EXCLUSIVE RIGHT TO SELL LISTING AGREEMENT

For and in consideration of the professional services of the undersigned Broker, hereinafter referred to as Broker, the undersigned Owner, hereinafter referred to as Owner, hereby grants Broker the exclusive and irrevocable authorization and right to offer for sale or exchange the real property situated in the

City of _____________________________, County of _____________________________, State of Mississippi, described as: _________________________

_____________________________________________________________________________________________________________, commonly known as:

_______________________________________________________________________________________________________________________________, for the purchase price of: $______________________________, or upon any other price and terms acceptable to Owner.

1.       Owner agrees to pay Broker as compensation for professional services rendered a fee of ____________ percent (_____%) of the gross sales price if:

a.)      1.)     Broker procures a buyer during the term hereof on the terms specified herein or on any other terms acceptable to Owner.

2.)     The property is sold, exchanged or otherwise transferred during the term of this agreement, by Owner, or through any other source.

3.)     Owner prevents Broker from offering said property for sale or exchange.

4.)     Owner leases, sells, exchanges or otherwise transfers the property within one year after the termination or early termination of this Agreement or any extension thereof to anyone Broker contacted during the term of this Agreement.

b.)     Any commission or fee due Broker shall be earned and payable upon presentation of a buyer ready, willing and able, at a price and terms acceptable to Owner, although Broker may agree to accept said commission or fee at closing as an accommodation to Owner.

c.)      Broker understands that circumstances change, and on occasion an Owner will desire to withdraw their property from the market, and/or cancel their listing agreement. When this occurs, at the full discretion of the Broker, the Broker may authorize said withdrawal or cancellation. If Broker authorizes a property to be removed from the market, or listing agreement to be canceled there will be an early termination fee paid to Broker of $425.00 in lieu of above stated compensation. The early termination of this agreement does not relieve Owner of the provisions set forth in this agreement prior to said early termination.

2.       Broker is hereby authorized to:

a.)      Offer Buyers’ Brokers cooperation and compensation   

b.)     Participate in and offer disclosed Dual Agency and compensation   

In utilizing any of the agencies described above, Owner will not be liable for real estate commissions totaling more than the above stated fee.

3.       Owner authorizes Broker to place his sign on said property, remove all other signs, and advertise the property as Broker deems advisable. Owner authorizes Broker to install an MLS lock box. Owner authorizes Broker, after closing, to publish the sale price of the property to appraisers and other brokers.

4.       Should any deposit money be forfeited by any prospective buyer, one half of same shall be retained by Broker, providing said amount does not exceed the commission to which Broker would be entitled in such transaction.

5.       This Exclusive Right to Sell Listing Agreement shall be in effect for 180 days from the date of this agreement. If Owner executes any contract for the sale of the property within the term of this Agreement that will be consummated beyond the term, and that meets one or more of the specific criteria as set out in Paragraph 1, the term shall be extended until the consummation of this sale or the termination of the contract of sale as provided in this Agreement, whichever occurs first.

6.       Owner agrees to make available to Broker and prospective buyers all records and information pertaining to the property; and to disclose all hidden and visible defects in writing.  Owner hereby represents that he is  is not aware of any flooding, is  is not aware of any foundation or drainage problems with the subject property, is  is not aware of any  presence of urea formaldehyde insulation, is  is not aware of any radon gas, is  is not aware of any toxic mold, is  is not aware of any asbestos containing material, is  is not aware of any form of hazardous material.  Owner hereby represents that he is  is not aware of any defects of the subject property.  Owner agrees to complete a Property Condition Disclosure Statement as required by law and return the completed form to Broker within twenty-four hours after signing this agreement.  Owner hereby expressly authorizes Broker to disclose adverse material information regarding the condition of the property or its location to all interested parties.  Owner warrants the accuracy of the information furnished regarding the property and agrees to hold Broker harmless from any liability, damage or expense arising out of incorrect or undisclosed information.  Owner agrees to notify Broker promptly of any changes which may affect the property or this Agreement.  Owner agrees to cooperate with Broker and agrees to commit no act which interferes with Broker’s performance hereunder.

