HomeMy WebLinkAbout2020-2995March 10, 2020
To Whom It May Concern,
The City of Columbia Heights Economic Development Authority (EDA) has been asked to
provide verification of funds in the amount of $125,250 plus any additional fees for the
purchase 0£ 4441 Central Avenue NE, Columbia Heights MN, 55421.
I hereby certify that the BOA has the necessary cash resources available tQ complete the
transaction proposed in the Purchase Agreement dated 2-26-2020, submitted by the BDA for the
purchase of 4441 Central Avenue NE.
STATE OF MINNESOTA ) ) ss.
COUNlY OF ANOKA )
CITY OF COLUMBIA HEIGHTS ECONOMIC DEVELOPMENT
AUTHORITY
By:
Its ExecutiY
The foregoing was aoknowledged before me this 10th day of Marc� 2020, by Kelli Bourgeois, the
Executive Director, respectively, of the Economic Development Authority in and for the City of
Columbia Heiahts, a public body corporate and politic pursuant to the laws of the State of Minnesota.
��Notary Public I J
I
Contract # 2020-2995
�Rf/MAX 1f' Synergy
ADDENDUM TO COMMERCIAL
PURCHASE AGREEMENT: COUNTEROFFER
This form apprOV6d by the Minnesota Association of REALTORS-,
which dlsclalms any llablllty arising out of use or misuse of this form.
@ 2019 Minnesota Aesoclatlon of REALTORS-, Edina, MN
1.Date Ma.rah 12th, 2020
2.Page 1
3.Addendum to Purchase Agreement betw een parties, dated __ Feb...;.;.;_r....:.ua..;.;.;;;.,;y.__ __ _,.;;2;.a6 .... th __ ..;;;2;,.;ao""'20�-, pertain ing
4.to the purchase and sale of the Property l ocated at-=4-=-44.;.;1=-----=c=en=.:t=r:.=a=-l -=A:.;.;:v-=en;;;;u:;;;•;...;;;.R&:=--------------
5.Columbia Heights
6.This Counteroffer does not include the terms or conditions in any previous Countero'ffer(s).
55421
7.The Purchase Agreement Is rejected and the following Counteroffer l:o; hereby made. AH terms and conditions remain
8.the same, as stated ln the Purchase Agreement, except the following:
9.(Select appropriate changes from original offer.)
10.� Sale price shall be$ -=1�2s=2:.=.s�o ·:..::o;.=.o ________________________ _
11.D Earnest money shall be a total of$------------------------
12.� Closing date shall be on or before _.;;;;Ae.r:;.;i:;.:;l;....=.17.:....;th=,....:2:;.;0:..::2:.::.0 ________ _
13.D Ot her: ______________________________ _
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MN:ACPA:C-1 (8/19) �R1EALTdRt
lnstanetFORMS
ADDENDUM TO COMMERCIAL PURCHASEAGREEMENT:COUNTEROFFER
32.Page2
33.Propert y located at 4441 Central Avenue Nil Columbia Heights MN 55421
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47.SELLER
48. (Business Entity or lndlvldual Ne.rM)
49.By: (Seller)
50.Its:(Title)
51. (Dale)
52.SELLER
53. (Business Entity or Individual Name)
(Date)
BUYER
(Business Entity or Individual Name)
54.By:By: ______________ _
(Seller) (Buyer)
55.Its:Its: _____________ _
56.
(lltle)
(Date) (Date)
(Tltle}
57.ATTACH ONLYTHE FINAL COUNTEROFFER ADDENDUM TOTHE PURCHASE AGREEMENT.
58. THIS IS A LEGALLY BINDING CONTRACT BETWEEN BUVER(S) AND SELLER(S),
59.IFYOU DESIRE LEGAL OR TAX ADVICE, CONSULT AN APPROPRIATE PROFESSIONAL.
MN:ACPA:C-2 (8/19)
cJ ftEAL�dRs
lnstanetFORMS
�RE/MAX •Synergy
COMMERCIAL PURCHASE AGREEMENT This form approved by the Minnesota Association of REALTORSand the Minnesota Commercial Association of REALTORS-, which dlaclalms any llablllty arising out of use or misuse ot this form. o 2019 Minnesota Association ot REALTORS-, Edina, MN
1.Page 1 Date February 26th 2020
2.BUYER{S) is/are : COl.uml>ia Beiqhte Jroonamio D .... lop-t Alltbodty ' (Check one.)
3.D lndlvfdual(s); OR l!l a business entit y organized under the laws of the State of .;;;Mi;:;;;. =nnaa;.;e;.;;•�o"""t.a=-------
4.SELLER($) is/are: ________________________ , (Check one.)
5.D lndlvldual(s}; ORO a business entity organized under the laws of the State of ________ _
6.Buyer's earnest money In the amount of ________________________ _
7._ F...:.iv.;...;e:........::.Th;;;;.o;:.;u;;.;:a..:..ac...nd:;;..._. _____________________________ Dollars
a.($ s, ooo · oo ) shaii be deiivered no later than two (2) Business Days after
9.Final Acceptance Date of this Purchase Agreement to be deposited In the trust account of: (Check one.)
10.D llstlng broker; or
11.[!] Stewart U.t1a
(Trustee)
12.within three (3) Business Days of receipt of the earnest money or Flnal Acceptance Date of this Purchase
13.Agreement, whichever Is later.
14.Said earnest money is part payment for the purchase of property at _______________ _
15.-=4�4.::.:'1=-----c=-=•=n:..::t=r•==l:......:::k;,:,,;ven=u:..::e.....:N:.:.::l.=-------------------------located in the
16.City/Township of -=Co-=l=-=umb==i•=--=B:..::9=..igch::..::t:::.• _______ , County of =An=o.::..;ka,;=.. ___________ _
17, State of Minnesota, Zip Code 55421 , PID # (s) 363024220042
18.
19.and legally described as follows LO!S 22 Ii 23 BLK 1 RBSIIRVOIR HILLS, SUBJ '1'0 DH 01' UC
20.
21.----------------------------(collectivelythe•Property•)
22.together with the personal property as described in the attached Addendum to Commercial Purchase Agreement:
23.Personal Property, if any, all of which property the undersigned has this day sold to Buyer for the sum of:
24.Ninety 'l'housand Two Hundred Ji'ifty
25.
26.($ 90, 2so. oo ) Dollars ("Purchase Price"), which Buyer agrees to pay ln the followlng manner:
27.1. CASH of 100 percent (%) of the sale price, or more In Buyer's sole discretion, which includes the earnest
28.money; PLUS
29.2. FINANCING of O percent (%) of the sale price. Buyer shall, at Buyer's sole expense, apply for any
30.financing as required by this Purchase Agreement.
31.Such financing shall be: (Check one.) D a first mortgage; D a contract for deed; or D a first
32.mortgage with subordinate financing, as described in the attached Addendum to Commercial Purchase Agf'86ment:
33.D Conventlonal/SBA/Other D Contract for Deed.·--------(Chr,ckone..i--------
34.DUE DILIGENCE: This Purchase Agreement DIS 00 IS NOT subject to a due diligence contingency. (If answer Is IS,·--(ChllCk ons.)--
35.see attached Addendum to Commercial Purchase Agreement: Due Dll/gt1nce.)
36, CLOSING: The date of closing shall be on or before Apr11 13th
MNC:PA-1 (8/10)
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COMMERCIAL PURCHASE AGREEMENT
37.Page 2 Date .::B'eb-=z:u=a:::.ry.__ __ --=2-=-&th=----=2:..=:o=-20=---
3a. Pro perty located at ..:4-=.44.=..:1=-----.::C::::e=n-=t:r:::.::al.=-.:�::=.n==n:.::::u•=...=Nlil==-. ______ .....;:C;.;:;o=.:lumb==i=-a..:H;;.;:e;,:;:1.a.:gh:=.:t::::s'--_...::MN=.:...--=:55:.;4::.=2:.=1 __
39.DEED/MARKE TABLE TITLE: Subject to performance by Buyer, Seller agrees to execute and deliver a: (Check one.)
40.0 WARRANTY DE ED O LIMI TED WARRANTY DEED O CONTRACT FO R DE ED
41.[Kl OTHER: Spacial DEED conveying marketable title, subject to:
42.(a) building and zoning laws, ordinances, and state and federal regulations;
43.(b) restrictions relatlng to use or improvement of the Property without effective forfeiture provisions;
44.(c) reservation of any mineral rights by the State of Minnesota or other government entlty;
45.(d) utlllty and drainage easements which do not interfere with existing improvements; and
46.(e) others (must be specified in writing): ______________________ _
47.
48.TENANT Sl'LEASES: Property D IS IR:I IS NOT subject to rights oi tenants (ii answer is iS, see attached Addendum
-·--(Oheolc one.)---
49.to Commercial Purchase Agreement: Due Diligence).
50.Seller shall not execute leases from the Date of this Purchase Agreement to the date of closing, the term of which lease
51.extends beyond the date of closing, without the prior written consent of Buyer. Buyer's consent or denial shall be
52.provided to Seller within ________________ days of Seller's written request. Said consent
53.shall not be unreason ably withheld.
54.REAL ESTATE TAXE S: Real estate taxes due and payable In the year of closing shall be prorated between Seller and
55.Buyer on a calendar year basis to the actual date of closing unless otherwise provided in this Purchase Agreement.
56.Real estate taxes, including penalties, Interest, and any associated fees, payable In the years prior to closing shall be
57.paid by Seller. Real estate taxes payable in the years subsequent to closing shall be paid by Buyer.
58.SPECIAL ASSESSMENTS:
59.0 BUYER AND SELLER SHALL PRORATE AS OF THE DATE OF CL OSING 00 SELLER SHALL PAY-----------------�hBckDne.,>-----------------
60.on the date of closing all installments of special assessments certified for payment with the real estate taxes due and
61.payable In the year of closing.
62.0 BUYER SHALL ASSUME [Kl SE LLER SHALL PAY ON DATE OF CL O SING all other special assessments-------------(Cheokone .. ------------
63.levied as of the Date of this Purchase Agreement.
64.0 BUYER SHALL ASSUME Ii] SELLER SHALL PROVIDE FOR PAYMEN T OF special assessments pending as------------(Cheokone.�-----------
65.of the Date of this Purchase Agreement for Improvements that have been ordered by any assessing authorities . (Seller's
66.provision for payment shall be by payment into escrow of up to two (2) times the estimated amount of the assessments
67.or less, as allowed by Buyer's lender.)
68.Buyer shall pay any unpaid special assessments payable ln the year following closlng and thereafter, the payment of
69.which ls not otherwise here provided.
70.As of the Date of this Purchase Agreement, Seller represents that Seller D HAS [Kl HAS NOT received a notice---(Check one.)----·
71.regarding any new improvement project from any assessing authorities, the costs of which project may be assessed
72.against the Property. Any such notice received by Seller after the Date of this Purchase Agreement and before
73.closing shall be provided to Buyer Immediately. If such notice Is Issued after the Date of this Purchase Agreement
74.and on or before the date of closi ng, then the parties may agree In writing, on or before the date of closing, to pay,
75.provide for the payment of, or assume the special assessments. In the absence of such agreement, either party may
76.declare this Purchase Agreement canceled by written notice to the other party, or licensee representing or assisting the
77.other par ty, in which case this Purchase Agreement is canceled. If either party declares this Purchase Agreement
78.canceled, Buyer and Seller shall immediately sign a written cancellation of Purchase Agreement confirming said
79.cancellation and directing all earnest money paid here to be refunded to Buyer.
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COMMERCIAL PURCHASE AGREEMENT
80.Pa ge 3 Date _l'ab=r __ uar___.Y...__ __ _...,26;;..;th=-"""""'20""2aa.ao.__
81.Property located at 4441 C•ntral Avenue n Columbia Heights MN 55421
82.POSSESSION: Seller shall dellver possession of the Property: (Check one.)
83.00 IMMEDIATELY AFTER CLOSING; or
84.OOTHER: ___________________________ _
85.Seller agrees to remove ALL DEBRIS AND ALL PERSONAL PROPERTY NOT INCLUDED HERE from the Property
86.by possession date.
87.PR ORATION$: All Items customarily prorated and adjusted In connectlon with the closing of the sale of the Property
88.here including but not limited to rents, operating expenses, Interest on any debt assumed by Buyer, shall be prorated
89.as of the date of closing. It shall be assumed that Buyer will own the Property for the entire date of the closing.
90.RISK OF LOSS: If there Is any loss or damage to the Property between the Final Acceptance Date and the date of
91.closing, for any reason, the risk of loss shall be un Seller. If the Property is destroyed or substantiaiiy damaged before
92.the closing, this Purchase Agreement shall be canceled, at Buyer's option, If Buyer gives written notice to Seller, or Ucensee
93.representing or assisting Seller, of such cancellation within thirty (SO) days of the damage. Upon said cancellation,
94.Buyer and Seller shall immediately sign a written cancellation of Purchase Agreement confirming said cancellation and
95.directing all earnest money paid here to be refunded to Buyer.
96.EXAMINATION OF TITLE: Seller shall, at its expense, within 30 days after Final
97.Acceptance of this Purchase Agreement, furnish to Buyer, or licensee representing or assisting Buyer, a commitment
98.for an owner's policy of title insurance from Service Link , including levied (Name or Tltle company)
99.and pending special assessments. Buyer shall be allowed ten (10) days ("Objection Period") after receipt of the
100.commitment for title Insurance to provide Seller, or licensee representing or assisting Seller, with written objections.
