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2 3 4 5 6 2. 7 8 9 10 11 12 13 14 15 3. 16 17 18 19 20 21 22 23 24 25 4. 26 0 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 This document has legal consequences. If you do not understand It, consult your attorney. Form # 2043 10/2004 31745645 @ST. LOUIS ASSOCIATION OF REAL TORS@ Approved by Counsel for the SL Louis Association of Realtors@ SPECIAL SALE CONTRACT DATE: April 22,2005 Note: This form does not have many clauses protecting Buyers included in the Residential Sale Contract, Form #2090. It should normally be used only for the sale of property without provision for building, termite, environmental, gas, municipal, insurability, and other inspections. 1. PARTIES AND PROPERTY. Highland Development Company Buyer(s), agrees to purchase from the undersigned Seller, the following real property located in the County of St. Louis Missouri (legal description on Seller's title to govem) being all the real property Seller owns at said address: 122 Limit, University City, MO 63130. Vacant land SE Corner Limit/Clemens. INCLUSIONS AND EXCLUSIONS. The purchase price includes all eXisting Improvements on the property (if any) and appurtenances, fixtures and equipment (which Seller guarantees to own free and clear) including: (Note: To avoid misunderstanding, the parties are urged to list as "included" or "excluded" any items which may be subject to any questions). (n addition, the following items are included: The following items are excluded: PURCHASE PRICE. $ 225.000 $ 5.000 is the total purchase/sale price to be paid as follows: earnest money received for delivery to/deposit by Old Republic Title Clayton, MO , escrow agent. Selling broker to be escrow agent if none specified above. $ additional earnest money to be delivered to escrow agent within days after the "Acceptance Deadline" date or The balance, including adjustments set forth in Paragraphs 4 or 7, less, if applicable, any amount of Seller financing or of Seller's loan being assumed as stipulated in this contract, is to be paid at closing, by cashier's check, wire transfer or any form acceptable to dosing agent. METHOD OF FINANCING. Conventional, FHA or VA Financing. Buyer agrees to do all things necessary, including, but not limited to the execution of a loan application and other instruments, the payment to the lender of the credit report, appraisal and any other required fees, and to otherwise cooperate fully in order to obtain the financing described below. If Buyer does not deliver written notice, provided by Buyer's lender, to Seller or listing Broker, of Buyer's inability to obtain a loan commitment on the terms described below on or before (the "Loan Commitment Date") then this condition shall be deemed waived and Buyer's performance under this contract shall thereafter not be conditioned upon Buyer's obtaining financing. If lender will not give Buyer such written notice then Buyer may directly notify Seller or listing broker (on or before the Loan Commitment Date) by providing a notarized affidavit that Buyer has complied with all of the terms of this paragraph and that despite request, Buyer was unable to obtain such written notice from lender. If Buyer has complied with the terms of this paragraph and has timely provided written notice to Seller or listing broker of Buyer'S inability to obtain the loan commitment, then this contract shall be terminated with earnest money to be returned to Buyer, subject to paragraph 12. Note: If Loan Commitment Date passes without a rejection as outlined above, Buyer remains obllgated under this contract. Therefore, Buyer should be certain that he will have the funds to close. If Buyer's performance under this contract is to be independently conditioned upon the property appraising at a specified value, then Buyer should complete and attach to this contract an appropriate appraisal rider. 1 at6