2009-016-ORD REZONE 3700 BONHAM - Laserfiche WebLink

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l�I TEXAS Assoca F AN COMMERCIAL CONTRA CT NN FINANCING ADDENDUM USE OF THIS FORM BY PERSONS WHO ARE NOT EMBERS OF REALT TEXAS ASSc COGS ON OF REALTORS® IS NOT AUTHORIZED. ADDENDUM TO COMMERCIAL CONTRACT BETWEEN THE UNDERSIGNED PARTIES CONCERNING THE PROPERTY AT Corner of oop 286 and Hwy 82 West The portion of the Sales Price not payable in cash will be paid as follows: (Check all that apply.) [x] A. THIRD PARTY FINANCING: in the 1 The contract is contingent upon Buyer obtain ing third party loan(syea s with btherinit initial Property rate () amount of $ for not less than m - per annum. p after the effective (2) Buyer will apply for the third party loan(s) described in Paragraph n no promptly t y date. If Buyer cannot obtain the loan(s), Buyer may give Seller written notice within days after the effective date and the contract will terminate n I the e refunded rto Buyer. If Buyerdoesdnot consideration under Paragraph 76(1) of the contract, give such notice within the time required, this contract will no longer be subject to the contingency described in this Paragraph A. 3 Each note to be executed under this addendum is to be secured by vendor's and deed of trust liens. [� B. ASSUMPTION: 1 Bu er will assume the unpaid principal balance of the existing promissory note secured by the ( Property payable to which balance at closing will be $ dated 2 Buyers initial payment will be the first payment due deed after of tru9t Buyer's eur ngassumption note ofreco recorded existing n () Y note includes all obligations imposed by the (recording reference) in the real property records of the county where the Property is located. varies from the loan (3) If the unpaid principal balance of the assumed able at closing will be adjusted by the net amount of balance stated in Paragraph B(1), the cash pay loan I varies in an amount an variance; provided, if the total principal balan ert omay terminate t this contract and the earnest greater than $ y at closing, either pa y money will be refunded to Buyer unless either party elects to eliminate the excess in the variance y an appropriate adjustment at closing. Buyer may terminate the contract and the earnest moue if the note holder on assumption trequires: (4) Y and Seller declines to pay Paragraph 7B(1) of the contract, will be refunded to y (a) Buyer to pay an assumption fee in excess of $ such excess; %; or (b) an increase in the interest rate to more than _--- (c) any other modification of the loan documents. note, Seller requires a vendor's lien and deed o (5) Unless Seller is released of liability on any assumed n ssumption, which will be automatically released on execution and delivery of trust to secure a release by the note holder. Page 1 of 3 (TAR -1931) 10 -18 -05 Montgomery - M Coldwell Banker 3749 Lamar Av PariS, TX 7826 9172 Chad Brown Phone: (903) 782 - 9800 Fraser, Michigan 48026 www zip_ �o_�1ix.c °m Produced with ZipForm® by ziPLo9ix 16070 Fifteen Mile Road,