7.       Owner warrants that he is the owner of the property or has written authority to execute this agreement.  Should the property be sold or exchanged, Owner agrees to furnish a current clear termite certificate, a current certificate of title, and convey title by a General Warranty Deed, or leasehold assignment on leasehold property.  Should a title examination reveal defects which can be cured, Owner agrees to cure same as expeditiously as possible.  Owner agrees to transfer the following personal property, included in the above price, by warranty bill of sale to buyer at closing: ______________________________

___________________________________________________________________________________________________________________________.

8.       If a dispute arises between Owner and Broker relative to this agreement, both parties agree, (1) to submit such dispute to binding arbitration by the American Arbitration Association in accordance with its arbitration rules; and (2) judgment of the award rendered by the arbitrator(s) will be entered in the Circuit Court of Rankin County; and (3) the arbitration proceeding shall be conducted within Rankin County, Mississippi; and (4) any damages awarded must conform to the terms and conditions of this agreement; and (5) this transaction involves interstate commerce such that the Federal Arbitration Act, 9 U.S.C. Section 1 et seq. (1947 as amended) shall govern the interpretation and enforcement of this arbitration agreement along with all claims between or among any parties and the broker involved in this transaction; and (6) in any action, proceeding or arbitration arising out of this agreement, the prevailing party shall be entitled to reasonable attorney fees and costs limited to $5,000.00 and to be included in the award; and (7) any action at law regarding this agreement must be filed in the Circuit Court of Rankin County.

9.       Broker represents and warrants that he will further the interests of Owner in accordance with standards exercised by reasonably competent Broker operation in the State of Mississippi. Broker agrees to: (a) view said property and secure information regarding it; (b) advertise the property as Broker deems advisable; (c) make an earnest and continued effort to procure a buyer for said property; and (d) keep Owner informed as to the progress being made toward the consummation of a transaction.

10.    Owner acknowledges that he has received no legal or tax advice from Broker.  Owner understands that Broker is a marketing specialist only.  Owner understands further that Broker’s market evaluation of the property is based only on Brokers knowledge of comparable sales, and is not the equivalent of a formal appraisal.  Owner hereby acknowledges that Broker has advised Owner of the roles, potential value and functions of other specialists which Owner may require or wish to involve in this transaction, and has encouraged Owner to contact various community references, the telephone directory and local professional associations for information regarding the identity of providers of the services desired and, in addition, has agreed to provide Owner with partial lists of individuals providing services in the categories requested by Owner on the understanding that Broker does not guarantee the quality or reliability of the services provided by individuals included on such lists.  These categories include attorneys specializing in real estate, pest control companies, home inspection services, financial or tax consultants, surveyors, engineers, appraisers and mortgage lenders. Broker has no vicarious responsibility for these parties.

11.    This contract incorporates all prior agreements between the parties, contains the entire and final agreement of the parties, and cannot be changed except by their written consent.  Neither party shall be bound by any terms, conditions, oral statements, warranties, or representations not herein contained.  This agreement shall be governed by the laws of the state of Mississippi.  Each party acknowledges that he has read and understands this contract.  Gender and number, as herein used, shall be changed as the context may require.  Owner hereby acknowledges receipt of a duplicate original of this Agreement.

DATE: ___________________ BROKER: CENTURY 21 Maselle & Associates, by: _______________________________________________

DATE: ___________________ OWNER: _________________________________________________________

DATE: ___________________ OWNER: _________________________________________________________  

REAL ESTATE CONTRACT

THIS IS INTENDED TO BE A LEGALLY BINDING CONTRACT. YOU MAY WANT LEGAL ADVICE BEFORE SIGNING.

In consideration of the mutual promises contained herein, the undersigned Seller ________________________________________________________

agrees to sell, to the undersigned Buyer__________________________________________________, who agrees to buy, the herein described property on the terms and conditions stated below. Both Buyer and Seller acknowledge that the (a) Selling agency CENTURY 21 Maselle & Associates is the agent of:

both the Buyer and the Seller as a Dual Agent, (b) Listing agency ______Century 21 Maselle & Associates________ is the agent of:  the Seller exclusively,  both the Seller and the Buyer as a Dual Agent, and is/are the procuring cause of this sale.

