Offers to Purchase. Important Terminology

10 Offers to Purchase REEB 24.12, 24.13 Chapter Overview This chapter explores three Wisconsin offers to purchase and contract concepts related to ...
Author: Shana Tate
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Offers to Purchase REEB 24.12, 24.13

Chapter Overview

This chapter explores three Wisconsin offers to purchase and contract concepts related to an offer to purchase including submission of offers, drafting offers, and presentation of offers.

Important Terminology

PREPARING CONTRACTS

An offer to purchase may be the most important contract a licensee will prepare. An accepted offer to purchase dictates the terms of a transaction between a seller and a buyer. The offer is a contract that binds the seller and the buyer and obligates them to perform according to the terms of the offer. An offer to purchase is a contract between a seller and a buyer. A listing or a buyer agency agreement is a contract between a client and a broker. A broker is a not a party to an offer to purchase. When preparing an offer for a buyer, a licensee must be specific when including actions and obligations a buyer wants to make a part of the offer and be clear with deadlines for performance of contractual responsibilities. Offers must be clear and understandable to the parties and the resulting contract must be enforceable. An unenforceable contract is one that a court cannot enforce because the contract does not clearly state the parties’ obligations under the contract. If a contract contains an ambiguous term, a court will interpret the term more strictly against the drafter.

acceptance binding acceptance business days “bump” clause delivery equitable title guaranteed sale offer to purchase right of first refusal specific performance survey unenforceable contract

ACCEPTANCE AND BINDING ACCEPTANCE Acceptance occurs when all parties have signed one copy of an offer or separate but identical copies of an offer. Binding acceptance occurs when the accepting party delivers the offer back to the party who made the offer. Delivery must occur according to the terms of the offer. Unless otherwise stated in an offer, delivery is by personal delivery, prepaid U.S. Mail, prepaid commercial delivery service, fax, or by e-mail. Upon binding acceptance, an offer becomes a contract for the sale of the property and is a binding purchase agreement between the parties. Until binding acceptance occurs, the party who made the offer has the right to withdraw the offer.

EQUITABLE TITLE After a buyer and seller have an enforceable contract for sale, a buyer has equitable title to the property. A buyer with equitable title is a property’s legal owner even if the buyer does not yet have

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legal title to the property. A buyer with equitable title to a property could ask a court to order specific performance as a remedy if a seller breaches the enforceable contract for sale. When a court grants specific performance as a remedy, the court orders the parties to act according to the terms of the contract. In the case of a real estate transaction, that could mean that a court orders a seller to sell or a buyer to buy according to the terms of the binding contract for sale.

WORKING WITH OFFERS: CONFIDENTIALITY ISSUES The terms of an offer to purchase are confidential information. A licensee owes the duty of confidentiality to all parties to a transaction and must not disclose the terms of a prospective buyer’s offer to another prospective buyer or to any person with the intent that the information be disclosed to another prospective buyer. A licensee can disclose some terms of a buyer’s offer to purchase. A licensee can disclose that: • • • •

a a a a

seller has accepted another offer; buyer has submitted an offer on the property; seller has accepted an offer subject to contingencies; and seller has accepted an offer with a “bump” clause.

A licensee can disclose that an accepted offer is subject to contingencies but cannot disclose details about the contingencies. For example, a licensee could disclose that a seller accepted an offer subject to contingencies but could not disclose that the contingency is a financing or home inspection contingency. A licensee can disclose that the seller has accepted an offer with a “bump” clause. A bump clause is a contingency provision in an offer to purchase that requires the prospective buyer to remove certain contingencies in the buyer’s purchase agreement or relinquish the buyer’s primary status to a secondary offer. An example of a contingency that includes a bump clause is the “Closing of a Buyer’s Property Contingency” found in an offer to purchase. The “Closing of a Buyer’s Property Contingency” permits a seller to remove a buyer from primary position if a buyer cannot meet the terms of the contingency. If a licensee is providing brokerage services in a transaction and the licensee knows that the property is subject to a right of first refusal, a licensee must disclose that in writing and in a timely fashion to all people seeking to acquire an interest in the property. A licensee may deliver a copy of a party’s offer, exchange agreement, option contract, or lease proposal to the party holding the right of first refusal. A right of first refusal is a contractual right given by a property owner to another person that permits that person to purchase the property ahead of all other prospective buyers. A person holding a right of first refusal has the first right to purchase the property if the owner decides to sell it. A right of first refusal is a material adverse fact. After a licensee discloses a right of first refusal in writing to all prospective buyers, a licensee can deliver a copy of a buyer’s offer to the party holding the right of first refusal.

DRAFTING AND SUBMISSION OF OFFERS Licensees cannot refuse to draft or submit any offer to purchase unless to do so is contrary to the seller’s instruction. If a seller wants to limit a licensee’s ability to draft and submit offers, a seller should include these instructions in the listing contract. A seller might refuse to consider offers below a certain price or that contain certain terms. For example, a seller might include in a listing contract that the listing broker should not draft or submit any offers below 95% of the listing price or that contain a home inspection contingency.

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Offers to Purchase - 10

COOPERATING WITH OTHER BROKERS A listing broker must permit access to a listed property for showing purposes to all buyers and people assisting buyers, without unreasonable delay, unless to do so would be contrary to the seller’s written instructions. Brokers cannot refuse to permit other brokers access to a listed property unless the seller has provided written instructions to limit access. If a broker refused access to other brokers without instructions from the seller, the broker may be violating anti-trust laws.

PRESENTATION OF OFFERS A licensee must promptly present all offers to a seller or a seller’s agent for consideration. A licensee should not withhold any offer from a seller pending the seller’s action on a previously presented offer. For example, a listing broker is meeting with a seller at 7 p.m. and the listing broker received three offers over the course of the day. The listing broker presents all three offers to the seller at one time and does not prioritize the presentation of the offers according to the time the broker received the offers. The listing broker must also present the offers in an objective and unbiased manner, informing the seller of the advantages and disadvantages of each offer. A listing broker or the listing broker’s employees cannot submit a personal offer on a property listed with the broker if the broker or the broker’s employee has knowledge of the terms of any pending offer. This rule prevents a listing broker or a listing broker’s employee from having an unfair advantage over other potential buyers due to the licensee’s knowledge of the terms of pending offers that would permit a licensee to draft personal offers on better terms than any other pending offer. After a seller considers and acts on a buyer’s offer, a licensee must promptly inform the prospective buyer whether the seller has accepted, rejected, or countered the offer to purchase and must immediately provide a written statement documenting a seller’s decision if a buyer or a licensee working with a buyer requests evidence of a seller’s action.

GUARANTEED SALES A broker can offer a guaranteed sale to a client, which is an agreement between a broker and a seller that the broker will purchase the seller’s property at a predetermined price if the seller is unable to sell the property within a specified time. The rule that prohibits a listing broker or a listing broker’s employee from submitting a personal offer listed with the broker does not prohibit guaranteed sales.

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WB-11 RESIDENTIAL OFFER TO PURCHASE Approved by the Wisconsin Department of Regulation and Licensing 03-1-11 (Optional Use Date) 07-1-11 (Mandatory Use Date)

Page 1 of 9, WB-11

WB-11 RESIDENTIAL OFFER TO PURCHASE Approved by the Wisconsin Department of Regulation and Licensing Page 1 of 9, WB-11 1 LICENSEE DRAFTING THIS OFFER ON ________________________________________ [DATE] IS (AGENT OF BUYER) 03-1-11 (Optional Use Date) 07-1-11 (Mandatory Use Date) 2 (AGENT OF SELLER/LISTING BROKER) (AGENT OF BUYER AND SELLER) STRIKE THOSE NOT APPLICABLE

Lines 1-2 Disclosure of Agency WB-11 RESIDENTIAL OFFER TO PURCHASE

GENERAL PROVISIONS The Buyer, _____________________________________________________________________ _______________________________, offers to purchase the Property known as [Street Address] _____________________ LICENSEE DRAFTING THIS OFFER ON ________________________________________ [DATE] IS (AGENT OF BUYER) ______________________________________________________________ in STRIKE the _________________________________ (AGENT OF SELLER/LISTING BROKER) (AGENT OF BUYER AND SELLER) THOSE NOT APPLICABLE of __________________________________, County of _____________________________ Wisconsin (insert additional GENERAL PROVISIONS The Buyer, _____________________________________________________________________ description, if any, at lines 165-172 or 435-442 or attach as the an addendum per line onAddress] the following terms: _______________________________, offers to purchase Property as434), [Street _____________________ A licensee drafting an _________________________________________________________________________________ offer to purchase for a buyer mustknown disclose to the parties whether the licensee ■ PURCHASE PRICE: ______________________________________________________________ in the _________________________________ is acting as an agent of buyer, an agent of selling/listing broker, or an agent of buyer and______). seller. A ____________________________________________________________ Dollars ($___________________________ of __________________________________, County of _____________________________ Wisconsin (insert additional ■ EARNEST MONEY of $ ____________________accompanies this Offer and earnest money of $ ____________________ licensee strikes the agency descriptions that are not applicable. A licensee acting as a principal in a description, if any, at lines 165-172 or 435-442 or attach as an addendum per line 434), on the following terms: willPURCHASE be mailed, orPRICE: commercially or personally delivered within ____________________ days ofwriting acceptance listing or transaction would strike all three agency descriptions because a licensee an to offer asbroker a principal ■ _________________________________________________________________________________ ________________________________________________________________________________________________ ___. ___ ____________________________________________________________ Dollars ($___________________________ ____). __ is not acting as an agent for anyone. To select the correct agency description, a licensee must under■ THE BALANCE OF PURCHASE PRICE will be paid in cash or equivalent at closing unless otherwise provided below. ■ EARNEST MONEY of $ ____________________accompanies this Offer and earnest money of $ ____________________ stand the difference between buyers are customers andprice buyers that are clients.onIfthe a Property licensee is an ■ INCLUDED PURCHASE PRICE: Sellerthat is including in the purchase the Property, Fixtures will be mailed, IN or commercially or personally delivered within ____________________ days ofall acceptance to listing broker on or agent of a buyer, the buyer is the licensee’s client. In this case, the licensee may have a buyer agency the date of this Offer not excluded at lines 17-18, and the following additional items: __________________________________ ________________________________________________________________________________________________ ______. ___________________________________________________________________________________________________ agreement with the andPRICE the seller is either represented orunless the seller is provided represented by a dif■ THE BALANCE OFbuyer, PURCHASE will be paid in cashnot or equivalent at closing otherwise below.______. ■ NOT INCLUDED IN PURCHASE PRICE: ___________________________________________________________________ ferent broker. Alternatively, the buyer and seller could be clients of the same broker but have ■ INCLUDED IN PURCHASE PRICE: Seller is including in the purchase price the Property, all Fixtures on the Property chosen on _____. ____________________________________________________________________________________________________ the date of this Offer not excluded at lines 17-18, and the following additional items: multiple representation with designated agency so the broker has__________________________________ assigned each client a designated CAUTION: Identify Fixtures that are on the Property (see lines 185-193) to be excluded by Seller or which are rented ______. ___________________________________________________________________________________________________ agent towill represent clientbyinthe thelessor. transaction. If the licensee is an agent of the seller or listing broker, and continue tothat owned ■ NOT INCLUDED INbe PURCHASE PRICE: ___________________________________________________________________ then____________________________________________________________________________________________________ the buyer is a customer of the the licensee is either the listing agent or is a __ subagent NOTE: The terms of this Offer, notlicensee the listingand contract or marketing materials, determine what items are ___. included/excluded. of the listing Identify broker. If the licensee isProperty an agent of both thetobuyer and by theSeller seller, it means that both CAUTION: Fixtures that are on the (see lines 185-193) be excluded or which are rented Approved by the Wisconsin Department of Regulation and Licensing Page 1 of 9, WB-11 ACCEPTANCE Acceptance occurs when all Buyers and and Sellershave have signed one copytoof multiple the Offer, orrepresentation separate but identical the buyer and seller are the licensee’s clients consented without 03-1-11 (Optional Use Date) 07-1-11 (Mandatory Uselessor. Date) and will continue to be owned by the copies ofThe the Offer. NOTE: terms of this Offer, not the listing contract or marketing materials, determine what items are designated agency. WB-11 RESIDENTIAL OFFER TO PURCHASE CAUTION: Deadlines in the Offer are commonly calculated from acceptance. Consider whether short term deadlines included/excluded. running from acceptance provide adequate time for both binding LICENSEE DRAFTING THIS OFFER ON ________________________________________ [DATE] ACCEPTANCE Acceptance occurs when all Buyers and Sellers haveacceptance signed one and copyperformance. of the Offer, IS or (AGENT separate OF but BUYER) identical Line(AGENT 3 Buyer’s Name BINDING ACCEPTANCE This Offer is binding upon both Parties only if a copy of the accepted delivered to Buyer on BROKER) (AGENT OF BUYER AND SELLER) STRIKE THOSEOffer NOTisAPPLICABLE copies of OF the SELLER/LISTING Offer. or before _______________________________________________________________. Seller may keep theterm Property on the GENERAL PROVISIONS The Buyer, CAUTION: Deadlines in the Offer are_____________________________________________________________________ commonly calculated from acceptance. Consider whether short deadlines market and accept secondary offers after binding acceptance of this Offer. _______________________________, offers to purchase thebinding Property known as [Street Address] _____________________ running from acceptance provide adequate time for both acceptance and performance. CAUTION: This Offer mayThis be withdrawn priorupon to delivery of theonly accepted Offer. ______________________________________________________________ inon thethe _________________________________ BINDING ACCEPTANCE Offer is binding both Parties if a copy of accepted Offer is should delivered use to Buyer on legal When drafting an offer, a licensee puts the buyer’s legal name line 3. Parties their OPTIONAL PROVISIONS TERMS OF THIS OFFER ARE PRECEDED BY AN OPEN BOX ( ) ARE PART OFon THIS of __________________________________, CountyTHAT of purchase. _____________________________ Wisconsin (insert additional or before _______________________________________________________________. Seller may keep the Property theoffer, names, not nicknames, when drafting offers to If more than one person is making the OFFERand ONLY IF THE BOX165-172 ISoffers MARKED SUCH WITHasAN “X.” THEY NOT434), PART OFFER IF MARKED “N/A” description, if any, at lines orafter 435-442 orAS attach anof addendum per line onOF theTHIS following terms: market accept secondary binding acceptance this Offer.ARE the names of all the buyers should be placed on line 3. Buyers should not indicate how they intend to OR ARE LEFT BLANK. ■ PURCHASE _________________________________________________________________________________ CAUTION: ThisPRICE: Offer may be withdrawn prior to delivery of the accepted Offer. DELIVERY OF DOCUMENTS AND WRITTEN NOTICES Unless otherwise stated in this Offer, delivery of documents and take____________________________________________________________ title to the property on line 3. Title information is included on a deed. For example, if__a____). married Dollars ($___________________________ OPTIONAL PROVISIONS TERMS OF THIS OFFER THAT ARE PRECEDED BY AN OPEN BOX (  ) ARE PART OF THIS written notices to a Party shall effective only when accomplished by Offer one ofand the methods specified at lines 36-54. Approved by themaking Wisconsin Department ofbe Regulation and Licensing Page 1“as of 9, WB-11 couple were an offer, they would put just their names on line 3 and not their names husband ■ EARNEST MONEY of $ ____________________accompanies this earnest money of $ ____________________ OFFER ONLY IF THE BOX IS MARKED SUCH AS WITH AN “X.” THEY ARE NOT PART OF THIS OFFER IF MARKED “N/A” 03-1-11 (Optional Use Date) 07-1-11 (Mandatory Use Date) (1) Personal Delivery: giving the document delivered or written within notice personally to the Party, days or the Party's recipient for delivery be mailed, or commercially orLicensees personally listing broker orif and OR ARE LEFT BLANK. and will wife and joint tenants.” should not____________________ adviseTObuyers on how oftoacceptance take titletoto a property WB-11 RESIDENTIAL OFFER PURCHASE named at line 38 or 39. ________________________________________________________________________________________________ ______. DELIVERY OF DOCUMENTS AND NOTICES in thisto Offer, of documents and licensees should refer buyers toWRITTEN an attorney for aUnless legalotherwise opinionstated on how titledelivery property. Seller's recipient delivery (optional): _______________________________________________________________________ ■ THE notices BALANCE PURCHASE PRICE will be paidaccomplished in cash or equivalent closing unless otherwise provided below. written to for a OF Party shall be effective only when by one ofatthe methods specified at lines 36-54. LICENSEE DRAFTING THIS OFFER ON ________________________________________ [DATE] IS (AGENT OF BUYER) Buyer's recipient delivery _______________________________________________________________________ ■ INCLUDED INfor PURCHASE PRICE: Seller including in thepersonally purchasetoprice Property, Fixtures on theforProperty (1) Personal Delivery: giving(optional): the document oris written notice the the Party, or the all Party's recipient deliveryonif (AGENT OF SELLER/LISTING BROKER) (AGENTwritten OF BUYER STRIKE THOSE NOT APPLICABLE (2) Fax: fax transmission of the document notice AND toadditional theSELLER) following telephone number: Lines 4-7 Property Description the dateatofline this38 Offer not excluded at lines 17-18,or and the following items: __________________________________ named or 39. GENERAL PROVISIONS The Buyer, _____________________________________________________________________ Seller: (________) Buyer: (_________) _______________________________ ____ ______. __ ___________________________________________________________________________________________________ Seller's recipient for________________________________ delivery (optional): _______________________________________________________________________ _______________________________, offers to document purchase the Propertynotice knownfees as [Street Address] _____________________ (3) Commercial Delivery: depositing the or written prepaid or charged to an account with ■ NOT INCLUDED PURCHASE PRICE: ___________________________________________________________________a Buyer's recipient for IN delivery (optional): _______________________________________________________________________ ______________________________________________________________ in the _________________________________ commercial delivery service, addressed either to or thewritten Party,notice or to the Party's recipient for delivery if named at line 38 or 39, for _____. ____________________________________________________________________________________________________ (2) Fax: fax transmission of the document to the following telephone number: of __________________________________, County of _____________________________ Wisconsin (insert additional delivery to the Party's delivery address at line 47 or 48. CAUTION: Identify Fixtures that are on the Property (see lines 185-193) to be excluded by Seller or which are rented Seller: (________) ________________________________ Buyer: (_________) _____________________________________ description, if any, lines 165-172 or 435-442ororwritten attach notice as an addendum per line on Mail, the following terms: (4) continue U.S. Mail:at document prepaid in 434), the U.S. addressed either to the with Party, and will todepositing beDelivery: ownedthe by the lessor. (3) Commercial depositing the document or postage written notice fees prepaid or charged to an account a ■ to PURCHASE PRICE: _________________________________________________________________________________ or the Party's recipient for delivery if named at line 38 or 39, for delivery to the Party's delivery address at line 47 or 48. NOTE: Thedelivery terms service, of thisaddressed Offer, not theto listing contract marketing commercial either the Party, or to theorParty's recipientmaterials, for deliverydetermine if named atwhat line 38items or 39,are for ____________________________________________________________ Dollars Delivery address for Seller: ________________________________________________________________________________ A street address is usually sufficient for47describing the property that($___________________________ is the subject of the offer.______). If ___ a buyer included/excluded. delivery to the Party's delivery address at line or 48. ■ EARNEST MONEY of $ ____________________accompanies this Offer and earnest money of $ ____________________ Delivery address for Buyer: ________________________________________________________________________________ ___buyer wants to include additional descriptions like a legal description or a tax number, the ACCEPTANCE Acceptance when all or Buyers and Sellers have prepaid signed one copy ofidentification the Offer, or separate but identical (4) U.S. Mail: depositingoccurs the document written notice postage in the U.S. Mail, addressed either to the Party, will be(5) mailed, or electronically commercially transmitting or personallythe delivered within ____________________ days of acceptance to listing broker or E-Mail: or written notice Party’s e-mail address, given below at line the Offer. or to theofParty's recipient for delivery if named at document line or 39, for delivery to to thethe Party's delivery address at ifline 47 or 48. can copies include that additional information on 38 the lines provided for additional information or by___ including ________________________________________________________________________________________________ ___. 53 or 54.address If Deadlines this isfora Seller: consumer transaction where the property from being acceptance. purchased orConsider the sale proceeds are used for CAUTION: in the________________________________________________________________________________ Offer are commonly calculated short termprimarily deadlines Delivery an addendum toorthe offer. If aPRICE property have street address, awhether licensee can use a___ tax key ■ THE BALANCE OF PURCHASE will consumer bedoes paid in not cash or equivalent ataddress closing unlesshas otherwise provided below. personal, family purposes, each providing ana e-mail first consented electronically running from acceptance adequate time for both binding acceptance andbelow performance. Delivery address forhousehold Buyer: provide ________________________________________________________________________________ ___ ■ the INCLUDED INdescription. PURCHASE PRICE: Seller is including in the purchase price the Property, all Fixtures on federal the Property on number or to uselegal of electronic documents, e-mail delivery andboth electronic signatures the transaction, required law. BINDING ACCEPTANCE Thistransmitting Offer is binding upon Parties only if a copy ofParty’s the accepted Offer is delivered to Buyer on (5) E-Mail: electronically the document or written notice tointhe e-mailas address, if by given below at line the dateaddress of this Offer not excluded at _______________________________________________________________________ lines 17-18, and the following additional items: __________________________________ E-Mail for Seller (optional): or Seller may keep Property on the 53 before or 54. _______________________________________________________________. If this is a consumer transaction where the property being purchased or the sale proceeds arethe used primarily for ______. ___________________________________________________________________________________________________ E-Mail address for (optional): _______________________________________________________________________ market and accept secondary offers after binding acceptance of thisan Offer. personal, family or Buyer household purposes, each consumer providing e-mail address below has first consented electronically ■PERSONAL NOT INCLUDED IN PURCHASE PRICE: ___________________________________________________________________ DELIVERY/ACTUAL RECEIPT delivery to, or Actual Receipt by, asany named Seller CAUTION: Offer may be withdrawn prior Personal toand delivery of the accepted to the use ofThis electronic documents, e-mail delivery electronic signatures inOffer. the transaction, required by Buyer federalor law. _____. ____________________________________________________________________________________________________ constitutes personal delivery to, or Actual Receipt by, all Buyers or Sellers. OPTIONAL PROVISIONS TERMS OF THIS OFFER THAT ARE PRECEDED BY AN OPEN BOX (  ) ARE PART OF THIS E-Mail address for Seller (optional): _______________________________________________________________________ CAUTION: Identify Fixtures that are on the Property (see lines 185-193) to be excluded by Seller or which are rented OFFER ONLY IF BOX IS MARKED SUCH AS WITH AN “X.” THEY ARE NOT PART OF THIS OFFER IF MARKED “N/A” E-Mail address forTHE Buyer (optional): _______________________________________________________________________ and will continue to be owned by the lessor. OR ARE LEFTDELIVERY/ACTUAL BLANK. PERSONAL RECEIPT Personal delivery to, or Actual Receipt by, any named Buyer or Seller NOTE: The terms of this Offer, not the listing contract or marketing materials, determine what items are DELIVERYpersonal OF DOCUMENTS WRITTEN Unless otherwise stated in this Offer, delivery of documents and constitutes delivery to, AND or Actual ReceiptNOTICES by, all Buyers or Sellers. included/excluded. 3

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WB-11 RESIDENTIAL OFFER TO PURCHASE LICENSEE DRAFTING THIS OFFER ON ________________________________________ [DATE] IS (AGENT OF BUYER) (AGENT OF SELLER/LISTING BROKER) (AGENT OF BUYER AND SELLER) STRIKE THOSE NOT APPLICABLE Offers to Purchase - 10 3 GENERAL PROVISIONS The Buyer, _____________________________________________________________________ 4 _______________________________, offers to purchase the Property known as [Street Address] _____________________ Approved by the Wisconsin Department of Regulation and Licensing Page 1 of 9, WB-11 5 ______________________________________________________________ in the _________________________________ 03-1-11 (Optional Use Date) 07-1-11 (Mandatory Use Date) 6 of __________________________________, County of _____________________________ Wisconsin (insert additional Lines 8-9 Purchase Price TOper PURCHASE 7 description, if any, at lines 165-172 or WB-11 435-442RESIDENTIAL or attach as an OFFER addendum line 434), on the following terms: 8 ■ PURCHASE PRICE: _________________________________________________________________________________ 1 LICENSEE DRAFTING THIS OFFER ON ________________________________________ [DATE] IS (AGENT OF BUYER) 9 ____________________________________________________________ Dollars ($___________________________ ______). 2 (AGENT OF SELLER/LISTING BROKER) (AGENT OF BUYER AND SELLER) STRIKE THOSE NOT APPLICABLE 10 ■ EARNEST MONEY of $ ____________________accompanies this Offer and earnest money of $ ____________________ 3 GENERAL PROVISIONS The Buyer, _____________________________________________________________________ The purchase is whatorapersonally buyer is offering to____________________ a seller for the property. A licensee firstbroker writes 11 will be mailed, price or commercially delivered within days of acceptance to listing or the 4 _______________________________, offers to purchase the Property known as [Street Address] _____________________ 12 ________________________________________________________________________________________________ ___. ___ purchase price in words and then fills in the numbers in the parentheses on line 9. If there is a conflict 5 ______________________________________________________________ in the _________________________________ 13 ■ THE BALANCE OF PURCHASE PRICE will be paid in cash or equivalent at closing unless otherwise provided below. between the written and numeric entries, the of written amount is the offered purchase price.additional 6 of __________________________________, County _____________________________ Wisconsin (insert 14 ■ INCLUDED IN PURCHASE PRICE: Seller is including in the purchase price the Property, all Fixtures on the Property on 7 description, if any, at lines 165-172 or 435-442 or attach as an addendum per line 434), on the following terms: 15 the date of this Offer not excluded at lines 17-18, and the following additional items: __________________________________ 8 ■ PURCHASE PRICE: _________________________________________________________________________________ Lines 10-12 Earnest Money ______. 16 ___________________________________________________________________________________________________ 9 ____________________________________________________________ Dollars ($___________________________ ______). 17 ■ NOT INCLUDED IN PURCHASE PRICE: ___________________________________________________________________ 10 ■ EARNEST MONEY of $ ____________________accompanies this Offer and earnest money of $ ____________________ 18 _________________________________________________________________________________________________________. 11 will be mailed, or commercially or personally delivered within ____________________ days of acceptance to listing broker or 19 CAUTION: Identify Fixtures that are on the Property (see lines 185-193) to be excluded by Seller or which are rented 12 ________________________________________________________________________________________________ ______. 20 and will continue to be owned by the lessor. 13 ■ THE BALANCE OF PURCHASE PRICE will be paid in cash or equivalent at closing unless otherwise provided below. 21 NOTE: The terms of this Offer, not the listing contract or marketing materials, determine what items are 14 ■ INCLUDED IN PURCHASE PRICE: Sellermoney is including the purchase price thewith Property, all Fixtures on the PropertyEarnest on A 22 buyer states the amount earnest theinbuyer will include an offer on lines 10-11. included/excluded. Approved by the Wisconsin Department ofof Regulation and Licensing Page 1 of 9, WB-11 15 03-1-11 the date of this Offer not excluded at lines 17-18, and the following additional items: __________________________________ (Optional Use Date) 07-1-11 (Mandatory Use Date) money is cash orAcceptance anotheroccurs item when of value thatand a buyer includes an ofoffer to indicate a but buyer’s 23 ACCEPTANCE all Buyers Sellers have signed with one copy the Offer, or separate identicalinten______. 16 ___________________________________________________________________________________________________ WB-11 RESIDENTIAL OFFER TOproperty. PURCHASEEarnest money does not have to 24 copies of the through Offer. tion to follow with the offer to purchase a seller’s 17 ■ NOT INCLUDED IN PURCHASE PRICE: ___________________________________________________________________ 25 CAUTION: Deadlines in the Offer are commonly calculated from acceptance. Consider whether short term deadlines accompany an offer and earnest money is not required to create a binding contract. A buyer who is _____. 18 ____________________________________________________________________________________________________ 1 running LICENSEE DRAFTING THIS OFFER ON ________________________________________ [DATE] IS (AGENT OF BUYER) 26 from acceptance provide adequate time for both binding acceptance and performance. 19 CAUTION: Identify Fixtureswith that are on the Property (see lines 185-193) to be excluded by Seller or which are rentedamount including earnest money an offer can include one amount with the offer and an additional 2 (AGENT OF SELLER/LISTING BROKER) (AGENT OF BUYER AND SELLER) STRIKE THOSE NOT APPLICABLE 27 BINDING ACCEPTANCE This Offer is binding upon both Parties only if a copy of the accepted Offer is delivered to Buyer on 20 and continue be owned by the_____________________________________________________________________ lessor. A buyer could also choose to submit an offer without earnest 3 or GENERAL PROVISIONS The Buyer, within awill number oftodays of acceptance. 28 before _______________________________________________________________. Seller may keep the Property on the 21 NOTE: The terms of this Offer, not theto listing contract or marketing materials, determine what items are 4 market _______________________________, theofmoney Property known Address] 29 andagree accept secondary offers afteroffers binding acceptance this Offer. money but to provide payment ofpurchase earnest withinasa[Street number of _____________________ days of a seller accept22 included/excluded. 5 ______________________________________________________________ in the _________________________________ 30 CAUTION: This Offer may be withdrawn prior to delivery of the accepted Offer. ing the offer. Buyers usually money tohave thesigned listing butOffer, lineor12 permits a buyer to 23 ACCEPTANCE Acceptance occurspay whenearnest all Buyers onebroker copy of the separate but identical 6 of __________________________________, Countyand of Sellers _____________________________ Wisconsin 31 OPTIONAL PROVISIONS TERMS OF THIS OFFER THAT ARE PRECEDED BY AN OPEN BOX (  ) ARE(insert PARTadditional OF THIS designate some other party to hold the earnest money. If parties would like another party to hold the 24 copies of the Offer. 7 OFFER description, if any, at lines or 435-442 attach an “X.” addendum per line onOF theTHIS following terms: 32 ONLY IF THE BOX165-172 IS MARKED SUCHorAS WITHasAN THEY ARE NOT434), PART OFFER IF MARKED “N/A” 25 CAUTION: Deadlines in_________________________________________________________________________________ the Offer are commonly calculated from in acceptance. Consider whether short term deadlines earnest money, licensees should not assist the parties drafting agreements or contracts for holding 8 ■ PURCHASE PRICE: 33 OR ARE LEFT BLANK. 26 running from acceptance provide adequate time for both binding acceptance and performance. 9 ____________________________________________________________ Dollars ($___________________________ ____). __ the earnest money. 34 Approved DELIVERY OF DOCUMENTS AND WRITTEN NOTICES Unless otherwise stated in this Offer, delivery of documents and by the Wisconsin Department of Regulation and Licensing Page 1 of 9, WB-11 27 ACCEPTANCE OfferUse is binding upon both Parties onlyOffer if a copy of the accepted Offer is delivered to Buyer on (Optional 07-1-11 (Mandatory Date) 10 03-1-11 ■BINDING EARNEST MONEY of shall $ This ____________________accompanies money of $ at ____________________ 35 written noticesUse toDate) a Party be effective only when accomplishedthis by one ofand theearnest methods specified lines 36-54. 28 or _______________________________________________________________. Seller may keep the Property on the 11 (1) willbefore be mailed, or commercially or personally of Party's acceptance to listing broker orif WB-11 delivered RESIDENTIAL OFFER TOto PURCHASE 36 Personal Delivery: giving the document or written within notice____________________ personally the Party, days or the recipient for delivery Line 13 Balance Purchase Price 29 ________________________________________________________________________________________________ market and accept of secondary offers after binding acceptance of this Offer. 12 ___. ___ 37 named at line 38 or 39. 30 CAUTION: This Offer may beOFFER withdrawn prior delivery ofor the acceptedatOffer. 1 LICENSEE DRAFTING THIS ON ________________________________________ IS provided (AGENT below. OF BUYER) 13 ■ THE BALANCE PURCHASE PRICE will betopaid in cash equivalent closing unless [DATE] otherwise 38 Seller's recipient forOF delivery (optional): _______________________________________________________________________ 31 OPTIONAL PROVISIONS TERMS OF THIS OFFER THAT ARE PRECEDED OPEN BOX (  APPLICABLE ) ARE PART OF THIS 2 (AGENT OF SELLER/LISTING BROKER) (AGENT OF BUYER SELLER) STRIKE THOSE NOT 14 ■ INCLUDED INfor PURCHASE PRICE: Seller is including in the AND purchase priceBY theAN Property, all Fixtures on the Property on 39 Buyer's recipient delivery (optional): _______________________________________________________________________ 32 OFFER ONLY IF THE BOX IS MARKED SUCH AS WITH AN “X.” THEY ARE NOT PART OF THIS OFFER IF MARKED “N/A” time 3 GENERAL PROVISIONS The Buyer, _____________________________________________________________________ 15 the date of this Offer not excluded at lines 17-18, and the following additional items: __________________________________ A 40buyer (2) willFax: pay balance of document the purchase cash or equivalent at closing or at another faxthe transmission of the or writtenprice notice in to the following telephone number: 33 OR ARE LEFT BLANK. 4 _______________________________, offers to purchase the Property known as_______________________________ [Street Address] _____________________ __ 16 ___________________________________________________________________________________________________ 41 Seller: ________________________________ Buyer: ____ ______. agreed to(________) by OF theDOCUMENTS parties. Often, rather than cash, a (_________) buyer pays the purchase price by a certified or 34 DELIVERY ANDPRICE: WRITTEN NOTICES Unless otherwise in stated in this Offer, delivery of documents and 5 ______________________________________________________________ theprepaid _________________________________ 17 ■ NOT INCLUDED IN PURCHASE ___________________________________________________________________ 42 (3) Commercial Delivery: depositing the document or written notice fees or charged to an account with a cashier’s check. In a transaction where a buyer has acquired a mortgage to purchase the property, 35 written notices to a Party shall be effective only when accomplished by one of the methods specified at lines 36-54. 6 of __________________________________, of _____________________________ _____. 18 ____________________________________________________________________________________________________ 43 commercial delivery service, addressed either toCounty the Party, or to the Party's recipient for delivery Wisconsin if named at (insert line 38 additional or 39, the mortgage lender often pays the balance of the purchase price to seller at closing. If aforifbuyer 36 (1) Personal Delivery: giving the document or written notice personally to to the Party, orthe the Party's recipient for delivery 7 description, if any, at lines 165-172 or 435-442 or attach as an addendum per line 434), on the following terms: 19 CAUTION: Identify Fixtures that are on the Property (see lines 185-193) be excluded by Seller or which are rented 44 delivery to the Party's delivery address at line 47 or 48. 37 named atcontinue line 38PRICE: ormoney included earnest with balance of theprepaid purchase price will reflect either credit forParty, that ear8 ■ PURCHASE 20 and will to39. be _________________________________________________________________________________ owned byan theoffer, lessor. 45 (4) U.S. Mail: depositing the document orthe written notice postage in the U.S. Mail, addressed to the 38 Seller's recipient for delivery (optional): _______________________________________________________________________ 9 ____________________________________________________________ Dollars ($___________________________ ______). 21 or NOTE: of for this Offer, not the listing orwith marketing materials, determine what items are price nest money. Ifterms a buyer did notifinclude earnest money offer, the balance the purchase 46 to the The Party's recipient delivery named at line 38 or contract 39, for delivery to an the Party's delivery address atof line 47 or 48. 39 ■ Buyer's recipient for delivery (optional): _______________________________________________________________________ 10 EARNEST MONEY of $ ____________________accompanies this Offer and earnest money of $ ____________________ 22 included/excluded. 47 Delivery address forpurchase Seller: ________________________________________________________________________________ ___ may be the entire price. 40 Fax: fax transmission of personally thewhen document or written notice tohave the following telephone number: 11 be(2) mailed, or Acceptance commercially or within ____________________ of Offer, acceptance to listing or 23 will ACCEPTANCE occurs alldelivered Buyers and Sellers signed one copydays of the or separate butbroker identical 48 Delivery address for Buyer: ________________________________________________________________________________ ___ 41 Seller: (________) ________________________________ Buyer: (_________) _______________________________ ______ Lines 14-22 Included/ Nottransmitting Included Purchase Price 12 24 ________________________________________________________________________________________________ copies of the Offer. 49 (5) E-Mail: electronically thein document or written notice to the Party’s e-mail address, if given below___ at ___. line 42 ■ (3)BALANCE Commercial Delivery: depositing thebedocument or written noticeatfees prepaid or whether charged to an term account with a 13 THE PURCHASE PRICE will paid in cash orfrom equivalent closing unless provided below. 25 CAUTION: in the Offer are commonly calculated acceptance. deadlines 50 53 or 54. If Deadlines this is OF a consumer transaction where the property being purchased orConsider the sale otherwise proceeds short are used primarily for 43 commercial delivery service,provide addressed either is to thefor Party, orthe to the Party's recipient forperformance. delivery ifFixtures named at line 38 or 39, for 14 ■ INCLUDED IN PURCHASE PRICE: Seller including in purchase price the Property, all on the Property on 26 running from acceptance adequate time both binding acceptance and 51 personal, family or household purposes, each consumer providing an e-mail address below has first consented electronically 44 delivery to ACCEPTANCE the Party's delivery line 47upon or 48.bothfollowing 15 date this Offer not excluded ate-mail lines 17-18, and additional __________________________________ 27 the BINDING Thisaddress Offer isatbinding Partiessignatures only if a copy of transaction, the acceptedasOffer is delivered to Buyer 52 to the useofof electronic documents, delivery andthe electronic initems: the required by federal law. on 45 ___________________________________________________________________________________________________ (4) _______________________________________________________________. U.S. Mail: depositing the document or written notice postage prepaid in the U.S.Seller Mail, addressed either to the__ Party, 16 ____. 28 or before may keep the Property on the 53 E-Mail address for Seller (optional): _______________________________________________________________________ 46 or to theand Party's recipient for delivery ifPRICE: named at line 38 or 39, for delivery to the Party's delivery address at line 47 or 48. 17 ■ NOT INCLUDED IN PURCHASE ___________________________________________________________________ 29 market accept secondary offers after binding acceptance of this Offer. 54 E-Mail address for Buyer (optional): _______________________________________________________________________ 47 Delivery address for Seller: ________________________________________________________________________________ ___ _____. 18 30 ____________________________________________________________________________________________________ CAUTION: This Offer may be withdrawn prior Personal to delivery of the accepted Offer.Receipt by, any named Buyer or Seller 55 PERSONAL DELIVERY/ACTUAL RECEIPT delivery to, or Actual 48 Delivery address for Buyer: ________________________________________________________________________________ ___ 19 CAUTION: Identify Fixtures that are on the Property (see lines 185-193) to be excluded by Seller or which are rented 31 constitutes OPTIONALpersonal PROVISIONS OF THIS OFFER THAT ARE BY AN OPEN BOX (  ) ARE PART OF THIS 56 deliveryTERMS to, or Actual Receipt by, all Buyers orPRECEDED Sellers. 49 and (5)ONLY E-Mail: electronically transmitting the document or written notice to the Party’s address, if given below at“N/A” line 20 will continue to be owned by the lessor. 32 OFFER IF THE BOX IS MARKED SUCH AS WITH AN “X.” THEY ARE NOT PARTe-mail OF THIS OFFER IF MARKED 50 53 54.The If this is a consumer transaction where the property being the sale proceeds are used for 21 terms of this Offer, not the listing contract or purchased marketingormaterials, determine what primarily items are 33 NOTE: ORor ARE LEFT BLANK. 51 personal, family or household purposes, each consumer providing an e-mail address below has first consented electronically 22 34 included/excluded. DELIVERY OF DOCUMENTS AND WRITTEN NOTICES Unless otherwise stated in this Offer, delivery of documents and 52 written to the use of electronic documents, e-mail andaccomplished electronic the transaction, required by36-54. federal 23 ACCEPTANCE whendelivery all Buyers and Sellers signatures have signed onemethods copy of specified the as Offer, separate but law. identical 35 notices to Acceptance a Party shalloccurs be effective only when by one ofinthe atorlines 53 E-Mail address for Seller _______________________________________________________________________ 24 of the Offer. 36 copies (1) Personal Delivery: the document or written noticethe personally to unless the Party,otherwise or the Party's recipienttofor if The purchase price ofgiving a(optional): property always includes fixtures agreed bydelivery the parties. 54 E-Mail address Buyer _______________________________________________________________________ 25 Deadlines the Offer are commonly calculated fromseller’s acceptance. Consider whether in short term deadlinesprice. 37 CAUTION: named at line 38fororwant 39. in (optional): Buyers may also a seller to include some of the personal property the purchase 55 running PERSONAL RECEIPT Personal delivery to,acceptance or Actual Receipt by, any named Buyer or Seller from DELIVERY/ACTUAL acceptance adequate for both binding performance. 38 Seller's recipient for deliveryprovide (optional): _______________________________________________________________________ A 26 buyer lists this personal ontime lines 15-16. If there are and fixtures on a property that the buyer 56 personal deliveryThis to, property or Actual Receipt by, all Buyers or only Sellers. 27 BINDING ACCEPTANCE Offer is _______________________________________________________________________ binding upon both Parties if a copy of the accepted Offer is delivered to Buyer on 39 constitutes Buyer's recipient for delivery (optional): 1 2

does not(2)want included transaction, the buyer excludes these items fromthethe transaction 28 _______________________________________________________________. Seller may keep Property on the on 40 or before Fax: to faxbe transmission of in thethe document or written notice to the following telephone number: lines 17-18. What is and what is not a fixture may not be clear to consumers involved in a real estate 29 market and accept secondary offers after binding acceptance of this Offer. 41 Seller: (________) ________________________________ Buyer: (_________) _______________________________ ______ 30 42 31 43 32 44 33 45 34 46 35 47

CAUTION: This Offer may be withdrawn to deliveryorofwritten the accepted Offer.prepaid or charged to an account with a (3) Commercial Delivery: depositingprior the document notice fees OPTIONAL delivery PROVISIONS OF THIS THATorARE PRECEDED BY ANfor OPEN BOX (  ) ARE PART OF39, THIS commercial service,TERMS addressed eitherOFFER to the Party, to the Party's recipient delivery if named at line 38 or for OFFER IF THEdelivery BOX IS address MARKED WITH AN “X.” THEY ARE NOT PART OF THIS OFFER IF MARKED “N/A” delivery ONLY to the Party's at SUCH line 47AS or 48. OR ARE BLANK. (4) LEFT U.S. Mail: depositing the document or written notice postage prepaid in the U.S. Mail, addressed either to the Party, DELIVERY OF recipient DOCUMENTS ANDif WRITTEN NOTICES otherwise this Offer, delivery of47 documents and or to the Party's for delivery named at line 38 or 39,Unless for delivery to thestated Party'sindelivery address at line or 48. written to for a Party shall be effective only when accomplished by one of the methods specified at lines 36-54. Deliverynotices address Seller: ________________________________________________________________________________ ___

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DEFINITIONS CONTINUED FROM PAGE 2 ■ DEADLINES: “Deadlines” expressed as a number of “days” from an event, such as acceptance, are calculated by excluding 175 the day the event occurred and by counting subsequent calendar days. The deadline expires at midnight on the last day. 176 Deadlines expressed REAL ESTATE SALESas a specific number of “business days” exclude Saturdays, Sundays, any legal public holiday under 177 Wisconsin or Federal law, and any other day designated by the President such that the postal service does not receive 178 registered mail or make regular deliveries on that day. Deadlines expressed as a specific number of “hours” from the 179 occurrence of an event, such as receipt of a notice, are calculated from the exact time of the event, and by counting 24 hours 180 per calendar day. Deadlines expressed as a specific day of the calendar year or as the day of a specific event, such as transaction and a licensee must understand the definition of fixture so that the licensee can educate 181 closing, expire at midnight of that day. the parties about which items will or will not be included in the purchase price. 182 ■ DEFECT: “Defect” means a condition that would have a significant adverse effect on the value of the Property; that would 183 significantly impair the health or safety of future occupants of the Property; or that if not repaired, removed or replaced would Lines 185-195 Fixtures 184 significantly shorten or adversely affect the expected normal life of the premises. 185 ■ FIXTURE: A “Fixture” is an item of property which is physically attached to or so closely associated with land or 186 improvements so as to be treated as part of the real estate, including, without limitation, physically attached items not easily 187 removable without damage to the premises, items specifically adapted to the premises and items customarily treated as 188 fixtures, including, but not limited to, all: garden bulbs; plants; shrubs and trees; screen and storm doors and windows; electric 189 lighting fixtures; window shades; curtain and traverse rods; blinds and shutters; central heating and cooling units and attached 190 equipment; water heaters and treatment systems; sump pumps; attached or fitted floor coverings; awnings; attached 191 antennas; garage door openers and remote controls; installed security systems; central vacuum systems and accessories; in192 ground sprinkler systems and component parts; built-in appliances; ceiling fans; fences; storage buildings on permanent 193 foundations and docks/piers on permanent foundations. 194 CAUTION: Exclude any Fixtures to be retained by Seller or which are rented (e.g., water softener or other water 195 conditioning systems, home entertainment and satellite dish components, L.P. tanks, etc.) on lines 17-18. 196 ■ PROPERTY: Unless otherwise stated, “Property” means the real estate described at lines 4-7. 197 PROPERTY DIMENSIONS AND SURVEYS Buyer acknowledges that any land, building or room dimensions, or total There are many subtleties in thefigures, definition of fixtures. example, on line the definition includes 198 acreage or building square footage provided to Buyer byFor Seller or by a broker, may189, be approximate because of curtains andformulas traverse butreasons, does unless not include actual curtains 199 rounding, usedrods or other verified bythe survey or other means. or draperies that hang on the rods. 200 CAUTION: Buyer should verify total square footage formula, square footage/acreage figures, and land, buildingwhat Real estate transactions become complicated when total buyers and sellers do not fully understand or room dimensions, material. is 201 included in the saleif of the property. Licensees can help parties avoid fixture disputes by educating 202 BUYER’S PRE-CLOSING WALK-THROUGH Within 3 days prior to closing, at a reasonable time pre-approved by Seller or both buyers and sellers on the definition of fixtures and ensuring that buyers are specific when nam203 Seller's agent, Buyer shall have the right to walk through the Property to determine that there has been no significant change ing to be included and except excluded from wear the purchase in approved a buyer’s offer. and Parties do not 204items in the condition of the Property, for ordinary and tear andprice changes by Buyer, that anywho defects understand items included or excluded as a seller’s personal property can have 205 Seller has whether agreed to cure haveare been repaired inas thefixtures manner agreed to by the Parties. PROPERTY and DAMAGE BETWEEN ACCEPTANCE AND CLOSING Seller shall maintain the Property until the earlier of a 206 complicated unsatisfactory transaction. 207 closing or occupancy of Buyer in materially the same condition as of the date of acceptance of this Offer, except for ordinary 208 wear and tear. If, prior to closing, the Property is damaged in an amount of not more than five percent (5%) of the selling price, As209noted on lines 21-22, a buyer’s offer to purchase, not a seller’s listing contract, controls what is Seller shall be obligated to repair the Property and restore it to the same condition that it was on the day of this Offer. No later included in theSeller purchase price. The contract the seller’s wish list of what items a seller wants 210 than closing, shall provide Buyer withlisting lien waivers for all is lienable repairs and restoration. If the damage shall exceed to211 include or Seller exclude. such sum, shall promptly notify Buyer in writing of the damage and this Offer may be canceled at option of Buyer. 212 Should Buyer elect to carry out this Offer despite such damage, Buyer shall be entitled to the insurance proceeds, if any, 213 relating to the damage to the Property, plus a credit towards the purchase price equal to the amount of Seller's deductible on When listing a property, a licensee should have a seller identify fixtures that the seller wants to exclude 214 such policy, if any. However, if this sale is financed by a land contract or a mortgage to Seller, any insurance proceeds shall from the transaction and caution the seller that an offer to purchase, rather than the listing contract, 215 be held in trust for the sole purpose of restoring the Property. 173 174

determines what items will be included in the purchase price.

