Deer Creek Subdivision – Lot Reservation & Purchase Terms and Conditions – OConnor Street Properties, LLC (OSP) www.oconnorstreet.com

By reserving and purchasing a pre-finished Lot within the Deer Creek Subdivision through our online order platform, the Buyer agrees to the following terms and conditions governing the transaction:
1. Reservation and first Deposit:
Upon submission of an online Lot reservation through www.oconnorstreet.com, the Buyer agrees to pay a deposit equal to 5% of the Lot purchase price. The Deposit can be made through our online payment system via credit card, or manually via certified Cashiers Check or ACH Wire Transfer to OSP’s Wells Fargo Bank or the funds must be delivered to the Title Co. by the Buyer within 48 Hrs. of the online Order Date to:

Title Company of the Rockies
Kari Arneson
karneson@titlecorockies.com
Senior Escrow Officer
970-625-5426 O 844-269-2759 F
111 East Third Street/Suite 101, Rifle CO 81650
(-Satellite Office- Downtown Grand Junction )

The 5% deposit must be received within 48 hours of the online Order date in order to secure the selected pre-finished Lot within the Deer Creek subdivision. Failure to provide the deposit within this time frame may result in the cancellation of the reservation and release of the Lot back into Builder-Offering inventory.

2. Due Diligence / Feasibility Periods:
– The Buyer is entitled to two (2) feasibility periods;, the first feasibility period, a (7)-day (one week) due diligence period (beginning from the online order date) to review all relevant project documentation, which is available after downloading & signing our NDA Agreement that is posted on OSP’s website including, but not limited to:
– Subdivision Civil Plans
– Plat Maps
– Engineering reports
– Soils and geotechnical studies
– Any other materials reasonably necessary to evaluate feasibility of the project.

* During the Buyer’s first Seven (7)-day feasibility period, (beginning from the online order date) the Buyer may cancel their reservation for any reason by written notice, in which case any deposits previously submitted will be returned to Buyer in full.

* During the Buyer’s second Fifteen (15)-day feasibility period, (beginning from the online order date) the Balance of the Lot Purchase Price is due and payable to OSP per the following Final Payment terms below.

3. Final Payment of Purchase Price Balance and Opening of Escrow:
If the Buyer wishes to proceed with the Lot purchase following the first (7)-day due diligence and feasibility period, the following must occur:
– The balance of the purchase price must be deposited by a certified Cashiers Check or ACH Wire transfer with OSP’s Wells Fargo Bank or deposited with the Title Company of the Rockies within the second Fifteen (15)-days from the online order date (including the first (7)-Day feasibility period).
– A fully executed and ratified Purchase Agreement between the Buyer an OConnor Street Properties (OSP) must be delivered to OSP and the Title Company within the first Seven (7)- Day feasibility period. (OSP’s Legal Council has drafted a standard Purchase Agreement and can assist Buyer with completing and ratifying the Purchase Agreement for submission to OSP in order to open Escrow with the Title Company).
– Upon receipt of both, Buyer’s Deposit and Balance of the Purchase Price is due within the final Fifteen (15)-Day Lot Purchase period from the online order date, Escrow will officially open with the Title Company of the Rockies. Failure to complete these steps within the final Fifteen (15)-day feasibility period may result in forfeiture of the reserved Lot and cancellation of the Buyer’s transaction.

4. Developer Lot Sales Threshold Requirement:
This purchase offering is subject to meeting the minimum pre-finished Lot sales threshold, to be established by OConnor Street Properties. Tentatively, a minimum of 13–14 pre-finished Lots must be under contract before any escrowed funds (including Buyer deposits or purchase balances) will be released to OSP. In the event that OSP does not reach the required minimum threshold of Lot sales within the timeline stated in the Purchase Agreement, all funds held in escrow—including the initial 5% deposit and any remaining balance submitted by the Buyer—will be returned in full, and no Lot sale will be completed.

5. Legal Agreements and Escrow Instructions:
All terms, dates, rights, and obligations described above will be further defined and governed by the formal Purchase Agreement and Escrow Instructions issued by OSP and Title Company of the Rockies. These documents, along with the completed NDA by Buyer, will be made available upon Buyer executing the online Lot reservation order and must be executed by the Buyer during the first Seven (7)-Day due diligence period in order to proceed with Buyer’s Deer Creek Lot purchase.
By completing a pre-finished Lot reservation and Purchase at https://www.oconnorstreet.com, the Buyer acknowledges that they have read, understood, and agreed to abide by these Purchase Terms and Conditions.