LandJoy

landjoy.com

PURCHASE TERMS OF USE

1. Parties to This Agreement

Seller: LandJoy, LLC, a Michigan Limited Liability Company. Mailing address: 1971 E. Beltline Ave. NE Suite 106 #628, Grand Rapids, MI 49525. Phone: (616) 326-1616. Email: Sales@landjoy.com.

Buyer: The individual or entity identified at the time of signing (herein “Buyer”).

2. Property

Seller agrees to sell, and Buyer agrees to buy, the vacant land property described as follows:

Parcel ID: _______________________________

Legal Description: _______________________________

All property covered by this agreement is referred to as the “Property.”

3. Sale Price and Payment

Purchase Price: As stated in the applicable agreement at signing.

Down Payment: As stated in the applicable agreement at signing.

One-Time Processing Fee: Due at or before signing.

3A. Cash Sale

For cash purchases, this transaction is not contingent on financing. Full payment is due as agreed. Seller retains legal title until the purchase price is received in full and all funds have fully settled in Seller’s account without reversal, chargeback, or dispute. Legal title transfers only after Seller confirms final settlement and the appropriate deed is delivered and recorded.

3B. Seller-Financed (Terms) Sale

For financed purchases, Seller agrees to provide owner financing pursuant to a Promissory Note executed by Buyer in favor of Seller. The Note bears interest at the agreed rate per annum and is payable over the agreed term in equal monthly installments. Monthly payments include a Note Servicing Fee and estimated property taxes. The Promissory Note is secured by a Land Sale Contract.

Payment begins: Approximately thirty (30) days from the effective date and continues monthly until principal is paid in full.

Payment methods: ACH or credit card through the Seller’s payment portal. Automated monthly payments are strongly recommended.

Payment application order: Fees and estimated property taxes first, then accrued unpaid interest, then principal.

4. Property Taxes

Seller shall pay all real property taxes when due. Buyer shall reimburse Seller for all taxes attributable to the period from the purchase date forward, including any administrative, processing, escrow, monitoring, or tax-service fees incurred by Seller. Amounts billed as Estimated Property Taxes may include actual or estimated taxes plus the foregoing fees, and may exceed the taxes ultimately charged by the taxing authority. These fees are not interest.

Property tax amounts may increase due to changes in tax rates, assessments, valuations, or other governmental charges. Failure to reimburse Seller within sixty (60) days after the applicable due date or billing constitutes an event of default.

5. Property Condition

AS-IS SALE. Buyer represents and warrants that Buyer has personally inspected and examined the Property and any related public records, and accepts the Property in its present “as-is” condition, including the availability of utilities, flood zone status, wetlands, and other environmental and physical conditions, whether apparent or not.

Seller makes no representations or warranties regarding the condition of the Property, including utilities, floodplain or wetlands status, except to the extent Seller has expressly disclosed such information in writing. Any such disclosure is based solely on Seller’s actual knowledge and publicly available information, without investigation or warranty as to accuracy or completeness.

Buyer acknowledges that environmental conditions and flood zone designations may change over time and agrees that Buyer is solely responsible for conducting Buyer’s own due diligence regarding the Property.

6. 90-Day Satisfaction Guarantee

Inspection Period. Seller provides Buyer with an inspection period of ninety (90) days from the date Buyer’s down payment is received (the “Inspection Period”).

If, for any reason, Buyer is dissatisfied with the Property during the Inspection Period, Buyer may request, at Seller’s option, either: (a) an exchange of the Property, or (b) a refund of all amounts paid by Buyer toward principal, less any non-refundable fees, including the document processing fee, closing costs, finance service fees, payment fees, and accounting setup fees.

Any approved refund shall be issued within thirty (30) days after Seller provides written notice of cancellation, Buyer executes such notice, and Buyer completes any documents reasonably required to rescind the transaction.