A seller’s dining room contains an antique chandelier that belonged to the seller’s grandmother. When listing the property, a licensee should ask the seller if the chandelier is going to remain in the property or if the seller is going to remove it. If the seller intends to take the chandelier, the seller should exclude it from the listing contract and, if the seller accepts an offer, make sure that the buyer has also excluded it from the offer to purchase. If a buyer submits an offer that does not exclude the chandelier, a seller could counter-offer excluding it from the purchase price of the offer. If a seller accepts an offer that does not exclude the chandelier, it is included in the purchase price of the accepted offer as a fixture. If the seller removed the chandelier prior to the buyer taking occupancy, a buyer may have a claim against the seller for the chandelier or the cost of its replacement. To avoid ambiguity, a seller could choose to remove the chandelier before showing the property to prospective buyers. If parties to a transaction have a dispute after closing regarding included and excluded items, licensees should refer the parties to an attorney to discuss their options and should not attempt to negotiate a solution between the parties.

134

■ INCLUDED IN PURCHASE PRICE: Seller is including in the purchase price the Property, all Fixtures on the Property on the date of this Offer not excluded at lines 17-18, and the following additional items: __________________________________ ______. 16 ___________________________________________________________________________________________________ Offers to Purchase - 10 17 ■ NOT INCLUDED IN PURCHASE PRICE: ___________________________________________________________________ 18 _________________________________________________________________________________________________________. 19 CAUTION: are on the Property (see lines 185-193) to be excluded by Seller or whichPage are1 rented Approved by theIdentify Wisconsin Fixtures Department that of Regulation and Licensing of 9, WB-11 (Optional Use Date) 07-1-11 (Mandatory Uselessor. Date) 20 03-1-11 and will continue to be owned by the Lines 23-26 21 NOTE: TheAcceptance terms of this Offer, WB-11 not the listing contract or TO marketing materials, determine what items are RESIDENTIAL OFFER PURCHASE 22 included/excluded. 23 ACCEPTANCE Acceptance all Buyers and Sellers have signed one copy of the Offer, IS or (AGENT separate OF but BUYER) identical 1 LICENSEE DRAFTING THIS occurs OFFERwhen ON ________________________________________ [DATE] 24 copies of OF the SELLER/LISTING Offer. 2 (AGENT BROKER) (AGENT OF BUYER AND SELLER) STRIKE THOSE NOT APPLICABLE 25 in the Offer are_____________________________________________________________________ commonly calculated from acceptance. Consider whether short term deadlines 3 CAUTION: GENERAL Deadlines PROVISIONS The Buyer, 26 running from acceptance provide adequate time for both acceptance and performance. 4 _______________________________, offers to purchase thebinding Property known as [Street Address] _____________________ 27 BINDING ACCEPTANCE This Offer is binding upon both Parties only if a copy accepted Offer is delivered to Buyer on 5 ______________________________________________________________ in of thethe _________________________________ A 28party signs an offer before submitting it. Ifofthe other party accepts Seller the offer, thethe(insert party does or before _______________________________________________________________. may keep Property on theso by 6 of __________________________________, County _____________________________ Wisconsin additional 29 market and accept secondary offers after binding acceptance of this Offer. 7 description, if any, at lines 165-172 or 435-442 or attach as an addendum per line 434), on the following terms: signing it. This is acceptance and the date of acceptance is the date of the last signature on the 30 CAUTION: Offer may be withdrawn to delivery of the acceptedin Offer. 8 ■ PURCHASE PRICE: _________________________________________________________________________________ offer. Many This dates and deadlines forprior performing obligations an offer to purchase run from the date 31 OPTIONAL PROVISIONS TERMS OF THIS OFFER THAT ARE PRECEDED BY AN OPEN BOX (  ) ARE PART OF THIS 9 ____________________________________________________________ Dollars ($___________________________ ____). of10 acceptance. When including deadlines in an offer, a party must make sure to make the__deadlines 32 ■ OFFER ONLYMONEY IF THE BOX IS MARKED SUCH AS WITH AN “X.” THEY AREand NOT PARTmoney OF THIS IF MARKED “N/A” EARNEST of $ ____________________accompanies this Offer earnest of $OFFER ____________________ long enough foror performance of the underlying action. 33 will OR ARE LEFT BLANK. 11 be mailed, commercially or personally delivered within ____________________ days of acceptance to listing broker or Approved by the Wisconsin Department of Regulation and Licensing Page 1 of 9, WB-11 34 03-1-11 DELIVERY AND Use WRITTEN NOTICES Unless otherwise stated in this Offer, delivery of documents and 12 ________________________________________________________________________________________________ ______. (OptionalOF Use DOCUMENTS Date) 07-1-11 (Mandatory Date) 35 written notices to Party shall be effective only when accomplished by one acceptance. ofatthe methods specified at lines 36-54. ■ THEdrafts BALANCE PURCHASE willfive be paid in cash orbinding equivalent closing unless otherwise provided below. A 13 buyer ana OF offer giving aPRICE seller days for The buyer offers $3,000 earWB-11 RESIDENTIAL OFFER TO PURCHASE 36 ■ (1)money Personalthree Delivery: giving the document notice the accepts Party, or the Party's recipient delivery 14 INCLUDED IN PURCHASE PRICE: Selleroris written including in thepersonally purchase price the Property, all Fixtures theforsame Property onif the nest days after acceptance. The seller signs toand the offer ononthe day 37 the named 38 or 39. 15 dateatofline this Offer not excluded at lines 17-18, and the following additional items: __________________________________ 1 LICENSEE DRAFTING ________________________________________ [DATE] (AGENT OF BUYER) buyer submitted it butTHIS the OFFER seller ON does not deliver the offer back to the buyer forIS four more days. The 38 ___________________________________________________________________________________________________ Seller's recipient for delivery (optional): _______________________________________________________________________ 16 2 (AGENT OF SELLER/LISTING BROKER) (AGENT OF BUYER AND SELLER) STRIKE THOSE NOT APPLICABLE ______. delivery to for the buyer is binding acceptance. The buyer was unaware that the seller accepted 39 ■ Buyer's recipient delivery (optional): _______________________________________________________________________ 17 NOTback INCLUDED IN PURCHASE PRICE: ___________________________________________________________________ 3 GENERAL PROVISIONS The Buyer, _____________________________________________________________________ the offer on the day the buyer submitted it,written which the deadline the buyer to provide_____. earnest 40 (2) Fax: fax transmission of the document notice to the following number: 18 ____________________________________________________________________________________________________ 4 _______________________________, offers to or purchase thestarted Property known astelephone [Street for Address] _____________________ 41 Seller: (________) ________________________________ Buyer: (_________) _______________________________ ____ __ 19 CAUTION: Identify Fixtures that are on the Property (see lines 185-193) to be excluded by Seller or which are rented money. Because the three days from acceptance deadline for providing earnest money has expired, 5 ______________________________________________________________ in the _________________________________ 42 (3)has Commercial depositing the County document or buyer written notice fees prepaid enough or charged to anfor account withaccepa 20 and__________________________________, will continue to beDelivery: owned by thethe lessor. 6 buyer of of _____________________________ Wisconsin (insert additional the already breached contract. The did not provide time binding 43 commercial delivery service, addressed either to the Party, or to the Party's recipient for delivery if named at line 38 or 39, for 21 NOTE: The terms of this Offer, not the listing contract or marketing materials, determine what items are 7 description, if any, at lines 165-172 or 435-442 or situation, attach as an the addendum line 434), on theprovided following terms: tance andtoperformance. To prevent this buyerpershould have five days for binding 44 delivery the Party's delivery address at line 47 or 48. 22 included/excluded. 8 ■ PURCHASE PRICE: _________________________________________________________________________________ acceptance and six days after acceptance for payment of the earnest money. 45 (4) U.S. Mail: depositingoccurs the document written notice postage in the U.S. addressed either but to the Party, 23 ACCEPTANCE Acceptance when all or Buyers and Sellers have prepaid signed one copy of Mail, the Offer, or separate identical 9 ____________________________________________________________ Dollars ($___________________________ ______). 46 ■ or to theofParty's recipient delivery if named at line 38 or 39, for delivery to the delivery address at line 47 or 48. 24 copies the Offer. 10 EARNEST MONEY offor $ ____________________accompanies this Offer andParty's earnest money of $ ____________________ 47 will Delivery address Seller: 25 CAUTION: Deadlines inAcceptance the________________________________________________________________________________ Offer are commonly calculated from acceptance. Consider short Lines 27-30 Binding 11 be mailed, or for commercially or personally delivered within ____________________ days ofwhether acceptance to term listingdeadlines broker___ or 48 ________________________________________________________________________________________________ Delivery address for Buyer: provide ________________________________________________________________________________ ___ 26 running from acceptance adequate time for both binding acceptance and performance. 12 ______. 49 ■ E-Mail: electronically the be document or written notice toatthe e-mail address, if given below. below at line 27 BINDING ACCEPTANCE Thistransmitting Offer is binding upon Parties only if a copy ofParty’s the unless accepted Offer is provided delivered to Buyer on 13 THE(5)BALANCE OF PURCHASE PRICE will paidboth in cash or equivalent closing otherwise 50 or 53 or 54. If this is a consumer transaction where the property being purchased or the sale proceeds are used primarily for 28 before _______________________________________________________________. Seller may keep the Property on the 14 ■ INCLUDED IN PURCHASE PRICE: Seller is including in the purchase price the Property, all Fixtures on the Property on 51 market personal, family or household purposes, each consumer providing an e-mail address below has first consented electronically 29 and accept secondary offers after binding acceptance of this Offer. 15 the date of this Offer not excluded at lines 17-18, and the following additional items: __________________________________ 52 CAUTION: to the use ofThis electronic documents, e-mail delivery electronic signatures the transaction, as required by federal law. 30 Offer may be withdrawn prior toand delivery of the acceptedinOffer. ______. 16 ___________________________________________________________________________________________________ 53 E-Mail address for Seller (optional): _______________________________________________________________________ 31 OPTIONAL PROVISIONS TERMS OF THIS OFFER THAT ARE PRECEDED BY AN OPEN BOX (  ) ARE PART OF THIS 17 ■ NOT INCLUDED IN PURCHASE PRICE: ___________________________________________________________________ 54 ____________________________________________________________________________________________________ E-Mail address forTHE Buyer (optional): _______________________________________________________________________ 32 OFFER ONLY IF BOX IS MARKED SUCH AS WITH AN “X.” THEY ARE NOT PART OF THIS OFFER IF MARKED__ “N/A” ___. An18 offer to purchase becomes a contract for sale or a to, purchase agreement upon binding acceptance. 55 CAUTION: PERSONAL DELIVERY/ACTUAL Personal delivery or Actual Receipt by, any named Buyer or Seller 33 OR ARE LEFT BLANK. 19 Identify Fixtures that areRECEIPT on the Property (see lines 185-193) to be excluded by Seller or which are rented Until binding acceptance occurs, the party who made the offer canin withdraw it. Binding acceptance 56 and constitutes personal to, or Receipt by, all Buyers or Sellers. 34 DELIVERY OF DOCUMENTS AND WRITTEN NOTICES Unless otherwise stated this Offer, delivery of documents and 20 will continue todelivery be owned byActual the lessor. 35 written notices to a Party shall be effective only when accomplished by one of the methods specified at lines 36-54. occurs when the accepting party delivers the offer back to the party who made the offer according to 21 NOTE: The terms of this Offer, not the listing contract or marketing materials, determine what items are 36 included/excluded. (1) Personal Delivery: the document or written notice personally to the Party, or the Party's recipient for delivery if the delivery terms of giving the offer. 22 37 named at line 38 Acceptance or 39. 23 ACCEPTANCE occurs when all Buyers and Sellers have signed one copy of the Offer, or separate but identical 38 Seller's recipient for 24 copies of the Offer. delivery (optional): _______________________________________________________________________ A 39seller can continue to market a _______________________________________________________________________ property and accept secondary offers after binding acceptance. If a Buyer's recipient for delivery 25 CAUTION: Deadlines in the(optional): Offer are commonly calculated from acceptance. Consider whether short term deadlines seller counters a buyer’s offer, the deadline for notice binding acceptance in the buyer’s offer does not apply. 40 (2) Fax: fax transmission of the document or written to the following telephone number: 26 running from acceptance provide adequate time for both binding acceptance and performance. 41 Seller: (________) ________________________________ Buyer: (_________) _______________________________ ______ A 27 seller can counter an offer at any time. BINDING ACCEPTANCE This Offer is binding upon both Parties only if a copy of the accepted Offer is delivered to Buyer on 42 (3) Commercial Delivery: depositing the document or written notice fees prepaid or charged to an account a 28 or before _______________________________________________________________. Seller may keep the Property with on the 43 market commercial deliverysecondary service, addressed either to the Party, oroftothis the Offer. Party's recipient for delivery if named at line 38 or 39, for 29 and accept offers after binding acceptance Lines 31-33 Optional Provisions 44 CAUTION: delivery to the Party's at line 47 to or delivery 48. 30 This Offerdelivery may beaddress withdrawn prior of the accepted Offer. 45 (4) U.S. Mail: depositing the document or written noticeARE postage prepaid BY in the Mail, addressed either to the 31 OPTIONAL PROVISIONS TERMS OF THIS OFFER THAT PRECEDED ANU.S. OPEN BOX (  ) ARE PART OF Party, THIS 46 OFFER or to the ONLY Party'sIFrecipient for delivery if named at line or 39, to theNOT Party's delivery address at lineIF47 or 48. “N/A” 32 THE BOX IS MARKED SUCH AS 38 WITH AN for “X.”delivery THEY ARE PART OF THIS OFFER MARKED 47 OR Delivery for Seller: ________________________________________________________________________________ ___ 33 ARE address LEFT BLANK. 48 Delivery address for Buyer: ________________________________________________________________________________ ___ 34 DELIVERY OF DOCUMENTS AND WRITTEN NOTICES Unless otherwise stated in this Offer, delivery of documents and 49 (5) E-Mail: electronically transmitting the document or written notice to the Party’s e-mail address, if given below at line an Optional provisions are not part of a buyer’s offer unless the buyer marks the open box preceding 35 written notices to a Party shall be effective only when accomplished by one of the methods specified at lines 36-54. 50 (1) 53 or 54. If this is a consumer transaction where the property being purchased or theorsale proceeds are usedforprimarily for 36 Personal Delivery: giving the document or written notice personally to the Party, the Party's recipient delivery if optional provision. 51 personal, family or household purposes, each consumer providing an e-mail address below has first consented electronically 37 named at line 38 or 39. 52 Seller's to the use of electronic documents, e-mail delivery and electronic signatures in the transaction, as required by federal law. 38 recipient for delivery (optional): _______________________________________________________________________ 53 Buyer's E-Mail address (optional): _______________________________________________________________________ 39 recipientforforSeller delivery (optional): _______________________________________________________________________ 54 E-Mail(2) address for transmission Buyer (optional): 40 Fax: fax of the_______________________________________________________________________ document or written notice to the following telephone number: 55 PERSONAL DELIVERY/ACTUAL RECEIPT Personal delivery to, or Actual_______________________________ Receipt by, any named Buyer or __ Seller 41 Seller: (________) ________________________________ Buyer: (_________) ____ 56 constitutes personal delivery to, or Actual Receipt by, all Buyers or Sellers. 42 (3) Commercial Delivery: depositing the document or written notice fees prepaid or charged to an account with a 14 15

43 44 45 46 47 48 49 50

commercial delivery service, addressed either to the Party, or to the Party's recipient for delivery if named at line 38 or 39, for delivery to the Party's delivery address at line 47 or 48. (4) U.S. Mail: depositing the document or written notice postage prepaid in the U.S. Mail, addressed either to the Party, or to the Party's recipient for delivery if named at line 38 or 39, for delivery to the Party's delivery address at line 47 or 48. Delivery address for Seller: ________________________________________________________________________________ ___ Delivery address for Buyer: ________________________________________________________________________________ ___ 135 (5) E-Mail: electronically transmitting the document or written notice to the Party’s e-mail address, if given below at line 53 or 54. If this is a consumer transaction where the property being purchased or the sale proceeds are used primarily for

CAUTION: Deadlines in the Offer are commonly calculated from acceptance. Consider whether short term deadlines running from acceptance provide adequate time for both binding acceptance and performance. 27 BINDING ACCEPTANCE This Offer is binding upon both Parties only if a copy of the accepted Offer is delivered to Buyer on REAL ESTATE SALES 28 or before _______________________________________________________________. Seller may keep the Property on the 29 market and accept secondary offers after binding acceptance of this Offer. 30 CAUTION: This Offer may be withdrawn prior to delivery of the accepted Offer. 31 OPTIONAL PROVISIONS TERMS OF THIS OFFER THAT ARE PRECEDED BY AN OPEN BOX (  ) ARE PART OF THIS Lines 34-54 Delivery of Documents and Written Notices 32 OFFER ONLY IF THE BOX IS MARKED SUCH AS WITH AN “X.” THEY ARE NOT PART OF THIS OFFER IF MARKED “N/A” 33 OR ARE LEFT BLANK. 34 DELIVERY OF DOCUMENTS AND WRITTEN NOTICES Unless otherwise stated in this Offer, delivery of documents and 35 written notices to a Party shall be effective only when accomplished by one of the methods specified at lines 36-54. 36 (1) Personal Delivery: giving the document or written notice personally to the Party, or the Party's recipient for delivery if 37 named at line 38 or 39. 38 Seller's recipient for delivery (optional): _______________________________________________________________________ 39 Buyer's recipient for delivery (optional): _______________________________________________________________________ 40 (2) Fax: fax transmission of the document or written notice to the following telephone number: 41 Seller: (________) ________________________________ Buyer: (_________) _______________________________ ______ 42 (3) Commercial Delivery: depositing the document or written notice fees prepaid or charged to an account with a 43 commercial delivery service, addressed either to the Party, or to the Party's recipient for delivery if named at line 38 or 39, for 44 delivery to the Party's delivery address at line 47 or 48. 45 (4) U.S. Mail: depositing the document or written notice postage prepaid in the U.S. Mail, addressed either to the Party, 46 or to the Party's recipient for delivery if named at line 38 or 39, for delivery to the Party's delivery address at line 47 or 48. 47 Delivery address for Seller: ________________________________________________________________________________ ___ 48 Delivery address for Buyer: ________________________________________________________________________________ ___ 49 (5) E-Mail: electronically transmitting the document or written notice to the Party’s e-mail address, if given below at line 50 53 or 54. If this is a consumer transaction where the property being purchased or the sale proceeds are used primarily for 51 personal, family or household purposes, each consumer providing an e-mail address below has first consented electronically 52 to the use of electronic documents, e-mail delivery and electronic signatures in the transaction, as required by federal law. 53 E-Mail address for Seller (optional): _______________________________________________________________________ 54 E-Mail address for Buyer (optional): _______________________________________________________________________ 55 PERSONAL DELIVERY/ACTUAL RECEIPT Personal delivery to, or Actual Receipt by, any named Buyer or Seller 56 constitutes personal delivery to, or Actual Receipt by, all Buyers or Sellers. The WB – 11 Residential Offer to Purchase provides a buyer with five options for delivery of documents 25 26

to a party. A buyer can select personal delivery, fax, commercial delivery, U.S. Mail, and e-mail. A buyer can choose more than one method of delivery and can designate another person for purposes of personal delivery, such as a licensee or an attorney, to receive documents on the buyer’s behalf. If a buyer chooses a recipient for personal delivery, the recipient must be an actual person and not a business entity such as a corporation or limited liability company. Personal delivery is always included as a method of delivery unless a buyer strikes this language from the offer. For purposes of establishing when delivery occurred, personal delivery occurs when the party delivering the notice or document personally gives it to the other party.

A buyer submits an offer to a seller that provides for personal delivery of documents and notices. The seller accepts the buyer’s offer and drives to the buyer’s house. The seller personally hands the accepted offer to the buyer, achieves delivery and binding acceptance, and turns the offer into a contract for sale. Up until the buyer had the offer, the buyer could have withdrawn it. If the seller left the accepted offer in the buyer’s mailbox, the seller does not achieve personal delivery until the buyer takes the offer from the mailbox. A party achieves fax delivery by transmitting the document or notice to the fax number provided in the offer even if the party does not receive the document or notice at that time. A party choosing fax as a method of delivery must provide a fax number. Faxing is a common method of conducting transactions. Delivery is achieved when a document is sent rather than when a party actually receives it. Licensees should make copies of fax confirmations showing the time, date, and number of faxed pages to prove when delivery occurred in case a party disputes the time or act of delivery. If faxing documents directly to a party, a licensee can fax an additional transmission to the party’s broker to confirm delivery. A seller accepts a buyer’s offer and returns the accepted offer to the listing broker. The listing broker faxes the accepted offer to the fax number provided by the buyer, which creates binding acceptance. It does not matter that the buyer does not receive the transmission at the time the seller faxed it. The offer to purchase became a contract for sale when the listing broker sent the fax and the buyer can no longer withdraw the offer.

136

■ PURCHASE PRICE: _________________________________________________________________________________ ____________________________________________________________ Dollars ($___________________________ ______). 10 ■ EARNEST MONEY of $ ____________________accompanies this Offer and earnest money of $ ____________________ Offers to Purchase 11 will be mailed, or commercially or personally delivered within ____________________ days of acceptance to listing broker or - 10 12 ________________________________________________________________________________________________ ______. 13 ■ THE BALANCE OF PURCHASE PRICE will be paid in cash or equivalent at closing unless otherwise provided below. 14 ■ INCLUDED IN PURCHASE PRICE: Seller is including in the purchase price the Property, all Fixtures on the Property on Parties can to excluded use a commercial delivery service for delivery of transaction documents. A party 15 the date of choose this Offer not at lines 17-18, and the following additional items: __________________________________ 16 ___________________________________________________________________________________________________ ____. must provide an address for receipt on lines 47-48. A party achieves commercial delivery by __ depositing 17 ■correctly NOT INCLUDED IN PURCHASE PRICE: ___________________________________________________________________ the addressed item at the commercial delivery service and pays or charges any applicable 18 _________________________________________________________________________________________________________. fees. Like fax delivery, when the party actually receives it does not define when delivery occurs. The 19 CAUTION: Identify Fixtures that are on the Property (see lines 185-193) to be excluded by Seller or which are rented act of sending it, not receiving it, achieves delivery. 20 and will continue to be owned by the lessor. 21 NOTE: The terms of this Offer, not the listing contract or marketing materials, determine what items are included/excluded. A22seller accepts a buyer’s offer and takes the accepted offer to a commercial delivery service. As soon ACCEPTANCE occurs all Buyers and Sellers have one delivery copy of theservice Offer, or separate but identical as23 the seller hasAcceptance deposited thewhen correctly addressed itemsigned at the and paid or charged 24 copies of the Offer. the fee, the seller achieved delivery and binding acceptance and the buyer can no longer withdraw the 25 CAUTION: Deadlines in the Offer are commonly calculated from acceptance. Consider whether short term deadlines offer. 26 running from acceptance provide adequate time for both binding acceptance and performance. 27 BINDING ACCEPTANCE This Offer is binding upon both Parties only if a copy of the accepted Offer is delivered to Buyer on 28 or before Seller may the Property on the Though not_______________________________________________________________. common, parties can elect U.S. Mail as a method of delivery. Thekeep party must provide an 29 market on and accept after binding acceptance of this Offer. address lines secondary 47-48. offers Delivery by U.S. Mail occurs when a party deposits a correctly addressed 30 CAUTION: This Offer may be withdrawn prior to delivery of the accepted Offer. notice or document with appropriate postage in the U.S. Mail. That can mean dropping the item in a 31 OPTIONAL PROVISIONS TERMS OF THIS OFFER THAT ARE PRECEDED BY AN OPEN BOX (  ) ARE PART OF THIS corner mailbox or sending it directly from a post office. 32 OFFER ONLY IF THE BOX IS MARKED SUCH AS WITH AN “X.” THEY ARE NOT PART OF THIS OFFER IF MARKED “N/A” 33 OR ARE LEFT BLANK. DELIVERY OF DOCUMENTS AND WRITTEN NOTICES Unless otherwise stated this Offer, delivery of the documents and and A34seller accepts a buyer’s offer and takes the accepted offer to theinpost office, pays postage, 35 written notices to a Party shall be effective only when accomplished by one of the methods specified at lines 36-54. hands it to the clerk. The seller achieved delivery and binding acceptance. The buyer can no longer 36 (1) Personal Delivery: giving the document or written notice personally to the Party, or the Party's recipient for delivery if withdraw the offer. 37 named at line 38 or 39. 38 Seller's recipient for delivery (optional): _______________________________________________________________________ Parties can alsoforchoose e-mail as a form of delivery. Both federal and state law govern electronic 39 Buyer's recipient delivery (optional): _______________________________________________________________________ 40 (2) Fax: fax transmission of the document written notice toof thenotices following telephone number: related to the transaccommerce. To participate in electronic or transmission and documents 41 Seller: (________) ________________________________ Buyer: (_________) _______________________________ ______ tion, the parties must electronically consent to participate in electronic commerce. Licensees working 42 (3) Commercial Delivery: depositing the document or written notice fees prepaid or charged to an account with a with buyers who would like to choose e-mail as a form of delivery can go to www.wra.org/ecommerce 43 commercial delivery service, addressed either to the Party, or to the Party's recipient for delivery if named at line 38 or 39, for for on how to achieve consent to e-mail transmission of real estate docu44 more deliveryinformation to the Party's delivery address at line 47 orelectronic 48. ments. 45 (4) U.S. Mail: depositing the document or written notice postage prepaid in the U.S. Mail, addressed either to the Party, 46 or to the Party's recipient for delivery if named at line 38 or 39, for delivery to the Party's delivery address at line 47 or 48. 47 Delivery address for Seller: ________________________________________________________________________________ ___ Parties can choose one or more methods of delivery by using a mark to include the optional provisions 48 Delivery address for Buyer: ________________________________________________________________________________ ___ in49the box preceding the method. If a party does not want to include a method of delivery, the party (5) E-Mail: electronically transmitting the document or written notice to the Party’s e-mail address, if given below at line could mark preceding the unwanted optionbeing with purchased “n/a” indicating option notprimarily applicable to 50 53 or 54. Ifthe this box is a consumer transaction where the property or the salethat proceeds are is used for the offer. family or household purposes, each consumer providing an e-mail address below has first consented electronically 51 personal, 52 to the use of electronic documents, e-mail delivery and electronic signatures in the transaction, as required by federal law. 53 E-Mail address for Seller (optional): _______________________________________________________________________ Lines 55-56 Personal Delivery and Actual Receipt 54 E-Mail address for Buyer (optional): _______________________________________________________________________ 55 PERSONAL DELIVERY/ACTUAL RECEIPT Personal delivery to, or Actual Receipt by, any named Buyer or Seller 56 constitutes personal delivery to, or Actual Receipt by, all Buyers or Sellers. 8 9

If an offer to purchase involves more than one buyer or more than one seller, when a party personally delivers a document or notice to one of the buyers or sellers, the party has delivered the document or notice to all of the buyers or sellers. A husband and a wife made an offer on a seller’s house. The seller can achieve delivery of the offer back to the parties by delivering it according to the terms of the contract to either the husband or the wife. The seller does not need to deliver it separately to both buyers. Similarly, if two or more sellers have listed a property, a buyer can submit a notice or document to one of the sellers and achieve delivery without having to submit it to all sellers.

137

REAL ESTATE SALES

Lines 57-60 Occupancy

Page 2 of 9, WB-11

OCCUPANCY Occupancy of the entire Property shall be given to Buyer at time of closing unless otherwise provided in this 58 Offer at lines 165-172 or 435-442 or in an addendum attached per line 434. At time of Buyer's occupancy, Property shall be in 59 broom swept condition and free of all debris and personal property except for personal property belonging to current tenants, 60 or that sold to Buyer or left with Buyer's consent. Occupancy shall be given subject to tenant's rights, if any. 61 DEFINITIONS ■ ACTUAL RECEIPT: Receipt” means that a Party,tonot Party’s for though delivery, ifthe any, parties has the document or A 62 seller usually gives“Actual occupancy of a property a the buyer atrecipient closing can agree to Page 2 of 9, WB-11 63 written notice physically in the Party’s possession, regardless of the method of delivery. other occupancy terms. The seller should leave the property broom swept and free of personal prop57 ■OCCUPANCY Occupancy of THE the entire PropertyOR shall be given to Buyer at time ofAffecting closing unless otherwise provided in this 64 AFFECTING PROPERTY “Conditions the Property or Transaction” are erty. IfCONDITIONS the property rental with TRANSACTION: tenants, takes occupancy subject toshall the be tenants’ 58 defined Offer atto lines 165-172isora435-442 orproperty in an addendum attached perthe linebuyer 434. At time of Buyer's occupancy, Property in 65 include: rights toDefects inhabit the property according topersonal the lease terms. 59 a. broom sweptincondition and free of all debris and property except for personal property belonging to current tenants, 66 the roof. 60 b. or that sold to or left with Buyer's consent. Occupancy shall be given subject to tenant's rights, if any. 67 Defects in Buyer the electrical system. Lines 62-63 Actual Receipt 61 c.DEFINITIONS 68 Defects in part of the plumbing system (including the water heater, water softener and swimming pool) that is included in 62 ■ ACTUAL 69 the sale.RECEIPT: “Actual Receipt” means that a Party, not the Party’s recipient for delivery, if any, has the document or 63 d. written noticeinphysically in and the Party’s possession, regardless of the delivery. 70 Defects the heating air conditioning system (including themethod air filtersofand humidifiers). 64 e. ■ CONDITIONS THE PROPERTY OR TRANSACTION: “Conditions Affecting the Property or Transaction” are 71 Defects in theAFFECTING well, including unsafe well water. The WB-11 Residential to Purchase defines certain terms used in the contract on pages 2 and 65 f.defined to include: 72 Property is served by aOffer joint well. a. Defects Defects in the thefor roof.“Actual g. in septic system or other sanitary 4. 7366The definition Receipt” is atdisposal lines system. 62-63. Two deadlines in the WB-11 Residential Offer b. Underground Defects in theor electrical system.fuel storage tanks on or previously located on the Property. (If "yes", the owner, by law, h. aboveground to 7467 Purchase run from a party’s actual receipt of a notice. Actual receipt means that the party has the 68 c. may Defects of thethe plumbingwith system (including the heater,atwater softener swimming pool) that is included in 75 haveintopart register the Department of water Commerce P.O. Box 7970,and Madison, Wisconsin, 53707, whether document or written noticetanks physically in the party’s possession regardless of the method of delivery the 69 the tanks sale. are in use or not. Regulations of the Department of Commerce may require the closure or removal of unused 76 the party chose in the offer to purchase. 70 d. Defects in the heating and air conditioning system (including the air filters and humidifiers). 77 tanks.) 71 i.e. “LP” Defects including unsafe welladditional water. information whether the tank is owned or leased). 78 tankinonthe thewell, Property (specify in the Lines 116-117 Closing 72 j.f. Defects Propertyinisthe served by a joint well. 79 basement or foundation (including cracks, seepage and bulges). Property Address: _________________________________________________________________________________________________________Page 3 of 9, WB-11 73 k. g. Property Defects in septic or other sanitary disposal system. 80 is the located in system a floodplain, wetland or shoreland zoning area. 116 CLOSING This transaction is to be closed no later than _______________________________________________________ 74 l.h. Defects Underground or aboveground fuel storage tanks on or previously located on the Property. (If "yes", the owner, by law, 81 in the structure of the Property. 117 ___________________________________ __ at the place selected by Seller, unless otherwise agreed by the Parties in writing. 75 m. Defects may have to register the tanks with the Department Commerce at P.O. 7970,property. Madison, Wisconsin, 53707, whether 82 in mechanical equipment included in the saleofeither as Fixtures or Box personal 118 CLOSING PRORATIONS The following items, if applicable, shall be prorated at closing, based upon date of closing values: 76 n. Boundary the tanks are in use or not. Regulations of the Department of Commerce may require the closure or to removal of unused the 83 or lot line disputes, encroachments or encumbrances (including a joint driveway). Buyers can negotiate the place of closing but, any modification the association contract, 119 real and estatesellers taxes, rents, prepaid insurance (if assumed), private andabsent municipal charges, property owners 77 o. Defect tanks.)caused by unsafe concentrations of, or unsafe conditions relating to, radon, radium in water supplies, lead in paint, 84 120 assessments, fuel and _________________________________________________________________________________. seller chooses the place of(specify closing. Aadditional buyer information puts a deadlinethefor closing on line 116. 78 i. “LP” in tank the in Property in the tank is owned or leased). 85 lead soil,onlead water supplies or plumbing system, or otherwhether potentially hazardous or toxic substances on the Property. 121 CAUTION: Provide basis for utility charges, fuel or other prorations if date of closing value will not be used. 79 j. DefectsSpecific in the basement foundation (including requirements cracks, seepage andbe bulges). 86 NOTE: federal or lead paint disclosure must complied with in the sale of most residential 122 Any income, or expenses shall accrue to Seller, and be prorated at closing, through the day prior to closing. 3 of 9, WB-11 Property Address:taxes Lines Closing 80 k. 118-139 Property is_________________________________________________________________________________________________________Page located in aProrations floodplain, wetland or shoreland zoning area. 87 properties built before 1978. 123 Real estate taxes shall be prorated atclosed closingnobased on [CHECK BOX FOR APPLICABLE PRORATION FORMULA]: 116 CLOSING This transaction is the to be later than _______________________________________________________ 81 l. Defects in the structure of Property. 88 p. Presence of asbestos or asbestos-containing materials on the Property. 124 The net general real estate taxes for the place preceding year, orSeller, the current if available general estate 117 ___________________________________ at the selected by unless year otherwise agreed(Net by the Partiesreal in writing. __ 82 q. m. Defect Defectscaused in mechanical equipment included the sale either asrelating Fixtures property. 89 by unsafe concentrations of,inunsafe conditions to,ororpersonal the storage of, hazardous or toxic substances 125 taxes are defined as general property taxes after state tax shall credits and lotteryatcredits arebased deducted) (NOTE: THIS CHOICE 118 CLOSING PRORATIONS The following items, if applicable, be prorated closing, upon date of closing values: 83 n. on Boundary or lotproperties. line disputes, encroachments or encumbrances (including a joint driveway). 90 neighboring 126 APPLIES IF NO rents, BOX ISprepaid CHECKED) 119 real estate caused taxes, insurance (iforassumed), private relating and municipal charges, owners association 84 r. o. Current Defect by unsafe concentrations conditions to, radon, radium inproperty water in insect paint, 91 or previous termite, powder-post of, beetleunsafe or carpenter ant infestations or Defects caused by supplies, animal orlead other 127 Current assessment times current mill rate (current means as of the date of closing) 120 assessments, fuel and _________________________________________________________________________________. 85 lead in soil, lead in water supplies or plumbing system, or other potentially hazardous or toxic substances on the Property. 92 infestations. 128 Sale price, basis multiplied by thecharges, municipality percent ofiffair market value value used by the in the prior 121 CAUTION: forlead utility fuel area-wide or other prorations date of closing willsale notassessor bemost used.residential 86 s. NOTE: Provide Specific federal paint must complied withorinfireplace the of 93 Defects in a wood burning stove or disclosure fireplace orrequirements Defects caused by be a fire in a stove or elsewhere on the 129 year, or current year if known, multiplied by current mill rate (current means as of the date of closing) 122 income, taxes or before expenses shall accrue to Seller, and be prorated at closing, through the day prior to closing. 87 AnyProperty. properties built 1978. 94 130 ________________________________________________________________________________________ 123 estate taxes shall be prorated at closing based on [CHECK BOX FOR APPLICABLE PRORATION FORMULA]: _____. 88 t.Real p. Remodeling Presence of affecting asbestos or asbestos-containing on the Property. 95 the Property's structurematerials or mechanical systems or additions to Property during Seller’s ownership 131 CAUTION:The Buyer is informed that the actual real estate taxes fororthe year of closing and subsequent years be 124 net general real estate taxes for the preceding year, theto, current year if available (Net or general realmay estate 89 q. without Defect caused unsafe concentrations of, unsafe conditions relating or the storage of, hazardous toxic substances 96 requiredby permits. 132 substantially different theproperty amounttaxes used forstate proration especially in transactions involving new THIS construction, 125 taxes are defined as than general after tax credits and lottery credits are deducted) (NOTE: CHOICE 90 on neighboring properties. 97 u. Federal, state, or local regulations requiring repairs, alterations or corrections of an existing condition. 133 extensive rehabilitation, remodeling or area-wide re-assessment. Buyer is encouraged to contact the local assessor 126 APPLIES IFprevious NO BOXtermite, IS CHECKED) 91 v. r. Notice Currentoforproperty powder-post or annual carpenter ant infestations or Defects by animal or other insect 98 tax increases, other thanbeetle normal increases, or pending propertycaused reassessment. 134 regardingCurrent possible tax changes. 127 assessment times current rate (current means as of the date of closing) 92 w. Remodeling infestations. that may increase Property'smill 99 assessed value. 135 Buyer and Seller agreebytothe re-prorate the real estate taxes, through the day prior to closing upon the on 128 Sale multiplied municipality area-wide market by based the assessor in taxes the 93 x. s. Proposed Defects inorprice, apending wood burning or fireplace or Defects percent caused of byfair a fire in a value stove used or fireplace or elsewhere onprior the 100 special stove assessments. 136 the actual tax bill for the year of closing, with Buyer and Seller each owing his or her pro-rata share. Buyer shall, within 5 129 year, or current year if known, multiplied by current mill rate (current means as of the date of closing) 94 y. Property Property. 101 is located within a special purpose district, such as a drainage district, that has the authority to impose 137 days of________________________________________________________________________________________ receipt, forward a copy of the bill to the forwarding address Seller agrees to provide at closing. The Parties__shall 130 ___. 95 t. assessments Remodeling affecting thereal Property's or mechanical systems or additions to Property during Seller’s ownership 102 against the propertystructure located within the district. 138 re-prorate withinis30 days of that Buyer’s theestate actualtaxes tax bill. and of Seller agreeand thissubsequent is a post-closing 131 CAUTION: informed the receipt actual of real forBuyer the year closing yearsobligation may be 96 z. without Buyer required permits. 103 Proposed construction of a public project that may affect the use of the Property. 139 and is the responsibility of the Parties to complete, not the responsibility of the real estate brokers in this transaction. 132 substantially different than the amount used for proration especially in transactions involving new construction, 97 u. Federal, state, or local regulations requiring repairs, alterations or corrections of an existing condition. 104 aa. Subdivision homeowners' associations, common areas co-owned with others, zoning violations or nonconforming uses, 140 LEASED PROPERTY If Property is currently leasedre-assessment. and lease(s) extend beyond closing, Seller shall assign Seller's rights 133 remodeling or area-wide Buyer is encouraged to contact the local assessor 98 extensive v. rights-of-way, Notice rehabilitation, of property tax increases, other than increases, or pending property reassessment. 105 easements or another use of anormal part ofannual the Property by non-owners, other than recorded utility easements. 141 under said possible lease(s) and transfer all security deposits and prepaid rents thereunder to Buyer at closing. The terms of the 134 regarding tax changes. 99 bb. w. Structure Remodeling thatProperty may increase Property's 106 on the is designated asassessed an historicvalue. building or part of the Property is in an historic district. 142 (written) (oral) STRIKE ONEagree lease(s), if any, arethe _____________________________________________________________ 135 Buyer Seller to re-prorate real estate taxes, through the day prior to closing based upon the taxes on 100 cc. x. Any Proposed orand pending special 107 land division involving theassessments. Property for which required state or local permits had not been obtained. 143 _____________________. Insert terms, if any,and at lines 165-172 or 435-442 as an addendum shall, per line 434.5 136 the actual is bill for the yearaadditional ofspecial closing,purpose with Buyer Seller each his district, or or herattach pro-rata share. 101 dd. y. Violation Property located within district, such laws. as a owing drainage that has the Buyer authority to within impose 108 oftax state or local smoke and carbon monoxide detector 144 RENTAL WEATHERIZATION Thisoftransaction (is)forwarding (is not) STRIKE ONE exempt from Wisconsin RentalThe Weatherization 137 days of receipt, forward a copy the bill to the address Seller agrees to provide at closing. Parties shall 102 ee. High assessments against (100 the real located within the district. 109 voltage electric KVproperty or greater) or steel natural gas transmission lines located on but not directly serving the 145 Standards (Wis. Admin. Ch.Buyer’s Comm receipt 67). If not the exempt, (Seller) STRIKE ONE (“Buyer” is stricken) shall 138 re-prorate 30 Code days actual(Buyer) taxuse bill.of Buyer and Seller agree this isifaneither post-closing obligation 103 z. Property. Proposed within construction of aofpublic project thatofmay affect the the Property. 110 146 be responsible for compliance, including all costs, with Wisconsin Rental Weatherization Standards. If Seller is responsible for 139 and is the responsibility of the Parties to complete, not theco-owned responsibility the real estateviolations brokers in transaction. uses, 104 ff. aa. The Subdivision common areas with of others, zoning orthis nonconforming 111 Propertyhomeowners' is subject to aassociations, mitigation plan required by Wisconsin Department of Natural Resources (DNR) rules related 147 compliance, Seller shall provide a Certificate of Compliance at closing. 140 LEASED PROPERTY If Property is currently leased and lease(s) extend beyond closing, Seller shall assign Seller's rights 105 rights-of-way, easements or another use of a part of the the Property than recorded utility easements. 112 to county shoreland zoning ordinances that obligates ownerbytonon-owners, establish orother maintain certain measures related to 148 REAL said ESTATE CONDITION REPORT Wisconsin lawand requires owners of propertytowhich includes 1-4 The dwelling to 141 lease(s) transfer all security deposits prepaid rentsofthereunder at closing. termsunits of the 106 under bb. shoreland Structure on the and Property is designated an historic building or part the Property isBuyer in an historic district. 113 conditions, enforceable by theas county. 149 provide Buyers with a Real Estate Condition Report. Excluded from this requirement are sales of property that has never been 142 (written) STRIKEinvolving ONE lease(s), if any,for arewhich _____________________________________________________________ 107 gg. cc. Other Any (oral) land division Property required state or local permits had not been obtained. 114 Defects affecting the the Property. 150 inhabited, sales exempt from theadditional real estate transfer and 165-172 sales byorcertain court-appointed example, 143 Insert terms, if any,fee, at lines 435-442 or attach as anfiduciaries, addendum (for per line 434. 108 _____________________. dd. Violation Continued of state or local smoke 115 (Definitions on page 4)and carbon monoxide detector laws. 151 personal representatives who have never occupied(is) the(isProperty). The form ofexempt the Report is Wisconsin found in Wis. Stat.Weatherization § 709.03. The 144 RENTAL WEATHERIZATION This transaction not) STRIKE ONE from Rental 109 ee. High voltage electric (100 KV or greater) or steel natural gas transmission lines located on but not directly serving the 152 law provides: "§ 709.02 . . . the67). owner of exempt, the property shall(Seller) furnish, not later than(“Buyer” 10 daysif neither after acceptance the 145 (Wis. Admin. Disclosure Code Ch. Comm If not (Buyer) STRIKE ONE is stricken)ofshall 110 Standards Property. 153 contract of sale for . . .,compliance, to the prospective Buyer of thewith property a completed copy of the report . . . A prospective Buyer who does 146 be responsible including all costs, Wisconsin Rental Weatherization Standards. If Seller is responsible for 111 ff. The Property is subject to a mitigation plan required by Wisconsin Department of Natural Resources (DNR) rules related 138 154 not receive a Seller reportshall within the 10adays may, within 2 business days after the end of that 10 day period, rescind the contract of 147 compliance, provide Certificate of Compliance at closing. 112 to county shoreland zoning ordinances that obligates the owner to establish or maintain certain measures related to 155 sale . . . ESTATE by delivering a written notice of rescission to the owner or the owner's agent." Buyer may also have certain rescission 148 CONDITION REPORT Wisconsin 113 REAL shoreland conditions, enforceable by the county. law requires owners of property which includes 1-4 dwelling units to 156 rights if a Real Estate Condition Report disclosing defects is furnished expiration of theof10 days, but Offer is 149 Buyers withaffecting a Real Estate Condition Report. Excluded from this before requirement are sales property thatafter has the never been 114 provide gg. Other Defects the Property. 57

Offers to Purchase - 10

At closing, buyers and sellers prorate certain expenses and credits associated with the property. Prorations include property taxes, rents, prepaid insurance, and utility charges. Sellers are responsible for costs and entitled to credits through the day prior to closing. Buyers are responsible for and entitled to credits from the day of closing forward. The actual proration occurs at closing and prorated amounts appear on the closing statement. Buyers and sellers can modify this arrangement by modifying the terms of the contract. Licensees must know how to prorate taxes for the state licensing exam and to ensure closing statements correctly reflect the parties’ responsibility for taxes. The WB-11 provides buyers with four options for choosing how to prorate taxes with a seller. The first option permits a buyer to prorate taxes based on the net general real estate taxes from the preceding year or the current year if the buyer has the tax bill for the current year. Buyers generally use this formula for existing property that has not undergone any revisions or reassessments. The second option permits a buyer to prorate taxes according to the property’s current assessment multiplied by the property’s current mill rate. A buyer might choose this option if the tax assessor has recently reassessed the property and the preceding year’s taxes will not accurately reflect the current year’s tax obligation. The third option permits a buyer to prorate taxes according to the percent of the property’s fair market value used by the tax assessor in the prior year or the current year if the buyer knows the current year’s rate. A buyer might choose this option if the property is new construction or a significantly remodeled property and the assessor calculated the previous year’s taxes based on the property as vacant land or the prior existing structure. The fourth option permits a buyer to substitute a formula of the buyer’s choice. A buyer selects one of the four options. The final optional provision in this section permits a buyer to choose to reprorate taxes after closing and after the buyer receives the actual tax bill for the year. A licensee is not responsible for the parties’ choice to reprorate taxes. When a seller sells a property without knowing the current year’s tax bill, the parties can prorate the taxes based on the previous year’s tax bill and divide the expense between the buyer and seller. If a buyer purchases a property after January 1, the buyer is not responsible for the year’s total tax bill. Proration of taxes or other fees allows each party to pay for the time that the party actually owned the property. How to Prorate Property Taxes (using lines 124-126) A property is closing on June 30. The sellers do not know what the current year’s tax bill will be. The parties prorate based on last year’s tax bill, which was $5,000. 1. Calculate a daily tax rate for the property. $5,000 / 365 days in a year = $13.6986 per day Extend the number to 4 decimal places. 2. Calculate the number of calendar days prior to closing.  here are 180 days from January 1 to June 29 T Seller expenses are prorated through the day prior to closing. 3. Multiply the number of days by the daily tax rate to determine the seller’s responsibility. $13.6986 x 180 days = $2,465.75 The sellers give $2,465.75 to the buyers at closing. At the end of the year, the buyers pay the entire tax bill.