1.        PROPERTY DESCRIPTION: Lot ________, Block/ Section _______, __________________________________________ Subdivision, Part _________,

____________________________________ County, Mississippi, and all improvements commonly known as _____________________________________

_______________________________________________________________________ Together with all fixtures including heating and air conditioning equipment, built-in appliances, attached mirrors, fixed barbeque grill, lighting fixtures, ceiling fans, flowers and shrubs, curtain rods and hangers, blinds and shutters, mailbox, T.V. antenna, garage door opener and all remote

controls, gas logs, and all other items permanently attached except_________________________________________________________________________

_______________________________________________________________________________ which do not remain. Personal property such as furniture,

curtains, drapes, wall hangings, and area rugs are excluded from this sale, except _____________________________________________________________

___________________________________________________________________________________________________ which have no value and remain.

Seller will transfer _______% of the mineral rights which he possesses in the real property to the Buyer.

2.        PRICE: The purchase price of the property is                                                                                   ..……………………………..…..... $ _________________

Payable as follows:

        Certified or Local Cashiers Check at closeout, subject to adjustments and prorations …………………………………….….…… $ _________________

Should Buyer fail or refuse within seven days of this contract to apply for such loan, or refuse to diligently pursue loan approval, or take discretionary action that disqualifies Buyer for such loan, or fail or refuse after the issuance of an unconditional loan commitment, to execute all documents necessary for said loan, Buyer shall be considered in default under the terms of this contract and Seller shall have such recourse as is delineated in paragraph 11 hereof.

Buyer shall provide within seven days of this contract to Seller or Seller’s Agent a pre-approval letter from Buyer’s mortgage company.

If purchase is by cash the Buyer is to provide within seven days of this contract a verification of funds or source of funds in the amount equal to or greater then the amount of the purchase price plus the Buyer’s closing costs. If Buyer is unable or refuses to provide said verification of funds, Buyer shall be considered in default under the terms of this contract and Seller shall have such recourse as is delineated in paragraph 11 hereof.

.

3.        PRIVACY ACT: Signature of Buyer on this contract or offer is authorization by Buyer to mortgage company processing a loan application to examine the credit worthiness of Buyer, and to release any information pertinent to Buyer’s ability to qualify for and obtain above stated loan to the Buyer’s real estate agent and/or broker. Signature of Seller on this contract is authorization to any mortgage company to release any information pertinent to the mortgage secured by the subject property to aforesaid real estate agent and/or broker and the closing attorney.

CERTAIN COSTS PAID BY:  (S for Seller; B for Buyer; N/A if not applicable)

Loan Title Insurance: _______;  Loan Transfer Fees: ______;  Lease Transfer Fees: _______; 

Attorney’s Settlement Fee: _______; Recording Fees: _______; Certificate of Title and transfer instrument:

_______;  Other closing costs: _______ not to exceed $_____________;  CENTURY 21 Home Protection Plan _______ in the amount of $____________; Prepaid and Escrow items by B;  Owner Title Insurance by B if desired. If Buyer’s lender requires, or other government regulations require any different assessment of costs, the parties agree that such regulations and/or requirements supersede the terms of this paragraph and shall be binding on the parties. If said lender requirements and/or regulations result in increased cost to the Seller, then the purchase price, down payment, and/or loan amount will be adjusted to compensate Seller for his increased costs. If any of the above costs being paid by the Seller are eliminated or reduced due to the election of the Buyer or a change in Buyer’s lender’s terms, a full credit for the cost reduction to Seller will be given to the Buyer by a reduction in the purchase price, and down payment and/or loan amount.

4.        DEPOSIT: Buyer has deposited with the undersigned Broker the sum of $ ______________________ cash   credit card  check, which will be held in a non-interest bearing account. The money deposit is deposited in escrow with the understanding that Escrow Agent (a) is not party to this contract and does not assume or have any liability for performance or non-performance of Seller or Buyer, is not liable for interest or other charge on the deposit money, and (d) may at his sole discretion pay the money deposit funds to the party Broker in his judgment believes is entitled to receive them in accordance with the clear and explicit terms of this Contract, or he may choose to place the earnest deposit money with a court of competent jurisdiction in the event of any dispute money deposit shall be applied to any cash down payment required, then to Buyer’s closing costs, and any excess refunded to Buyer.

