Fair View Meadows 2nd Addition

Zoned: R3 – Residential Subdivision

Alton Economic Development Corporation 905 Third Avenue Alton, IA 51003 712-756-4314

Terms:

• $1,000 earnest money.
• Closing must be within 90 days of purchase agreement.
• Construction must be completed within 18 months of purchase agreement and after Alton’s Building Code Enforcement official does final inspection and signs off.
• Restrictive covenants applicable.
• Seller has First Right of Refusal.
• Purchase agreement subject to seller’s right to buy back property for the original purchase cost less expenses incurred to reacquire the property, in the event buyer does not begin construction of a home on the property within 18 months of closing, unless minimum assessment was signed at time of purchase.
• Parties will enter into a written agreement memorializing the terms of this provision, which will be recorded with the Sioux County Recorder. This provision will be binding on subsequent purchasers of the property.