139

131 CAUTION: Buyer is informed that the actual real estate taxes for the year of closing and subsequent years may be 122 Any income, taxes or expenses shall accrue to Seller, and be prorated at closing, through the day prior to closing. 132 substantially different than the amount used for proration especially in transactions involving new construction, 123 Real estate taxes shall be prorated at closing based on [CHECK BOX FOR APPLICABLE PRORATION FORMULA]: 133 extensive rehabilitation, remodeling or area-wide re-assessment. Buyer is encouraged to contact the local assessor 124 The net general real estate taxes for the preceding year, or the current year if available (Net general real estate 134 regarding possible tax changes. REAL ESTATE SALES 125 taxes are defined as general property taxes after state tax credits and lottery credits are deducted) (NOTE: THIS CHOICE 135 Buyer andBOX SellerISagree to re-prorate the real estate taxes, through the day prior to closing based upon the taxes on 126 APPLIES IF NO CHECKED) 136 the actual tax bill for the year of current closing,mill withrate Buyer and Seller his of orclosing) her pro-rata share. Buyer shall, within 5 127 Current assessment times (current meanseach as ofowing the date 137 days of receipt, forward a copy of the bill to the forwarding address Seller agrees to provide at closing. The Parties shall 128 Sale price, multiplied by the municipality area-wide percent of fair market value used by the assessor in the prior 138 re-prorate within 30 days of Buyer’s receipt of the actual tax bill. Buyer and Seller agree this is a post-closing obligation 129 year, or current year if known, multiplied by current mill rate (current means as of the date of closing) 139 and is________________________________________________________________________________________ the _________________________________________________________________________________________________________Page responsibility of the Parties to complete, not the responsibility of the real estate brokers in this transaction. 3 of 9,__ WB-11 130 Property Address: ___. 140 LEASED PROPERTY If Property is currently leased and lease(s) extend beyond closing, Seller shall assign Seller's rights 131 is informed the actual realthan estate taxes for the year of closing and subsequent years may be 116 CAUTION: CLOSING Buyer This transaction is tothat be closed no later _______________________________________________________ 141 under said lease(s) and transfer all security deposits and prepaid rents thereunder to Buyer at closing. The terms of the 132 different than the amount__used proration in transactions involving new construction, 117 substantially ___________________________________ at thefor place selectedespecially by Seller, unless otherwise agreed by the Parties in writing. 142 (written) (oral) STRIKE ONE lease(s), if any, are _____________________________________________________________ 133 or items, area-wide re-assessment. Buyer isatencouraged to contact theoflocal assessor 118 extensive CLOSINGrehabilitation, PRORATIONSremodeling The following if applicable, shall be prorated closing, based upon date closing values: 143 _____________________. Insert additional terms, if any, at lines 165-172 or 435-442 or attach as an addendum per line 434. 134 tax changes. 119 regarding real estatepossible taxes, rents, prepaid insurance (if assumed), private and municipal charges, property owners association 144 RENTAL WEATHERIZATION This transaction (is) (is not) STRIKE ONE exempt from Wisconsin Rental Weatherization 135 Buyerfuel andand Seller agree to re-prorate the real estate taxes, through the day prior to closing based upon the taxes on 120 assessments, _________________________________________________________________________________. 145 Standards (Wis. Admin. Code Ch. Comm 67). If not exempt, (Buyer) (Seller) STRIKE ONE (“Buyer” if neither is stricken) shall 136 the actual tax billbasis for theforyear of closing, with Buyer and Seller each if owing or her pro-rata share. shall, within 5 121 CAUTION: Provide utility charges, fuel or other prorations datehis of closing value will notBuyer be used. 146 be responsible for compliance, including all costs, with Wisconsin Rental Weatherization Standards. If Seller is responsible for 137 of receipt, a copy the billtotoSeller, the forwarding addressatSeller agrees to provide closing. The Parties shall 122 Anydays income, taxes orforward expenses shallofaccrue and be prorated closing, through the day at prior to closing. 147 compliance, Seller shall provide a Certificate of Compliance at closing. 138 re-prorate within 30be days of Buyer’s receipt of the taxBOX bill. Buyer and Seller agree this is a post-closing 123 Real estate taxes shall prorated at closing based on actual [CHECK FOR APPLICABLE PRORATION FORMULA]:obligation 148 REAL ESTATE CONDITION REPORT Wisconsin law requires owners of property which includes 1-4 dwelling units to 139 and is The the responsibility of the Parties to complete, not the responsibility the real estate brokers in thisgeneral transaction. 124 net general real estate taxes for the preceding year, or the ofcurrent year if available (Net real estate 149 provide Buyers with a Real Estate Condition Report. Excluded from this requirement are sales of property that has never been 140 PROPERTY Property is currently and tax lease(s) beyond closing, Seller shall(NOTE: assign THIS Seller's rights 125 LEASED taxes are defined asIfgeneral property taxesleased after state creditsextend and lottery credits are deducted) CHOICE 150 inhabited, sales exempt from the real estate transfer fee, and sales by certain court-appointed fiduciaries, (for example, 141 said lease(s) and transfer all security deposits and prepaid rents thereunder to Buyer at closing. The terms of the 126 under APPLIES IF NO BOX IS CHECKED) 151 personal representatives who have never occupied the Property). The form of the Report is found in Wis. Stat. § 709.03. The 142 STRIKE ONE lease(s), if any, mill are rate _____________________________________________________________ 127 (written) (oral) Current assessment times current (current means as of the date of closing) 152 law provides: "§ 709.02 Disclosure . . . the owner of the property shall furnish, not later than 10 days after acceptance of the 143 Insertbyadditional terms, if area-wide any, at lines 165-172 or 435-442 attach as by an the addendum perinline 128 _____________________. Sale price, multiplied the municipality percent of fair market or value used assessor the434. prior 153 contract of sale . . ., to the prospective Buyer of the property a completed copy of the report . . . A prospective Buyer who does 144 This transaction (is) (ismillnot) exempt from Wisconsin 129 RENTAL year, orWEATHERIZATION current year if known, multiplied by current rateSTRIKE (current ONE means as of the date of closing)Rental Weatherization 154 not receive a report within the 10 days may, within 2 business days after the end of that 10 day period, rescind the contract of 145 (Wis. Admin. Code Ch. Comm 67). If not exempt, (Buyer) (Seller) STRIKE ONE (“Buyer” if neither is stricken)__ shall 130 Standards ________________________________________________________________________________________ ___. 155 sale . . . by delivering a written notice of rescission to the owner or the owner's agent." Buyer may also have certain rescission 146 responsible for compliance, costs,real withestate Wisconsin Weatherization Standards. If Seller is responsible 131 be CAUTION: Buyer is informedincluding that the all actual taxesRental for the year of closing and subsequent years may for be 156 rights if a Real Estate Condition Report disclosing defects is furnished before expiration of the 10 days, but after the Offer is 147 Seller shall provide a Certificate of Compliance at closing. 132 compliance, substantially different than the amount used for proration especially in transactions involving new construction, 157 submitted to Seller. Buyer should review the report form or consult with an attorney for additional information regarding 148 REAL ESTATE CONDITION REPORTor Wisconsin requires owners of is property which to includes units to 133 extensive rehabilitation, remodeling area-wide law re-assessment. Buyer encouraged contact1-4 thedwelling local assessor 158 rescission rights. 149 Buyers with atax Real Estate Condition Report. Excluded from this requirement are sales of property that has never been 134 provide regarding possible changes. 159 PROPERTY CONDITION REPRESENTATIONS Seller represents to Buyer that as of the date of acceptance Seller has no 150 sales and exempt from thetoreal estate the transfer fee, and sales by certain court-appointed 135 inhabited, Buyer Seller agree re-prorate real estate taxes, through the day prior to closingfiduciaries, based upon(for theexample, taxes on 160 notice or knowledge of Conditions Affecting the Property or Transaction (lines 64-114) other than those identified in Seller's 151 representatives whoyear haveofnever occupied the Property). form of the is found in Wis. Buyer Stat. §shall, 709.03. The5 136 personal the actual tax bill for the closing, with Buyer and SellerThe each owing hisReport or her pro-rata share. within 161 Real Estate Condition Report dated ____________________________________, which was received by Buyer prior to Buyer 152 "§ 709.02 Disclosure thebill owner of forwarding the propertyaddress shall furnish, latertothan 10 days after acceptance the 137 law provides: days of receipt, forward a copy .of. .the to the Seller not agrees provide at closing. The Partiesofshall 162 signing this Offer and which is made a part of this Offer by reference COMPLETE DATE OR STRIKE AS APPLICABLE and 153 of salewithin . . ., to30thedays prospective Buyer of the copyand of the report . . . this A prospective Buyer who does 138 contract re-prorate of Buyer’s receipt of property the actuala completed tax bill. Buyer Seller agree is a post-closing obligation 163 ____________________________________________________________________________________________________ 154 a report within the may, 2 business days after theofend thatestate 10 day period,inrescind the contract of 139 not receive and is the responsibility of 10 thedays Parties to within complete, not the responsibility theofreal brokers this transaction. 164 _________________________________ INSERT CONDITIONS NOT ALREADY INCLUDED IN THE CONDITION REPORT 155 . . . byPROPERTY delivering a written notice rescission to the owner or the owner's agent." Buyer Seller may also have certain rescission 140 sale LEASED If Property is of currently leased and lease(s) extend beyond closing, shall assign Seller's rights _____ 165 ADDITIONAL PROVISIONS/CONTINGENCIES _________________________________________________________ 156 a Real Estateand Condition disclosing defects furnished before expiration the 10 but The afterterms the Offer is 141 rights under ifsaid lease(s) transferReport all security deposits andisprepaid rents thereunder to ofBuyer at days, closing. of the 166 ____________________________________________________________________________________________________ 157 to Seller. Buyer review form or consult with an attorney for additional information regarding 142 submitted (written) (oral) STRIKE ONEshould lease(s), if any,the arereport _____________________________________________________________ 167 ____________________________________________________________________________________________________ 158 rights. 143 rescission _____________________. Insert additional terms, if any, at lines 165-172 or 435-442 or attach as an addendum per line 434. 168 ____________________________________________________________________________________________________ 159 CONDITION REPRESENTATIONS Seller to Buyer as offrom the Wisconsin date of acceptance Seller has no 144 PROPERTY RENTAL WEATHERIZATION This transaction (is) (is represents not) STRIKE ONE that exempt Rental Weatherization 169 ____________________________________________________________________________________________________ 160 or knowledge of Conditions Affecting Property or Transaction (lines 64-114) other than those identified in Seller's 145 notice Standards (Wis. Admin. Code Ch. Comm 67).the If not exempt, (Buyer) (Seller) STRIKE ONE (“Buyer” if neither is stricken) shall 170 ____________________________________________________________________________________________________ 161 Estate Condition Report dated ____________________________________, which was received by Buyer prior to Buyer 146 Real be responsible for compliance, including all costs, with Wisconsin Rental Weatherization Standards. If Seller is responsible for 171 ____________________________________________________________________________________________________ 162 this Offer which is made a part ofofthis Offer by reference 147 signing compliance, Sellerand shall provide a Certificate Compliance at closing.COMPLETE DATE OR STRIKE AS APPLICABLE and 172 ____________________________________________________________________________________________________ 163 148 ____________________________________________________________________________________________________ REAL ESTATE CONDITION REPORT Wisconsin law requires owners of property which includes 1-4 dwelling units to

Lines 140-143 Leased Property

Buyers who are purchasing leased property have additional considerations when making an offer. When a buyer purchases a leased property, the seller transfers all security deposits and prepaid rents to the buyer and the buyer assumes the terms of the lease unless otherwise agreed to by the parties. A buyer can include the lease provisions in this section or include them as an addendum or in the lines provided for additional provisions. Lines 144-147 Rental Weatherization

Wisconsin requires minimum weatherization and energy efficiency standards for rental properties. Generally, properties that the buyer will not occupy within 60 days of closing must comply with the standards. Licensees should not advise sellers and buyers about whether a property must comply with rental weatherization requirements. Buyers and sellers with questions about compliance can contact the municipality or the state agency charged with enforcing the standards. If the property is not exempt and the buyer does not assign responsibility, the buyer is responsible for demonstrating compliance with the rental weatherization requirements. If the buyer assigns responsibility to the seller, the seller can comply with the obligations by furnishing the property’s Certificate of Compliance at closing. Once a property receives a Certificate of Compliance, the Certificate remains with the property and subsequent owners will not need to obtain additional Certificates of Compliance. Lines 148-158 Real Estate Condition Report

_________________________________ INSERT CONDITIONS NOT INCLUDED THE CONDITION REPORT provide Buyers with a Real Estate Condition Report. Excluded from thisALREADY requirement are sales IN of property that has never been _____ ADDITIONAL PROVISIONS/CONTINGENCIES _________________________________________________________ inhabited, sales exempt from the real estate transfer fee, and sales by certain court-appointed fiduciaries, (for example, 166 151 ____________________________________________________________________________________________________ personal representatives who have never occupied the Property). The form of the Report is found in Wis. Stat. § 709.03. The 167 152 ____________________________________________________________________________________________________ law provides: "§ 709.02 Disclosure . . . the owner of the property shall furnish, not later than 10 days after acceptance of the 168 153 ____________________________________________________________________________________________________ contract of sale . . ., to the prospective Buyer of the property a completed copy of the report . . . A prospective Buyer who does 169 154 ____________________________________________________________________________________________________ not receive a report within the 10 days may, within 2 business days after the end of that 10 day period, rescind the contract of 170 155 ____________________________________________________________________________________________________ sale . . . by delivering a written notice of rescission to the owner or the owner's agent." Buyer may also have certain rescission 171 156 ____________________________________________________________________________________________________ rights if a Real Estate Condition Report disclosing defects is furnished before expiration of the 10 days, but after the Offer is 172 157 ____________________________________________________________________________________________________ submitted to Seller. Buyer should review the report form or consult with an attorney for additional information regarding 158 rescission rights. 159 PROPERTY CONDITION REPRESENTATIONS Seller represents to Buyer that as of the date of acceptance Seller has no Sellers of vacant land and property including 1-4 dwelling units must complete a real estate condition 160 notice or knowledge of Conditions Affecting the Property or Transaction (lines 64-114) other than those identified in Seller's report. The real estate condition report is a seller’s opportunity to disclose known defects or other 161 Real Estate Condition Report dated ____________________________________, which was received by Buyer prior to Buyer conditions affecting the property. Sellers of properties that have never been inhabited or that are 162 signing this Offer and which is made a part of this Offer by reference COMPLETE DATE OR STRIKE AS APPLICABLE and exempt from the real estate transfer fee do not have to complete real estate condition reports for those 163 ____________________________________________________________________________________________________ 164 _________________________________ INSERT CONDITIONS ALREADY INCLUDED representative IN THE CONDITIONof REPORT properties. If a seller is a court appointed fiduciary, NOT such as a personal an estate, _____ 165 ADDITIONAL PROVISIONS/CONTINGENCIES _________________________________________________________ and the seller has never occupied the property, the seller does not have to complete a real estate 166 ____________________________________________________________________________________________________ condition report. A seller must provide a buyer with a real estate condition report no later than 10 days 167 ____________________________________________________________________________________________________ after accepting the buyer’s offer. If the seller does not provide the condition report to the buyer by the 168 ____________________________________________________________________________________________________ deadline, the buyer has two business days from the 10-day deadline to rescind the offer. To rescind an 169 ____________________________________________________________________________________________________ 170 ____________________________________________________________________________________________________ offer, a buyer delivers written notice of rescission to the seller or the seller’s agent. If a seller provides 171 ____________________________________________________________________________________________________ a real estate condition report within the 10-day deadline, but the condition report discloses defects, a 172 ____________________________________________________________________________________________________ 164 149 165 150

buyer may have rescission rights and should consult an attorney.

140

provide Buyers with a Real Estate Condition Report. Excluded from this requirement are sales of property that has never been inhabited, sales exempt from the real estate transfer fee, and sales by certain court-appointed fiduciaries, (for example, 151 personal representatives who have never occupied the Property). The form of the Report is found in Wis. Stat. § 709.03. The 152 law provides: "§ 709.02 Disclosure . . . the owner of the property shall furnish, not later than 10 days Offers after acceptance of the - 10 to Purchase 153 contract of sale . . ., to the prospective Buyer of the property a completed copy of the report . . . A prospective Buyer who does 154 not receive a report within the 10 days may, within 2 business days after the end of that 10 day period, rescind the contract of 155 sale . . . by delivering a written notice of rescission to the owner or the owner's agent." Buyer may also have certain rescission 156 rights if a Real Estate Condition Report disclosing defects is furnished before expiration of the 10 days, but after the Offer is Lines 159-164 Property Condition Representations 157 submitted to Seller. Buyer should review the report form or consult with an attorney for additional information regarding 158 rescission rights. 159 PROPERTY CONDITION REPRESENTATIONS Seller represents to Buyer that as of the date of acceptance Seller has no 160 notice or knowledge of Conditions Affecting the Property or Transaction (lines 64-114) other than those identified in Seller's 161 Real Estate Condition Report dated ____________________________________, which was received by Buyer prior to Buyer 162 signing this Offer and which is made a part of this Offer by reference COMPLETE DATE OR STRIKE AS APPLICABLE and 163 ____________________________________________________________________________________________________ 164 _________________________________ INSERT CONDITIONS NOT ALREADY INCLUDED IN THE CONDITION REPORT _____ 165 ADDITIONAL PROVISIONS/CONTINGENCIES _________________________________________________________ A 166 seller represents that, as of the date of the accepted offer, the seller has no knowledge or notice of ____________________________________________________________________________________________________ 167 ____________________________________________________________________________________________________ “Conditions Affecting the Property or Transaction” other than those identified by the seller in the seller’s 168 ____________________________________________________________________________________________________ condition report and any additional conditions listed on lines 163-164. Lines 64-114 of the WB-11 169 ____________________________________________________________________________________________________ define “Conditions Affecting the Property or Transaction.” 170 ____________________________________________________________________________________________________ 171 ____________________________________________________________________________________________________ Page 4 of 9, WB-11 Lines 174-181 Deadlines 172 ____________________________________________________________________________________________________ 173 DEFINITIONS CONTINUED FROM PAGE 2 174 ■ DEADLINES: “Deadlines” expressed as a number of “days” from an event, such as acceptance, are calculated by excluding 175 the day the event occurred and by counting subsequent calendar days. The deadline expires at midnight on the last day. 176 Deadlines expressed as a specific number of “business days” exclude Saturdays, Sundays, any legal public holiday under 177 Wisconsin or Federal law, and any other day designated by the President such that the postal service does not receive 178 registered mail or make regular deliveries on that day. Deadlines expressed as a specific number of “hours” from the 179 occurrence of an event, such as receipt of a notice, are calculated from the exact time of the event, and by counting 24 hours 180 per calendar day. Deadlines expressed as a specific day of the calendar year or as the day of a specific event, such as 181 closing, expire at midnight of that day. 182 ■ DEFECT: “Defect” means a condition that would have a significant adverse effect on the value of the Property; that would 183 significantly impair the health or safety of future occupants of a theterm Property; or that if not repaired, the removed wouldand Parties calculating days to establish a deadline for of the offer exclude dayorofreplaced the event 184 significantly shorten or adversely affect the expected normal life of the premises. begin counting subsequent days. Business days exclude Saturdays, Sundays, legal holidays under 185 ■ FIXTURE: A “Fixture” is an item of property which is physically attached to or so closely associated with land or state and federal law, and days that the postal services does not receive registered mail or make regu186 improvements so as to be treated as part of the real estate, including, without limitation, physically attached items not easily lar187deliveries. Deadlines asitems daysspecifically include adapted all calendar days and at midnight removable without damage expressed to the premises, to the premises and expire items customarily treatedon as the Page 4 of 9, WB-11 specified day. Hour deadlines run from the exact time of an event and run 24 hours per calendar day. 188 fixtures, including, but not limited to, all: garden bulbs; plants; shrubs and trees; screen and storm doors and windows; electric 173 DEFINITIONS CONTINUED FROM PAGE 2 189 lighting fixtures; window shades; curtain and traverse rods; blinds and shutters; central heating and cooling units and attached ■equipment; DEADLINES: “Deadlines” of “days” an event, such acceptance, are by excluding 190 water heaters and systems; sump pumps; attached orasfitted floor coverings; awnings; attached A174 seller accepts an offerexpressed on treatment Julyas 1a number and the offerfrom contains a contingency thatcalculated must be met within 175 day thegarage event occurred and and by counting subsequent calendar days. The deadline midnight onaccessories; the last day.in191the antennas; door openers remote controls; installed security systems; central expires vacuumatsystems and five days of acceptance. Because July 1 is the day of the event that triggered the deadline, a party 176 expressed as a specific number ofparts; “business exclude ceiling Saturdays, any legalbuildings public holiday under 192Deadlines ground sprinkler systems and component built-indays” appliances; fans;Sundays, fences; storage on permanent excludes it and begins counting with July 2 being Day 1 of the deadline. July 6 is Day 5 of the deadline 177 orand Federal law, and other day designated by the President such that the postal service does not receive 193Wisconsin foundations docks/piers on any permanent foundations. so178 the buyermail must satisfy the deliveries contingency on July registered or make on thatby day. Deadlines expressed as a specific number of “hours” from water the 194 CAUTION: Exclude anyregular Fixtures to be retained bymidnight Seller or which are 6. rented (e.g., water softener or other 179 of an event, such asentertainment receipt of a notice, calculated from the exact L.P. time tanks, of the event, and by counting 195occurrence conditioning systems, home and are satellite dish components, etc.) on lines 17-18. 24 hours 180 calendar day. Deadlines expressed a specificmeans day ofthethe calendar year or asatthe of a specific event, such as 196per ■ PROPERTY: Unless otherwise stated,as“Property” real estate described linesday 4-7. Lines 182-184 Defects 181 expire at midnight of that day.SURVEYS Buyer acknowledges that any land, building or room dimensions, or total 197closing, PROPERTY DIMENSIONS AND 182 DEFECT: condition that would havetoa Buyer significant adverse on the value Property; that wouldof 198■acreage or “Defect” building means square afootage figures, provided by Seller or effect by a broker, may of be the approximate because 183 impair the health or safety of future occupants of survey the Property; that if not repaired, removed or replaced would 199significantly rounding, formulas used or other reasons, unless verified by or otherormeans. 184 or adversely expected normal life of the premises. 200significantly CAUTION: shorten Buyer should verifyaffect totalthe square footage formula, total square footage/acreage figures, and land, building 185 A “Fixture” is an item of property which is physically attached to or so closely associated with land or 201■orFIXTURE: room dimensions, if material. 186 so as to be treated as part of the Within real estate, including, without limitation, physically items by notSeller easilyor 202improvements BUYER’S PRE-CLOSING WALK-THROUGH 3 days prior to closing, at a reasonable timeattached pre-approved Sellers mustwithout disclose a property’s defects and buyers can include contingencies in an offer to inspect 187 damage to the items specifically adapted the premises and has items customarily treated as 203removable Seller's agent, Buyer shall have thepremises, right to walk through the Property to to determine that there been no significant change or188 test forcondition defects. Licensees should provide opinions tochanges sellers or buyers about which including, notProperty, limited to,except all: garden bulbs; plants; shrubs screen and storm and windows; electric 204fixtures, in the ofbut the for not ordinary wear and tearand andtrees; approved by doors Buyer, and that anyconditions defects are but can the parties tointhe definition found at Parties. lines letunits the and parties decide 189 lighting fixtures; window shades; curtain and traverse rods; blinds and central182-184 heating andand cooling attached 205defects Seller has agreed to direct cure have been repaired the manner agreed toshutters; by the 190 equipment; water heaters and treatment systems; sump pumps; attached or fitted floor coverings; awnings; attached 206 PROPERTY DAMAGE BETWEEN aACCEPTANCE AND CLOSING Seller shall maintain the Property until the earlier of whether a condition constitutes defect. 191 door of openers remote controls; security central vacuumofsystems andexcept accessories; in207antennas; closing orgarage occupancy Buyer and in materially the sameinstalled condition as of systems; the date of acceptance this Offer, for ordinary 192 sprinkler and component parts; built-in appliances; ceiling storage buildings on permanent 208ground wear and tear. If,systems prior to closing, the Property is damaged in an amount of notfans; morefences; than five percent (5%) of the selling price, 193 docks/piers on permanent foundations. 209foundations Seller shall and be obligated to repair the Property and restore it to the same condition that it was on the day of this Offer. No later 194 Exclude any Fixtures to bewith retained by Seller orlienable which are rented water Ifsoftener or other 210CAUTION: than closing, Seller shall provide Buyer lien waivers for all repairs and (e.g., restoration. the damage shall water exceed 195 systems, entertainment satellite components, L.P.Offer tanks, etc.) lines 17-18. 211conditioning such sum, Seller shall home promptly notify Buyerand in writing of dish the damage and this may beon canceled at option of Buyer. 196 PROPERTY: Unless “Property” the real estate at lines 4-7. 212■Should Buyer elect to otherwise carry out stated, this Offer despitemeans such damage, Buyerdescribed shall be entitled to the insurance proceeds, if any, 197 SURVEYS Buyertowards acknowledges that any building or roomofdimensions, or totalon 213 PROPERTY relating to theDIMENSIONS damage to theAND Property, plus a credit the purchase priceland, equal to the amount Seller's deductible 198 or building square footage figures, providedbytoa Buyer by Seller by a broker, may be because shall of 214acreage such policy, if any. However, if this sale is financed land contract or or a mortgage to Seller, anyapproximate insurance proceeds 199 or other reasons, unless the verified by survey or other means. 215rounding, be held informulas trust for used the sole purpose of restoring Property. 200 CAUTION: Buyer should verify total square footage formula, total square footage/acreage figures, and land, building 201 or room dimensions, if material. 202 BUYER’S PRE-CLOSING WALK-THROUGH Within 3 days prior to closing, at a reasonable time pre-approved by Seller or 203 Seller's agent, Buyer shall have the right to walk through the Property to determine that there has been no significant change 141 204 in the condition of the Property, except for ordinary wear and tear and changes approved by Buyer, and that any defects 205 Seller has agreed to cure have been repaired in the manner agreed to by the Parties. 206 PROPERTY DAMAGE BETWEEN ACCEPTANCE AND CLOSING Seller shall maintain the Property until the earlier of 149 150

■ DEADLINES: “Deadlines” expressed a number “days”shrubs from anand event, such as acceptance, are calculated by excluding fixtures, including, but not limited to, all: as garden bulbs;ofplants; trees; screen and storm doors and windows; electric the day fixtures; the event occurred and curtain by counting subsequent days. The deadline expires at cooling midnight on and the last day. lighting window shades; and traverse rods; calendar blinds and shutters; central heating and units attached 176 as a specific number systems; of “business days” exclude Saturdays, Sundays, legal public holiday under 190 Deadlines equipment;expressed water heaters and treatment sump pumps; attached or fitted floor any coverings; awnings; attached 177 or SALES Federal and and any remote other day designated bysecurity the President such thatvacuum the postal service not receive REAL ESTATE 191 Wisconsin antennas; garage door law, openers controls; installed systems; central systems anddoes accessories; in178 mail orsystems make regular deliveriesparts; on that day. appliances; Deadlines expressed as fences; a specific number of “hours” from the 192 registered ground sprinkler and component built-in ceiling fans; storage buildings on permanent 179 andocks/piers event, suchon aspermanent receipt of afoundations. notice, are calculated from the exact time of the event, and by counting 24 hours 193 occurrence foundations of and 180 calendarExclude day. Deadlines expressed a specific of the year or as(e.g., the day of asoftener specific or event, as 194 per CAUTION: any Fixtures to beasretained byday Seller or calendar which are rented water othersuch water 181 closing, expire at midnight of that day. 195 conditioning home entertainment and dish components, L.P. tanks, etc.) on lines 17-18. Lines 197-201systems, Property Dimensions andsatellite Surveys 182 “Defect” means a condition would means have a the significant adverse effectatonlines the 4-7. value of the Property; Page 4that of 9, would WB-11 196 ■ ■ DEFECT: PROPERTY: Unless otherwise stated, that “Property” real estate described 183 the health FROM or safety of future occupants of the Property; or that if not repaired, or replacedorwould 197 significantly PROPERTYimpair DIMENSIONS AND SURVEYS acknowledges that any land, building or removed room dimensions, total 173 DEFINITIONS CONTINUED PAGE 2 Buyer 184 significantly shorten or adversely affect the normal lifefrom ofbythe premises. 198 ■ acreage or building square footage figures, provided to Buyer Seller by aasbroker, may be of 174 DEADLINES: “Deadlines” expressed as aexpected number of “days” an event,orsuch acceptance, areapproximate calculated bybecause excluding 185 ■ FIXTURE: A “Fixture” an reasons, item of property which by is physically attached to or expires so closely associated withlast land or 199 the rounding, formulas used orisother unless verified survey or other means. 175 day the event occurred and by counting subsequent calendar days. The deadline at midnight on the day. 186 improvements so as toasbea verify treated as part ofofthe real estate, including, without limitation, physically attached not easily 200 Deadlines CAUTION:expressed Buyer should total square footage formula, total square footage/acreage anditems land, building 176 specific number “business days” exclude Saturdays, Sundays, anyfigures, legal public holiday under 187 removable without damage to the specifically adapted to the premises items customarily treated as 201 Wisconsin or room dimensions, if material. 177 or Federal law, and anypremises, other dayitems designated by the President such that theand postal service does not receive 188 fixtures, including, not regular limited to, all: garden bulbs; plants; shrubs trees;atscreen storm doors and windows; electric 202 registered BUYER’S PRE-CLOSING WALK-THROUGH 3 days prior toand closing, aasreasonable time pre-approved by from Seller or 178 mail or but make deliveries onWithin that day. Deadlines expressed a and specific number of “hours” the 189 lighting window shades; curtain and traverse rods; blinds and central heating andbeen cooling and 24 attached 203 occurrence Seller's fixtures; agent, Buyer shall have rightof toawalk through the Property tothe determine thatof there has no units significant change 179 of an event, such as the receipt notice, are calculated fromshutters; exact time the event, and by counting hours 190 equipment; water heaters and treatment sump attached floor awnings; 204 per in the condition the Property, except as for systems; tear and changes approved bycoverings; Buyer, and that anyattached defects 180 calendar day.of Deadlines expressed aordinary specificwear day and ofpumps; the calendar yearororfitted as the day of a specific event, such as This section of the offer informs a buyer that any measurements of the property are approximate 191 antennas; garage door openers and remote controls; installed security systems; central vacuum systems and accessories; in- and 205 closing, Seller has agreed to cure have been 181 expire at midnight of that day.repaired in the manner agreed to by the Parties. if 182 measurements of ameans property are material to aaappliances; buyer, the buyer should verify theProperty; measurements. A 192 ground sprinkler systems and component parts; ceiling fans; fences; storage buildings 206 PROPERTY DAMAGE BETWEEN ACCEPTANCE AND CLOSING Seller shall maintain the Property untilon thepermanent earlier of ■ DEFECT: “Defect” a condition that wouldbuilt-in have significant adverse effect on the value of the that would 193 foundations and docks/piers on permanent foundations. buyer can orverify a the property’s measurements by of ordering a date survey. who want a for survey of the 207 significantly closing occupancy ofhealth Buyer materially the same condition of the of acceptance of this Offer, except ordinary 183 impair orin safety of future occupants theasProperty; or that if notBuyers repaired, removed or replaced would 194 CAUTION: Exclude Fixtures be expected retained bybecause Seller or which rented (e.g., water orpart other 208 significantly wear and tear. If, prior to closing, the is damaged inlife an of amount of are not more five percentsoftener (5%) ofathe selling price, 184 shorten orany adversely the normal the premises. property must include that asaffect atoProperty contingency surveys are than not automatically ofwater an offer 195 conditioning systems, home entertainment and satellite dish components, L.P. tanks, etc.) on day lines 17-18. 209 ■ Seller shall be obligated to repair the Property and restore it to the same condition that it was on the of this Offer. No 185 FIXTURE: A “Fixture” is an item of property which is physically attached to or so closely associated with landlater orciting to196 purchase. Licensees should not represent dimensions or measurements of a property without ■ PROPERTY: stated, “Property” means the estate described lines 4-7. If attached 210 improvements than closing, Seller with waivers for allreal lienable repairs and at restoration. the damage shall 186 soUnless asshall to otherwise beprovide treatedBuyer as part of lien the real estate, including, without limitation, physically items notexceed easily the source forSeller the figure and should notitems walk the lot lines with a buyer because acustomarily buyer might interpret 197 PROPERTY DIMENSIONS SURVEYS Buyer acknowledges that room dimensions, total 211 removable such sum, without shall promptly notify Buyer in writing of the damage and thisland, Offerbuilding mayand beor canceled at optiontreated oforBuyer. 187 damage toAND the premises, specifically adapted toany the premises items as that as confirmation of the lotthis 198 acreage or building square footage figures, provided to damage, Buyer byBuyer Seller or by aentitled broker, may approximate because of 212 fixtures, Should Buyer electbut to carry out Offer despite such shall be the be insurance proceeds, if any, 188 including, not limited to,size. all: garden bulbs; plants; shrubs and trees; screen and to storm doors and windows; electric 199 rounding, usedtoshades; orthe other reasons, unless verified survey or shutters; otherprice means. 213 lighting relating fixtures; toformulas the damage Property, plus atraverse credit towards the purchase equal heating to the amount of Seller's on 189 window curtain and rods;byblinds and central and cooling units deductible and attached Lines 202-205 Buyer’s Pre-closing Walk-through 200 CAUTION: should verify total footage totalattached square footage/acreage figures, and land, building 214 equipment; such policy,Buyer if any. However, if this salesquare is financed bysump aformula, landpumps; contract or a mortgage to Seller, any insurance proceeds shall 190 water heaters and treatment systems; or fitted floor coverings; awnings; attached 201 or room dimensions, if material. 215 antennas; be held in trust for door the sole purpose restoring the Property. 191 garage openers andof remote controls; installed security systems; central vacuum systems and accessories; in202 ground BUYER’S PRE-CLOSING WALK-THROUGH Within 3 days prior to closing, at a reasonable time pre-approved Seller or 192 sprinkler systems and component parts; built-in appliances; ceiling fans; fences; storage buildings on by permanent 203 foundations Seller's agent, shall have the right tofoundations. walk through the Property to determine that there has been no significant change 193 andBuyer docks/piers on permanent 204 CAUTION: in the condition of theany Property, except ordinaryby wear and or tear and changes approved by Buyer, and that any defects 194 Exclude Fixtures to beforretained Seller which are rented (e.g., water softener or other water 205 conditioning Seller has agreed to curehome have entertainment been repaired inand thesatellite manner dish agreed to by the Parties. 195 systems, components, L.P. tanks, etc.) on lines 17-18. 206 ■PROPERTY DAMAGE BETWEEN ACCEPTANCE AND the CLOSING Seller shall maintain the Property until the earlier of 196 PROPERTY: Unless otherwise stated, “Property” means real estate described at lines 4-7. 207 closing or occupancy of in materially the to same condition of the acceptance Offer, except ordinary A 197 buyer can arrange a Buyer timeAND with a seller conduct aaspre-closing walk-through within threefordays prior to PROPERTY DIMENSIONS SURVEYS Buyer acknowledges thatdate anyofland, buildingoforthis room dimensions, or total 208 wear and tear. If, prior to closing, the Property is damaged in an amount of not more than five percent (5%) of the selling price, 198 acreage or building square footage figures, provided to Buyer by Seller or by a broker, may be approximate because of it is closing. The purpose of the walk-through is for a buyer to evaluate the property and determine that 209 rounding, Seller shallformulas be obligated to repair the Property andverified restorebyit survey to the same condition that it was on the day of this Offer. No later 199 used or other reasons, unless or other means. in substantially the same condition as when the buyer made the offer. Additionally, this is an opportu210 CAUTION: than closing,Buyer Sellershould shall provide Buyersquare with lien waiversformula, for all lienable repairsfootage/acreage and restoration. figures, If the damage shallbuilding exceed 200 verify total footage total square and land, nity for asum, buyer to shall verify that the seller has completed any and repairs as agreed to in the contract for sale. 211 such Seller promptly notify Buyer in writing of the damage this Offer may be canceled at option of Buyer. 201 or room dimensions, if material. 212 Should Buyer elect to carryWALK-THROUGH out this Offer despite such damage, shallatbea reasonable entitled to the proceeds, if any, 202 BUYER’S PRE-CLOSING Within 3 days prior Buyer to closing, timeinsurance pre-approved by Seller or 213 Seller's relating agent, to the damage to the Property, a credit towards purchase price equal the amount of no Seller's deductible on 203 Buyer shall have the rightplus to walk through the the Property to determine thattothere has been significant change 214 in such policy, if any. However, if this sale is financed a land orand a mortgage to Seller, insurance proceeds shall 204 the condition of the Property, except for ordinarybywear andcontract tear and changes approved by any Buyer, and that any defects Lines 206-215 Property Damage Between Acceptance Closing 215 Seller be heldhas in trust for to thecure solehave purpose restoring 205 agreed beenofrepaired in the the Property. manner agreed to by the Parties. 174 188 175 189

206 207 208 209 210 211 212 213 214 215

PROPERTY DAMAGE BETWEEN ACCEPTANCE AND CLOSING Seller shall maintain the Property until the earlier of closing or occupancy of Buyer in materially the same condition as of the date of acceptance of this Offer, except for ordinary wear and tear. If, prior to closing, the Property is damaged in an amount of not more than five percent (5%) of the selling price, Seller shall be obligated to repair the Property and restore it to the same condition that it was on the day of this Offer. No later than closing, Seller shall provide Buyer with lien waivers for all lienable repairs and restoration. If the damage shall exceed such sum, Seller shall promptly notify Buyer in writing of the damage and this Offer may be canceled at option of Buyer. Should Buyer elect to carry out this Offer despite such damage, Buyer shall be entitled to the insurance proceeds, if any, relating to the damage to the Property, plus a credit towards the purchase price equal to the amount of Seller's deductible on such policy, if any. However, if this sale is financed by a land contract or a mortgage to Seller, any insurance proceeds shall be held in trust for the sole purpose of restoring the Property.

The terms of the WB-11 dictate the parties’ actions and remedies if property damage occurs between acceptance and closing. If the damage is less than 5% of the purchase price, the seller must repair the property and provide lien waivers to the buyer for all lienable repairs and restoration no later than closing. If the damage is 5% of the purchase price or greater, the seller notifies the buyer in writing and the buyer can cancel the offer. If a buyer chooses to continue with the transaction, the buyer is entitled to insurance proceeds resulting from the damage. Buyers and sellers could negotiate other remedies and methods for addressing the damage by amending the offer but the default provisions provide the parties with a preset method of addressing damage between acceptance and closing.

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Lines 216-263 Financing Contingency Property Address: _________________________________________________________________________________________________________Page 5 of 9, WB-11 216 217 218 219 220 221 222 223 224 225 226 227 228 229 230 231 232 233 234 235 236 237 238 239 240 241 242 243 244 245 246 247 248 249 250 251 252 253 254 255 256 257 258 259 260 261 262 263 264 265 266 267 268 269 270 271

IF LINE 217 IS NOT MARKED OR IS MARKED N/A LINES 257-263 APPLY. FINANCING CONTINGENCY: This Offer is contingent upon Buyer being able to obtain a written __________________ ______________________________________________________ [INSERT LOAN PROGRAM OR SOURCE] first mortgage loan commitment as described below, within _______ days of acceptance of this Offer. The financing selected shall be in an amount of not less than $ _____________________ for a term of not less than ______ years, amortized over not less than _____ years. Initial monthly payments of principal and interest shall not exceed $ _____________. Monthly payments may also include 1/12th of the estimated net annual real estate taxes, hazard insurance premiums, and private mortgage insurance premiums. The mortgage may not include a prepayment premium. Buyer agrees to pay discount points and/or loan origination fee in an amount not to exceed ________% of the loan. If the purchase price under this Offer is modified, the financed amount, unless otherwise provided, shall be adjusted to the same percentage of the purchase price as in this contingency and the monthly payments shall be adjusted as necessary to maintain the term and amortization stated above. CHECK AND COMPLETE APPLICABLE FINANCING PROVISION AT LINE 228 or 229.  FIXED RATE FINANCING: The annual rate of interest shall not exceed _______%.  ADJUSTABLE RATE FINANCING: The initial annual interest rate shall not exceed _______%. The initial interest rate shall be fixed for _______ months, at which time the interest rate may be increased not more than ________% per year. The maximum interest rate during the mortgage term shall not exceed ________%. Monthly payments of principal and interest may be adjusted to reflect interest changes. If Buyer is using multiple loan sources or obtaining a construction loan or land contract financing, describe at lines 165-172 or 435-442 or in an addendum attached per line 434. ■ BUYER’S LOAN COMMITMENT: Buyer agrees to pay all customary loan and closing costs, to promptly apply for a mortgage loan, and to provide evidence of application promptly upon request of Seller. If Buyer qualifies for the loan described in this Offer or another loan acceptable to Buyer, Buyer agrees to deliver to Seller a copy of the written loan commitment no later than the deadline at line 219. Buyer and Seller agree that delivery of a copy of any written loan commitment to Seller (even if subject to conditions) shall satisfy Buyer’s financing contingency if, after review of the loan commitment, Buyer has directed, in writing, delivery of the loan commitment. Buyer’s written direction shall accompany the loan commitment. Delivery shall not satisfy this contingency if accompanied by a notice of unacceptability. CAUTION: The delivered commitment may contain conditions Buyer must yet satisfy to obligate the lender to provide the loan. BUYER, BUYER’S LENDER AND AGENTS OF BUYER OR SELLER SHALL NOT DELIVER A LOAN COMMITMENT TO SELLER OR SELLER’S AGENT WITHOUT BUYER'S PRIOR WRITTEN APPROVAL OR UNLESS ACCOMPANIED BY A NOTICE OF UNACCEPTABILITY. ■ SELLER TERMINATION RIGHTS: If Buyer does not make timely delivery of said commitment; Seller may terminate this Offer if Seller delivers a written notice of termination to Buyer prior to Seller's Actual Receipt of a copy of Buyer's written loan commitment. ■ FINANCING UNAVAILABILITY: If financing is not available on the terms stated in this Offer (and Buyer has not already delivered an acceptable loan commitment for other financing to Seller), Buyer shall promptly deliver written notice to Seller of same including copies of lender(s)' rejection letter(s) or other evidence of unavailability. Unless a specific loan source is named in this Offer, Seller shall then have 10 days to deliver to Buyer written notice of Seller's decision to finance this transaction on the same terms set forth in this Offer, and this Offer shall remain in full force and effect, with the time for closing extended accordingly. If Seller's notice is not timely given, this Offer shall be null and void. Buyer authorizes Seller to obtain any credit information reasonably appropriate to determine Buyer's credit worthiness for Seller financing. ■ IF THIS OFFER IS NOT CONTINGENT ON FINANCING: Within 7 days of acceptance, a financial institution or third party in control of Buyer’s funds shall provide Seller with reasonable written verification that Buyer has, at the time of verification, sufficient funds to close. If such written verification is not provided, Seller has the right to terminate this Offer by delivering written notice to Buyer. Buyer may or may not obtain mortgage financing but does not need the protection of a financing contingency. Seller agrees to allow Buyer’s appraiser access to the Property for purposes of an appraisal. Buyer understands and agrees that this Offer is not subject to the appraisal meeting any particular value, unless this Offer is subject to an appraisal contingency, nor does the right of access for an appraisal constitute a financing contingency. APPRAISAL CONTINGENCY: This Offer is contingent upon the Buyer or Buyer’s lender having the Property appraised at Buyer’s expense by a Wisconsin licensed or certified independent appraiser who issues an appraisal report dated subsequent to the date of this Offer indicating an appraised value for the Property equal to or greater than the agreed upon purchase price. This contingency shall be deemed satisfied unless Buyer, within _____________ days of acceptance, delivers to Seller a copy of the appraisal report which indicates that the appraised value is not equal to or greater than the agreed upon purchase price, accompanied by a written notice of termination. CAUTION: An appraisal ordered by Buyer’s lender may not be received until shortly before closing. Consider whether deadlines provide adequate time for performance.