101.Buyer shall be deemed to have waived any title objections not made within the Objection Period provided for Immediately
102.above and any matters with respect to which title objection is so waived may be excepted from the warranties 1n the
103.Deed as specified here to be delivered pursuant to this Agreement.
104.TITLE CORRECTIONS AND REMEDIES: Seller shall have thirty (30) days ("Cure Period") from receipt of Buyer's
105.written title objections to cure any title objections but shall not be obligated to do so. Upon receipt of Bu yer's title
106.objections, Seller shall, within ten (1 O) days, notify Buyer, or licensee representing or assisting Buyer, In writing whether
107.or not Seller will endeavor to cure such objections within the Cure Period. Liens or encumbrances for liquidated amounts
108.created by instruments executed by Seller and which can be released by payment proceeds of closing shall not delay
109.the closing.
110.If Seller's notice states that Seller will not endeavor to cure one or more specified objections within the Cure Period,
111.Buyer may, as its sole remedy, within ten (1 O) days of the sending of such notice by Seller, declare this Purchase
112.Agreement canceled by written notice to Seller, or licensee representing or assisting Seller, in which case this Purchase
113.Agreement Is canceled. If Buyer declares this Purchase Agreement canceled, Buyer and Seller shall immediately sign a
114.written cancellation of Purchase Agreement confirming said cancellation and directing all earnest money paid here to
115.be refunded to Buyer. If Buyer does not declare this Purchase Agreement canceled as provided Immediately above,
116.Buyer shall be bound to proceed with the closing and to purchase the Property subject to the objections Seller has
117.declined to cure without reduction In the Purchase Price.
118.If Seller's notice states that Seller will endeavor to cure all of the specified objections, or if Seller's notice states that
119.Seller will endeavor to cure soma, but not all, of the specified objections and Buyer does not declare this Purchase
120.Agreement canceled as provided above, Seller shall use commercially reasonable efforts to cure the specified objections
121.or those Seller has agreed to endeavor to cure and, pending correction of title, all payment required here and the
122.closing shall be postponed.
123.If Seller, within the Cure Period provided above, corrects the specified objections Seller's notice Indicated Seller would
124.endeavor to cure, then upon presentation to Buyer, or llcensee representing or assisting Buyer, of documentation
125.establlshing that such objections have been cured, the closing shall take place within ten (10) days or on the scheduled
126.closing date, whichever is later.
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128.Property located at 4441 Central A"nue NB
COMMERCIAL PURCHASE AGREEMENT
127.Page 4 Date -=-l'e-=b::.:r=-=ua=ry.__ __ ___,;;;2.;;;.6th.;;;;;;;..--=2:.:.0=-2O=--
c01wn1:11a Heights MN 55421
129.If Seller, within the Cure Period provided above, does not cure the specified objections which Seller's notice indicated
130.Seller would endeavor to cure, Buyer may, as its sole remedy, declare this Purchase Agreement canceled by written
131.notice to Seller, or licensee representing or assisting Seller, given within five (5) days after the end of the Cure Period,
132.in which case this Purchase Agreement is canceled. Buyer and Seller shall immediately sign a Cancellation of Purchase
133.Agreement confirming said cancellation and directing all earnest money paid here to be refunded to Buyer. Neither
134.party shall be flable for damages here to the other. In the alternative, Buyer may elect to waive such objections by
135.providing written notice to Seller, or licensee representing or assisting Seller, within such five (5)-day period and accept
136.title subject to such uncured objections, in which event, Buyer shall be bound to proceed with the closing and to purchase
137.the Property subject to the objections Seller has not cured without reduction In the Purchase Price. If neither notice is
138.given by Buyer within such five (5)wday period, Buyer shall be deemed to have elected to waive the objections and to
139.proceed to closing as provided in the Immediately preceding sentence.
140.!f tltla !s marketable, or !s made marketable as provided here, and Buyer defaults !n any of the agreements here,
141.Seller, in addition to any other right or remedy available to Seller here, at law or In equity may cancel this Purchase
142.Agreement as provided by either MN Statute 559.21 or MN Statute 559.217, whichever Is applicable, and retain all
143.earnest money paid here as liquldated damages.
144.If tltle is marketable, or is made marketable as provided here, and Seller defaults in any of the agreements here,
145.Buyer may, In addition to any other right or remedy available to Buyer here, seek specific performance within six
146.(6) months a fter such right of action arises.
147.REPRESENTATIONS AND WARRANTIES OF SELLER: The following representations made are to the best
148.of Seller's knowledge.
149.There is no action, litigation, investigation, condemnation, or other proceeding of any kind pending or threatened against
150.Seller or any portion of the Property. In the event Seller becomes aware of any such proceeding prior to closing, Seller
151.will promptly notify Buyer of such proceeding.
152.The Property is in compliance with all applicable provisions of all planning, zoning, and subdivision rules; regulations;
153.and statutes. Seller has obtained all necessary licenses, permits, and approvals necessary for the ownership and
154.operation of the Property.
155.Prior to the closing, payment in full will have been made for all labor, materials, machinery, fixtures, or tools furnished
156.within the 120 days immediately preceding the closing in connection with construction, alteration, or repair of any
157.structure on, or improvement to, the Property.
158.Seller has not received any notice from any governmental authority as to condemnation proceedings, or violation of
159.any law, ordinance, regulation, code, or order affecting the Property. If the Property is subject to restrictive covenants,
160.Seller has not received any notice from any person or authority as to a breach of the covenants. Any such notices
161.received by Seller shall be provided to Buyer immediately.
162.Seller has not executed any options to purchase, rights of first refusal, or any other agreements giving any person or
163.other entity the right to purchase or otherwise acquire any Interest In the Property, and Seller Is unaware of any options
164.to purchase, rights of first refusal, or other similar rights affecting the Property.
165.The legal description of the real property to be conveyed has been or shall be approved for recording as of the date
166.of closing.
167.If Seller Is an organized entity, Seller represents and warrants to Buyer that Seller is duly organized and is in good
168.standing under the laws of the State of Minnesota; that Seller is duly quallfled to transact business in the State of
169.Minnesota; that Seller has the requisite organizational power and authority to enter Into this Purchase Agreement and
170.the Selfer's closing documents signed by it; such documents have been duly authorized by all necessary action on
171.the part of Seller and have been duly executed and delivered; that the execution, delivery, and performance by Seller of
172.such documents do not conflict with or result In a violation of Seller's organizational documents or Bylaws or any judgment,
173.order, or decree of any court or arbiter to which Seifer is a party; and that such documents are valid and binding obligations
17 4. of Seller, and are enforceable In accordance with their terms.
MNC:PA-4 (8/18}
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COMMERCIAL PURCHASE AGREEMENT
175.Page 5 Date __ ret,=z:-u�a;y;.;..o... ___ .;;;;.2"'"6th�___,;;;2"""02;;;;..o;......
176.Proper ty located at 4441 Central Avenue Nm Columbia Heights NH 55421
177.Seller will indemnify Buyer, tts successors and assigns, against and will hold Buyer, its successors and assigns,
178.harmless from, any expenses or damages, including reasonable attor neys' fees, that Buyer incurs because of the
179.breach of any of the above representations and warranties, whether such breach is discovered before or after the date
180.of closing.
181.See attached Addendum to Commercial Purchase Agreement: Due Diligence, If any, for additional representations
182.and warranties.
183.REPRESE NTATIONS AND WAR RANTIES OF BUYER: If Buyer ls an organized entity, Buyer represents and warrants
184.to Seller that Buyer is duly organized and Is in good standing under the laws of the State of Minnesota; that Buyer Is
185.duly qualified to transact business in the State of Minnesota; that Buyer has the requisite organlzatlonal power and
186.authority to enter into this Purchase Agreement and the Buyer's closing documents signed by It; such documents
187.have been duly authorized by all necessary action on the part of Buyer and have been duly executed and delivered;
i 88. that the execution, delivery, anct perrormance by Buyer of such documents do not conflict with or result In a violation
189.of Buyer's organizational documents or Bylaws or any judgment, order, or decree of any court or arbiter to which Buyer
190.is a party; and that such documents are valid and binding obligations of Buyer, and are enforceable In accordance with
191.their terms. Buyer wlll Indemnify Seller, its successors and assigns, against and wlll hold Seller, its successors and
192.assigns, harmless from, any expenses or damages, Including reasonable attorneys' fees, that Seller incurs because
193.of the breach of any of the above representations and warranties, whether such breach is discovered before or after
194.the date of closing.
195.TIME IS OFTHE ESSENCE FOR ALL PROVISIONS OFTHIS CONTRACT.
196.CALCULATION OF DAYS: Any calculation of days begins on the first day (calendar or Business Days as specified)
197.following the occurrence of the event specified and Includes subsequent days (calendar or Business Days as specified)
198.ending at 11:59 P.M. on the last day.
199.BUSINESS DAYS: "Business Days" are days which are not Saturdays, Sundays, or state or federal holidays unless
200.stated elsewhere by the parties in writing.
201.DEFAULT: If ·Buyer defaults in any of the agreements here, Seller may cancel this Purchase Agreement, and any
202.payments made here, Including earnest money, shall be retained by Sel ler as liquidated damages and Buyer and Seller
203.shall affirm the same by a written cancellation. In the alternative, Seller may seek all other remedies allowed by law.
204.If Buyer defaults in any of the agreements here, Seller may terminate this Purchase Agreement under the
205.provisions of either MN Statute 559.21 or MN Statute 559.217, whichever Is appllcable.
206.If this Purchase Agreement is not canceled or terminated as provided here, Buyer or Seller may seek actual damages
207.for breach of this Purchase Agreement or specific performance of this Purchase Agreement; and, as to specific
208.performance, such action must be commenced within six (6) months after such right of action ar ises.
209.SUBJECT TO RIGHTS OF TENANTS, IF ANY, BU YER HAS THE RIGHT TO VIEW THE PROPERTY PRIOR TO
210.CLOSING TO ES TABLISH THATTHE PROPERTY IS IN SUBSTANTIALLY THE SAME CONDITION AS OF THE
211.DATE Of THIS PURCHASE AG REEMENT.
212.MET HAMPHETAMINE PRODUC TION DISCLOSURE:
213.(A Methamphetamlne Production Dlsclosure Is required by MN Statute 152.0275, Subd. 2 (m).)
214.1K] Seller is not aware of any methamphetamine production that has occurred on the Property.
215.D Seller Is aware that methamphetamlne production has occurred on the Property.
216.(Sae Disclosure Statement: Methamphetamlne Production.)
217.NO TICE REGARDING AIRPORT ZONING REGULATIONS: The Property may be In or near an airport safety zone
218.with zoning regulations adopted by the governing body that may affect the Property. Such zoning regulations are
219.flied with the county recor der In each county where the zoned area Is located. If you would like to determine If such
220.zoning regulations affect the Property, you should contact the county recorder where the zoned area Is located.
221.NO TICE REGAR DING PREDATORY OFFENDER INFOR MATION: Information regarding the predatory offender
222.registry and persons registered with the predatory offender registry und er MN Statute 243.166 may be
223.obtained by contacting the local law enforcement offices In the community where the Property Is located
224.or the Minnesota Department of Corrections at (651) 361-7200, or from the Department of Corrections web
225.site at www.corr.state.mn.us...JI �· N ,1 .. s o T .,c.
MNC:PA-5 (8/19)� ttEALTOR::,
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COMMERCIAL PURCHASE AGREEMENT
226.Page 6 Date .::.l';::eb;;.:ru=ar;;,,1Y......_ __ ..;;2:..::6;.;;th::...._..;;2:..::0:.::.2.:;.0 _
227.Property located at 4441 Central Avenue NE Columbia Heights MN 55421
228.DISCLOSURE NOTICE: If this Purchase Agreement Inc ludes a structure used or Intended to be used as residential229.property as defined under MN Statute 513.52, Buyer acknowledges Buyer has received a Disolosure Statement: Seller's230.Property Disclosure Statement or Disclosure Statement: Seller's Disclosure Alternatives form.
231.(Check appropriate boxes.)232.SELLER WARRANTS THAT THE PROPER1Y IS EITHER DIRECTLY OR INDIRECTLY CONNECTED TO:
233.CITY SEWER 00YES O NO / CITY WATER 00YES O NO
234.SUBSURFAC E SEWAGE TREATMENT SYSTEM
235.SELLER O DOES lR] DOES NOT KNOW OF A SUBSURFACE SEWAGE TREATMENT SYSTEM ON OR SERVING
---1'Cfleck 0/16 •. ---236.THE PROPER1Y. (If answer is DOES, and the system does not require a state permit, see Disclosure Statement:237.Subsurface Sewage Treatment System.)
238.PRIVATE WELL
238.SEU.ER O DOES!l] DOES NOT KNOW OF A WELL ON OR SERVING THE PROPERTY. {If answer is DOES and well---(Checkone .. 1----
240.is located on the Property, see Disclosure Statement: Well.)
241.To the best of Seller's knowfedge, the Property D IS Iii IS NOT in a Special Well Construction Area.·--·(Oheck onfl.}---
242.THIS PURCHASE AGREEMENT O IS 1K] IS NOT SUBJECT TO AN ADDENDUM TO PURCHASE AGREEMENT:----(Check ans.)----· 243.SUBSURFACE SEWAGE TREATMENT SYSTEM AND WELL INSPECTION CONTINGENCY.244.(If answer is IS, see attached Addendum.)