5.        CLOSING & POSSESSION: Closing shall be on _______________________, or before if mutually agreed upon in writing by both the Buyer and Seller.

 Possession upon completion of closing and disbursement of funds. Seller agrees to vacate property prior to closing.

6.        COMMISSION: Seller of property sold under this contract agrees to pay Seller’s Broker as per their listing agreement, or through any other renegotiated

agreement between the parties or their assigns. Seller agrees to pay Buyer’s Broker _________ % commission on the total purchase price, as a negotiated term of this contract. Unless disclosed Dual Agency, Seller fully understands and hereby acknowledges that Buyer’s Broker does not represent Seller’s interests. If Brokers collect this commission or any part thereof through legal action, Seller agrees to pay court costs and reasonable attorney’s fees. This agreement shall not limit the rights of Broker as set forth in any listing agreement, and said listing agreement is extended through the closing date of this contract or any other renegotiated contract between the parties hereto or their assigns. Any commission or fee due hereunder shall be earned and payable upon presentation of Buyer ready, willing and able at any price and terms acceptable to Seller, although Brokers agree to accept said commission or fee at closing as an accommodation to Seller.

7.        INSURANCE: If this sale is by new first loan, Buyer shall provide new policies at closing.

8.        PRORATION: (a) Advance rents, property taxes, and maintenance fees of the property are to be prorated as of the closing date. Security deposits or considerations involving future lease credits shall be credited to Buyer as of the closing date.

9.        TITLE AND CONVEYANCE: Seller is to convey Title by General Warranty Deed  Lease Assignment  Special Warranty Deed  Quit Claim Deed and provide Buyer with a Certificate of Title prepared by an attorney upon whose Certificate, Title Insurance may be obtained from a title insurance company qualified to do and doing business in the state of Mississippi. Seller shall, prior to or at closing, satisfy all outstanding mortgages, deeds of trust and special liens affecting the subject property which are not specifically assumed by Buyer herein. Title shall be good and marketable, subject only to the following items recorded in the Chancery Clerk’s office of said County: easements without encroachments, applicable zoning ordinances, protective covenants and restrictions, articles of incorporation, bylaws, rules and regulations and prior mineral reservations; Seller represents that the property may be legally used as zoned and that no government agency has served any notice requiring repairs, alterations or corrections of any existing condition except as stated herein.

10.     BREACH OF CONTRACT: Specific performance is the essence of this contract, except as otherwise specifically provided for and as further delineated below:

(a)      In the event of breach of this contract by Buyer, Seller at his option may either: (1) accept the deposit money as liquidated damages and this contract shall then be null and void, or (2) enter suit in Rankin County Mississippi for damages, giving credit on said damages for the said  money deposit, or (3) enter suit in Rankin County, Mississippi for specific performance. If Seller accepts the money deposit as liquidated damages; or if Seller litigates for additional damages in any court of law, Broker shall be paid one half (1/2) of the money deposit, or damages awarded, but not to exceed the full commission provided for herein. If Seller succeeds in a suit for specific performance, Broker shall be paid the full commission by Seller.

(b)      In the event of breach of contract by Seller, Buyer at his option may either: (1) accept the return of the  money deposit and cancel the contract, or (2) enter suit for damages in Rankin County, Mississippi, or (3) enter suit in Rankin County, Mississippi for specific performance. In the event of breach of contract by Seller, Broker shall be paid the full commission by Seller regardless of any action taken by Buyer.

(c)      If it becomes necessary to insure the performance of the conditions of this contract for either party to hire legal counsel, then the defaulting party agrees to pay reasonable attorney’s fees and court costs in connection therewith.

11.     VENUE: Venue of any action filed by either party to the contract, whether against each other or any broker or agent involved shall be the Circuit Court of Rankin County.

12.     SURVIVAL OF CONTRACT: All written representations, warranties and covenants contained herein shall survive closing except where herein specified to the contrary. All other contractual obligations shall terminate with the closing.