7. Title and Possession

7A. Cash Sale

Buyer is entitled to possession of the Property at Closing, subject to the terms of this Agreement. Legal title transfers upon Seller’s confirmation of final settlement and delivery and recording of the appropriate deed.

7B. Seller-Financed Sale

Seller retains legal title during the entire financing period until Buyer has paid in full all amounts due under the Promissory Note and Land Sale Contract, including principal, interest, fees, and all other charges. Buyer has the right of possession and use of the Property during the term of the Land Contract, subject to the restrictions set forth in these terms and the Land Sale Contract.

Upon Buyer’s full satisfaction of all payment obligations, Seller shall convey legal title by the appropriate deed. Seller represents that, throughout the financing period, Seller holds record title to the Property and shall not create or permit any mortgages, deeds of trust, or other voluntary liens against the Property that would impair Seller’s ability to convey title.

Buyer may not construct, place, or erect any dwelling, structure, or improvement on the Property until the Property is paid in full and Seller has conveyed legal title to Buyer. Seller reserves the right to restrict removal of timber from the Property to areas approved for future placement of a dwelling or structure, until full payment is made.

Title conveyed to Buyer shall be good and transferable, subject only to: (a) covenants, conditions, and restrictions of record; (b) public or private utility easements, roads, and rights-of-way; (c) applicable zoning ordinances, protective covenants, and prior mineral reservations; (d) special assessments, if any; and (e) general real property taxes for the year of conveyance and thereafter.

No title insurance provided. No owner’s title insurance policy, title commitment, abstract, or title report is being provided by Seller. Buyer may obtain, at Buyer’s sole expense, any title search or report Buyer deems appropriate during the term of this Agreement.

8. Title Recording and Credit Card Payment Hold

Recording Timeline. For purchases made with immediately available and finally settled funds, Seller shall record title by the appropriate deed within thirty (30) days after payoff. Seller has no obligation to record title while any payment remains subject to reversal, settlement delay, or dispute.

Credit Card Holding Period. Any payment made by credit card is subject to a mandatory sixty (60) day holding period (the “Holding Period”) to allow for potential chargebacks, reversals, or disputes. Credit card payments are reversible and, during the Holding Period, do not constitute payment in full, satisfaction of this Agreement, or entitlement to conveyance or recordation of title.

The Holding Period commences on the date of Buyer’s most recent credit card payment. Each additional credit card payment restarts the Holding Period as of its payment date.

If any credit card payment is reversed, charged back, or disputed, the affected amount is deemed unpaid as of its original due date and is subject to all applicable payment, late-fee, notice, cure, and default provisions. If a chargeback or reversal occurs after a payoff statement has been issued, Seller may suspend recordation, treat the affected amount as unpaid, and exercise any remedies available under this Agreement.

9. Payments, Prepayment, and Late Fees

Prepayment: Buyer may prepay this agreement, in whole or in part, at any time. There is no prepayment penalty. Only interest actually accrued through the payoff date, calculated on a daily basis, will be assessed.

Grace Period: Seller allows a grace period of five (5) calendar days from the payment due date.

Late Fee: If a payment is five (5) or more calendar days late, a Late Fee will be charged in addition to the regularly scheduled payment and all other amounts owed.

Sale or Transfer: If Buyer sells or transfers Buyer’s interest in the Property, any remaining balance becomes immediately due and payable.

Non-Owner Occupied: Buyer represents and warrants that the Property is being acquired for investment, recreational, or non-owner-occupied purposes and not as a primary personal residence while being financed.

10. Closing

The closing of the sale shall occur on or before the date agreed at signing, unless extended by written agreement of the parties. Closing may be extended to within seven (7) days after objections to matters disclosed in the title abstract, certificate, or commitment, or by the survey, have been cured.

11. Closing Costs and Expenses

The following allocation applies only if the transaction is closed through a title company. If the parties close directly without a title company, Buyer shall not be required to pay closing costs. Any referenced closing or title services are optional and may be arranged at Buyer’s discretion.

