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Y Pyramid ADDENDUM Realty <br /> A - CONVENTIONAL Page of <br /> *• �' FINAN'CING — <br /> THIS ADDENDUM IS PART OF THE OFFER TO PURCHASE DATED <br /> PROPERTY LOCATED AT � ., /9 3 <br /> THE FOLLOWING CONTINGENCIES/ AVE BEEN REVIEWED ��• V FOR <br /> OFFER OR "NO" PART OF THIS •FFER. AND DESIGNATE• <br /> THIS OFFER IS CONTINGENT UpoN=EIT•"R°yES" *ART OF THIS&L,e <br /> 1___X; <br /> J <br /> • <br /> CONVENTIONAL FINANCING• ��►�.,.(,,,y�, ` �" <br /> Buyer obtaining a commitment for a .g-c A4 -N. • <br /> $ <br /> fixed rate first mora `s"� <br /> $ per annum or '--r-$ of purchase price at ainterest g gin the oun of <br /> insurance Plus private mortgage insurance, rate of <br /> premium, and 1/12 annual real estate taxes,1/12 annual fire/casualty <br /> with than <br /> amortization based on <br /> $ <br /> years, with monthly ' if required, with an <br /> years. • The mortgage note shall beyforlac principal and interest less p hannts of <br /> Buyer to pay no more than period of not less than <br /> shall have days no. - ---_ points to obtain said financin <br /> commitmene, or thid offer acceptance of this offer in which to obtain..this mortgage <br /> returned to Buyer. A co is null and void and all the earnest money <br /> i <br /> the Seller. copy of the Lender's commitment letter shall esforwarded to <br /> i <br /> 2. ADJUSTABLE RATE MORTGAGE <br /> Buyer obtaining a commitment for n ad' <br /> Bf $ % of thdjustable rate first mortgage <br /> not more than or loan in the <br /> _� plus p lrlr % of the purchase price at an initial interest amount <br /> nosurance premium, and 1 12 mortgage insurance, rate of : <br /> insurance an / annual real estate taxes ' f/12 required. fire/casualty <br /> may increase or decrease no more than if rngutred. <br /> approved index with increases or % according Said interest <br /> months with a lifetime increases <br /> of decreases no less than every in an <br /> mo not with a <br /> --_%. The loan shall have an on <br /> of not <br /> changes than <br /> the inteyearsratd.be amortized subject to modifications whice ccur <br /> upon changcin Buyer to pay modifications which occur <br /> financing. Buyer shall have Bu P Y no more than <br /> the financi g.commitment or this offer s days and void and points to obtain <br /> days andm ocdepndnae of r s offer to obtain I <br /> returned Seller. <br /> ll the Buyer. A copy nd all earnest money <br /> i <br /> to the Seller. PY of the Lender's commitment letter shall be forwarded <br /> 1 r <br /> 1 3. MORTGAGE ASSUMPTION' <br /> i <br /> The parties agree that Buyer shall assume Seller's obligations and a r <br /> Seller's existing Mortgage loan having an approximate <br /> $ current interest rate of g ee to pay <br /> approximately $ present principal balance of of <br /> with remaining interest rate % per annum and monthly pa <br /> report g term of approximately including Principal, interest, taxes and insurance, <br /> , <br /> P mad Lender's assumption fee. years. Buyer insurance, <br /> rep rt a and Len shall assumption mptl and voidSellerlmayarance maccepeas eo f t isr a ee eat <br /> Bnd t is o not shall b a credan rvoidt and <br /> dtallaearnesto oneypretue of this agreement, <br /> ifnt, <br /> of acceptance of this offer, or if Seller's Lender does not consent returned to Buyer, if <br /> assumption within satisfactory Seller within <br /> essence days of acceptance of this offer. (Time to being days <br /> essence) This Of yrfrom1Senot (strike eeone) contingent upon Seller receiving(Time being of the <br /> entitlement to allow for the reinstatement of Seller's entitlement ing a <br /> Buyer agrees to substitute Buyer's Fed VA <br /> loan and Buyer is a <br /> qualified VA Buyer. if this is a VA <br />-I 4. SECOND MORTGAGE FROM THIRD p <br /> Buyer obtaining a second mortgage ARTY OR SELLER: <br /> Buyer <br /> wian obtaining rate sec of o oe than commitment in the <br /> ths, with interest amount of $ <br /> $ <br /> monthly principal and interest %, amortized over not leas t an ' <br /> • The mortgage shall be for cents of not more than <br /> This contingency shall be removed by Buyer in writingdwithin t less than <br /> acceptance t oB this offer or this offer is null and void and all earnest years. <br /> i <br /> returned to Buyer. days of <br /> i <br /> money <br />-l— 5. INTERIM FINANCING• <br /> Buyers obtaining a commitment for interim financing <br /> property located at g using the Buyer's equity <br /> shall t for a term of not less than as collateral: erim in <br /> from acceptance of this offer to obtain the interim financing commit interim financing <br /> months. Buyer shall have the <br /> offer is null and void and all earnest money shall be returned to Bu days <br /> the Lender's commitment letter shall be forwarded to the Seller, tent or e <br /> Buyer. A copy of <br />,i 6. SELLER PAYING BUYER'S FINANCING CLOSING <br /> Seller agrees to pay $ <br /> AND AC•UISITION COSTS. <br /> including, a toward Buyer's closing <br /> including,report,but notorimited to,dis ount points, loan orgination fees <br /> costs/acquisition costs <br /> brokerage fees, and/or preium, VA-funding fees, buyer <br /> l� <br /> not applicable, ) Any unused d fference shall be credited against the <br /> and/or mortgage balance of the Buyer. Buyer to as permitted by law. (Strike those <br /> closing and acquisition costs. Y purchase price <br /> pay all other additional financing, <br /> 7. LENDER APPLICATION LETTER• <br /> Buyer shall <br /> provide Seller with a letter from a Lender within <br /> andeallnearnestfmoneyhreturnedatolthetBuyer B in process, or offer s null of <br /> days and <br /> Y an void <br /> 8. OTHER FLOOD EROS ON INS <br /> LE ER <br /> 8. OTHER <br /> ?FL eeD ON , •INSURANCE GI� ETC. <br /> BUYERS' 46-------'ad 2/92 INITIALS <br /> 1�- SELLERS' INITIALS i K. <br /> i <br />