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ComrmeMal Contras - Unlmyowed Ptopeny Corlceminp t7Tw s6 ]fRE �, ►aRt;, ie (i+ <br />15. DEFAULT: <br />A. If Buyer falls to comply with this contrzicl, Buyer Is in default and Seller may: <br />(1) terminate this contrtct end recelve the earnest money as Ilquideted derlogae, thereby rcloasing the <br />parties from this contract; or <br />8. It, without fault, Seller Is unable within the tlmc allowed to deliver the commitment, Buyer may <br />(1) terminate this contract end receive the earnest money, lesA Any Independent consideration under <br />Paragraph 78(3)(a), as the sole remedy. or <br />(2) erlond the time for performance up to 15 days and the dosing will be extended as necessary . <br />C Except as provided In Paragmtph 158, If Seller falls to comply with this contrect, Seiler Is In default and <br />13uyer may: <br />(1) terminate this contract end receive the earnest money, less any Independent consideratlon under <br />Paragraph 7B(3)(a), as Ilduidatod darnagos, thereby releasing the parties from this cone am or <br />(2) enforce specific performance, or seek such other relief as may be provided by law, or both. <br />16. ATTORNEY'S FEES: If Buyer, Seller, any broker, or any escrow agent is a prlsvelling party in any legal <br />proceeding brought under or with relation to this contrail or this transaction, such perry Is entitled to <br />recover from trio non- pnavalling parties all costs of such proceeding and reasonable attomoy's fees. This <br />Paragraph 16 survives termination of this contract. <br />17. ESCROW. <br />A. At closing, the earnest money will be applied first to any cash dawn payment, then to Buyer's dosing <br />costs, and any excess will be rofundod to Buyer. <br />_8. Ifboth parties mako .wrihen.damand for the earnest money, escrow agent may require payment of . <br />unpaid oxponses Insured on behalf of tho partlos and a wrdfon rolea&A of liability of escrow agent from <br />31f parties. <br />C. If one party make& written demand for the earnest money, escrow agent will give notice of tha demand <br />by providing to the other party a copy of the demand. it escrow agent doea not receive written objection <br />to the demand from the other party within 30 days after the date escrow agent sent the demand Lo the <br />other party, escrow agent may disburse the earnest money to tho party making demand, reduced by <br />the amount of unpaid expenses Incurred on behalf of the party recclving the earnest money and escrow <br />agent may pay tho same to the cneditom. <br />D Escrow agent will deduct any Independent conalderntlon under Paragraph 7B(3)(3) before dtsbursing <br />any gamest money to Buyer and will pay the Independent consideration to Seller. <br />E. If escrow agent compllos with this Paragraph 17, each party hereby reloascs escrow agom from all <br />claims rolalod to the disbursal of the earnest money, <br />F Notrces under this Paragraph 17 must be sent by certified mail, return receipt roquested Notices to <br />escrow agont are effoctive upon rocelpt by escrow agont. <br />18. MATERIAL FACTS: <br />A To the best of Sellers knowledge and belief: (Chock (1) or (2) only.) <br />(TAR -1004) 2802 lm'Niled for Identification W Buyer P- _ Sailer _. face a 01 13 <br />�.n�� -r ��r' •. .••.4l wr. �� rw�t�..,�e �.rr�t✓�,r tti ll Nl.Irl�Ultn 4R .w�IF��..�r�,.�+n,Ol[.OHUI�ItA <br />�,Nw —.�_— — .r.�rrun..l .r.rr,r.Y. r..F r.�+..�r."r�M�,... r.1�,r„�C.1 • r1�� �� <br />W <br />