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Many buyers must secure financing in the form of a mortgage to purchase a seller’s property. A buyer can use the financing contingency to make an offer on a property with the understanding that, if the buyer is unable to get financing according to terms acceptable to the buyer, the buyer will be unable to complete the transaction. If a buyer is going to make an offer contingent on financing, the buyer marks the blank box on line 217. If the offer is not contingent on financing, the provisions at lines 257263 apply. A buyer uses lines 217-226 to describe the loan the buyer would like to use to finance the transaction. The buyer names the source, which could be a conventional loan, a loan from the Federal Housing Authority (FHA) or Veterans Administration (VA), or some other kind of loan. On line 219, a buyer sets a deadline from acceptance for obtaining the loan. Lines 220-226 describe the terms of the loan including the amount of the loan, monthly mortgage payments, length of the loan, interest rate, and other fees. Lines 224-226 state that if the final purchase price is different from the purchase price in a buyer’s offer, the amount of the loan stated on line 220 and the monthly mortgage payment stated on line 221 adjust automatically to reflect the final purchase price. Using lines 228-232, a buyer indicates whether the desired loan is a fixed or adjustable rate loan. The Buyer’s Loan Commitment subsection at lines 235-246 provides that if a buyer qualifies for the loan described or another loan that is acceptable to the buyer, the buyer will provide evidence in the form of a loan commitment from a lender to the seller by the deadline stated by the buyer at line 219. If a buyer applies for or if a lender offers a loan other than the one described at lines 217-234 and that loan is acceptable to a buyer, a buyer can provide that loan commitment to a seller and satisfy the loan contingency. Buyers must include written direction of delivery of the loan commitment along with the actual loan commitment. Delivery of a buyer’s loan commitment to the seller, even if the loan commitment is subject to additional conditions, satisfies this contingency. Line 243 cautions the buyer that delivery of a loan commitment that is subject to additional conditions satisfies the contingency. A loan commitment is not a guarantee from a lender that the buyer will actually receive the requested loan. Loan commitments from lenders are often subject to additional conditions such as appraisals or verification of other information used by the lender to evaluate a borrower’s credit worthiness. Once a buyer delivers a loan commitment, the financing contingency is satisfied even if the lender ultimately does not provide the loan for any reason. A buyer cannot rescind an offer after satisfying the financing contingency if the lender decides not to finance the transaction. A buyer’s financing contingency states that the buyer will apply for a loan at 5.25% for a term of 30 years. The lender provides a loan commitment for a loan on those terms subject to the lender’s appraisal of the property. The buyer directs, in writing, delivery of the loan commitment to the seller. The buyer has satisfied the financing contingency. The lender appraises the property and decides not to issue the loan based on the appraisal. The buyer cannot rescind the offer to purchase based on the financing contingency even though the lender has decided not to finance the transaction. A buyer’s financing contingency states that the buyer will apply for a loan at 5.25% for a term of 30 years. The lender provides a loan commitment for a loan at 6% for 30 years. The buyer decides this is acceptable and delivers this loan commitment to the seller. The buyer has satisfied the financing contingency. If a buyer fails to deliver a loan commitment to the seller by the deadline in the contingency, the seller can terminate the offer by delivering written notice to the buyer as long as the seller delivers the written notice prior to actual receipt of the buyer’s loan commitment. A buyer’s financing contingency deadline for satisfaction is 6 days from acceptance. On Day 7, the buyer has not provided a loan commitment. On Day 7, the seller provides written notice of termination of the offer. 144

 FIXED RATE FINANCING: The annual rate of interest shall not exceed _______%.  ADJUSTABLE RATE FINANCING: The initial annual interest rate shall not exceed _______%. The initial interest 230 rate shall be fixed for _______ months, at which time the interest rate may be increased not more than ________% per Offers to Purchase 231 year. The maximum interest rate during the mortgage term shall not exceed ________%. Monthly payments of principal - 10 232 and interest may be adjusted to reflect interest changes. 233 If Buyer is using multiple loan sources or obtaining a construction loan or land contract financing, describe at lines 234 165-172 or 435-442 or in an addendum attached per line 434. ■ BUYER’S LOAN COMMITMENT: agreesfor to pay all customary and closing costs, to promptlyOn apply for 9, a the A 235 buyer’s financing contingency Buyer deadline satisfaction is loan 6 days from acceptance. Day 236 mortgage loan, and to provide evidence of application promptly upon request of Seller. If Buyer qualifies for the loan described buyer has not provided a loan commitment. The seller has not yet provided written notice of termina237 in this Offer or another loan acceptable to Buyer, Buyer agrees to deliver to Seller a copy of the written loan commitment no tion. On Day 10, the buyer personally hands a loan commitment to the seller. The seller has actual 238 later than the deadline at line 219. Buyer and Seller agree that delivery of a copy of any written loan commitment to receipt of the buyer’s loan commitment and the seller can no longer terminate the offer based on the 239 Seller (even if subject to conditions) shall satisfy Buyer’s financing contingency if, after review of the loan financing contingency even though the buyer failed to deliver the loanBuyer’s commitment by the deadline 240 commitment, Buyer has directed, in writing, delivery of the loan commitment. written direction shall 241 accompany loan commitment. Delivery shall not satisfy this contingency if accompanied by a notice of specified in thethe contingency. 242 unacceptability. If 243 a buyer is unable to obtain a loanmay ascontain described in the contingency or another loan that isto acceptable CAUTION: The delivered commitment conditions Buyer must yet satisfy to obligate the lender provide to244the buyer, the buyer delivers a notice of financing unavailability and lender rejection to the the loan. BUYER, BUYER’S LENDER AND AGENTS OF BUYER OR SELLER SHALL NOT DELIVERletters A LOAN 245 COMMITMENT TO SELLER OR SELLER’S AGENT WITHOUT BUYER'S PRIOR WRITTEN APPROVAL OR UNLESS seller. Lines 252-255 provide a seller with the option of deciding to finance the transaction according ACCOMPANIED BY A NOTICE OF UNACCEPTABILITY. to246 the terms specified in the buyer’s loan contingency. A seller has 10 days from receipt of the notice 247 ■ SELLER TERMINATION RIGHTS: If Buyer does not make timely delivery of said commitment; Seller may terminate this of unavailability to provide written notice to the buyer of the seller’s intention to finance the transaction. 248 Offer if Seller delivers a written notice of termination to Buyer prior to Seller's Actual Receipt of a copy of Buyer's written loan If 249 a seller does this, the parties proceed to closing and the buyer cannot rescind the offer to purchase commitment. based on the buyer’s inability Iftofinancing satisfyisthe financing contingency. buyer a not specific 250 ■ FINANCING UNAVAILABILITY: not available on the terms stated in If thisaOffer (andnames Buyer has already loan 251 delivered an as acceptable loanor commitment otherseller financing to Seller), Buyer shall deliver written notice tothe Seller of source, such an FHA VA loan,forthe does not have the promptly opportunity to finance transac252 because same including lender(s)'provide rejection letter(s) or other evidence of a specific loanbuyer’s source is loan tion thecopies sellerof cannot financing according to unavailability. the terms Unless described in the 253 named in this Offer, Seller shall then have 10 days to deliver to Buyer written notice of Seller's decision to finance this commitment. 254 transaction on the same terms set forth in this Offer, and this Offer shall remain in full force and effect, with the time for closing If Seller's on notice is not timely Offer provide shall be null and void. Buyer Seller obtain If 255 theextended offer isaccordingly. not contingent financing, a given, buyerthismust evidence that authorizes the buyer hasto the funds 256 any credit information reasonably appropriate to determine Buyer's credit worthiness for Seller financing. to complete the transaction. Lines 257-263 dictate the terms of offers not contingent on financing. 257 ■ IF THIS OFFER IS NOT CONTINGENT ON FINANCING: Within 7 days of acceptance, a financial institution or third party Within seven days of an accepted offer that is not contingent on financing, a financial institution or third 258 in control of Buyer’s funds shall provide Seller with reasonable written verification that Buyer has, at the time of verification, party in control buyer’s funds shall provide verification of has the the funds toterminate the seller. If the seller does 259 sufficient funds of to close. If such written verification is not provided, Seller right to this Offer by delivering not verification, the seller terminate the offer. 260receive written notice to Buyer. Buyer may or can may not obtain mortgage financing but does not need the protection of a financing 261 contingency. Seller agrees to allow Buyer’s appraiser access to the Property for purposes of an appraisal. Buyer understands 262 and agrees that this Offer is not subject to the appraisal meeting any particular value, unless this Offer is subject to an Lines 264-271 Appraisal Contingency 263 appraisal contingency, nor does the right of access for an appraisal constitute a financing contingency. 264 APPRAISAL CONTINGENCY: This Offer is contingent upon the Buyer or Buyer’s lender having the Property appraised 265 at Buyer’s expense by a Wisconsin licensed or certified independent appraiser who issues an appraisal report dated 266 subsequent to the date of this Offer indicating an appraised value for the Property equal to or greater than the agreed upon 267 purchase price. This contingency shall be deemed satisfied unless Buyer, within _____________ days of acceptance, delivers 268 to Seller a copy of the appraisal report which indicates that the appraised value is not equal to or greater than the agreed upon 269 purchase price, accompanied by a written notice of termination. 270 CAUTION: An appraisal ordered by Buyer’s lender may not be received until shortly before closing. Consider whether 271 deadlines provide adequate time for performance. 228 229

By including an appraisal contingency in an offer, a buyer can have an appraisal of the property and if the property does not appraise at the purchase price or higher, the buyer can terminate the offer by providing written notice with the appraisal report to the seller within the deadline from acceptance included on line 267. A buyer can use the appraisal contingency with the financing contingency to rescind the offer even if the buyer provided a loan commitment to the seller, satisfying the financing contingency. A buyer submits an offer including both a financing and appraisal contingency. A lender offers the buyer a loan on the terms stated in the financing contingency. The lender’s loan commitment is subject to an appraisal. The buyer provides the loan commitment to the seller, satisfying the loan contingency. The lender appraises the property and the appraisal is for less than the agreed upon purchase price. The lender will not issue the loan. The buyer delivers a copy of the appraisal and written notice of termination to the seller and rescinds the offer.

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Lines 272-277 Distribution of Information

Page 6 of 9, WB-11

DISTRIBUTION OF INFORMATION Buyer and Seller authorize the agents of Buyer and Seller to: (i) distribute copies of the 273 Offer to Buyer's lender, appraisers, title insurance companies and any other settlement service providers for the transaction as 274 defined by the Real Estate Settlement Procedures Act (RESPA); (ii) report sales and financing concession data to multiple 275 listing service sold databases; and (iii) provide active listing, pending sale, closed sale and financing concession information 276 and data, and related information regarding seller contributions, incentives or assistance, and third party gifts, to appraisers 277 researching comparable sales, market conditions and listings, upon inquiry. 278 DEFAULT Seller and Buyer each have the legal duty to use good faith and due diligence in completing the terms and 279 conditions this Offer. A materialto failure to perform anyof obligation under this Offer a defaultprofessionals. which may subjectWithout the This section of permits licensees disclose terms an offer to other realis estate 280 defaulting party included to liability forin damages or other legal remedies. could not disclose pending sale, closed sale, and this permission the WB-11, a licensee Page 6 of 9, WB-11 281 If Buyer defaults, Seller may: financing information to appraisers and lenders who need that information to research comparable 272 DISTRIBUTION OF INFORMATION Buyer and Seller authorize the agents of Buyer and Seller to: (i) distribute 282 (1) sue for specific performance and request the earnest money as partial payment of the purchase price; or copies of the 273 Offer to Buyer's lender, appraisers, title insurance companies and any other settlement service providers for the transaction as sales and appraise properties. This section also permits a licensee to provide copies of buyers’ offers 283 (2) terminate the Offer and have the option to: (a) request the earnest money as liquidated damages; or (b) sue for actual 274 defined by the Real Estate Procedures Act (RESPA); reportsettlement sales and financing concession data to multiple to284 lenders, appraisers, titleSettlement insurance companies, and (ii) other service providers. damages. 275 listing service sold databases; and (iii) provide active listing, pending sale, closed sale and financing concession information 285 If Seller defaults, Buyer may: 276 and data, and related information regarding seller contributions, incentives or assistance, and third party gifts, to appraisers Lines 278-297 286 (1) sue forDefault specific performance; or 277 researching comparable sales, market conditions and listings, upon inquiry. 287 (2) terminate the Offer and request the return of the earnest money, sue for actual damages, or both. 278 DEFAULT Seller and Buyer each have the legal duty to use good faith and due diligence in completing the terms and 288 In addition, the Parties may seek any other remedies available in law or equity. 279 conditions of this Offer. A material failure to perform any obligation under this Offer is a default which may subject the 289 The Parties understand that the availability of any judicial remedy will depend upon the circumstances of the situation and the 280 defaulting party to liability for damages or other legal remedies. 290 discretion of the courts. If either Party defaults, the Parties may renegotiate the Offer or seek nonjudicial dispute resolution 281 If Buyer defaults, Seller may: 291 instead of the remedies outlined above. By agreeing to binding arbitration, the Parties may lose the right to litigate in a court of 282 (1) sue for specific performance and request the earnest money as partial payment of the purchase price; or 292 law those disputes covered by the arbitration agreement. 283 (2) terminate the Offer and have the option to: (a) request the earnest money as liquidated damages; or (b) sue for actual 293 NOTE: IF ACCEPTED, THIS OFFER CAN CREATE A LEGALLY ENFORCEABLE CONTRACT. BOTH PARTIES SHOULD 284 damages. 294 READ THIS DOCUMENT CAREFULLY. BROKERS MAY PROVIDE A GENERAL EXPLANATION OF THE PROVISIONS 285 If Seller defaults, Buyer may: 295 OF THE OFFER BUT ARE PROHIBITED BY LAW FROM GIVING ADVICE OR OPINIONS CONCERNING YOUR LEGAL 286 (1) sue for specific performance; or 296 RIGHTS UNDER THIS OFFER OR HOW TITLE SHOULD BE TAKEN AT CLOSING. AN ATTORNEY SHOULD BE 287 (2) terminate the Offer and request the return of the earnest money, sue for actual damages, or both. 297 CONSULTED IF LEGAL ADVICE IS NEEDED. 288 In addition, the Parties may seek any other remedies available in law or equity. 298 ENTIRE CONTRACT This Offer, including any amendments to it, contains the entire agreement of the Buyer and Seller 289 The Parties understand that the availability of any judicial remedy will depend upon the circumstances of the situation and the 299 regarding the transaction. All prior negotiations and discussions have been merged into this Offer. This agreement binds 290 discretion of the courts. If either Party defaults, the Parties may renegotiate the Offer or seek nonjudicial dispute resolution 300 and inures to the benefit of the Parties to this Offer and their successors in interest. 291 instead of the remedies outlined above. By agreeing to binding arbitration, the Parties may lose the right to litigate in a court of 301 NOTICE ABOUT SEX OFFENDER REGISTRY You may obtain information about the sex offender registry and persons 292 law those disputes covered by the arbitration agreement. 302 registered with the registry by contacting the Wisconsin Department of Corrections on the Internet at 293 NOTE: IF ACCEPTED, THIS OFFER CAN CREATE A LEGALLY ENFORCEABLE CONTRACT. BOTH PARTIES SHOULD 303 http://www.widocoffenders.org or by telephone at (608) 240-5830. 294 READ THIS DOCUMENT CAREFULLY. BROKERS MAY PROVIDE A GENERAL EXPLANATION OF THE PROVISIONS 295 OF THE OFFER BUT ARE PROHIBITED BY LAW FROM GIVING ADVICE OR OPINIONS CONCERNING YOUR LEGAL 296 RIGHTS UNDER THIS OFFER OR HOW TITLE SHOULD BE TAKEN AT CLOSING. AN ATTORNEY SHOULD BE 297 CONSULTED IF LEGAL ADVICE IS NEEDED. 298 ENTIRE CONTRACT This Offer, including any amendments to it, contains the entire agreement of the Buyer and Seller Sometimes, parties to a All contract are unwilling or unable to perform as this required under the contract. 299 regarding the transaction. prior negotiations and discussions have been merged into Offer. This agreement binds When that occurs, a party breaches theOffer contract defaults on the terms of the contract giving rise to 300 and inures to the benefit of the Parties to this and theirand successors in interest. 301 NOTICE SEX OFFENDER party. REGISTRY may obtain information about the sex offender registry and persons remedies forABOUT the non-breaching TheYou WB-11 provides standard remedies to buyers and sellers if 302 registered with the registry by contacting the Wisconsin Department of Corrections on the Internet at the other party defaults on the contract. The WB-11 informs the parties at lines 278-279 that the parties 303 http://www.widocoffenders.org or by telephone at (608) 240-5830. 272

are obligated to use good faith and due diligence when completing the terms of the offer.

Licensees should not advise parties on whether another party is in default and should not recommend any particular remedy or strategy when dealing with a party in default. Parties with questions about the status of a contract and remedies available for default should consult an attorney. If a buyer or a seller asks a licensee about contract default, the licensee can explain this section but should not suggest that one or any of the options are suitable remedies for the non-breaching party. The preprinted terms of the WB-11 provide sellers and buyers with remedies if the other party breaches the contract. When reviewing these remedies with a party, a licensee should point out the use of the word “or” in the presentation of the options. A non-breaching party cannot elect all of the remedies and choosing one over another may eliminate the party’s option to choose another remedy. A buyer decides not to complete the contract for sale. A seller decides to keep the earnest money as liquidated damages. A seller cannot then sue for specific performance or actual damages.

146

DISTRIBUTION OF INFORMATION Buyer and Seller authorize the agents of Buyer and Seller to: (i) distribute copies of the defaults, may: title insurance companies and any other settlement service providers for the transaction as OfferIftoSeller Buyer's lender,Buyer appraisers, (1) sue for specific performance; or Procedures Act (RESPA); (ii) report sales and financing concession data to multiple defined by the Real Estate Settlement 287 (2)service terminate Offer andand request the return of the earnest money, sueclosed for actual or both. 275 listing soldthe databases; (iii) provide active listing, pending sale, saledamages, and financing concession information - 10 Offers to Purchase 288 In addition, the Parties may seek any other remedies available in law or equity. 276 and data, and related information regarding seller contributions, incentives or assistance, and third party gifts, to appraisers 289 Parties understand the market availability of any and judicial remedy willinquiry. depend upon the circumstances of the situation and the 277 The researching comparablethat sales, conditions listings, upon 290 the courts. If eithereach Party defaults, the Parties the Offer or seek nonjudicial dispute 278 discretion DEFAULTof Seller and Buyer have the legal duty to may use renegotiate good faith and due diligence in completing the resolution terms and 291 instead of the remedies outlined above. By agreeing to binding arbitration, the Parties may lose the right to litigate a courtthe of 279 conditions of this Offer. A material failure to perform any obligation under this Offer is a default which may insubject Lines 289-292 state that parties are not limited to the remedies contained in the WB-11 and that par292 law those disputes covered by the arbitration agreement. 280 defaulting party to liability for damages or other legal remedies. ties can Ifalways seekSeller other remedies available underENFORCEABLE the law as well as pursuing alternative dispute 293 IF ACCEPTED, THIS OFFER CAN CREATE A LEGALLY CONTRACT. BOTH PARTIES SHOULD 281 NOTE: Buyer defaults, may: 294 THIS CAREFULLY. PROVIDE GENERAL EXPLANATION OFprice; THE or PROVISIONS resolution. 282 READ(1) sue DOCUMENT for specific performance and BROKERS request the MAY earnest money asA partial payment of the purchase 295 OFFER BUT ARE and PROHIBITED BY LAW FROM GIVING ADVICE OR OPINIONS YOUR LEGAL 283 OF THE (2) terminate the Offer have the option to: (a) request the earnest money as liquidatedCONCERNING damages; or (b) sue for actual 296 UNDER THIS Contract OFFER OR HOW TITLE SHOULD BE TAKEN AT CLOSING. AN ATTORNEY SHOULD BE 284 RIGHTS damages. Lines 298-300 Entire 297 IF LEGAL ADVICE 285 CONSULTED If Seller defaults, Buyer may: IS NEEDED. 298 ENTIRE CONTRACT This Offer, including any amendments to it, contains the entire agreement of the Buyer and Seller 286 (1) sue for specific performance; or 299 the transaction. prior negotiations discussions have been merged this Offer. This agreement binds 287 regarding (2) terminate the OfferAll and request the returnand of the earnest money, sue for actual into damages, or both. 300 to the benefit of the Parties this Offer and theiravailable successors in interest. 288 and inures In addition, the Parties may seek to any other remedies in law or equity. 301 ABOUT SEX OFFENDER REGISTRY may obtainwill information about sex offenderofregistry and persons 289 NOTICE The Parties understand that the availability of any You judicial remedy depend upon thethe circumstances the situation and the An offer to purchase includes thecontacting original offer, any amendments to it, and any on property incorporated 302 registered with the registry by the Wisconsin Department of Corrections the Internet at 290 discretion of the courts. If either Party defaults, the Parties may renegotiate the Offer or seek nonjudicial dispute resolution into the offer. All prior negotiations and discussions are merged into the offer. The entire contract 303 or above. by telephone at (608) 291 http://www.widocoffenders.org instead of the remedies outlined By agreeing to 240-5830. binding arbitration, the Parties may lose the right to litigate in a court of 272 285 273 286 274

binds the parties their in interest. This means that if a party to the contract dies, the 292 law those disputesand covered by successors the arbitration agreement. party’s estate or successors in interest remain bound by the contract. 293 NOTE: IF ACCEPTED, THIS OFFER CAN CREATE A LEGALLY ENFORCEABLE CONTRACT. BOTH PARTIES SHOULD 294

READ THIS DOCUMENT CAREFULLY. BROKERS MAY PROVIDE A GENERAL EXPLANATION OF THE PROVISIONS

298

ENTIRE CONTRACT This Offer, including any amendments to it, contains the entire agreement of the Buyer and Seller been merged into this Offer. This agreement binds and inures to the benefit of the Parties to this Offer and their successors in interest. NOTICE ABOUT SEX OFFENDER REGISTRY You may obtain information about the sex offender registry and persons registered with the registry by contacting the Wisconsin Department of Corrections on the Internet at http://www.widocoffenders.org or by telephone at (608) 240-5830.

A 295 buyer and a seller have a contract for sale of the seller’s property. Unfortunately, the seller dies OF THE OFFER BUT ARE PROHIBITED BY LAW FROM GIVING ADVICE OR OPINIONS CONCERNING YOUR LEGAL before closing. The seller’s must continue transaction andAN proceed to closing 296 RIGHTS UNDER THIS OFFERestate OR HOW TITLE SHOULDwith BE the TAKEN AT CLOSING. ATTORNEY SHOULDwith BE the 297 CONSULTED IF LEGAL ADVICE IS NEEDED. or the seller’s heirs do not want to sell the property. buyer even if the estate’s representative 299 regarding the transaction. All prior Sex negotiations and discussions Lines 301-303 Notice About Offender Registryhave 300 301 302 303

By including this information in the offer to purchase, Wisconsin has built in a licensee’s compliance with the disclosure obligations regarding sex offenders. A licensee satisfies any disclosure obligations related to sex offenders by providing the website and the telephone number of the Wisconsin Department of Corrections. Lines 304-311 Closing of a Buyer’s Property Contingency

Property Address: _________________________________________________________________________________________________________Page 7 of 9, WB-11

CLOSING OF BUYER'S PROPERTY CONTINGENCY: This Offer is contingent upon the closing of the sale of Buyer's property located at _____________________________________________, no later than ______________. If Seller accepts 306 a bona fide secondary offer, Seller may give written notice to Buyer of acceptance. If Buyer does not deliver to Seller a written 307 waiver of the Closing of Buyer's Property Contingency and ______________________________________________________ 308 _____________________________________________________________________________________________________ 309 [INSERT OTHER REQUIREMENTS, IF ANY (e.g., PAYMENT OF ADDITIONAL EARNEST MONEY, WAIVER OF ALL 310 CONTINGENCIES, OR PROVIDING EVIDENCE OF SALE OR BRIDGE LOAN, etc.)] within ____ hours of Buyer's Actual 311 Receipt of said notice, this Offer shall be null and void. 312 SECONDARY OFFER: This Offer is secondary to a prior accepted offer. This Offer shall become primary upon delivery Buyers oftennotice have to sell property residence. Thisnotice contingency 313 of written to Buyer thatan this existing Offer is primary. Unlessbefore otherwisepurchasing provided, Selleraisnew not obligated to give Buyer prior permits a deadline, buyer to an offersecondary contingent thethesale themade buyer’s identifies 314 to any normake is any particular buyeron given right of to be primaryhome. ahead ofThe other buyer secondary buyers. the 315 Buyer may declare on this Offer void sets by delivering written notice of withdrawal prior is to delivery Seller's notice buyer’s residence line null 305andand a deadline for the sale. Ifto aSeller buyer unableof to close on the 316 that this Offer is primary. Buyer may not deliver notice of withdrawal earlier than _____ days after acceptance of this Offer. All buyer’s property by the deadline set on line 305, the buyer is unable to satisfy this contingency. This 317 other Offer deadlines which are run from acceptance shall run from the time this Offer becomes primary. contingency also gives a seller the ability to ask a buyer to waive the contingency if a seller accepts a 318 TIME IS OF THE ESSENCE “Time is of the Essence” as to: (1) earnest money payment(s); (2) binding acceptance; (3) secondary offer. If aofseller a secondary offer, AS theAPPLICABLE seller canand askallthe to waive this contin319 occupancy; (4) date closing;accepts (5) contingency Deadlines STRIKE otherbuyer dates and Deadlines in this gency within number of hours specified on line 310. A buyer then has to decide whether to waive 320 Offer except:the _________________________________________________________________________________________ 321contingency. _________________________________________________________________________________________________ _____other the If a buyer is willing to waive the contingency, the buyer must comply with any 322 ______________________________________________________________. If “Time is of the Essence” applies to a date or obligations listed on lines 307-308 or get “bumped” out of primary position, voiding the offer, and let 323 Deadline, failure to perform by the exact date or Deadline is a breach of contract. If "Time is of the Essence" does not apply to the seller elevate another offer to primary position. A buyer may include provisions on lines 307-308 324 a date or Deadline, then performance within a reasonable time of the date or Deadline is allowed before a breach occurs. for325paying a seller additional earnest money or waiving other contingencies. TITLE EVIDENCE 326 ■ CONVEYANCE OF TITLE: Upon payment of the purchase price, Seller shall convey the Property by warranty deed 327 deadline (trustee’s deed if Seller is a trust, personal representative’s if Seller is runs an estate conveyance as The for waiving the closing of buyer’s propertydeed contingency fromoraother buyer’s actual receipt 328 provided herein), free and clear of all liens and encumbrances, except: municipal and zoning ordinances and agreements of the seller’s notice of accepting a secondary offer. Actual receipt means that the buyer, not the 329 entered under them, recorded easements for the distribution of utility and municipal services, recorded building and use buyer’s recipient for delivery, has the notice. 330 restrictions and covenants, present uses of the Property in violation of the foregoing disclosed in Seller’s Real Estate 331 Condition Report and in this Offer, general taxes levied in the year of closing and ___________________________________ 332 _________________________________________________________________________________________________ _____ 333 _________________________________________________________________________________________________ _____ 147 334 _________________________________________________________________________________________________ _____ 335 which constitutes merchantable title for purposes of this transaction. Seller shall complete and execute the documents 336 necessary to record the conveyance at Seller’s cost and pay the Wisconsin Real Estate Transfer Fee. 304 305

Property Address: _________________________________________________________________________________________________________Page 7 of 9, WB-11

CLOSING OF BUYER'S PROPERTY CONTINGENCY: This Offer is contingent upon the closing of the sale of Buyer's property located at _____________________________________________, no later than ______________. If Seller accepts REAL ESTATE SALESoffer, Seller may give written notice to Buyer of acceptance. If Buyer does not deliver to Seller a written 306 a bona fide secondary 307 waiver of the Closing of Buyer's Property Contingency and ______________________________________________________ 308 _____________________________________________________________________________________________________ 309 [INSERT OTHER REQUIREMENTS, IF ANY (e.g., PAYMENT OF ADDITIONAL EARNEST MONEY, WAIVER OF ALL 310 CONTINGENCIES, OR PROVIDING Lines 312-317 Secondary OfferEVIDENCE OF SALE OR BRIDGE LOAN, etc.)] within ____ hours of Buyer's Actual 311 Receipt of said notice, this Offer shall be null and void. 312 SECONDARY OFFER: This Offer is secondary to a prior accepted offer. This Offer shall become primary upon delivery 313 of written notice to Buyer that this Offer is primary. Unless otherwise provided, Seller is not obligated to give Buyer notice prior 314 to any deadline, nor is any particular secondary buyer given the right to be made primary ahead of other secondary buyers. 315 Buyer may declare this Offer null and void by delivering written notice of withdrawal to Seller prior to delivery of Seller's notice 316 that this Offer is primary. Buyer may not deliver notice of withdrawal earlier than _____ days after acceptance of this Offer. All 317 other Offer deadlines which are run from acceptance shall run from the time this Offer becomes primary. 318 TIME IS OF THE ESSENCE “Time is of the Essence” as to: (1) earnest money payment(s); (2) binding acceptance; (3) A319 seller who has accepted offer can Deadlines continueSTRIKE to accept secondary theandproperty. occupancy; (4) date of closing; an (5) contingency AS APPLICABLE andoffers all otheron dates Deadlines inBecause this licensees can disclose that a seller has accepted an offer, a buyer can write an offer on a property as 320 Offer except: _________________________________________________________________________________________ _________________________________________________________________________________________________ _____ can a 321 secondary offer. The buyer knows that the seller has already accepted an offer and the buyer 322 ______________________________________________________________. If “Time is of the Essence” applies to a date or choose to select this optional provision and write the offer as a secondary offer. This provision informs 323 Deadline, failure to perform by the exact date or Deadline is a breach of contract. If "Time is of the Essence" does not apply to a 324 buyer that there is no priority among secondary offers. When a buyer submits a secondary offer, a a date or Deadline, then performance within a reasonable time of the date or Deadline is allowed before a breach occurs. buyer includes a deadline on line 316 before which the buyer will not withdraw the buyer’s secondary 325 TITLE EVIDENCE offer. The provision prevents a buyeroffrom withdrawing a secondary beforebythe deadline 326 ■ CONVEYANCE OF TITLE: Upon payment the purchase price, Seller shall convey offer the Property warranty deed and 327 (trustee’s deed if interest. Seller is a trust, personal representative’s deed if Seller is an estate or other conveyance as protects a seller’s 328 provided herein), free and clear of all liens and encumbrances, except: municipal and zoning ordinances and agreements A329 seller accepts a primary with for a closing of buyer’s contingency. Thebuilding sellerand receives a entered under them, recorded offer easements the distribution of utility property and municipal services, recorded use secondary offer provides notice tothe theProperty primary buyer, oftriggering thedisclosed buyer’sindeadline to Estate waive the 330 restrictions and and covenants, present uses of in violation the foregoing Seller’s Real 331 Condition Report in this Offer, general taxes levied in the closing and ___________________________________ contingency. Theandbuyer, according to line 310 ofyear theofbuyer’s offer, has 72 hours to waive the contin332 _________________________________________________________________________________________________ gency. The buyer who submitted the secondary offer puts 2 days on line 316 of the offer. _____ On Day 333 _________________________________________________________________________________________________ _____ 2,334the buyer who submitted the secondary offer withdraws the offer. The next day, the primary _________________________________________________________________________________________________ _____buyer does not constitutes deliver a merchantable notice waiving thepurposes financing contingency. The seller has and gone fromthe having two offer 335 which title for of this transaction. Seller shall complete execute documents 336 necessary to record the conveyance at Seller’s cost and pay the Wisconsin Real Estate Transfer Fee. to zero offers. 337 WARNING: Municipal and zoning ordinances, recorded building and use restrictions, covenants and easements may A338 seller accepts a primary offer withanda therefore closing should of buyer’s property contingency. The seller making receives a prohibit certain improvements or uses be reviewed, particularly if Buyer contemplates secondary offer toand provides notice to the buyer, triggering the buyer’s deadline to waive the 339 improvements Property or a use other than the primary current use. Property Address: _________________________________________________________________________________________________________Page 7 of 9, WB-11 340 ■ TITLE EVIDENCE: Seller shall give evidence of title in the an owner's policyhas of title amountthe of the contingency. The buyer, according to line 310 of form the ofbuyer’s offer, 72insurance hours intothewaive contin304 CLOSING OF BUYER'S PROPERTY CONTINGENCY: This Offer is contingent upon the closing of the sale of Buyer's 341 purchase price on a current ALTA form issued by an insurer licensed to write title insurance in Wisconsin. Seller shall pay all gency. Thelocated buyer who submitted the secondary offer puts 2 no days on line 316 of theIfoffer. The seller, 305 property at _____________________________________________, later than ______________. Seller accepts 342 costs of providing title evidence to Buyer. Buyer shall pay all costs of providing title evidence required by Buyer’s lender. recognizing the secondary buyer couldnotice withdraw secondary offer before thetoprimary buyer has 306 a bona fidethat secondary offer, Seller may give written to Buyerthe of acceptance. If Buyer does not deliver Seller a written 343 ■ GAP ENDORSEMENT: Seller shall provide a “gap” endorsement or equivalent gap coverage at (Seller’s)(Buyer’s) 307 waiver of the Closing of Buyer's Property Contingency and _________________________________________________ _ to344 waive the contingency, counters the secondary offer with a four-day deadline before the secondary STRIKE ONE (“Seller’s” if neither stricken) cost to provide coverage for any liens or encumbrances first filed or recorded____ after 308 _____________________________________________________________________________________________________ 345 the effective date of the title insurance commitment and before the deed is recorded, subject to the title insurance policy offer can be withdrawn. 309 [INSERT OTHER REQUIREMENTS, IF ANY (e.g., PAYMENT OF ADDITIONAL EARNEST MONEY, WAIVER OF ALL 346 exclusions and exceptions, provided the title company will issue the endorsement. If a gap endorsement or equivalent gap A347 licensee must understand howgive these work the licensee can help sellers 310 CONTINGENCIES, OR PROVIDING EVIDENCE OF SALE OR LOAN,so etc.)] within ____ hours of Buyer's Actualevalucoverage is not available, Buyer may writtendeadlines notice that title isBRIDGE nottogether acceptable for closing (see lines 353-359). 311 secondary Receipt of said notice, this Offer shall be null and void. ate offers and how to use them with primary offers that contain a closing of buyer’s 348 ■ PROVISION OF MERCHANTABLE TITLE: For purposes of closing, title evidence shall be acceptable if the required property title 312 SECONDARY OFFER: This Offer is secondary toora Buyer prior accepted offer.5This Offer shall primaryshowing upon delivery 349 insurance commitment is delivered to Buyer's attorney notthe lessseller than business days become before closing, titleatoseller contingency. If a seller understands these deadlines, can prevent the situation where 313 of written notice to Buyer that this Offer is primary. Unless otherwise provided, Seller is not obligated to give Buyer notice prior 350 the Property as of amultiple date no more thanto 15having days before goes from having offers no delivery offers.of such title evidence to be merchantable per lines 326-335, 314 to any deadline, nor is any particular secondary buyer given the right to be made primary ahead of other secondary buyers. 351 subject only to liens which will be paid out of the proceeds of closing and standard title insurance requirements and 315 Buyer may declare this Offer null and void by delivering written notice of withdrawal to Seller prior to delivery of Seller's notice 352 exceptions, as appropriate. 316 that318-324 this Offer isTime primary.isBuyer may Essence not deliver notice of withdrawal earlier than _____ days after acceptance of this Offer. All Lines of the 353 ■ TITLE NOT ACCEPTABLE FOR CLOSING: If title is not acceptable for closing, Buyer shall notify Seller in writing of 317 other Offer deadlines which are run from acceptance shall run from the time this Offer becomes primary. 354 objections to title by the time set for closing. In such event, Seller shall have a reasonable time, but not exceeding 15 days, to 318 TIME IS OF THE ESSENCE “Time is of the Essence” as to: (1) earnest money payment(s); (2) binding acceptance; (3) 355 remove the objections, and the time for closing shall be extended as necessary for this purpose. In the event that Seller is 319 occupancy; (4) date of closing; (5) contingency Deadlines STRIKE AS APPLICABLE and all other dates and Deadlines in this 356 unable to remove said objections, Buyer shall have 5 days from receipt of notice thereof, to deliver written notice waiving the 320 Offer except: _________________________________________________________________________________________ 357 objections, and the time for closing shall be extended accordingly. If Buyer does not waive the objections, this Offer shall be 321 _________________________________________________________________________________________________ _____ 358 null and void. Providing title evidence acceptable for closing does not extinguish Seller's obligations to give 322 ______________________________________________________________. If “Time is of the Essence” applies to a date or 359 merchantable title to Buyer. 323 Deadline, failure to perform by the exact date or Deadline is a breach of contract. If "Time is of the Essence" does not apply to 324 a date or Deadline, then performance within a reasonable time of the date or Deadline is allowed before a breach occurs. 325 TITLE EVIDENCE 326 ■ CONVEYANCE OF TITLE: Upon payment of the purchase price, Seller shall convey the Property by warranty deed Time is of the essence means that a responsible party must perform all contractual obligations by the 327 (trustee’s deed if Seller is a trust, personal representative’s deed if Seller is an estate or other conveyance as stated deadline or the party will be in breach of contract. Parties can decide to have deadlines where 328 provided herein), free and clear of all liens and encumbrances, except: municipal and zoning ordinances and agreements time is notunder of the essence strikingforthem from lines 318-319 or byservices, listing recorded the deadlines where 329 entered them, recorded by easements the distribution of utility and municipal building and use time is330 not of the essence on lines time isinnot of the essence, the inresponsible party must restrictions and covenants, present320-322. uses of theIfProperty violation of the foregoing then disclosed Seller’s Real Estate 331 Condition Report and in this Offer,time. generalDetermining taxes levied in the year of and ___________________________________ perform within a reasonable what isclosing a reasonable time for performance will depend _________________________________________________________________________________________________ _____ on332the facts of each situation and also local custom and practice. 333 _________________________________________________________________________________________________ _____ 334 _________________________________________________________________________________________________ _____ 335 which constitutes merchantable title for purposes of this transaction. Seller shall complete and execute the documents 336 necessary to record the conveyance at Seller’s cost and pay the Wisconsin Real Estate Transfer Fee. 337 WARNING: Municipal and zoning ordinances, recorded building and use restrictions, covenants and easements may 148 338 prohibit certain improvements or uses and therefore should be reviewed, particularly if Buyer contemplates making 339 improvements to Property or a use other than the current use. 304 305

that this Offer is primary. Buyer may not deliver notice of withdrawal earlier than _____ days after acceptance of this Offer. All other Offer deadlines which are run from acceptance shall run from the time this Offer becomes primary. 318 TIME IS OF THE ESSENCE “Time is of the Essence” as to: (1) earnest money payment(s); (2) binding acceptance; (3) Offers to Purchase 319 occupancy; (4) date of closing; (5) contingency Deadlines STRIKE AS APPLICABLE and all other dates and Deadlines in this - 10 320 Offer except: _________________________________________________________________________________________ 321 _________________________________________________________________________________________________ _____ 322 ______________________________________________________________. If “Time is of the Essence” applies to a date or Lines 325-359 Evidence 323 Deadline, failureTitle to perform by the exact date or Deadline is a breach of contract. If "Time is of the Essence" does not apply to 324 a date or Deadline, then performance within a reasonable time of the date or Deadline is allowed before a breach occurs. 325 TITLE EVIDENCE 326 ■ CONVEYANCE OF TITLE: Upon payment of the purchase price, Seller shall convey the Property by warranty deed 327 (trustee’s deed if Seller is a trust, personal representative’s deed if Seller is an estate or other conveyance as 328 provided herein), free and clear of all liens and encumbrances, except: municipal and zoning ordinances and agreements 329 entered under them, recorded easements for the distribution of utility and municipal services, recorded building and use 330 restrictions and covenants, present uses of the Property in violation of the foregoing disclosed in Seller’s Real Estate 331 Condition Report and in this Offer, general taxes levied in the year of closing and ___________________________________ 332 _________________________________________________________________________________________________ _____ 333 _________________________________________________________________________________________________ _____ 334 _________________________________________________________________________________________________ _____ 335 which constitutes merchantable title for purposes of this transaction. Seller shall complete and execute the documents 336 necessary to record the conveyance at Seller’s cost and pay the Wisconsin Real Estate Transfer Fee. 337 WARNING: Municipal and zoning ordinances, recorded building and use restrictions, covenants and easements may 338 prohibit certain improvements or uses and therefore should be reviewed, particularly if Buyer contemplates making 339 improvements to Property or a use other than the current use. 340 ■ TITLE EVIDENCE: Seller shall give evidence of title in the form of an owner's policy of title insurance in the amount of the 341 purchase price on a current ALTA form issued by an insurer licensed to write title insurance in Wisconsin. Seller shall pay all 342 costs of providing title evidence to Buyer. Buyer shall pay all costs of providing title evidence required by Buyer’s lender. 343 ■ GAP ENDORSEMENT: Seller shall provide a “gap” endorsement or equivalent gap coverage at (Seller’s)(Buyer’s) 344 STRIKE ONE (“Seller’s” if neither stricken) cost to provide coverage for any liens or encumbrances first filed or recorded after 345 the effective date of the title insurance commitment and before the deed is recorded, subject to the title insurance policy 346 exclusions and exceptions, provided the title company will issue the endorsement. If a gap endorsement or equivalent gap 347 coverage is not available, Buyer may give written notice that title is not acceptable for closing (see lines 353-359). 348 ■ PROVISION OF MERCHANTABLE TITLE: For purposes of closing, title evidence shall be acceptable if the required title 349 insurance commitment is delivered to Buyer's attorney or Buyer not less than 5 business days before closing, showing title to 350 the Property as of a date no more than 15 days before delivery of such title evidence to be merchantable per lines 326-335, 351 subject only to liens which will be paid out of the proceeds of closing and standard title insurance requirements and 352 exceptions, as appropriate. 353 ■ TITLE NOT ACCEPTABLE FOR CLOSING: If title is not acceptable for closing, Buyer shall notify Seller in writing of 354 objections to title by the time set for closing. In such event, Seller shall have a reasonable time, but not exceeding 15 days, to 355 remove the objections, and the time for closing shall be extended as necessary for this purpose. In the event that Seller is 356 unable to remove said objections, Buyer shall have 5 days from receipt of notice thereof, to deliver written notice waiving the 357 objections, and the time for closing shall be extended accordingly. If Buyer does not waive the objections, this Offer shall be 358 null and void. Providing title evidence acceptable for closing does not extinguish Seller's obligations to give 359 merchantable title to Buyer. 316 317

Upon payment of the purchase price, the seller conveys title to the buyer according to the terms listed on lines 326-329. Most buyers will want a warranty deed but the WB-11 states that if the seller is a trustee, the seller conveys the title by a trustee’s deed and if the seller is an estate, the seller conveys title by a personal representative’s deed. Parties can agree to other methods of conveying title but the default terms of the WB-11 specify the kind of deed a seller must provide according to the role of the seller. Parties list exceptions to the title on lines 331-334. Exceptions to title might include a joint driveway that is not declared elsewhere. Lines 335-336 state that the seller is responsible for recording the deed conveyance and pays the Wisconsin Real Estate Transfer Fee. Sellers provide evidence of title to a buyer by providing title insurance. The seller pays the cost of providing the title evidence policy to the buyer and the buyer pays the cost of providing title insurance to the lender. A buyer making an offer allocates responsibility for providing a “gap” endorsement to the title insurance policy. If a buyer does not make a choice, the seller is responsible for providing the gap endorsement. A seller must provide evidence of merchantable title to a buyer not less than 5 days before closing. If a seller cannot provide merchantable title to a buyer before closing, a buyer can rescind the offer according to the terms in the title not acceptable for closing provisions. Conditions that might make a title not acceptable for closing might include a seller’s inability to provide a gap endorsement or other title defects. If a buyer finds that the title is not acceptable for closing, the buyer identifies the objec-

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REAL ESTATE SALES

tions and a seller has a reasonable time to address the objections. A reasonable time is less than 15 days. If a seller cannot clear the objections, a buyer has five business days from receipt of the seller’s notice to deliver a waiver of the objections. If the buyer does not waive the objections, the offer is no longer valid. Lines 360-368 Special Assessments/Other Expense

Page 8 of 9, WB-11

■ SPECIAL ASSESSMENTS/OTHER EXPENSES: Special assessments, if any, levied or for work actually commenced prior 361 to the date of this Offer shall be paid by Seller no later than closing. All other special assessments shall be paid by 362 Buyer. 363 CAUTION: Consider a special agreement if area assessments, property owners association assessments, special 364 charges for current services under Wis. Stat. § 66.0627 or other expenses are contemplated. “Other expenses” are 365 one-time charges or ongoing use fees for public improvements (other than those resulting in special assessments) 366 relating to curb, gutter, street, sidewalk, municipal water, sanitary and storm water and storm sewer (including all 367 sewer mains and hook-up/connection and interceptor charges), parks, street lighting and street trees, and impact 368 fees for other public facilities, as defined in Wis. Stat. § 66.0617(1)(f). 369 EARNEST MONEY 370 ■ HELD BY: Unless otherwise agreed, earnest money shall estate be paid tofor andcertain held in the trust account of theOften, listing broker Special assessments are costs assessed to real public projects. municipali371 (Buyer's agent if Property is not listed or Seller's account if no broker is involved), until applied to the purchase price or of the ties will assess special assessments for public projects that will affect or benefit a specific part 372 otherwise disbursed as provided in the Offer. community. For example, a city may levy special assessments against properties in Page a neighborhood WB-11 373 CAUTION: Should persons other than a broker hold earnest money, an escrow agreement should be drafted8 of by9, the when the city is repairing sidewalks or sewers in that neighborhood. Lines 360-362 allocate special 360 SPECIAL ASSESSMENTS/OTHER if any,oflevied or formoney, work actually commenced prior 374 ■ Parties or an attorney. If someoneEXPENSES: other thanSpecial Buyerassessments, makes payment earnest consider a special assessments that already been levied or where workAllhas prior shall to the datebyof the 361 the date of this have Offer shall be paid by Seller no later than closing. othercommenced special assessments be paid 375 to disbursement agreement. 362 376 Buyer. ■to DISBURSEMENT: If negotiations do is notresponsible result in an accepted offer, the earnest money shall be promptly Buyers disbursed and (after sellers offer the seller and the buyer for all other special assessments. 363 Consider adepository special agreement area assessments, association assessments, special allo377 CAUTION: clearance this from payor's institution if if earnest money caution is paid byproperty check) toowners the whoapaid the earnest money. can modify arrangement and lines 363-368 buyers to person(s) consider special agreement 364 forearnest currentmoney services Wis. Stat. § 66.0627 or other contemplated. “Other 378 charges At closing, shallunder be disbursed according the closingexpenses statement.are If this Offer does not close,expenses” the earnestare cating costscharges if there are future projects that improvements willtoaffect a property. The seller isinto pay the seller’s costs 365 or ongoing use fees public disbursement (other than those special assessments) 379 one-time money shall be disbursed according to for a written agreement signed byresulting all Parties to this Offer. If said for366 special assessments and other expenses no later closing. to curb, gutter, has street, sidewalk, municipal water, sanitary storm water andclosing, stormbroker sewermay (including 380 relating disbursement agreement not been delivered to broker within 60 than days and after the date set for disburseall 367 mains and hook-up/connection and interceptor charges),the parks, streetand lighting andrepresent street trees, and impact 381 sewer the earnest money: (1) as directed by an attorney who has reviewed transaction does not Buyer or Seller; Lines 369-394 Earnest Money 368 foraother defined Wis. Stat. § 66.0617(1)(f). 382 fees (2) into court public hearingfacilities, a lawsuit as involving theinearnest money and all Parties to this Offer; (3) as directed by court order; or (4) 369 EARNEST MONEY 383 any other disbursement required or allowed by law. Broker may retain legal services to direct disbursement per (1) or to file an 370 HELD BY:action Unless agreed, earnest shall be paid to and the reasonable trust account of the fees, listingnot broker 384 ■ interpleader perotherwise (2) and broker may deductmoney from the earnest money anyheld costsinand attorneys to 371 agentprior if Property is not listed or Seller's account if no broker is involved), until applied to the purchase price or 385 (Buyer's exceed $250, to disbursement. 372 as provided in the disbursement Offer. 386 otherwise ■ LEGAL disbursed RIGHTS/ACTION: Broker's of earnest money does not determine the legal rights of the Parties in 373 Should than a broker earnest escrow agreement by to the 387 CAUTION: relation to this Offer.persons Buyer's orother Seller's legal right tohold earnest moneymoney, cannot an be determined by broker.should At leastbe 30drafted days prior 374 or anperattorney. If someone thanBuyer Buyer payment earnest money, consider a special 388 Parties disbursement (1) or (4) above, broker other shall send and makes Seller notice of the of disbursement by certified mail. If Buyer or 375 389 disbursement Seller disagree agreement. with broker's proposed disbursement, a lawsuit may be filed to obtain a court order regarding disbursement. 376 DISBURSEMENT: If negotiations do not in an accepted offer, the earnest money be promptly disbursed 390 ■ Small Claims Court has jurisdiction over all result earnest money disputes arising out of the saleshall of residential property with (after 1-4 377 fromand payor's depository institution if earnest paid by check) the person(s) whoattorneys paid theregarding earnest money. 391 clearance dwelling units certain other earnest money disputes.money Buyer is and Seller should to consider consulting their 378 closing, earnest shall to agree the closing If this Offer does close, the earnest 392 At legal rights under thismoney Offer in casebeofdisbursed a dispute. according Both Parties to holdstatement. the broker harmless from any not liability for good faith 379 shall be according to a written by allofParties to this If said 393 money disbursement of disbursed earnest money in accordance withdisbursement this Offer oragreement applicable signed Department Regulation andOffer. Licensing 380 agreement has not beenSee delivered to broker within 60 18. days after the date set for closing, broker may disburse 394 disbursement regulations concerning earnest money. Wis. Admin. Code Ch. RL 381 earnest money: as directed by an who has reviewedorthe transaction does not represent Buyer Seller; 395 the INSPECTIONS AND(1) TESTING Buyer mayattorney only conduct inspections tests if specific and contingencies are included as aorpart of 382 a court hearing a lawsuit involving earnest money all Parties this not Offer; (3) asandirected by or court order; 396 (2) thisinto Offer. An “inspection” is defined as anthe observation of the and Property whichtodoes include appraisal testing of or the(4) 383 other disbursement required or allowed by monoxide, law. Brokerormay retain services to or direct disbursement pera(1) to file an 397 any Property, other than testing for leaking carbon testing forlegal leaking LP gas natural gas used as fuelorsource, 384 actionauthorized. per (2) andAbroker may deduct the earnest moneyofany costs and attorneys not to 398 interpleader which are hereby “test” is defined asfrom the taking of samples materials suchreasonable as soils, water, air orfees, building 385 $250, to disbursement. 399 exceed materials fromprior the Property and the laboratory or other analysis of these materials. Seller agrees to allow Buyer’s inspectors, 386 LEGAL Broker's disbursement of earnest money does notifdetermine legal rights of the Partiesin in 400 ■ testers andRIGHTS/ACTION: appraisers reasonable access to the Property upon advance notice, necessarythe to satisfy the contingencies 387 to this Offer. Buyer's or Seller's legal right toatearnest money cannot be determined At least 30 days prior to 401 relation this Offer. Buyer and licensees may be present all inspections and testing. Except by asbroker. otherwise provided, Seller’s 388 perinspections (1) or (4) above, broker shall Buyer send Buyer and Seller the disbursement by certified mail. If Buyer or 402 disbursement authorization for does not authorize to conduct testingnotice of the of Property. 389 with broker's proposed testing disbursement, lawsuitthe may be filed to obtain a court regarding disbursement. 403 Seller NOTE:disagree Any contingency authorizing should aspecify areas of the Property to beorder tested, the purpose of the 390 Claims has jurisdiction over allcontamination earnest moneyis disputes out of the on sale of residential 1-4 404 Small test, (e.g., to Court determine if environmental present),arising any limitations Buyer's testing property and anywith other 391 and other earnest money disputes. Buyer and Seller should consider consulting attorneys regarding their 405 dwelling materialunits terms of certain the contingency. 392 under this Offerrestore in casethe of aProperty dispute. to Both to hold brokerinspections harmless from liability good faith 406 legal Buyerrights agrees to promptly its Parties original agree condition afterthe Buyer’s andany testing arefor completed 393 of agreed earnesttomoney in accordance this Offer or applicable Department and toLicensing 407 disbursement unless otherwise with Seller. Buyer agreeswith to promptly provide copies of all inspection of andRegulation testing reports Seller. 394 concerning earnest See Wis. Admin. RL 18. 408 regulations Seller acknowledges that certainmoney. inspections or tests may Code detectCh. environmental pollution which may be required to be reported 395 INSPECTIONS TESTING Buyer may only conduct inspections or tests if specific contingencies are included as a part of 409 to the WisconsinAND Department of Natural Resources. this Offer. An “inspection” is defined as an observation of the doesdeposits not includethe an appraisal of the broIf 396 a buyer submits earnest money with an offer, theProperty listingwhich broker moneyorintesting the listing 397 Property, other than testing for leaking carbon monoxide, or testing for leaking LP gas or natural gas used as a fuel source, ker’s trust account. If the property is not listed and the seller is selling for-sale-by-owner, the buyer’s 398 which are hereby authorized. A “test” is defined as the taking of samples of materials such as soils, water, air or building 399 materials from the Property and the laboratory or other analysis of these materials. Seller agrees to allow Buyer’s inspectors, 400 testers and appraisers reasonable access to the Property upon advance notice, if necessary to satisfy the contingencies in 401 this Offer. Buyer and licensees may be present at all inspections and testing. Except as otherwise provided, Seller’s 150402 authorization for inspections does not authorize Buyer to conduct testing of the Property. 403 NOTE: Any contingency authorizing testing should specify the areas of the Property to be tested, the purpose of the 404 test, (e.g., to determine if environmental contamination is present), any limitations on Buyer's testing and any other 360

Offers to Purchase - 10

agent holds the earnest money in the agent’s trust account. If no broker is involved in the sale and the parties are directly negotiating the transaction, the seller holds the earnest money. Lines 373-375 caution the parties that if someone other than the listing broker is holding the earnest money, the parties should consider an escrow agreement and if someone other than the buyer paid the earnest money, then the parties should consider an additional agreement for disbursing the earnest money. Licensees Page parties 8 of 9, WB-11or an do not draft escrow agreements or other special agreements between the parties. The 360 ■ SPECIAL ASSESSMENTS/OTHER EXPENSES: Special assessments, if any, levied or for work actually commenced prior attorney can draft those agreements. 361

to the date of this Offer shall be paid by Seller no later than closing. All other special assessments shall be paid by

If 362 a Buyer. transaction closes, the closing statement specifies how to disburse the earnest money. Lines 363 CAUTION: Consider a special agreement if area assessments, property owners association assessments, special 376-395 dictate disbursement of earnest money if the transaction does not close. If a buyer submits 364 charges for current services under Wis. Stat. § 66.0627 or other expenses are contemplated. “Other expenses” are an365offer thatcharges the seller does use notfees accept or the buyer withdraws the offer, the listing broker or the party one-time or ongoing for public improvements (other than those resulting in special assessments) holding the earnest money returns it to the person who paid it. Usually this is the buyer, but itallcould 366 relating to curb, gutter, street, sidewalk, municipal water, sanitary and storm water and storm sewer (including sewer mains and hook-up/connection andbuyer’s interceptor charges), parks, street lighting and street trees, and impact be367another person who paid it on the behalf. 368

fees for other public facilities, as defined in Wis. Stat. § 66.0617(1)(f).

