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I a <br /> U.S. DEPARTMENT OF VETERANS AFFAIRS (VA) ! FEDERAL HOUSING ADMINISTRATION (FHA)(continued) <br /> Buyer's initials - Seller's initials ; If to be made a part of the Contract . <br /> (b) Appraisal Repairs: If the cost of Appraisal Repairs exceeds the limit imposed by Paragraph 2 above, Seller must, within 3 <br />days <br /> after receiving notice of the excess cost , give Purchaser written notice of Seller 's intention to pay some, all , or none of the <br /> excess <br /> amount. If Seller elects to pay less than the full amount of the excess cost, Purchaser may elect to pay the balance or cancel <br />the <br /> Contract . Purchaser's election must be in writing and provided to Seller within 3 days after receiving written notice of Seller's <br /> election . <br /> 5 . ELECTION TO PROCEED WITH CONTRACT, In the event Purchaser elects under Paragraph 3 or 4 above to proceed with the <br /> Contract without regard to the amount of reasonable value established by the Federal Housing Commissioner, U. S . Department of <br /> Veterans Affairs, or Direct Endorsement lender, such election must be made within 3 days after Purchaser receives the appraisal <br />. (If <br /> Purchaser and Seller agree to adjust the sales price in response to an appraised value which is less than the sales price, <br /> a new <br /> Rider is not required . However, the loan application package must include the original sales contract with the same price <br />as shown <br /> on the above clause, along with the revised or amended sales contract .) <br /> Buyer/Purchaser Date Seller Date <br /> Buyer/Purchaser Date Seller Date <br /> Broker/Purchaser Date Broker Date <br /> FBCR-10 Rev. 1 /09 © 2009 Florida Association of REALTORS" and The Florida Bar All Rights Reserved <br /> Page of Comprehensive Rider to the FAR/BAR Contract for Sale and Purchase <br />