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<br /> 8.PREFERRED LENDERS: The BUYER(S)is not r uired to use one of Highl�nd Holdings',Inc.preferred lenders. The BUYER(S)
<br /> is iree to obtain mortgage services from any svurce ey choose: It shauld be noted that Highland Hoidings,Inc.has a twsiness
<br /> reta6o�ship with muStipte tenders, 6ecause of this re aflanship,if;yau select nna of c�ur Preferred Lenders a�yaur LENDER„that
<br /> setecEion may provide Highiand Hotdings,tnc.a fina ciat or otheri benefrt.However,by ohtaining the BUYER'S MOR7GAGE LOAN
<br /> through one of Highland Moldings',Ino.preferred len e►s. Highland Holdings,Inc.egrees to pay ihe tollowing clasing costs:
<br />( � Construc#ion tnterest on Gonstructio Loans
<br /> � Documentary Stamps on Deed
<br /> + Survey
<br /> • TermEte&Soil Treatment �
<br /> + Recording Fees �
<br /> • Owners Titie Insurance&Endorsemen s �
<br /> in addition Buyers agres to aufhorize lender ta discE e any and I II peRinent 3oan qaatifying information to Seller inctuding but not
<br /> I(mited ta;Income,DT1,FICO scores,etc. �
<br /> 9.FAILURE TO OBTAIN LOAN: tf within 45 days om the date this Purchase and Sales Agreement is executed by the Buyer(s), ''
<br /> through no fault of the Buyer(s), the mortgage co pany,a Govemment Agency, a not-for-profit agency, and/or other institutions I,
<br /> passing upon the credit of the Buyer{s},faii to provid an uncand'sGanal toan andJar funding assistance approvat in writing for fi»ancing, �
<br /> subject oniy to receipt of an acceptable appralsal, pdating the 9uyer's documents within 80 days of Closing and normei dosing
<br /> conditions,then Seller may,at its option,tertnlnate is Purchaseland Sales Agreement either verhally or in writing end then return the
<br /> earnest mcaney deposit to the Buyer{s). Upon retum f the deposit by Seller,aU obligations of the parties hereunder shal}terminate. 4f
<br /> conditionai ioan approvat has been obtained,bat fh Buyer(s}atters fheIt financiai cond�son in a way that disqva#�es them fram finai
<br />� loan approvai,the BUYER(S)wili be in default of th PURCHASE AND SAtES AGREEMENT and the SELI.ER will have the right to
<br /> terminate the PURCHASE AND SALES AGREEME and retain all of the EARNEST MONEY DEPOSITS,OPTION DEP051TS and
<br /> other amounts fhe BUYER{S)has delivered as the S LLER'S 3lquidated damages.
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<br /> 10,CHANGE OF LENDER: Once an Acceptable Lo n Approval�has been obtained by BUYER(S)ftom SHELTER MORTGAGE,LLC
<br /> or any other LENLIER,ft is in the best lniarest of bot the Buyer(s)and the Seller to not cMange Lertders. If Buyer chooses to ehange
<br /> Ienders after a fuil laan approval has been rece�v Buyers fa'ilure to ciose caused by ratusal ta toan or by#he new Ie�der or by
<br /> Buyer's election not to ciose shali constitute a defa ft under this contract as pravided in Paragraphy 9 above.Seller must approve
<br /> change and rece(ve full loan approval irom new lend r within 5 tiusiness days pf notificatlon from Buyer and acceptance from Seller
<br /> Suyer urtderstands and agrees that they wiii NOT ch nge tenders;wiihin 34 days of ctosing.
<br /> 11.PRORATIONS: Seller shall prorate all real estat taxes,Homeowner's AssaciaBon dues,assessments and other charges against
<br /> the Home as o(tha date of Glesing. After either the ConsVUatian!Perrn dosing,or after the End Loan closing,the 8uyer{s}wi!!be
<br /> responsible for a1I such charges whether ar not fhese charges were levied or assessed before ar after Closing.
