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Nevada Standard Residential Purchase Agreement Form

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Nevada Standard Residential Purchase Agreement Form Page 3
Nevada Standard Residential Purchase Agreement Form
Property Address
their agents. The following items are specifically excluded from the above:
.
Seller's obligations under this provision are not intended to create a duty to repair an item that may fail after possession is
delivered. Buyer and Seller acknowledge that Broker is not responsible for any alleged breach of these covenants.
14. INSPECTIONS OF PHYSICAL CONDITION OF PROPERTY. Buyer will have the right to retain, at his or her expense, licensed experts
including but not limited to engineers, geologists, architects, contractors, surveyors, arborists, and structural pest control operators to
inspect the property for any structural and nonstructural conditions, including matters concerning roofing, electrical, plumbing, heating,
cooling, appliances, well, septic system, pool, boundaries, geological and environmental hazards, toxic substances including asbestos, mold,
formaldehyde, radon gas, and lead-based paint. Buyer, if requested by Seller in writing, will promptly furnish, at no cost to Seller, copies of
all written inspection reports obtained. Buyer will approve or disapprove in writing all inspection reports obtained within days
after acceptance. In the event of Buyer's disapproval, Buyer may, within the time stated or mutually agreed upon extension, elect to
terminate this Agreement, or invite Seller to negotiate repairs. ( See P.P. Form 101-M, Addendum Regarding Removal of Inspection
Contingencies.)
15. MAINTENANCE. Until possession is delivered, Seller will maintain all structures, landscaping, grounds, and pool in the same
general condition as of the date of acceptance or physical inspection, whichever is later. Seller agrees to deliver the property in
a neat and clean condition with all debris and personal belongings removed.
16. PERSONAL PROPERTY. The following personal property, on the premises when inspected by Buyer, is included in the purchase price
and will be transferred to Buyer free of liens and properly identified by a Bill of Sale at close of escrow. Unless itemized here, per-
sonal property is not included in the sale. No warranty is made as to the condition of the personal property:
.
17. SELLER'S REAL PROPERTY DISCLOSURE STATEMENT (SRPDS). Seller will comply with Chapter 113, Nevada Revised Statutes by
providing Buyer with a completed Seller's Real Property Disclosure Statement.
Buyer has received and read the completed SRPDS.
Seller will provide to Buyer the completed SRPDS within days after acceptance.
Buyer and Seller agree that any new reports or other documents received by Buyer after receipt of the SRPDS are automatically
deemed an amendment to the SRPDS. If any disclosure or a material amendment of any disclosure is delivered after the execution
of an offer to purchase, Buyer will have three (3) days after delivery in person or five (5) days after deposit in the mail to
terminate his or her offer by delivery of a written notice of termination to Seller or Seller's Agent.
Seller agrees to hold all Brokers in the transaction harmless and to defend and indemnify them from any claim, demand, action
or proceedings resulting from any omission or alleged omission by Seller in his or her Real Property Disclosure Statement or supplement.
18. SUPPLEMENT TO STATUTORY DISCLOSURE STATEMENT. The following supplemental disclosures are attached or, if not, will be
provided to the Buyer at time of acceptance:
CONSENT TO ACT, DUTIES OWED BY LICENSEE, CONFIRMATION OF AGENCY RELATIONSHIP,
STANDARD DISCLOSURES AND DISCLAIMERS, LEAD-BASED PAINT DISCLOSURE,
COMMON INTEREST COMMUNITY INFORMATION STATEMENT
In the event the property is new construction, the following aditional disclosures will be provided:
PUBLIC OFFERING STATEMENT, GAMING CORRIDOR DISCLOSURE, NOTICE OF WATER/SEWAGE RATES,
PUBLIC SERVICES AND UTILITIES DISCLOSURE, ELECTRIC TRANSMISSION LINE EASEMENTS,
NOTICE OF IMPACT FEES, NOTICE OF CONSTRUCTION RECOVERY FUND
OTHER
19. SAFETY BOOKLETS. By initialing below, Buyer acknowledges receipt of the following booklets:
[ ____ ] [ ____ ] Approved Lead-Based Paint Pamphlet [ ____ ] [ ____ ] Other:
20. ACCESS TO PROPERTY. Seller agrees to provide reasonable access to the property to Buyer and inspectors, appraisers, and all
other professionals representing Buyer.
21. WALK-THROUGH INSPECTION. Buyer will have the right to conduct a walk-through inspection of the property within days
prior to close of escrow, to verify Seller's compliance with the provisions under Item 12, FIXTURES, Item 13, CONDITION OF
PROPERTY, Item 15, MAINTENANCE, and Item 16, PERSONAL PROPERTY. This right is not a condition of this Agreement, and
Buyer's sole remedy for an alleged breach of these items is a claim for damages. Utilities are to remain turned on until the close of escrow.
22. COMPLIANCE WITH LOCAL LAWS. Seller will comply with any local laws applicable to the sale or transfer of the property,
including but not limited to: Providing inspections and/or reports for compliance with local building and permit regulations,
including septic system inspection reports; compliance with minimum energy conservation standards; and compliance with water
conservation measures. All required inspections and reports will be ordered within three (3) days after acceptance and will be
paid by Seller, Buyer. If Seller does not agree within days after receipt of a report to pay the cost of any repair or
improvement required to comply with such laws, Buyer may terminate this Agreement. It is understood that if Seller has given
notice that necessary permits or final approvals were not obtained for some improvements, Seller will not be responsible for bring-
ing the improvements into compliance unless otherwise agreed.
23. OPTIONAL PROVISIONS. The provisions in this Item 23, IF INITIALED BY BUYER are included in this Agreement.
23-A. [ ____ ] [ ____ ] PEST CONTROL INSPECTION. Inspection to be paid for by Buyer, Seller. The main building and all struc-
tures on the property to be inspected by a licensed pest control operator, the inspection to be completed within days
of acceptance. Seller to pay for: (1) elimination of infestation and/or infection of wood-destroying pests or organisms; (2) repair
of damage caused by such infestation and/or infection; (3) correction of conditions which caused said damage; and (4) repair
of plumbing and other leaks and repair of damage caused by such leaks. Seller will not be responsible for preventive work
where no damage is found, except where required for FHA or VA financing. Seller agrees to pay an amount NOT to exceed
$
If the inspecting pest control operator recommends further inspection of inaccessible areas, Buyer may require that said areas
Buyer [ ______ ] [ ______ ] and Seller [ ______ ] [ ______ ] have read this page.
CAUTION: The copyright laws of the United States forbid the unauthorized reproduction of this form by any
means including scanning or computerized formats.
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FORM 101-R.3 NEV (03-2002)
Nevada Standard Residential Purchase Agreement Form