REAL ESTATE PURCHASE AGREEMENT

	GPS Properties P.O. Box 1945 Cumming, GA 30028 706-344-2619	GPS Property # __________________

REAL ESTATE PURCHASE AGREEMENT (AND RECEIPT FOR DEPOSIT)

Date ___________________, at ____________________________________________(Costa Rica)

Deposit to be submitted by ___________________________________________________(“Buyer”).

Passport / Cedula# _________________________________ Deposit in the form of (see Paragraph #1A)

A Deposit of _________________________________ US Dollars $ ____________________ toward the

Purchase Price of _____________________________ US Dollars $ ________________________.

For Purchase of Property Located in ____________________________ Province of __________________ Costa Rica

Described As ____________________________________________________________________ (“Property”)

___ Personal Property Included in Purchase Agreement – (Personal Property Addendum A Attached)
___ Attached Property Description Addendum – (for further description)
___ Property is not Vacant Land
___ Property is Deeded _____ Property is in a Concession
___ Other _________________________________________________________________________

I. PAYMENT TERMS OF PURCHASE: All amounts shall be in U.S. Dollars.
A. BUYER’S DEPOSIT: shall be held by ____________________________ $ ________________
Buyer’s deposit shall be by ___ Personal Check, ___ Cashier’s Check, ___ Cash, or ___ Wire Transfer ___ to escrow holder’s account. If not received or wire transfer confirmed by seller, by date: ___________ this purchase agreement may be canceled at seller’s option. If deposit is any type of check, indicate Bank __________________
__________________________________ and Country of Origin ______________________________________.
B. ANY ADDITIONAL DEPOSIT: shall be held by __________________________________$______________
Due within ___________ Days After Acceptance, or _____________________________________________.
C. BALANCE OF PURCHASE PRICE: (not including costs of obtaining loans $_____________
And other closing costs) to be deposited with escrow holder __________________________________, within sufficient time to close escrow/transaction.
D. TOTAL PURCHASE PRICE: __________________________________ $ _____________________
II. TRANSACTION CLOSING: shall occur ______ Days After Acceptance, or on __________________ (date).
Buyer and Seller shall execute a formal sales contract drawn by a licensed Costa Rica Attorney/Notary, which shall incorporate the terms and conditions agreed to herein. This contract shall be executed before the closing date. Buyer and Seller to agree on choice of attorney and shall share the cost of fees unless Buyer and Seller retain separate attorneys, then each party shall be responsible for their own respective fees. Seller shall deliver possession and occupancy of the Property to buyer at ___________ AM/PM on ___________ the date of Close of the Transaction/Escrow _______ or __________________ (date). Property shall be vacant, unless otherwise agreed in writing.
III. CLOSING COSTS: Buyer and Seller shall share the cost (50% each) of escrow services, clerical services and related government fees EXCEPT Buyer shall pay 100% of the transfer taxes that are established by Costa Rican Law.
A. PRORATIONS AND PROPERTY TAXES: Unless otherwise agreed in writing, property taxes (for deeded and concession property), trash fees, and assessments or government fees imposed prior to the transaction/escrow, shall be paid current and prorated between Buyer and Seller as of the close of the transaction/escrow. All utility bills to be current, water, electric, telephone, cable and/or direct television (if applicable). Any assessments that are now a lien but not yet due, shall be assumed by Buyer without credit toward the purchase price.
IV. DISCLOSURES: Seller shall disclose to Buyer within _____ days After Acceptance, any known material conditions or information about the property and knowledge of any subsequent disclosures of conditions prior to the close of escrow as follows:
_________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________
________ / _______ Buyer’s Initials _______ / _______ Seller’s Initials

V. CONDITION OF PROPERTY: Property shall be maintained in substantially the same condition as on the date of acceptance. Buyer has the right and is advised to inspect the Property prior to close of escrow to ensure that it has
been so maintained. All debris and personal property not included in the sale shall be removed unless otherwise
agreed upon in writing.

VI. TITLE: Title to be transferred by Deed or as prescribed by Costa Rica Law. Title shall be free of liens and/or encumbrances, except as provided in this Agreement.
Buyer has the option to purchase a Title Guarantee which is available through Stewart Title Co. of Costa Rica.
____ Buyer elects NOT to purchase title insurance.
____ Buyer elects to purchase title insurance.
Buyer shall, within the time specified in paragraph VII A, provide written notice to Seller of any items reasonably disapproved of from: 1) the title report, 2) seller’s disclosures or 3) any written (authentic or verifiable) documentation that adversely affects the title of the property.

VII. CONTINGENCIES IN THIS AGREEMENT: The closing of this transaction is contingent upon the contingencies
already identified in this agreement.
A. Buyer has within _______ Days After Acceptance to complete, all inspections, investigations and
review of reports submitted to or acquired by Buyer. Within this time, Buyer must either, disapprove
in writing, any items which are unacceptable to Buyer, or remove any contingency or disapproval right
associated with that item, as specified in paragraph VIII.

