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Deposit Agreement

Hunt Club Meadows LLC Deposit Receipt and Agreement

 

Click Here to Create a Printable Copy of this Agreement                                     

 

Developer: Hunt Club Meadows LLC

c/o Robert Huguelet Jr.                       Phone No. 708-226-9500 
Attorney at Law    
                                   Fax 708-364-7127 
10749 Winterset Drive
orland Pak, Illinois 60467

Depositor:

Name:_________________________________________________________________________

Address: ______________________________________________________________________

______________________________________________________________________________

Telephone: ____________________________________________________________________

Date: ______________________    Lot No.: _______________     Lot Price: ______________

The Depositor shall make the Deposits and the Developer shall accept the Deposits with the following understanding and under the following terms:

1. Attached hereto is a subdivision plan for the proposed Hunt Club Meadows Subdivision in Homer Glen, Illinois. (the "Subdivision") The Subdivision will be subject to a Declaration of Covenants, Easements and Restrictions (the "Declaration") which will establish a homeowner's association, annual assessments, and architectural controls.

 2. The Depositor hereby makes deposit as follows:

Initial Deposit upon execution and delivery of this agreement to Developer.

 ($1,000.00 per lot)         $ ___________________________________

(At such time as the Developer and Depositor enter into a purchase and sale contract, earnest money totaling 10% of the Lot Price shall be deposited under that contract. The Deposits made under this agreement shall be applied toward the earnest money.)

The Deposit shall be held by the Developer and shall not bear interest in favor of Depositor.

3. The Developer shall promptly refund the Deposits in full to the Depositor if, for any reason, the Depositor delivers a written request for a refund to the Developer. Likewise, the Deposits may be returned by Developer to the Depositor at any time and for any reason. Upon return of the Deposits, this agreement shall be deemed canceled, except the provisions of paragraph 4, 5 and 6 shall remain if force.

4. The Depositor shall not record this agreement or any other instrument against the Subdivision or any portion thereof.

5. In the event that the Depositor breaches this agreement, the Depositor shall be liable the Developer for any damages incurred by the Developer as a result of said breach, together with the Developer's reasonable attorney's fees and costs incurred to enforce or defend the terms of this agreement.

6. This Agreement shall not: (a) grant the Depositor any right, legal or equitable, to the Lot, or (b) require either the Developer or the Depositor to enter into a binding contract for the purchase and sale of the Lot, or (c) entitle the Depositor to any remedy against the

Developer except the return of the Deposits, as provided herein.

Hunt Club Meadows LLC                                     Depositor:

By:                                                                                ___________________________

 

________________________________            ___________________________
Its duly authorized agent 


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Last modified: Thursday October 02, 2008