|
a3 5. EXTENSION OF CLOSING DATE;
<br /> sa (a) If Paragraph 8(b) is checked and Closing funds from Buyer's lender(s)are not available on Closing Date due
<br /> 55 to Consumer Financial Protection Bureau Closing Disclosure delivery requirements ("CFPB Requirements"),
<br /> ss #hen Closing Date shall be extended for such period necessary to satisfy CFPB Requirements, provided such
<br /> 5� period shall not exceed '[0 days.
<br /> sa (b) !f an event constituting"Force Majeure"causes services essential for Closing to be unavailable, including the
<br /> 5s unavailabifity of utilities or issuance of hazard, wind, fload or homeowners' insurance, Closing Date shafl be �
<br /> sa extended as provided in STANDARD G.
<br /> s� 6. OCCUPANCY AND POSSESSION:
<br /> sz (a) Unfess the box in Paragraph 6(b) is checked, Seller shall,at Closing, deliver occupancy and possession of the '
<br /> ss Property to Buyer free of tenants, occupants and future tenancies_Also, at Closing, Seller shall have removed
<br /> sa all personal items and trash from the Property and shall deliver all keys,garage door openers,access davices
<br /> ss and cades, as applicable,to Buyer. If occupancy is to be delivered before CEosing, Buyer assumes all risks of
<br /> ss Ioss to the Property fram date of occupancy, shafl be responsible and liable for maintenance from that date,
<br /> s� and shall be deemed to have accepted the Property in its existing condition as of time of taking occupancy.
<br /> sa� (b) ❑CHECK IF PROPERTY IS SUBJECT TO LEASE(S) OR OCCUPAlVCY AFTER CLOSING. If Property is
<br /> ss subjec�to a lease{s) after Closing or is intended to be renfed or occupied by third parties beyond Closing,the
<br /> ro fac#s and terms thereof shall be disclosed in writing by Seller to Buyer and copies of the written lease(s}shall
<br /> 71 be delivered to Buyer,all within 5 days after Effective Date. If Buyer determines,in Buyer's sole discretion,that
<br /> �z the lease{s)or terms of occupancy are not acceptable to Buyer, Buyer may terminate this Contract by delivery
<br /> �s of written notice of such election to Seller within 5 days after receipt of the above items from Seller, and Buyer
<br /> �a shall be refunded fhe Deposit thereby releasing Buyer and Seller from all further obligations under this Contract.
<br /> �s Estoppel Letter(s) and Seller's affidavit shall be provided pursuant to STANDARD D. If Property is infended to
<br /> 7s be occupied by Seller after Closing,see Rider U. POST-CLOSING OCCUPANCY BY SELLER.
<br /> 7�* 7. AS5IGNABILITY: (CHECK ONE): Buyer p may assign and thereby be released from any further liability under
<br /> �a* this Contract; ❑ may assign but not be released from liability under this Contract; or� may not assign this
<br /> �s Contract.
<br />� ao FINANClNG
<br /> ati 8. FINANCING:
<br /> a2� ❑(a) Buyer will pay cash for the purchase of the Property at Closing.There is no financing contingency to Suyer's
<br /> aa obligation to close, I#Buyer obtains a loan for any part of the Purchase Price of the Property, Buyer acknowfedges
<br />' aa that any terms and conditions imposed by Buyer's lender(s) or by CFPB Requirements shall not affect or extend
<br />' a5 t�h�uyers obligation to close or otherwise affect any terms or conditions of this Contract. /
<br /> s�� ��"(b) This Contract is contingent upon Bu er obtaining approval of a p conventional❑ FWA[a'VA or p other
<br /> a�• (describe) loan within�('rf left blank, then 3Q)days after Effective Date{"Loan Approval
<br /> ae* PeriQd°)far(C}iECK ONE): p fixed, p adjustable, [�ixed or adjustable rate in the Loan Amount(See Paragraph
<br /> ss� 2(c)), at an'initial interest rate not to exceed % (if left blank, then prevailing rate based upon Buyer's
<br /> so� creditworthiness), and for a term of (if left blank,then 30}years("Financing").
<br /> 9,* (i} Buyer shall make mortgage loan application for the Financing within (if left blank, then 5) days
<br /> ez after Effective Date and ase good faith and diligent effort to obtain approva!of a loan meeting the Financing terms
<br /> sa ("Loan Approval")and thereafter to close this Contract.Loan Approval which requires a condition related to the sale
<br /> sa by Buyer of other property shall not be deemed Loan Approval for purposes of this subparagraph.
<br /> ss Buyer's failure to use diligent effort to obtain Loan Approval during the Loan Approval Period shall be considered a
<br /> se default under the terms of this Contract. For purposes of this pravision, "diligent effart" includes, but is not limited
<br /> s� to, timely furnishing all documents and information and paying of all fees and charges requested by Buyer's
<br /> ss mortgage broker and lender in connection with Buyer's mortgage loan application.
<br /> se (ii) Buyer shall keep Seller and Broker fully informed about the status of Buyer's mortgage loan application,
<br /> �ao Loan Approvai,and loan processing and authorizes Buyer's mortgage broker, {ender,and Closing Agent to disclose
<br /> �o� such status and progress, and release preliminary and finally executed closing disclosures and settlement
<br /> �os statements,to Seller and Broker.
<br /> ios {iii) Upon Suyer obtaining Loan Approval,Buyer shall promptly deliver written notice of such approval to 5eller.
<br /> �oa (iv) if Buyer is unable to obtain Loan Approval after the exercise of diligent effort, then at any time prior to
<br /> �oe expiration of the Loan Approval Period, Buyer may provide written notice to Seller stating that Buyer has been
<br /> �os unable to obtain Loan Approval and has efected to ei#her•
<br /> �07 (1) waive Loan Approval, in which event this Contract will contlnue as if Loan Approval had been obtained; or
<br /> �oa {2}terminate this Contract. �`
<br /> Buyers Initials,��� Page 2 of 12 Sellers InNla s
<br /> �
<br /> FlorldaRealtors/Florida ar- SIS-5 Rev.4/17�2017 Florfda Realtors�and The Florida Bar. All rights reserved.
<br /> This eoftware is 1lcenaed to [Relli Rymetn - SINpHAM RBALTY, INC.] www.transactioadeek.com.
<br /> Ifl5taf18fiFORMS
<br />
|