundred and 00/100 Dollars ($27,500.0041,900.00) per Townhome Lot, and (B) Forty-Two Thousand Five Hundred and 00/100 Dollars ($42,500.00) per SFD 45’ Paired Lot, paid by Purchaser to Seller in Good Funds, for a total of (1) Fifty-Five Sixty One Thousand Nine Hundred and 00/100 Dollars ($55,000.0061,900.00) per Townhome Paired Lot, and (2) Eighty-Five Thousand and 00/100 Dollars ($85,000.00) per SFD 45’ Lot (subject to the Escalator adjustment as hereinafter provided in Section 2(b) of this Contract). The Deferred Purchase Price for the Lots acquired by Purchaser at each the First Closing shall be paid in accordance with secured by Good Funds or a letter of credit delivered by Purchaser into escrow at the provisions set forth First Closing, the Deferred Purchase Price for the Lots acquired by Purchaser at the Second Closing shall be secured by Good Funds or a letter of credit delivered by Purchaser into escrow at the Second Closing, the Deferred Purchase Price for the Lots acquired by Purchaser at the Third Closing shall be secured by Good Funds or a letter of credit delivered by Purchaser into escrow at the Third Closing, and the Deferred Purchase Price for the Lots acquired by Purchaser at the Fourth Closing shall be secured by Good Funds or a letter of credit delivered by Purchaser into escrow at the Fourth Closing, as more particularly described in Section 5(c) hereof and the Lot Development Agreement, and Purchaser’s obligation to pay the Deferred Purchase Price shall be evidenced by a promissory note in the amount of the Deferred Purchase Price due at such Closing (“DP Note”) which shall be secured by a deed of trust (“DP Deed of Trust”) to be recorded in the Records at Closing against title to the Lots purchased at such Closing. The form of the DP Note and the DP Deed of Trust shall be agreed upon by the Parties not more than thirty (30) days after the Effective Date hereofbelow.

Purchase Price Payments. For each Lot Lot, the Purchase Price shall be the sum of the “Initial Purchase Price” of of: (i) Twenty-Seven Twenty Thousand Five Hundred and 00/100 Dollars ($27,500.0020,000.00) per Townhome Lot, and (ii) FortyTwenty-Two Nine Thousand Five and 00/100 Dollars ($42,500.0029,000.00) per SFD 45’ Lot, paid by Purchaser to Seller by wire transfer or other immediately available and collectible funds (“Good Funds”), and the “Deferred Purchase Price” of (A) Twenty-Seven Forty Thousand Five Hundred and 00/100 Dollars ($27,500.0040,000.00) per Townhome Lot, and (B) FortyFifty-Two Eight Thousand Five Hundred and 00/100 Dollars ($42,500.0058,000.00) per SFD 45’ Lot, paid by Purchaser to Seller in Good Funds, for a total of (1) Fifty-Five Sixty Thousand and 00/100 Dollars ($55,000.0060,000.00) per Townhome Lot, Lot and (2) Eighty-Five Seven Thousand and 00/100 Dollars ($85,000.0087,000.00) per SFD 45’ Lot (subject to adjustment as hereinafter provided in Section 2(b) of this Contract). The As more particularly described in Section 5(c)(iv), below, the Deferred Purchase Price for the Lots acquired by Purchaser at each the First Closing shall be paid in accordance with the provisions set forth in Section 5(c) hereof and the Lot Development Agreement, and Purchaser’s obligation to pay the Deferred Purchase Price shall be evidenced by a promissory note in the amount of the Deferred Purchase Price due at such Closing (“DP Note”) which shall be secured by a deed letter of trust (“DP Deed of Trust”) to be recorded in credit delivered by Purchaser into escrow at the Records at Closing against title to First Closing, the Deferred Purchase Price for the Lots purchased acquired by Purchaser at such the Second Closing shall be secured by a letter of credit delivered by Purchaser into escrow at the Second Closing. The form , the Deferred Purchase Price for the Lots acquired by Purchaser at the Third Closing shall be secured by a letter of credit delivered by Purchaser into escrow at the DP Note Third Closing, and the DP Deed of Trust Deferred Purchase Price for the Lots acquired by Purchaser at the Fourth Closing shall be agreed upon secured by a letter of credit delivered by Purchaser into escrow at the Parties not more than thirty (30) days after the Effective Date hereofFourth Closing.

Purchase Price Payments. For each Lot the Purchase Price shall be the sum of the “Initial Purchase Price” of of: (i) Twenty-Seven Four Thousand Five Hundred and 00/100 Dollars ($27,500.0024,000.00) per Townhome 35’ Alley Load Lot, and (ii) FortyTwenty-Two Nine Thousand Five and 00/100 Dollars ($42,500.0029,000.00) per SFD 45’ Lot, paid by Purchaser to Seller by wire transfer or other immediately available and collectible funds (“Good Funds”), and the “Deferred Purchase Price” of (A) TwentyForty-Seven Eight Thousand Five Three Hundred and 00/100 Dollars ($27,500.0048,300.00) per Townhome 35’ Alley Load Lot, and (B) FortyFifty-Two Eight Thousand Five Hundred and 00/100 Dollars ($42,500.0058,000.00) per SFD 45’ Lot, paid by Purchaser to Seller in Good Funds, for a total of (1) FiftySeventy-Five Two Thousand Three Hundred and 00/100 Dollars ($72,300.00) per 35’ Alley Load Lot and (2) Eighty-Seven Thousand and 00/100 Dollars ($55,000.00) per Townhome Lot, and (2) Eighty-Five Thousand and 00/100 Dollars ($85,000.0087,000.00) per SFD 45’ Lot (subject to adjustment as hereinafter provided in Section 2(b) of this Contract). The As more particularly described in Section 5(c)(iv), below, the Deferred Purchase Price for the Lots acquired by Purchaser at each the First Closing shall be paid in accordance with the provisions set forth in Section 5(c) hereof and the Lot Development Agreement, and Purchaser’s obligation to pay the Deferred Purchase Price shall be evidenced by a promissory note in the amount of the Deferred Purchase Price due at such Closing (“DP Note”) which shall be secured by a deed letter of trust (“DP Deed of Trust”) to be recorded in credit delivered by Purchaser into escrow at the Records at Closing against title to First Closing, the Deferred Purchase Price for the Lots purchased acquired by Purchaser at such the Second Closing shall be secured by a letter of credit delivered by Purchaser into escrow at the Second Closing. The form , the Deferred Purchase Price for the Lots acquired by Purchaser at the Third Closing shall be secured by a letter of credit delivered by Purchaser into escrow at the DP Note Third Closing, and the DP Deed of Trust Deferred Purchase Price for the Lots acquired by Purchaser at the Fourth Closing shall be agreed upon secured by a letter of credit delivered by Purchaser into escrow at the Parties not more than thirty (30) days after the Effective Date hereofFourth Closing.