245.IF A WELL OR SUBSURFACE SEWAGE TREATMENT SYSTEM EXISTS ON THE PROPERTY, BUYER HAS246.RECEIVED A DISCLOSURE STATEMENT:WELLANDIOR A DISCLOSURE STATEMENT: SUBSURFACE SEWAGE247.TREATMENT SYSTEM,
248.There O 1s_[I�� '!i�r��orage tank located on the Property that ls subject to the requireme nts of MN Statute 116.48.
249.(It answer Is IS, see Commercial Disclosure Statement: Storage Tank(s).)
250.
251.Mary Mensah
(Ltcensae)
252.RE/MAX Results
(Reel Estate Company NIUTle)
253.�eter T Beryla/John M Roolcwell
(Ucensee)
254.U/MAX Synergy
(Real Estate Company Name)
AGENCY NOTICE
is 00 Sel le r's Agent D Buyer"s Agent D Dual Agent D Facllltator. ---------i(Checkone,,)..---------
is D Seller's Agent I!] Buyer's Agent O Dual Agent D Facilitator. ---------t'Checkons.1----------
255.DUAL AGENCY DISCLOSURE: Dual agency occurs when one broker or salesperson represents both parties to a258.transaction, or when two salespersons flcensed to the same broker each represent a party to the transaction. Dual257.agency requires the Informed consent of all parties, and means that the broker or salesperson owes the same fiduciary258.duties to both parties to the transaction. This role limits the level of representation the broker and salespersons can259.provide, and prohibits them from acting exclusively for either party. In dual agency, confidential Information about price,260.terms, and motivation for pursuing a transaction will be kept confldentlal unles s one party Instructs the broker or261.salesperson in writing to disclose specific information about him or her. Other Information w ill be shared. Dual agents
262.may not advocate for one party to the detriment of the other.
MNC:PA-6 (8119)
1-.A---L---, •.
COMMERCIAL PURCHASE AGREEMENT
263.Page 7 Date '""ll'.;;aeb""r"""u""'ary...._ ___ ,;;;;.2�6th;;;;;;........::;:2"""02:a..:o;...._
264.Property located at 4441 Central Avenue NB Columbia Haight• NH 55421
265. CONSENTTO DUAL AGENCY
266.Broker represents both parties involved in the transaction, which creates a dual agency. This means that Broker and
267.Its salespersons owe fiduciary duties to bo1h parties. Because the parties may have conflicting interests, Broker and Its
268.salespersons are prohibited from advocating exclusively for either party. Broker cannot act as a dual agent In this
269.transaction without the consent of both parties. Both parties acknowledge that
270.(1) confidential Information communicated to Broker which regards price, terms, or motivation to buy, sell, or lease will
271.remain confidential unless the parties Instruct Broker In writing to disclose this Information. Other Information will
272.be shared;
273.(2) Broker and Its salespersons will not represent the Interest of either party to the detriment of the other; and
274.(3) within the llmlts of dual agency, Broker and Its sa lesperson will work diligently to facilitate the mechanics of the
275.sale.
276.With the knowledge and understanding of the explanation above, the parties authorize and Instruct Broker and its
277.salespersons to act as dual agents In this transaction.
278.SELLER: (Business Entity or lndlvldual Name)
279.By: (Seller's Signature)
280. (Seller's Printed Nqme)
281.Its:(TIUe)
282. (Date)
283.SELLER: (Buslneas Entity or lndlvldual Name)
284.By; (Seller's Signature)
285. (SeDer's Printed Name)
286.Its:(Tnle)
287.
(Dale)
BUYER: Colwnb1a S.igbt:• meonomio Develop11111nt: Author1t:y
(Business Entity or lndMdual Namel
By; ________________ _ (Buyer's Signature)
(Buyer's Printed Name)
Its: ______________ _ (lltle)
(Date)
BUYER: _____________ _ (Business Entity or lndlvldual Name)
By: ______________ _ (Buyer's Signature)
(Buyer's Printed Name)
Its: _______________ _ (fltle)
(Date)
288.SUCCESSORS AND ASSIGNS: All provisions of this Purchase Agreement shall be blnding on successors and assigns.
289.CLOSING COSTS: Buyer or Seller may be required to pay certain cl osing costs, which may effectively Increase the
290.cash outlay at closing or reduce the proceeds from the sale.
291.FOREIGN INVESTMENT IN REAL PROPERTY TAX ACT ("FIRPTA •): Section 1445 of the Internal Revenue Code
292.provides that a transferee ("Buyer'') of a United States real property Interest must be notified in writing and must withhold
293.tax If the transferor C-Seller") Is a foreign person and no exceptions from FIRPTA withholding apply. Buyer and Seller
294.agree to comply with FIRPTA requirements under Section 1445 of the Internal Revenue Code.
295.Seller shall represent and warrant, under the penalties of perjury, whether Seller is a "foreign person•• (as the same
296.Is defined within FIRPTA), prior to closlng. Any representations made by Seller with respect to this Issue shall sur vive
297.the closing and deliver y of the deed.
·29a. Buyer and Seller shall complete, execute, and deliver, on or before closing, any instrument, affidavit, or statement
299.reasonably necessary to comply with the FIRPTA requirements, inoludlng delivery of their respective federal taxpayer
300.identification numbers or Social Security numbers.
MNC:PA•7 (8/19)
·-�l.---1.·----...
COMMERCIAL PURCHASE AGREEMENT
301.Page 8 Date .;;:.r.;::;;eb;:;.:;.ru=•:Y;;;;... ___ ;;;;,26""'t""'h'---=-2""'02:.::o,__
302.Property located at 4441 Central Avenue NE Columbia Heights MN 55421
303.Due to the complexity and potential risks of failing to comply with FIRPTA, Including the Buyer's responsibility for
304.withholding the applicable tax, Buyer and Seller should seek appropriate legal and tax advice regarding FIRPTA
305.compllance1 as the respective llcensees representing or assisting either party will be unable to assure either
306.party whether the transaction Is exempt from FIR PTA withholding requirements.
307.NOT E: MN Statute 500.221 establishes certain restrictions on the acquisition ot title to agricultural land by aliens and
308.non-American corporations. Please seek appropriate legal advice If this Purchase Agreement Is for the sale
309.of agrlcultural land and Buyer Is a foreign person .
310.ACCEPTANCE DEADLIN E: This offer to purchase, unless accepted sooner, shall be withdrawn at 11 :59 P.M.,
311.-------------, and In such event all earnest money shall be returned to Buyer.
312.CONDEMNATION: If, prior to the closing date, condemnation proceedings aie commenced against a.ii or any part
313.of the Property, Seller or licensee representing or assisting Seller, shall Immediately give written notice to Buyer, or
314.licensee representing or assisting Buyer, of such fact and Buyer may, at Buyer's option (to be exercised within thirty (30)
315.days after Seller's notice), declare this Purchase Agreement canceled by written notice to Seller or licensee representing
316.or assisting Seller, in which case this Purchase Agreement is canceled and neither party shall have fur ther obligations
317.under this Purchase Agreement. In the event Buyer declares the Purchase Agreement canceled, Buyer and Seller
318.shall immediately sign a written cancellation confirming such cancellation and directing all earnest money paid
319.here to be refunded to Buyer. If Buyer fails to give such written notice, then Buyer shall be bound to proceed with
320.closlng, subject to any other contingencies to this Purchase Agreem ent . In such event, there shall be no reduction In
321.the purchase price, and Seller shall assign to Buyer at the closing date all of Seller's rights, title, and interest in and to
322.any award made or to be made in the condemnation proceedings. Prior to the closing date, Seller shall not designate
323.counsel, appear In, or otherwise act with respect to, the condemnation proceedings without Buyer's prior written consent.
324.MUTUAL INDEMNIFICATION: Seller and Buyer agree to indemnify each other against, and hold each other harmless
325.from, all llab!Utles (Including reasonable attorneys' fees in defending against claims) arising out of the ownership,
326.operation, or maintenance of the Property for their respective periods of ownership. Such rights to indemnification will
327.not arise to the extent that (a) the party seeking indemnification actually receives insurance proceeds or other cash
328.payments directly attributable to the llablllty In question (net of the cost of collection, lncluding reasonable attorneys'
329.fees); or (b) the claim for indemnification arises out of the act or neglect of the party seeking indemnification. If, and
330.to the extent that, the Indemnified party has Insurance coverage, or the right to make claim against any third party for
331.any amount to be Indemnified against, as set forth above, the indemnified party will, upon full performance by the
332.Indemnifying party of Its Indemnification obligations, assign such rights to the indemnifying party or, If such rights are
333.not assignable, the indemnified party will dlligently pursue such rights by appropriate legal action or proceeding and
334.assign the recovery and/or right of recovery to the Indemnifying party to the extent of the indemnification payable made
335.by such party.
336.ENTIRE AGREEMENT: This Purchase Agreement and any addenda or amendments signed by the parties shall
337.constitute the entire agreement between Buyer and Seller. Any other written or oral communication between Buyer and
338.Seller, Including, but not limited to, e-malls, text messages, or other electronic communications are not part of this
339.Purchase Agreement. This Purchase Agreement can be modified or canceled only In writing signed by Buyer and
340.Seller or by operation of law. All monetary sums are deemed to be United States currency for purposes of this Purchase
341.Agreement.
342, ELECTRONIC SIGNATURES: The parties agree the electronic signature of any party on any document related to this
343.transaction constitute valid, binding signatures.
344.FINAL ACCEPTANCE: To be binding, this Purchase Agreement must be fully executed by both parties and a copy
34 5.must be delivered.
346.SU RVIVAL: All warranties and representations In this Purchase Agreement shall survive the de!lvery of the deed or
347.contract for deed and be enforceable after the closing.
348.DATE OF THIS PURCHASE AGREEMENT: Date of this P urchase Agreement to be defined as the date on line one
349.(1) of this Purchase Agreement.
MNC:PA-8 (8/19)
1.P",.,_ __ .. 1.-... � ...
COMMeRCIAL PURCHASE AGRBEMENT
S50. Page 9 Datt l91\911X lft;h ao20
CloJ.'!!!M .. !f!l@ •'8�11 . ,
862.OTHER: --------------------------
86 S, ----------------------------
864.----------------------------
886, A)J6&NDA1 Attaohad addenda are a part of Ulla Purohue Agreemtnt.
S68. l!f 1t oheoked, thla Purohaee A,greement r, eubJeoUo857.attached Add1ndum fo Commsrolal Pur(lh•••868.Agtnmtnt: Cauntslafttr..ase. FIRPTA: Btller 1'$pl8Nnts and wananta, under penattv eeo. of pe�1.uy, thatBenerp���atorelgn peraon (I.e., a
881.non•realdent alien lndtvldual. foreign oorporatlcn, toretgn882, partnerehl.Pt foreign tMt, or foreign eatcta tor purpo1ea888, dfnoometaicatlon,(Seslln#B91-809.))Thl8repn,sentallon864.and wamnty ehall eurvlve the oloslng of the traneaol!on885.and lhe dellVetY of the deed.
888, 81!1..1..EFI
88'7, -----�--------(llualned linUl.l' l)f l!Xtlvklull Nallli)
368.Bv:------------(lllilllol't Slnotull)
889,
370, lts:-----------
871.--------------{Dalll)
872.U!LLIR
878.---���-------(DuelnNI En111V or111dMd1111I Naulw)
S14. By; ___________ _
(Mln,fllGI\IIIUN)
876.
BUYBA
<Pu}
8UVIR
(blr/ll'tPlftl\ldH«me)
876, lm:-----------(l'ale) tw.��----------(TIDD) an.-------------_, (Dita)
978, l'INALACCBPTANOI DATB=--------------The Final Aooeptance Date B79. ta the date on whloh 1he ful\V axeouted Pl.ll'Ohue Agreement la delivered.
880, THIS 18 A Ll!GAUY BJNDM CONTflACT Sl'IW!Eff BUVl!R(8) AND 8ELLl!R(S). 881.n=vou Df!Blml LEGAL ORTAX ADVICS, CON8Ul.T AN APP.ROPFUAT! PROPl8910NAL
882.1Hl8 WNN!SO'TA A880CIATION OF RIALTOR8e COIIIMl!RCIAL PURCHAII! AGRBBMSNT 18 NOT888.Dl!SIGNE!DTO BE AND 19 NOl'WARRANTl!DTO Be INCWIIVI! OF ALL 188Ul!8 81!W!iR AND BUYER884.MAY WISH TO ADDRESS, AND lmtER PARTY MAYWl8HTO MODIPVTHIS PURCHASE AGR&MIN'l'886.TO ADDRSSS ITATUTORV OR CONTRACTUAL MAfflR8 NOi' CONTAINBD INTHl8 FORM.888, DOTH PAR1118 ARl!ADVISEDTO 8EBKTHE ADVICE OF AN AT1'0RNl!YTO BNSURI!
�PA-t (&'i9)
THII CONTRACT ADl!QUATBLV ADDRB8Sli8THAT PARTY'S l'IIOHT8, ,JJt�il(L!fdfiS
...... -..... , ....
