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                           DISCLAIMER AND INSTRUCTIONS   
                   FOR REAL ESTATE PURCHASE CONTRACT (Alberta)   
                                  APRIL 2001   
      
   The author, the publisher, and the vendor of this form make no   
   representations or warranties regarding the outcome or the use to which   
   this form is put and are not assuming any liability for any claims, losses,   
   or damages arising out of the use of this form. The user of this form   
   should not rely on the author or publisher of this form for any   
   professional advice.   
      
      
                  Stuart Hyderman            GENERAL INSTRUCTIONS   
      
   Self-Counsel's Legal and Business Forms on Disk contain the following files   
   with different extensions for your use, depending on what word processing   
   package you have on your computer:   
      
     1. If you use Microsoft Word 6.0 or higher, use the file with the   
        extension *.doc   
      
     2. If you use Acrobat, use the file with the extension *.pdf   
      
   Follow these steps for using the computer form:   
      
     1. Using your word processing software, open the appropriate file.  (You   
        will probably want to copy the file onto your hard drive, rather than   
        use the floppy disk version.)   
      
     2. Complete the form according to your wishes. If instructions were   
        included with the package, please be sure to read them as you go   
        along. Note that the computer form has been designed to look as close   
        as possible to the original Self-Counsel Press printed form provided.   
        The final appearance of your computer form will depend upon what type   
        of printer and word processing software you are using.  As a result,   
        some modifications may be necessary.  In particular, page breaks or   
        blank lines may have to be inserted to ensure that related lines of   
        text remain on the same page.  You may wish to use the original   
        Self-Counsel Press printed form as a rough guide. The computer form's   
        design allows you to fill in all, some, or none of the blank sections   
        before printing.  Most of these blank sections are represented by a   
        number of underscore characters like this "_____________." Sometimes   
        these sections may be too long for your computer to fit on the current   
        line, resulting in text which may look like:   
      
                  n  a  m  e      o  f     p  e  r  s  o  n _________________   
                  _______________________________   
      
        instead of:   
      
                  name of person ____________________________________________   
      
        If you do not wish to fill in the person's name just yet, then simply   
        delete a few of the underscore characters until the blank section fits   
        on the appropriate line.   
      
     3. Review your work.   
      
     4. Print and sign!   
      
      
                     REAL ESTATE PURCHASE CONTRACT (Alberta)   
      (PURCHASERS AND VENDORS - READ CAREFULLY BEFORE COMPLETING AGREEMENT)   
      
      1.  The contract, when signed by the parties, is a legally binding   
   agreement for residential real estate transactions in Alberta. If you are   
   unsure of anything, seek professional help. Read carefully before signing.   
   All the terms of the contract should be in writing as the contract   
   expressly excludes any verbal agreements. Likewise, anything in the   
   contract that is not applicable to the sale should be deleted by striking   
   it out and initialling.   
      
      2.  Any deposit paid directly to a Vendor is unsecured. It would,   
   therefore, be advisable that any sizable deposit be held in trust with an   
   agent or a lawyer, unless you file a caveat against the property pursuant   
   to the Real Estate Purchase Contract for which you will probably require   
   the assistance of a lawyer.   
      
      3.  Clause 1: Any conditions that you require as Purchaser, such as the   
   sale of your existing house, or having this contract reviewed by a lawyer,   
   should be inserted in this clause.   
      
      4.  Clause 2: If you wish to add additional terms, such as the   
   requirement that the Vendor provide you with a current copy of the Real   
   Property Report, such a provision should be included in this clause.   
      
      5.  Clauses 5 and 6: The Adjustment Date and Possession Date are usually   
   the same.   
      
      6.  Clause 7: If you wish to purchase chattels which are not fixtures,   
   you should list them in this clause. If you are in any doubt as to whether   
   an item is a fixture or a chattel, you should specifically refer to that   
   item in this clause.   
      
      7.  Clause 10: The Vendor should realize that if a mortgage being   
   assumed by the Purchaser is a CMHC mortgage, the Vendor will remain   
   responsible for that mortgage even though the Vendor has sold the property.   
      
      8.  Clause 12: At the time of completion, it is advisable for the   
   following procedure to be followed:   
      
        a.  The Vendor's lawyer should prepare all necessary documents   
        including the Transfer of Land and forward them to the Purchaser's   
        lawyer in trust for completion by the Purchaser in accordance with the   
        reasonable trust conditions set out by the Vendor's lawyer.   
      
        b.  The amount due on completion including all adjustments should be   
        paid in trust by the Purchaser to the Purchaser's lawyer before the   
        completion date.   
      
        c.  Once the documents are signed and the necessary funds are in   
        trust, the Purchaser's lawyer will arrange to register the Transfer of   
        Land together with the new mortgage if any, at the appropriate Land   
        Titles office.   
      
        d.  After confirmation of Registration of Title in the Purchaser's   
        name, the Purchaser's lawyer will release the sale proceeds to the   
        Vendor. The Vendor is entitled to the sale proceeds on the completion   
        date; consequently all necessary documents must be signed and monies   
        put in trust in advance of such date.   
      
        e.  The costs of registration of the Transfer and the mortgage are   
        paid by the Purchaser.   
      
   VENDOR'S COSTS   
   Lawyer's fees and expenses for:   
      - preparation of the Transfer and any Vendor takeback mortgage   
      - attending to sale on Vendor's behalf   
      - discharging any encumbrances   
      - Land Titles search fees   
      - deliveries and any other miscellaneous expenses   
      
   Costs of clearing title, including:   
      - discharge fees charged by encumbrance holders   
      - prepayment penalties   
      
   Real estate commission (if applicable)   
      
   PURCHASER'S COSTS   
   Lawyer's fees for attending to sale on Purchaser's behalf, including   
   advising on purchase and expenses for:   
      - title searches   
      - Land Titles registration fees for transfer and mortgage   
      - deliveries and any other miscellaneous costs   
      
   Costs of mortgage including:   
      - mortgage company's fees   
      - mortgage company's lawyer's fees   
      - real property report (if required)   
      - appraisal (if required)   
      - searches of title and Land Titles registration fees   
      
   Fire insurance (if applicable)   
      
   GST (if applicable)   
      
      
   [continued in next message]   
      
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