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<br />:omrJ'l!lrctal Con~ct Flna~~ID~.A~de.ndU", 'Concernlng
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<br />2990.S. Church 'st.
<br />. Paris, 1'X 75462
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<br />. (6)lf'assumpti.on app~oval 'i~ required by the. note holder,' Buyer will apply.. for assumption approval
<br />with!n, . days. after. the effective date of the contract and will. make every reasonabl~ effort to
<br />obtain. assumption approVa\:. .1fBuyer cannot obtain assumptIon approval, Buyer may give Seller
<br />V'ritte'o notlge. within. .... . days after the effective date anq the contract will terminate and the
<br />eamest money, I~s~ any Ipdependent consideration under Paragraph 78(1)- of the contract, will. be
<br />r~fuAged.to Buyer. If BLiy,r does not give such notice within the time required and Buyer does
<br />qo.fcl~~~.: beca~s~ Buyer Is not able. to assume the existing note, Buyer will be In default.
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<br />] '.C: . SELLER;F"INANCING:.'
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<br />'(1) . ~t':~!l?sli1g,..~uy.er..~III:~xecute and- deliver a.promlssory note (tne note) f~o"1.Buyer to Seller In:.th~
<br />. . "arripuntQf.$." . .::::'''' . . ..... . . . ., " beari.ng . :', . %.lnteresrperanouJ'!l:.Matured,
<br />. tJnp,alc;f .amollnts ~II.I, bear Interest at the maximum rate of inter~s~ al.lowed by la'i{;" .,:~:: ;.1 . : .
<br />. ,0 : ,0.0 . '. 0 o' " ~. .:..0 .~. 'o::o.O\;':I~ :..,:0
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<br />(2) ~he, note will be pay~ble .a~' follows: ,... :' :: ;:.;:-::. . ... ".?~ ..'.. . ..
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<br />o (a),ln:.on'~ payment,:d~e ... . '. '. .... . . :< .. :' after"'the date
<br />: of :the note,. w!th 'h'~terest payable:' . 0 (I) monthly 0 (iI)
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<br />o (b) In Installmentslof'$ . .
<br />. . begin,nlng . . .' .
<br />. a'nd 'contin.uln9. at O'monthly
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<br />o indudlng Interest 0 plus interest
<br />after the' date 'of the note
<br />o . intervals thereafter for
<br />when the entire balance of the note will be due and payable. .
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<br />o (c)- Interest-on.ly,ln.. 0 monthly 0 '... installments for theftrst
<br />'. y.ears;'and ther~after in Installments of $"0 including intere.sf 0 plus interest
<br />. . beginning , '~" . . . ' after the dat~ of the note and 'continuing at
<br />o monthly 0: '. ....'. : . Intervals thereafter for .
<br />: ~wheri.the"entlr& balan'ce'.of~e (lote will be due and payable.~ . '., . ". ... ..': .
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<br />.' : ~ :. . :' 0 '. . ." '0 . . '. . . . .' .' .
<br />(3) :rh~~.Qpt~. will. :~e ..s~~!Jreql by vendor's ~nd deed 'of trust liens' and ao- assignment of leases. payal?le at
<br />tt!,~pIEl.~d~deslg,n~ted::byS~"er.. . .:....... -'..... . ....:.. .....;....... '. ':".;',. .:'.:..,...
<br />'. (M..,;T~~~not~, W~I.I'. pro~lde that'if Buyer fails to tiniely pay an.' Installment within 10 <;jays after the
<br />. .ir:tsta11ri,1enn~ due; B~yer will. pay a lat~ fee equa/to 5% 9f thE' i~stallJ'!lent n9t p'ai~. '
<br />(5): ;the i:!~t~'. 'G):-WIW m'.WIII 'riot-'provid~ :for' liability (persoriai: or. c:orpb~te), against tt).~ make'r. In th~
<br />everitofdefault. . ',",':'. '. ..... ..... '. .::. ..... .'(." .. .;.
<br />H(6). Tj,-~ ~~:~~i' ~e~~~ep~~cfJn'-wnore ~r: rn' ~'pjrtaf anytrrne 'W1ffi'()Dl:.p'Einan;,~. AnY 'pre~~areto be
<br />. a.pplied to the payment of the Installments of principal last maturing and interest will .imm~diately
<br />t~ase ~nt~e.prepEdd ,p~inc.ipal... '. . .: ., , .. . : ., .. '.
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<br />(7). The lien .securing. paymenf;pf t~e .note will be Infenor to any lien securing any" superior note described
<br />In.:thls'add~ndum\ If; an ow.n~r's: policy of title In~urance Is furnished; Buyer,at 'Buyer's exp~nse, will
<br />fumish.iSeJler with a .mortgagee title polley in the amount of the note at closing.' . " ,. . .
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<br />(8) I"alfl~~ .~~'r' P~.rt ~f<~lie I?roperty I~ sold or .conveyed wlthol:lt-SeJ/~r's piior Written'~onse~t, :seller,'.at,
<br />S~lIer's option., mtjiy. declare the outstanding principal bal~nce of the note, plus' accrued Interest,
<br />i~mediately: d~e arid payable. Any of the. following Is not a sale.'or convey~nc~ of the Property: .
<br />(a) the;.creatloil of a ',subordInate lien; . '.
<br />(b): a.:s'ale:uhder a ,$l;Jbordinate lien: . '. .
<br />(c)a..deed ,;md~r ttir~at or order of condemnation; ...... .
<br />(d)'a ~onvey~u:)ce SOlely oetween the partl~s; or .
<br />(~))?~ p~s~~g~ of tlUe by ~eason ~f .death of a maker or operation of law.
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<br />AR-j931)10-18-0S"';; .... ........ ." '.' '" ;":.' ~'~'.:'..': ..:..... .... Page 2 of'3:'. .',
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<br />Produced ~ih iJ~Fonl)"" by RE ~~~.t,'LLC 18025 FIft.t.n M!I. Rold, Clinton ToWhlp, Mlchlg.n 48035 Ww-N zlo(orm com ...... . "'Paul Brannon.z :
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