385

exceed $250, prior to disbursement.

EARNEST MONEY If 369 a transaction fails to close, the person holding the earnest money disburses it according to terms of ■ HELD BY: Unless otherwise agreed, earnest money shall be paid held in the listing broker a 370 written agreement signed by all parties to the offer. If to theandparties do trust not account deliverofathe written disburse371 (Buyer's agent if Property is not listed or Seller's account if no broker is involved), until applied to the purchase price or ment agreement to the listing broker within 60 days of the date set for closing, the listing broker has 372 otherwise disbursed as provided in the Offer. four options for disbursing the earnest money. Lines 381-395 provide instructions to a listing broker 373 CAUTION: Should persons other than a broker hold earnest money, an escrow agreement should be drafted by the holding earnest transaction to close. The oflisting broker can seek an attorney’s 374 Parties or an money attorney. inIf asomeone other that than failed Buyer makes payment earnest money, consider a special 375 disbursement agreement. opinion and disburse it according to the directions of the attorney who reviewed the transaction. The 376 ■ DISBURSEMENT: If negotiations do not result in an accepted offer, the earnest money shall be promptly disbursed (after listing broker can disburse it to a court that is hearing a suit involving the earnest money and the par377 clearance from payor's depository institution if earnest money is paid by check) to the person(s) who paid the earnest money. ties. The listing broker can disburse it according to a court order or the listing broker can disburse 378 At closing, earnest money shall be disbursed according to the closing statement. If this Offer does not close, the earnest it 379 in money any other manner allowed bytolaw. If a disbursement broker hasagreement to seek signed an attorney’s opinion joinIf asaid lawsuit shall be disbursed according a written by all Parties to this or Offer. to380determine to disburse the delivered earnesttomoney, the60broker can upclosing, to $250 from earnest disbursementhow agreement has not been broker within days after the deduct date set for broker may the disburse 381 the earnest money: as directed by an attorney has actions. reviewed theIftransaction does or Seller; money to cover any(1)costs associated with who those a brokerand had to not userepresent one ofBuyer the four options 382 (2) into a court hearing a lawsuit involving the earnest money and all Parties to this Offer; (3) as directed by court order; or (4) to determine how to disburse the earnest money, the broker then must notify the parties at least 30 383 any other disbursement required or allowed by law. Broker may retain legal services to direct disbursement per (1) or to file an days before actually disbursing the money. 384 interpleader action per (2) and broker may deduct from the earnest money any costs and reasonable attorneys fees, not to

Lines 386-394 inform the parties that disbursement by a broker does not determine the parties legal 386 ■ LEGAL RIGHTS/ACTION: Broker's disbursement of earnest money does not determine the legal rights of the Parties in rights to the earnest money and legal thatright if parties with how thebybroker disbursed 387 relation to this Offer. Buyer's or Seller's to earnestdisagree money cannot be determined broker. At least 30 daysthe priormoney, to the retain theor right to file anshall action regarding thenotice earnest money. Importantly, 392-394 388 parties disbursement per (1) (4) above, broker send Buyer and Seller of the disbursement by certified mail.lines If Buyer or 389 Seller withthat broker's a lawsuit may befrom filed toany obtain a court for ordergood regarding disbursement. inform thedisagree parties the proposed broker disbursement, shall be held harmless liability faith disbursement 390 Small Claims Court has jurisdiction over all earnest money disputes arising out of the sale of residential property with 1-4 according to one of the four options presented for brokers. Small claims courts hear cases involving 391 dwelling units and certain other earnest money disputes. Buyer and Seller should consider consulting attorneys regarding their disbursement of earnest money. 392 legal rights under this Offer in case of a dispute. Both Parties agree to hold the broker harmless from any liability for good faith 393 disbursement earnest moneyand in accordance Lines 395-409 ofInspections Testing with 394 395 396 397 398 399 400 401 402 403 404 405 406 407 408 409

this Offer or applicable Department of Regulation and Licensing regulations concerning earnest money. See Wis. Admin. Code Ch. RL 18. INSPECTIONS AND TESTING Buyer may only conduct inspections or tests if specific contingencies are included as a part of this Offer. An “inspection” is defined as an observation of the Property which does not include an appraisal or testing of the Property, other than testing for leaking carbon monoxide, or testing for leaking LP gas or natural gas used as a fuel source, which are hereby authorized. A “test” is defined as the taking of samples of materials such as soils, water, air or building materials from the Property and the laboratory or other analysis of these materials. Seller agrees to allow Buyer’s inspectors, testers and appraisers reasonable access to the Property upon advance notice, if necessary to satisfy the contingencies in this Offer. Buyer and licensees may be present at all inspections and testing. Except as otherwise provided, Seller’s authorization for inspections does not authorize Buyer to conduct testing of the Property. NOTE: Any contingency authorizing testing should specify the areas of the Property to be tested, the purpose of the test, (e.g., to determine if environmental contamination is present), any limitations on Buyer's testing and any other material terms of the contingency. Buyer agrees to promptly restore the Property to its original condition after Buyer’s inspections and testing are completed unless otherwise agreed to with Seller. Buyer agrees to promptly provide copies of all inspection and testing reports to Seller. Seller acknowledges that certain inspections or tests may detect environmental pollution which may be required to be reported to the Wisconsin Department of Natural Resources.

151

REAL ESTATE SALES

Buyers may want to make an offer contingent on certain inspections and testing of the property. A buyer does not automatically have the right to inspect or test a property for any condition but must include those provisions separately as contingencies to the offer. Lines 395-409 define inspection and testing so that buyers will know what contingencies they must include to address their concerns. An inspection is limited to an observation of the property. It does not include appraisals or testing of the property except testing for leaking carbon monoxide, liquid propane, or natural gas used as a fuel source. Lines 398-399 define a test as taking samples of materials for analysis. If a buyer includes inspection or testing contingencies in an offer, a seller agrees to permit access to the property with advance notice from the buyer and the buyer agrees to restore the property to its original condition and to provide the seller with copies of any inspection or testing reports. Buyers and licensees can be present for inspections and testing of the property. The note at lines 403-405 instruct a buyer to draft testing contingencies specifically and to include the areas subject to testing, the purpose of the test, and any limitations on the buyer’s ability to test the property. Buyers should also be sure to include responsibility for testing costs, deadlines for completion, and the effect on the offer depending on the results of tests. Lines 410-433 Inspection Contingency

Property Address: _________________________________________________________________________________________________________Page 9 of 9, WB-11

INSPECTION CONTINGENCY: This contingency only authorizes inspections, not testing (see lines 395-409). This Offer is contingent upon a Wisconsin registered home inspector performing a home inspection of the Property which discloses 412 no Defects. This Offer is further contingent upon a qualified independent inspector or independent qualified third party 413 performing an inspection of _____________________________________________________________________________ 414 _____________________________________________ (list any Property component(s) to be separately inspected, e.g., 415 swimming pool, roof, foundation, chimney, etc.) which discloses no Defects. Buyer shall order the inspection(s) and be 416 responsible for all costs of inspection(s). Buyer may have follow-up inspections recommended in a written report resulting 417 from an authorized inspection, provided they occur prior to the deadline specified at line 421. Inspection(s) shall be performed 418 by a qualified independent inspector or independent qualified third party. 419 CAUTION: Buyer should provide sufficient time for the home inspection and/or any specialized inspection(s), as well 420 as any follow-up inspection(s). 421 This contingency shall be deemed satisfied unless Buyer, within ________ days of acceptance, delivers to Seller a copy of the 422 written inspection report(s) and a written notice listing the Defect(s) identified in those report(s) to which Buyer objects (Notice 423 of Defects). 424 CAUTION: A proposed amendment is not a Notice of Defects and will not satisfy this notice requirement. 425 For the purposes of this contingency, Defects (see lines 182-184) do not include structural, mechanical or other conditions the 426 nature and extent of which Buyer had actual knowledge or written notice before signing this Offer. 427 ■ RIGHT TO CURE: Seller (shall)(shall not) STRIKE ONE (“shall” if neither is stricken) have a right to cure the Defects. If 428 Seller has the right to cure, Seller may satisfy this contingency by: (1) delivering written notice to Buyer within 10 days of 429 Buyer's delivery of the Notice of Defects stating Seller’s election to cure Defects; (2) curing the Defects in a good and 430 workmanlike manner; and (3) delivering to Buyer a written report detailing the work done within 3 days prior to closing. This 431 Offer shall be null and void if Buyer makes timely delivery of the Notice of Defects and written inspection report(s) and: (1) 432 Seller does not have a right to cure or (2) Seller has a right to cure but: (a) Seller delivers written notice that Seller will not cure 433 or (b) Seller does not timely deliver the written notice of election to cure. 434 ADDENDA: The attached __________________________________________________ is/are made part of this Offer. The inspectionPROVISIONS/CONTINGENCIES contingency in the offer is____________________________________________________________ for a buyer to have a home inspection. It does not authorize 435 ADDITIONAL additional testing of the property and a buyer must address additional tests using testing contingen436 ____________________________________________________________________________________________________ 437 ____________________________________________________________________________________________________ cies. A Wisconsin registered home inspector performs the home inspection and a buyer can include 438 ____________________________________________________________________________________________________ additional inspections of specific property components on lines 413-414. If an authorized inspection 439 ____________________________________________________________________________________________________ report includes recommendations for follow-up inspections, a buyer can order the follow-up inspections 440 ____________________________________________________________________________________________________ as441long as they occur prior to the deadlines on line 421. ____________________________________________________________________________________________________ If 442 an____________________________________________________________________________________________________ inspection reveals defects, buyers can choose to try to amend the offer or provide a notice of 410 411

443 This Offer wasseller. drafted byDefects, [Licensee and _______________________________________________________________ defects to the for Firm] the purposes of the inspection contingency, do not include defects that the buyer knew about through disclosure on the seller’s real estate condition report or some 444 _____________________________________________________________ on _______________________________ _____. other method. If a buyer does not provide a notice of defects to the seller by the deadline on line 421, this 445 (x) _________________________________________________________________________________________________ contingency is satisfied. A licensee drafting an offer must pay careful attention to the timing of a buy446 Buyer’s Signature▲ Print Name Here► Date▲ er’s inspections and any subsequent action including proposing amendments and providing a notice of447defects. When deciding on a deadline for performance on line 421, a licensee and buyer must first (x) _________________________________________________________________________________________________ 448 449

Buyer’s Signature▲ Print Name Here►

Date▲

EARNEST MONEY RECEIPT Broker acknowledges receipt of earnest money as per line 10 of the above Offer.

152 450 ________________________________________________ Broker (By) _________________________________________ 451 SELLER 452

ACCEPTS THIS OFFER. THE WARRANTIES, REPRESENTATIONS AND COVENANTS MADE IN THIS OFFER SURVIVE CLOSING AND THE CONVEYANCE OF THE PROPERTY. SELLER AGREES TO CONVEY THE PROPERTY

Offers to Purchase - 10

be sure to make the deadline long enough for completion of the initial inspections and any follow-up inspections. If an inspection report orders additional inspections, and a buyer fails to provide a notice of defects by the deadline because the buyer was waiting for or trying to arrange the follow-up inspections, the buyer has waived the inspection contingency even if the initial inspection revealed defects or the follow-up inspections did not occur. Additionally, a licensee and a buyer must make sure that the deadline permits enough time to negotiate through amendments if inspection reports include defects and provide a notice of defects if negotiation through amendments is unsuccessful or withhold the notice and waive the contingency. Property Address: _________________________________________________________________________________________________________Page 9 of 9, WB-11

An additional component CONTINGENCY: of the inspection that buyersinspections, and licensees must(see understand is This 410 INSPECTION Thiscontingency contingency only authorizes not testing lines 395-409). the right cure provision. including an home inspection in an offer, aofbuyer can choose 411 to Offer is contingent uponWhen a Wisconsin registered inspectorcontingency performing a home inspection the Property which discloses Defects. ThistoOffer further contingent upon a a qualified or independent qualified the third party to give412a no seller a right cureis defects. By providing noticeindependent of defectsinspector to a seller, a buyer triggers performing anthe inspection of if _____________________________________________________________________________ seller’s413right to cure defects the buyer gave the seller that right in the offer. If a buyer did not give 414 _____________________________________________ (list any Property component(s) to be separately inspected, e.g., a seller a right to cure, providing a notice of defects to the seller makes the offer null and void so if a 415 swimming pool, roof, foundation, chimney, etc.) which discloses no Defects. Buyer shall order the inspection(s) and be buyer 416 does not want offer, the buyer might try toinspections amend the offer before it with responsible for to all void costs the of inspection(s). Buyer may havefirst follow-up recommended in avoiding written report resulting a notice defects to theinspection, seller. If a buyer a seller right tospecified cure, the seller can choose tobecure 417 of from an authorized provided theygives occur prior to theadeadline at line 421. Inspection(s) shall performed 418 by a independent qualified third offer party. become null and void. If a seller has the defects orqualified can choose not inspector to cure or theindependent defects and let the 419 CAUTION: Buyer should provide sufficient time for the home inspection and/or any specialized inspection(s), as well a right to cure and chooses to cure, the seller agrees to cure the defects in a good and workmanlike 420 as any follow-up inspection(s). manner deliver a report the work done within days prior todays closing. A seller whotoreceives a of the 421 and This contingency shall be of deemed satisfied unless Buyer,3within ________ of acceptance, delivers Seller a copy inspection report(s) and a written notice listing the Defect(s) in those report(s)the to which Buyerelection objects (Notice notice 422 of written defects and chooses to cure must provide a notice toidentified the buyer indicating seller’s 423 of Defects). to cure. The seller must provide this notice within 10 days of receiving the buyer’s notice of defects. A 424 CAUTION: A proposed amendment is not a Notice of Defects and will not satisfy this notice requirement. notice 425 of For defects to a seller always be accompanied bydo the report. Even ifor an inspecthe purposes of this must contingency, Defects (see lines 182-184) notinspection include structural, mechanical other conditions the tion report does reveal defects or aactual buyer chooses not tonotice givebefore notice to the 426 nature andnot extent of which Buyer had knowledge or written signing this seller, Offer. the buyer must 427the ■ RIGHT TO CURE: Sellerto (shall)(shall provide inspection reports a seller.not) STRIKE ONE (“shall” if neither is stricken) have a right to cure the Defects. If

Seller has the right to cure, Seller may satisfy this contingency by: (1) delivering written notice to Buyer within 10 days of Buyer's delivery of the Notice of Defects stating Seller’s election to cure Defects; (2) curing the Defects in a good and A buyer an offer on aand property containing inspection contingency give thetoseller 430writes workmanlike manner; (3) delivering to Buyer an a written report detailing the workthat donedoes withinnot 3 days prior closing. This 431 to Offer shall The be null and voidinspection if Buyer makes timely deliverydefects of the Notice of Defects and written report(s) the right cure. buyer’s report reveals in the basement walls inspection with repairs esti-and: (1) 432 Seller does not have a right to cure or (2) Seller has a right to cure but: (a) Seller delivers written notice that Seller will not cure mated433 at or$5,000. The buyer likes the property and is reluctant to issue a notice of defects. Because (b) Seller does not timely deliver the written notice of election to cure. the seller does not have the right __________________________________________________ to cure, if the buyer issues a notice of defects to themade seller, 434 ADDENDA: The attached is/are part it of will this Offer. make 435 theADDITIONAL offer null and void. The buyer issues____________________________________________________________ an amendment to the offer to purchase proposing a PROVISIONS/CONTINGENCIES ____________________________________________________________________________________________________ $5,000436reduction in the offered price. The seller receives the amendment and sends back a different 437 ____________________________________________________________________________________________________ amendment reducing the offer price by $400. The buyer’s deadline on line 421 is approaching and the 438 ____________________________________________________________________________________________________ buyer 439 decides to give a notice of defects making the offer null and void. ____________________________________________________________________________________________________ 440 ____________________________________________________________________________________________________ 441 writes ____________________________________________________________________________________________________ A buyer an offer on a property containing an inspection contingency that gives the seller a right 442 The ____________________________________________________________________________________________________ to cure. buyer’s inspection report reveals problems with the roof with repairs estimated at $5000. 428 429

443 This Offer was drafted of by defects [Licensee to andthe Firm] _______________________________________________________________ The buyer issues a notice seller. The seller delivers a notice indicating that the seller does not elect to cure. The offer is now null and void. If the seller issued a notice to the buyer indicat- _____. 444 _____________________________________________________________ on _______________________________ ing that the seller elected to cure, the seller has to cure the defects in a good and workmanlike manner 445 (x) _________________________________________________________________________________________________ and provide a report to the buyer detailing the work done 3 days prior to closing and the parties can 446 Signature▲ Print Name Here► Date▲ proceed to Buyer’s closing. 447

(x) _________________________________________________________________________________________________ Date▲

449

EARNEST MONEY RECEIPT Broker acknowledges receipt of earnest money as per line 10 of the above Offer.

Lines 448 449-450 Earnest Money Receipt Buyer’s Signature▲ Print Name Here►

________________________________________________ Broker (By) _________________________________________ ACCEPTS THIS OFFER. THE WARRANTIES, REPRESENTATIONS AND COVENANTS MADE IN THIS OFFER 452 SURVIVE CLOSING AND THE CONVEYANCE OF THE PROPERTY. SELLER AGREES TO CONVEY THE PROPERTY When 453 a ON buyer an CONDITIONS offer with earnest money, the listing broker acknowledges of the THE submits TERMS AND AS SET FORTH HEREIN AND ACKNOWLEDGES RECEIPT receipt OF A COPY OF THIS earnest 454money OFFER. on lines 449-450. 450

451 SELLER

455 456

(x) _________________________________________________________________________________________________ Seller’s Signature▲ Print Name Here► Date▲

458

(x) _________________________________________________________________________________________________ 153 Seller’s Signature▲ Print Name Here► Date▲

459

This Offer was presented to Seller by [Licensee and Firm] _____________________________________________________

457

REAL ESTATE SALES

Lines 434-442 Additional Provisions/Contingencies and Addenda Lines 434-442 provide buyers a opportunity to reference any addenda to the offer or include additional provisions. To indicate that addenda accompany the offer, a buyer puts a mark in the open box at line 434. Lines 435-442 are for additional provisions and there is another section for additional provisions at lines 165-172. Lines 443-444 and Lines 459-460 Drafting and Presentation The licensee who drafted the offer indicates this on lines 443-444 and the licensee who presents the offer indicates this on lines 459-460. Lines 455-462 Accept, Reject, Counter Lines 455-462 provide spaces for a seller to indicate whether the seller is accepting, rejecting, or making a counter-offer.

WB-14 RESIDENTIAL CONDOMINIUM OFFER TO PURCHASE The WB-14 Residential Condominium Offer to Purchase and the WB-11 Residential Offer to Purchase are similar in length, format, structure, and content but the WB-14 addresses those aspects of a transaction specific to condominiums such as common elements, limited common elements, condoApproved by the Wisconsin Department of Regulation and Licensing Page 1and of 9, WB-14 03-1-11 (Optional Use Date) 07-1-11 (Mandatory Use Date) minium associations. This chapter covers the aspects of the condominium offer that differ from the WB-14 RESIDENTIAL CONDOMINIUM OFFER TO PURCHASE residential offer. Lines 3-31 General 1 LICENSEE DRAFTING Provisions THIS OFFER ON

________________________________________ [DATE] IS (AGENT OF BUYER) (AGENT OF SELLER/LISTING BROKER) (AGENT OF BUYER AND SELLER) SSTRIKE THOSE NOT APPLICABLEE 3 GENERAL PROVISIONS The Buyer, __________________________________________________________________________ ______ 4 _______________________, offers to purchase the Property known as [Street Address] _______________________________________ 5 in the _____________________ of ______________________, County of ____________________, Wisconsin, particularly described as 6 Unit: _______ (Building ____________) of _______________________________________________________________ Condominium 7 (Insert additional description, if any, at lines 174-188 or 514-519 or attach as an addendum per line 513), on the following terms: _____). 8 * PURCHASE PRICE: ________________________________________________________ Dollars ($____________________ 9 * EARNEST MONEY of $ ________________________ accompanies this Offer and earnest money of $ _______________________ 10 will be mailed, or commercially or personally delivered within _____________________________ days of acceptance to listing broker or 11 __________________________________________________________________________________________________________ ___. 12 * THE BALANCE OF PURCHASE PRICE will be paid in cash or equivalent at closing unless otherwise provided below. 13 * INCLUDED IN PURCHASE PRICE: Seller is including in the purchase price: (1) the Property; (  )! " !"  "  14 Elements and Limited Common Elements (see lines 75-80 and 327-332) appurtenant to the Unit, together with and subject to the rights, 15 interests, obligations and limitations as set forth in the Condominium Declaration and plat (and all amendments thereto); (  )! 16 interests in any common surplus and reserves in the Condominium allocated to the Property; (4) all Fixtures on the Property on the date 17 of this Offer not excluded at lines 20-21; and (5) the following additional items:_______________________________________________ 18 _____________________________________________________________________________________________________________ ___. 19 __________________________________________________________________________________________________________ 20 * NOT INCLUDED IN PURCHASE PRICE: ________________________________________________________________________ __ 21 ___________________________________________________________________________________________________________ __. 22 CAUTION: Identify Fixtures that are on the Property (see lines 317-324) to be excluded by Seller or which are rented and will 23 continue to be owned by the lessor. 24 * STORAGE UNIT: A storage unit (is) (is not) SSTRIKE ONEE included in the purchase price. Storage unit number: ________________. 25 * PARKING: The parking for the Unit is ______________________________________. The parking fee is $______________________. 26 NOTE: The terms of this Offer, not the listing contract or marketing materials, determine what items are included/excluded. __ 27 * ASSOCIATION FEE: The Association fee for the Property is $_______________________________ per______________________. 28 * OTHER FEES: The Association may charge other fees at, or subsequent to, closing which may include storage, Additional 29 Association, reserves, start-up, administrative, etc. fees. 30 NOTE: Buyer is advised to review the Condominium disclosure materials including, but not limited to, current financial 31 disclosure statements and other Condominium materials described on lines 204-234, as relevant. 32 BINDING ACCEPTANCE This Offer is binding upon both Parties only if a copy of the accepted Offer is delivered to Buyer on or before 33 ________________________________________________________________________. Sellerproperty may keep the Property on the market This section differs slightly from the WB-11 in the description of the and items included in 34 and accept secondary offers after binding acceptance of this Offer. (See Acceptance information at lines 61-64.) the purchase price. The description of the property includes a space for identification of the unit, the 35 CAUTION: This Offer may be withdrawn prior to delivery of the accepted Offer. building, and PROVISIONS the name of the OF condominium. Items includedBY inAN theOPEN purchase include theOFFER property, 36 OPTIONAL TERMS THIS OFFER THAT ARE PRECEDED BOX (  price ) ARE PART OF THIS 37 ONLY IF THE BOX IS MARKED SUCH AS WITH A '(   PART THIS OFFER IF MARKEDThe 'N/A( seller’s OR ARE LEFT the seller’s interest in the common elements, and the limited OF common elements. interest 38 BLANK. 39 DELIVERY OF DOCUMENTS AND WRITTEN NOTICES Unless otherwise stated in this Offer, delivery of documents and written 40 notices to a Party shall be effective only when accomplished by one of the methods specified at lines 41-58. 41 (1) Personal Delivery: $"#" % """ !&""  "& "  "&)! " livery if named at line 42 or 43. 154 42 Seller's recipient for delivery (optional): _____________________________________________________________________________ 43 Buyer's recipient for delivery (optional): ______________________________________________________________________________ 44 (2) Fax: fax transmission of the document or written notice to the following telephone number: 2

accompanied by a notice of unacceptability. CAUTION: The delivered commitment may contain conditions Buyer must yet satisfy to obligate the lender to provide the loan. 273   .                Offers toNOTICE Purchase 274    .      BUYER'S PRIOR WRITTEN APPROVAL OR UNLESS ACCOMPANIED BY A OF - 10 275 UNACCEPTABILITY. 276 / SELLER TERMINATION RIGHTS: If Buyer does not make timely delivery of said commitment, Seller may terminate this Offer if Seller 277 delivers a written notice of termination to Buyer prior to Seller's Actual Receipt of a copy of Buyer's written loan commitment. 278 / FINANCING UNAVAILABILITY: If financing is not available on the terms stated in this Offer (and Buyer has not already delivered an is279subject toloan thecommitment rights, interests, obligations, and limitations aswritten set notice forthtoinSeller theofcondominium declaraacceptable for other financing to Seller), Buyer shall promptly deliver same including copies of tion and plat. A seller also includes the seller’s interest in any common surplus and reserves in the 280 lender(s)' rejection letter(s) or other evidence of unavailability. Unless a specific loan source is named in this Offer, Seller shall then have 281 10 days to deliver to Buyer written notice of Seller's decision to finance this transaction on the same terms set forth in this Offer, and this Condominium. Page 2 of 9, WB-14 282 Offer shall remain in full force and effect, with the time for closing extended accordingly. If Seller's notice is not timely given, this Offer shall 59 PERSONAL DELIVERY/ACTUAL RECEIPT Personal delivery to, or Actual Receipt by, any named Buyer or Seller constitutes Lines of the general provisions provide buyer with an opportunity to identify if there is a storage 283 be 24-28 null and void. Buyer authorizes Seller to obtain any creditainformation reasonably appropriate to determine Buyer's credit worthiness 60 personal delivery to, or Actual Receipt by, all Buyers or Sellers. 284 for Seller financing. unit, parking spaces and fees, association fees, and other fees that will be part of the offer. The note 61 /ACCEPTANCE occurs whenON all Buyers and Sellers have signed one copy ofathe Offer, institution or separate but identical copies of 285 IF THIS OFFERAcceptance IS NOT CONTINGENT FINANCING: Within 7 days of acceptance, financial or third party in control of at286 lines 30-31 advises a buyer to review the condominium disclosure materials including condominium 62 the Offer. (,%0&("&& $%#) %*'%&#" *%''")%'#"''(,%&'''!#)%'#"&(ent funds to close. If 63 CAUTION: Deadlines the Offer are commonly calculated from this acceptance. Considerwritten whether short term deadlines disclosure statements and other materials as relevant. 287 such written evidence isinnot provided, Seller has the right to terminate Offer by delivering notice to Buyer. Buyer mayrunning or may 64 from acceptance provide adequate time for" both' binding acceptance and performance. 288 "#' #'" !#%' """ (' #& "#' $%#''#" #  """ #"'"",  % %& '#  #* (,%0& $praiser 65 DEFINITIONS 289 access to the Property for purposes of an appraisal. Buyer understands and agrees that this Offer is not subject to the appraisal meeting Lines 68-82,RECEIPT - &'R#&. 308-312, 327-332, and 334-340 66  ACTUAL !% &&  $&+ Definitions !"& & $&+0%$#!& "$ ($+  !+ % & "' !& "$ )$&&! 290 any particular value, unless this Offer is subject to an appraisal contingency, nor does the right of access for an appraisal constitute a 67 !"&#+%+!&$&+0%#"%%%%"!$$%%"& &""($+ 291 financing contingency. 68  ASSOCIATION %&&,   #$"(%&&-/ %%"&"!0 means all of a condominium's unit owners acting as a group, 292 APPRAISAL CONTINGENCY: & % & #"'""' ($#" ' (,% #% (,%0& "% )" ' %#$%', $$%& ' 69 &$&$"'!"!%&""$#"$&"!"$!'!!"$#"$&%%"&"!!"$!)&&%+)%!$&"!.The Association 293 (,%0&+$"&,&#"&" "&#%%'"$""'$$%&%*#&&(&"$$%& %$#%' dated subsequent to the 70 is the entity that the Unit owners typically use to act together as a group to manage and maintain the Condominium property and 294 date of thisEvery OfferUnit indicating value the Property to or greater the agreed price. This 71 finances. owneranis appraised automatically a for member of the equal Association, whichthan adopts budgetsupon and purchase sets the amounts ofcontingency the fees or 295 shall be deemed unless Buyer, within _________ days of acceptance, delivers to Seller a copy of the appraisal report which 72 assessments paidsatisfied by the Unit owners. 296 indicates that theASSOCIATION: appraised valueRefers is not to equal or greaterneighborhood, than the agreed upon purchase accompanied by awith written of 73  ADDITIONAL any to community, subdivision, masterprice, or umbrella association the notice power to 297 termination. 74 levy fees or assessments on the Property owner. Page 6 of 9, WB-14 298 CAUTION: &&'!(" %'' - *-'.( "$' #- $%)  "! '!+ *$)!"!""!" ( %')"- %' "%(!$ %$(!' , )In' 75  COMMONAn ELEMENTS %&&,  #$"(%&&-/ " !&%0 !' *#&&%'!&%. a 310 from one or moreCondominium parcels of time realproject, estate. The Common owner declares his or herinclude propertytheto land, be a Condominium. The Declaration the 76 typical residential the Elements may structural and common parts ofdivides buildings 299 deadlines provide adequate for performance. 311 property into Units, which are individually owned, andlandscaping, the Commonroads, Elements, areparking owned in common by alllighting, of the Unit 77 (entranceway, halls, elevator, meeting room, any which outside areas, outdoor anyowners recreational 300 DEFINITIONS CONTINUED FROM PAGE 2 etc.), 312 together. 78 facilities (swimming pool, tennis courts, clubhouse, etc.) and all other common areas and amenities. The Common Elements arethe owned 301 / DEADLINES- "&.+$%&&&"(!%#-,&.%#!")nt, such as acceptance, are calculated by excluding day 313 DEFECT$ %!   #!tly 79 collectively by all of and the Unit owners.subsequent For example, in a Condominium with 100expires Units, at each Unit owner one percent interestas in 302 the event occurred by counting calendar days. The deadline midnight on themay last own day. aDeadlines expressed 314 impair the health or safety of future occupants of the Property; or that if not repaired, removed or replaced would 80 all Common Elements. Thus, the Unit owner would own an undivided any one percent interest in theunder tennisWisconsin courts, road, parking law, lot, etc. 303 &$"(!%#-(&"&&,&.+ ('(%,&(",s, legal public holiday or Federal and any 315 significantly shorten or the expected life of the premises, or could result in a special as a declaration result a 81  CONDOMINIUM: Wis. Stat. §affect 703.02(4) provides that,service -/ "!" !'not0receive !% #$"#$&+ subject to aassessment condominium 304 other day designated byadversely the President such that the normal postal does registered mail or make regular deliveries on of that 316 condition of"&+$%&&&&$"(!%#-#(%&.%#!'#(%%"#")"'&(&%$'#"#'% a Common Element. 82 %&%'!$&%#&$.%&&    305 , ( ' 317 CONDITIONS FIXTURE: land orday improvements so as to 83  AFFECTING ORhours TRANSACTION - "!&"!%Affecting the Property or T$!%&"!.$!&" 306 from the exact$ "%#!###sociated time of the event,THE andPROPERTY by counting 24 per calendar day. Deadlines expressed aswith a specific of the calendar year 318 beastreated of the event, real estate, limitation, attached items not easily removable without damage to the 84 include: 307 or the dayasofpart a specific such including, as closing,without expire at midnightphysically of that day. 319 adapted to the provides premisesthat, and -/ items%'#"0!"&'"&'%(!"',*$%#$%',#!&&(''# customarily treated as fixtures, including, but not limited to, all: garden 85 a. Defectsitems in thespecifically roof. 308 /premises, DECLARATION: Wis. Stat. § 703.02(8) Page 6 of 9, WB-14 320 bulbs; plants;inshrubs and trees; screen and storm doors and windows; electric lightingisfixtures; window shades; and traverse rods; 86 b. Defects the electrical system. 309 '&$'%"'' %'#"&!"%#!'!'#'!.The Declaration a written document thatcurtain creates a Condominium 321 blinds andorshutters; central and cooling units and attached water heaters andpool) treatment sump pumps; 87 c. Defects inmore part of the plumbing system (including the water heater, water softener swimming thatThe issystems; included in thedivides sale. 310 from one parcels ofheating real estate. The owner declares his orequipment; her property toand be a Condominium. Declaration the 322 attached or in fitted coverings; awnings; attached antennas; garage doorand openers remote controls;byinstalled systems; 88 d. Defects the floor heating andindividually air conditioning system (including the air filters humidifiers). 311 property into Units, which are owned, and the Common Elements, which areand owned in common all of thesecurity Unit owners 89 e. Defects in the well, including unsafe well water. sprinkler systems and component parts; built-in appliances; ceiling fans; fences; storage 323 central vacuum systems and accessories; in-ground 312 together. 90 f. Property is served by a joint well. 324 buildings on permanent foundations and docks/piers on permanent foundations. 313 DEFECT$ %!    #!tly 91 g. Defects inhealth the septic or other disposal 325 CAUTION: anysystem fixtures be sanitary retained by Seller or which are rented softener removed or other water conditioning 314 impair the Exclude or safety of to future occupants ofsystem. the Property; or that(e.g., if water not repaired, or replaced would 92 h. Underground or or aboveground fuelsatellite storage tanks on or previously on the P$"#$&+-+%.&")!$+) 326 systems, home entertainment dish components, tanks, etc.) linesresult 20-21. 315 significantly shorten adverselyand affect the expected normal life ofL.P. thelocated premises, oron could in a special assessment as a+(&" result of a 93 LIMITED register tanks with the Department Commerce at P.O.provides Box 7970, Madison, Wisconsin, whether thetanks are in use or 327 COMMON ELEMENTS: Wis.ofStat. § 703.02(10) that, $&  53707, '    316 condition of athe Common Element. 94 identified not. Regulations of theorDepartment of Commerce requireforthe or removal of unused 328 in a $ "%#!###sociated declaration on a condominium plat asmay reserved theclosure exclusive use of one or moretanks.) but less than of th!% 317 FIXTURE: with land or all improvements so as to 95 i.A Unit -.&!"!&roperty (specifyCommon in the additional information whether the tank interest is owned or 329 owner notthe own a Limited Element, except forphysically the percentage theleased). Common Elements, but isdamage the onlytoone 318 be treated asindoes part of real including, without limitation, attached itemsinnot easily removable without the 96 j. Defects the basement orestate, foundation (including cracks, seepage and bulges). 330 who may use it, either alone or with others (but not all Unit owners). This exclusive use may subjectbut to restrictions stated in the 319 premises, items specifically adapted to the premises and items customarily treated as fixtures, be including, not limited to, all: garden 97 k. Propertyoristhe located in a floodplain, or shoreland zoning may area.include a storage area, patio, balcony, garage parking space or a 331 bulbs; Declaration Condominium rules.wetland Limited Common Elements 320 plants;inshrubs and trees; screen and storm doors and windows; electric lighting fixtures; window shades; curtain and traverse rods; 98 l. Defects the structure of the Property. 332 blinds boat slip. 321 and shutters; central heating and cooling units and attached equipment; waterproperty. heaters and treatment systems; sump pumps; 99 m. Defects in mechanical equipment included in the sale either as Fixtures or personal 333 attached 322 or fitted awnings; attached antennas; garage door aopeners and remote controls; installed security systems; 100 n. PROPERTY !$ #%4-7. Boundary or lotfloor linecoverings; disputes, encroachments or encumbrances (including joint driveway). 334 central Wis. Stat. §  $& '## 323 vacuum systems and accessories; in-ground sprinkler systems and component parts; built-in ceilinglead fans;infences; storage 101 o. UNIT: Defect caused by703.02(15) unsafe concentrations of, or unsafe conditions relating to, radon, radium in appliances; water supplies, paint, lead in 335 or more cubicles of air at one or levelssystem, of space orother one potentially or foundations. more rooms or enclosed spaces locatedononthe one or more Note: floors, specific or parts 324 buildings on permanent foundations and docks/piers onor permanent 102 soil, lead in water supplies ormore plumbing hazardous or toxic substances premises. 336 CAUTION: thereof, in aExclude bui   #to      Unit issoftener entitled to other exclusive ownership and 325 any fixtures be retained by Seller or which% are water or water conditioning 103 federal lead paint disclosure requirements must be complied withrented inThe the (e.g., saleowner of most residential properties built before 337 systems, possession of hisentertainment or her Unit. A and Unitsatellite is not necessarily limited to L.P. an apartment-like concept and may also be a freestanding house, a 326 dish components, tanks, etc.) on lines 20-21. 104 1978. home 338 p. plusCOMMON surrounding land, or landWis. similar to amaterials Unitson may also include separate area that is' some distance from the basic 105 Presence of asbestosELEMENTS: or asbestos-containing theprovides premises. 327 structure LIMITED Stat. §lot. 703.02(10) that,a $&   away   339 q. individual area. For example, a Unit may be defined to include aexclusive storage patio, garage space aofboat slip. Whaton is 106 Defectindwelling caused by unsafe concentrations of, unsafe conditions to,area, or the storage of,parking hazardous oror toxic substances 328 identified a declaration or on a condominium plat as reserved for therelating use of one or more but less than all th!% 340 A   !$ %  107 neighboring properties. 329 Unit owner does not own a Limited Common Element, except for the percentage interest in the Common Elements, but is the only one 108 Current orDIMENSIONS previous oracknowledges carpenter ant infestations or Unit, Defects bysubject animal or insect 341 r. PROPERTY SURVEYS Buyer that This any land, building room dimensions, or totalinfestations. acreage 330 who may use it, either termite, aloneAND orpowder-post with others beetle (but not all Unit owners). exclusive usecaused mayorbe to other restrictions stated in or the 109 Defects in the a square wood burning or Limited fireplace ortoDefects caused by firea in a astove or fireplace or elsewhere on the Property. 342 s. building or Unit footagestove figures, provided BuyerElements by Sellermay orabyinclude broker, may be approximate because of rounding, formulas 331 Declaration or Condominium rules. Common storage area, patio, balcony, garage parking space or a 110 Remodeling affecting the verified Property's structure or mecha! %+%& % "$ &"!% &" $"#$&+ '$! $0% ")!$%# )&"'& are The WB-14 condominium offerbyincludes additional specific to condominiums. Definitions 343 t.boat used or other reasons, unless survey or other means. definitions 332 slip. 111 requiredBuyer permits. 344 CAUTION: should verify total square footage formula, total square footage/acreage figures, and land, building, Unit or 333 PROPERTY !$ #%4-7. on pages 2, 5, andlocal 6. regulations Lines 68-82 definitions for association, additional association, common 112 Federal, requiringinclude repairs, alterations or corrections of an existing condition. 345 u. dimensions, material. 334 room UNIT: Wis.state, Stat. or §if703.02(15)  $& '## 113 v. Notice of property increases, other than normal annual increases, or pending property reassessment. elements, and condominium. Lines have the definition forspaces declaration, lines 327-332 346 orPROPERTY DAMAGE ACCEPTANCE CLOSING Seller shall maintain the Unitlocated and any Elements 335 more cubicles of airtax at BETWEEN one or more levels of308-312 spaceAND or one or more rooms or enclosed onLimited one or Common more floors, orhave parts the 114 w. Remodeling that may increase Property's assessed value. 336 in a limited bui   #      % The Unit owner is entitled to exclusive ownership and 347 thereof, until the earlier of closing or occupancy of Buyer in materially the same condition as of the date of acceptance of this Offer, except for definition for common elements, and lines 334-340 have the definition for unit. 115 x. Proposed or pending special assessments. 337 ofisand his or her Unit ispurpose not limited an apartment-like and may also beofathe freestanding house, 348 possession ordinary wear tear. If,Unit. prioraAto closing, thenecessarily Unit is damaged amount of not more thanthe five percent selling price, Sellera 116 y. Property located within special district, such asinatoan drainage district, thatconcept has authority to(5%) impose assessments against 338 plus surrounding or land similar may also include separate is some awayclosing, from theSeller basic 349 structure shallthe bereal obligated to located repairland, the Unit anddistrict. restoretoitatolot. theUnits same condition that it awas on thearea day that of this Offer. distance No later than 117 property within the 339 individual dwelling area. a Unit may berepairs defined to include a storage patio, garage parking a boat slip. What is 350 z. shallProposed provide Buyer with For lienofexample, waivers all lienable restoration. If thearea, damage shall exceed suchspace sum, or Seller shall promptly 118 construction a publicfor project that may affectand the use of the Property. 340   !$ %  351 aa. notify Buyer in writing of the damage and thiscommon Offer mayareas be canceled at option of Buyer. Should Buyer elect to carry out thisuses, Offerrights-ofdespite 119 Subdivision homeowners' associations, co-owned with others, zoning violations or nonconforming 341 DIMENSIONS AND Buyer acknowledges land,than building ortoroom dimensions, or total acreage 120 easements another useSURVEYS of atopart the Property by nonowners, other recorded utility easements. 352 PROPERTY suchway, damage, Buyerorshall be entitled theofinsurance proceeds, if that any,any relating toUnit, the damage the Unit, plus a credit towards theor 342 building orprice Unit square figures, provided to Buyer bysuch Seller or by may be approximate because formulas 121 Structure onequal the Property is designated as adeductible historic building or policy, that part ofbroker, theHowever, Property in asale historic district. 353 bb. purchase tofootage the amount of Seller's on ifaany. ifisthis is financed byof a rounding, land contract or a 343 used or other reasons, unless verified by survey means. 122 Any land division involving the proceeds subject Property, for which required or local permits had not 354 cc. mortgage to Seller, any insurance shallorbeother held in trust for thestate sole purpose of restoring the been Unit. obtained. 123 ViolationBuyer of state or localverify smoke andsquare carbon monoxide detector laws. 344 CAUTION: should total footage total squareatfootage/acreage figures, and land, Unit or 355 dd.  PRE-CLOSING WALK-THROUGH Within 3formula, days prior to closing, a reasonable time pre-approved by building, Seller or Seller's 124 High voltage electric (100 KV or greater) or steel natural gas transmission lines located on but not directly serving the Property. 345 ee. room dimensions, if material. 356 agent, Buyer shall have the right to walk through the Unit and any Limited Common Elements to determine that there has been no 125 The Property is subject to a mitigation plan required by CLOSING DNR rules Seller relatedshall to county shoreland ordinances that obligates the 346 ff.PROPERTY DAMAGE BETWEEN ACCEPTANCE AND maintain the Unitzoning and any Limited Common Elements 357 significant change in the condition of the Unit and any Limited Common Elements, except for ordinary wear and tear and changes 126 to establish or maintain certainofmeasures related to shoreland conditions, enforceable byofthe county. of this Offer, except for 347 until owner the earlier of closing or occupancy Buyer in materially the same condition as of the date acceptance 358 gg. approved Buyer,affecting and thatthe anyProperty. defects Seller has agreed to cure have been repaired in the manner agreed to by the Parties. 127 Other by Defects 348 ordinary wear and tear. If, prior to closing, the Unit is damaged in an amount of not more than five percent (5%) of the selling price, Seller 359 (Definitions DISTRIBUTION OF INFORMATION 128 Continued on page 5) Buyer and Seller authorize the agents of Buyer and Seller to: (i) distribute copies of the Offer to 349 shall be obligated to repair the Unit and restore it to the same condition that it was on the day of this Offer. No later than closing, Seller 360 Buyer's lender, appraisers, title insurance companies and any other settlement service providers for the transaction as defined by the 350 shall provide Buyer with lien waivers for all lienable repairs and restoration. If the damage shall exceed such sum, Seller shall promptly 155 361 Real Estate Settlement Procedures Act (RESPA); (ii) report sales and financing concession data to multiple listing service sold 351 notify Buyer in writing of the damage and this Offer may be canceled at option of Buyer. Should Buyer elect to carry out this Offer despite 362 databases; and (iii) provide active listing, pending sale, closed sale and financing concession information and data, and related 352 such damage, Buyer shall be entitled to the insurance proceeds, if any, relating to the damage to the Unit, plus a credit towards the 363 information regarding seller contributions, incentives or assistance, and third party gifts, to appraisers researching comparable sales, 353 purchase price equal to the amount of Seller's deductible on such policy, if any. However, if this sale is financed by a land contract or a 364 market conditions and listings, upon inquiry. 271 272

