This is a form especially favorable to the vendor. It differs from the usual form of land contract in the following particulars:

(a) It contains a clause authorizing vendor to serve a notice of forfeiture by mail on the vendee or by delivering same to the premises.

(b) It compels the vendee to pay the specific mortgage tax and an attorney fee in the event of forfeiture of contract.

(c) It provides that in the event title should prove defective, vendor shall have a reasonable length of time to perfect title.

(d) It provides in he event vendee shall fail to make necessary repairs, vendor may effect such repairs and charge them against the contract.

(e) It provides that upon default in making payments vendor shall have the right to declare the entire balance due upon the contract.

(f) It provides that in the event the vendee shall assign the contract, reception of payment by the vendor from the assignee, shall not be deemed to be an implied consent of such an assignment. This contract is very harsh in its provisions towards the vendee and counsel for the vendee would be justified in refusing to accept such an agreement, except under very unusual conditions.

This contract made and entered into this (here insert date) by and between (here insert residence) hereinafter referred to as party of the first part and (here insert name of vendee) of (here insert residence of vendee) hereinafter referred to as party of the second part, Witnesseth:

The said party of the first part, in consideration of the sum of (here insert amount to be paid) to be duly paid, hereby agrees to sell unto the party of the second part all that certain piece or parcel of land lying and being situate in the (here insert where property is located) in the County of..................and

State of Michigan, and more particularly known and described as (here described property) for the sum of (here insert consideration) dollars, which the said party of the second part agrees to pay to the party of the first part, as follows: ............

dollars at the date hereof, and the remaining....................dollars representing the balance of the purchase price in the following manner, to wit: ................ dollars on or before ................ days from date, at which time the parties hereto agree to execute and deliver a land contract embodying the terms, conditions and stipulations herein set forth and concurrently possession of said property shall be given to party of the second part. The remainder of said purchase price shall be paid in monthly installments at the rate of................dollars per month including interest at the rate of six per cent. on all sums which may from time to time remain unpaid on the balance of said purchase price, said interest to be computed monthly from the date of the execution of the said land contract. Said party of second part from and after the date of the execution of said land contract and the taking possession by him of said real estate agrees to pay all taxes and assessments extraordinary as well as ordinary that shall be taxed or assessed on said premises from and after such date until said sum shall be fully paid as aforesaid.

It is further agreed that said land contract when executed shall contain the following clauses and provisions:

(a) Party of the second part further agrees to enter for taxation in his own name and pay within forty (40) days after the same shall become payable, all taxes, assessments, extraordinary, as well as ordinary, that may be levied thereon, including the................taxes for the year 19...., also in case party of the first part is obliged to bring any action for the enforcement of this contract, party of the second part will pay the specific mortgage tax of $5.00 per thousand dollars of the amount secured, and all costs of such action, including a reasonable attorney fee for serving notice of termination and representation of first party in court, not to exceed $10.00. All such taxes, assessments, costs, and expenses shall, if not paid by second party upon demand, be added to the balance of the principal sum due hereunder and shall bear interest thereafter at........per cent. per annum.

(b) Party of the second part will keep all buildings and improvements upon and to be placed upon said premises insured in a responsible insurance company which party of the first part shall have the option of selecting if he so desires, in an amount to be approved by first party for the benefit of first party, until the purchase money is fully paid; and the said party of the second part shall and will keep the buildings and all other improvements upon said premises in good repair. Should party of the second part fail to keep said buildings and improvements insured, or to make necessary repairs to prevent damage to the buildings, party of the first part may effect such insurance, and may cause said repairs to be made and the expense thereof shall be added to the principal sum due hereunder and bear interest at six per cent. per annum until paid.

(c) Party of the second part accepts this contract subject to all or any building restrictions shown in the chain of title, and agrees to conform to same, and when the premises are finally conveyed to him, will accept a deed subject to such restrictions.

(d) Party of the first part shall have the right to place a mortgage upon said premises for any part of the unpaid balance, and party of the second part upon paying this contract down to said mortgage will accept a deed subject to said mortgage and will assume and pay same.

(e) Time shall be of the essence of this contract, and if second party shall fail to make any of the payments or perform any of the conditions above set forth, in the manner and at the time above limited therefor, party of the first part shall immediately after such failure have the right to declare this contract terminated, and may thereupon retain whatever may have been paid hereon, and the premises, together with all buildings and improvements, as stipulated damages for the breach of this contract, and rent for the use of said premises. In such event the premises shall be surrendered to first party and said first party shall have the right to enter and repossess same, and second party shall be deemed and treated as a tenant or tenants holding over without permission. Any notice of such termination may be given to second party by mailing same to his last known address, or by delivery to the premises. In addition to the foregoing remedy, but not in limitation thereof, first party shall, in case of default of second party, have the right to declare the entire balance due upon this contract and proceed to immediate collection thereof, either by suit at law or equity.

(f) Upon the execution of this contract, and so long as party of the second part shall not have defaulted thereunder, party of the second part shall have possession of said premises, and upon payment to first party of the sums chargeable hereon and the performance of all agreements herein, in the manner and at the times above limited, party of the first part upon surrender of this contract will execute and deliver to said party of the second part a good and sufficient warranty deed of said premises warranting same against all liens and encumbrances, except such as may have accrued on said land or buildings thereon subsequent to the date hereof, by or through the acts of negligence of any party or parties other than party of the first part hereto and except any and all restrictions heretofore imposed upon or against the use of said premises, and will also furnish an abstract of title showing marketable title in first party or parties.

(g) Party of the second part shall not assign this contract without the consent of party of the first part being first endorsed in writing hereon, and no payments received by first party upon this contract after such assignment shall be deemed or considered an implied consent to such assignment.

It is further agreed that the party of the first part shall furnish the party of the second part within ten days from date, an abstract of title brought down to date, which abstract shall show a merchantable title in party of the first part.

It is further agreed that should the title to said real estate prove to be defective, the part of the first part shall have additional time in which to perfect said title, such additional time in no case to exceed six months.

If party of the first part himself holds the property under land contract, then state as follows: "Which abstract of title shall show a good marketable title in (here name vendors of the party of the first part).

It is further agreed that this contract shall convey no equity to party of the first part in said premises and in the event said party of the second part fails, neglects, or refuses to make said payment of................dollars and to execute the said land contract as herein provided, then the party of the first part hereof may retain any sums paid hereunder as liquidated damages on the failure of said party of the second part to perform this contract in accordance with the terms and conditions thereof.

In witness hereof, the parties have hereunto set their hands this....................day of.....................

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In the presence of

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