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so 5. EXTENSIONOF CLOSING DATE: 51 (a) if Ciosing; funds \from= Buyer's lenders) are not available at_ tlme oUClosingAue to- Truth inFLanding Act:MT 52 notice requlcements; 'Closing � shali be�extended: for such period necessary=to sadtfy�TI,iA;no0ce .requirements; 53 not'to eIF xceed 7 days: 54 (b):If extreme weather or other condition or event constituting: "Force Majeure" (see STANDARD G) causes: as (q disruption! of utilities or other services . essential for Closing, or (ii); Hazard, Wlnd F(dod : or Momeownere' se insurance, to become unavaliable prior to Closing; Closing WII` be extbnded a reasonable time>up to3> dae s 57 after°restoration of uUlities% and other services :essenttal tdaciosing, and 'availability of applicable Hazard, Wind as Flood or Momeowners' insurance, If restoration of such utilitles or services=and availability of insuranc .: has-not se• occurred within 14 (if left blank, 14) days after Closing; Date, then either party may terminate this so Contract by delivering written notice to the other party, and Buyer shall be refunded the Deposit, thereby 61 releasing Buyer and:Seller from all, further obligations under thls Contract e2 6. OCCUPANCY AND POSSESSION: Unless otherwise stated herein, Seller shall at; Closing, have removed all 63 personal I items .and trash from the Property, and shall deliver occupancy and possession, along with all keys, 94 garage door openers, access devices and codes, as applicable, to Buyer. If Propertyis intended to be rented or as occupied. beyond Closing, the fact and' terms 'thereof andthe. ;tenant(s) or occup ants shell be ddisclosed pursuant ea to STANDARD <D. If occupancy is to be delivered before Closing; Buyer assumes allrisks of loss to Property hom 67 date of occupancy, shall be responsible and liable form aintenancefrom - th'at date, and shall be deemed to have Be accepted Property In its existing . condition as ofaime of taking occupancy. or 7. ASSIGNABILITY: (CHECK ONE) Buyer [j may assign and thereby be released from ai+ further liability 70• under this Contract, Q` may assign but not be released from liability under this Contract; or p may not assign 71 this : Contract. 72 FINANCING 73 & FINANCING . 740 ❑ (a) Buyer will pay cash or may obtain a loan for the purchase of the Property. There is no financing 75 contingency to Buyer's obligation to close. 766 ® (b) This Contract is contingent upon Buyer obtaining a written loan commitment for a 0 conventional ® FMA 7r [:1 VA loan on the following terms within (if blank, then 3e days after Effective Date (`Loan ?r Commitment Date') for: (CHECK ONE): fixed, [] adjustable, LJ fixed or adjustable rate loan in 790 the principal amount of` $ 59;600.00 or - 70.000: % of the Purchase Price, at an initial interest rate eo• not to exceed % (if blank, then prevailing rate based upon Buyer's creditworthiness), and for a 61• term of 3.0 years ("Financing"). or Buyer will make mortgage loan application for the Financing within _ 6 Ofoblank, then 5) days after e3 Effective Date and use good faith and diligent effort to obtain a written loan commitment for the Financing ea rLoaril Commitmenr), and close this Contract. Buyer shall keep Seller and Broker fully Informed about as the status; of mortgage loan application and Loan Commitment and authorizes Buyer's mortgage broker: and ea Buyer's lender to disclose such status and progress to Seller and Broker. e7 If Buyer does not receive Loan Commitment, then Buyer may .terminate this Contract by delivering written as notice to Seller, and the Deposit shall be refunded to Buyer, thereby releasing Buyer and Seller from all ea further obligations under this Contract. eo If Buyer does not deliver written notice to Seller of receipt of Loan Commitment or Buyer's written waiver of 91 this financing contingency, then after Loan Commitment Date Seller may terminate this Contract by 92 delivering written notice to Buyer and the Deposit shall be refunded to Buyer, thereby releasing Buyer and e3 Seller from all further obligations under this`Contract, 94 if Buyer delivers written notice of receipt of Loan Commitment to Seller and this Contract does not as thereafter close, the Deposit shall be paid to Seller unless failure to close is due to: ( 1 ) Sellers default; ae (2) Property related conditions of the Loan Commitment have not been met (except when such conditions 97 are waived. by other provisions of this Contract) ; (3) appraisal of the Property. obtained by. Buyer's lenderas . ae insufficient to meet terms of the Loan Commitment; or (4) the loan is not funded due to financiat failure of sa Buyer's lender, in which event(s) the Deposit shall be returned to Buyer, thereby releasing Buyer and Seiler 100 from allfucther obligations underthis Contract. 101• ❑ (c) Assumption of existing mortgage (see rider for terms). 102• ❑ (d) Purchase money note and mortgage to Seller (see riders; addenda; or special clauses for terms) . Buyer's initlais � . Page 2 of 10 Seller's Initials FlorldeResltors/FloridCG8 r-ASIS•1 Rev. 6110 ® 2010 Florida Realtors® and The Florida Bar. AU rights reserved. i _