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Property Address:
Seller(s): Buyer(s):
Referral Information
Company/Agent/Address How Much?
Attach with this sheet fully executed copies of the contract, property disclosures and lead-based paint disclosures (if
applicable). Incomplete submissions will be returned to the agent for completion.
Earnest Money checks CANNOT be deposited without a complete W-9 Form
REV 6/1/05
Form
(Rev. October 2007)
W-9 Request for Taxpayer Give form to the
requester. Do not
Department of the Treasury
Identification Number and Certification send to the IRS.
Internal Revenue Service
Name (as shown on your income tax return)
See Specific Instructions on page 2.
Address (number, street, and apt. or suite no.) Requester’s name and address (optional)
Enter your TIN in the appropriate box. The TIN provided must match the name given on Line 1 to avoid Social security number
backup withholding. For individuals, this is your social security number (SSN). However, for a resident
alien, sole proprietor, or disregarded entity, see the Part I instructions on page 3. For other entities, it is
your employer identification number (EIN). If you do not have a number, see How to get a TIN on page 3. or
Note. If the account is in more than one name, see the chart on page 4 for guidelines on whose Employer identification number
number to enter.
Part II Certification
Under penalties of perjury, I certify that:
1. The number shown on this form is my correct taxpayer identification number (or I am waiting for a number to be issued to me), and
2. I am not subject to backup withholding because: (a) I am exempt from backup withholding, or (b) I have not been notified by the Internal
Revenue Service (IRS) that I am subject to backup withholding as a result of a failure to report all interest or dividends, or (c) the IRS has
notified me that I am no longer subject to backup withholding, and
3. I am a U.S. citizen or other U.S. person (defined below).
Certification instructions. You must cross out item 2 above if you have been notified by the IRS that you are currently subject to backup
withholding because you have failed to report all interest and dividends on your tax return. For real estate transactions, item 2 does not apply.
For mortgage interest paid, acquisition or abandonment of secured property, cancellation of debt, contributions to an individual retirement
arrangement (IRA), and generally, payments other than interest and dividends, you are not required to sign the Certification, but you must
provide your correct TIN. See the instructions on page 4.
Sign Signature of
Here U.S. person © Date ©
General Instructions Definition of a U.S. person. For federal tax purposes, you are
considered a U.S. person if you are:
Section references are to the Internal Revenue Code unless
otherwise noted. ● An individual who is a U.S. citizen or U.S. resident alien,
● A partnership, corporation, company, or association created or
Purpose of Form organized in the United States or under the laws of the United
A person who is required to file an information return with the States,
IRS must obtain your correct taxpayer identification number (TIN) ● An estate (other than a foreign estate), or
to report, for example, income paid to you, real estate ● A domestic trust (as defined in Regulations section
transactions, mortgage interest you paid, acquisition or 301.7701-7).
abandonment of secured property, cancellation of debt, or
Special rules for partnerships. Partnerships that conduct a
contributions you made to an IRA.
trade or business in the United States are generally required to
Use Form W-9 only if you are a U.S. person (including a pay a withholding tax on any foreign partners’ share of income
resident alien), to provide your correct TIN to the person from such business. Further, in certain cases where a Form W-9
requesting it (the requester) and, when applicable, to: has not been received, a partnership is required to presume that
1. Certify that the TIN you are giving is correct (or you are a partner is a foreign person, and pay the withholding tax.
waiting for a number to be issued), Therefore, if you are a U.S. person that is a partner in a
partnership conducting a trade or business in the United States,
2. Certify that you are not subject to backup withholding, or provide Form W-9 to the partnership to establish your U.S.
3. Claim exemption from backup withholding if you are a U.S. status and avoid withholding on your share of partnership
exempt payee. If applicable, you are also certifying that as a income.
U.S. person, your allocable share of any partnership income from The person who gives Form W-9 to the partnership for
a U.S. trade or business is not subject to the withholding tax on purposes of establishing its U.S. status and avoiding withholding
foreign partners’ share of effectively connected income. on its allocable share of net income from the partnership
Note. If a requester gives you a form other than Form W-9 to conducting a trade or business in the United States is in the
request your TIN, you must use the requester’s form if it is following cases:
substantially similar to this Form W-9.
● The U.S. owner of a disregarded entity and not the entity,
Cat. No. 10231X Form W-9 (Rev. 10-2007)
Form W-9 (Rev. 10-2007) Page 2
● The U.S. grantor or other owner of a grantor trust and not the 4. The IRS tells you that you are subject to backup
trust, and withholding because you did not report all your interest and
● The U.S. trust (other than a grantor trust) and not the dividends on your tax return (for reportable interest and
beneficiaries of the trust. dividends only), or
Foreign person. If you are a foreign person, do not use Form 5. You do not certify to the requester that you are not subject
W-9. Instead, use the appropriate Form W-8 (see Publication to backup withholding under 4 above (for reportable interest and
515, Withholding of Tax on Nonresident Aliens and Foreign dividend accounts opened after 1983 only).
Entities). Certain payees and payments are exempt from backup
withholding. See the instructions below and the separate
Nonresident alien who becomes a resident alien. Generally, Instructions for the Requester of Form W-9.
only a nonresident alien individual may use the terms of a tax
treaty to reduce or eliminate U.S. tax on certain types of income. Also see Special rules for partnerships on page 1.
