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2011-229
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2011-229
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Last modified
2/18/2016 11:05:47 AM
Creation date
10/1/2015 3:00:22 AM
Metadata
Fields
Template:
Official Documents
Official Document Type
Addendum
Approved Date
11/08/2011
Control Number
2011-229
Agenda Item Number
13.C.
Entity Name
GMAC Rescap
Subject
Addendum to Purchase Contract
Contract approved 11/01/2011
Area
6885 66th Avenue
Alternate Name
ResCap Loudermilk
Supplemental fields
SmeadsoftID
10315
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Property, which claim is made by Buyer, or any person Buyer allows to reside in or. AWiriAb prop ety or <br /> collie in contact with the Property . This provision shall survive delivery of the Deed and the closing/fiundung. <br /> d . Buyer has read and understands such waivers, has voluntarily and knowingly consented to such waivers and <br /> agrees to bind thereby . <br /> 15 , CLOSING : <br /> a. Either Seller and/or Buyer shall pay recording fees, escrow fees and other customary closing costs in the <br /> manner customary for residential real estate transactions in the metropolitan area or city in which the <br /> Property is located. <br /> b. Buyer understands and agrees that Seller may have entered into an arrangement with several title/closirng <br /> companies for providing discounted title and escrow/closing services to Buyer and Seller . Seller assumes no <br /> liability for any actions or the failure to act by any title and/or escrow/closing company in connection with <br /> title and/or escrow/closing services provided to Buyer and/or Seller. Seller shall determine the physical <br /> location for the close of escrow. <br /> c . All closing and repair figures must be confirmed and approved by Seller or their closing agent in writing <br /> preferably forty - eight (48) hours in advance of closing. Closing date and time must be scheduled as soon as <br /> possible. <br /> 16 . REAL ESTATE COMMISSION : Seller shall pay a real estate commission pursuant to the listing Addendum <br /> between Seller and Seller' s listing broker. Seller will pay no other commissions . Commission to be paid on <br /> $139000 .00 amount for commissions in accordance with the listing Addendum between Seller and Seller's <br /> listing broker and such commission shall only be deemed earned upon the closing and funding of this purchase <br /> transaction, <br /> 17 . SETTLEMENT AS FINAL: <br /> a. Buyer ' s failure to notify Seller in writing of any defects within the time limits provided in this Addendum, <br /> and/or <br /> b. Acceptance of the Deed at settlement shall constitute Buyer ' s full acceptance of the condition of the Property <br /> and a waiver of Buyer ' s right to object to its condition or assert any claim related to the Property at any time <br /> in the future. <br /> e. This provision shall survive delivery of the Deed and the closing/funding. <br /> 18 . POSSESSION : <br /> a . Possession sliall be given to the Buyers at closing and fiunding . Buyer may not alter the Property, store <br /> anything on/in the Property, occupy the Property or permit others to use or occupy the Property prior to <br /> closing and finding unless approved in advance and in writing by Seller. <br /> b . Seller will provide keys in Seller's possession . Buyer is informed the Property is on a master key system. It <br /> is Buyer ' s responsibility to re-key the Property after finding. Garage door transmitters, security gate keys <br /> and/or cards, and mailbox key are not included in purchase price. <br /> c. OCCUPANCY AND STATUS OF PROPERTY: Seller, its representatives, agents and assigns shall not be <br /> responsible for evicting or relocating any tenants or occupants or personal property at the Property prior to or <br /> subsequent to the closing and funding unless otherwise specifically agreed to un writing by Seller. <br /> i . Seller has no knowledge of security deposits and thus none will be transferred to Buyer at closing. <br /> Ii. Buyer agrees to assume all responsibility and liability for the refiund of any security deposits to the <br /> tenants pursuant to the provisions of applicable laws and regulations and shall indemnify , defend and <br /> hold Seller harmless for any claims, litigation , costs, damages or expenses related to any dispute in <br /> connection with any security deposit after the closing and finding date . <br /> iii • All rent due, payable, and collected from tenants for the month in which the closing and funding date <br /> occurs will not be prorated . <br /> iv . Buyer acknowledges and agrees that the Property may be subject to the provisions of local rent <br /> control ordinances and regulations. <br /> VA Buyer agrees that as of the closing and funding date all eviction proceedings and other duties and <br /> responsibilities of a property owner and landlord, including but not limited to those proceedings <br /> required for compliance with such local rent control ordinances and regulations, shall be Buyer' s <br /> sole responsibility and at Buyer' s sole cost. <br /> Buyer and Seller acknowledge receipt of a copy of this page, which constitutes Page Sof 1 l pagx (J, <br /> I <br /> Seller 's (ir 's X Initials <br /> Buyer 's Initials <br /> EQUATOR PROPRIETARY, CON Fl DENTIAL AND TRADE SECRET INFORI.IATION. This document contains proprietary and confidenllal information that Is legally privllegedAny <br /> disclosure, copying, <br /> AI..I.:A..Itw.. ^A ...... ..( .. .•� . w( ll.w Iwfw..w..11ww nw ..Iw1w+.! 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