Closing Cost	Buyer	Seller
Attorney Fees / Title Company Fees	X
Title Insurance	X
Title Abstract or Certificate	X
Recording Fees		X
Appraisal	X
Survey	X
Transfer Taxes		X
All Other Closing Costs	X

* Both = 50/50 between Buyer and Seller.

12. Appraisal, Survey, and Termite Inspection

Any appraisal of the Property is the sole responsibility of Buyer. A survey is not required.

13. Prorations

Taxes for the current year, interest, maintenance fees, assessments, dues, and rents, if any, will be prorated through the Closing Date. If taxes for the current year vary from the amount prorated at closing, the parties shall adjust the prorations when tax statements for the current year are available.

14. Default

14A. Buyer Default

If Buyer fails to comply with any provision of this Agreement, Buyer is in default. Seller may, at Seller’s option: (i) enforce specific performance and seek such other relief as may be available at law or in equity, or (ii) terminate this Agreement and retain the earnest money as liquidated damages, releasing both parties from further obligations.

Default Rate of Interest. Upon default, including failure to pay upon final maturity, Lender may, if permitted under applicable law, increase the interest rate by five (5) percentage points (“Default Rate”). The Default Rate supersedes the rate stated in the original payment schedule, even if the default is subsequently cured.

Cure Period. For non-payment defaults that are capable of being cured, and where Buyer has not received a written notice of breach of the same provision within the preceding twelve (12) months, no Event of Default is deemed to have occurred if Buyer cures the default in full within thirty (30) days of written notice from Seller specifying the default and demanding cure.

If Buyer is in default of a required monthly payment and such default continues for thirty-five (35) days, Seller shall provide Buyer with written notice of default. Buyer then has thirty (30) days from receipt of such notice to cure the default by bringing current all amounts due. Failure to cure within the cure period may result in Seller pursuing available remedies to recover possession of the Property, and Buyer may forfeit Buyer’s equitable interest in the Property and any amounts previously paid, to the extent permitted by the Land Contract and applicable law.

14B. Seller Delay Beyond Control

If, due to factors beyond Seller’s reasonable control, Seller is unable within the time allowed to complete any non-casualty repairs or deliver evidence of transferable title, Buyer may, as Buyer’s sole remedy, either: (i) extend the time for Seller’s performance for up to fifteen (15) days, with the Closing Date extended accordingly, or (ii) terminate this Agreement and receive a refund of the earnest money.

14C. Seller Default

If Seller fails to comply with this Agreement, Seller is in default. Buyer may, at Buyer’s option: (i) enforce specific performance and seek such other relief as may be available at law or in equity, or (ii) terminate this Agreement and receive a refund of the earnest money, releasing both parties from further obligations.

14D. Seller’s Remedies

Seller’s remedies upon default shall be exercised only in the manner and to the extent permitted by applicable law. This transaction is a sale financed by Seller. The payments required herein are not rent, and this agreement does not create a landlord-tenant relationship.

15. Attorney’s Fees and Costs

In any action, proceeding, arbitration, or appeal arising out of or relating to this Agreement, the prevailing party is entitled to recover from the non-prevailing party all reasonable attorneys’ fees, court costs, and other costs of enforcement incurred, including fees and costs incurred before suit is filed, during any trial or appellate proceedings, and in connection with enforcing or collecting any judgment.

16. Representations

Seller represents that as of the Closing Date: (a) there will be no liens, assessments, or security interests against the Property which will not be satisfied out of the sales proceeds unless securing payment of any loans assumed by Buyer; and (b) assumed loans will not be in default. If any representation in this agreement is untrue on the Closing Date, this agreement may be terminated by Buyer and the earnest money will be refunded to Buyer. All representations contained in this agreement survive closing.

