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59 6 61 6 2 6 6 65 66 67 68 69 70 71 72 73 74 75 76 77 78 79 80 81 82 83 84 85 86 87 88 89 90 91 92 93 94 95 96 97 98 99 100 101 102 103 104 105 106 107 108 109 110 111 112 113 114 115 116 117 118 119 120 121 122 123 124 125 Any inspections and charges which are required to be made and charged to Buyer or Seller by the lender, 0 FHA, VA, or mortgage insurer, shall be made and charged in accordance with their prevailing rules or regulations and shall supersede any provisions of this Agreement. 3 C. ASSUMPTION: (Attach Financing Addendum) 4 D. CONDITIONAL SALES CONTRACT: (Attach Flnanci g Addendum) E. OTHER METHOD OF PAYMENT: (Attach Financing Addendum) 6. TIME FOR OBTAINING FINANCING: Buyer agrees to make written application for any financing neces ary to complete this transaction or for approval to assume the unpaid balance of th existing mortgage within _ days after the acceptance of this Agreement and to make a diligent effort to D the lender's requirements to obtain financing in cooperation with the Broker and Seller. No more than /' days after acceptance of the Agreement shall be allowed for obtaining favorable written commitments) o mortgage assumption approval. If a commitment or approval is not obtained within the time specified above, this Agreement shall terminate unless an extension of time for this purpose is mutually agreed to in writing. 7. CLOSING; T closing of the sal elt "Closing Date ") shall be on or before s�3 ° /a-0y2 within days after , or ,whichever is later or this Agreement shall termin to unless an extension of time is mutually a �toinuwrlivting The closing fee charged by the title insurance company shall be paid by ❑ Buyer ❑ Seller Included in allowance, if provided. Notwithstanding terms to the contrary, the Parties agree that as a condition to closing, all funds delivered to the closing agent's escrow account be in such form that the closing agent shall be able to disburse in compliance with I.C. 27- 07 -3.7 et. seq.. Therefore, all funds from a single source of $10,000 or pwe shall be wired unconditionally to the closing agent's escrow account and all funds under $10:at 0 from gle source shall be good funds as so defined by statute. 8. POSSESSION: A. The possession of the Propert y be delivered to Buyer closing ❑within days after closing or ❑ on or before if closed. For each day Seller is entitled to possession after closing, Seller shall pay to Buyer at closing $ ,5--b - _V 0 per day. If Seller does not deliver gs ssion b the date required in the first sentence of this paragraph, Seller shall pay Buyer $ pa 00 y per day as liquidated damages until possession is delivered to Buyer; and Buyer shall have all other legal and equitable remedies available against the Seller. B. Maintenance of Property: Seller shall maintain the Property in its present condition until its possession is delivered to Buyer, subject to repairs in response to any inspection. Buyer may inspect the Property prior to closing to determine whether Seller has complied with this paragraph. Seller shall remove all debris and personal property not included in the sale. C. Casualty Loss: Risk of loss by damage or destruction to the Property prior to the closing shall be borne by Seller. In the event any damage or destruction is not fully repaired prior to closing, Buyer, at Buyer's option, may either (a) terminate this Agreement or (b) elect to close the transaction, in which event Seller's right to all real property insurance proceeds resulting from such damage or destruction shall be assigned in writing by Seller to Buyer. D. Utilities/Municipal Services: Seller shall pay for all municipal services and public utility charges through the day of possession. 9. SURVEY: Buyer shall rec ' e a (Check one) ❑ SURVEYOR LOCATION REPORT, which is a survey where comer markers are not s ❑ BOUNDARY SURVEY, which is a survey where comer markers of the Property are set prior to closing; AIVED, no survey unless required by lender; at (Check one) ❑ Buyer's expense ❑ Seller's expense ❑ Shared equally ❑ Included in allowance, if provided. The survey shall (1) be received prior to closing and certified as of a curre date, (2) be reasonably satisfactory to Buyer, (3) show the location of all improvements and yeasem nts, and ( 4) ow the flood zone designation of the Property. 10. FLOOD AREA/OBuyer may ❑ may not terminate this Agreement if the Property requires flood insurance. Buyer ❑ may not terminate this Agreement if the Property is subject to building or use limitations by reason of the location, which materially interfere with Buyer's intended use of the Property. 11. HOMEOWNER'S INSURANCE: Completion of this transaction shall be contingent upon the Buyer's ability to obtain a favorable written commitment for homeowner's insurance within_ days after acceptance of this Agreement. 12. ENVIRONMENTAL CONTAMINANTS ADVISORY/RELEASE: Buyer and Seller acknowledge that Listing Broker, Selling Broker and all salespersons associated with Brokers are NOT experts and have NO special training, knowledge or experience with regard to the evaluation or existence of possible lead -based paint, radon, mold and other biological contaminants ( "Environmental Contaminants ") which might exist and affect the Property. Environmental Contaminants at harmful levels may cause property damage and serious illness, including but not limited to, allergic and /or respiratory problems, particularly in persons with immune system problems, young children and/or the elderly. ._ p o ��M a •4 JT f Q. AJ Ya6l$ Page 2 of 7 (Purchase Agreement) ` Produced with ZipFomS by zipLogix 18070 Fifteen Mile Road, Fraser, Michigan 48026 www.zit)Loaix.com Jl aa.zrx