Fractional Dutch Auctions of Commercial Income-Producing Real Estate Properties - TIC Plan Ownership Syndications

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Due Diligence Documentation "Exhibit P-11"

Syndicator's Real Estate Purchase & Sale Agreement

The following notes are provided pertaining to this exhibit:

  1. What: a real estate purchase and sale agreement that allows the investing public to purchase an ownership interest (or interests, as the case may be) in the Syndicate to-be-formed once the Syndication has been successfully completed.

  2. When: this document must be generated prior to the commencement of the syndication process.

  3. Why: the Syndicate must be able to enter into a contract for sale to syndication subscribers.  This means a specific tenants-in-common contract must be drafted by a local real estate attorney retained and paid by the Developer/Sponsor.

  4. Where: maintained in electronic form in the offices of the Syndicate, the Developer/Sponsor and the Developer/Sponsor's legal counsel.

  5. How: drafted and created by the Developer/Sponsor's legal counsel based upon state and federal statutes.

  6. What's important: a legally binding agreement must be prepared under the auspices of the real estate contract laws of the state where the proposed Project Site is located.  This document must be reviewed and/or drafted by legal counsel of the Developer/Sponsor.

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