AGREEMENT made this......day........, 19..., between ............

hereinafter designated as the seller, and ............ hereinafter designated as the purchaser.

The seller agrees to sell the lot of land described in Schedule A, hereto annexed, and to convey the same to the purchaser by a proper deed for the sum of ........ dollars, and the purchaser agrees to purchase said lot and pay said price therefor as follows:

.................... dollars in cash on the execution and delivery of this agreement, receipt whereof is hereby acknowledged..........................

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.......... dollars by the purchaser executing and delivering to the seller the bond of the purchaser conditioned for the payment of said sum on the ......

day of........, 19..., with interest thereon at the rate of......per cent per annum payable semi-annually, secured by a purchase money mortgage covering said premises, which shall contain the clauses usually employed by the Title Guarantee and Trust Company in its mortgages, and also a clause to the effect that if the purchaser does not proceed with the erection of the building as hereinafter provided, such bond and mortgage and the amount secured thereby shall become due at the option of the holder thereof. The deed shall recite a consideration of one hundred dollars and other valuable consideration.

Said deed and bond and mortgage shall be delivered at the office of the

Title Guarantee and Trust Company, ..........Borough of.........., in the

City of New York on the......day of........, 19..., at......o'clock .. .M.

The purchaser agrees within one month of the date hereof to cause to be prepared by a competent architect, plans and specifications conforming with all laws and municipal regulations and satisfactory to the seller for the erection upon said land of the building described in Schedule B, hereto annexed (hereinafter designated as the building), and after obtaining the seller's approval, continuously to proceed with the erection of said building so that the same will be enclosed within ...... months after the delivery of said deed and completely finished and ready for occupancy within ........ months after said delivery..

The seller agrees that if the purchaser proceeds with the erection of the building as above provided, the seller will loan or procure to be loaned to the purchaser the sum of......dollars to be advanced in installments as set forth in Schedule C, hereto annexed, which loan shall be secured by the bond of the purchaser conditioned for the repayment of the amounts so advanced on

........, 19..., with interest thereon at the rate of......per cent per annum, payable semi-annually, secured by a mortgage covering said premises, in which the wife of the purchaser, if any, shall join, which shall be a valid lien next after such purchase money mortgage for all sums that may be advanced thereon, subject to no encumbrance, except such as may be waived by the seller, or at the option of the seller or any holder thereof said mortgage, which is hereafter referred to as the building loan mortgage, shall be a first lien on said premises for all sums that may be advanced thereon, and then the purchase money mortgage to be given as hereinbefore provided shall be a second lien on said premises, subject only to said building loan mortgage. The building loan mortgage shall contain the clauses usually employed by the Title Guarantee and Trust Company in its building loan mortgages.

And the parties hereto further agree with each other as follows: that the seller may employ a watchman to protect the building from depredation or injury; that if the construction of said building should be discontinued at any time or should not be carried on with reasonable despatch, the seller may purchase materials and employ workmen to complete or protect said building so that the same will not suffer from depredation or the weather; that if any mechanic's lien or liens should be filed against said premises, the seller may retain or may deposit in behalf of the purchaser, with the Clerk of the County of........sums sufficient to satisfy such lien or liens; that if interest should become overdue on any prior mortgage, the seller may pay the same; that if any taxes, assessments or water rates affecting said premises should become due and remain unpaid, the seller may pay the same, and any sums paid or expended in accordance with any of the foregoing clauses shall be deemed to be advanced to the purchaser and to be secured by said bond and building loan mortgage, and may be applied at the option of the seller to any advances thereafter becoming due.

If the purchaser should assign this contract or any interest therein, or assign any right to receive any payment or portion of a payment herein provided for, or give to any person or corporation an order on the seller for the payment of any moneys payable under this agreement, or should convey said premises or any interest therein, or if said premises should become encumbered by any lien or encumbrance, not herein provided for, or if the purchaser should not proceed continuously with the erection and completion of said building (stoppage by reason of actual strikes excepted), or if a petition in bankruptcy should be filed by or against the purchaser, or if default should be made in the payment of interest upon any of the mortgages herein mentioned, or if the building should be materially injured or destroyed by fire or other casualty, or if the plans and specifications should not be satisfactory to the seller, or if said plans should not be approved by the Building Department before an advance is demanded, or if the materials and construction be not satisfactory to the seller, or if any materials, fixtures or articles used in the construction of the building, or appurtenant thereto, should be purchased by the purchaser so that the absolute ownership thereof would not vest in the purchaser immediately on delivery at said building, or if the purchaser should not produce upon demand, the contracts, bills of sale and agreements, or any of them, under which the purchaser claims title to the materials, fixtures and articles used in the construction of the building and appurtenant thereto, or if the building should materially encroach on property not owned by the purchaser or if there should be at any time any note or notice of any violation of law or of any municipal regulation or ordinance filed in or issued by any public department or authority, whenever, and as often as any such event occurs, all obligation on the part of the seller or the holder of said building loan mortgage to make or procure any further advances shall cease if the seller so elect, and the said building loan mortgage debt shall become due and payable at the option of the seller or of the holder of said building loan mortgage, anything in said bond or building loan mortgage contained to the contrary notwithstanding; but the holder of said building loan mortgage may make advances thereafter without becoming liable to make any other advances, and without thereby waiving the right to demand payment of said mortgage debt. Said building loan mortgage may contain the foregoing provisions or any of them, but the omission of any of said provisions shall not be a waiver of any of them.