Ó¢ÎĺÏͬÑù±¾(2)

4. The Seller and Purchaser mutually agree as follows:
(a) All modifications of the contract will be reduced to writing, dated, signed, and witnessed and attached to this contract.
(b) Any need for reassignment of interest of either party may be changed within 10 days following written consent by both parties.©úAll terms of this contract legally bind the named representatives to excuse this document as written.
(c) The total number of trees conveyed is _____ (having a volume of approximately _____bd. ft.) composed as follows:
_______ white oak, _______ red and black oak, __________________, ____________________, ______________________, __________________.
(d) In case of dispute over the terms of this contract, final decision shall rest with a reputable person to be mutually agreed upon the by parties to this contract.©úIf the parties hereto do not agree upon a third party within 10 days following the initiation of the dispute, or in the case of further disagreement, then within 15 days from the initiation of the dispute, it shall be submitted to a Board of Arbitration of three persons, one to be selected by each party to this contract and the third to be selected by the other two.©úThe Board shall decide the dispute within 5 days after the matter is referred to it.

In the event that damages are awarded to the Seller by the Board of Arbitration and are not paid on the date that the award is made, then all operations of the Purchaser shall immediately cease, and if the award is not paid or satisfied within 30 days after the date of award, the Seller may take immediate possession of the premises upon which the timber is located, shall retain as liquidated damages all money paid by the Purchaser, and the title to all timber shall revert to and become the property of the seller.

In witness whereof, the parties hereto have set their hands and seals this __________ day of ______________________ 20____.

WITNESSES:

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