13.     PROPERTY CONDITIONS, INSPECTION AND ACCEPTANCE OF PROPERTY: Seller agrees to deliver to Buyer the structure (foundation, walls and roof), plumbing, heating, electrical, air conditioning, all built-in appliances, and if one exists, the swimming pool, its equipment and accessories, in as good a condition at the closing as they were on the effective date of this contract, ordinary wear and tear excepted. If the items in the preceding sentence are not in such condition at the time of closing, then Seller is obligated to put them in such condition, or to compensate Buyer at closing for his failure to do so.  . A final walk through inspection may be conducted by Buyer just before closing to assure that all systems and appliances are operational, and that all other prior agreements related to condition have been fulfilled. After completing walk through Buyer agrees to sign a Declaration of Acceptance accepting the premises in their present condition, with no exceptions unless spelled out in writing on said Declaration of Acceptance with remedy agreed to in writing by Seller. Seller agrees to provide an “As is all faults” Property Condition Disclosure Statement to Buyer or his agent within 48 hours of this contract, and it shall become part of this contract The Seller agrees to reaffirm the accuracy of the “As is all faults” Property Condition Disclosure Statement at closing by resigning said Disclosure. 

14.     TERMITE INSPECTION: Seller agrees to furnish and pay for a report from a state licensed and bonded termite control operator, stating that the property is free from active termite or other wood destroying insects, and structural insecurities therefrom, and free from standing water or moisture problems under or about the house.. Said report shall be in a form acceptable to Buyer’s lender

15.     EXPANSIVE SOILS (Yazoo Clay): Buyer understands that expansive soils/clays have been found to have caused foundation problems in certain areas of Mississippi. Buyer assumes the responsibility of having the subject property tested and/or inspected to determine if expansive soils/clays are present and if foundation damage has been caused thereby. Buyer acknowledges that a soil test has been recommended.

16.     LEAD BASED PAINT: Approximate Year Home Was Built _________ Source ___________________________. Approximately three-quarters of the homes built in the United States before 1978 contains some lead-based paint. Lead poisoning can cause permanent damage to the brain and many other organs and causes reduced intelligence and behavioral problems. Lead can also cause abnormal fetal development in pregnant women. Buyer is aware that the age of the property might make it suspect that ''Lead-Based Paint'' might have been used. In accordance with ''HUD'' and ''EPA'' final rulings as set forth in 61 Federal Regulation 9064 (March 6, 1996) and in compliance with Section 1018 of the Residential Lead-Based Paint Hazard Reduction Act of 1992 (Title X of the Housing and Community Development Act of 1992, P.L. 102-550), the Seller does give notice to the Buyer that Buyer has twelve (12) days to conduct the Risk Assessment of Inspection as provided therein and has provided all available records or reports pertaining thereto. Buyer, by initialing below, acknowledges receipt of the ''Lead-Based Paint'' pamphlet required by HUD and EPA.

Buyer____________ Buyer ____________ has received the ''Lead-Based Paint'' pamphlet required by HUD and EPA.

17.     SYNTHETIC STUCCO: Home was constructed with Synthetic Stucco “EIFS”  Yes  No  Unknown

Synthetic stucco or "EIFS" (Exterior Insulation Finish Systems) differs from "real" or "hard" stucco by utilizing an insulated sheathing board and a fiberglass mesh. The finish is a synthetic material made to look like real stucco. It has been found that the possibility of moisture damage exists in homes with synthetic stucco exteriors. Therefore, an inspection of the interior and exterior by a qualified inspector is strongly recommended.

18.     TOXIC MOLDS: Buyer is advised that the presence of certain kinds of mold (fungus) may adversely affect the property and may cause health problems for certain individuals. Conditions that can cause mold, including certain types of mold that may be toxic, include flooding, window and roof leaks, water under the home, leaky pipes as well as other conditions that may allow for water intrusion. Molds often are undetectable from a visual inspection and are not revealed during a general home inspection or pest/termite inspection. In fact, mold can be hidden in the walls and not known to any parties to the transaction. Real estate agents are not qualified to provide opinions or advice concerning mold, or construction defects in a home that could lead to such conditions. Only certain environmental experts, including but not limited to industrial hygienists, are qualified to inspect and test for mold. Buyer is strongly advised to have the property inspected for the existence of mold and/or any conditions that would lead to the development of mold. This is especially important in the event that any disclosures are made, or any conditions are observed, which indicate a current or prior water intrusion problem. Buyer acknowledges that a mold test has been recommended.

