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Appendix A Indian River County Neighborhood Stabilization Program 3 Indian River Habitat for Humanity Property Option Contract Addendum This Neighborhood Stabilization Program Addendum ( Addendum ) is to be made part of the Purchase Agreement ( Agreement ) dated a 20__, between ( Seller) and Indian River Habitat for Humanity ( Buyer ) , for the property located at : FL , ( the Property ) . A. Purchase Discount The Buyer ' s obligation to close this transaction with federal assistance is expressly contingent upon the results of an appraisal ordered by Indian River Habitat for Humanity . The Buyer is using certain federal funds that require the purchase price to be at or below ninety nine percent ( 99 % ) of the appraised value of the optioned property based upon an appraisal ordered by Indian River Habitat for Humanity . During the due diligence period agreed to in the "As Is Contract for Sale and Purchase" , the Buyer shall be allowed to cancel this agreement based upon the appraisal if the condition described herein cannot be met, in which event this Agreement will be null and void and the Seller shall return all earnest money to the Buyer . Be Environmental Review Notwithstanding any provision of this Agreement, the parties hereto agree and acknowledge that this Agreement does not constitute a commitment of funds or site approval , and that such commitment of funds or approval may occur only upon satisfactory completion of an environmental review and receipt of an environmental clearance by Indian River County under 24 CFR Part § 58 . The parties further agree that the provision of any funds to the purchase is conditioned on Indian River County ' s determination to proceed with , modify or cancel the purchase based on the results of said environmental review . Further, the buyer shall not undertake or commit any funds to physical or choice - limiting actions , including property acquisition , demolition , movement, rehabilitations , conversion , repair, construction , or execution of a construction contract prior to the environmental clearance, as denial of any funds to purchase may result . C . Minimum Property Standards During the due diligence period , Seller shall allow Buyer to complete one or more inspections of the property to establish if the property will meet the Neighborhood Stabilization Program Standards . If Buyer determines that the property does not meet the Standards, Buyer shall have the right to cancel this Agreement, in which event, this Agreement will be null and void and the Seller shall return all earnest money to Buyer . Seller ' s Initials Buyer ' s Initials 24