VIII. METHOD OF CONTINGENCY REMOVAL: Contingencies and disapproval rights must be removed or
Exercised in writing by the party who has the contingency or disapproval rights. If Buyer does not give to
Seller written notice of items reasonably disapproved, removal of contingencies, or cancellation (based on
any cancellation right of Buyer), within the strict time periods specified, then Seller shall have the right to
cancel this Agreement by giving written notice to Buyer.

A. EFFECT OF CONTINGENCY REMOVAL: If Buyer removes or waives any contingency Buyer shall conclusively be deemed to have: (1) Completed all inspections, investigations, review of applicable documents and disclosures pertaining to that contingency, (2) Elected to proceed with the transaction.

B. SELLER’S RESPONSE TO BUYER’S DISAPPROVAL: Seller shall have ______ days from receipt
of Buyer’s written notice of items reasonably disapproved to respond in writing. If Seller refuses to
repair or correct any items reasonably disapproved by Buyer, or does not respond with the strict time
period specified, Buyer shall have ______ days after receipt of Seller’s response, or after expiration
of the time for Seller to respond, whichever occurs first, to cancel this Agreement in writing.

C. CANCELLATION OF SALE/ESCROW AND RETURN OF DEPOSITS: If Buyer or Seller gives
written NOTICE OF CANCELLATION pursuant to rights duly exercised under the terms of this
Agreement, Buyer and Seller agree to sign mutual instructions to cancel the sale and escrow and
release deposits, less fees and costs to party entitled to the funds. Fees and costs may be payable to
service providers and vendors for services and products provided during escrow. Release of funds will
require mutual, signed release instructions from both Buyer and Seller, judicial decision, or
arbitration award.

IX. LIQUIDATED DAMAGES: Buyer and Seller agree that if Buyer fails to complete this purchase by reason
of any default of Buyer
A. Seller shall be released from the obligation to sell the Property to the Buyer.
B. Seller shall retain, as liquidated damages for breach of contract, the total deposit(s) actually paid.
C. In the event of a dispute, funds deposited in a trust account or escrow account are not released
automatically and require mutual, signed release instructions from both Buyer and Seller, judicial
decision, or arbitration award.

Page 2 of 3 ________ / _______ Buyer’s Initials _______ / _______ Seller’s Initials

XI. DISPUTE RESOLUTION – ARBITRATION OF DISPUTES:
___ Yes ___ No If yes, Dispute Resolution Addendum C Attached.
XII. ATTORNEY’S FEES: In any action, proceeding or arbitration between Buyer and Seller arising out of this
Agreement, the prevailing Buyer or Seller shall be entitled to reasonable attorney fees and costs from the non-prevailing Buyer or Seller, except as provided in Dispute Resolution Addendum.
XIII. ENTIRE CONTRACT: Time is of the essence. All prior agreements between the parties are incorporated in this Agreement which constitutes the entire contract. The formal contract written by a Costa Rica Attorney shall incorporate all terms of this agreement or shall make reference to the inclusion of this agreement. Any additional terms written by the Attorney may apply if, required by law, further describe or define already existing terms in the Purchase Agreement (without changing the substantive meaning), or agreed upon by Seller and Buyer. The terms of this purchase agreement are intended by the parties as final expression of their agreement with respect to such terms as are included herein and may not be contradicted by evidence of any prior agreement or contemporaneous oral agreement. The parties further intend that this Agreement constitutes the complete and exclusive statement of its terms and that no extrinsic evidence whatsoever may be introduced in any judicial or arbitration proceeding, if any, involving this Agreement.

This Agreement may not be extended, amended, modified, altered, or changed in any respect whatsoever except in writing signed by Buyer and Seller.

XIV. SEVERABILITY: If any term, provision, covenant, or condition of this Agreement is held by a Costa Rica Court of competent jurisdiction to be invalid, void, or unenforceable, the rest of the agreement shall in full force and effect and shall in no way be effected, impaired, or invalidated.
XV. OFFER: This is an offer to purchase the Property. Unless acceptance is signed by Seller, and a signed copy delivered in person, by mail, or facsimile, and personally received by Buyer or by __________________________ of _________________________________ who is authorized to receive it, by ___________________ (date), at
_________ AM/PM, the offer shall be deemed revoked and the deposit shall be returned. This agreement and any supplement, addendum, or modification, including any photocopy or facsimile, may be signed in two or more counterparts, all of which shall constitute one and the same writing.