'Rl:/MAX • Synergy
ADDl!NDUM TO COMMERCIAL PURCHAIIMRIEMENT '1111a form lqlJll'OWd by lie M!MuotaA.hoolAtfon of AIALTOIW1 whloh cbal&lknl 8"' liability irllllng Ott of uat or mlaustot tia fOrm. 02018 Mlnnl801a AIM!Odatlcln of R� Sdlna. MN
1.Date , ,!f:!)l;,;uYf lfth.c 8020
2.�ge1
s.Addendum to Purohua Agreement between partlee1 datGtf __ rg......,u.._,n..._ _____ 1 __ , __ th ______ a __ o .... a!L-,
4.pertaining co the purohaae and aale of the Property at f Hl RIBW :l!!n.'I• @
8.,AP:lw!HI B!lPM M!
8. 7.
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20.
21,
22.
28.
24.
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28.
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SELLER BUVIIA
(B1111nnte -OI' ll\ll'ftllUDJ NlldTII)
aolulllbia !!L9'lta !s,01tomt.o Pf!!:\Oe!!t �»l.!m'..
IJJuelnoaa l!lnll\torlndi'vfdujlfNlll'1e)
By; Br,��'""
(Nol') :;� {�e,t,'h� 7:>;�nzr: lte: (11tkl) (Tile)
.� .. :t'1--i.o'2.Q' U.-) (0,i.}
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(BudneeJEnlR'J or llldMdull Nmllll)(Bl.ailnea-otfnd!Vlul NIIMI)
By•
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'l1-l8 18 A LECIAU..Y BINDING CONTRACT BSTWEi&t4 BUYBR(8) AND 8&LI.BR(8), IPVOU DESIRE LIQAL ORTAX ADVIC!, CONSULT AN APPROPAIATI PROF688IONAL..
J.4N.AOPA (11119)
Internet fraud -the uie of lntemet servtoes or eoftware with Internet aooese to defraud victims -le on the rise In real estate transacttona. THESE SOPHISTICATED CRIMINALS COULD: •HACK INTO YOUR ta,.MAIL ACCOUNT or the e..rnal! of othei'&Involved tn your real estat.e traneaotlon and may direct you to wiremoney to the ha�r's account,•SEND FRAUDULENT !-MAILS that appear to be from your realestate licensee, lender, or oloelng agent.•CALL YOU claiming they have revleed wiring lnstructlona.
Buyers/Tenants and Seller8/0wnera are adVlsed to:
(1)Never wire funds without oonflrmtng the wiring Instructions dlt'GOtly with the Intended reolptent.
(2) Verify that the contact lnfonnatton for the wire transfer recipient le legltlmate by oalllng a knownphone number for the broker or closlng agent. Do not rely on the Information given to you In an e-mail communtcatlon.
(3) Never eend pel'80nal lnfonnatlon through unseoured/Unenorypted e"fflalJ.
It you suspect wire fraud In vour tranaactlon1
(1)Immediately notry your bank, Cloefng agent and real estate lloansee.
(2)FIie a complaint onllne at the Internet Crime-COmplalnt Center (ICS) at http://www.lc3.goy,
The underatgned aoknoWledge receipt of thla wire fraud alert and underetand the Importance Of taking proactive meaeures to avoid being a vlotlm of wire fraud tn a real estate 1ranee.ctk>n.
ACKNOWLEDGEMENT AND CERTIFICATION
OF PROSPECTIVE PURCHASER(S)
RE: REO No.: ()0 /{, 20 > S-77
Property address: rf Lftfl &nfv-a,,l A-v� Ale
�t>/vllfA-b�� /1-e,�-fS
1 /lit/ti '>7>'-I� f
The undersigned hereby understands and acknowledges that:
Employees or directors of JPMorgan Chase & Co. and its direct and indirect subsidiaries
are strictly prohibited from directly or indirectly purchasing any property owned or serviced
by or on behalf of JPMorgan Chase & Co. or its direct and indirect subsidiaries.
Purchaser:
Signature:
Print Name:
Date:
Purchaser:
Signature:
Print Name:
Date:
Aulhentieign ID: DA734453-1BAC-45B2-9EF2-71DEA77E4EFB
ADDENDUM TO CONTRACT -Select Portfolio Servicing
Street Address: 4441 CENTRAL AVE NE , COLUMBIA HEIGHTS, MN 55421
Property #: 0016205577 Seller: Deutsche Bank National Trust Company, as Trustee, on behalf of the holders of the J.P. Morgan Mortgage Acquisition Trust 2007-CHS Asset Backed Pass-Through Certificates, Serles 2007-CHS Buyer(s): Columbia Heights Economic Development Authority
Date: 3/11/2020
Accepted Offer Details
Item Detall
Offer/Addendums No Signed
Reason For Investor Purchase
Offer Price $125,250
Closing Date 4/17/2020
Initial Earnest $5,000 Money
Earnest Money in Cashier
form of check
Per Diem Rate $100
Attorney No Contingency
lnspection(s) No Contingency
Mortgage No Contingency
Cash Offer Yes
Proof of Funds No
Mortgage Pre-
Approved
Mortgage
Conditions
Loan Type
Item
Loan Down Payment
Loan Amount
Buyer's points/$
Buyer Termite Report cost credit
Buyer Home Protection Plan cost credit
Buyer FHNVA cost credit as amount
Concession #1: Buyer accepts property in AS IS condition holding
seller harmless from future claims, damages, and losses.
Concession #2: Only those utilities currently on will be on for
inspections.
Concession #3:
Concession #4:
Buyer premium:
Select Portfolio Servicing, Inc.
Addendum to Real Estate Purchase Contract
Detail
No
No
LOAN No.: Refer to Property#:
NOTICE: The property that is the subject of this Addendum is subject to prior sale or withdrawal from the market at any time, without notice, and Select Portfolio Servicing, Inc. reserves the right to consider and reject any and all offers received for the property. Any offer to purchase must be based solely on the purchaser's own investigation and no representations or warranties will be made by Select Portfolio Servicing, Inc. except as may be provided in this Addendum, and any sale will be subject to the terms and conditions of this Addendum.
THIS ADDENDUM TO REAL ESTATE PURCHASE CONTRACT ("Adden dum") is made a part of, and incorporated into, that certain Real Estate Purchase Contract dated the [Refer to Date] ("Contract") between Seller and Purchaser with regard to the Property (as such terms are defined below). This Addendum and the Contract are sometimes herein referred to collectively as the "Agreement.•
"Seller" Name: Select Portfolio Servicing, Inc., as attorney-in-fact
"Purchaser" Name:
"Property'' address:
Closing Date:
Purchase Price:
[Refer to BuY,er(�)]
[Refer to Street Address]
[Refer to Closing�]
[Refer to Offer Price]
Authentlslgn 10: DA734453-1BAC-4582..&EF2-71DEA77E4EFB
Lead Paint Disclosure: Does the Property include a residential dwelling built prior to 1978? Check One <lf._) Yes: L__) No. If yes. the
parties must complete the attached Disclosure Of Information On Lead-Based Paint and/or Lead-Based Paint Hazards.
FOR GOOD AND VALUABLE CONSIDERATION, the receipt and sufficiency of which are hereby acknowledged, Seller and Purchaser agree as
follows:
1.Not Binding Until Accepted By Seller. Notwithstanding any verbal acknowledgment by Seller or any agent of Seller, Purchaser
acknowledges and agrees that the Agreement is not binding on Seller unless and until approved by Seller's management and this Addendum is
executed by al parties. The date of execution by SeUer of this Addendum shall be referred to herein as the "Seller Acceptance Date.• Notwithstanding
Seller's acceptance, Purchaser acknowledges and agrees that the Property is subject to prior sale or withdrawal from the mari<et by Seller at any time,
without notice, and Seller reserves the right to consider and reject any and all offers received for the Property including Purchaser's offer.
2.Purchase Price. The purchase price for the Property shall be paid to Seller in immediately available funds {cashier's check, certified check
or wire transfer) at the Closing {defined below).
3.Earnest Money. Immediately following Seller's acceptance of the Agreement, escrow will be opened by both parties with an escrow agent designated by Seller or otherwise acceptable to Seller. The Earnest Money deposit shan be deposited within three days into the closing firms escrow
account in accordance with the terms of the sales contract and statutory requirements. The Earnest Money shall be equal to the greater of {A) amount
negotiated by the parties, {B) 3% of the Purchase Price or (C) $1,000. [Refer to Earnest Money) to Listing Agreement and Escrow Agent.
4.Time of the Essence; Closing Date.
(a)Subject to Seller's right to extend the Closing Date (defined below), the parties agree that time is of the essence with respect to all dates
specified herein, and Purchaser's performance under the Agreement and any addenda, riders or amendments thereto.
(b) The closing of the purchase and sale of the Property {"Closing') shall be held in the offices of Seller's attorney or agent, or at a place
designated and approved by Seller, unless otherwise required by applicable law. The date of the Closing [Refer to Closing Date} shall take place on
or before the date set forth [Refer to Closing Date], or within five (5) days of final loan approval by Purchaser's lender, whichever is ear1ier, unless the
Closing Date Is extended in a writing signed by Seller and Purchaser pursuant to Section 4(c) or otherwise extended by Seller under the terms of
Section 19 of this Addendum. If the Closing does not occur by the Closing Date, or in any written extension, the Agreement shall automatically
tem,inate and Seller shall retain any Earnest Money as liquidated damages.
(c) In the event Purchaser requests an extension of the Closing Date (which request shall be made in writing) and the Seller agrees to the
extension, Purchaser shall pay to Seller a per diem extension fee ("Extension Fee") in the amount of [Refer to Per Diem] for each calendar day
through and Including the Closing Date specified in the written extension agreement. The Extension Fee shall be deposited in immediately available
funds (cashier's check, certified check or wire transfer) with Seller or other party designated by Seller at the time of Purchaser's request to extend the
Closing Date. Purchaser acknowledges and agrees that Seller will incur carrying costs related to any extension of the Closing Date and accordingly
that the Extension Fee shall not be credited to Buyer at Closing and shall be in addition to the Purchase Price. The Extension Fee shall be
nonrefundable to Purchaser except in the event Seller terminates the Agreement pursuant to Section 19.
5. Financing Contingency. Purchaser's obligation to purchase the Property under the Agreement: �or IS NOT contingent [Refer to Mortgage
Contingency] on Purchaser obtaining financing for the purchase of the Property.
(a)If Purchaser's obligation to purchase the Property is contingent on financing, Purchaser shall apply for and diligently pursue thereafter a loan
at prevailing rates, terms and conditions. Purchaser shall complete and submit to a mortgage lender an application for a mortgage loan prior to the
Seller's Acceptance of the offer. Purchaser shall use diligent efforts to obtain a mortgage loan commitment within the time period.
[Refer to Mortgage Contingency] of the date of Sellar Acceptance Date. If, despite Purchaser's diligent efforts, Purchaser cannot obtain a mortgage
loan commitment within the specified period, then either Purchaser or SeHer may terminate the Agreement by giving written notice to the other party. In
the event of a proper and timely termination of the Agreement under this Section S(a), the Earnest Money shall be returned to Purchaser and the
parties shall have no further obligation to each other under the Agreement.
(b)Purchaser shall ensure that the lender selected by Purchaser to finance the sale shall provide applicable funding to the settlement agent
selected by Seller on or before the date of settlement. Purchaser shall further ensure that the selected lender shall provide all lenders prepared closing
documentation to the settlement agent no later than 48 hours prior to settlement or such ear1ier date as required by law. Purchaser acknowledges and
agrees that Purchaser shall be in default under Section 20 of this Addendum if Purchaser's lender fails to fund and/or provide closing documentation
as required by this Section 5(b) and that any extensions to Closing shall be subject to the provisions of Section 4(c) of this Addendum,
6. Inspection.
(a) On or before [Refer to Inspection Contingency Date] of the SeUer Acceptance Date, Purchaser shaU inspect the Property or
obtain for its own use, benefit and reliance, inspections and/or reports on the condition of the Property; otherwise, Purchaser shall be deemed to have waived such Inspection and any objections to the condition of the Property and to have accepted the condition of the Property for all
purposes. Purchaser shall keep the Property free and clear of liens and indemnify and hold Seller harmless from all liability, claims, demands,
damages, and costs, including attorney and paralegal fees, related to Purchaser's inspection. Purchaser shall promptly repair all damages arising from
or caused by the inspections.
{b) Purchaser shall not directly or indirectly cause any inspection to be made by any government building or zoning Inspector or government
employee without the prior written consent of Seller, unless such Inspection is required by law. In any event, Purchaser shall provide written notice to
Seller prior to any inspection to be m ade by any government building or zoning inspector or government employee.
