THIS MEMORANDUM WITNESSETH, THAT..........hereby agree to purchase at the price of .......... Dollars, the following described real estate, situated in the County of..........and State of Illinois:..............

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Section..........Township..........North, Range..........East of the Third

Principal Meridian, and..........agrees to sell said premises at said price, and to convey to said purchaser a good and merchantable title thereto, by general Warranty Deed, but subject to: (1) existing leases expiring..........

the purchaser to be entitled to the rents from..........; (2) all taxes and assessments levied after the year 19......; (3) any unpaid special taxes or assessments levied for improvements not yet made, also subject to............

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Said purchaser has paid....................... Dollars, as earnest money, to be applied on such purchase when consummated, and agrees to pay within five days after the title has been examined and found good, or accepted by him, the further sum of..............Dollars, at the office of..............

provided a good and sufficient general Warranty Deed, conveying to said purchaser a good and merchantable title to said premises (subject as aforesaid), shall then be ready for delivery. The balance to be paid as follows: with interest from the date hereof at the rate of........per cent per annum, payable semi-annually, to be secured by the purchaser's notes and mortgage, or trust deed, of even date herewith, on said premises, in the form known as the CHICAGO REAL ESTATE BOARD FORM, for........improved property.

A Certificate of Title issued by the Registrar of Titles of..........County, or complete merchantable Abstract of Title, or merchantable copy, shall be furnished by the vendor within a reasonable time, brought down to date hereof, which abstract shall, upon the consummation of this sale, remain with the vendor, or his assigns, as part of his security, until the deferred installments are fully paid. The purchaser or his attorney shall, within ten days after receiving such abstract, deliver to the vendor or his agent, (together with the abstract), a note or memorandum in writing, signed by him or his attorney, specifying in detail the objections he makes to the title, if any; or, if none, then stating in substance that the same is satisfactory. In case material defects be found in said title, and so reported, then if such defects be not cured within sixty days after such notice thereof, this contract shall, at the purchaser's option become absolutely null and void, and said earnest money shall be returned; notice of such election to be given to the vendor; but the purchaser may nevertheless elect to take such title as it then is, and in such case the vendor shall convey, as above agreed; provided, however, that such purchaser shall have first given a written notice of such election, within ten days after the expiration of the said sixty days, and tendered performance hereof on his part. In default of such notice of election to perform, and accompanying tender, within the time so limited, the purchaser shall, without further action by either party, be deemed to have abandoned his claim upon said premises, and thereupon this contract shall cease to have any force or effect as against said premises, or the title thereto, or any right or interest therein, but not otherwise.

Should said purchaser fail to perform this contract promptly on his part, at the time and in the manner herein specified, the earnest money paid as above, shall, at the option of the vendor, be forfeited as liquidated damages, and this contract shall thereupon become and be null and void. Time is of the essence of this contract, and of all the conditions hereof.

The notices required to be given by the terms of this agreement shall in all cases be construed to mean notices in writing, signed by or on behalf of the party giving the same, and the same may be served either upon the other party or his agent.

This contract and the said earnest money shall be held by.........for the mutual benefit of the parties concerned, and after the consummation of the sale ..he., shall be at liberty to retain the canceled contract permanently: and it shall be the duty of said ..........in case said earnest money be forfeited as herein provided, to apply the same, first, to the payment of any expenses incurred for the vendor by his agent in said matter, and second, to the payment to vendor's broker of a commission of......per cent on the selling price herein mentioned, for his services in procuring this contract rendering the overplus to the vendor.

WITNESS the hands of the parties hereto, this......day of.....A. D. 19...

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