Bruno Land Group, LLC — Purchase Terms of Use

Bruno Land Group | brunolandgroup.com

Overview

These Purchase Terms of Use govern all land purchases made through Bruno Land Group, LLC (“Seller”). By signing a Purchase Contract, the Buyer agrees to be bound by the following terms. All sales are final.

1. Property

The property being purchased is identified by its Parcel Number(s) and Legal Description(s) as attached in Exhibit “A” of your signed contract. The property is sold as-is, where-is, and with all faults — no warranties, representations, or guarantees are made by Seller regarding the condition of the property. Buyer releases Seller from all liability for any damage or defects.

2. Purchase Price & Payment Options

Bruno Land Group offers two purchase options:

A. Cash Purchase

A down payment is due within 2 days of signing the agreement.
The remaining balance is due on the Closing Date via cashier’s check, wire transfer, certified funds, or money order.

B. Terms (Installment) Purchase

A down payment is due within 2 days of signing the agreement.
The remaining balance is financed at an agreed interest rate, amortized over an agreed number of months, with equal monthly installments of principal and interest.
Note: The final payment may constitute a Balloon Payment, meaning it could be significantly larger than regular monthly installments.

3. Fees

One-Time Processing Fee — due upon execution of the agreement (Cash) or upon full performance (Terms).
Monthly Servicing Fee (Terms only) — an additional fee added to each monthly installment. All service fees are non-refundable.

4. Property Taxes

Taxes for the current year are prorated over 12 months.
Under a Cash Contract, Seller pays the prorated amount to the County Treasurer within 14 days of Buyer’s full performance.
Under a Terms Contract, Buyer pays monthly property taxes to Seller as part of the monthly installment, and Seller remits payment to the County Treasurer.
Buyer is responsible for all property taxes assessed after the deed transfer date.

5. Possession & Use

Cash Contract: Buyer receives full possession upon complete payment of the purchase price.
Terms Contract: Buyer receives full possession immediately upon signing, subject to termination if Buyer defaults.

In both cases, Seller retains legal title until all obligations are fully performed by Buyer.

6. Closing & Deed Delivery

Upon full payment of the purchase price and all applicable fees, Seller will execute and deliver a Special Warranty Deedto the Buyer, conveying title free of all liens and encumbrances. The deed will be submitted for recording within 30 daysof final payment, and delivered to Buyer within 7 days of receipt of the recorded deed (via email or U.S. Mail).

For Cash purchases, closing must occur by the agreed Closing Date — failure to close by this date results in automatic termination of the agreement, and Seller retains all earnest money as liquidated damages.

7. Closing Costs & Transfer Taxes

Buyer is responsible for all closing costs, including but not limited to: realty transfer taxes, title policy fees, survey costs, escrow or closing fees, and any lender-required fees, unless expressly assumed by Seller.

8. Monthly Payment Breakdown (Terms Only)

The total monthly payment consists of principal & interest, monthly servicing fee, prorated property taxes, and any applicable HOA fees. Property taxes and HOA fees are subject to change, which may adjust the total monthly payment and/or the number of payments required.

9. Late Payments & NSF Fees (Terms Only)

A $10 late fee applies to any payment not received within 5 days of the due date.
A $25 NSF fee applies to any returned or declined payment.
Payments are applied in the following order: late fees → service fees → accrued interest → principal.

10. Prepayment (Terms Only)

Buyer may fully or partially prepay at any time without penalty. Partial prepayments are applied first to amounts currently due (fees, interest, late charges), then to principal. Partial prepayment does not change the regular monthly installment amount or due date.

11. Default & Remedies (Terms Only)

If Buyer defaults on any obligation and fails to cure the default within 30 days of written notice, Seller may:

Declare all remaining amounts immediately due and payable; or
Terminate the agreement and declare Buyer’s interest in the property forfeited.

Upon termination due to default, all payments made and improvements to the property are forfeited to Seller as liquidated damages. Buyer must immediately surrender possession of the property.

12. Insurance Requirements (Terms Only)

From the date of signing until the purchase price is fully paid, Buyer must maintain at Buyer’s expense:

General Liability coverage of at least $1,000,000 per occurrence / $2,000,000 aggregate; or
Umbrella insurance through a homeowner’s or renter’s policy with equivalent limits.

Seller must be named as an additional insured. If Buyer cannot obtain such insurance, a written waiver may be requested from Seller.

13. Property Maintenance & Compliance (Terms Only)

Buyer agrees to:

Maintain the property in good condition and repair.
Not commit waste or allow liens to accrue against the property.
Comply with all applicable laws, codes, and regulations.

Code violation notices may result in administrative fees of $250 per notice, plus additional costs if Seller must travel to verify compliance ($500/travel day). Unresolved code violations constitute an event of default.

14. Assignment

Seller may freely transfer or assign its interest in the agreement.
Buyer may not transfer or assign any interest in the property or agreement without Seller’s prior written consent, which may be withheld at Seller’s sole discretion.

15. Limited Power of Attorney

By signing the Purchase Contract, Buyer grants Seller a non-revocable Limited Power of Attorney (coupled with an interest) solely for the purpose of executing deeds, transfer statements, affidavits, and any other documents required by government bodies to complete the transfer of title to Buyer.

16. Liability

Seller is not responsible for injuries or damages occurring on or about the property after the agreement date. Buyer agrees to hold harmless, defend, and indemnify Seller from all related claims, losses, and legal costs.

17. General Provisions

Amendments must be in writing and signed by both parties.
This Agreement is not to be recorded with the County Recorder.
No brokers — no real estate commissions are due unless explicitly stated.
Attorney’s Fees — the breaching party pays all legal costs incurred by the non-breaching party.
Entire Agreement — this contract supersedes all prior discussions or agreements regarding the property.
Severability — if any provision is found unenforceable, the rest of the agreement remains in full effect.
Jurisdiction:
- Cash Contract: State of Idaho
- Terms Contract: State of Colorado (Boulder County)

This document is a summary of the Bruno Land Group, LLC Standard Purchase Contract. The full, legally binding contract governs all transactions. Buyers are encouraged to review the complete contract with independent legal counsel prior to signing.