(c)If Seller has winterized the Property and Purchaser desires to have the Property inspected, the listing agent will, with Seller's prior consent,
have the Property de-winterized prior to inspection and re-winterized after inspection. . (d) Within three (3) calendar days of receipt of any
inspection report prepared by or for Purchaser, but not later than {the expiration of the [Refer to Inspection Contingency Date], whichever first
occurs, Purchaser will provide written notice to Seller of any disapproved items. Purchaser's faRure to provide written notice shall be deemed as acceptance of the condition of the Property. Upon request by Seller, Purchaser shall provide to Seller, at no cost, complete copies of all inspection
reports upon which Purchaser's disapproval of the condition of the Property Is based. In no event shall Seller be obligated to make any repairs or
replacements whatsoever that may be indicated in Purchaser's inspection reports. Seier may, in its sole discretion, make such repairs to the Propertyunder the terms described in Section 8 of this Addendum. If Seller elects not to repair the Property, Purchaser may cancel the Agreement not later than
three (3) calendar days from the Sellers notification of election not to repair the property and the Earnest Money shall be returned to Purchaser. If
Seller elects to make any such repairs to the Property, Seller shall notify Purchaser after completion of the repairs and Purchaser shall have three (3)
Aulhentlslgn ID: DA734453-1BAC-45B2-l!EF2-71DEA77E4EFB
calendar days from the date of notice to inspect the repairs and notify Seller of any disapproved items. Purchaser's failure to disapprove in writing such repairs shall be deemed as Purchaser's acceptance thereof.
(e)In situations that are applicable, a structural, electrical, mechanical or termite inspection report may have been prepared for the benefit ofSeller. Upon request, Purchaser will be allowed to review the report to obtain the same information and knowledge Seller has about the condition of theProperty but Purchaser acknowledges that the inspection reports were prepared for the sole use and benefit of Seller. Purchaser shall not rely upon
any such inspection reports obtained by Seller in making a decision to purchase the Property.
(f ) If the Property is a condominium or planned unit development or co-operative, unless otherwise required by law, Purchaser, at Purchaser's
own expense, is responsible for obtaining and reviewing the covenants, conditions and restrictions and bylaws of the condominium, the planned unit development or the cooperative within seven (7) days of the Seller Acceptance Date. Seller agrees to use reasonable efforts, as detenmined in Seller's sole discretion, to assist Purchaser in obtaining a copy of the covenants, conditions and restrictions and bylaws. Purchaser will be deemed to have accepted the covenants, conditions and restrictions and bylaws if Purchaser does not notify Seller in writing, within ten (10) days of the Seller Acceptance Date, of Purchaser's objection to the covenants, conditions and restrictions and/or bylaws.
(g)This Section 6(g) shall govern and apply if the Property includes a residential dwelling built prior to 1978. The parties agree to execute anddeliver the attached DISCLOSURE OF INFORMATION ON LEAD-BASED PA INT AND/OR LEAD-BASED PAIN T HAZARDS. Unless Purchaser haswaived the right to conduct an inspection, !he following shall apply:
OPPORTUNITY TO CONDUCT A LEAD PAINT RISK ASSESSMENT OR INSPECTION
Purchaser's obligation to purchase the Property is conditioned upon Purchaser's approval of a risk assessment or inspection of the Property for the presence of IP.Rn-based paint and/or lead-based paint hazards. The r!s!-: assessment or inspection ("Risk Assessment") of the Property shall be paid for by Purchaser and shall be conducted by individuals or entities of Purchaser's choice. Seller shall cooperate in making the Property available for the Risk Assessment. The deadline for Purchaser to complete and review the Risk Assessment ("Risk Assessment Deadline") shall be ten (1 O) calendar days after Seller Acceptance Date.
If the results of the Risk Assessment are not acceptable to Purchaser, Purchaser may either (a) provide written objections to Seller as provided in Section 6 of this Addendum; or (b ) immediately cancel the Agreement by providing written notice of cancellation to Seller by the Risk Assessment Deadline, together with a copy of the Risk Assessment report. Upon receipt of a copy of Purchaser's written notice of cancellation, the Earnest Money shall be returned to Purchaser.
If Purchaser does not immediately cancel the Agreement as provided above, Purchaser may, by the Risk Assessment Deadline, provide Seifer with
written objections and a copy of the Risk Assessment report. Purchaser and Seller shall have seven (7) calendar days after Seller's receipt of the objections (the ·Response Period") in which to agree in writing upon a manner of resolving Purchaser's objections. Seller may, but shall not be required to, resolve Purchaser's objections.
If Purchaser and Seller have not agreed in writing upon the manner of resolving Purchaser's objections, Purchaser may cancel the Agreement by providing written notice to Seller no later than three (3) calendar days after expiration of the Response Period. Upon receipt of a copy of Purchaser's written notice of cancellation, the Earnest Money shall be returned to Purchaser.
If Purchaser does not deliver a written objection to Seller regarding the results of the Risk Assessment, or cancel the Agreement, any objections to the results of the Risk Assessment shall be deemed waived by Purchaser and Purchaser shall take the Property "AS-IS" with regard to any lead-based paint or lead-based paint hazards that may be present in the Property.
7.Condition of Property. PURCHASER ACKNOWLEDGES AND UNDERSTANDS THAT SELLER ACQUIRED THE PROPERTY BYFORECLOSURE. DEED IN LIEU OF FORECLOSURE, FORFEITURE, TAX SALE, RIGHT OF EMINENT DOMAIN OR SIMILAR PROCESS, ANDSELLER CONSEQUENTLY HAS NO DIRECT KNOWLEDGE CONCERNING THE CONDITION OF THE PROPERTY. AS A MATERIAL PART OF THE CONSIDERATION TO BE RECEIVED BY SELLER UNDER THIS AGREEMENT AS NEGOTIATED AND AGREED TO BY PURCHASER ANDSELLER, PURCHASER ACKNOWLEDGES AND AGREES TO ACCEPT THE PROPERTY IN "AS-IS," "WHERE-JS" CONDITION AT THE TIME OFCLOSING, INCLUDING, WITHOUT LIMITATION, ANY HIDDEN DEFECTS, ENVIRONMENTAL CONDITIONS AFFECTING THE PROPERTY, OR THE EXISTENCE OF MOLD (AS DEFINED BELOW), WHETHER KNOWN OR UNKNOWN, WHETHER SUCH DEFECTS OR CONDITIONS WEREDISCOVERABLE THROUGH INSPECTION OR NOT. PURCHASER ACKNOWLEDGES THAT SELLER, ITS AGENTS AND REPRESENTATIVESHAVE NOT MADE, AND SELLER SPECIFICALLY NEGATES AND DISCLAIMS ANY REPRESENTAT IONS, WARRANTIES, PROMISES,COVENANTS, AGREEMENTS OR GUARANTIES, IMPLIED OR EXPRESS, ORAL OR WRITTEN IN RESPECT TO:
(a)THE PHYSICAL CONDITION OR ANY OTHER ASPECT OF THE PROPERTY, INCLUDING THE STRUCTURAL INTEGRITY OR THEQUALITY OR CHARACTER OF MATERIALS USED IN CONSTRUCTION OF ANY IMPROVEMENTS, AVAILABILITY AND QUANTITY OR QUALITYOF WATER, STABILITY OF THE SOIL, SUSCEPTIBILITY TO LANDSLIDE OR FLOODING, SUFFICIENCY OF DRAINAGE, WATER LEAKS, WATER DAMAGE, MOLD OR ANY OTHER MATTER AFFECTING THE STABILITY, INTEGRITY OR SAFETY OF THE PROPERTY OR IMPROVEMENTS.
(b)THE CONFORMITY OF THE PROPERTY OR THE IMPROVEMENTS TO ANY ENVIRONM ENTAL, ZONING, LAND USE OR BUILDINGCODE REQUIREMENTS OR COMPLIANCE WITH ANY LAWS, RULES, ORDINANCES OR REGULATIONS OF ANY FEDERAL, STATE OR LOCALGOVERNMENTAL AUTHORITY, OR THE GRANTING OF ANY REQUIRED PERMITS OR APPROVALS, IF ANY, OF ANY GOVERNMENTALBODIES WHICH HAD JURISDICTION OVER THE CONSTRUCTION OF THE ORIGINAL STRUCTURE, ANY IMPROVEMENTS AND/OR ANYREMODELING OF THE STRUCTURE.
(c)THE HABITABILITY, MERCHANTABILITY, MARKETABILITY, PROFITABILITY OR FITNESS FOR A PARTICULAR PURPOSE OF THEPROPERTY OR IMPROVEMENTS, INCLUDING REDHIBITORY VICES AND DEFECTS, APPARENT, NONAPPARENT OR LATENT, WHICH NOWEXIST OR WHICH MAY HEREAFTER EXIST AND WHICH IF KNOWN TO PURCHASER, WOULD CAUSE PURCHASER TO REFUSE TOPURCHASE THE PROPERTY.
(d)Mold, mildew, spores and/or other microscopic organisms and/or allergens (collectively referred to herein as "Mold") are environmental
conditions that are common in residential properties and may affect the Property. Mold, in some forms, has been reported to be toxic and to causeserious physical injuries, including but not limited to allergic and/or respiratory reactions or other problems, particularly in persons with immune systemproblems, young children and/or elderly persons. Mold has also been reported to cause extensive damage to personal and real property. Mold mayhave been removed or covered in the course of any cleaning or repair of the Property. Purchaser acknowledges that if Seller or a ny of Seller'semployees, contractors, or agents cleaned or repaired !he Property or remediated Mold contamination, Seller does not in any way warrant thecleaning, repair or remediation. Purchaser accepts full responsibility for all hazards that may result from the presence of Mold in or around theProperty. Purchaser is satisfied with the condition of the Property notwithstanding the past or present existence of Mold in or around the Property, and Purchaser has not in any way relied upon any representations of Seller, Seller's employees, officers, directors, contractors, or agents concerning thepast or present existence of Mold in or around the Property.
Authentlsl11n ID: DA734453-1BAC-4582-tEF2-71 DEA77E4EFB
(e) In the event the Property is affected by an environmental hazard, as determined by Seller, either party may terminate the Agreement. In the
event Seller decides to sell the Property to Purchaser and Purchaser agrees to purchase the Property, Purchaser agrees to execute an indemnity and
general release at Closing, in a form acceptable to Seller, releasing Seller from any liability related to environmental hazards or conditions on the
Property. In the event Purchaser elects not to execute the disclosure and release, the Agreement shall, at Seller's discretion, automatically terminate
and be of no further force or effect.
(f)In the event Seller has received official notice that the Property is in vlolation of building codes or similar laws or regulations, Seller may
terminate the Agreement or delay the Closing Date or Purchaser may terminate the Agreement. In the event the Agreement is terminated by either
Purchaser or Seller pursuant to this Section 7(f), any Earnest Money shall be returned to Purchaser. If there is an enforcement proceeding arising from
allegations of such violations before an enforcement board, special master, court or similar enforcement body, and neither Purchaser nor Seller
terminate the Agreement, Purchaser agrees (a) to accept the Property subject to the violations, (b) to be responsible for compliance with the applicable
code or regulation and with orders issued in any code enforcement proceeding, and (c) to resolve the deficiencies as soon as possible after the
Closing. Purchaser agrees to execute any and all documents necessary or required for Closing by any agency with jurisdiction over the
Property. Purchaser further agrees to indemnify Seller from any and all claims or liability arising from Purchaser's breach of this Section 7(f).
(g) The Closing shall constitute acknowledgment by Purchaser that Purchaser had the opportunity to retain an independent, qualified
professional to inspect the Property and that the condition of the Property is acceptable to Purchaser. Purchaser agrees that Seller shall have no
liability for any claims or losses Purchaser or Purchaser's successors or assigns may incur as a result of construction or other defects which may now
or hereafter exist with respect to the Property.
(h)Purchaser acknowledges and agrees that neither Seller nor Seller's agents have made nor will make any oral or written representatio n or
warranty regarding the accuracy of the address of the Property.
(i)Purchaser acknowledges and agrees that the Property was acquired through foreclosure, deed in lieu of foreclosure, forfeiture, tax sale,
eminent domain or similar process. Accordingly, to the fullest extent allowed by law, Seller shall be exempt from providing or filing any disclosure
statement with respect to the Property and Purchaser acknowledges and agrees to assume any disclosure obligations of Seller. Purchaser shall
execute and deliver to Seller at or prior to Closing such further documents as Seller or its representatives may request with respect to the foregoing. If disclosures are required by state law, Purchaser hereby agrees to waive such requirements. If required by state law, Purchaser shall, upon request,
execute a written waiver of the disclosure provisions of state law.
8. Repairs. Unless otherwise provided in Section 30 of this Addendum, Seller shall have no obligation to pay for or perform any inspections or
repairs to the Property whatsoever. In the event Seller agrees to pay for or perform any inspections or repairs, this Section 8 shall govern such
inspections or repairs.
(a) If Seller has agreed to pay for treatment of wood infesting organisms, Seller shall treat only active infestation. All treatments for
wood infesting organisms and other repairs will be completed by a vendor approved by Seller, and will be subject to Seller's satisfaction only. Neither Purchaser nor its representatives shall enter u pan the Property to make any repairs and/or treatments prior to the Closing without the prior written
consent of Seller. To the extent that Purchaser or its representatives make repairs and/or treatments to the Property prior to the Closing, Purchaser
hereby agrees to release and indemnify Seller from and against any and all claims related in any way to the repairs and/or treatments and further
agrees to execute a release and indemnification and provide proof of liability insurance naming Seller as a loss payee, both in a form acceptable to
Seller, prior to entry on the Property and commencement of any such repairs or treatments.
(b) Purchaser acknowledges that all repairs and treatments are done for the benefit of Seller and not for the benefit of Purchaser and that
Purchaser has inspected or has been given the opportunity to inspect such repairs and treatments. Any repairs or treatments made or caused to be
made by Seller shall be completed prior to the Closing. Under no circumstances shall Seller be required to make any repairs or treatments after the
Closing Date.