REAL ESTATE SALES

Lines 129-135 Property Condition Representations Property Address: ___________________________________________________________________________________________________________Page 3 of 9, WB-14

PROPERTY CONDITION REPRESENTATIONS Seller represents to Buyer that as of the date of acceptance Seller has no notice or knowledge of Conditions Affecting the Property or Transaction (lines 83-127) with regard to the Unit, Condominium Common Elements 131 and Limited Common Elements, other than those identified in Seller's Real Estate Condition Report dated ________________________ 132 ___________________________, which was received by Buyer prior to Buyer signing this Offer and which is made a part of this Offer by 133 reference ICOMPLETE DATE OR STRIKE AS APPLICABLEI and ______________________________________________________ 134 ___________________________________________________________________________________________________________ 135 ______________________________________ IINSERT CONDITIONS NOT ALREADY INCLUDED IN THE CONDITIONI IREPORTI Property Address: ___________________________________________________________________________________________________________Page 3 of 9, WB-14 136 CLOSING This transaction is to be closed no later than ______________________________________________________________ 129 PROPERTY CONDITION REPRESENTATIONS Seller represents to Buyerbythat as ofunless the date of acceptance Seller no in notice or 137 ____________________________________________at the place selected Seller, otherwise agreed by the has Parties writing. This sectionofafter isConditions almost identical toshall theor WB-11 section on property representations except that 130 theSeller Property Transaction (lines 83-127) with regard tocondition the Unit, Condominium __ Property Address: _______________________________________________________________________________________________________ 3 Elements of 9, WB-14 138 knowledge Immediately closing,Affecting Buyer and notify the Condominium Association, and any Additional Association,Common of__Page the transfer. and Limited Common Elements, other than those identified Seller's Condition Report dated ________________________ it 131 includes reference to the unit, condominium common elements, and limited common elements 139 OCCUPANCY Occupancy of the entire Property shall beingiven to Real BuyerEstate at time of closing unless otherwise provided in this Offer at rather 129 PROPERTY CONDITION REPRESENTATIONS Seller represents to Buyer that as of the date of acceptance Seller has no notice or 132 which was received byper Buyer prior to Buyer signing thisoccupancy, Offer and which is made a part of thisCommon Offer by 140 ___________________________, lines 174-188 or 514-519 or in an addendum attached line 513. At time of Buyer's the Unit and any Limited than just the property referenced in the WB-11. 130 knowledge of Conditions Affecting the Property or Transaction (lines 83-127) with regard to the Unit, Condominium Common Elements 133 reference ICOMPLETE DATE OR STRIKE AS APPLICABLEI and ______________________________________________________ 141 Elements (used exclusively by the Unit owner) shall be in broom swept condition and free of all debris and personal 131 Property and Limited Common Elements, other than those identified in Seller's Real Estate Condition Report dated ________________________ ____Page 3 of 9, WB-14 Address: 134 142 ___________________________________________________________________________________________________________ property except_______________________________________________________________________________________________________ for personal property belonging to current tenants, or to that sold signing to Buyerthis orOffer left with shallby be Lines 136-138 Closing 132 ___________________________, which was received by CONDITIONS Buyer prior Buyer andBuyer's which isconsent. made a Occupancy part of this Offer 135 ______________________________________ IINSERT NOT ALREADY INCLUDED IN THE CONDITIONI IREPORTI 143 given subject to tenant's rights, if any. 129 PROPERTY CONDITION REPRESENTATIONS Seller represents to Buyer that as of the date of acceptance Seller has no notice or 133 reference ICOMPLETE DATE OR STRIKE AS APPLICABLEI and ______________________________________________________ 136 CLOSING This transaction is tofollowing be no later than ______________________________________________________________ 144 CLOSING of PRORATIONS The items, shall proratedwith at closing, based uponCondominium date of closingCommon values: real estate 130 knowledge Conditions Affecting theclosed Property orif applicable, Transaction (linesbe83-127) regard to the Unit, Elements 134 ___________________________________________________________________________________________________________ 137 ____________________________________________at the placecharges, selected by Seller, unless otherwise agreed by the PartiesAssociation in writing. 145 taxes, rents, prepaid insurance (if assumed), private and municipal property owners association and Condominium 131 and Limited Common Elements, other than those identified in Seller's Real Estate Condition Report dated ________________________ 135 ______________________________________ IINSERT CONDITIONS NOT ALREADY INCLUDED IN THE CONDITIONI IREPORTI 138 Immediately after closing, Buyer and Seller shall notify the Association, Additional Association, theoftransfer. __by 146 standard recurring assessments andwhich fees, fuel and __. 132 was byCondominium Buyer prior to Buyer signingand thisany Offer and which is made a of part this Offer 136 ___________________________, CLOSING This Occupancy transaction is to closed noreceived later________________________________________________________________ than ______________________________________________________________ 139 OCCUPANCY thebeSTRIKE entire Property shall be given to______________________________________________________ Buyerifat timeofofclosing closingvalue unless otherwise provided in this3 ofOffer at ____Page Property Address: _______________________________________________________________________________________________________ 9, WB-14 147 CAUTION: Provide basis forofutility charges, fuel and other prorations date will not be used. 133 reference ICOMPLETE DATE OR AS APPLICABLEI and 137 ____________________________________________at the place selected by Seller, unless otherwise agreed by the Parties in writing. 140 lines 174-188 or closes 514-519 oron in an per 513. At of Buyer's occupancy, the and any Limited Common When aincome, buyer a addendum condominium, the WB-14 states that buyer and seller shall notify the 148 Any taxes or expenses shall accrue to attached Seller, and beline prorated at time closing, through thethe day prior to Unit closing. 134 ___________________________________________________________________________________________________________ 129 Immediately PROPERTY CONDITION REPRESENTATIONS represents toAssociation, Buyer that as the Additional date offree acceptance Seller has nopersonal notice or 138 after closing, Buyer Seller notifySeller the Condominium andofany Association, of the transfer. 141 Elements exclusively byand the Unitshall owner) be in broom swept condition andafter of all debris and 149 Real estate(used taxes shall be prorated at closing based onshall [CHECK BOX FOR APPLICABLE PRORATION FORMULA]: condominium association and any additional association immediately closing. 135 IINSERT CONDITIONS NOT INCLUDED IN THE CONDITIONI IREPORTI 130 ______________________________________ knowledge of Conditions Affecting the Property orcurrent Transaction (lines 83-127) with regard to the Unit, Condominium Common Elements 139 OCCUPANCY Occupancy of the entire Property shall be given to Buyer at ALREADY time of closing unless otherwise provided in this Offer be at 142 property except for personal property belonging to tenants, or that sold to Buyer or left with Buyer's consent. Occupancy shall 150 The net general real estate taxes for the preceding year, or the current year if available (Net general real estate taxes are 136 CLOSING This transaction is to be closed no later thanper ______________________________________________________________ 131 lines and Limited Common Elements, other than those identified in Seller's Real Estate Condition Report dated ________________________ 140 174-188 or 514-519 or in an addendum attached line 513. At time of Buyer's occupancy, the Unit and any Limited Common 143 given subjectas to general tenant's property rights, if any. 151 defined taxes after state tax credits and lottery credits are deducted) (NOTE: THIS CHOICE APPLIES IF NO 137 place selected by Seller, unless otherwise agreed bydebris the Parties inpersonal writing. Lines 139-143 132 ____________________________________________at ___________________________, which wasowner) received bythe Buyer prior to Buyer signing thisbased Offer andfree which is all made avalues: part of this Offer 141 Elements (used Occupancy exclusivelyThebyfollowing the Unit shall be swept condition and ofof and 144 CLOSING items, if applicable, shallin bebroom prorated at closing, upon date closing real estateby 152 BOX IS PRORATIONS CHECKED) 138 Immediately after closing, Buyer and Seller shall notify the Condominium Association, and any Additional Association, of the transfer. 133 property referenceexcept ICOMPLETE DATE OR STRIKE AStoAPPLICABLEI andor______________________________________________________ 142 for personal property belonging current tenants, that sold to Buyer or leftassociation with Buyer's consent. Occupancy shall be 145 taxes, rents,Current prepaid insurance assumed), private and municipal charges, property and Condominium Association 153 assessment times current mill rate (current means as of the date of ofowners closing) 139 OCCUPANCY Occupancy ofif(ifthe entire Property shall be given to Buyer at time closing unless otherwise provided in this Offer at 134 given ___________________________________________________________________________________________________________ 143 subject to tenant's rights, any. ____. 146 standard recurring assessments and fees,municipality fuel and ________________________________________________________________ 154 Sale multiplied byaddendum the area-wide percent of fairofmarket value used bythetheUnit assessor the priorCommon year, or 140 174-188 or price, 514-519 orThe in an attached perCONDITIONS line 513. At time Buyer's occupancy, and anyinvalues: Limited 135 lines ______________________________________ IINSERT NOT ALREADY INCLUDED IN THE CONDITIONI IREPORTI 144 CLOSING PRORATIONS following items, if applicable, shall be prorated at closing, based upon date of closing real estate 147 CAUTION: Provide basismultiplied for utility charges, fuel andshall otherbeprorations if date of closing value will notofbe all used. 155 current(used year if known, by current mill rate (current means as of the date of closing) 141 Elements exclusively by the Unit owner) in broom swept condition and free debris and personal 136 taxes, CLOSING This transaction is(if toassumed), beaccrue closedtoprivate noSeller, laterand than ______________________________________________________________ 145 rents, prepaid insurance charges, property owners association and Condominium Association 148 Any income, taxes or expenses shall andmunicipal be prorated at closing, prior to closing. _____. 156 ______________________________________________________________________________________________ 142 property except forassessments personal property belonging to current tenants, orselected that soldby tothrough Buyer unless orthe leftday with Buyer's consent. shall be 137 Real ____________________________________________at the place Seller, otherwise agreed by Occupancy the Parties in writing. ____. 146 standard recurring and fees, fuelbased and ________________________________________________________________ 149 estate taxes shall be prorated at closing on [CHECK BOX FOR APPLICABLE PRORATION FORMULA]: 157 CAUTION: Buyer is informed that the actual real estate taxes for the year of closing and subsequent years may be substantially 143 given subject to tenant's rights, if any. 147 CAUTION: Provide basis for utility charges, fuel and other prorations if date of closing value will not be used. 138 Immediately after closing, Buyer and Seller shall notify the Condominium Association, and any Additional Association, of the transfer. 150 The the net amount general real estate taxes for the preceding year, or the current year ifnew available (Net general real estate taxes are 158 different than used for proration in transactions involving construction, extensive rehabilitation, 144 CLOSING The following items, if especially applicable, shall be prorated at closing, based upontodate of closing values: real Offer estate 148 income,PRORATIONS taxes or expenses accrue to Seller, and be and prorated at closing, through the day(NOTE: prior closing. 139 Any OCCUPANCY Occupancy ofshall the entire Property shall given to contact Buyer atthe time of closing unless otherwise provided inchanges. this defined as general property taxes after state tax credits lottery credits are deducted) THIS CHOICE APPLIES IF NOat 159 remodeling or area-wide re-assessment. Buyer isand encouraged to local assessor regarding possible tax A151 buyer receives occupancy to the unit and any limited common elements at the time of closing. 145 taxes, rents, prepaid insurance (if assumed), private municipal charges, property owners association and Condominium Association 149 Real estate taxes shall be prorated at closing based on [CHECK BOX FOR APPLICABLE PRORATION FORMULA]: 140 lines 174-188 or 514-519 or in an addendum attached per line 513. At time of Buyer's occupancy, the Unit and any Limited Common 152 BOX ISBuyer CHECKED) 160 and Seller agree tofees, re-prorate the________________________________________________________________ real estate taxes, through the day prior to closing based upon the taxes on the actual __are 146 recurring and fuel for and __. 150 The netassessments general realby estate taxes the preceding year, or of thethecurrent year if available (Net general real estate 141 standard Elements (used exclusively thecurrent Unit owner) shall be inhisas broom swept condition andshall, freewithin of all debris andtaxes personal 153 Current assessment times mill rate (current means date of closing) 161 tax bill for the year of closing, with Buyer and Seller each owing or her pro-rata share. Buyer 5 days of receipt, forward 147 CAUTION: Provide basis for utility charges, fuel and other prorations ifsold date ofBuyer closing value will not be used. 151 defined as general property taxes after state tax credits and lottery credits are deducted) (NOTE: THIS CHOICE APPLIES IF NO 142 property except for personal property belonging to current tenants, or that to or left with Buyer's consent. Occupancy shall Lines 144-146 Closing Prorations 154 multiplied by the municipality fair market used byre-      theclosing. assessor in the prior year, orbe 162 aincome, copy Sale oftaxes theprice, bill the forwarding address Sellerarea-wide agrees to percent provide at closing. Thevalue Parties shall 148 Any or to expenses shall accrue to Seller, and be prorated at of closing, through the day prior to 152 BOX IS CHECKED) 143 given subject to tenant's rights, if any. 155 year known, multiplied current millagree rate (current as ofAPPLICABLE the date ofand closing) 163 receipt of theifactual bill. Buyer and Seller this is ameans post-closing obligation is the responsibility of the Parties to complete, 149 Realcurrent estateCurrent taxes shall betax prorated atbyclosing based on(current [CHECK BOXbeFOR PRORATION FORMULA]: 153 assessment times current mill rate means asprorated of the date of closing) 144 CLOSING______________________________________________________________________________________________ PRORATIONS The following items, ifinapplicable, shall at closing, based upon date of closing values: real__estate 156 ___. 164 not the The responsibility of the real estate brokers this transaction. 150 net general real estate taxes for the preceding year, or the current year if available (Net general real estate taxes 154 Sale price, multipliedthat the actual municipality area-wide percent of fairproperty market value used by the and assessor in the prior year,are or 145 CAUTION: taxes, rents, prepaid insurance (ifby assumed), private and municipal charges, owners association Condominium Association 157 Buyer is informed the real estate taxes for the year of closing and subsequent years may be substantially 165 LEASED PROPERTY If Property is currently leased and lease(s) extend beyond closing, Seller shall assign Seller's rights under said 151 defined as general property taxes after state tax credits and lotteryascredits are (NOTE: THIS CHOICE APPLIES IF __ NO 155 current year if known, multiplied byfees, current mill rate (current means of theinvolving datededucted) of closing) 146 different standard recurring assessments and fuel and ________________________________________________________________ __. 158 than the amount used for proration especially in transactions new construction, extensive rehabilitation, 166 lease(s) transfer all security deposits and prepaid rents thereunder to Buyer at closing. The terms of the (written) (oral) SSTRIKE 152 BOXand IS______________________________________________________________________________________________ CHECKED) _____. 156 147 remodeling CAUTION: Provide basis for utility charges, fuelisand other prorations if date of closing value will not be used. tax changes. 159 or area-wide re-assessment. Buyer encouraged to contact the local assessor regarding possible 167 ONEE lease(s), if any, are ______________________________________________________________________________________ 153 Current times current mill rate (current means asatof theof date of closing) 157 Buyer isassessment that actual real estate taxes for the year and subsequent yearsthe may be substantially 148 CAUTION: Any income, taxesand orinformed expenses shall accrue to Seller, and be prorated closing, through the day prior to closing. 160 Buyer Seller agree tothe re-prorate the real estate the closing day prior to closing based taxes on actual 168 ______________________________. Insert additional terms, iftaxes, any, at lines 174-188 or 514-519 orby attach asupon an addendum perthe line 513. Unlike the WB-11 Residential Offer toespecially Purchase, athrough buyer and anew seller intheFORMULA]: aassessor condominium transaction 154 Sale price, multiplied byfor the municipality area-wide percent of fair market value used in therehabilitation, prior year, or 158 different than the amount used proration in transactions involving construction, extensive 149 Real estate taxes shall be prorated at closing based on [CHECK BOX FOR APPLICABLE PRORATION 161 tax bill for theAssociation year of closing, with Buyer and Seller each owing hisor orregulate her pro-rata share. Buyer shall, within 5 days of receipt, forward 169 CAUTION: The may have the power to prohibit, limit Unit rentals now or in the future. 155 current year if known, multiplied by current mill rate (current means as of the date of closing) 159 remodeling or area-wide re-assessment. Buyer is encouraged to contact the local assessor regarding possible tax changes. prorate and condominium association standard recurring 150 The general realassociation estateaddress taxes for the agrees preceding year, oratthe current if available (Net general real estateassessments taxes are 162 a property copyWEATHERIZATION of thenet billowners to the forwarding Seller to provide closing. Theyear Parties shall re-      170 RENTAL This transaction (is) (is not) SSTRIKE ONEE exempt from Wisconsin Rental Weatherization Standards __ 156 ______________________________________________________________________________________________ 160 Buyer and Seller agree to re-prorate the realcredits estate taxes, through theare daydeducted) prior to the closing based upon theParties taxes on the actual 151 fees defined as general property taxes after state tax and lottery credits (NOTE: THIS CHOICE APPLIES IF___. NO and in addition to the charges prorated in the residential offer to purchase. 163 receipt of the actual tax bill. Buyer and Seller agree this is a post-closing obligation and is responsibility of the to complete, 171 (Wis. Admin. Code Ch. Comm 67). If not exempt, (Buyer) (Seller) SSTRIKE ONEE (        shall be responsible for 157 CAUTION: Buyer is informed that the actual real estate taxes for the year of closing and subsequent years may be substantially 161 tax bill for the year of closing, with Buyer and Seller each owing his or her pro-rata share. Buyer shall, within 5 days of receipt, forward 152 BOX IS CHECKED) 164 not thethan responsibility the real estate brokersRental in this transaction. 172 compliance, including allofcosts, with Wisconsin Weatherization Standards. If Seller isconstruction, responsible forextensive compliance, Seller shall 158 different the amount used for proration especially in transactions involving new rehabilitation, 162 a copyPROPERTY of the billassessment to the forwarding addressmill Seller tomeans provide Parties shall re-      153 LEASED Current times current rateagrees (current asatofclosing. the dateThe of closing) 165 If re-assessment. Property is closing. currently leased and lease(s) beyond closing, Seller shall assign Seller's tax rights under said 173 provide a Certificate of Compliance at 159 remodeling orthe area-wide Buyer is encouraged toextend contact the local assessor regarding possible Lines 165-169 Leased Property 163 receipt of actual tax bill. Buyer and Seller agree this is a post-closing obligation and is the responsibility of(written) the Parties to complete, 154 Sale price, multiplied by the municipality area-wide percent of fair market value used by the assessor in (oral) thechanges. prior year, or 166 lease(s) andBuyer transfer all security deposits and prepaid rents thereunder to Buyer at closing. The terms of the SSTRIKE 174 ____________________________________________________________________ 160 ADDITIONALPROVISIONS/CONTINGENCIES and Seller agree to re-prorate the real estate taxes, through the day prior to closing based upon the taxes on the ___ actual 164 not the responsibility ofmultiplied the real estate brokers this(current transaction. 155 ONEE current yearififany, known, by current millinrate means as of the date of closing) 167 lease(s), are ______________________________________________________________________________________ ______ 175 ________________________________________________________________________________________________________ 161 tax bill for the year of closing, with Buyer and Seller each owing his or her pro-rata share. Buyer shall, within 5 days of receipt, forward 165 LEASED PROPERTY If Property is currently leased and lease(s) extend beyond closing, Seller assign rightsper under said __ 156 ______________________________. ______________________________________________________________________________________________ ___. 168 Insert additional terms, if any, at lines 174-188 or Parties 514-519 orshall attach as anSeller's addendum line___ 513. 176 ________________________________________________________________________________________________________ ___ 162 a copy of the bill to the forwarding address Seller agrees to provide at closing. The shall re-      166 lease(s) and transfer all security deposits and prepaid rents thereunder to Buyer at closing. The terms of the (written) (oral) SSTRIKE 157 CAUTION: CAUTION:The Buyer is informed that the the actual realto estate taxes for or theregulate year of Unit closing andnow subsequent years may be substantially 169 Association may have power prohibit, limit rentals or in the future. ______ 177 ________________________________________________________________________________________________________ 163 receipt of thethe tax ______________________________________________________________________________________ bill. Buyer and Seller agree this is ainpost-closing obligation and is theconstruction, responsibility ofextensive the Partiesrehabilitation, to complete, 167 ONEE lease(s), ifactual any, are 158 different than amount used for proration especially transactions involving 170 RENTAL WEATHERIZATION This transaction (is) (is not) SSTRIKE ONEE exempt fromnew Wisconsin Rental Weatherization Standards ______ 178 ________________________________________________________________________________________________________ 164 not the responsibility of the real estate brokers in this transaction. 159 ______________________________. remodeling or area-wide re-assessment. Buyer is encouraged toatcontact the local assessor regarding tax changes. 168 Insert additional terms, if any, lines ONEE 174-188 or 514-519 or attach as anpossible addendum per line 513. 171 (Wis. Admin. Code Ch. Comm 67). Ifisnot exempt, (Buyer) (Seller) SSTRIKE (        shall be responsible for 179 ________________________________________________________________________________________________________ ___ 165 LEASED PROPERTY If Property currently leased and lease(s) extend beyond closing, Seller shall assign Seller's rights under said 169 Association may have the power to prohibit, limit or regulate rentals now orbased in thefor future. 160 CAUTION: The Buyer and all Seller agree toWisconsin re-prorate the real estate taxes, through theUnit day prior toisclosing upon the taxes on the___ actual 172 compliance, including costs, with Rental Weatherization Standards. Ifclosing. Seller responsible compliance, Seller shall ___ 180 ________________________________________________________________________________________________________ ___ 166 lease(s) and transfer all security deposits and prepaid rents thereunder to Buyer at The terms of the (written) (oral) SSTRIKE 170 WEATHERIZATION transaction (is not) exempt share. from Wisconsin Rental Weatherization Standards 161 RENTAL taxabill for the year of closing,This with Buyer and (is) Seller eachSSTRIKE owing his ONEE or her pro-rata Buyer shall, within 5 days of receipt, forward 173 provide Certificate of Compliance at closing. ______ 181 ________________________________________________________________________________________________________ 167 ONEE lease(s), ______________________________________________________________________________________ 171 Ch.toare Comm 67). If of notaddress exempt, (Buyer) (Seller) SSTRIKE ONEE (        shallto be buyers responsible for con162 (Wis. aAdmin. copy ofCode theif any, bill the forwarding Seller agrees to provide at closing. The Parties shall re-      The leased property section the condominium offer includes a cautionary note that ___ 174 ADDITIONALPROVISIONS/CONTINGENCIES ____________________________________________________________________ ___ 182 ________________________________________________________________________________________________________ ___ 168 ______________________________. Insert additional terms, if any, at lines 174-188 or 514-519 or attach as an addendum per line 513. 172 including all costs, with Wisconsin Rental Weatherization Standards. If Seller is responsible for compliance, Seller shall 163 compliance, receipt of the actual tax bill. Buyer and Seller agree this is a post-closing obligation and is the responsibility of the Parties to complete, dominium associations may have the power tolimit prohibit, limit, or regulate to rent the 175 ________________________________________________________________________________________________________ ___ 183 ________________________________________________________________________________________________________ ___ ___ 169 CAUTION: The Association may thebrokers power prohibit, or regulate Unit rentals now or ina thebuyer’s future. power ___ 173 Certificate of Compliance atestate closing. 164 provide notathe responsibility of the realhave intothis transaction. ___ 176 ________________________________________________________________________________________________________ ___ ___ condominium unit to a tenant now or in the future. 184 ___ 170 ________________________________________________________________________________________________________ RENTAL WEATHERIZATION This transaction (is) (is not) SSTRIKE ONEE exempt from Wisconsin Rental Weatherization Standards ___ 174 ____________________________________________________________________ 165 ADDITIONALPROVISIONS/CONTINGENCIES LEASED PROPERTY If Property is currently leased and lease(s) extend beyond closing, Seller shall assign Seller's rights under said ___ 177 ________________________________________________________________________________________________________ ___ ___ 185 ___ 171 ________________________________________________________________________________________________________ (Wis. Admin. Code Ch.allComm 67).deposits If not exempt, (Buyer)rents (Seller) SSTRIKE ONEE (        shall be (oral) responsible for ___ 175 ___ 166 ________________________________________________________________________________________________________ lease(s) and transfer security and prepaid thereunder to Buyer at closing. The terms of the (written) SSTRIKE 178 ________________________________________________________________________________________________________ ___ ___ 186 ________________________________________________________________________________________________________ ___ 172 compliance, including allare costs, with Wisconsin Rental Weatherization Standards. If Seller is responsible for compliance, Seller___ shall ___ 176 ___ 167 ________________________________________________________________________________________________________ ONEE lease(s), if any, ______________________________________________________________________________________ 179 ________________________________________________________________________________________________________ ___ ___ ___ 187 ________________________________________________________________________________________________________ ___ 173 provide a Certificate of Compliance at closing. ___ 177 ___ 168 ________________________________________________________________________________________________________ ______________________________. Insert additional terms, if any, at lines 174-188 or 514-519 or attach as an addendum per line 513. ___ 180 ________________________________________________________________________________________________________ ___ ___ 188 ________________________________________________________________________________________________________ ___ ___ 174 ADDITIONALPROVISIONS/CONTINGENCIES ____________________________________________________________________ 169 ________________________________________________________________________________________________________ CAUTION: The Association may have the power to prohibit, limit or regulate Unit rentals now or in the future. ___ 178 ___ ___ 181 ________________________________________________________________________________________________________ ___ ___ 175 ________________________________________________________________________________________________________ ___ 170 ________________________________________________________________________________________________________ RENTAL WEATHERIZATION This transaction (is) (is not) SSTRIKE ONEE exempt from Wisconsin Rental Weatherization Standards 179 ___ ______ ___ 182 ________________________________________________________________________________________________________ ___ 176 ___ 171 ________________________________________________________________________________________________________ (Wis. Admin. Code Ch. Comm 67). If not exempt, (Buyer) (Seller) SSTRIKE ONEE (        shall be responsible ___ 180 ________________________________________________________________________________________________________ ___for 183 ________________________________________________________________________________________________________ ___ ___ ___ 177 ___ 172 ________________________________________________________________________________________________________ compliance, including all costs, with Wisconsin Rental Weatherization Standards. If Seller is responsible for compliance, Seller shall ______ 181 ________________________________________________________________________________________________________ ___ ___ 184 ________________________________________________________________________________________________________ ___ 178 ___ 173 ________________________________________________________________________________________________________ provide a Certificate of Compliance at closing. ___ 182 ________________________________________________________________________________________________________ ___ 156 ___ 185 ________________________________________________________________________________________________________ ___ 179 ___ ___ ___ 174 ________________________________________________________________________________________________________ ADDITIONALPROVISIONS/CONTINGENCIES ____________________________________________________________________ 183 ________________________________________________________________________________________________________ ___ ___ ___ 186 ________________________________________________________________________________________________________ ___ ___ 180 ________________________________________________________________________________________________________ ___ ___ 175 ________________________________________________________________________________________________________ ________________________________________________________________________________________________________ ___ ___ 184 ___ ___ 187 ________________________________________________________________________________________________________ ___ ___ 181 ___ ___ 176 ________________________________________________________________________________________________________ ________________________________________________________________________________________________________ ___ 129 130

Offers to Purchase - 10

Lines 189-202 Real Estate Condition Report

Page 4 of 9, WB-14

REAL ESTATE CONDITION REPORT Wisconsin law requires owners of property which includes 1-4 dwelling units to provide buyers with a Real Estate Condition Report. Excluded from this requirement are sales of property that has never been inhabited, sales exempt 191 from the real estate transfer fee, and sales by certain court-appointed fiduciaries (for example, personal representatives who have never 192 '-(#,"*'(*,0" '*%' ,"('*,#+ '-&#&#+,,1   "$/(*'.#+ 2  #+$'+-* . . . the owner of the 193 property shall furnish, not later than 10 days after acceptance of the contract of sale . . ., to the prospective buyer of the property a 194 completed copy of the report . . . A prospective buyer who does not receive a report within the 10 days may, within 2 business days after 195 the end of that 10 day period, rescind the contract of sale . . . by delivering a written notice of rescission to the owner or the owner's 196 !&,3-0*%0$+'".*,#&*+#++#'&*#!",+# $+,,'ndition Report disclosing defects is furnished before expiration of 197 the 10 days, but after the Offer is submitted to Seller. Buyer should review the report form or consult with an attorney for additional Page 4 ofto9,which WB-14 198 information regarding rescission rights. Wis. Stat. § 709.03 provides that when the Property is a Condominium Unit, the property 199 RealESTATE Estate Condition Report appliesWisconsin is the Condominium theofCommon Elements of the and any Limited 189 the REAL CONDITION REPORT law requires Unit, owners property which includes 1-4Condominium dwelling units to provide buyers 200 Elements that may be used Excluded only by the owner the Condominium being transferred. Wis. Stat. 709.02(2)sales requires that 190 Common with a Real Estate Condition Report. from this of requirement are salesUnit of property that has never been§inhabited, exempt 201 Seller also furnish a Condominium addendum to the Real Estate Condition Report and a copy of the executive summary along with the 191 from the real estate transfer fee, and sales by certain court-appointed fiduciaries (for example, personal representatives who have never 202 Estate Condition Report.'*%' ,"('*,#+ '-&#&#+,,1   "$/(*'.#+ 2  #+$'+-* . . . the owner of the 192 Real '-(#,"*'(*,0" 203 required to have anofexecutive summary Stat.prospective § 703.365(1)(b) (8).property a 193 NOTE: propertySmall shall Condominiums furnish, not latermay thannot 10 be days after acceptance the contract of saleper . . Wis. ., to the buyerand of the 204 5 CONDOMINIUM DISCLOSURE MATERIALS: Seller agrees to provide Buyer, within 10 days of acceptance of Offer, but no later than The real estate section same in 10 the condominium offer asafter it is in 194 completed copy ofcondition the report . . report . A prospective buyer is whosubstantially does not receive athe report within the days may, within 2 business days 205 15 days prior to closing, current and accurate copies of the Condominium disclosure materials required by Wis. Stat. 195 the end of that 10 day period, rescind the contract of sale . . . by delivering a written notice of rescission to the owner or the owner's the residential offer except that the seller’s real estate condition report also reports conditions that 206 § 703.33. The Condominium disclosure materials include a copy of the following and any amendments to any of these [except as may be 196 !&,3-0*%0$+'".*,#&*+#++#'&*#!",+# $+,,'ndition Report disclosing defects is furnished before expiration of exist in the common elements andthan limited common to conditions affecting the 207 limited for small Condominiums with no more 12 units per Wis. Stat. §elements 703.365(1)(b)in andaddition (8)]: 197 the 10 days, but after the Offer is submitted to Seller. Buyer should review the report form or consult with an attorney for additional 208 (a) proposed or existing Declaration, bylaws and any rules or regulations, and an index of the contents; condominium unit. It also includes the statutory reference to a seller’s requirement a seller furnish 198 information regarding rescission rights. Wis. Stat. § 709.03 provides that when the Property is a Condominium Unit, that the property to which proposed or existing articles incorporation of the Association, it isreport or is to be incorporated; 199 the (b) Real Estate addendum Condition Reporttoof applies is theestate Condominium Unit,if the Common Elements of the any Limited a 209 condominium the real condition along with an Condominium executive and summary of the 210 (c) proposed or existing management contract, employment contract or other contract affecting theWis. use,Stat. maintenance or access ofthat all 200 Common Elements that may be used only by the owner of the Condominium Unit being transferred. § 709.02(2) requires condominium disclosure requirements. 211 or part of the Condominium; 201 Seller also furnish a Condominium addendum to the Real Estate Condition Report and a copy of the executive summary along with the 212 (d) projected annual operating budget for the Condominium including reasonable details concerning the estimated monthly payments Lines 204-234 Condominium Disclosure Materials 202 Real Estate Condition Report. 213 by the purchaser for assessments andbeother monthly charges; 203 NOTE: Small Condominiums may not required to have an executive summary per Wis. Stat. § 703.365(1)(b) and (8). 214 (e) leases to which Unit owners or the Association willagrees be a party; 204 5 CONDOMINIUM DISCLOSURE MATERIALS: Seller to provide Buyer, within 10 days of acceptance of Offer, but no later than 215 (f) general description of any contemplated expansion of Condominium including eachdisclosure stage of expansion the maximum number 205 15 days prior to closing, current and accurate copies of the Condominium materials and required by Wis. Stat. 216 of Units that can be addeddisclosure to the Condominium; 206 § 703.33. The Condominium materials include a copy of the following and any amendments to any of these [except as may be 217 (g) for Unitsmall floorCondominiums plan showing location Common Elements other available and to Unit 207 limited with noofmore than 12 units perand Wis. Stat.facilities § 703.365(1)(b) (8)]:owners; 218 (h) executive summary. 208 (a) the proposed or existing Declaration, bylaws and any rules or regulations, and an index of the contents; 219 /+ & '-(# +,*-,-*of(*#'* ,' ," *'*#&! ," 209   ," (b)'&'%#&#-% proposed or existing articles of incorporation the Association, if it is or'is to be'&'%#&#-% incorporated; $*,#'& #, #+  2'&.*+#'& 220 '&'%#&#-%&,"'&'%#&#-%#+$'+-*%,*#$+3 '*'&.*+#'& Condominium with five more Units alsoor include: 210 (c) proposed or existing management contract, employment contract or other contract affecting the or use, maintenance access of all 221 +,,%&, + '& & #&(&&, &!#&*+ '* *"#,,+ *('*, +*##&! ," (*+&, '&#,#'& '  +,*-,-*al, 211 (1)  or$*&,4+ part of the Condominium; 222 mechanical electrical installations; 212 (d) projectedand annual operating budget for the Condominium including reasonable details concerning the estimated monthly payments 223 statement of thefor useful life of the items covered in (1), unless a statement that no representations are being made is provided, and 213 (2) aby the purchaser assessments and other monthly charges; 224 listleases of notices of uncured code or municipal violations, including an estimate of the costs of curing the violations. 214 (3) a(e) to which Unit owners or other the Association will be a party; 225 Wis. Stat.of§any 703.33(4)(a), Buyer may, within 5 businessincluding days of each receipt of all the required documents, 215 As provided (f) generalindescription contemplated expansion of Condominium stage of expansion anddisclosure the maximum number 226 rescind this Offer by written notice delivered to Seller. If the disclosure materials are delivered to Buyer and Buyer does not receive all 216 of Units that can be added to the Condominium; 227 of the disclo+-*'-%&,+-0*%0/#,"#& -+#&++0+' -0*4+*#(,' ,"#+$'+-*%,*#$+#,"**+#&," * 217 (g) Unit floor plan showing location of Common Elements and other facilities available to Unit owners; 228 '**)-+,&0%#++#&!'-%&,+$$*"+ -+#&++0+ '$$'/#&!*#(,' -0*4+*)-+, '*%#++#&!'-%&,+,'liver 218 (h) the executive summary. 229 th*)-+,'-%&,+-0*%0*+#&,"+$/#,"#& -+#&++0+' ,"*$#*' -0*4+*#(,' *)-+,%#++#ng 219   ," '&'%#&#-% /+ & '-(# +,*-,-* (*#'* ,' ," *'*#&! '  ," '&'%#&#-% $*,#'& #, #+  2'&.*+#'& 230 '-%&,+'*,"$#& '*$$*4+$#.*0' ,"'-%&,+#+,,§ 703.33(4)(b)]. 220 '&'%#&#-%&,"'&'%#&#-%#+$'+-*%,*#$+3 '*'&.*+#'& Condominium with five or more Units also include: 231 The Parties agree that the 5 busin !  !"      221 (1)  $*&,4+ +,,%&, + '& & #&(&&, &!#&*+ '* *"#,,+ *('*, +*##&! ," (*+&, '&#,#'& '  +,*-,-*al, 232   " ! 222 mechanical and electrical installations; 233 NOTE: BUYER SHOULD READ ALL DOCUMENTS CAREFULLY. BROKERS MAY PROVIDE A GENERAL EXPLANATION OF 223 (2) a statement of the useful life of the items covered in (1), unless a statement that no representations are being made is provided, and 234 THE PROVISIONS OF THE DOCUMENTS BUT ARE PROHIBITED BY LAW FROM GIVING LEGAL ADVICE OR OPINIONS. 224 5 (3)ADDITIONAL a list of notices of uncured codeISSUES: or other In municipal an estimate of the costs of curing theprovided violations. 235 CONDOMINIUM additionviolations, to reviewincluding of the disclosure materials required to be by Wis. Stat. § 225 703.33, As provided Wis. wish Stat. to § 703.33(4)(a), Buyer may, 5 businessmaterials days of receipt all available, the required disclosure documents, 236 Buyerin may consider reviewing otherwithin Condominium as mayofbe such as copies of: the 226 '&'%#&#-%++'#,#'&4+ rescind this Offer by written notice delivered to Seller. If the disclosure materials areofdelivered Buyer and Buyer does the notminutes receive all 237 #&&#$+,,%&,+ '*,"$+,,/'0*+the minutes the last 3toUnit owners4 meetings, of 227 Condominium of the disclo+-*'-%&,+-0*%0/#,"#& -+#&++0+' -0*4+*#(,' * 238 board meetings during the 12 months prior to acceptance, information,"#+$'+-*%,*#$+#,"**+#&," about contemplated or pending Condominium 228 special '**)-+,&0%#++#&!'-%&,+$$*"+ -+#&++0+ -0*4+*)-+, '*%#++#&!'-%&,+,'liver 239 assessments, the Association's certificate of insurance, a'$$'/#&!*#(,' statement from the Association indicating the balance of reserve 229 accounts th*)-+,'-%&,+-0*%0*+#&,"+$/#,"#& -+#&++0+' ,"*$#*' *)-+,%#++#ng 240 controlled by the Association, a statement from the Association of the amount of any -0*4+*#(,' unpaid assessments on the Unit (per 230 Wis. '-%&,+'*,"$#& '*$$*4+$#.*0' ,"'-%&,+#+,,§ 703.33(4)(b)]. 241 Stat. § 703.165), any Common Element inspection reports (e.g. roof, swimming pool, elevator and parking garage inspections, 231 etc.), The Parties agreelitigation that theinvolving 5 busin !  !"      242 any pending the Association and the Declaration, bylaws, budget and/or most recent financial statement of 232 any   " ! 243 master association or Additional Association the Unit may be part of. Contingencies for review and approval of those additional 233 materials NOTE: BUYER SHOULD READmay ALLbe DOCUMENTS BROKERSper MAY PROVIDE A GENERAL EXPLANATION OF 244 which may be available provided for inCAREFULLY. additional contingencies lines 174-188 or 514-519 or in an addendum per 234 line THE513. PROVISIONS OFallTHE DOCUMENTS LAW GIVING Association, LEGAL ADVICE OPINIONS. 245 Because not of these materials BUT may ARE exist PROHIBITED or be availableBY from theFROM Condominium SellerOR may wish to verify 235 availability 5 ADDITIONAL In additionupon to review the disclosure materialstorequired 246 prior toCONDOMINIUM acceptance if theISSUES: Offer is contingent Sellerofproviding these materials Buyer. to be provided by Wis. Stat. § 236 703.33, Buyer may wish to consider reviewing other Condominium materials as may be available, such as copies of: the A seller must provide condominium disclosure materials to a buyer within 10 days of an accepted offer 237 '&'%#&#-%++'#,#'&4+ #&&#$+,,%&,+ '*,"$+,,/'0*+the minutes of the last 3 Unit owners4 meetings, the minutes of and no later than daysduring priortheto12closing. After receiving the documents, a buyer hasCondominium five business 238 Condominium board15 meetings months prior to acceptance, information about contemplated or pending 239 special assessments, the Association's certificate of insurance, a statement from the Associationfor indicating the balance reserve fails days to rescind the offer. The buyer does not have to provide a reason rescission. If aof seller 240 accounts controlled by the Association, a statement from the Association of the amount of any unpaid assessments on the Unit (per 241 Wis. Stat. § 703.165), any Common Element inspection reports (e.g. roof, swimming pool, elevator and parking garage inspections, 242 etc.), any pending litigation involving the Association and the Declaration, bylaws, budget and/or most recent financial statement of 243 any master association or Additional Association the Unit may be part of. Contingencies for review and approval of those additional 157 244 materials which may be available may be provided for in additional contingencies per lines 174-188 or 514-519 or in an addendum per 245 line 513. Because not all of these materials may exist or be available from the Condominium Association, Seller may wish to verify 246 availability prior to acceptance if the Offer is contingent upon Seller providing these materials to Buyer. 189 190

