Addendum For Sale Of Other Property By Buyer {RE-2004AD}

ADDENDUM FOR SALE OF OTHER PROPERTY BY BUYER TO CONTRACT CONCERNING THE PROPERTY AT (Street Address and City) A. The contract is contingent upon Buyer's receipt of the proceeds from the sale of Buyer's property at (Address) by [Time] on , 20 (the Contingency). If the Contingency is not satisfied or waived by Buyer by the above time and date, the contract will terminate automatically and the earnest money will be refunded to Buyer. NOTICE: The date inserted in this Paragraph should be no later than the date inserted in of the contract. B. If Seller accepts a written offer to sell the Property, Seller shall notify Buyer (1) of such acceptance AND (2) that Seller requires Buyer to waive the Contingency. Buyer must waive the Contingency by [Time] on the day after delivery of Seller's notice to Buyer; otherwise the contract will terminate automatically and the earnest money will be refunded to Buyer. C. Buyer may waive the Contingency only by notifying Seller of the waiver and depositing $ with escrow agent as additional earnest money. All notices must be in writing and are effective when delivered in accordance with the contract. D. If Buyer waives the Contingency and Buyer's loan or assumption approval is conditioned upon the sale of Buyer's property described in Paragraph A above, Buyer will be in default if such condition is not satisfied by the date provided for in the contract. If such default occurs, Seller may exercise the remedies specified in Paragraph 15 of the contract. If Buyer fails to obtain loan or assumption approval for any other reason, the provisions of the contract remain in effect. E. For purposes of this Addendum time is of the essence; strict compliance with the times for performance stated herein is required. Buyer Seller Signature: Signature: Name: Name: Buyer Seller Signature: Signature: Name: Name: American LegalNet, Inc. © www.FormsWorkFlow.com