short_loi.rb

short_loi.rb

string = <<-eos

LETTER OF INTENT

#{Time.now.month} #{Time.now.day}, #{Time.now.year}


#{recipient_first_name+” “+recipient_last_name}
#{recipient_name_pt2}
#{recipient_address}

RE:	LOI
	
Dear Mr. #{recipient_last_name}:

The following is our proposal with respect to the above referenced property.  This proposal is not a binding agreement, but rather an expression of our mutual interest to enter into a contract of sale.  

Seller:					#{recipient_first_name+’ ‘+recipient_last_name}, #{recipient_name_pt2}

Purchaser:				Douglas Development, LLC, or assigns

Property:				+/- #{acreage1}, PIN #{pin1} & #{acreage2}, PIN #{pin2}

Purchase Price:			        $#{price_per_acre}/acre

Closing Date:				November 1, 2015

Inspection Period:				60 Days

Nonrefundable Inspection Period Fee**: $5000

Extension A:      until July 1, 2015

Extension A Nonrefundable Earnest Money**:		$5,000

Extension B:      until December 1, 2015 

Extension B Nonrefundable Earnest Money**:    $10,000


Sincerely,



David D. Douglas



Accepted and agreed to this 9th day of February 2013.


Seller:

By:	_____________________________________________

Name:	_____________________________________________

Title:	_____________________________________________

Date:   _____________________________________________


Buyer:

By:	_____________________________________________

Name:	_____________________________________________

Title:	_____________________________________________

Date:   _____________________________________________

** - Applicable to Purchase Price, by accepting money before inspection periods or extensions, Seller promises not to sell or place under contract
said property for the duration of that period.

eos