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<br />Third Party Financing Condition Addendum Concerning <br /> <br />Page 2 of 2 02-13-06 <br /> <br />3400 Old Tigertown Rd <br />Paris, TX 75460 <br />(Address of Property) <br /> <br />appraised valuation. The appraised valuation is arrived at to determine the maximum <br />mortgage the Department of Housing and Urban Development will insure. HUD does not <br />warrant the value or the condition of the Property. The purchaser (Buyer) should satisfy <br />himself/herself that the price and the condition of the Property are acceptable. " <br />NOTE: HUD 92564-CN "For Your Protection: Get a Home Inspection" must be signed and <br />dated by Buyer and attached to this Addendum. <br />o D. VA GUARANTEED FINANCING: A VA guara.nteed loan of not less than $ <br />(excluding any financed Funding Fee), amortizable monthly for not less than years, <br />with interest not to exceed % per annum for the first year(s) of the loan <br />with Loan Fees (loan origination, discount, buy-down, and commitment fees) not to exceed <br />% of the loan. <br /> <br />VA NOTICE TO B~YER: "It is expressly agreed that, notwithstanding any other provisions of <br />this contract, the Buyer shall not incur any penalty by forfeiture of earnest money or <br />otherwise or be obligated to complete the purchase of the Property described herein, if the <br />contract purchase price or cost exceeds the reasonable value of the Property established by <br />the Department of Veterans Affairs. The Buyer shall, however, have the privilege and option <br />of proce'eding with the consummation of this contract without regard to the amount of the <br />reasonable value established by the Department of Veterans Affairs. " <br /> <br />If Buyer elects to complete the purchase at an amount in excess of the reasonable value <br />established by VA, Buyer shall pay such excess amount in cash from a source which Buyer <br />agrees to disclose to the VA and which Buyer represents will not be from borrowed funds <br />except as approved by VA If VA reasonable value of the Property is less than the Sales <br />Price, Seller may reduce the Sales Price to an amount equal to the VA reasonable value and <br />the sale will be closed at the lower Sales Price with proportionate adjustments to the down <br />payment and the loan amount. <br /> <br />Buyer hereby authorizes any lender to furnish to the Seller or <br />information relating only to the status of Financing Approval of Buyer. <br /> <br />~,~, \)~ <br />Buyer l <br />Shirley Posey <br /> <br />Buyer or their representatives <br /> <br />Seller <br />John A. Womack <br /> <br />Buyer <br /> <br />Seller <br /> <br />This form has been approved by the Texas Real Estate Commission for use with similarly approved or promulgated <br />contract forms. Such approval relates to this form only. TREC forms are intended for use only by trained real estate <br />licensees. No representation is made as to the legal validity or adequacy of any provision in any specific transactions. <br />It is not intended for complex transactions. Texas Real Estate Commission, P.O. Box 12188, Austin, TX 78711-2188, 1- <br />800-250-8732 or (512) 459-6544 (http://www.trec.state.tx.us)TRECNo.40_2.This form replaces TREC No. 40-1. <br /> <br />(TAR-1901) 2-13-06 <br /> <br />Produced With ZipFonn '" by RE FonnsNet, LLC 18025 Fifteen Mile Road, Clinton Township, Michigan 48035, www.ziofonn.com <br /> <br />TREC NO. 40-2 <br />Page 2 of 2 <br />Womack to Pose <br />