<br /> 12.LANCISCAPING/DRAINAGE: All grading,fill,d sposidon afltrees and contral of water flow wlll he pertormed in a law(ul manner,
<br /> but atherwiss wil!be completed at Selle�s so(e disc tion. Gertain areas of fhe Lot may be!eft in their naturaf state and may not he
<br /> landscaped in any way. At Closing,Setlers respons bility with respect to soii erosion,soit condiiians,drainage,grass,shrubbery and
<br /> landscaping terrninates and Buyer's responsibility b gins. Seller,is not tiable for trees ar Iack thereof,or damages or destruction of
<br /> traes on the property and makes na warranty wha ver as to lthe type,locatiort or amount of trees which wiii be on the propetty
<br /> andlat the condition o€those trees before,after or du ng consfruction.
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<br /> 13.LOTS: Each Lot is unique in its size,shape and rainage characteristics. Buyer(s)understands and agrees that the size of the lot
<br /> s(ape;the e�ct lacation af sidewaiks and dr3vewa {'d any};and the drainage pa#ems af the3r lot wiii differ i�am the modal home
<br /> pians,drawings or renderings they have examined. et(er reserves the right to detertnlne the location and configuration ot the house
<br /> upon the lot subject to subdivision requirements. In e event th�at the type of house deslred by Buyer(s)will not flt on the lat within
<br /> subdiv4sIon requirements,Seller shall sa notify Buyer s)and if Closir�g has not occusred,this Purchase and Seles Agreement shaU be
<br /> terminated and the deposits retumed to Buyer(s},a� the parties shali be reteased irom aIi furthe�Iiablity hereunder. !n the event#his
<br /> is discovered after the Closing of a Construction/Pe loan and prior to the modification ai the loan,Uie exclusive remedy available to
<br /> Buyer(s}shall 6e to re-convey property to Seller with ut lien except the construction loan and Seller shali reimburse Buyer(s)fpr down
<br /> paymenY and ctasing casts. After modifrcat'son Buyer{)is ltmited#b damages,whEoh are reoaverabte a#taw.
<br /> i4. N/A FNA/VA: In the event the loan appli 'on is rejected by either FHA,VA,the mortgage company,or ather institutions
<br /> pessing upon the credit of the 8uyer{s},tYten the e nest money deposit shali he refuaded to Buyer(sj,iess credik report c,�l�arges,
<br /> appraisai fee,rentat aharges and darttage to hause, f any,and thts Purchase and Sates Agreement shati be rrult and void,provided
<br /> however, N Buyer(s) either felis to appiy for a loan or is rejected because Buyer(s) fails to timely supply FHA,VA,the martgage
<br /> comQany,or other inslitutions information or dncume ts required io process the appllcation,then the earnesf money deposit ShaA be
<br /> Eo�fefted. it is a�sress4y agread#hat,notwithstandirrg ny o#her provisians af#his Purchase 8 Sales Agreement,the 8uyer{s}shali no#
<br /> be obligated to campiete the purchase of the prope described herein or to incur any penalty by forfe'iture of eamest money deposits
<br /> or otherwise unless the Buyer(s)has been given in cordance with HUD/FHA pr VA requirements a written statement issued by the
<br /> Federa!hEqustng Commissioner,pepaRment of Vete ans Afta3rs,'ar a direct endorsement iender,seiting farth fhe appraised value of
<br /> the property of not tess than$N/A.The appraised ua6on is arrived at to detattnine the ma�amum martgage the Departme�t of
<br /> Housing and Urban Development wili insure. HUD d es not war�ant the value or the condition of the property. The Buyer(s)should
<br /> satisfy himselflherself that the price and condition of he properly'are acceptable.The Buyer{s)sha8,however,have the privliege and
<br /> option of pFaceecitng with fhe consummation of this rchase anc3 Sales Agreement withaut regard ta the amount of the reasonabte
<br /> vaiue estabiished by the Veterans Adminlstration or the Federal Housing Adm9nistration. Seller agrees to complete the proposed
<br /> � construaUort in accordance with plans and specific 6ons heretofore submitted to the FHA or VA and to obtain an FNA or VA
<br /> i Gomgiiance lnspection Report showing satisfaciory c mpilance. Receipt by Seflet af FtiA or VA fina!Gomptiance Inspectian Report
<br /> shaR wnsritute condusive evidence of campletion. I
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<br /> �� Client @:A33135
<br /> I CGC058580 ver.e/11 BUYER(5) NITIALS �',T-__.,= Page 2 of9 Rkk
<br /> I p.UnbehOUn and Jenls K UnbahBUft/36146 Shady Blulf Lp Base
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