PURCHASE TERMS OF USE High Creek Land | HCL Holdings LLC

WARNING: THIS CONTRACT HAS SUBSTANTIAL LEGAL CONSEQUENCES AND THE PARTIES ARE ADVISED TO CONSULT LEGAL AND TAX COUNSEL.

PARTIES

Seller: HCL Holdings, LLC, a Utah Limited Liability Company Mailing Address: P.O. Box 438, Richmond, UT 84333 Phone: (435) 932-0034 Email: sid@highcreekland.com Contact Person: Sidney Christensen, Manager

AGREEMENT TO SALE AND PURCHASE

Seller agrees to sell, and Buyer agrees to buy the property as described and identified in the purchase agreement, including all fixtures, landscaping, improvements, and appurtenances collectively referred to as the “Property.” All property sold is called the “Property.”

SALES PRICE

The parties agree to the purchase price, down payment, and balance due as specified in the purchase agreement. For owner-financed purchases, the Seller agrees to finance a portion of the purchase price pursuant to a promissory note, bearing the agreed interest per annum, payable over the agreed term with even monthly payments, plus a Note Servicing Fee and estimated taxes, secured by a Land Contract.

FINANCING OPTIONS

Two financing options are available:

Cash Sale — The contract is not contingent on financing. Full payment is due at closing.

Owner Financing — Seller finances a portion of the purchase price. Monthly payments include principal, interest, a Note Servicing Fee, and estimated property taxes. There are no prepayment penalties. The note can be paid off at any time, with only the interest accrued to the date of payoff assessed.

DOWN PAYMENT AND PROCESSING FEE

Buyer deposits the agreed down payment money with HCL Holdings, LLC. Additionally, the Buyer acknowledges a one-time processing fee due at signing. Receipt of the down payment money and document preparation fee will be acknowledged by the Seller.

PROPERTY CONDITION

Buyer represents that they have personally inspected and examined the Property and accepts it in its “as-is” and present condition. This property is covered by a 90-Day Satisfaction Guarantee as outlined in Section 14 below.

UTILITIES

The present condition of all utility access to the Property is accepted by Buyer. Seller is not aware of the existence of wetlands, shoreland, or flood plain on or affecting the Property. Seller knows of no hazardous substances or petroleum products having been placed, stored, or released from or on the Property by any person in violation of any law, nor of any underground storage tanks having been located on the Property at any time.

CLOSING

The closing of the sale will occur on or before the agreed closing date unless extended pursuant to the terms of the agreement. Closing may be extended to within 7 days after objections to matters disclosed in the title abstract, certificate, or commitment, or by the survey, have been cured. The closing date may also be extended by written agreement of the parties. There is no cost to the Buyer by closing directly.

TITLE AND CONVEYANCE

Seller shall convey title to Buyer by Warranty Deed. Seller shall, prior to or at closing, satisfy all outstanding mortgages, deeds of trust, and special liens affecting the Property which are not specifically assumed by Buyer. Title shall be good and marketable, subject only to:

(a) Covenants, conditions, and restrictions of record (b) Public and private utility easements, roads, and rights-of-way (c) Applicable zoning ordinances, protective covenants, and prior mineral reservations (d) Special and other assessments on the property, if any (e) General taxes for the current year and subsequent years

A title report shall not be provided to Buyer at closing. Buyer may elect to conduct their own title search at their own expense. If title defects exist, Seller shall notify Buyer within 5 days of closing. Buyer may then: (a) cancel the contract and receive a full refund of earnest money or down payment, (b) accept title as-is, or (c) permit Seller a reasonable time to perform curative work at Seller’s expense.

Seller holds the Title Warranty Deed to the Property until the Property is completely paid. Seller warrants that the Property Title will remain free from any loans, liens, or encumbrances throughout the period of payment. Upon final payment, Seller will record the title Warranty Deed to the applicable county within 30 days of payoff.

APPRAISAL AND SURVEY

Any appraisal of the Property shall be the responsibility of Buyer. A survey is not required.

POSSESSION

Prior to closing, the Property shall remain in the possession of Seller.

CLOSING COSTS AND EXPENSES

The following closing costs apply if closed through a title company. There is no cost to the Buyer by closing directly.

Attorney Fees / Title Company Fees — Buyer Title Insurance — Buyer Title Abstract or Certificate — Buyer Recording Fees — Seller Appraisal — Buyer Survey — Buyer Transfer Taxes — Seller All Other Closing Costs — Buyer

PRORATIONS

Taxes for the current year, interest, maintenance fees, assessments, dues, and rents, if any, will be prorated through the Closing Date. If taxes for the current year vary from the amount prorated at closing, the parties shall adjust the prorations when tax statements for the current year are available.

PAYMENTS (Owner Financing)

Payments are due 30 days from the contract date. An invoice will be emailed to the Buyer, which will include a payment link for credit card payments. Payments may also be made by check.