(c)Purchaser acknowledges that the Closing of this transaction shall be deemed Purchaser's reaffirmation that Purchaser is satisfied with the
condition of the Property for all purposes and satisfied with all repairs and treatments to the Property and waives all claims related to such condition
and to the quality of the repairs or treatments to the Property. Any repairs or treatments shall be performed for functional purposes only and exact
restoration of appearance or cosmetic items following any repairs or treatments shall not be required. Seller shall not be obligated to obtain or provide
to Purchaser any receipts for repairs or treatments, written statements indicating dates or types of repairs or treatments performed, or copies of such
receipts or statements, nor any other documentation regarding any repairs and treatments to the Property. SELLER DOES NOT WARRANT OR
GUARANTEE ANY WORK, REPAIRS OR TREATMENTS TO THE PROPERTY WHATSOEVER.
9.Occupancy Status of Property.
(a)Purchaser acknowledges that neither Seller nor its representatives, agents or assigns have made any warranties or
representations, implied or expressed, relating to the existence of any tenants or occupants at the Property, unless otherwise noted in Section 30 of
this Addendum. Purchaser acknowledges and agrees that the Closing of this transaction shall be deemed Purch aser's reaffirmation that neither Seller
nor its representatives, agents or assigns have made any warranties or representations, implied or expressed, relating to the existence of any tenants
or occupants at the Property unless otherwise noted in Section 30 of this Addendum. Seller, its representatives, agents and assigns shall not be
responsible for evicting or relocating any tenants or occupants or personal property at the Property prior to or subsequent to the Closing unless
otherwise specifically agreed to in writing by Seller.
(b) Purchaser further acknowledges and agrees that Seller is not, to the best of Purchaser's knowledge, holding any security deposits from
former or current tenants and has no information as to such security deposits as may have been p aid by the former or current tenants to anyone, and
Purchaser agrees that no sums representing such tenant security deposits shall be transferred to Purchaser as part of this transaction. Purchaser
further agrees to assume all responsibility and liability for the refund of such security deposits to the tenants pursuant to the provisions of applicable
laws and regulations. All rent, due and payable and collected from tenants for the month in which the Closing occurs, will be prorated according to the
provisions of Section 11 of this Addendum.
(c) Purchaser acknowledges and agrees that the Pr operty may be subject to the provisions of local rent control ordinances and
regulations. Purchaser agrees that as of the Closing all eviction proceedings and other duties and responsibilities of a property owner and landlord,
including but not limited to those proceedings required for compliance with such local rent control ordinances and regulations, shall be Purchaser's
sole responsibility and cost.
(d) If the Property is located in Alabama, Purchaser understands that the Property may be subject to redemption by the prior owner upon
payment of certain sums and Purchaser may be dispossessed of the Property. Purchaser is advised to consult with an attorney to fully understand the
import and impact of the foregoing. Purchaser acknowledges and agrees Purchaser shall have no recourse against Seller whatsoever in the event the
right of redemption is exercised.
Aulhenllslgn ID: DA73«53-1BAC-45B2-9EF2-71DEA77E4EFB
10. Personal Property. Purchaser acknowledges and agrees that items of equipment, fixtures, and other items of personal property, including
but not limited to window coverings, appliances, manufactured homes, mobile homes, vehicles, spas, antennas, satellite dishes and garage door
openers, now or hereafter located on the Property (collectively, "Personal Property") shall not be included in the sale of the Property or the Purchase
Price unless each item of Personal Property is specifically described and referenced in Section 30 of this Addendum. Any Personal Property at or on
the Property may be subject to claims by third parties and, therefore, may be removed from the Property prior to or after the Closing Date. Seller
makes no representation or warranty as to the condition of any Personal Property, title thereto, or whether any personal property is encumbered by any
liens or other adverse claims by third parties. Purchaser assumes full responsibility for any Personal Property remaining on the Property at the time of the Closing. ANY PERSONAL PROPERTY SOL D BY SELLER SHALL BE ACCEPTED BY PURCHASER ON AN "AS IS, WHERE IS" BASIS
WITHOUT REPRESENTATION OR WARRANTY OF ANY KIND OR NATURE, AND SPECIFICALLY EXCLUDING ANY WARRANTIES OF
MERCHANTABILITY OR FITNESS FOR ANY PAR TICULAR PURPOSE.
11.Closing Costs and Adjustments.
(a)Purchaser and Seller agree to prorate the following expenses as of Closing and funding: municipal water and sewer charges, utility charges,
real estate taxes and assessments, common area charges, condominium or planned unit development or similar community assessments, cooperative
fees, maintenance fees, and rents, if any. In determining proration, responsibility for the day on which funding occurs shall be allocated to
Purchaser. Payment of special assessment district bonds and assessments, and payments of homeowner's association of special assessments shall
be paid current and prorated between Purchaser and Seller as of the Closing Date with payments not yet due and owing to be assumed by Purchaser
without credit toward the Purchase Price. Property taxes shall be prorated based on an estimate or actual taxes from the previous year on the
Property. All proration shall be based upon a 30-day month and, except as otherwise provided herein, all such proration shall be final. Seller shall not
be responsible for any amounts due, paid or to be paid after Closing, including, but not limited to, any laxes, penalties or interest assessed or due as a
result of retroactive, postponed or additional taxes resulting from any change in use of, or construction on, or improvement to the Property, or an
adjustment in the appraised value of the Property. In the event Seller has paid any taxes, special assessments or oiher fees and there is a retund ot
any such taxes, assessments or fees after the Closing, and Purchaser as current owner of the Property receives the payment, Purchaser will
immediately submit the refund to Seller. If the Property is heated or has storage tanks for fuel oil, liquefied petroleum gases or similar fuels, Purchaser
will buy the fuel in the tank at Closing al the current price as calculated by the supplier.
(b)Except as expressly assumed by Seller in Section 30 of this Addendum, Purchaser shall bear its own costs (including attorneys' fees) in
connection with its negotiation, due diligence investigation and conduct of the transaction contemplated by the Agreement.
(c)Purchaser shall pay the cost of any survey. Recording fees, escrow fees and other customary dosing costs shall be allocated between Seller
and Purchaser in the manner customary for residential real estate transactions in the metropolitan area or city in which the Property is located.
(d) SELLER AGREES TO PAY THE PREMIUM FOR AN OWNER'S POLICY OF TITLE INSURANCE ONLY IF THE OWNER'S POLICY ISISSUED BY SELLER'S SELECTE D TITLE AGENT. NOTWITHSTANDING LOCAL CUSTOM, REQUIREMENTS OR PRACTICE, OR ANYTHING IN
THE AGREEMENT TO THE CONTRARY, IF PURCHASER SELECTS A TITLE AGENT TO ISSUE THE OWNER'S POLICY OF TITLE INSURANCE,
PURCHASER SHALL BE OBLIGATED TO PAY THE ENTIRE PREMIUM FOR SUCH POLICY AND SELLER SHALL HAVE NO OBLIGATION TO PAY
ANY PORTION OF SUCH PREMIUM.
(e)Seller shall pay a real estate commission pursuant to the listing agreement between Seller and Seller's listing broker.
(f)All other costs and expenses, including any cost, expense or tax imposed by any state or local entity not otherwise addressed herein, shall be paid by Purchaser.
12.Delivery of Funds. Regardless of local custom, requirements, or practice, upon delivery of the Deed by Seller to Purchaser, Purchaser shall
deliver all funds due Seller from the sale in the form of certified check, cashier's check, or wire transfer.
13.Governmental Required Permits and Repairs. Except as prohibited by law, if the Property is located in a jurisdiction that requires acertificate of occupancy, smoke detector certification, septic certification or any similar certification or permit or any form of improvement or repair to the
Property (collectively, "Permits and Repairs"), Purchaser acknowledges and agrees that Purchaser shall be responsible for obtaining any and all of the
Permits and Repairs at Purchaser's sole cost and expense. Purchaser shall make application for all Permits and Repairs within ten (10) days of the
Seller Acceptance Date. Purchaser shall not have the right to delay the Closing due to Purchaser's failure or inability to obtain any required Permits
and Repairs. Unless Seller declines to consent to a required inspection or repair to the Property, the failure of Purchaser to obtain and furnish the
Permits and Repairs shall constitute a material breach of the Agreement. Notwithstanding the foregoing, neither Purchaser nor its representatives shall
enter upon the Property to make any repairs or treatments prior to the Closing without the prior written consent of Seller. To the extent the Purchaser or
its representatives make repairs or treatments to the Property prior to the Closing, Purchaser hereby agrees to release and indemnify Seller from and
against any and all claims related in any way to the repairs and/or treatments and further agrees to execute a release and indemnification and provide
proof of liability insurance naming Seller as a loss payee, both in a form acceptable to Seller, prior to entry on the Property and commencement of any
such repairs or treatments. If the Property is located in a jurisdiction that requires Permits and Repairs and Seller declines to consent lo a required
inspection or repair lo the Property, the Agreement shall terminate and the Earnest Money shall be refunded to Purchaser.
14. Delivery of Possession of Property. Seller shall deliver possession of the Property to Purchaser at the Closing and funding of the
sale. Pursuant to Section 9 of this Addendum, the delivery of possession shall be subject to the rights of any tenants or parties in possession. If
Purchaser alters the Property or causes the Property to be altered in any way and/or occupies the Property or allows any other person to occupy the
Property prior lo Closing and funding without the prior written consent of Seller, such event shall constitute a breach by Purchaser under the
Agreement and Seller may terminate the Agreement and Purchaser shall be liable to Seller for damages (including attorneys' fees and costs) caused
by any such alteration or occupation of the Property prior to Closing and funding, and Purchaser waives any and all claims for damages or
compensation for improvements made by Purchaser to the Property, including but not limited to any claims for unjust enrichment. Without limiting any
remedy of Seller under this Addendum at law or in equity, Seller shall also have the right to terminate the Agreement and retain the Earnest Money as
liquidated damages for Purchaser's default under this Section.
15.Form of Deed. The deed to be delivered at Closing shall be a deed that covenants that grantor grants only that title which grantor may have
and that grantor will only defend title against persons claiming by, through, or under the grantor, but not otherwise (which deed may be known as a
Special Warranty, Limited Warranty, Quit Claim or Bargain and Sale Deed). Any reference to the term "Deed" in the Agreement shall be construed to
such form of deed.
16.Defects in Tille. If Purchaser raises an objection to title to the Property or if the seller discovers a defect in title which, if valid, would make
title to the Property uninsurable, Seller shall have the right unilaterally to terminate the Agreement by giving written notice of the termination to
Purchas er. Jf Seller chooses lo correct the problem through reasonable efforts, as determined by Seller in its sole and absolute discretion, prior to the
Closing Date, including any written extensions, or if title insurance is available from a reputable title insurance company selected by Seller at regular
rates containing affirmative coverages for the title objections, then the Agreement shall remain in full force and Purchaser shall perform pursuant to the
terms set forth in the Agreement. Seller shall not be obligated to remove any exception or to bring any action or proceeding or bear any expense in
Authentlsign ID: DA734453-1BAC-45B2-9EF2-71DEA77E4EFB
order to convey title to the Property or to make the title marketable or insurable, and any attempt by Seller to remove such title exceptions shall not
impose an obligation upon Seller to remove those exceptions. Purchaser acknowledges that Seller's title to the Property may be subject to court
approval of a foreclosure or to a mortgagor's right of redemption. In the event Seller is not able to (a) make the title insurable or correct any problems
or (b) obtain title insurance from a title insurance company selected by Seller, all as provided herein, either party may terminate the Agreement and
any Earnest Money shall be returned to Purchaser and Seller shall have no further obligation or liability to Purchaser hereunder. Section 19(b) of this
Addendum also provides that Seller may extend the Closing Date or terminate the Agreement if Seller determines, in Seller's sole and absolute
discretion, that Seller is unable to convey insurable title to the Property.
17.Representations and Warranties. Purchaser hereby represents and warrants to, and covenants and agrees with, Seller as to the following
matters (all representations, warranties and covenants are true on the date hereof and shall be true as of the Closing) with the understanding that
Seller is relying on these representations, warranties and covenants in effecting the transactions contemplated hereby;
(a)Purchaser is purchasing the Property solely in reliance on its own investigation and inspection of the Property and not on any
information, representation or warranty provided or to be provided by Seller, its servicers, representatives, brokers, employees, agents or assigns;
(b )This Addendum shall be binding an d enforceable against Purchaser in accordance with its terms, and upon Purchaser's execution of the
additional documents contemplated by this Addendum, they shall be binding and enforceable against Purchaser in accordance with their terms. The
execution and delivery of this Addendum and Purchaser's performance of the obligations hereunder does not require any consents or approvals of any
third persons;
(c)This Addendum will not, with or without the giving of notice or the lapse of time or both, violate or conflict with, result in a breach of, or
constitute a default under, any agreement, contract, lease, license, instrument, or other arrangement to which Purchaser is a party, or by which
Purchaser is bound;
{d) Neither Seller nor its servicers, employees, representatives, brokers, agents or assigns, have made any representations or warranties,
implied or expressed, relating to the marketability, insurability or condition of the Property or the contents thereof, except as expressly set forth in
Section 30 of this Addendum;
(e)Purchaser has not relied on any representation or warranty from the Seller regarding the marketability, insurability or condition of the Property
or the contents thereof, or the nature, quality, or workmanship of any repairs made by Seller; and
(f)Purchaser will not occupy, or cause or permit others to occupy, the Property prior to Closing and funding and, unless and until any necessary
Certificate of Occupancy has been obtained from the appropriate governmental entity, will not occupy or cause or permit others to occupy the Property
after Closing.