Seller further represents that, to Seller’s knowledge, the Property may be legally used as currently zoned and that no governmental authority has issued any written notice requiring repairs, alterations, or corrective action affecting the Property, except as expressly disclosed.

17. Federal Tax Requirements

If Seller is a “foreign person” as defined under applicable federal law, or fails to deliver an affidavit certifying that Seller is not a “foreign person,” Buyer shall withhold from the sales proceeds the amount required by applicable tax law and remit such amount to the Internal Revenue Service together with all required tax forms. Federal law may also require the filing of written reports if cash payments in excess of applicable statutory thresholds are received. Buyer is solely responsible for timely compliance with any withholding and reporting obligations.

18. Notices

All notices from one party to the other must be in writing and are effective when mailed to, hand-delivered at, or transmitted by email as follows:

To Buyer: At the address or email address provided by Buyer at signing.

To Seller: LandJoy, LLC, 1971 E. Beltline Ave. NE Suite 106 #628, Grand Rapids, Michigan 49525. Phone: (616) 326-1616. Email: Sales@landjoy.com.

19. Assignment

This agreement may not be assigned by Buyer without the written consent of Seller. This agreement may be assigned by Seller and shall be binding on the heirs and assigns of the parties hereto.

20. Entire Agreement

This agreement incorporates all prior agreements between the parties, contains the entire and final agreement of the parties, and cannot be changed except by their written consent. Neither party has relied upon any statement or representation made by the other party or any sales representative. Neither party shall be bound by any terms, conditions, oral statements, warranties, or representations not contained herein. Each party acknowledges that they have read and understand this agreement. The provisions of this agreement shall apply to and bind the heirs, executors, administrators, successors, and assigns of the respective parties.

21. No Broker or Agents

The parties represent that neither party has employed the services of a real estate broker or agent in connection with the Property, or that if such agents have been employed, the party employing said agent shall pay any and all expenses outside the closing of this agreement.

22. Eminent Domain

If the Property is condemned by eminent domain after the effective date hereof, Seller and Buyer shall agree to continue the closing, or a portion thereof, or cancel this Agreement. If the parties cannot agree, this agreement shall remain valid with Buyer being entitled to cancellation and the return of the down payment money.

23. Instrument Priority

In the event of any conflict or inconsistency between this Purchase Terms of Use, the Promissory Note, and the Land Sale Contract, the terms of the Land Sale Contract shall control with respect to title, possession, defaults, and remedies. The Promissory Note shall control with respect to payment obligations and interest.

24. Governing Law

This Agreement is governed by the laws of the State of Michigan. Any matters relating to title, conveyance, recording, foreclosure, remedies, possession, or enforcement affecting the Property shall be governed by the laws of the state in which the Property is located.

Jurisdiction and venue for any action arising out of or relating to payment obligations or the enforcement of monetary amounts under this Agreement shall lie exclusively in the state or federal courts located in the county and state in which Seller’s principal place of business is located as of the effective date. Any action or proceeding that directly affects title to, possession of, or foreclosure upon the Property shall be brought in a court of competent jurisdiction in the state where the Property is located, as required by applicable law.

25. Waiver

Buyer hereby waives presentment for payment, demand, notice, protest, notice of protest, diligence, and notice of non-payment, and further waives any defense based upon any extension of time for payment granted by Seller.

EXECUTED — EFFECTIVE DATE

By signing below, both parties confirm they have read, understand, and agree to these Purchase Terms of Use as a legally binding agreement.

Buyer Signature: ________________________________ Date: _______________

Buyer Printed Name: ________________________________

Buyer Address: ________________________________

Seller: LandJoy, LLC

Authorized Signature: ________________________________ Date: _______________

Title: Jonathan Highman, LandJoy, LLC

LandJoy, LLC · 1971 E. Beltline Ave. NE Suite 106 #628, Grand Rapids, MI 49525 · (616) 326-1616 · Sales@landjoy.com · landjoy.com