(b) proposed or existing articles of incorporation of the Association, if it is or is to be incorporated; (c) proposed or existing management contract, employment contract or other contract affecting the use, maintenance or access of all 211 or part of the Condominium; REAL ESTATE SALES 212 (d) projected annual operating budget for the Condominium including reasonable details concerning the estimated monthly payments 213 by the purchaser for assessments and other monthly charges; 214 (e) leases to which Unit owners or the Association will be a party; 215 (f) general description of any contemplated expansion of Condominium including each stage of expansion and the maximum number of Units that can be added to the Condominium; to216provide these documents, a buyer has five business days to rescind the offer. If the seller fails to 217 (g) Unit floor plan showing location of Common Elements and other facilities available to Unit owners; provide all the documents, the buyer has five business days to rescind the offer or request the missing 218 (h) the executive summary. documents. If a buyer requests missing documents, has five business to provide 219   ," '&'%#&#-% /+ & '-(# the +,*-,-* (*#'* ,' ," *'*#&! 'the  ,"seller '&'%#&#-% $*,#'& #, #+days  2'&.*+#'& them. A buyer can then rescind the offer within'*'&.*+#'& five business days of the of the 220 '&'%#&#-%&,"'&'%#&#-%#+$'+-*%,*#$+3 Condominium with five earlier or more Units also buyer’s include: receipt Page of 9, WB-14 (1) missing  $*&,4+ +,,%&, + &seller’s #&(&&, &!#&*+ for '* *"#,,+ *('*,them. +*##&! ," (*+&, '&#,#'& ' 6+,*-,-*al, of221the documents or '& the deadline providing The buyer’s deadline for all of 222 mechanical andparcels electrical installations; 310 from one or more ofat real estate. The owner declares his oractual her property to be of a Condominium. The Declaration divides themissthese scenarios begins the earlier of the buyer’s receipt the materials, the requested 223 a statement of the useful of the items covered in (1), unless a statementwhich that no are being made is provided, 311 (2) property into Units, which are life individually owned, and the Common Elements, arerepresentations owned in common by all of the Unit owners and ing materials, or the seller’s for delivery. 224 a list of notices of uncured codedeadline or other municipal violations, including an estimate of the costs of curing the violations. 312 (3) together. 313 As DEFECT$ %!   225 provided in Wis. Stat. § 703.33(4)(a), Buyer may, within 5 business days of receipt  #!tly of all the required disclosure documents, 314 rescind impair the health or safety of future occupants of the Property; or that if not repaired, removed replaced would 226 this Offer by written notice delivered to Seller. If the disclosure materials are delivered to Buyer and Buyeror does notoften receive all The WB-14 lists the required disclosure materials atpremises, lines 208-224. The documents are numer315 of significantly shorten or adversely affect the expected normal life of the or could result in a special assessment as a result of* a 227 the disclo+-*'-%&,+-0*%0/#,"#& -+#&++0+' -0*4+*#(,' ,"#+$'+-*%,*#$+#,"**+#&," ous and would be toElement. expensive to reproduce for '$$'/#&!*#(,' every prospective buyer.'*%#++#&!'-%&,+,'liver Because it would be both 316 '**)-+,&0%#++#&!'-%&,+$$*"+ -+#&++0+ condition of a Common 228 -0*4+*)-+, 317 th*)-+,'-%&,+-0*%0*+#&,"+$/#,"#& -+#&++0+' FIXTURE: $ "%#!###sociated withaland or improvements so as tothem expensive and difficult to furnish the documents to all prospective buyers, seller must furnish 229 ,"*$#*' -0*4+*#(,' *)-+,%#++#ng 318 be treated as part of the real estate, including, without limitation, physically attached items not easily removable without damage to the 230 '-%&,+'*,"$#& '*$$*4+$#.*0' ,"'-%&,+#+,,§ 703.33(4)(b)]. of 9, WB-14 only to buyers whom thetoseller accepts offers. 319 premises, itemsfrom specifically adapted the premises and items customarily treated as fixtures, including, but not limitedPage to, 6all: garden 231 The Parties agree that the 5 busin !  !"      320 bulbs; plants; shrubs and trees; screen and storm doors and windows; electric lighting fixtures; window shades; curtain and traverse rods; 310 from one or more parcels of real estate. The owner declares his or her property to be a Condominium. The Declaration divides the 232   " ! 321 property blinds and shutters; central heating andowned, coolingand units and attached equipment; water heatersin and treatment systems; sump pumps; 311 into Units, which are individually the Common Elements, which are owned common by all of the Unit owners 233 NOTE: BUYER SHOULD READ ALL DOCUMENTS CAREFULLY. BROKERS MAY PROVIDE A GENERAL EXPLANATION OF Lines 235-246 Issues 322 or fittedAdditional floor coverings; Condominium awnings; attached antennas; garage door openers and remote controls; installed security systems; 312 attached together. 234 THE PROVISIONS OF THE BUT ARE PROHIBITED BYcomponent LAW FROM GIVING LEGAL ADVICE OPINIONS. 323 vacuum systems and DOCUMENTS accessories; in-ground sprinkler systems and parts; built-in appliances; ceilingOR fans; fences; storage 313 central DEFECT$ %!   #!tly 235 ADDITIONAL CONDOMINIUM and ISSUES: In addition to review of the  disclosure materials required to be provided by Wis. Stat. § 324 5 buildings on permanent docks/piers on permanent 314 impair the health orfoundations safety of future occupants of the foundations. Property; or that if not repaired, removed or replaced would 236 703.33, Buyer may wishfixtures to consider reviewingbyother as may be available, suchwater as copies of: the 325 to betheretained SellerCondominium or of which arematerials rented softener orassessment other 315 CAUTION: significantly Exclude shorten orany adversely affect expected normal life the premises, or (e.g., could water result in a special asconditioning a result of a 237 '&'%#&#-%++'#,#'&4+ #&&#$+,,%&,+ '*,"$+,,/'0*+the minutes of the last 3 Unit owners4 meetings, the minutes of 326 systems, home entertainment and satellite dish components, L.P. tanks, etc.) on lines 20-21. 316 condition of a Common Element. 238 board meetings during Wis. the 12 months prior to acceptance, information about contemplated ororpending Condominium 327 ELEMENTS: Stat. § 703.02(10) provides that, $&   '     317 Condominium LIMITED FIXTURE:COMMON $ "%#!###sociated with land improvements so as to 328 special identified inas a declaration orAssociation's onestate, a condominium plat as exclusive use of one or more less thanthe all balance of th!% 239 assessments, thereal certificate of reserved insurance, athe statement from the Association indicating of reserve 318 be treated part of the including, without limitation,forphysically attached items not easilybut removable without damage to the 329 A Unit owner does not Limited to Common Element, for the percentage interest in the Common Elements, butonisto, the only one 240 controlled byown the aAssociation, a statement from the Association oftreated the amount of anyincluding, unpaid assessments the (per 319 accounts premises, items specifically adapted the premises andexcept items customarily as fixtures, but not limited all:Unit garden 330 who use it, either alone orscreen with Element others (but not alland Unit owners). This exclusive use may be subject tocurtain restrictions stated inrods; the 241 Stat. § 703.165), any Common inspection reports (e.g.electric roof, swimming pool, elevator and parking garage inspections, 320 Wis. bulbs;may plants; shrubs and trees; and storm doors windows; lighting fixtures; window shades; and traverse 331 etc.), Declaration or the Condominium rules. Limited Common Elements mayequipment; include a storage area,and/or patio, balcony, garage parking space or of a 242 any litigation the Association the Declaration, bylaws, budget recent financial statement 321 blinds andpending shutters; central involving heating and cooling units and and attached water heaters and most treatment systems; sump pumps; 332 boat slip. or association 322 any attached fitted floor coverings; awnings; attached openers and for remote controls; installedofsecurity systems; 243 master or Additional Association theantennas; Unit may garage be part door of. Contingencies review and approval those additional 333 PROPERTY !$ #%4-7. 323 materials central vacuum and accessories; in-groundfor sprinkler systemscontingencies and component appliances; ceiling fans; fences; storage 244 which systems may be available may be provided in additional perparts; linesbuilt-in 174-188 or 514-519 or in an addendum per 334 buildings UNIT: on Wis. Stat. § 703.02(15)  $& '## 324 permanent docks/piers permanent foundations. 245 line 513. Because notfoundations all of theseand materials mayonexist or be available from the Condominium Association, Seller may wish to verify 335 or more cubicles of airany at one or more levels of space one or more rooms or enclosed spaces located on or more or parts 325 availability CAUTION: Exclude fixtures be retained by or Seller which are rented (e.g., water orone other waterfloors, conditioning 246 prior to acceptance if theto Offer iscontingent upon or Seller providing these materials to softener Buyer. 336 a bui   #    %etc.) Theon Unit owner is entitled to exclusive ownership and 326 thereof, systems,inhome entertainment and satellite dish components, L.P. tanks, lines 20-21. 337 possession his or herELEMENTS: Unit. A Unit isWis. not Stat. necessarily limited to an apartment-like concept and ' may also  be a freestanding a 327 LIMITED ofCOMMON § 703.02(10) provides that, $&    house,  338 plus surroundingorland, land similar toplat a lot. Units mayfor also a separate area is but some distance from the basic 328 structure identified in aof declaration on aorcondominium as reserved theinclude exclusive use of one orthat more less thanmight allaway of th!% This section the condominium offer suggests additional documents a buyer want to review 339 dwelling Foraexample, a Unit may be defined to include storage area, patio,ingarage parkingElements, space or abut boat slip.only What is 329 individual A Unit owner doesarea. not own Limited Common Element, except for theapercentage interest the Common is the one during Additional documents include statements, from association 340 330  whothe may negotiations. use it, !$ %  either alone or with others (but not all Unit owners). Thisfinancial exclusive use may be subjectminutes to restrictions stated in the 341 Declaration PROPERTY ANDrules. SURVEYS acknowledges thatinclude any land, Unit, building orcurrent room dimensions, total acreage 331 orDIMENSIONS the Condominium Limited Common Elements related may area,or patio, balcony, garage or parking space orora meetings, insurance certificates, andBuyer information toa storage pending assessments. 342 332 building boat slip.or Unit square footage figures, provided to Buyer by Seller or by a broker, may be approximate because of rounding, formulas 343 used or other reasons, unless verified by survey or other means. 333 PROPERTY !$ #%4-7. Lines 346-354 Property Damage Between Acceptance Closingfigures, and land, building, Unit or 344 CAUTION: Buyer should verify total square footage formula, total squareand footage/acreage 334 UNIT: Wis. Stat. § 703.02(15)  $& '## 345 dimensions, if material. 335 room or more cubicles of air at one or more levels of space or one or more rooms or enclosed spaces located on one or more floors, or parts 346 thereof, PROPERTY DAMAGE ACCEPTANCE CLOSING Seller the Unit and anytoLimited Common Elements 336 in a bui BETWEEN  #    AND  %shall Themaintain Unit owner is entitled exclusive ownership and 347 possession until the earlier of closing or occupancy in materially same condition asconcept of the date acceptance this Offer, except 337 of his or her Unit. A Unit is of notBuyer necessarily limitedthe to an apartment-like and ofmay also be aoffreestanding house,for a 348 structure ordinary wear and tear. If, prior the Unit damaged in an more than of theaway selling price, 338 plus surrounding land,toorclosing, land similar to aislot. Units may alsoamount includeofanot separate areafive thatpercent is some(5%) distance from the Seller basic 339 dwelling to area. Forthe example, a Unit mayitbe to condition include a storage area, garage or than a boat slip. What is 349 individual shall be obligated repair Unit and restore to defined the same that it was on patio, the day of thisparking Offer. space No later closing, Seller 340  !$ %  350  shall provide Buyer with lien waivers for all lienable repairs and restoration. If the damage shall exceed such sum, Seller shall promptly 341 PROPERTY AND SURVEYS Buyer acknowledges any land, Unit, Should buildingBuyer or room dimensions, totalOffer acreage or 351 notify Buyer inDIMENSIONS writing of the damage and this Offer may be canceledthat at option of Buyer. elect to carry outorthis despite 342 or Unit Buyer squareshall footage figures,toprovided to Buyer by Selleriforany, by arelating broker,tomay approximate because formulas 352 building such damage, be entitled the insurance proceeds, the be damage to the Unit, plusofa rounding, credit towards the 343 or other verifiedofbySeller's surveydeductible or other means. 353 used purchase pricereasons, equal tounless the amount on such policy, if any. However, if this sale is financed by a land contract or a 344 verify proceeds total square square footage/acreage 354 CAUTION: mortgage toBuyer Seller, should any insurance shallfootage be held formula, in trust fortotal the sole purpose of restoring thefigures, Unit. and land, building, Unit or 345 dimensions, if material. 355 room  PRE-CLOSING WALK-THROUGH Within 3 days prior to closing, at a reasonable time pre-approved by Seller or Seller's 346 PROPERTY DAMAGE CLOSING Sellerright shall maintain the Unit any Limited 356 agent, Buyer have BETWEEN the right to ACCEPTANCE walk through theAND Unit and Limited Common Elements toand determine that Common there hasElements beenwhether no The rules for ashall seller’s obligations to repair and a any buyer’s to cancel the offer depending on 347 the earlier of closing or occupancy of Unit Buyerand in materially theCommon same condition as ofexcept the date of acceptance of thistear Offer, except for 357 until significant change in the condition of the any Limited Elements, for ordinary wear and and changes the damage is 5% or more of the purchase price are the same for the residential and condominium 348 and tear. prior closing,Seller the Unit damaged in anhave amount not more five percent (5%) of the 358 ordinary approvedwear by Buyer, andIf,that anytodefects hasisagreed to cure beenofrepaired in than the manner agreed to by the selling Parties.price, Seller offers. The difference between theanditoffers is that calculation inNothe condominium 349 be obligated to repair the Unit andBuyer restore to the same condition thatdamage it of was on the day of this later than of closing, Seller 359 shall DISTRIBUTION OF INFORMATION Seller authorize thethe agents Buyer and Seller to: Offer. (i) distribute copies the Offer to offer 350 provide Buyer with lien waivers for allas lienable and other restoration. If theservice damage shall exceed sum, Seller shall promptly 360 shall Buyer's lender, appraisers, insurance companies andlimited any settlement providers for thesuch transaction as defined by the accounts for damage totitle the unit wellrepairs as common elements. 351 Buyer inSettlement writing of the damage and Offer may canceled optionfinancing of Buyer.concession Should Buyer elect carry out this Offer despite 361 notify Real Estate Procedures Actthis (RESPA); (ii)bereport salesat and data to to multiple listing service sold 352 damage, shall beactive entitledlisting, to thepending insurance proceeds, any,and relating to theconcession damage to information the Unit, plus the 362 such databases; andBuyer (iii) provide sale, closed ifsale financing anda credit data, towards and related Lines 355-358 Buyer’s Pre-Closing Walk-Through 353 price equal toseller the amount of Seller's deductible on such policy, if any.party However, if this sale is financed by acomparable land contractsales, or a 363 purchase information regarding contributions, incentives or assistance, and third gifts, to appraisers researching 354 to Seller,and anylistings, insurance proceeds 364 mortgage market conditions upon inquiry. shall be held in trust for the sole purpose of restoring the Unit. 355 daysgood priorfaith to closing, a reasonable time pre-approved by conditions Seller or Seller's 365  DEFAULT PRE-CLOSING Seller and BuyerWALK-THROUGH each have the legalWithin duty to3 use and dueatdiligence in completing the terms and of this 356 shallfailure have to theperform right to any walkobligation through the Unitthis andOffer any isLimited Common to determine that there been for no 366 agent, Offer. ABuyer material under a default which Elements may subject the defaulting party has to liability 357 in the condition of the Unit and any Limited Common Elements, except for ordinary wear and tear and changes 367 significant damages orchange other legal remedies. 358 by Buyer, andSeller that any 368 approved If Buyer defaults, may:defects Seller has agreed to cure have been repaired in the manner agreed to by the Parties. 359 OF INFORMATION Buyer and the Seller authorize theasagents Buyer and Seller to: (i) price; distribute 369 DISTRIBUTION (1) sue for specific performance and request earnest money partialof payment of the purchase or copies of the Offer to appraisers, title companies anythe other settlement service providers for unit the or transaction defined by the 370 Buyer's (2)lender, terminate the Offer and insurance have the option to: (a) and request earnest money asthrough liquidated damages; (b) suethe foras actual damages. A360 buyer’s pre-closing walk-through permits the buyer to walk the and limited common 371 Real If Seller Settlement defaults, Buyer may: 361 Estate Procedures Act (RESPA); (ii) report sales and financing concession data to multiple listing service sold elements. 372 databases; (1) sueand for specific performance; or 362 (iii) provide active listing, pending sale, closed sale and financing concession information and data, and related 373 (2) terminate theseller Offer and request the return of the earnest money, actual damages, or both.researching comparable sales, 363 information regarding contributions, incentives or assistance, and sue thirdfor party gifts, to appraisers 374 Inconditions addition, the may seek any other remedies available in law or equity. 364 market andParties listings, upon inquiry. 365 DEFAULT Seller and Buyer each have the legal duty to use good faith and due diligence in completing the terms and conditions of this 158 366 Offer. A material failure to perform any obligation under this Offer is a default which may subject the defaulting party to liability for 367 damages or other legal remedies. 368 If Buyer defaults, Seller may: 209 210

Ownership Act, Condominium Declaration and plat, Association articles of incorporation, bylaws and rules and amendments to the above and ________________________________________________________________________________________________________ _____ 417 ________________________________________________________________________________________________________ Offers to Purchase - 10 _____ 418 ________________________________________________________________________________________________________ 419 which constitutes merchantable title for purposes of this transaction. Seller shall complete and execute the documents necessary to 420 &#&(#"*,"( &/'#'("$, the Wisconsin Real Estate Transfer Fee. 421 WARNING: Municipal and zoning ordinances, recorded building and use restrictions, covenants and easements may prohibit Lines 424-427 Title or Evidence 422 certain improvements uses and therefore should be reviewed, particularly if Buyer contemplates making improvements to 423 Property or a use other than the current use. Page 8 of 9, WB-14 424 0TITLE EVIDENCE: Seller shall give evidence of title in the form of an owner's policy of title insurance in the amount of the purchase 425 price on a current ALTA form (including the ALTA Condominium endorsement or equivalent) issued by aninsurance insurer 433 & PROVISION OF MERCHANTABLE TITLE: For purposes of closing, title evidence shall be acceptable if the required title 426 licensed to write title insurance in Wisconsin. Seller shall pay all costs of providing title evidence to Buyer. Buyer shall pay all costs of 434 commitment is delivered to Buyer's attorney or Buyer not less than 5 business days before closing, showing title to the 427 titleofevidence required by Buyer/' 435 providing Property as a date no more than 15 days"& before delivery of such title evidence to be merchantable per lines 409-419, subject only to 428 GAP ENDORSEMENT  the &'  $&#*  -$. %)* "( $ #*& &/' ),&/' ISTRIKEIIONEI 436 0 liens which will be paid out of proceeds of closing and"#&'!"( standard title#& insurance requirements and( exceptions, as appropriate. Lines 424-427 requires cost thattoCLOSING: title insurance includes ALTA Condominium endorsement. 429 &/'."(&''(&" provide coverage liens or encumbrances firstshall filed or recorded the effective of Page 8date of 9, WB-14 437 - &TITLE NOT ACCEPTABLE FOR If title is for notany acceptable for the closing, Buyer notify Seller after in writing of objections to the title This 430 title insurance commitment and before the deed is recorded, subject to the title insurance policy exclusions and exceptions, provided the endorsement insures lossSeller or damage defects relating to the 438 by the time set for closing.against In such event, shall have afrom reasonable time, but not exceeding 15 condominium days, to remove thedeclaration, objections, and the 433 & PROVISION MERCHANTABLE TITLE: Forendorsement purposes oforclosing, title evidence shallisbe acceptable if the required title insurance 431 willOF issue the Ifnecessary a gap equivalent gap coverage not available, Buyer may written notice 439 title the company time forinterests closing shall beendorsement. extended as for this purpose. In the event that Seller is unable to remove saidgive objections, Buyer percentage allocated to the units, liens, and other condominium related matters. 434 commitment is delivered to Buyer's attorney or Buyer not less than 5 business days before closing, showing title to the 432 is not acceptable for closing (seethereof, lines 437-442). 440 that shalltitle have 5 days from receipt of notice to deliver written notice waiving the objections, and the time for closing shall be extended 435 Property as of a date no more than 15 days before delivery of such title evidence to be merchantable per lines 409-419, subject only to 441 accordingly. If BuyerCondominium does not waive the objections, this Offer shall be null and void. Providing title evidence acceptable for closing does Line 443 Unpaid 436 liens which will be paid out of the proceeds ofAssessment closing and standard title insurance requirements and exceptions, as appropriate. 442 not extinguish Seller's obligations to give merchantable title to Buyer. 437 &TITLE NOT ACCEPTABLE FOR CLOSING: If title is not acceptable for closing, Buyer shall notify Seller in writing of objections to title 443 & UNPAID CONDOMINIUM ASSESSMENTS: All unpaid assessments shall be paid by Seller no later than closing. 438 by the time set for closing. In such event, Seller shall have a reasonable time, but not exceeding 15 days, to remove the objections, and 444 & SPECIAL ASSESSMENTS/OTHER EXPENSES: Special assessments, if any, including those by any applicable homeowners or 439 the time for closing shall be extended as necessary for this purpose. In the event that Seller is unable to remove said objections, Buyer 445 Condominium levied ormust for work actually commenced prior to the date assessments of this Offer shall beno paid by Seller no closing. later than Line 443 statesAssociation, that a seller pay all unpaid condominium later than 440 shall have 5 days from receipt of notice thereof, to deliver written notice waiving the objections, and the time for closing shall be extended 446 closing. All other special assessments shall be paid by Buyer. 441 accordingly. If Buyer does not waive the objections, this Offer shall be null and void. Providing title evidence acceptable for closing does 447 CAUTION: Consider a special agreement if area assessments, property owners or Condominium Association special Lines Special Assessments/ Other Expenses 442 not 444-452 extinguish Seller's obligations to give merchantable title to Buyer. 448 assessments, special charges for current services under Wis. Stat. § 66.0627 or other expenses are contemplated.    443 & UNPAID CONDOMINIUM ASSESSMENTS: All unpaid assessments shall be paid by Seller no later than closing. 449       -time charges or ongoing use fees for public improvements (other than those resulting in special 444 & SPECIAL ASSESSMENTS/OTHER EXPENSES: Special assessments, if any, including those by any applicable homeowners or 450 assessments) relating to curb, gutter, street, sidewalk, sanitary and stormwater and storm sewer (including all sewer mains 445 Condominium Association, levied or for work actually commenced prior to the date of this Offer shall be paid by Seller no later than 451 and hook-up/connection and interceptor charges), parks, street lighting and street trees, and impact fees for other public 446 closing. All other special assessments shall be paid by Buyer. 452 facilities, as defined in Wis. Stat. § 66.0617(1)(f). 447 CAUTION: Consider a special agreement if area assessments, property owners or Condominium Association special 453 EARNEST MONEY 448 assessments, special charges for current services under Wis. Stat. § 66.0627 or other expenses are contemplated.    454 &HELD BY: Unless otherwise agreed, earnest money shall be paid to and held in the trust account of the listing broker (buyer's agent if 449       -time charges or ongoing use fees for public improvements (other than those resulting in special 455 Property is not listed or Seller's account if no broker is involved), until applied to the purchase price or otherwise disbursed as provided in 450 assessments) relating to curb, gutter, street, sidewalk, sanitary and stormwater and storm sewer (including all sewer mains 456 the Offer. 451 and hook-up/connection and interceptor charges), parks, street lighting and street trees, and impact fees for other public 457 CAUTION: Should persons other than a broker hold earnest money, an escrow agreement should be drafted by the Parties or 452 facilities, as defined in Wis. Stat. § 66.0617(1)(f). 458 an attorney. If someone other than Buyer makes payment of earnest money, consider a special disbursement agreement. 453 EARNEST MONEY 459 & DISBURSEMENT: If negotiations do not result in an accepted offer, the earnest money shall be promptly disbursed (after clearance 454 &HELD BY: Unless otherwise agreed, earnest money shalloffer be paidallocates to and held in the trust account of the listing broker (buyer'sbuyers agent if and Like thepayor's residential the condominium special between 460 from depositoryoffer, institution if earnest money is paid by check) to the person(s) who assessments paid the earnest money. At closing, earnest 455 Property is not listed or Seller's account if no broker is involved), until applied to the purchase price or otherwise disbursed as provided in sellers depending on when levy occurs and work commences with shall a seller responsible 461 money shall be disbursed accordingthe to the closing statement. If thiswhen Offer does not close, the earnest money be disbursed according for 456 the Offer. 462 to a written prior disbursement agreement signed byoffer all Parties toathisbuyer Offer. If responsible said disbursementfor agreement has not been delivered brokeroffer. those costs the date of the and those the by date ofto the 457 CAUTION: Should to persons other than a broker hold earnest money, an escrow agreement shouldafter be drafted the Parties or 463 within 60 days after the date set for closing, broker may disburse the earnest money: (1) as directed by an attorney who has reviewed the 458 an attorney. If someone otherspecific than Buyercaution makes payment of earnestbuyers money, consider a specialadisbursement agreement. for conThere is a condominium that informs to consider special agreement 464 transaction and does not represent Buyer or Seller; (2) into a court hearing a lawsuit involving the earnest money and all Parties to this by the Wisconsin Department of Regulation Licensing 1 ofclearance 10, WB-13 459 Approved & DISBURSEMENT: If negotiations do notand result in an acceptedassociation offer, the earnestspecial money shall be promptly disbursedPage (after templated condominium assessments. 46503-1-11 Offer; (Optional (3) assessments as directed courtincluding order; or Use (4) any Use Date)by07-1-11 (Mandatory Date)other disbursement required or allowed by law. Broker may retain legal services to direct 460 from payor's depository institution if earnest money is paid by check) to the person(s) who paid the earnest money. At closing, earnest 466 disbursement per (1) or to file an interpleader action per (2) and broker may deduct from the earnest money any costs and reasonable 461 money shall be disbursed according to the closingVACANT statement.LAND If this Offer doesTO notPURCHASE close, the earnest money shall be disbursed according WB-13 OFFER 467 attorneys fees, not to exceed $250, prior to disbursement.and Lines Inspections Contingency 462 to a476-512 written disbursement agreement and signed Testing by all Parties to thisthe Offer.Inspection If said disbursement agreement has not been delivered to broker 468 &LEGAL RIGHTS/ACTION: Broker's disbursement of earnest money does not determine the legal rights of the Parties in relation to this 463 within 60 days after thesubstantially date set for closing,the broker may disburse theresidential earnest money:offer (1) asexcept directed bythat an attorney who has reviewed the conThese sections are same as the aISbuyer can include 1 LICENSEE THIS OFFER ON money ____________________________________ OF BUYER) 469 Offer. Buyer'sDRAFTING or Seller's legal right to earnest cannot be determined by broker. At least 30[DATE] days prior to(AGENT disbursement per (1) or 464 transaction and does notor represent Buyer or Seller;common (2) into a court hearing a lawsuit involving to the the earnest money and all Parties to A thisseller tingencies to inspect test the limited elements in addition condominium unit. 2 (AGENT OFbroker SELLER/LISTING BROKER) (AGENT OFthe BUYER AND SELLER) STRIKE APPLICABLE 470 (4) above, shall send Buyer and Seller notice of disbursement by certified mail. IfTHOSE Buyer orNOT Seller disagree with broker's 465 Offer; (3) as directed by court order; or (4) any other disbursement required or allowed by law. Broker may retain legal services to direct 3 GENERAL PROVISIONS ThetoBuyer, 471 proposed disbursement, a lawsuit may be_____________________________________________________________________ filed to elements obtain a court such order regarding disbursement. Small Claims Court has jurisdiction over and cannot guarantee access common as the roof or clubhouse so the inspection 466 disbursement per (1) or to file an interpleader action per (2) and broker may deduct from the earnest money any costs and reasonable 4 _________________________________________________________________________, offersthese to purchase the Property 472 all earnest money disputes arising of the sale an of residential property with 1-4to dwelling units and other earnest money disputes. testing contingency does notout include automatic ability inspect or certain test elements. A buyer 467 attorneys fees, not to exceed $250, prior to disbursement. 5 known as [Street Address] _____________________________________________________________________________ 473 Buyer and Seller should consulting attorneys regarding their legal rights under this Offer in case of a dispute. Both Parties agree 468 &LEGAL RIGHTS/ACTION: Broker's disbursement of earnest money does not the legal rights of the Parties in by relation to this can always include aconsider specific common element as part ofdetermine the money inspection contingency indicating it 6 in of ________________________, County of ________________________, (Insert 474 tothe hold_____________________ the broker harmless from any liability for good faith disbursement of earnest in accordance with thisWisconsin Offer or applicable 469 Offer. Buyer's or Seller's legal right to earnest money cannot be determined by broker. At least 30 days prior to disbursement per (1) or at475 line 493 of the inspection contingency and include separate testing contingencies for common ele7 additional description, if any, lines 458-464 or 526-534 or earnest attach as an addendum per lineCode 525),Ch. onRL the18. following terms: Department of Regulation and at Licensing regulations concerning money. See Wis. Admin. 470 (4) above, broker shall send Buyer and Seller notice of the disbursement by certified mail. If Buyer or Seller disagree with broker's 8 ■ INSPECTIONS PURCHASE PRICE: _________________________________________________________________________________ 476 ANDmaterial TESTING Buyer may only conduct inspections or tests if specific contingencies are included as a part of this Offer. ments if these are provisions to a buyer. 471 proposed disbursement, a lawsuit may be filed to obtain a court order regarding disbursement. Small Claims Court has jurisdiction over 9 ____________________________________________________________ Dollars ($_________________________________). 477 # $       !     testing, 472 all earnest money disputes arising out of the sale of residential property with 1-4 dwelling units and certain other earnest money disputes. 10 ■other EARNEST MONEY of $ ____________________accompanies Offer earnest money $ ____________________ 478 than testing for leaking carbon monoxide, or testing for leaking this LP gas or and natural gas used as of a fuel source, which are hereby 473 Buyer and Seller should consider consulting attorneys regarding their legal rights under this Offer in case of a dispute. Both Parties agree 11 will be mailed, or commercially or personally delivered within ____________________ days of acceptance to listingUnit broker or 479 "#$            e and the 474 to hold the broker harmless from any liability for good faith disbursement of earnest money in accordance with this Offer or applicable 12 ________________________________________________________________________________________________ _____. 480 laboratory or other analysis of these materials.   !%      

 475 Department of Regulation and Licensing regulations concerning earnest money. See Wis. Admin. Code Ch. RL 18. 13 ■Unit THE BALANCE OFCommon PURCHASE PRICE will be paid in cash or WB-11 equivalent at closing unless otherwise provided 481 and any Limited Elements advance notice, ifthe necessary to satisfy the contingencies in this Offer. Buyerbelow. and licensees The WB-13 Vacant Land Offer toupon Purchase and Residential Offer to Purchase are similar in 476 INSPECTIONS AND TESTING Buyer may only conduct inspections or tests if specific contingencies are included as a part of this Offer. 14 ■may INCLUDED IN PURCHASE PRICE: Seller is including in the purchase price the Property, all Fixtures on the Property on specific the 482 be present at all inspections and testing. 

    % "       " length, format, structure, and content but the WB-13 addresses those aspects of a transaction 477 # $       !     testing, 15 date oftothis Offertesting. not excluded at lines 18-19, and the following additional items: ___________________________________ 483 Buyer conduct other than testing for leaking carbon monoxide, or testing fordevelopment leaking LP gas orconcerns, natural gas used a fuel source, which are hereby to478 vacant such as government programs, andasthe zoning. covers 16 __________________________________________________________________________________________________ ____ 484 NOTE: land Any contingency authorizing testing should specify the areas of the Unit to be tested, purposeThis of thechapter test, (e.g., to 479 "#$            e Unit and the the aspects of the vacant land offer that differ from the residential offer. The WB-13 does not have a 485 determine if environmental contamination is present), any limitations on Buyer's testing and any other material terms of____ the 17 __________________________________________________________________________________________________ 480 laboratory or other analysis of these materials.   !%      

 486 contingency. !   !  

    

  !%     

 18 ■ NOT INCLUDED IN PURCHASE PRICE: ________________________________________________________________ closing of buyer’s property contingency. 481 Unit and any Limited Common Elements upon advance notice, if necessary to satisfy the contingencies in this Offer. Buyer and licensees 487 unless otherwise agreed to with Seller. Buyer agrees to promptly provide copies of all inspection and testing reports to Seller.__Seller 19 ________________________________________________________________________________________________ ___. 482 may be present at all inspections and testing.      % "       " Lines 22-24Identify General Provisions 488 acknowledges that certain inspections or tests mayProperty detect environmental pollution which be required to be reported to the 20 CAUTION: Fixtures that are on the (see lines 290-294) to bemay excluded by Seller or which areWisconsin rented 483 Buyer to conduct testing. 489 Department of Natural Resources. 21 and will continue to be owned by the lessor. 484 NOTE: Any contingency authorizing testing should specify the areas of the Unit to be tested, the purpose of the test, (e.g., to 22 NOTE: The terms of this Offer, not the listing contract or marketing materials, determine what items are 485 determine if environmental contamination is present), any limitations on Buyer's testing and any other material terms of the 23 included/excluded. Annual crops are not part of the purchase price unless otherwise agreed. 486 contingency. !   !          !%       24 ■ ZONING: Seller represents that the Property is zoned: _________________________________________________ ______. 487 unless otherwise agreed to with Seller. Buyer agrees to promptly provide copies of all inspection and testing reports to Seller. Seller 25 ACCEPTANCE Acceptance occurs when all Buyers and Sellers have signed one copy of the Offer, or separate but identical 488 acknowledges that certain inspections or tests may detect environmental pollution which may be required to be reported to the Wisconsin 26 copies of theofOffer. 489 Department Natural Resources. 27 CAUTION: Deadlines in the Offer are commonly calculated from acceptance. Consider whether short term deadlines 159 28 running from acceptance provide adequate time for both binding acceptance and performance. 29 BINDING ACCEPTANCE This Offer is binding upon both Parties only if a copy of the accepted Offer is delivered to Buyer on 30 or before _______________________________________________________________. Seller may keep the Property on the 415 416

WB-13 VACANT LAND OFFER TO PURCHASE

REAL ESTATE SALES

The note at lines 22-23 addresses items included and not included in the purchase price of vacant land and Property informs a buyer that annual crops are not included in the purchase price unless the parties agree Address: ________________________________________________________________________________________________________Page 2 of 10, WB-13 to include them. The definition of fixtures includes garden bulbs, plants, shrubs, and trees. This note 59 OCCUPANCY Occupancy of the entire Property shall be given to Buyer at time of closing unless otherwise provided in this clarifies that annual crops are not fixtures and the purchase price does not include crops unless the 60 Offer at lines 458-464 or 526-534 or in an addendum attached per line 525. At time of Buyer's occupancy, Property shall be parties negotiate thispersonal separately. 61 free of all debris and property except for personal property belonging to current tenants, or that sold to Buyer or left 62

with Buyer's consent. Occupancy shall be given subject to tenant's rights, if any.

63 PROPERTY CONDITION REPRESENTATIONS Seller represents to Buyer that as of the date of acceptance Seller has no by Line 24 addresses zoning and a buyer indicates the property’s zoning classification as represented 64 notice or knowledge of Conditions Affecting the Property or Transaction (see lines 163-187 and 246-278) other than those the seller.

identified in the Seller's disclosure report dated ________________________________, which was received by Buyer prior to Buyer signing this Offer and which is made a part of this Offer by reference COMPLETE DATE OR STRIKE AS APPLICABLE Lines 59-62 Occupancy Property Address: ________________________________________________________________________________________________________Page 2 of 10, WB-13 67 and ________________________________________________________________________________________________ 68 _____________________________________________________________________________________________________ 59 OCCUPANCY Occupancy of the entire Property shall be given to Buyer at time of closing unless otherwise provided in this 69 _______________________________ INSERT CONDITIONS NOT ALREADY INCLUDED IN THE DISCLOSURE REPORT 60 Offer at lines 458-464 or 526-534 or in an addendum attached per line 525. At time of Buyer's occupancy, Property shall be 70 CLOSING This transaction is to be closed no later than ______________________________________________________ 61 free of all debris and personal property except for personal property belonging to current tenants, or that sold to Buyer or left 71 _________________________________at the place selected by Seller, unless otherwise agreed by the Parties in writing. 62 with Buyer's consent. Occupancy shall be given subject to tenant's rights, if any. 72 CLOSING PRORATIONS The following items, if applicable, shall be prorated at closing, based upon date of closing values: 63 PROPERTY CONDITION REPRESENTATIONS Seller represents to Buyer that as of the date of acceptance Seller has no 73 real estate taxes, rents, prepaid insurance (if assumed), private and municipal charges, property owners association 64 or knowledge of _________________________________________________________________________________. Conditions Affecting PropertyResidential or TransactionOffer (see lines 163-187 246-278)must other be than thoseof all 74 notice assessments, fuel and The occupancy section is similar to thetheWB-11 in that theand property Property Address: ________________________________________________________________________________________________________Page 2 of 10,free WB-13 65 in Provide the Seller's disclosure report dated fuel ________________________________, which was received Buyer prior to 75 identified CAUTION: basis for utility charges, or other prorations if date of closing value will not be by used. debris and personal property but, the vacant land offer, for obvious reasons, does not require the seller 66 signingtaxes this Offer and which is made of this Offer by reference COMPLETE ORprior STRIKE AS APPLICABLE 76 Buyer Any income, or expenses shall accrueatopart Seller, and be prorated at closing, throughDATE the day to closing. 59 OCCUPANCY Occupancy of the entire Property shall be given to Buyer at time of closing unless otherwise provided in this to 67 leave the property swept and ________________________________________________________________________________________________ 77 Real estate taxes shall in be broom prorated at closingcondition. based on [CHECK BOX FOR APPLICABLE PRORATION FORMULA]: 60 Offer at lines 458-464 or 526-534 or in an addendum attached per line 525. At time of Buyer's occupancy, Property shall be 78 ________________________________________________________________________________________________ The net general real estate taxes for the preceding year, or the current year if available (Net general real estate 68 _____ 61 free of all debris and personal property except for personal property belonging to current tenants, or that sold to Buyer or left Lines 63-69 Property Condition Representations 79 _______________________________ taxes are defined as general property taxes after state tax credits and lotteryINCLUDED credits are deducted) (NOTE: THIS CHOICE 69 INSERT CONDITIONS NOT ALREADY IN THE DISCLOSURE REPORT 62 with Buyer's consent. Occupancy shall be given subject to tenant's rights, if any. 80 CLOSING APPLIES IF NO BOX IS CHECKED) 70 This transaction is to be closed no later than ______________________________________________________ 63 PROPERTY CONDITION REPRESENTATIONS Seller represents to Buyer that as of the date of acceptance Seller has no 81 _________________________________at Current assessment times current the millplace rate (current as ofunless the date of closing) 71 selectedmeans by Seller, otherwise agreed by the Parties in writing. 64 notice or knowledge of Conditions Affecting the Property or Transaction (see lines 163-187 and 246-278) other than those 82 CLOSINGSale price, multiplied the municipality area-wideshall percent of fair market valuebased used upon by thedate assessor in the prior 72 PRORATIONS The by following items, if applicable, be prorated at closing, of closing values: 65 in the Seller's disclosure report dated ________________________________, whichofwas received by Buyer prior to 73 real year, estate taxes, rents, prepaidmultiplied insurance assumed), and municipal charges, property owners association 83 identified or current year if known, by (if current mill rateprivate (current means as of the date closing) 66 signing this and which is made a part of this Offer by reference COMPLETE DATE OR STRIKE AS APPLICABLE 74 assessments, fuel Offer and _________________________________________________________________________________. 84 Buyer ____________________________________________________________________________________________. 67 ________________________________________________________________________________________________ 75 CAUTION: Provide for utility other prorations if date not be used. 85 and Buyer isbasis informed that charges, the actualfuel realorestate taxes for the yearofofclosing closingvalue and will subsequent years may be 76 Any income, taxes or expenses shall accrue used to Seller, be prorated at closing, through the day prior to closing. 68 _____ 86 ________________________________________________________________________________________________ substantially different than the amount for and proration especially in transactions involving new construction, 77 Real estaterehabilitation, taxes shall be prorated at closing based onre-assessment. [CHECKNOT BOXALREADY FOR APPLICABLE PRORATION FORMULA]: 87 _______________________________ extensive remodeling or area-wide Buyer isINCLUDED encouraged contact the localREPORT assessor 69 INSERT CONDITIONS IN to THE DISCLOSURE 88 regarding possible tax changes. 78 nettransaction general real estate taxes no forlater the preceding year, or the current year if available (Net general real estate 70 CLOSINGThe This is to be closed than ______________________________________________________ 89 _________________________________at Buyer and Seller agreeproperty to re-prorate the real estate taxes, through theotherwise day prior todeducted) closing based upon taxes on 79 taxes are defined as general taxes after state tax credits andunless lottery credits are (NOTE: THIS 71 the place selected by Seller, agreed by the Parties inthe writing. This section is tax almost identical to thewith corresponding section inhis the WB-11 except that it CHOICE refers to a 90 CLOSING the actual billBOX for the yearfollowing of closing, and Seller each owing at or her pro-rata share. Buyer shall, within 80 APPLIES IF NO ISThe CHECKED) 72 PRORATIONS items, if Buyer applicable, shall be prorated closing, based upon date of closing values:5 “Seller’s disclosure report” rather than a real estate condition report. Both a condition report and a 91 real days of receipt, forwardprepaid a copy of the billmill to(ifrate the forwarding address agrees to provideproperty at closing. The Parties shall 73 estate taxes,assessment rents, assumed), private municipal charges, owners association 81 Current timesinsurance current (current means asand ofSeller the date of closing) 74 assessments, fuel and _________________________________________________________________________________. disclosure report serve the same purpose and provide a buyer with a seller’s declaration of conditions 92 re-prorate within 30 days of Buyer’s receipt of the actual tax bill. Buyer and Seller agree this is a post-closing obligation 82 Sale price, multiplied by the municipality area-wide percent of fair market value used by the assessor in the prior 75 Provide basis for charges, or other prorations if date of real closing value will in notthis betransaction. used. 93 CAUTION: and isorthe responsibility of utility the Parties to complete, not responsibility of the estate brokers 83 year, current year if known, multiplied byfuel current millthe rate (current means as of the date of closing) affecting the property or transaction. 76 income, taxes or expenses shallisaccrue to Seller, prorated at closing, through the Seller day prior to assign closing.Seller's rights 94 Any LEASED PROPERTY If Property currently leasedand andbe lease(s) extend beyond closing, shall 84 ____________________________________________________________________________________________. 77 taxes shall betransfer prorated atthe closing based [CHECK BOX FOR APPLICABLE FORMULA]: 85 CAUTION: isand informed that actual realonestate taxes for the thereunder year of closing andatsubsequent be 95 Real underestate said Buyer lease(s) all security deposits and prepaid rents to PRORATION Buyer closing. Theyears termsmay of the Lines 98-110 Programs 78 TheGovernment net general real estate for year, or the current year if available (Net new general real estate 86 different than the amount forpreceding proration especially in transactions involving construction, 96 substantially (written) (oral) STRIKE ONE lease(s), iftaxes any,used are the _________________________________________________________ ______ 79 taxes are defined as general property after ifstate credits and lottery credits are deducted) (NOTE: THIS CHOICE 87 rehabilitation, remodeling ortaxes area-wide re-assessment. Buyer encouraged toas contact the local 97 extensive _______________________. Insert additional terms, any,tax at lines 458-464 or is 526-534 or attach an addendum perassessor line 525. 88 possible taxPROGRAMS: changes. 80 APPLIES IF NO BOX IS CHECKED) 98 regarding GOVERNMENT Seller shall deliver to Buyer, within ________days of acceptance of this Offer, a list of all 89 Buyer and Seller agree to re-prorate the real estate taxes, as through the day prior to closing based upon the taxes on 81 Current assessment times current millfarmland, rate (current means of date of closing) 99 federal, state, county, and local conservation, environmental, orthe other land use programs, agreements, restrictions, 90 or conservation the actual bill multiplied for the year closing, and Seller each his or value her pro-rata share. Buyer shall, within 82 Sale tax price, byofthe municipality area-wide percent of owing fair market used by theagreements, assessor in the prior5 100 easements, which apply towith anyBuyer part of the Property (e.g., farmland preservation farmland 91 preservation days of receipt, forward a copymultiplied of zoning, the billbyto thevalue forwarding addressForest Seller Crop, agrees todate provide at closing. The Parties shall 83 year, or current year if agricultural known, current mill rate (current means as of the of Forest, closing) 101 or exclusive use assessments, Managed Conservation Reserve 92 Program, re-prorate withinmitigation, 30 days ofshoreland Buyer’s receipt the actualplan tax bill. and Seller agree this is awith post-closing obligation 84 ____________________________________________________________________________________________. 102 wetland zoningofmitigation or Buyer comparable programs), along disclosure of any 93 CAUTION: and is the responsibility of the Parties to complete, not thetaxes responsibility of theofreal estateand brokers in thiscontingency transaction. 85 Buyer is informed that the actual real estate for the year closing subsequent years may 103 penalties, fees, withdrawal charges, or payback obligations pending, or currently deferred, if any. This will be be 86 different the amount used for proration in transactions involving new 94 substantially LEASEDsatisfied PROPERTY Property is currently leased and lease(s) extend beyond closing, Seller assign Seller's rights 104 deemed unlessIfthan Buyer delivers to Seller, within seven (7) especially days of Buyer’s Actual Receipt of shall said list andconstruction, disclosure, or 87 remodeling area-wide re-assessment. Buyer is encouraged tothe contact theThe local assessor 105 the deadline for delivery, whichever isorearlier, a notice thisthereunder Offer based use restrictions, program 95 extensive under said rehabilitation, lease(s) and transfer all security deposits andterminating prepaid rents to upon Buyer at closing. terms of the 88 possible tax changes. 106 requirements, and/or amount of any penalty, charge, or payback obligation. 96 regarding (written) (oral) STRIKE ONE lease(s), if any, fee, are _________________________________________________________ ______ 89 CAUTION: Buyer and does Sellernot agree to additional re-prorate the real estate taxes, through day Buyer prior towill closing the taxes on 107 If Buyer terminate this Offer, Buyer is lines hereby agreeing that continue inupon suchper programs, 97 _______________________. Insert terms, if any, at 458-464 orthe 526-534 or attach as anbased addendum line 525. 90 as may the actual tax bill for the year of closing, with Buyer and Seller each owing his or her pro-rata share. Buyer shall, within 5 108 apply, and Buyer agrees to reimburse Seller should Buyer fail to continue any such program such that Seller 98 GOVERNMENT PROGRAMS: Seller shall deliver to Buyer, within ________days of acceptance of this Offer, a list of all 109 incurs any penalties, that are imposed because the program is notatcontinued after sale.shall The 91 days of costs, receipt, forward a damages, copy of theor billfees to the forwarding address Seller agrees to provide closing. The Parties 99 federal, state, county, and local conservation, farmland, environmental, or other land use programs, agreements, restrictions, 110 Parties agree within this provision survives closing. 92 or re-prorate 30 days which of Buyer’s receipt of the bill. Buyer andfarmland Seller agree this is a post-closing 100 conservation easements, apply to any partactual of thetaxProperty (e.g., preservation agreements, obligation farmland 111 MANAGED FORESTagricultural LAND: All, ortopart, of the Property is managed forest land under brokers the Managed LawReserve (MFL). 93 preservation and is theorresponsibility of the Parties complete, notassessments, the responsibility of the real estate in Conservation this Forest transaction. 101 exclusive zoning, use value Forest Crop, Managed Forest, 112 This designation will continue after closing. Buyer is advised as follows: The MFL is a landowner incentive program that 94 LEASED PROPERTY If Property is currently leased and lease(s) extend beyond closing, Seller shall assign Seller's The WB-13 Vacant Land Offer to Purchase includes Programs Arights buyer 102 Program, wetland mitigation, shoreland zoning mitigation plan aorGovernment comparable programs), alongcontingency. with disclosure of any 113 encourages sustainable forestry on private woodlands by reducing and deferring property taxes. Orders designating lands as 95 under said lease(s) and transfer all security deposits and prepaid rents thereunder to Buyer at closing. The terms of the 103 penalties, fees, withdrawal charges, or payback obligations pending, or currently deferred, if any. This contingency will beto can make an offer contingent on the seller providing a list of all government programs that apply 114 managed forest lands remain in effect for 25 or 50 years. When ownership of land enrolled in the MFL program changes, the 104 deemed (oral) satisfied unlessONE Buyer deliversif to Seller, within seven (7) days of Buyer’s Actual Receipt of said list and disclosure, or 96 (written) STRIKE lease(s), any, are _________________________________________________________ ______ any of the property. The contingency provides aonlist of programs that might affect vacant land 115 part new deadline owner must sign and file a report of change of ownership a form provided by the Department of Natural Resources 105 the for delivery, whichever is the earlier, a notice this Offer based upon the use restrictions, program 97 _______________________. Insert additional terms, if any, terminating at lines 458-464 or 526-534 or attach as an addendum per line 525. 116 and pay a fee.and/or By filing this form, thepenalty, new owner to the associated MFL management plan andvalue the MFLassessments. program rules. including farmland preservation agreements, wetland mitigation plans,ofand use 106 amount of any fee, agrees charge, payback obligation. 98 requirements, GOVERNMENT PROGRAMS: Seller shall deliver toorBuyer, within ________days acceptance of this Offer, a list of all 117 The DNR Division of Forestry monitors forest management plan compliance. Changes you make to property that is subject to 107 CAUTION: If Buyer does not terminate this Offer, Buyer is hereby agreeing that Buyer will continue in such programs, 99 federal, state,exhaustive county, and local farmland, environmental, or other landprograms use programs, restrictions, The listorder is not andconservation, a forest sellerland, must include all jeopardize government onagreements, a list provided to the 118 as an may designating it as managed or to itsshould use, may your benefits under program or that may Seller cause 108 apply, and Buyer agrees toapply reimburse Seller Buyer fail to continue any such the program such 100 or conservation easements, which to any part of the Property (e.g., farmland preservation agreements, farmland buyer before the deadline the buyer indicates on line 98. The deadline runs from a seller’s accep119 the property to be withdrawn from the program and may result in the assessment of penalties. For more information call the 109 preservation incurs any costs, penalties, damages, or fees areassessments, imposed because program is not continued after sale. The 101 or exclusive agricultural zoning, usethat value Forest the Crop, Managed Forest, Conservation Reserve 120 Parties local DNR forester or visit http://www.dnr.state.wi.us. 110 agree this provision survives closing. 102 Program, wetland mitigation, shoreland zoning mitigation plan or comparable programs), along with disclosure of any 111 penalties, MANAGED FOREST charges, LAND: All, part, ofobligations the Property is managed forest land under the Managed Forest Law will (MFL). 103 fees, withdrawal or or payback pending, or currently deferred, if any. This contingency be 112 deemed This designation will continue after closing. Buyer is advised follows: The MFL is Receipt a landowner program that 104 satisfied unless Buyer delivers to Seller, within seven (7)asdays of Buyer’s Actual of saidincentive list and disclosure, or 160 113 the encourages forestry on private woodlands by reducing andthis deferring taxes. designating program lands as 105 deadlinesustainable for delivery, whichever is earlier, a notice terminating Offer property based upon theOrders use restrictions, 114 requirements, managed forest landsamount remainof in any effect for 25fee, or 50 years.orWhen ownership of land enrolled in the MFL program changes, the 106 and/or penalty, charge, payback obligation. 115 CAUTION: new owner must signdoes and file report of the ownership on aagreeing form provided by the will Department Resources 107 If Buyer notaterminate thischange Offer, of Buyer is hereby that Buyer continueofinNatural such programs, 65 66