19.     CURRENT APPRAISAL: A real estate agent or broker can provide an “opinion of value” but is not qualified or licensed to provide a formal appraisal. It is the job of the licensed appraiser to determine the value of a property by gathering, analyzing, and applying information pertinent to a property. The appraiser is trained to be an impartial third party in rendering an appraised value; an appraisal by a licensed appraiser is vital in protecting a buyer from overpaying for a property. Buyer acknowledges that a current appraisal has been recommended.

20.     CURRENT SURVEY: Although property lines do not move, fences, roads, permanent structures, etc. over time are moved or added on and around a property. Even though there might be an existing survey available, we strongly advise a current survey when purchasing a property. A survey can uncover conditions such as but not limited to: encroachments, disputed property lines, erroneous legal description, utility easements, misconceptions of property lines, and misrepresented property size. Buyer acknowledges that a current survey has been recommended.

21.     GENERAL HOME INSPECTION: It is important to learn as much as possible about the condition of a property before you buy. A general home inspection can minimize unpleasant surprises and difficulties after the purchase. A home inspection provides an impartial, in-depth evaluation of the physical condition of the property both mechanically and structurally. A home inspection can help you in planning and budgeting for future home repairs by letting you know what kind of life expectancy might be had from the major components and systems. It can also identify items that need to be repaired or replaced, make observations of potential problems that indicate the need for further specialized inspections, and also uncover latent defects of which are material to the value of the property, all of which can aid you in making the ultimate decision on whether to purchase a particular home or not. Buyer acknowledges that a general home inspection has been recommended.

22.     INSPECTIONS: Buyer desires to have the following inspections, tests, etc. (Buyer to initial his selections):

General Home Inspection:                                _________ Yes _________ No                                               Engineer’s Report:                   ________ Yes ________No

Stucco Inspection:                            _________ Yes _________ No                                               Current Survey:                        ________ Yes ________No

Mold Test:                                       _________ Yes _________ No                                               Soil Tests:                                ________ Yes ________No

Current Appraisal:                            _________ Yes _________ No                                               Lead Based Paint Test:             ________ Yes ________No

Septic System Inspection:                                _________ Yes _________ No                                              

Buyer has the obligation of ordering these inspections, tests, reports or surveys at his expense unless provision for payment has been made elsewhere in this contract. Regardless of Buyer’s above elections, Buyer agrees to hold CENTURY 21 Maselle & Associates and/or it’s agents and/or employees harmless and assumes the risk of any current or future conditions that would and/or could be revealed by a third party inspection(s). Even if Buyer has indicated an inspection is not desired, Buyer may still order such inspection.

23.     HOME WARRANTY: It is highly recommended that a Buyer obtain a Home Warranty. A basic Home Warranty will typically cover the major mechanical and electrical systems, appliances, and heating and air conditioning equipment for one year less a small deductible. It will also typically offer additional coverage at a very reasonable cost for such things as roof leaks, swimming pool equipment, garage door opener, as well as other items set forth in the Home Warranty. However, a warranty should not be purchased as a substitute for a home inspection that can determine preexisting conditions, which are excluded and are not covered by a Home Warranty. Both Buyer and Seller understand CENTURY 21 Maselle & Associates is paid a commission whenever a warranty is purchased through them. Buyer acknowledges that a home warranty has been recommended.

24.     RISK OF LOSS: This contract is further conditioned upon delivery of the improvements in their present condition and in the event of material damage by fire or otherwise in excess of ten (10) percent of the above purchase price before closing, Buyer may declare this contract void and shall be entitled to the return of his earnest money, or Buyer may elect to complete the transaction in accordance with this contract and the property is to be restored by Seller at Seller’s expense prior to closing. Seller agrees to keep the subject property insured against fire and extended coverage risks until closing. Seller’s liability to repair shall not exceed the purchase price.

