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FROM (TUE)JUN 24 2008 13:43/ST.13:31~No.6880345645 P 14 <br />06/24/2008 11:57 9037829172 COLDWELL HANKER REG PAGE 14119 <br />- 2152 Clarksvi77A <br />Ccnbact Coe~arna~g Psfle 5 ot 8 02-1346 <br />(namebs or prcvard) <br />42. SETRElAENT AND 01'HER E7CPgvsES: <br />A. The tollawing expenses rnuat be paid ad or prior to dosing_ <br />(i) Exponses payrable by Seller (Seuer`e Evenses); <br />(a) Releases of eusting lism, includlnQ PwPeYment Peneftiee end r+econiln9 teec; release cf Seller's bsn <br />IlaWliry; tac staWrnencs or ceMcatec preparaUon of deed; ono-half of Tfes; and other wcpenses <br />payable by Soqer under thiS Conbsct. lied in Me fol►awing <br />(A) Seuer shell also pay an amocint tiot bD e~~ocsas $ / v~ j~ veterans Nouaring <br />order 8vyei's Ex~nses which B~(yer is prohibibed frorti pa~rin9 bY & AssiWanoe PcoQrarn or o1her governmenfal loan pnagrams, and then to other Buyer's Expenses ag altowed <br />by ttm lmder. <br />(Z) Evwtsm PaYabIe bY &sYer (Btryers Expe"aes): <br />(a) l.oom originatlon, discount. buy-dawn, and convrdtmer►t t+ees (Loan Fms). <br />(b) APpraiul tees; ioan applcadon fees; cnedll rePaft, PmRe►a0on aF fosn d cordi fees: pr~ <br />~rnm dote of dfsburaemerft t,o one month p~ior to dales of 5rst manfhly PeYr"en* re ~er, Iean-related <br />essements vnd restrietons: mat~agea fiik policy w~lh endorsernants rvquhed bY <br />inspectlon fies: qhaow amortiza6on echedules; one-haK of esctow fee; ati prepald items, includng <br />requlrod Pr+smfums for llood end hazob inaunnce, rasenre depasits for Instuance, ad valorem faxes mnd <br />speav govemmenla! asseaswwft; fa'+e1 oosn'Pfiance inspecUon; murier tee; r+epair kmpeCmn; undemiriting <br />' fee: wi1ei Oonsfer fw; expenses incideM to any loan,, and other expenses payable by euyer under Mis <br />' condaCL <br />S. Buyer ehNl pay Prntate MerlIMQ lnsurdnae Promium (PMI)• VA Loen Funding Fee. or FHA Mottgago Insurance <br />I~ Premiutn (MtP) ae reqtktied by Ihs 1endar. <br />C. If any m"ttae ezoeedi an emount exPr=* stated in tlhis conb'act for such eMense Do be paid by a PaRy, that <br />perty may twmtfnabe tlris eonbad unless the ofher Rai1Y agraes to pay such excess. Buyer r►aY rwt pay char8es <br />rohiblted by F'1iA, VA, Te.xas Veterans Housing AasisCanoe Prvgram or other gwemmental <br />and fees eqxessfY P <br />loan Drogram le9utalbna, <br />i~ 13. PRORATIONS: Taooes tor the cument year, IntereK malnumanm fees, asasmor►ts, duea and renss wfll be prorstad <br />thraugh the Cbsing Date. ThB laoc prorafion mey be calaalabed taking into considerrttion anY chaW in exemptions <br />thai wIU ~ tl+e aurront years w=L li Mns for ft cument year very trvm the amouM proramd at dosing, the <br />partiee shall acoust the prantdons w►'+sn tax sotumnts for tho curmt year are available If aaxes are not pald at er <br />prbr co dosirig. BuYer shan pay ta~oe.s for !he wrrent yur. <br />~ 14. COUALTY I,OSS: If srty pan at the Ptnparty ia damsged or destroyed by fire a othe tasualky aRer the eff6ctive <br />date af thfs conttgCt, Selier sheq roamre the PropeKy Eo its provlou9 COtldfdan a 8oon aa r.esonaby Pam'bk, but In <br />~ srry evertt by the Cfosing Daee. if Seller tab !o do so due to factas beyond Seilst's vortr+ol, Buyar may (e) tartninabe <br />lhis oonnract and the eamest money wiil be relundgi to Buyer (b) exUend de tisne br PBtfamwCe U¢ m 16 days and <br />the Closlng Date wlll be extetded ss necessmY or (o) accept the Property in l!s damaged oondifion with an <br />issigqmertt of (RSCasnco Droceeds and mceFe credit from Seller at dosfng in the arnount ot the deductiMe tmder the <br />ltlsUtffiIGe polfcy. Selfere o0ltgadorts unaer tnia peragraph are independont of any ot+er celigaetena af Seller under <br />dlls Cor1tiL <br />16. DEFIIULT: If Buyer falEs to comply wRh fhis canbad, BuYec wi{I be in deFautt and Sallor may (a) entoccs apecific <br />pertocmenee, seek svch othw rofief as may be prorided by law, vr boti, or (b) lsrminate thia contraet ond r+aoeNe the <br />eamest money as Ifwfdated damages, ft+ebY r*WW9 both Parfts fttlt this 0o11bad. If, due bD fadWre beyond <br />Seller's cantro(, Seiler fails withln the time auowed ro make any nonAasualq► repalts or ColNer the Cormnitrmon< or <br />survey, ii nquinad ot SSllet, 6uYer may (e) extmd the time for parfomianca up to 15 days end the Closing Dats will be <br />exdended es neoessary or (b) bertniRate tlti9 cvntract as ft soN remedy and rocehre the earswst monay. lt Seer fails <br />tv rampy wlth this corttr'dd tor 8ny othec reason. Sellar wpl b0 In defeult snd euyer may (a) eniwm speaFc <br />porfocrma, seek such oU+er mGef as may be provided by lew, or poth, or (b) tiermfraW this contract and reDei,re the <br />aamwt money, thereby eoeasing both parties trom this contrad <br />96. MEDIATION: It is the poNcy of the Stabe cf Texra ta enoours4e res°ludon of dtspufts 1hrouglt aIDemebve dispute <br />resolution Orowdut+e6 suc► as mediation. Any dispute betww Seqer and Buyor ralged to thls mnVact which Is nat <br />reQOlved throu9h inlonral dis~n M will D wltl not be submftea m mutualy psreera~ph d$not P cJudeoa <br />provtder. The pBrOcs to the mad'relbn shall bear the medlatlon oosts ec~apy. Tf~ <br />PartY fivm seeking epulmble reTieffrom a oourt od'compeoeM)urisdlcdon. <br />17. aTfORNEYS PESS: The preVMlling pert/ {n any legsl proeeAdinp mYdteQ to tllis CocltiCt ks dnltled OO tecOVer <br />mesonable Mm nWs f0es and ell egm of such proeaeding iname4 by the prevailUlg PertY. <br />Initfaaied for identfication by euyer and Seiier TREC NO, 20-7 <br />.,...+.u..w, <br />- 000199 <br />