Finance Agreement

This Finance Agreement ("Agreement") is entered into on [Date], by and between Magdalena Homes LLC, hereinafter referred to as the "Seller," and [Buyer's Full Name], hereinafter referred to as the "Buyer."

1. Property Reference: The Seller agrees to sell, transfer, and convey to the Buyer the pre-fabricated home referenced in the previously entered Deposit Agreement, including all fixtures and improvements therein (the "Property").

2. Purchase Price: The total purchase price for the Property is $98,000. The Buyer shall make a down payment of 20%, amounting to $17,100, payable on [Date of Down Payment].

3. Financing Terms:

a. Loan Amount: The remaining balance after the down payment, which is $77,400, shall be financed by the Seller.

b. Interest Rate: The annual interest rate for this financing arrangement is [X]%.

c. Term of Loan: The loan term shall be [X] months.

d. Monthly Payments: The Buyer agrees to make monthly payments of $1,150, inclusive of principal and interest, starting on [Date of First Payment], and continuing on the same day of each successive month thereafter until the loan is fully paid.

4. Late Payments: In the event that a payment is not received within [X] days of its due date, the Buyer shall be charged a late fee of [X]% of the overdue amount.

5. Prepayment: The Buyer may prepay the outstanding balance of the loan at any time without incurring any penalties or additional fees.

6. Default:

a. If the Buyer fails to make any payment within [X] days of the due date, the Seller may declare the entire outstanding balance of the loan immediately due and payable.

b. In the event of default, the Seller may take possession of the Property and retain all payments made by the Buyer as liquidated damages.

7. Governing Law: This Agreement shall be governed by and construed in accordance with the laws of the state of [State].

8. Entire Agreement: This Agreement constitutes the entire understanding between the Seller and the Buyer and supersedes all prior negotiations, understandings, and agreements, whether oral or written, between the parties. IN WITNESS WHEREOF, the parties hereto have executed this Finance Agreement as of the date first above written.

Magdalena Homes LLC ___________________________
[Signature]
[Printed Name]
[Title]

Buyer ___________________________
[Signature]
[Printed Name]
Date: [Date]