This Contract entered into this______day of______, 20____, by and between Bristow Farms, Inc. of Albany, Kentucky, hereinafter called the Seller, and ____________________, hereinafter called the Purchaser, WITNESSETH: 1. The Seller agrees to sell and the Purchaser agrees to buy for the total sum of____________dollars ($________) cash in hand paid under the conditions set forth in this contract all of the marked standing timber as described below on a contiguous area of approximately 30 acres located on Sewell Mountain off Highway 350 in Clinton County, Kentucky, land owned and recorded in the name of Bristow Farms, Inc. 2. TITLE AND BOUNDARY LINES - The Seller guarantees title to said timber and to defend it against any and all claims. 3. TIMBER TO BE CUT - Marked Timber - The approximately 589 trees included in this sale are marked with two yellow paint spots, one breast high and one below stump level. The Purchaser is to cut only marked trees but if any unmarked trees in the sale area are inadvertedly cut then if the stump diameter is greater than 12 inches the Purchaser must pay the Seller for such trees according to the following price schedule: per tree: White Oak $400 Black Walnut $200 Hard Maple $200 Cherry $200 Red Oak $150 Chestnut Oak $100 White Ash $100 Yellow Poplar $ 80 Hickory $ 50 Other species $ 30 The above prices are doubled for any unmarked trees cut with a stump diameter greater than 20 inches. 4. EXPIRATION TIME - Unless written extension of time is herein provided for, and is granted, all timber shall be cut, and removed on or before one year after the date of this contract. 5. THE PURCHASER - Further agrees to save harmless the Seller from any liability arising as the direct result of the timber harvesting operations; and to cut and remove said timber in strict accordance with the following operations. a. All trees not marked shall be protected against unnecessary injury in felling, skidding, or hauling operations. All stumps must be cut no more than 12 inches high on the uphill side unless circumstances prevent. b. All existing roads and trails on the sale area and on other property of the Seller over which the Buyer must travel, should be kept in passable condition at all times. All roads and trails shall be left in good repair at the expiration of the operation. All log yards and haul roads across farm fields must be smoothed and seeded when the harvest is completed. c. Any damage caused by the Purchaser or his contractor, employees, or agents, to fences or other improvements of the Seller shall be repaired or paid for by the Purchaser. d. All treetops will be pulled into the woods area when felled into agricultural fields and navigable streams. e. All skid trails must have water bars installed properly as per Kentucky Division of Forestry Best Management Practices when the harvest is completed. f. During logging and hauling all farm gates must be kept closed when cattle are present which will be from the month of March until the month of November. g. 26 trees marked as cull with a yellow paint mark at the ground but no paint mark breast high must be cut. Purchaser may remove these trees at his discretion. h. All trash and machine parts, cans, bottles, old tires, lunch leavings and any other trash dumped on the property must be removed from the premises. 6. ESCROW - Before harvesting commences the Purchaser must put 10% of the above sale price into escrow as a deposit on fulfillment of the contract. This money may either be held by Bristow Farms or by any local attorney accepted by the buyer and by Bristow Farms. If the money is held in escrow by an attorney, the buyer will be expected to pay all attorney and escrow fees. If anything on the above list is not done properly the escrow money may be used by the Seller to complete the job and any money left will then be returned to the Purchaser when harvest is completed. 7. THE SELLER - Agrees and grants to the Purchaser sufficient log yards for bulking, piling, and loading timber cut and the right to ingress and egress across and upon the sale area, and any adjacent property of the Seller, for the Purchaser, his contractors, agents, and employees, materials and logging and sawmill equipment including lumber trucks, necessary for the removal of the timber. The Seller reserves the right to designate or approve the location of any new roads across cultivated fields, pastures, or other cleared lands, and areas for bulking, piling, and loading logs and lumber. IN WITNESS THEREOF: the parties hereto have hereunto signed their names in the presence of the undersigned witnesses this ______________day of_________________, 20_____. WITNESSES: _______________________________ _____________________________ Seller _______________________________ _____________________________ Buyer Notary: Subscribed and sworn to before me, __________________ this______day of__________________, 20________. ______________________ Notary Public My Commission Expires ________________________________________
Last revised December 8, 2006.
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