Any income, taxes or expenses shall accrue to Seller, and be prorated at closing, through the day prior to closing. Real estate taxes shall be prorated at closing based on [CHECK BOX FOR APPLICABLE PRORATION FORMULA]: 78 The net general real estate taxes for the preceding year, or the current year if available (Net general real estate 79 taxes are defined as general property taxes after state tax credits and lottery credits are deducted)Offers (NOTE:to THIS CHOICE - 10 Purchase 80 APPLIES IF NO BOX IS CHECKED) 81 Current assessment times current mill rate (current means as of the date of closing) 82 Sale price, multiplied by the municipality area-wide percent of fair market value used by the assessor in the prior 83 year, or current year if known, multiplied by current mill rate (current means as of the date of closing) tance of the____________________________________________________________________________________________. offer. After actually receiving the list from the seller, the buyer then has 7 days to termi84 nate the offerBuyer based on any that of the programs thatyear affect the property. If theyears seller 85 CAUTION: is informed the government actual real estate taxes for the of closing and subsequent maydoes be substantially thanbuyer the amount for proration especially involving not86provide the different list to the by theused buyer’s deadline listed in ontransactions line 98, the buyer new hasconstruction, 7 days from 87 extensive rehabilitation, remodeling or area-wide re-assessment. Buyer is encouraged to contact the local assessor that deadline to deliver to the seller a notice terminating the offer. 88 regarding possible tax changes. 89 Buyer and Seller agree re-prorate reallines estate107-110 taxes, through the day prior closing based taxes ondoes There is a cautionary note totothe buyertheon informing theto buyer that upon if thethebuyer 90 the actual tax bill for the year of closing, with Buyer and Seller each owing his or her pro-rata share. Buyer shall, within 5 not91terminate the offer based upon the seller’s list of government programs affecting the property, the days of receipt, forward a copy of the bill to the forwarding address Seller agrees to provide at closing. The Parties shall buyer is agreeing that willreceipt continue participate in those programs. note also obligates 92 re-prorate within 30 the daysbuyer of Buyer’s of the to actual tax bill. Buyer and Seller agree this isThe a post-closing obligation and to is the responsibility of the Parties complete, not the responsibility of the real estate brokers in this the93 buyer reimburse the seller forto any costs, penalties, damages, or fees that thetransaction. seller incurs if a 94 LEASED PROPERTY If Property is currently leased and lease(s) beyond closing, assign Seller'sprograms rights buyer chooses to withdraw from one of the programs inextend the future. Many Seller of theshall government 95 under said lease(s) and transfer all security deposits and prepaid rents thereunder to Buyer at closing. The terms of the that might affect a vacant property offer tax benefits to owners and require the property’s owner to 96 (written) (oral) STRIKE ONE lease(s), if any, are _________________________________________________________ ______ enroll the property for a set term. If a buyer later removes the property from the government program, 97 _______________________. Insert additional terms, if any, at lines 458-464 or 526-534 or attach as an addendum per line 525. the98 seller,GOVERNMENT as the original party to theshall agreement withwithin the ________days governmentof program might incur PROGRAMS: Seller deliver to Buyer, acceptance of this Offer, a listpenalties of all 99 federal, state, county, and local conservation, farmland, environmental, or other land use programs, agreements, restrictions, or fines because the buyer removed the property from the program before the time agreed to in the 100 or conservation easements, which apply to any part of the Property (e.g., farmland preservation agreements, farmland original enrollment agreement. Buyers and sellers with questions regarding enrollment or disenroll101 preservation or exclusive agricultural zoning, use value assessments, Forest Crop, Managed Forest, Conservation Reserve ment from any of the government should consult the agency overseeing program or an 102 Program, wetland mitigation, shorelandprograms zoning mitigation plan or comparable programs), along with the disclosure of any 103 penalties, fees, withdrawal charges, obligations pending, or currently deferred, programs if any. This contingency be attorney. Licensees do not haveortopayback be experts in any of the government that mightwillaffect a 104 deemed satisfied unless Buyer delivers to Seller, within seven (7) days of Buyer’s Actual Receipt of said list and disclosure, or vacant land transaction and should refer sellers and buyers to other sources for advice or information 105 the deadline for delivery, whichever is earlier, a notice terminating this Offer based upon the use restrictions, program on106the programs. requirements, and/or amount of any penalty, fee, charge, or payback obligation. 107 CAUTION: If Buyer does not terminate this Offer, Buyer is hereby agreeing that Buyer will continue in such programs, 108 as may apply, and Buyer agrees to reimburse Seller should Buyer fail to continue any such program such that Seller Lines 111-120 Managed Forest Land 109 incurs any costs, penalties, damages, or fees that are imposed because the program is not continued after sale. The 110 Parties agree this provision survives closing. 111 MANAGED FOREST LAND: All, or part, of the Property is managed forest land under the Managed Forest Law (MFL). 112 This designation will continue after closing. Buyer is advised as follows: The MFL is a landowner incentive program that 113 encourages sustainable forestry on private woodlands by reducing and deferring property taxes. Orders designating lands as 114 managed forest lands remain in effect for 25 or 50 years. When ownership of land enrolled in the MFL program changes, the 115 new owner must sign and file a report of the change of ownership on a form provided by the Department of Natural Resources 116 and pay a fee. By filing this form, the new owner agrees to the associated MFL management plan and the MFL program rules. 117 The DNR Division of Forestry monitors forest management plan compliance. Changes you make to property that is subject to 118 an order designating it as managed forest land, or to its use, may jeopardize your benefits under the program or may cause 119 the property to be withdrawn from the program and may result in the assessment of penalties. For more information call the 120 local DNR forester or visit http://www.dnr.state.wi.us. 76 77

The Managed Forest Land contingency provides a buyer the opportunity to acknowledge that all or part of the property is managed forest land under the Managed Forest Law. A buyer who includes this provision also acknowledges that enrollment in the program continues after closing and orders designated land as managed forest land remain in effect for 25 or 50 years. When a property owner enrolls land as managed forest land under the Managed Forest Law, it is a long term commitment by the property owner to manage the forest with the goal of encouraging sustainable management of private woodlands. In exchange, the seller receives a reduction and deferral of property taxes. When a buyer purchases land under an order of the Managed Forest Law, the new property owner agrees to the management plan and rules. This provision also tells the buyer to consult the local Department of Natural Resources (DNR) forester or the DNR’s website for more information.

161

REAL ESTATE SALES

Lines 121-145 Fences, Use Value Assessments, Farmland Preservation, Conservation Reserve Program, and Shoreland Zoning Ordinances

Page 3 of 10, WB-13

FENCES: Wis. Stat. § 90.03 requires the owners of adjoining properties to keep and maintain legal fences in equal shares where one or both of the properties is used and occupied for farming or grazing purposes. CAUTION: Consider an agreement addressing responsibility for fences if Property or adjoining land is used and Page 5 of 10, WB-13 124 occupied for farming or grazing purposes. 125 USE VALUE ASSESSMENTS: The use value assessment system values agricultural land based on the income that would be 245 generated DEFINITIONS FROM PAGE 126 fromCONTINUED its rental for agricultural use3 rather than its fair market value. When a person converts agricultural land to a 246 non-agricultural n. Defects in any septicresidential system ororother sanitarydevelopment), disposal system on the may Property out-of-service septic systems not 127 use (e.g., commercial that person owe aorconversion charge. To obtain more 247 information closed/abandoned according regulations. 128 about the use value to lawapplicable or conversion charge, contact the Wisconsin Department of Revenue's Equalization 248 Section o. Subsoil conditions which would significantly increase the cost of development including, but not limited to, subsurface 129 or visit http://www.revenue.wi.gov/. 249 FARMLAND foundations or waste material; organicaor non-organic dumpsites where pesticides, or other toxic 130 PRESERVATION: Rezoning property zonedfill; farmland preservation to anotherherbicides, use or the fertilizer early termination of a 250 farmland or hazardous materials or containers forofthese materials disposedcan of in violation of manufacturer's or fee government 131 preservation agreement or removal land from such were an agreement trigger payment of a conversion equal to 251 guidelines or other laws regulating said disposal; high groundwater; adverse soil conditions (e.g. low load bearing 132 3 times the class 1 “use value” of the land. Contact the Wisconsin Department of Agriculture, Trade and Consumer Protection 252 capacity, earth or soil movement, slides) or excessive rocks or rock formations. 133 Division of Agricultural Resource Management or visit http://www.datcp.state.wi.us/ for more information. 253 p. Brownfields (abandoned, idled or under-used land which may be subject to environmental contamination) or other 134 CONSERVATION RESERVE PROGRAM (CRP): The CRP encourages farmers, through contracts with the U.S. Department 254 contaminated land, or soils contamination remediated under PECFA, the Department of Natural Resources (DNR) 135 of Agriculture, to stop growing crops on highly erodible or environmentally sensitive land and instead to plant a protective 255 Remediation and Redevelopment Program, the Agricultural Chemical Cleanup Program or other similar program. 136 cover of grass or trees. CRP contracts run for 10 to 15 years, and owners receive an annual rent plus one-half of the cost of 256 q. Lack of legal vehicular access to the Property from public roads. 137 establishing permanent ground cover. Removing lands from the CRP in breach of a contract can be quite costly. For more 257 r. Homeowners' associations, common areas shared or co-owned with others, zoning violations or nonconforming uses, 138 information call the state Farm Service Agency office or visit http://www.fsa.usda.gov/. 258 conservation easements, restrictive covenants, rights-of-way, easements, easement maintenance agreements, or use of 139 ZONING ORDINANCES: counties must adopt shoreland zoning ordinances that meet or are more 259 SHORELAND a part of Property by non-owners, otherAllthan recorded utility easements. 140 Wis. district, Admin. such Codeas Chapter NR 115. County shoreland zoning ordinances to all landto 260 restrictive s. Specialthan purpose a drainage district, lake district, sanitary district or sewerapply district, thatunincorporated has the authority 141 1,000 assessments feet of a navigable lake, or flowage or within 300 of a navigable river or stream and establish minimum 261 within impose against the pond real property located within thefeet district. 142 forstate building setbacks and requiring height limits, cutting trees or and shrubs, lot sizes, water runoff, impervious surface 262 standards t. Federal, or local regulations repairs, alterations corrections of an existing condition. 143 (that be exceeded a mitigation planincreases; is adopted) and repairs to nonconforming Buyers of must 263 standards u. Property taxmay increases, other only thanif normal annual completed or pending property structures. tax reassessment the 144 to anyorexisting mitigation plans. For more information call the county zoning office or visit http://www.dnr.state.wi.us/. 264 conform Property, proposed or pending special assessments. 145 is advised to check with artifacts, the applicable city, townorchards or villageor forendangered additional shoreland 265 Buyer v. Burial sites, archeological mineral rights, species. zoning restrictions, if any. 266 w. Flooding, standing water, drainage problemsWithin or other waterprior problems on orataffecting the Property. 146 BUYER’S PRE-CLOSING WALK-THROUGH 3 days to closing, a reasonable time pre-approved by Seller or 267 Seller's x. Material damage from have fire, wind, floods, earthquake, soils, erosion orthat landslides. 147 agent, Buyer shall the right to walk through expansive the Property to determine there has been no significant change This of odor, the WB-13 is except an information section forand buyers purchasing vacant section 268 in y.section Significant noise, water intrusion other irritants emanating from neighboring property. 148 the condition of the Property, fororordinary wear and tear changes approved by Buyer, andland. that anyThe defects 269 z. Substantial crop damage from disease, insects, soil contamination, wildlife or other causes; diseased trees; or substantial 149 Seller has agreed to cure have been repaired in the manner agreed to by the Parties. provides information on a property owner’s responsibility for maintaining fences on property used for 270 PROPERTY injuries orDAMAGE disease inBETWEEN livestock onACCEPTANCE the Property or neighboring properties. shall maintain the Property until the earlier of 150 AND CLOSING farming and grazing andmanure information on programs mostSeller likely to affect vacant land. The list is not 271 closing aa. Existing or abandoned storage facilities oncondition the Property. 151 or occupancy of Buyer in materially the same as of the date of acceptance of this Offer, except for ordinary 272 bb. Impact fees, or other conditions or occurrences that would significantly increase development costs oraffect reduce the value of comprehensive and buyers should thoroughly investigate any programs that might the purchase. 152 wear and tear. If, prior to closing, the Property is damaged in an amount of not more than five percent (5%) of the selling price, 273 theshall Property to a reasonable person with knowledge ofit the nature and scope ofthat theiscondition or occurrence. 153 Seller be obligated to repairoverviews the Property and restore to the same condition was on the dayfor of this Offer. No laterneed The section provides basic of the programs and includes resources buyers who 274 cc. The Property is subject to a mitigation plan required by DNR rules related to county shoreland zoning ordinances that 154 than closing, Seller shall provide Buyer with lien waivers for all lienable repairs and restoration. If the damage shall exceed 275 obligates the owner to establish maintain certain measures to shoreland enforceable by the county more information. Licensees doornot need to know therelated details of theseconditions, programs and can refer buyers 155 such sum, Seller shall promptly notify Buyer in writing of the damage and this Offer may be canceled at option of Buyer. 276 (see lines 139-145). and sellers with additional questions to the resources included in this section or to an attorney. 156 Should Buyer elect to carry out this Offer despite such damage, Buyer shall be entitled to the insurance proceeds, if any, 277 dd. All or part of the land has been assessed as agricultural land, the owner has been assessed a use-value conversion 157 relating to the damage to the Property, plus a credit towards the purchase price equal to the amount of Seller’s deductible on 278 charge or the payment of a use-value conversion charge has been deferred. 158 such policy, if any. However, if this sale is financed by a land contract or a mortgage to Seller, any insurance proceeds shall 279 ■ DEADLINES: “Deadlines” expressed as aDefinitions number of “days” from an event, such as acceptance, are calculated by excluding Lines 160-187 245-296 159 be held in trust and for theLines sole purpose of restoring the Property. 280 the day the event occurred and by counting subsequent calendar days. The deadline expires at midnight on the last day. 160 DEFINITIONS The WB-13 Definitions section is on pages 3 and 5. The definitions of some terms are different from 281 ■ Deadlines a specific number of that “business days” exclude Saturdays, any legalhas public under 161 ACTUALexpressed RECEIPT: as Receipt” means a Party, not the Party’s recipient Sundays, for delivery, if any, the holiday or the in the“Actual residential and condominium offers toof reflect of document anot vacant 282 definitions Wisconsin or physically Federal law, and any other day designated the President such thatcharacteristics the postal service does receive land 162 written notice in the Party’s possession, regardlessby of the method delivery. transaction. TheorAFFECTING definition fordeliveries conditions affecting the property includes additional conditions 283 ■ registered mail make regular on that day. Deadlines expressed as a specific number of “hours” fromsuch the as 163 CONDITIONS THE PROPERTY OR TRANSACTION: “Conditions Affecting the Property or Transaction” are 284 defined occurrence of due an event, such as receipt of a notice, calculatedisfrom exact time ofdistrict, the event,the and presence by counting 24 164 to include: contamination to fertilizer, whether theare property in the a drainage ofhours manure 165 Proposed,day. planned or commenced improvements or public construction may result in such special 285 a. per calendar Deadlines expressed public as a specific day of the calendar asprojects the daywhich of a specific event, as storage facilities, and whether a party holds mineral rights onyear theorproperty. 166 assessments or otherwise materially 286 closing, expire at midnight of that day. affect the Property or the present use of the Property. 167 b. Government agency or court order requiring repair, alteration or correction of any existing condition. 287 ■ DEFECT: “Defect” means a condition that would have a significant adverse effect on the value of the Property; that would 168 c. 290-294 Land division or subdivision for which required state or local approvals were not obtained. Lines Fixtures 288 significantly impair the health or safety of future occupants of the Property; or that if not repaired, removed or replaced would 169 d. A portion of the Property in a floodplain, wetland or shoreland zoning area under local, state or federal regulations. 289 e. significantly adversely affect the expected normal life premises. 170 A portionshorten of the or Property being subject to, or in violation of, of a the farmland preservation agreement or in a certified farmland 290 ■ FIXTURE: A “Fixture” is an item property whichorisenrolled physically attached to orof,soa closely associated withForest land so as lines to be 171 preservation zoning district (seeoflines 130-133), in, or in violation Forest Crop, Managed (see 291 treated as partConservation of the real estate, including, without limitation, physically program. attached items not easily removable without damage 172 111-120), Reserve (see lines 134-138), or comparable 173 Boundary or items lot disputes, encroachments or encumbrances, a jointcustomarily driveway ortreated violation fence including, laws (Wis.but Stat. 90) 292 f. to the premises, specifically adapted to the premises, and items as of fixtures, notch. limited 174 (where one orcrops; both of the properties is used and occupied farming or grazing). 293 to, all: perennial garden bulbs; plants; shrubs and treesforand fences; storage buildings on permanent foundations and 175 g. Material violations of environmental rules or other rules or agreements regulating the use of the Property. 294 docks/piers on permanent foundations. 176 h. Conditions constituting a significant health risk or safety hazard for occupants of the Property. 295 CAUTION: Exclude any Fixtures to be retained by Seller or which are rented on lines 18-19. 177 i. Underground storage tanks presently or previously on the Property for storage of flammable or combustible liquids, 296 ■ PROPERTY: Unless otherwise stated, means thedoes real estate lines 4-7. The definition fixtures is lines“Property” 290-294 not described include atimprovements on the land or items 178 including,for but not limited to, on gasoline and heating oil.and 179 j. A Defect or contamination caused by unsafe concentrations of, or unsafe conditions relating to, pesticides, herbicides, 297 PROPERTY DEVELOPMENT WARNING If Buyer contemplates developing Property for a use other than use, like window shades, lighting fixtures, and other household fixtures, which would not bethe a current consideration 180 fertilizer, radon, radium in water supplies, lead or arsenic in soil, or other potentially hazardous or toxic substances on the 298 there are a variety of issues which should be addressed to ensure the development or new use is feasible. Municipal and in181 a vacant land transaction. The definition also adds perennial crops to the list of vegetation that is premises. 299 zoning ordinances, recorded building and use restrictions, covenants and easements may prohibit certain improvements or 182 k. Production of methamphetamine (meth) or other hazardous or toxic substances onare the Property. part of the definition of fixture. Annual crops are not fixtures notControl part of the purchase price 300 l. usesHigh andvoltage therefore should beKV reviewed. Building permits, variances,and Architectural Committee approvals, 183 electric (100 or greater) or steel naturalzoning gas transmission lines located on but not directly serving the unless the parties negotiate a different arrangement. 301 estimates for utility hook-up expenses, special assessments, changes for installation of roads or utilities, environmental audits, 184 Property. 302 m. subsoil tests,inorany other related fees maydue need to be obtained or verified in order to determine the feasibility 185 Defects well,development including unsafe well water to contaminants such as coliform, nitrates and atrazine, and out-of-of 186 service wells and cisterns required abandoned (Wis.contingencies Admin. Code which § NR 812.26) but that are not closed/abandoned 303 development of, or a particular use for,toabe property. Optional allow Buyer to investigate certain of these 187 according applicable 304 issues can be to found at linesregulations. 306-350 and Buyer may add contingencies as needed in addenda (see line 525). Buyer should 188 (Definitions Continued on page 5) 305 review any plans for development or use changes to determine what issues should be addressed in these contingencies. 121 122 123

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significantly impair the health or safety of future occupants of the Property; or that if not repaired, removed or replaced would significantly shorten or adversely affect the expected normal life of the premises. 290 ■ FIXTURE: A “Fixture” is an item of property which is physically attached to or so closely associated with land so as to be 291 treated as part of the real estate, including, without limitation, physically attached items not easily removable damage - 10 Offerswithout to Purchase 292 to the premises, items specifically adapted to the premises, and items customarily treated as fixtures, including, but not limited 293 to, all: perennial crops; garden bulbs; plants; shrubs and trees and fences; storage buildings on permanent foundations and 294 docks/piers on permanent foundations. 295 CAUTION: Exclude any Fixtures to be retained by Seller or which are rented on lines 18-19. Lines 297-305 Property Development Warning 296 ■ PROPERTY: Unless otherwise stated, “Property” means the real estate described at lines 4-7. 288 289

297 298 299 300 301 302 303 304 305

PROPERTY DEVELOPMENT WARNING If Buyer contemplates developing Property for a use other than the current use, there are a variety of issues which should be addressed to ensure the development or new use is feasible. Municipal and zoning ordinances, recorded building and use restrictions, covenants and easements may prohibit certain improvements or uses and therefore should be reviewed. Building permits, zoning variances, Architectural Control Committee approvals, estimates for utility hook-up expenses, special assessments, changes for installation of roads or utilities, environmental audits, subsoil tests, or other development related fees may need to be obtained or verified in order to determine the feasibility of development of, or a particular use for, a property. Optional contingencies which allow Buyer to investigate certain of these issues can be found at lines 306-350 and Buyer may add contingencies as needed in addenda (see line 525). Buyer should review any plans for development or use changes to determine what issues should be addressed in these contingencies.

The WB-13 includes a property development warning for buyers who are intending to develop the vacant land. The warning cautions buyers who are intending to change the current use of the property. Buyers should consider building permits, zoning variances, assessments, environmental concerns, and other issues before making an offer on a vacant property that the buyer intends to develop. The warning also cautions buyers to include additional contingencies as addenda if needed to address questions related to development. Property Address: ________________________________________________________________________________________________________Page 6 of 10, WB-13 Lines 306-350 Proposed Use Contingencies 306 307 308 309 310 311 312 313 314 315 316 317 318 319 320 321 322 323 324 325 326 327 328 329 330 331 332 333 334 335 336 337 338 339 340 341 342 343 344 345 346 347 348 349 350 351 352 353 354 355 356 357 358

PROPOSED USE CONTINGENCIES: Buyer is purchasing the Property for the purpose of: _______________________ __________________________________________________________________________________________________ ____ __________________________________________________________________________________________________ ____ [insert proposed use and type and size of building, if applicable; e.g. three bedroom single family home]. The optional provisions checked on lines 314-345 shall be deemed satisfied unless Buyer, within ______ days of acceptance, delivers written notice to Seller specifying those items which cannot be satisfied and written evidence substantiating why each specific item included in Buyer’s notice cannot be satisfied. Upon delivery of Buyer’s notice, this Offer shall be null and void. Seller agrees to cooperate with Buyer as necessary to satisfy the contingencies checked at lines 314-350. ZONING CLASSIFICATION CONFIRMATION: This Offer is contingent upon Buyer obtaining, at (Buyer’s) (Seller’s) STRIKE ONE (“Buyer’s” if neither is stricken) expense, verification that the Property is zoned ______________________ ________________________ and that the Property’s zoning allows the Buyer’s proposed use described at lines 306-308. SUBSOILS: This offer is contingent upon Buyer obtaining, at (Buyer’s) (Seller’s) STRIKE ONE (“Buyer’s” if neither is stricken) expense, written evidence from a qualified soils expert that the Property is free of any subsoil condition which would make the proposed use described at lines 306-308 impossible or significantly increase the costs of such development. PRIVATE ONSITE WASTEWATER TREATMENT SYSTEM (POWTS) SUITABILITY: This Offer is contingent upon Buyer obtaining, at (Buyer’s) (Seller’s) STRIKE ONE (“Buyer’s” if neither is stricken) expense, written evidence from a certified soils tester that (a) the soils at the Property locations selected by Buyer, and (b) all other conditions that must be approved, meet the legal requirements in effect on the date of this Offer to obtain a permit for a POWTS for use of the Property as stated on lines 306-308. The POWTS (septic system) allowed by the written evidence must be one of the following POWTS that is approved by the State for use with the type of property identified at lines 306-308 CHECK ALL THAT APPLY:  conventional in-ground;  mound;  at grade;  in-ground pressure distribution;  holding tank;  other: ___________________________________________________________________________________________. EASEMENTS AND RESTRICTIONS: This Offer is contingent upon Buyer obtaining, at (Buyer's) (Seller's) STRIKE ONE (“Buyer’s” if neither is stricken) expense, copies of all public and private easements, covenants and restrictions affecting the Property and a written determination by a qualified independent third party that none of these prohibit or significantly delay or increase the costs of the proposed use or development identified at lines 306-308. APPROVALS: This Offer is contingent upon Buyer obtaining, at (Buyer's) (Seller's) STRIKE ONE (“Buyer’s” if neither is stricken) expense, permits, approvals and licenses, as appropriate, or the final discretionary action by the granting authority prior to the issuance of such permits, approvals and licenses, for the following items related to Buyer’s proposed use: _____________________________________________________________________________________ __________________________________________________________________________________________________. UTILITIES: This Offer is contingent upon Buyer obtaining, at (Buyer's) (Seller's) STRIKE ONE (“Buyer’s” if neither is stricken) expense, written verification of the following utility connections at the listed locations (e.g., on the Property, at the lot line, across the street, etc.) CHECK AND COMPLETE AS APPLICABLE:  electricity________________________;  gas ____________________________;  sewer_____________________;  water___________________________;  telephone_______________________;  cable _______________________;  other__________________________. ACCESS TO PROPERTY: This Offer is contingent upon Buyer obtaining, at (Buyer's) (Seller's) STRIKE ONE (“Buyer’s” if neither is stricken) expense, written verification that there is legal vehicular access to the Property from public roads. LAND USE APPROVAL: This Offer is contingent upon Buyer obtaining, at (Buyer’s) (Seller’s) STRIKE ONE (“Buyer’s” if neither is stricken) expense, a  rezoning;  conditional use permit;  license;  variance;  building permit;  occupancy permit;  other ___________________________________________ CHECK ALL THAT APPLY, and delivering written notice to Seller if the item cannot be obtained, all within ______ days of acceptance for the Property for its proposed use described at lines 306-308. MAP OF THE PROPERTY: This Offer is contingent upon (Buyer obtaining) (Seller providing) STRIKE ONE (“Seller providing” if neither is stricken) a Map of the Property dated subsequent to the date of acceptance of this Offer prepared by a registered land surveyor, within _____ days of acceptance, at (Buyer's) (Seller's) STRIKE ONE (“Seller’s” if neither is stricken) expense. The map shall show minimum of __________ acres, maximum of __________ acres, the legal description of the Property, the Property's boundaries and dimensions, visible encroachments upon the Property, the location of improvements, if any, and: ___________________________________________________________________________________________ [STRIKE AND COMPLETE AS APPLICABLE] Additional map features which may be added include, but are not limited to: staking of all corners of the Property; identifying dedicated and apparent streets; lot dimensions; total acreage or square

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REAL ESTATE SALES

The proposed use contingency is an umbrella contingency with several sub-contingencies that a buyer uses to customize the proposed use contingency to address the details of the buyer’s proposed use for the property. A buyer can include as many of the sub-contingencies as apply to the buyer’s proposed use. If a buyer wants to make the offer contingent on the proposed use, the buyer marks the open box on line 306 and indicates the proposed use on lines 306-308. A buyer satisfies this contingency unless the buyer delivers a notice to the seller by the deadline included on line 310 indicating which portions of the contingency the buyer cannot satisfy with written evidence substantiating why the buyer cannot satisfy the item. If a buyer delivers a notice with written evidence by the deadline on line 310, the offer is null and void. All of the sub-contingencies permit a buyer to assign responsibility for the costs associated with completing the conditions of the sub-contingency. If a buyer does not affirmatively assign responsibility for the costs by striking either buyer or seller from the choice, the buyer is responsible. The first sub-contingency permits a buyer to confirm that the property has the correct zoning classification for the buyer’s proposed use stated on lines 306-308. The second sub-contingency permits a buyer to test subsoil for any condition that would prevent the buyer’s proposed use. Next, a buyer can include a sub-contingency to determine whether the buyer will be able to obtain a permit for a private onsite wastewater treatment system (POWTS) that the state has approved for a property used for the buyer’s proposed use listed at lines 306-308. A buyer wants to develop vacant land into a 30-lot campground. The buyer includes the proposed use contingency and states “30-lot campground” at lines 306-308. The buyer includes the POWTS Suitability contingency in the offer. The buyer hires a soil tester. To satisfy the contingency, the written evidence from the soil tester must show that the buyer will be able to obtain a permit for a POWTS that the state has approved for use in a 30-lot campground. A buyer can make the offer contingent on obtaining copies of easements and restrictions affecting the property and receiving a third-party determination that the easements and restriction in place will not prevent the buyer’s proposed use. A buyer can also make the offer contingent on receiving permission by permits, licenses, approvals, or other required documents demonstrating that the body that must approve the buyer’s proposed use has approved it. A buyer would use this sub-contingency if the buyer needed to seek building permits or other permissive documents before proceeding with the proposed use listed at lines 306-308. If a buyer needs to seek verification of utility connections, the buyer can include the utilities sub-contingency at lines 338-342 and a buyer can make an offer contingent on verifying that there is legal vehicular access to a property from public roads by including the access to property sub-contingency on lines 343-345. The last sub-contingency under the proposed use contingency permits a buyer to seek land use approval for the proposed use. Land use approval might include a local zoning department rezoning the property, issuing a conditional use permit, license, variance, a building or occupancy permit, or some other item necessary for the buyer’s proposed use. The land use approval sub-contingency is part of the proposed use contingency even though it is set at the left margin and the other sub-contingencies are indented under the proposed use contingency in the WB-13. This sub-contingency is deliberately set apart from the others because it has a deadline that is different from the deadline provided for satisfying the proposed use contingency at line 310. The land use approval sub-contingency has a separate deadline because it can take a buyer longer to satisfy the terms of this sub-contingency than it will to satisfy the others under the proposed use umbrella.

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 telephone_______________________;  cable _______________________;  other__________________________. ACCESS TO PROPERTY: This Offer is contingent upon Buyer obtaining, at (Buyer's) (Seller's) STRIKE ONE 344 (“Buyer’s” if neither is stricken) expense, written verification that there is legal vehicular access to the Property from public Offers to Purchase - 10 345 roads. 346 LAND USE APPROVAL: This Offer is contingent upon Buyer obtaining, at (Buyer’s) (Seller’s) STRIKE ONE (“Buyer’s” if 347 neither is stricken) expense, a  rezoning;  conditional use permit;  license;  variance;  building permit;  348 occupancy permit;  other ___________________________________________ CHECK ALL THAT APPLY, and delivering Lines 351-364 the 349 written notice toMap Seller of if the itemProperty cannot be obtained, all within ______ days of acceptance for the Property for its proposed 350 use described at lines 306-308. Property Address: ________________________________________________________________________________________________________Page 8 of 10, WB-13 351 MAP OF THE PROPERTY: This Offer is contingent upon (Buyer obtaining) (Seller providing) STRIKE ONE (“Seller 352 if neither isOFFER: stricken) This a Map of the Property dated subsequent to offer. the date of Offer acceptance of this Offer prepared by a 405 providing” SECONDARY Offer is secondary to a prior accepted This shall become primary upon delivery 353 land surveyor, _____ days of acceptance, (Buyer's)provided, (Seller's)Seller STRIKE ONE (“Seller’s” if neither is notice stricken) 406 registered of written notice to Buyerwithin that this Offer is primary. Unless at otherwise is not obligated to give Buyer prior 354 The map show minimum of __________ acres,the maximum of __________ acres, theoflegal the 407 expense. to any deadline, norshall is any particular secondary buyer given right to be made primary ahead otherdescription secondaryofbuyers. 355 thedeclare Property's boundaries andvoid dimensions, visible encroachments upon the to Property, the location of improvements, 408 Property, Buyer may this Offer null and by delivering written notice of withdrawal Seller prior to delivery of Seller's notice 356 any, and: ___________________________________________________________________________________________ 409 if that this Offer is primary. Buyer may not deliver notice of withdrawal earlier than _____ days after acceptance of this Offer. All 357 AND COMPLETE Additional features which may be becomes added include, but are not limited to: 410 [STRIKE other Offer deadlines which AS are APPLICABLE] run from acceptance shallmap run from the time this Offer primary. 358 all corners of the Property; dedicated apparent streets; dimensions;(2) total acreage or square(3) 411 staking TIME ISof OF THE ESSENCE “Time isidentifying of the Essence” asand to: (1) earnest moneylotpayment(s); binding acceptance; 359 easements CAUTION: Deadlines Consider the cost AS andAPPLICABLE the need for map features before selecting them. 412 footage; occupancy; (4) dateor ofrights-of-way. closing; (5) contingency STRIKE and all other dates and Deadlines in this 360 the time required to obtain the map when setting the deadline. This contingency shall be deemed satisfied 413 Also Offer consider except: __________________________________________________________________________________ ________. 361 five daysapplies of the to earlier of: or (1)Deadline, Buyer's receipt map; or deadline for Deadline delivery ofis said map, of 414 unless If “TimeBuyer, is of within the Essence” a date failureoftothe perform by (2) thethe exact date or a breach 362 the map does and anot written which significant encroachment; (2) information 415 delivers contract.toIf Seller “Time ais copy of theofEssence” applynotice to a date or identifies: Deadline, (1) thenthe performance within a reasonable time of the 363 inconsistent with prior representations; or (3) failure to meet requirements stated within this contingency. 416 materially date or Deadline is allowed before a breach occurs. 364 of Buyer’s notice, this Offer shall be null and void. 417 Upon TITLEdelivery EVIDENCE 418 ■ CONVEYANCE OF TITLE: Upon payment of the purchase price, Seller shall convey the Property by warranty deed (or trustee’s deed ifaSeller is a land trust, personal representative’s deed if Seller an estate or other conveyance A 419 buyer can make vacant offer contingent on receipt of a ismap of the property. Theasbuyer 420 provided herein), free and clear of all liens and encumbrances, except: municipal and zoning ordinances and agreements chooses either to hire a surveyor to create a map or let the seller provide a surveyor-created map 421 entered under them, recorded easements for the distribution of utility and municipal services, recorded building and use dated after the date of the offer. The buyer can specify what the map must show for the property to be 422 restrictions and covenants, present uses of the Property in violation of the foregoing disclosed in Seller’s disclosure report and acceptable to general the buyer, suchin as minimum maximum acres, property dimensions, encroachments, 423 in this Offer, taxes levied the year of closingorand _____________________________________________________ and the location of improvements. Lines 359-360 caution a buyer to consider the costs of__the 424 ________________________________________________________________________________________________ ____ map 425 ________________________________________________________________________________________________ __ and the time set for deadlines. Additional features on a map will add to the cost and length of ____ time the 426 ________________________________________________________________________________________________ ____ surveyor needs to complete the map. Buyers specify the components of the property that the__surveyor 427 which constitutes merchantable title for purposes of this transaction. Seller shall complete and execute the documents map must include and the buyer satisfies this contingency unless the buyer provides a copy of the map 428 necessary to record the conveyance at Seller’s cost and pay the Wisconsin Real Estate Transfer Fee. to429the seller with written notice inconsistent ■ TITLE EVIDENCE: Seller shall give identifying evidence of titlea insignificant the form of anencroachment, owner's policy of titleinformation insurance in the amount of the with 430 purchase price on a current ALTA form issued by an insurer licensed to write title insurance in Wisconsin. Seller pay all prior representations, or that the map fails to show property requirements stated in theshall contingency. 431 costs of providing title evidence to Buyer. Buyer shall pay all costs of providing title evidence required by Buyer’s lender. The buyer must deliver the notice to the seller five days from the earlier of the buyer’s actual receipt 432 ■ GAP ENDORSEMENT: Seller shall provide a “gap” endorsement or equivalent gap coverage at (Seller’s) (Buyer’s) STRIKE of433 the map or theif buyer’s deadline line 353. If a delivers a notice, is nullafter andthevoid. ONE (“Seller’s” neither stricken) cost toon provide coverage forbuyer any liens or encumbrances firstthe filedoffer or recorded 434 effective date of the title insurance commitment and before the deed is recorded, subject to the title insurance policy 435 exclusions andProvision exceptions, provided the title companyTitle will issue the endorsement. If a gap endorsement or equivalent gap Lines 437-441 of Merchantable 436 coverage is not available, Buyer may give written notice that title is not acceptable for closing (see lines 442-449). 437 ■ PROVISION OF MERCHANTABLE TITLE: For purposes of closing, title evidence shall be acceptable if the required title 438 insurance commitment is delivered to Buyer's attorney or Buyer not more than _____ days after acceptance (“15” if left blank), 439 showing title to the Property as of a date no more than 15 days before delivery of such title evidence to be merchantable per 440 lines 418-427, subject only to liens which will be paid out of the proceeds of closing and standard title insurance requirements 441 and exceptions, as appropriate. 442 ■ TITLE NOT ACCEPTABLE FOR CLOSING: If title is not acceptable for closing, Buyer shall notify Seller in writing of 443 objections to title within _____days (“15” if left blank) after delivery of the title commitment to Buyer or Buyer’s attorney. In Unlike the WB-11, buyers using the vacant land offer to purchase choose a deadline for providing mer444 such event, Seller shall have a reasonable time, but not exceeding _____ days (“5” if left blank) from Buyer’s delivery of the chantable title. The residential offer states that the seller must provide evidence of merchantable title 445 notice stating title objections, to deliver notice to Buyer stating Seller’s election to remove the objections by the time set for to446 the buyer less that than fiveisbusiness days said before closing. a blank closing. In not the event Seller unable to remove objections, BuyerThe may vacant deliver toland Selleroffer writtenprovides notice waiving the on 447 objections, and the time for closing shall be extended accordingly. If Buyer does not waive the objections, Buyer shall deliver line 438 for a buyer to insert a deadline after acceptance of the offer by which the seller must provide 448 written notice of termination and this Offer shall be null and void. Providing title evidence acceptable for closing does not merchantable title. If a buyer leaves this line blank, the default deadline is 15 days after acceptance. 449 extinguish Seller’s obligations to give merchantable title to Buyer. 450 ■ SPECIAL ASSESSMENTS: Special assessments, if any, levied or for work actually commenced prior to the date of this 451 Offer shall be paid by Seller no later than closing. All other special assessments shall be paid by Buyer. 452 CAUTION: Consider a special agreement if area assessments, property owners association assessments, special 453 charges for current services under Wis. Stat. § 66.0627 or other expenses are contemplated. "Other expenses" are 454 one-time charges or ongoing use fees for public improvements (other than those resulting in special assessments) 455 relating to curb, gutter, street, sidewalk, municipal water, sanitary and storm water and storm sewer (including all 456 sewer mains and hook-up/connection and interceptor charges), parks, street lighting and street trees, and impact 457 fees for other public facilities, as defined in Wis. Stat. § 66.0617(1)(f). 458 ADDITIONAL PROVISIONS/CONTINGENCIES ________________________________________________________ _______ 459 _________________________________________________________________________________________________ _____ 460 _________________________________________________________________________________________________ _____ 461 _________________________________________________________________________________________________ _____ 462 _________________________________________________________________________________________________ _____ 463 _________________________________________________________________________________________________ _____ 464 _________________________________________________________________________________________________ _____ 342 343

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ONE (“Seller’s” if neither stricken) cost to provide coverage for any liens or encumbrances first filed or recorded after the effective date of the title insurance commitment and before the deed is recorded, subject to the title insurance policy 435 exclusions and exceptions, provided the title company will issue the endorsement. If a gap endorsement or equivalent gap REAL ESTATE SALES 436 coverage is not available, Buyer may give written notice that title is not acceptable for closing (see lines 442-449). 437 ■ PROVISION OF MERCHANTABLE TITLE: For purposes of closing, title evidence shall be acceptable if the required title 438 insurance commitment is delivered to Buyer's attorney or Buyer not more than _____ days after acceptance (“15” if left blank), 439 showing title to the Property as of a date no more than 15 days before delivery of such title evidence to be merchantable per 440 lines 418-427, subject only toAcceptable liens which will be out of the proceeds of closing and standard title insurance requirements Lines 442-449 Title Not forpaid Closing 441 and exceptions, as appropriate. 442 ■ TITLE NOT ACCEPTABLE FOR CLOSING: If title is not acceptable for closing, Buyer shall notify Seller in writing of 443 objections to title within _____days (“15” if left blank) after delivery of the title commitment to Buyer or Buyer’s attorney. In 444 such event, Seller shall have a reasonable time, but not exceeding _____ days (“5” if left blank) from Buyer’s delivery of the 445 notice stating title objections, to deliver notice to Buyer stating Seller’s election to remove the objections by the time set for 446 closing. In the event that Seller is unable to remove said objections, Buyer may deliver to Seller written notice waiving the 447 objections, and the time for closing shall be extended accordingly. If Buyer does not waive the objections, Buyer shall deliver 448 written notice of termination and this Offer shall be null and void. Providing title evidence acceptable for closing does not 449 extinguish Seller’s obligations to give merchantable title to Buyer. 450 ■ SPECIAL ASSESSMENTS: Special assessments, if any, levied or for work actually commenced prior to the date of this The vacant offer permits a than buyer to set the special deadline for when buyer will provide notice that the 451 Offer shallland be paid by Seller no later closing. All other assessments shallthe be paid by Buyer. 452 CAUTION: Consider a special agreement if area assessments, property owners association assessments, title is not acceptable for closing. In a residential transaction, a buyer must notify the sellerspecial in writing 453 charges for current services under Wis. Stat. § 66.0627 or other expenses are contemplated. "Other expenses" are of objections to the title by the time set for closing and a seller has 15 days to remove the objections. 454 one-time charges or ongoing use fees for public improvements (other than those resulting in special assessments) In455 a relating vacanttoland buyersidewalk, states amunicipal deadline on line 443and bystorm which a buyer will sewer provide objections to curb,offer, gutter,a street, water, sanitary water and storm (including all title to the seller. The deadline runs from the seller’s delivery of the title commitment to the buyer or the 456 sewer mains and hook-up/connection and interceptor charges), parks, street lighting and street trees, and impact 457 fees attorney. for other public as defined in Wis. Stat. §that 66.0617(1)(f). buyer’s If afacilities, buyer does deliver notice the title is not acceptable for closing, the seller then 458 ADDITIONAL PROVISIONS/CONTINGENCIES ________________________________________________________ has until the deadline the buyer included on line 444 to remove objections. If a buyer does ___ not____ include 459 _________________________________________________________________________________________________ _____ a 460 deadline on line 444, the seller has 5 days from the buyer’s notice that the title is not acceptable _________________________________________________________________________________________________ _____ for closing to deliver a notice to the buyer that the seller is electing to remove the objections by the time __ 461 _______________________________________________________________________________________________ _____ 462 _______________________________________________________________________________________________ _____ __ set for closing. If the seller cannot remove the objections, the buyer can either waive the objections or 463 _________________________________________________________________________________________________ _____ deliver a notice terminating the offer. 464 _________________________________________________________________________________________________ _____ 433 434

Lines 503-524 Inspection Contingency

Property Address: _______________________________________________________________________________________________________Page 10 of 10, WB-13

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INSPECTION CONTINGENCY: This contingency only authorizes inspections, not testing (see lines 488-502). This Offer is contingent upon a qualified independent inspector(s) conducting an inspection(s), of the Property which discloses no Defects. This Offer is further contingent upon a qualified independent inspector or independent qualified third party performing an inspection of _______________________________________________________________________________________ (list any Property feature(s) to be separately inspected, e.g., dumpsite, etc.) which discloses no Defects. Buyer shall order the inspection(s) and be responsible for all costs of inspection(s). Buyer may have follow-up inspections recommended in a written report resulting from an authorized inspection performed provided they occur prior to the deadline specified at line 513. Inspection(s) shall be performed by a qualified independent inspector or independent qualified third party. CAUTION: Buyer should provide sufficient time for the primary inspection and/or any specialized inspection(s), as well as any follow-up inspection(s). This contingency shall be deemed satisfied unless Buyer, within ______ days of acceptance, delivers to Seller a copy of the written inspection report(s) and a written notice listing the Defect(s) identified in those report(s) to which Buyer objects (Notice of Defects). CAUTION: A proposed amendment is not a Notice of Defects and will not satisfy this notice requirement. For the purposes of this contingency, Defects (see lines 287-289) do not include conditions the nature and extent of which the Buyer had actual knowledge or written notice before signing this Offer. ■ RIGHT TO CURE: Seller (shall)(shall not) STRIKE ONE (“shall” if neither is stricken) have a right to cure the Defects. If Seller has the right to cure, Seller may satisfy this contingency by: (1) delivering written notice to Buyer within 10 days of Buyer's delivery of the Notice of Defects stating Seller’s election to cure Defects; (2) curing the Defects in a good and workmanlike manner; and (3) delivering to Buyer a written report detailing the work done within 3 days prior to closing. This Offer shall be null and void if Buyer makes timely delivery of the Notice of Defects and written inspection report(s) and: (1) Seller does not have a right to cure or (2) Seller has a right to cure but: (a) Seller delivers written notice that Seller will not cure or (b) Seller does not timely deliver the written notice of election to cure.

525

ADDENDA: The attached ___________________________________________________is/are made part of this Offer.

531

534

____________________________________________________________________________________________________ ____________________________________________________________________________________________________ ____________________________________________________________________________________________________ ____________________________________________________________________________________________________

535

This Offer was drafted by [Licensee and Firm] _______________________________________________________________

536

_____________________________________________________________ on ______________________________ _______.

166 538

537

(x) ___________________________________________________________________________________________________ Buyer’s Signature▲ Print Name Here► Date▲

539

(x) ___________________________________________________________________________________________________

503 504 505 506 507 508 509 510 511 512 513 514 515 516 517 518 519 520 521 522 523

The vacant land offer inspection contingency differs slightly from the residential inspection contingency. 526 ADDITIONAL PROVISIONS/CONTINGENCIES _________________________________________________________ _____ The vacant land offer does not provide for a home inspection by a Wisconsin registered home inspec527 ____________________________________________________________________________________________________ tor528but provides for an inspection by a qualified independent inspector to inspect the property. Buyers ____________________________________________________________________________________________________ 529 ____________________________________________________________________________________________________ can also include specific property features, such as a dump site, for separate inspection using this 530 ____________________________________________________________________________________________________ inspection contingency. 532 533