18.WAIVERS BY PURCHASER. AS A MATERIAL PART OF THE CONSIDERATION TO BE RECEIVED BY SELLER UNDER THE
AGREEMENT AS NEGOTIATED AND AGREED TO BY PURCHASER AND SELLER, PURCHASER WAIVES THE FOLLOWING:
{a) ALL RIGHTS TO FILE AND MAINTAIN AN ACTION AGAINST SELLER FOR SPECIFIC PERFORMANCE;
(b} ANY RIGHT TO RECORD A LIS PEND ENS AGAINST THE PROPERTY OR TO RECORD OR FILE THE CONTRACT, THIS ADDENDUM
OR ANY MEMORANDUM THEREOF IN THE REAL PROPERTY RECORDS;
(c) ANY RIGHT TO INVOKE ANY OTHER EQUITABLE REMEDY THAT MAY BE AVA ILABLE THAT, IF INVOKED, WOULD PREVENT
SELLER FROM CONVEYING THE PROPERTY TO A THIRD-PARTY PURCHASER;
(d)ANY AND ALL CLAIMS ARISING FROM THE ADJUSTMENTS OR PRORATIONS OR ERRORS IN CALCULATING THE ADJUSTMENTS
OR PRORATIONS THAT ARE OR MAY BE DISCOVERED AFTER CLOSING;
(e) ANY AND ALL CLAIMS FOR FAILURC:. OF CONSIDERATION OR MISTAKE OF FACT AS SUCH CLAIMS RELATE TO THE PURCHASE
OF THE PROPERTY OR ENTERING INTO OR EXECUTION OF OR CLOSING UNDER THE AGREEMENT;
(f)ANY REMEDY OF ANY KIND, INCLUDING BUT NOT LIMITED TO RESCISSION OF THE AGREEMENT, OTHER THAN AS EXPRESSLY
PROVIDED IN THIS ADDENDUM, TO WHICH PURCHASER MIGHT OTHERWISE BE ENTITLED AT LAW OR IN EQUITY, WHETHER BASED ON
MUTUAL MISTAKE OF FACT OR LAW OR OTHERWISE;
(g)ANY RIGHT TO TRIAL BY JURY, EXCEPT AS WAIVER THEREOF IS PROHIBITED BY LAW, IN ANY LITIGATION ARISING FROM, OR
CONNECTED WITH OR RELATED TO THE AGREEMENT;
(h) ANY CLAIMS FOR LOSSES PURCHASER MAY INCUR AS A RESULT OF PURCHASER'S DUE DILIGENCE, INCLUDING BUT NOT
LIMITED TO COST OF ANY INSPECTIONS OF OR REPORTS FOR THE PROPERTY, AND CONSTRUCTION ON, REPAIR TO, OR TREATMENT
OF THE PROPERTY, OR OTHER DEFECTS WHICH MAY NOW OR HE REAFTER EXIST WITH RESPECT TO THE PROPERTY;
(i) ANY CLAIM FOR LOSS OR DAMAGE, INCLUDING, WITHOUT LIMITATION, INDIRECT, SPECIAL OR CONSEQUENTIAL LOSS OR
DAMAGE ARISING FROM, BASED UPON, DUE TO OR OTHERWISE RELATED TO ENVIRONMENTAL CONDITIONS AFFECTING THE PROPERTY, INCLUDING BUT NOT LIMITED TO MOLD, LEAD PAINT, FUEL OIL, ALLERGENS OR OTHER TOXIC SUBSTANCES OF ANY KIND;
U) ANY RIGHT TO AVOID THIS SALE OR REDUCE THE PRICE OR HOLD SELLER RESPONSIBLE FOR DAMAGES ON ACCOUNT OF
THE MARKETABILITY, INSURABILITY OR CONDITION OF THE PROPERTY, HABITABILITY, LACK OF SUITABILITY AND FITNESS OF THE
PROPERTY FOR A PARTICULAR PURPOSE, OR REDHIBITORY VICES AND DEFECTS, APPARENT, NONAPPARENT OR LATENT,
DISCOVERABLE OR NONDISCOVERABLE;
(k)ANY CLAIM FOR LOSS OR DAMAGE, INCLUDING BUT NOT LJMITED TO INDIRECT, SPECIAL, OR CONSEQUENTIAL LOSS OR
DAMAGE ARISING FROM, BASED UPON, DUE TO OR OTHERWISE RELATED TO ENCROACHMENTS, EASEMENTS, SHORTAGES IN AREA OR ANY OTHER MATTER WHICH WOULD BE DISCLOSED OR REVEALED BY A SURVEY OR INSPECTION OF THE PROPERTY OR SEARCH
OF PUBLIC RECORDS; AND
(I} ANY CLAIM FOR LOSS OR DAMAGE, INCLUDING BUT NOT LIMITED TO INDIRECT, SPECIAL, OR CONSEQUEN TIAL LOSS OR
DAMAGE ARISING FROM, BASED UPON, DUE TO OR OTHERWISE RELATED TO: ANY DISCREPANCY BETWEEN THE PROPERTY'S
ADDRESS AND THE PROPERTY INSPECTED BY PURCHASER; THE PROPERTY HAVING AN INCORRECT MUNICIPAL ADDRESS; OR EITHER
SELLER'S OR PURCHASER'S AGENT SHOWING PURCHASER AN INCORRECT PROPERTY. IN THE EVENT OF CONFLICT BETWEEN THE
MUNICIPAL ADDRESS OF THE PROPERTY AND THE LEGAL DESCRIPTION OF THE PROPERTY, THE LEGAL DESCRIPTION SHALL
CONTROL.
Authentisign ID: DA734453-1BAC-45B2.-9EF2-71DEA77E4EFB
References to the "Seller" in this Section 18 shall include Seller and Seller's servicers, representatives, agents, brokers, employees and assigns. In the
event that the Purchaser breaches or disregards, or attempts to disavow, any of the representations, warranties or waivers described or contemplated
under Section 17 or Section 18 of this Addendum, the Purchaser shall pay all reasonable attorney's fees and costs incurred by the Seller in (i) seeking
reaffirmation or enforcement of any such representation, warranty or waiver, or (ii) defending any action initiated by the Purchaser for the purpose or
relating to any such breach, disregard or disavowal, and Purchaser shall pay Five Thousand Dollars ($5,000.00) as liquidated damages for such
attempted or actual breach, disregard or disavowal, which amount shall be in addition to any liquidated damages held or covered by the Seller
pursuant to Section 25 of this Addendum.
19.Conditions to Seller's Performance. Seller shall have the unilateral right, at Seller's sole and absolute discretion, to extend the Closing Date
or to terminate the Agreement if:
(a} Full payment of any mortgage insurance claim related to the loan previously secured by the Property is not confirmed prior to the Closing
Date or the mortgage insurance company exercises its right to acquire title to the Property;
(b)Seller determines, in its sole and absolute discretion, that it is unable lo convey insurable title to the Property through a title insurance
company selected by Seller at regular rates;
(c)Seller has either sold or has agreed to sell the loan secured by the Property to another party;
(d)Full payment of any property, fire or hazard insurance claim is not confirmed prior to the Closing or the date set forth herein for closing;
(e)Any third party, whether tenant, homeowner's association or otherwise, exercises rights under a right of first refusal, option or similar right to
purchase the Property:
(f)Seller determines, in its sole and absolute discretion, that the sale of the Property to Purchaser or any related transactions are in any way
associated with illegal activity of any kind;
(g)Seller has transferred and conveyed the Property to a third party;
(h) the Purchaser is the former mortgagor of the Property whose interest was foreclosed, or is related to or affiliated in any way with the former
mortgagor, and Purchaser has not disclosed this fact to the Seller prior to !he Seller's acceptance of the Agreement. Such failure to disclose shall
constitute default under the Agreement, entitling the Seller to exercise any of its rights and remedies, including, without limitation, retaining the earnest
money deposit; or
(i)The Purchase Price is insufficient to pay the sum of the closing costs, taxes, commissions, and any liens on or obligations secured by the
Property that Seller has agreed to pay hereunder.
In the event Seller elects to terminate the Agreement as a result of any of the foregoing, the Earnest Money shall be returned to Purchaser and the
parties shall have no further obligation under the Agreement except the rights and obligations that survive termination pursuant to Section 26 of this
Addendum.
20. Remedies for Default.
(a)In the event of Purchaser's default, material breach or material misrepresentation of any fact under the terms of the Agreement, Seller, at its
option, may retain the Earnest Money and any other funds paid by Purchaser as liquidated damages and/or invoke any other remedy expressly set
forth in the Agreement and Seller is automatically released from the obligation to sell the Property to Purchaser and neither Seller nor its
representatives, agents, attorneys, successors or assigns shall be liable lo Purchaser for any damages of any kind as a result of Seller's failure to sell
and convey the Property. PURCHASER ACKNOWLEDGES AND AGREES THAT BY SIGNING THIS ADDENDUM, SELLER SHALL HAVE THE
RIGHT TO RETAIN OR SEEK THE RELEASE OF THE EARNEST MONEY UNDER THIS SECTION 20, WITHOUT ANY FURTHER ACTION,
CONSENT OR DOCUMENT FROM PURCHASER.
(b) Seller shall only be in default under the Agreement if Purchaser delivers written notice to Seller detailing the default and Seller fails to cure
such default within 20 days of receipt of such written notice (or such longer period of time as may be necessary, provided that Seller diligently pursues
such cure). If Seller is in default hereunder or if Seller terminates the Agreement as provided under the provisions of thereof, Purchaser shall be
entitled to the return of the Earnest Money as Purchaser's sole and exclusive remedy at law or in equity. Any reference to a return of the Earnest
Money in the Agreement shall mean a return of the Earnest Money less any escrow cancellation fees applicable to Purchaser under the Agreement, and less fees and costs payable for services and products provided during escrow al Purchaser's request. Purchaser waives any claim that the
Property is unique and Purchaser acknowledges that a return of its Earnest Money can adequately and fairly compensate Purchaser. Upon return of
the Earnest Money to Purchaser, the Agreement shall be terminated, and Purchaser and Seller shall have no further liability, no further obligation, and
no further respons ibility each to the other, and Purchaser and Seller shall be released from any further obligation each to the other in connection with
the Agreement, except the rights and obligations that survive pursuant to Section 26 of this Addendum.
(c)Purchaser agrees that Seller shall not be liable to Purchaser for any special, consequential or punitive damages whatsoever, whether in
contract, tort (including negligence and strict liability} or any other legal or equitable principle, including but not limited to any cost or expense incurred
by Purchaser in selling or surrendering a lease on a prior residence, obtaining other living Accommodations, moving, storage or relocation expenses or
any other such expense or cost arising from or related to the Agreement or a breach thereof.
( d) Any consent by any party to, or waiver of, a breach by the other, whether express or implied, shall not constitute consent to, waiver of or
excuse for any different or subsequent breach.
(e) In the event either party elects to exercise its remedies as described in this Section 20 or the Agreement is terminated, the parties shall have
no further obligation under the Agreement except the rights and obligations that survive termination pursuant to Section 26 of this Addendum.
21.lndemntfication. Purchaser agrees to indemnify and fully protect, defend and hold Seller, its officers, directors, employees, shareholders,
servicers, representatives, agents, attorneys, tenants, brokers, successors and assigns harmless from and against any and all claims, costs, liens,
loss, damages, attorneys' fees and expenses of every kind and nature that may be sustained by or made against Seller, its officers, directors,
employees, shareholders, servicers, representatives, agents, attorneys, tenants, brokers, successors or assigns, resulting from or arising out of:
(a)Inspections or repairs made by Purchaser or its agents, employees, contractors, successors or assigns;
(b)the imposition of any fine or penalty imposed by any governmental entity resulting from Purchaser's failure timely to obtain any permits,
approvals, repairs or inspections, or to comply with all applicable laws, rules, ordinances and regulations;
Aulhen6slgn ID: DA734453-1BAC-45B2-9EF2-71 DEA77E4EFB
(c)claims for amounts due and owing by Seller for taxes, homeowner's association dues or assessment, or any other terms prorated at Closingunder Section 11 of this Addendum;
(d)The breach by Purchaser of any of the terms and conditions of the Agreement; and
(e)Purchaser's or Purchaser's tenants, agents or representative's use or occupancy of the Property prior to Closing and funding.
22. Risk of Loss. Regardless of local custom or practice, Purchaser assumes all risk of loss related to damage to the Property. In the event offire, destruction or other casualty loss to the Property after Seller's acceptance of the Agreement and prior to Closing and funding, Seller may, at itssole discretion, repair or restore the Property, or Seller may terminate the Agreement. If Seller elects to repair or restore the Property, then Seller may, at its sole discretion, limit the amount to be expended. If Seller elects to repair or restore the Property, Purchaser's sole and exclusive remedy shall beeither to acquire the Property in its then current condition at the Purchase Price with no reduction thereof by reason of such loss, or terminate theAgreement and receive a refund of any Earnest Money.
