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TocAs ASsQCIAT1oN OF REALTORTI <br />COMMERCIAL CONTRACT FINANCING ADDENDUM <br />us,[ -Vom rrc o' W �To.w • •01 A ,Owns <br />ADDENDUM TO COMMERCIAL CONTRACT BETWEEN THE UNDERSIGNED PARTIES CONCERNING <br />THE PROPERTY AT <br />4rTN 76 BTREET. PARIS. TELL <br />The portion of the Salos Prier not payable in cash will be paid as follows; (Chock at/ that apply.) <br />19 A• THIRD PARTY FINANQING: <br />(1) The contract Is contingent upon Buyer obtaining a third party loan secured by the Property In the <br />amount of S aeobo.00 for no less then +b years with tno InIU21 Interest rate <br />not to exceed y.b00% per annum. <br />(2) Not later than u days after the effective date of the contract, Buyer must apply for the thlyd party <br />loan descrlbod In Paragraph A(1). Buyer must make every reasonable effort to obtain the loan. <br />Buyer has obtained No loan when the fonder has determined that Buyer has satisfied all of fondor's <br />financial requirements (those hams relating to not worth. Income, and csadllworthinses). If tho loan <br />is not obtained within .e days after the ef(octive date, the contract will terminate and the <br />eamest money, loss, any independent consideration under Paragraph 7B(3)(8) or the contract, will <br />be refunded to Buyer. <br />(3) Each note to be executed under this addendum i& to be -secured by vendor's and deed of bust lions <br />(d) If the loin Is obtained within the time roqulred under Paragraph A(2) but Buyer's lender has not <br />completed lender's dosing requirement- (for mmple, survey, Insurance, ropaus, closing <br />documents, appraisal), the closing data will be extended up to 15 days only if necessary to <br />complete lender's dosing requlrementc. <br />❑ d ASSUMPTION' <br />(1) Buyer wlll assume the unpaid principal balance of the existing promissory note secured by the <br />Property payable to <br />dated which balance at dosing will be 3 <br />(2) Buyers Initial payment will be the first paymonl due after closing. Buyer's assumption of the <br />existing note Includes all obligations Imposed by the dead of trust securing the note, rewrdod In <br />Vol. , Page In the real property records of the county where the Property is located. <br />(3) If the unpaid prindpel balance of the assumed loan as of the data of closing varlos from the loan <br />balance stated above, the cash payable at closing will be adjusted by the net amount of any <br />variance; provided, If the total principal balance of the assumed loan varies In an amount greater <br />than S at dosing, either party may terminate this contract and the oamost money <br />will be refunded to Buyer unless either party elects to eliminate the excess In the variance by an <br />appropriate adjustment at closing. <br />(TM -101) 2.6,02 Inlbaled for IdentInc.lion by auyar Sauer Page r or a <br />�..-�.rr �+tif `n ^.IY��,Mw.rr..rA 1..r..�s.. �wpw lf.�., yY Nl.lb. •IWf nA IR I�R [M.t/�frl��..r1�r�.r.rlAlr�CrW <br />ti � . f•-sr. MA n�Yw��YW'- 1Y..V�r�.�,� -.r Y...IAPT�1��.lY�rrJ.� \I!1 I�r• <br />N Ire <br />