First: Both parties agree that the total price for this transaction is the
amount of $41,000 (forty one thousand dollars and 00/100 U.S.C.Y.) and will
be paid as follows:
1. The amount of $1,000 DLLS, (One thousand dollars and 00/100
U.S.C.Y.) will be paid once both parties have signed this contract.
2. The amount of $4,000 DLLS. (Four thousand dollars and 00/100
U.S.C.Y.) will be paid 15 working days from this date.
3. The balance of $36,000 DLLS (Thirty six thousand dollars and 00/100
U.S.C.Y.) will be paid on the closing date of August 16, 1999.
Second: Both parties agree that the property will be transferred free of all
liens, burdens, and encumbrances, and current in all municipal, federal, state
taxes, as well as in maintenance fees. Any dues or fees, which are paid on a year-
ly basis, will be prorated on the day of closing.
Third: The seller will be responsible to pay the capital gains tax, if any, and
real estate commissions.
Fourth: The buyers will be responsible to pay all closing costs.
Fifth: Property will be deeded to Mr. Christopher Columbus and Felipa
Perestrello or to whomever they designate.
Sixth: This transaction is to include five fans, three air conditioners, stove, cur-
tains, light fixtures, hot water heater, water tank, pump, telephone line, and gas
tank. All other furnishings, decorations, and personal items are not included.
Seventh: Both parties agree that the earnest money paid is non-refundable
unless the seller is unable to transfer the property to the buyers.
Be sure the contract is in Spanish, and all parties sign and date each page of
the documents. NOTE: Be sure the contract is printed.
M a z a t l a n I S P a r a d i s e