23.Eminent Domain. In the event that Seller's interest in the Property, or any part thereof, shall have been taken by eminent domain or shall bein the process of being taken on or before the Closing Date, either party may terminate the Agreement and the Earnest Money shall be returned toPurchaser and neither party shall have any further rights or liabilities hereunder except the rights and obligations that survive termination pursuant to Section 26 of this Addendum.
24.Keys. Purchaser understands that if Seller is not in possession of keys, including but not limited to mailbox keys, recreation area keys, gatecards or automatic garage door remote controls, then the cost of obtaining the same will be the responsibility of Purchaser. Purchaser alsounderstands that if the Property includes an alarm system, Seller cannot provide the access code or key, Purchaser shall be responsible for any costsassociated with the alflnn, changing the access code or obtaining keys. Purchaser is encouraged to re-key the Property after Closing. rurchase;agrees to hold Seller harmless regarding any theft or damage of personal property.
25.Liquidated Damages. THE PA RTIES ACKNOWLEDGE THAT IN THE EVENT OF ANY MATERIAL DEFAULT BY PURCHASER UNDER
THE AGREEMENT, SELLER'S DAMAGES WOULD BE DIFFICULT OR IMPOSSIBLE TO COMPUTE AND THAT THE EARNEST MONEYREPRESENTS A REASONABLE ESTIMATE OF SUCH DAMAGES AS ESTABLISHED BY THE PARTIES THROUGH GOOD FAITH
CONSIDERATION OF THE FACTS AND CIRCUMSTANCES SURROUNDING THE TRANSACTION CONTEMPLATED UNDER THE AGREEMENTAS OF THE DATE HEREOF. IN THE EVENT OF SUCH DEFAULT BY PURCHASER UNDER THE AGREEMENT, SELLER SHALL HAVE THE RIGHT(BUT NOT THE OBLIGATION) TO RETAIN SUCH AMOUNTS AS LIQUIDATED DAMAGES. THE PURCHASER HAS INITIALED BELOW TOESTABLISH THIS INTENT TO ESTABLISH LIQUIDATED DAMAGES.
26.Survival. Delivery of the Deed to the Property to Purchaser by Seller shall be deemed to be full performance and discharge of all of Seller'sobligations under the Agreement. Notwithstanding anything to the contrary to the Agreement, the provisions of Sections 6, 7, 8, 9, 10, 11, 13, 14, 16,17, 18, 20, 21, 22, 25 and 27(a) of this Addendum, as well as any other provision which contemplates performance or observance subsequent to anytermination or expiration of the Agreement, shall survive the Closing, funding and the delivery of the Deed and/or termination of the Agreement by anyparty and continue in full force and effect.
27.General Provisions.
(a)Attorneys' Fees. If either party commences any litigation or judicial action to determine or enforce any of the provisions of the Agreement,the prevailing party in any such litigation or judicial action is entitled to recover all of its costs and expenses {including but not limited to reasonableattorneys' fees, costs and expenditures) from the non-prevailing party.
(b)Further Assurances. Purchaser agrees to execute and deliver to Seller at Closing or as otherwise requested by Seller, documentsreferenced in this Addendum or requested by Seller, and to take such other action as may be reasonably necessary to further the purpose of theAgreement. Copies of referenced documents are available from Seller's listing agent upon request by Purchaser.
(c)Severability. If any provision of this Addendum shall be held to be invalid or unenforceable by any court of competent jurisdiction or as aresult of any legislative action, such holding or action shall be strictly construed. Furthermore, provided the parties are still able to retain all of thematerial benefits of their bargain hereunder, such provision shall be construed, limited or, if necessary, severed, but only to the extent necessary to eliminate such invalidity or unenforceability, and the other provisions of this
Addendum shall remain unaffected and this Addendum shall be construed and enforced as if such provision in its original form and content had never comprised a part hereof.
(d)Assignment of Agreement. Purchaser shall not assign the Agreement without the express written consent of Seller. Seller may assign theAgreement at its sole discretion without prior notice to or consent of Purchaser.
(e)EFFECT OF ADDENDUM. IN THE EVENT THERE rs ANY CONFLICT BETWEEN THIS ADDENDUM AND THE CONTRACT ORESCROW INSTRUCTIONS OR NOTICE OR OTHER DOCUMENTS ATTACHED TO AND MADE A PART OF THE AGREEMENT, THE TERMS OFTHIS ADDENDUM TAKE PRECEDENCE AND SHALL PREVAIL EXCEPT AS OTHERWISE PROVIDED BY LAW. THIS ADDENDUM AMENDS ANDSUPPLEMENTS THE CONTRACT AND ANY ESCROW INST RUCTIONS.
(f)Authority. The undersigned if executing this Addendum and the Contract on behalf of a Purchaser that is a corporation, partnership, trust orother entity, represents and warrants that he or she is authorized by that entity to enter into this Addendum and the Contract and bind the entity toperform any duties and obligations stated in this Addendum and the Contract.
{g) Entire Agreement. The Agreement, including the disclosure of information on lead-based paint or lead-based paint hazard or Seller Disclosure and Release Addendum or other disclosure forms or notices required by law, constitutes the entire agreement between Purchaser and Seller concerning the subject matter hereof and supersedes all previous communications, understandings, representations, warranties, covenants and agreements, whether written or oral and there are no oral, or other written agreements between Purchaser and Seller. NO ORAL PROMISES, REPRESENTATIONS (EXPRESS OR IMPLIED) WARRANTIES OR AGREEMENTS MADE BY SELLER OR BROKER OR ANY PERSON ACTING ON BEHALF OF SELLER SHALL BE DEEMED VALID OR BINDING UPON SELLER UNLESS EXPRESSLY INCLUDED IN THE AGREEMENT. All negotiations are mer ged into the Agreement. Seller shall not be obligated by any other written or verbal statements made by Seller, Seller's representatives or any real estate licensee.
(h)Modification. No provision, tenm or clause of the Agreement shall be revised, modified, amended or waived except by an instrument inwriting signed by Purchaser and Seller.
(i)No Third-Party Beneficiaries. The Agreement does not create any rights, claims or benefits inuring to any person or entity, other than Seller'ssuccessors or assigns, that is not a party to the Agreement, nor does it create or establish any third-party beneficiary to the Agreement.
Authenllslgn ID: DA734453-18AC-45B2-9EF2-71DEA77E4EFB
{j) Counterparts. This Addendum may be executed in any number of counterparts, and each such counterpart shall be deemed to be anoriginal, but all of which, when taken together, shall constitute one agreement. This Addendum may be delivered by facsimile.
(k) Headings. The titles to the sections and headings of various paragraphs of this Addendum are placed for convenience of reference only andin case of conflict, the !ext of the Addendum, rather than such titles or headings, shall control.
(I)No Partnership. The Agreement is not intended to create and does not create a joint venture or partnership between Purchaser and Seller.
(m) Gender. Unless the context otherwise requires, singular nouns and pronouns, when used herein, shall be deemed to include the plural ofsuch nouns or pronouns, and pronouns of one gender shall be deemed to include the equivalent pronoun of the other gender.
(n) Force Majeure. Except as provided in Section 22, no party shall be responsible for delays or failure of performance resulting from acts of God, riots, acts of war, epidemics, power failures, acts of terrorism, earthquakes or other disasters, providing such delay or failure of performance could not have been prevented by reasonable precautions and cannot reasonably be circumvented by such party through use of alternate sources,workaround plans or other means.
(o) Attorney Review. Purchaser acknowledges that Purchaser has had the opportunity to consult with its legal counsel regarding the Agreement; accordingly, the terms of the Agreement are not to be construed against any party because that party drafted the Agreement or construedin favor of any Party because that Party failed to understand the legal effect of the provisions of the Agreement.
(p) Notices. Any notices required to be given under the Agreement shall be deemed to have been delivered when actually received in the caseof hand or overnight delivery, or five (5) days after mailing by first class mail, postage paid, or by fax with confirmation of transmission to the numbers below. All notices to Seller will be deemed sent or delivered to Seller when sent or delivered to Seller's listing broker or agent or Seller's attorney, at theaddress or fax number shown below. All notices to Purchaser shall be deemed sent or delivered when sent or delivered to Purchaser or Purchaser'sattorney or agent at the address or fax number shown below.
(q) Dispute Resolution. Notwithstanding any provision of the Contract to the contrary, the parties acknowledge and agree that any alternativedispute resolution, mediation and/or arbitration provisions contained in the Contract are expressly voided and are of no force or effect.
{r) Facsimile or Electronic Signatures. Seller and Purchaser agree that a signature on this document that is electronically transmitted viafacsimile or the internet is intended to have the same legal effect and shall be as enforceable against the signor as an original signed counterpartwhere the signature is affixed manually.
28, As a precondition to the purchase of the Property and by signing this Addendum, the Buyer(s) hereby certifies that he/she/they/it is or are not an employee or immediate family member of an employee of Select Portfolio Servicing, Inc. or an affiliate, direct or indirect subsidiary and the sam e with respect to any SPS vendor including but not limited to real estate agents and those who perform property
preservation and is/are therefore prohibited from purchasing the Property for this reason.
29.Name in which Pro�Y. will be P.Urchased. Purchaser acknowledges and agrees that title to the property will be held in name(s) of [Refer toBuyer] on page one of this addendum. Any changes to the spelling, grammar or name in which title should be vested must be completed
below.
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Purchaser Name (Please print legibly) C\. p · v le,\ i !, � o ,A 'f Co r p c,-f' 'l,+e A. tlO\ p O / I t f <:_
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Purchaser Name (Please print legibly)
30 Additional Terms or Conditions
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Aulhenlislgn ID: DA734453-1BAC-4582-9EF2-71DEA77E4EFB
PURCHASER'S OFFER
Purchaser has executed this Addendum as of the lA�ay of /V1it t"e,k 20L._f?
Signature: �--'.\.."'\ b� t>
Print Name (or -;:;a�Tii";'comp�� f(e, Tl l D CJJf""C,-l O � �
Title (ifa company): f ,;.,t,t;V f�i,(; 1)i(-tliOV-
Address:
Telephone:
Facsimile:
Signature:
Print Name (or name if a company):
Title (if a company):
Address:
Telephone:
Facsimile:
SELLER'S ACCEPTANCE
Select Portfolio SeNicing, Inc., a Utah corporation
By:
Print Name:
Title:
Date:
AGENT ACKNOWL EDGEMENT
Accepted and agrei-e-:::d_: ��':""'"�------------r-=---:----:---:"-�------------,Seller's Agent: Purchaser's Agent:
Name: Mary Mensch
Print
[�$�� Signature: �::':!
Name:
Print
Signature:
Authenlisign ID: DA734453-1BAC�B2-iEf2-71DEA77E4EFB I Date: I Date:
DISCLOSURE OF INFORMATION ON LEAD-BASED PAINT AND/OR LEAD-BASED PAINT HAZARDS
Lead Warning Statement
Every purchaser of any interest in residential real property on which a residential dwelling was built prior to 1978 is notified that such property may
present exposure to lead from lead-based paint that may place young children at risk of developing lead poisoning. Lead poisoning in young children
may produce permanent neurological damage, including teaming disabilities, reduced intelligence quotient, behavioral problems, and impaired
memory. Lead poisoning also poses a particular risk to pregnant women. The seller of any interest in residential real property is required to provide
the buyer with any information on lead-based paint hazards from risk assessments or inspections in the seller's possession and notify the buyer of
any known lead-based paint hazards. A risk assessment or inspection for possible lead-based paint hazards is recommended prior to purchase.
Seller's Disclosure
(a)Presence of lead-based paint and/or lead-based paint hazards (check (i) or (ii) below):
(i) ___ Known lead-based paint and/or lead-based paint hazards are present in the housing
(explain).
(ii) __ Seller has no knowledge of lead-based paint and/or lead-based paint hazards in the housing.
(b)Records and reports available to the seller (check (i) or (ii) below):
(i) ___ Seller has provided the purchaser with all available records and reports pertaining to lead based paint and/or lead-based paint hazards in
the housing (list documents below).
(ii) __ Seller has no reports or records pertaining to lead-based paint and/or lead-based paint
hazards in the housing.
Purchaser's Acknowledgment (initial)
(c)� Purchaser has received copies of all information listed above.
(d)'t:'? Purchaser has received the pamphlet Protect Your Family from Lead in Your Home.
(e)Purchaser has (check (i) or (ii) below);
(i)� received a 10-day opportunity ( or mutually agreed upon period) to conduct a risk assessment or inspection for the presence of lead-based
paint and/or lead-based paint hazards; or
(ii)� waived the opportunity to conduct a risk assessment or inspection for the presence of lead-based paint and/or lead-based paint hazards.
Agfi's Ac}mowledgment (initial)
(f) �Agent has informed the seller of the seller's obligations under42 U.S.C. 4852(d) and is aware of his/her responsibility to ensure
compliance.
Authentlslgn ID: DA734453-1BAC-45B2-9EF2-71DEA77E4EFB
Certification of Accuracy
The following parties have reviewed the information above and certify, to the best of their knowledge, that the information they have provided is true
and accurate.
SELLER:
Select Portfolio Servicing, Inc., a Utah Cor poration
By: ______________ _
Name:. _______________ _
(Print)
TiUe
Date: ______ _
PURCHASER:
AGENT:
By: ______________ _
Name:. _______________ _
(Print)
Date: ______ _