Contract as to possessionóClosing delayed.

Agreement made this _________[date] between _________ of _________, seller, and _________ of _________, purchaser.

Recitals: By a contract in writing between the parties bearing date of _________, seller agreed to sell, and purchaser agreed to purchase, a parcel of land with buildings described in the contract. Some delay is likely to occur in consummating such sale, and purchaser is desirous of taking immediate possession of the premises.

Therefore, seller agrees to, on [date] deliver up to purchaser the full possession of the premises as if the conveyance of it had been executed. Purchaser shall be at liberty to make, in a proper and substantial manner, all such alterations in and additions to the buildings as purchaser shall require, but subject, in all respects, to the approbation of seller, and so that the value of the premises shall not be impaired. It is agreed that such taking of possession shall not be deemed a waiver of the contract of sale, or in any manner affect the rights of the parties under it; that such taking of possession shall not be deemed an acceptance of the title to the premises; but that the same shall be considered as taken conditionally upon, and without prejudice to, the due performance of the contract in all respects.

In witness of which, etc.

 

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