and here's a sample. should help

Bayou Pointe Condominium Preliminary Reservation Agreement

This Preliminary Reservation Agreement is between Bayou Construction, LLC, ("Developer") and ____________________________________, of ____________________________________ ("Purchaser").

1. Plans of Development. Developer is engaged in the development of a condominium project to be know as Bayou Pointe Condominiums located in Ottawa County, Michigan ("Project"). Developer has also organized The Bayou Pointe Condominium Owner's Association, a Michigan nonprofit corporation (the "Association"), for the purpose of operating and maintaining the Common Elements of the Project. All Co-owners of Condominium Units in the Project shall become members of the Association and shall be subject to and abide by all the provisions of the Master Deed, Condominium Bylaws, condominium Subdivision Plans, Articles of Incorporation, Bylaws and Rules and Regulations, if any, of the Association.

2. Reservation and Deposit. Purchaser hereby pays a reservation deposit of ______________Dollars to reserve the right to purchase form Developer, the exclusive ownership of Unit Number________, as depicted on the Site Plan of the Project dated ________________ together with an undivided percentage interest in the Common Elements of the Project (the "Unit"). The location, design and layout of the Unit to which this Preliminary Reservation Agreement applies, and of all other improvements in the Project, may be modified by Developer in its sole discretion. The Unit, and Purchaser's rights thereto shall be subject to the terms of the Michigan Condominium Act (Act 59, Public Acts of 1978), as amended.

3. Terms of Purchase. The purchase price for the Unit shall be ________________________Dollars ($____________) subject to adjustment by Developer when the cost of construction of the Project and the Unit can be more accurately ascertained or as otherwise determined by Developer. At such time, the parties shall enter into a formal Purchase Agreement which shall set forth in greater detail the precise terms of purchase and method of payment of the purchase price, together with all obligations of the Developer and Purchaser. All sums received by Developer pursuant to this Agreement shall be applied to the purchase price in the resulting Purchase Agreement.

4. Escrow of Funds. All sums received by Developer from the Purchaser pursuant to this Agreement shall be deposited with ____________________________________ as escrow agent (or with an other escrow agent qualified under the Michigan Condominium Act) ("Escrow Agent"), under an Escrow Agreement between Developer and Escrow Agent (attached as Exhibit "A"). Purchaser has read the Escrow Agreement, understands it, agrees to be bound by it, as though a party to it. Purchaser understands that Developer and Escrow Agent may modify the Escrow Agreement, consistent with the Michigan condominium Act.

5. Cancellation Rights of Purchaser. Purchaser has the right to withdraw, without cause and without penalty, at any time prior to the execution of a Purchase Agreement by written notice to Developer and Escrow Agent. In such event, all amounts paid by the Purchaser under this Agreement shall be returned to the Purchaser within 3 business days after receipt of written notice of the election to withdraw, and all rights and liabilities of the Purchaser and Developer hereunder shall terminate.

6. Cancellation of Rights by Developer. If, prior to the date on which Developer enters into a Purchase Agreement with the Purchaser, the Developer determines not to construct the Unit or for any other reason desires to withdraw as a party to this Agreement, then Developer shall notify the Purchaser in writing. In such case, Developer shall return to Purchaser all sums paid hereunder, and all rights of the Purchaser shall terminate without further liability on the part of the Developer.

7. Assignability. Purchaser shall not assign or transfer its interest in the Agreement in whole or in part without prior written consent of Developer, and, at Developer's options, any such purported assignment shall be void.

Date:_______________ Bayou Construction, LLC
By:________________________________
Percy Nienhuis, Member

By:________________________________
Jerry Overbeek, Member

Purchaser



Date:________________ ___________________________________



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Note added at 2003-12-19 18:41:25 (GMT)
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the head honcho [principal, owner. here: developer] is always the one with the ANT as in mandant and the one that is secondary is the AIRE as in mandataire or concessionaire [x party, or something else and here: purchaser]...unless I got it backwards which sometimes happens with me with their are two things...:)

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Note added at 2003-12-19 18:53:02 (GMT)
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Yes, now that I have seen your text...developer=reservant and purchaser = reservataire