A grace period of 5 days from the due date is allowed for monthly payments. If payment is not received within the grace period, a late penalty will be assessed.

If a payment is 5 or more calendar days late, a late charge will be applied in addition to all other sums owed.

If the Buyer is in default of the monthly payment by 35 days, the Seller will notify the Buyer by email. The Buyer will then have 30 days to bring payments current. If full payment is not received within that period, the property will be considered foreclosed and the Buyer will forfeit all interest and payments made.

If the Buyer sells the Property, the remaining balance due must still be paid to the Seller.

The Buyer is responsible for reimbursing the Seller for annual property taxes. Seller will pay the taxes each year and Buyer will reimburse the Seller. Failure to reimburse within 60 days of the date due will void the contract, and the remaining amount owed will become due within 30 days. Buyers may opt for monthly tax billing — contact HCL Holdings LLC to arrange this preference.

Buyer must maintain a valid email address on file with the Seller at all times.

OUR GUARANTEE

HCL Holdings LLC will allow an inspection period of 90 days from the date of down payment. If, for whatever reason, the Buyer is unsatisfied with the Property, HCL Holdings LLC agrees to either exchange the Property or refund all monies, minus closing costs, payment fees, and accounting setup fees.

DEFAULT

If Buyer fails to comply with this contract, Buyer will be in default, and Seller may either: (a) enforce specific performance and seek such other relief as may be provided by law, or (b) terminate the contract and retain the earnest money as liquidated damages.

If Seller fails to deliver evidence of clean title or make required non-casualty repairs within the time allowed due to factors beyond Seller’s control, Buyer may either: (a) extend the time for performance up to 15 days, or (b) terminate the contract and receive a full refund of earnest money.

If Seller fails to comply for any other reason, Buyer may either: (a) enforce specific performance, or (b) terminate the contract and receive the earnest money back.

Upon default, including failure to pay upon final maturity, the Lender may increase the interest rate on the Promissory Note by five (5) percentage points. This Default Rate shall supersede the original rate, even if the default is subsequently cured.

REPRESENTATIONS

Seller represents that as of the Closing Date: (a) there will be no liens, assessments, or security interests against the Property which will not be satisfied out of the sales proceeds, and (b) assumed loans will not be in default. Seller also warrants that the Property is free of all liens and that taxes are current. If any representation in this contract is untrue on the Closing Date, the contract may be terminated by Buyer and all earnest money will be refunded. All representations contained in this contract will survive closing.

ATTORNEY’S FEES

The prevailing party in any legal proceeding brought under or with respect to the transaction described in this contract is entitled to recover from the non-prevailing party all costs of such proceeding and reasonable attorney’s fees.

FEDERAL TAX REQUIREMENT

If Seller is a “foreign person” as defined by applicable law, or if Seller fails to deliver an affidavit confirming otherwise, then Buyer shall withhold from the sales proceeds an amount sufficient to comply with applicable tax law and deliver the same to the Internal Revenue Service together with appropriate tax forms. IRS regulations require filing written reports if cash in excess of specified amounts is received in the transaction.

NOTICES

All notices from one party to the other must be in writing and are effective when mailed, hand-delivered, or transmitted by facsimile.

To Seller: HCL Holdings LLC, P.O. Box 438, Richmond, UT 84333 | Phone: (435) 932-0034 | Email: sid@highcreekland.com

ASSIGNMENT

This agreement may not be assigned by Buyer without the prior written consent of Seller. This agreement may be assigned by Seller and shall be binding on the heirs and assigns of the parties hereto.

TIMBER RESTRICTION

Seller holds the right to limit the amount of timber removed from the Property to include only that area needed to place a dwelling or structure, until the total price of the Property, including interest, is paid in full.

ENVIRONMENTAL RESPONSIBILITY

Buyer shall not dump or place environmentally hazardous waste or substances on the Property at any time.

NO BROKER OR AGENTS

Neither party has employed the services of a real estate broker or agent in connection with this Property. If any such agent has been employed, the party employing said agent shall pay any and all related expenses outside the closing of this agreement.

EMINENT DOMAIN

If the Property is condemned by eminent domain after the effective date of this agreement, Seller and Buyer shall agree to either continue the closing or cancel the contract. If the parties cannot agree, the contract shall remain valid with Buyer being entitled to cancel and have the down payment money returned.

PRIOR AGREEMENTS

This contract incorporates all prior agreements between the parties, contains the entire and final agreement, and cannot be changed except by their written consent. Neither party has relied upon any statement or representation made by the other party or any sales representative. Neither party shall be bound by any terms, conditions, oral statements, warranties, or representations not contained herein.

GOVERNING LAW

This contract shall be governed by the laws of the State of Utah.

TIME IS OF THE ESSENCE IN THE PERFORMANCE OF THIS AGREEMENT.

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