BUYER ______________________________________ BUYER _____________________________________

XVI. BROKER CONSULTATION/COMPENSATION FEE: Seller agrees to pay Real Estate
Consultant/Compensation fee for services as follows: ___________ % of the sales price to
_________________________________________.
By signing this agreement, Seller irrevocably authorizes the Escrow holder or Seller’s attorney, to release this fee
from the Seller’s proceeds at the close of the transaction, to the Real Estate Broker/Consultant.
XVII. ACCEPTANCE OFFER: Seller warrants that Seller is the owner of this Property, or has the authority to
execute this Agreement. Seller accepts the above offer, agrees to sell the Property on the above terms and
conditions. Seller has read and acknowledges receipt of a copy of this Agreement, and authorizes Broker to
deliver a signed copy to Buyer.

Corporation Name: _________________________________________ / Cedula # ________________________

Agent Name _____________________________________ Signature __________________________________

Office Phone ______________________________________ Fax _____________________________________

This addendum is included in the _________________________________________________________

By and Between: ( ) Seller(s) _____________________________ / ____________________________
(check where applicable)
( ) Buyer(s) _____________________________ / ____________________________

I. PERSONAL PROPERTY: The following items of personal property are included in the sale of subject
Property

____________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________

All persons signing below acknowledge receipt of copy of this page,
which constitutes Page 1 of _______ Pages(s).

Seller ____________________________Date___________ Seller _____________________________Date___________

Buyer____________________________ Date___________ Buyer _____________________________Date__________

This addendum is included in the ______________________________________________________________
El siguiente anexo est incluido en ______________________________________________________________

By and between: ______________________________________________________________________
Realizado por y entre las siguientes partes:__________________________________________________

( ) Seller (s) _____________________________________ / __________________________________________
( ) Vendedor (es) _________________________________ / ___________________________________________

( ) Real Estate agent (s) ___________________________ / ___________________________________________
( ) Agente (s) Bienes Raices _______________________ / ____________________________________________

( ) Buyer (s) ____________________________________ / ____________________________________________
( ) Comprador__________________________________ / _____________________________________________

Subject Property:
_______________________________________________________________________________________________
_______________________________________________________________________________________________

Propiedad en Cuestion:
_______________________________________________________________________________________________
_______________________________________________________________________________________________

1. DISPUTE RESOLUTION- ARBITRATION OF DISPUTES: Seller(s), Buyer(s), and real estate agent(s) agree to arbitrate any dispute or claim arising between them out of this Agreement, or any resulting transaction, BEFORE resorting to court action or attorney procurement. The decision for arbitrators is binding and there is no appeal process Seller(s), Buyer(s), and real estate agent(s) agree to use the services of The Commerce Chamber Alternative Dispute Resolution Center located in Costa Rica. Arbitration fees, if any, shall be divided equally among the parties involved. If any party commences an action based on a dispute or claim to which this paragraph applies without resolving the matter through arbitration, then the party shall not be entitled to recover attorney’s fees, even if they would otherwise be available to that part in any such action. The arbitrators shall render an award in accordance with substantive Costa Rica Law.

I. RESOLUCION DE CONFLICTOS – ARBIRRAJE DE CONFLICTOS: El Vendedor(es), Comprador(es),
y Agente(s) de Bienes Raíces acuerdan mediar en cualquier disputa o demanda que surja entre ellos a raíz de
este Acuerdo o cualquier transacción resultante, ANTES de recurrir a los tribunales o a la intervención de un
abogado. La decisión de los árbitros es determinante y no hay cabida para un proceso de apelación. El Vendedor(es),
Comprador(es), y Agente(s) de Bienes Raíces acuerdan utilizar los servicios del Centro Alternativo para Resolución
de Conflictos de la Cámara de Comercio, ubicada en Costa Rica De existir, los honorarios de Arbitraje deberán
dividirse equitativamente entre los contratantes. Si alguna de las partes entabla una acción basada en una disputa
o demanda a la cual se refiere este párrafo sin resolver el asunto mediante arbitraje, entonces la parte no tendrá
derecho a cobrar honorarios de abogado, aunque hubiesen estado disponibles para esa parte de otra manera en otra acción cualquiera. Los árbitros deberán rendir un fallo de acuerdo con la ley costarricense.

Your agreement to this arbitration provision is voluntary.
Su conformidad con esta estipulación de arbitraje es voluntaria.

“We have read and understand the foregoing and agree to submit disputes arising out of the matters included
in the above ‘Arbitration of Disputes’ provision to neutral arbitration.”

“Hemos leído y comprendido lo anterior y acordamos reportar aquellos conflictos que surjan fuera de lo mencionado
en la anterior disposición para arbitraje neutral denominada ‘Arbitraje de Conflictos’.

Seller(s) _______________________________ / _________________________________ Date___________________

Firma(s) del (los) Vendedor(es)___________________________/_______________________Fecha_______________

Buyer(s) Signature(s)____________________________/____________________________Date___________________

Firma(s) del (los) Comprador(es)________________________/_________________________Fecha________________

Real Estate Agent(s) Signature ____________________________________________________Date________________

Firma(s) del (los) Agente(s) de Bienes Raíces ______________________________________ Fecha ______________