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4C:~ <br />TFXhS ASSOCUlT10N OF RFA170RS' <br />COMMERCIAL CONTRACT FiNANCtNG AppENDUM <br />u1c a rME row or vwo w,c r0-nWoM1 O.' nc tuw wb~M X~T(H1111s 4 r01 nrt W+inx <br />.-r- .rnulTOl'Je.IncYO, <br />ADDENDUM TO COMMERCIAL CONTRACT BETWEEN THE UNDERSIGNED PARTIES CONCERNING <br />THE PROPERTY qT <br />97T1476 BTIIEET. P4NI6. TEZ1C <br />The portlon of the Satas Prlcn not payeble in casA wll( be peid aP follpws: (CRock oll fhnl ayply.) <br />ID A. THIRP PARTY FINANCiNG: <br />(1) Tho tonirnct IB Wn6nQent upon I9uyor obtaining a lhIrC party Ioan 6eCUred by the Proporry In lAa <br />smounto(5 aCaoo.on tornollcssthen 10 yenrs wlth tho Inlilal Intereat rate <br />not to axcded 7.000% per annum. <br />(2) tvot leter than days aflor the ellective dato of Lho cantract, Buyer must apply for tho tnW perty <br />loen dosatCOa !n PBragreDh A(1), puyar must meke every roesoneblo offoA Lo oDtam the loan. <br />Duycr has o6mined tho ioan u+hon Lho londer hes delermincd that Buyor has nat;ntied ali ol londors <br />Menclal requiremenes (thoso Nnms relating to no[ worth, lncame, and creelM,orthlneae). I( tho loen <br />la not obtamed wlthln .e days eRor the atfectlva dale, the contrad wMl lertnlnaio and the <br />aemeet money, loeb anr Indopendent mn6idcra0on under Paraerpph 73(3)(a) 0( the contmcl, wdi <br />be retunded to Buyar. <br />(3) Eath nole l0 6e exgCUted under thls addendum is to Oc sccurod by vondare end deed of trvsl flons <br />(4) !f the loan Is obWlnod within the tlmc roqulred under Paragrsph A(2) but Buyera lender hes not <br />compietad lendors doelnp reqwremcnt, (br cummple, survey, Insuranco, ropalrs, cloclng <br />dowmanls, qpprHissl), the closlnp doto wifl De oxlended up lo 15 deys oniy i( necossary ta <br />compiotn londor's dosinp requlremerRs, <br />❑ D ASSUMPTIpN• <br />(1) Buycr wlll nssumo tne unpeid princJpal balnnco of the exloUng promissory note senired by the <br />Proporty pnyeble ta <br />dated wMch Dfllanco al dos+ng will De $ <br />(2) Buyer's Inltfol payment wlll be the flrst paymonl due efter cloaing. Btryors assumplion ot the <br />cxlstlnp note Includea ell ohllgatlons Impoced by the dcod o( Irusl aemring the nds, reoardod In <br />vot. , Pape In tho roal property rccords of lno counry where the Property ks located. <br />(3) If tho unpald prlndpel bqlence of tho assumod loen ae of lhe doto of clos-in8 varlass frvm tna loan <br />delence atated above. Lho cash payeble al closinp wlll De eajusted by the net amounl of any <br />varlancc; prov(dcd, H tlio toisl pdnclpal Catanco of the aeeumed loan varics In on omount pmetar <br />tAon $ at doslne, ellher party may tcrminalo thlc mntrACt end the oamost monoy <br />wif1 po rofundod to euyer unlese either party olecu to eliminete the exccjjs : In the vartance by en <br />npproprlnto odjustment at cioaing. <br />(YM-1 B71 J 2bp2 inloaiaa tor iaenuncdUOn by Durvr Seuer PiQs t ol a <br />Y~~~~r./~~+~f ~n~+IMi+~.h~rru~rl~-`..~rr.0 1y►~LWI~I.M1,~.T-.o,.-,..e,R~~~ -~...._,.~..~~..~.~..o,~,..<,m <br />