25.     RESPONSIBILITY OF BROKERS: Brokers assume no responsibility for the performance of this contract by either party hereto or for the condition of the subject property.

26.     EQUAL HOUSING OPPORTUNITY: CENTURY 21 Maselle & Associates does business in accordance with the Federal Fair Housing Law (Section 809, Title VIII). It is illegal to discriminate against any person because of race, color, religion, sex, handicap, familial status or national origin in the sale or rental of housing or residential lots, in advertising the sale or rental of housing, in the financing of housing, in the providing of real estate brokerage services, or in blockbusting.

27.     STATEMENT OF PARTIES: Buyer acknowledges that he has been advised of the protection offered by owner’s title insurance. Buyer acknowledges that he has been encouraged to secure third party inspections of the property to verify its condition. Buyer acknowledges that he has not received or relied upon any statements or representations regarding the effect of this transaction upon Buyer’s tax or legal liability, the size or the condition of the property, lot dimensions and/or boundary lines, expansive soils, drainage problems, previous flooding or the presence of urea formaldehyde insulation, radon gas, toxic mold, moisture problems, asbestos containing material, lead-based paint, or any form of hazardous material, and agrees to hold Broker harmless from any liability with regard to these items, conditions, or statements. Seller hereby acknowledges that he has not received or relied upon any statements or representations regarding the effect of this transaction upon Seller’s tax or legal liability, or the enforceability of any due-on-sale clauses in any existing loan documents, and agrees to hold Broker harmless from any liability with regard to the same. This contract incorporates all prior agreements and representations between the parties, contains the entire and final agreement of the parties, and cannot be changed except by their written consent. Neither party or their Brokers has relied upon or shall be bound by any terms, conditions, statements or representations made by the other party or the agents bringing the parties together not contained herein. Each party acknowledges that he has read and understands this contract. The provisions of this contract shall apply to and bind the heirs, executors, administrators, successors and assigns of the respective parties hereto. Gender and number, as herein used, shall be changed as the context may require. This contract shall be governed by the laws of the state of Mississippi. If any provision of this contract is invalid or unenforceable, the other provisions herein shall remain in full force and effect and shall be liberally construed in order to effectuate the purpose and intent of this contract. Each party hereby acknowledges receipt of a duplicate original hereof. Handwritten provisions inserted in this form shall supersede any and all typewritten provisions in conflict therewith, and typewritten provisions shall supersede conflicting printed provisions. The facsimile transmission of a signed copy hereof to the other party, followed by an acknowledgement or receipt sent by facsimile transmission shall constitute delivery of a signed document.

28.     ADDENDUMS: ________ Addendum(s)  �is/are attached,  �is not attached.

29.     MANDATORY ARBITRATION: Both Buyer and Seller {hereinafter “parties”} acknowledge, understand and agree that: (1) any controversy, claim, action or inaction arising out of, or relating to, the “purchase” set out herein, as against the listing broker or selling broker and/or their agents or representatives {hereinafter “company”} involved in this transaction, shall be resolved by arbitration administered by the American Arbitration Association in accordance with its arbitration rules; and (2) judgment of the award rendered by the arbitrator(s) will be entered in the Circuit Court of Rankin County; and (3) the arbitration proceeding shall be conducted within Rankin County, Mississippi; and (4) any damages awarded must conform to the terms and conditions of the “purchase”; and (5) this transaction involves interstate commerce such that the Federal Arbitration Act, 9 U.S.C. Section 1 et seq. (1947 as amended) shall govern the interpretation and enforcement of this arbitration agreement along with all claims between or among any parties and the company(ies) involved in this transaction; and (6) any action at law regarding this agreement must be filed in the Circuit Court of Rankin County.

City _________________ State_____ Date _____________ Time________               City_________________ State_____ Date_____________ Time________

Buyer _____________________________________________                    Seller _____________________________________________ 

Buyer _____________________________________________                    Seller _____________________________________________ 

Subject to clearance of any check, Broker acknowledges receipt of the above mentioned money deposit and holds same in trust subject to the terms of this

contract. Broker: CENTURY 21 Maselle & Associates By: ______________________________________________________________________________

Convey title to (please print): ______________________________________________________________________________________________________