NON-BINDING RESERVATION
DEPOSIT
SHORELANDS BEACH
COTTAGES CONDOMINIUM
Western Avenue, Kennebunk, Maine
DATE:
____________
UNIT NO.
____________
RESERVATION DEPOSIT $
___________
PURCHASE
PRICE $ ___________
NAME/ADDRESS/TEL NO. OF BUYER
__________________________________________
____________________________________________________________________________
1. As confirmation
of their interest in purchasing this Unit, Buyers
have made this Reservation Deposit with Sellers.
This Reservation agreement will remain in effect
until replaced by a purchase and sales agreement or
until either the Buyer or the Seller terminates it.
2.
This Reservation Deposit shall be placed in escrow
in a non interest bearing account held by Joseph G.
Carleton, Jr., Attorney at Law, P.O. Box 369, Wells,
Maine 04090 (Escrow Agent), to be held accounted for
and delivered according to this agreement.
3. This
is not a purchase agreement or contract of sale. Neither the
Seller nor the Buyer are legally bound to sell or
purchase any real estate as a result of this Reservation
Deposit. Either the Seller or the Buyer may cancel this
Reservation Deposit at any time. The notice of
cancellation shall be in writing and a copy of the
notice must be sent to the Escrow Agent before the
deposit will be returned. Upon cancellation and return
of the Reservation Deposit, Buyers and Sellers shall
have no rights or obligations to each other.
The parties have hereto
signed this agreement on the day and year set forth
above.
