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Lot Purchase Agreement
"I need a Lot Purchase Agreement for buying an industrial lot in Singapore for $5.2 million, with completion scheduled for March 2025, including specific environmental warranties due to the lot's previous use as a chemical storage facility."
1. Parties: Identification and details of the buyer and seller
2. Background: Context of the transaction and brief property description
3. Definitions: Key terms used throughout the agreement
4. Property Description: Detailed description of the lot including boundaries and specifications
5. Purchase Price: Amount and payment terms
6. Completion: Timing and process for completion of the sale
7. Title and Transfer: Provisions regarding transfer of ownership
8. Representations and Warranties: Standard warranties about the property and authority to sell
1. Due Diligence: Buyer's right to conduct investigations - typically included for commercial properties or large transactions
2. Environmental Matters: Environmental conditions and obligations - included when property has potential environmental concerns
3. Planning Permissions: Current and future planning restrictions - included when development potential is material to the purchase
4. Tenant Rights: Existing tenancies and obligations - included when property is subject to existing tenancies
1. Property Plan: Detailed plan showing lot boundaries and measurements
2. Title Documents: Copies of relevant title documents
3. Planning Permissions: Copies of relevant planning permissions and restrictions
4. Property Certificates: Relevant property certificates and searches
5. Inventory: List of included fixtures and fittings - included when sale includes specific items beyond the land
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