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PURCHASE & SALE AGREEMENT
THIS AGREEMENT made and entered into the
day of __________, 200__,
by and between , Ducks Unlimited, Inc. a non-profit corporation organized under the
laws of the District of Columbia of One Waterfowl Way, Memphis, Tennessee 38120,
hereinafter referred to as Seller, and ____________________________________
hereinafter referred to as Buyer; WITNESSETH:
1. PROPERTY. Seller agrees to sell and convey and Buyer agrees to purchase real
property, located in ________________ County(s), North Dakota which real
property is legally described as follows, to-wit:
See Exhibit A attached hereto (to be attached)
The sale shall also be subject to any other rights, easements, reservations and
restrictions of record as set forth in the title commitment.
The conveyance shall include all rights, privileges, easements and appurtenances
to the property, including all easements, rights-of-way and other appurtenances
used or connected with the beneficial use or enjoyment of the property and all
right, title and interest in and to all streets, watercourses or water bodies adjacent
to, abutting or serving the property:
EXCEPT the buyer agrees that it shall not engage in any exploration of or
development of any minerals, gas or oil on the property subject to this Agreement.
Seller shall retain and reserve to itself, successors, and assigns any carbon
sequestration credits that may become available as a result of the activities of the
Seller on the Property. Reservation of carbon sequestration credits in Seller, if
any, shall not impair, restrict, or limit Buyer and its assigns in the management of,
activities on, or use of the above described property all of which shall be at its
sole discretion with no rights of the Seller in such decision.
In the event that any of Buyer’s management practices, activities, or use of the
property restricts, impairs, lessens, or damages any of the present or future carbon
sequestration credits or their values, then in such an event the Buyer and its
assigns shall not be responsible for any liability, obligation, responsibility, or
damage caused by said management, activities, and use of the property subject to
this Agreement. In the event any taxes become due and payable by reason of
valuation of any present or future carbon sequestration credits attributable to the
property subject to this Agreement, the Seller and its assigns shall pay the same as
they become due and payable. This provision shall survive closing.
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