However, most tax treaties contain a provision known as a
“saving clause.” Exceptions specified in the saving clause may
Penalties
permit an exemption from tax to continue for certain types of Failure to furnish TIN. If you fail to furnish your correct TIN to a
income even after the payee has otherwise become a U.S. requester, you are subject to a penalty of $50 for each such
resident alien for tax purposes. failure unless your failure is due to reasonable cause and not to
If you are a U.S. resident alien who is relying on an exception willful neglect.
contained in the saving clause of a tax treaty to claim an Civil penalty for false information with respect to
exemption from U.S. tax on certain types of income, you must withholding. If you make a false statement with no reasonable
attach a statement to Form W-9 that specifies the following five basis that results in no backup withholding, you are subject to a
items: $500 penalty.
1. The treaty country. Generally, this must be the same treaty Criminal penalty for falsifying information. Willfully falsifying
under which you claimed exemption from tax as a nonresident certifications or affirmations may subject you to criminal
alien. penalties including fines and/or imprisonment.
2. The treaty article addressing the income. Misuse of TINs. If the requester discloses or uses TINs in
3. The article number (or location) in the tax treaty that violation of federal law, the requester may be subject to civil and
contains the saving clause and its exceptions. criminal penalties.
4. The type and amount of income that qualifies for the
exemption from tax. Specific Instructions
5. Sufficient facts to justify the exemption from tax under the Name
terms of the treaty article.
If you are an individual, you must generally enter the name
Example. Article 20 of the U.S.-China income tax treaty allows
shown on your income tax return. However, if you have changed
an exemption from tax for scholarship income received by a
your last name, for instance, due to marriage without informing
Chinese student temporarily present in the United States. Under
the Social Security Administration of the name change, enter
U.S. law, this student will become a resident alien for tax
your first name, the last name shown on your social security
purposes if his or her stay in the United States exceeds 5
card, and your new last name.
calendar years. However, paragraph 2 of the first Protocol to the
U.S.-China treaty (dated April 30, 1984) allows the provisions of If the account is in joint names, list first, and then circle, the
Article 20 to continue to apply even after the Chinese student name of the person or entity whose number you entered in Part I
becomes a resident alien of the United States. A Chinese of the form.
student who qualifies for this exception (under paragraph 2 of Sole proprietor. Enter your individual name as shown on your
the first protocol) and is relying on this exception to claim an income tax return on the “Name” line. You may enter your
exemption from tax on his or her scholarship or fellowship business, trade, or “doing business as (DBA)” name on the
income would attach to Form W-9 a statement that includes the “Business name” line.
information described above to support that exemption.
Limited liability company (LLC). Check the “Limited liability
If you are a nonresident alien or a foreign entity not subject to company” box only and enter the appropriate code for the tax
backup withholding, give the requester the appropriate classification (“D” for disregarded entity, “C” for corporation, “P”
completed Form W-8. for partnership) in the space provided.
What is backup withholding? Persons making certain payments For a single-member LLC (including a foreign LLC with a
to you must under certain conditions withhold and pay to the domestic owner) that is disregarded as an entity separate from
IRS 28% of such payments. This is called “backup withholding.” its owner under Regulations section 301.7701-3, enter the
Payments that may be subject to backup withholding include owner’s name on the “Name” line. Enter the LLC’s name on the
interest, tax-exempt interest, dividends, broker and barter “Business name” line.
exchange transactions, rents, royalties, nonemployee pay, and
certain payments from fishing boat operators. Real estate For an LLC classified as a partnership or a corporation, enter
transactions are not subject to backup withholding. the LLC’s name on the “Name” line and any business, trade, or
DBA name on the “Business name” line.
You will not be subject to backup withholding on payments
you receive if you give the requester your correct TIN, make the Other entities. Enter your business name as shown on required
proper certifications, and report all your taxable interest and federal tax documents on the “Name” line. This name should
dividends on your tax return. match the name shown on the charter or other legal document
creating the entity. You may enter any business, trade, or DBA
Payments you receive will be subject to backup name on the “Business name” line.
withholding if: Note. You are requested to check the appropriate box for your
1. You do not furnish your TIN to the requester, status (individual/sole proprietor, corporation, etc.).
2. You do not certify your TIN when required (see the Part II Exempt Payee
instructions on page 3 for details),
3. The IRS tells the requester that you furnished an incorrect If you are exempt from backup withholding, enter your name as
TIN, described above and check the appropriate box for your status,
then check the “Exempt payee” box in the line following the
business name, sign and date the form.
Form W-9 (Rev. 10-2007) Page 3
Generally, individuals (including sole proprietors) are not exempt Part I. Taxpayer Identification
from backup withholding. Corporations are exempt from backup
withholding for certain payments, such as interest and dividends. Number (TIN)
Note. If you are exempt from backup withholding, you should Enter your TIN in the appropriate box. If you are a resident
still complete this form to avoid possible erroneous backup alien and you do not have and are not eligible to get an SSN,
withholding. your TIN is your IRS individual taxpayer identification number
The following payees are exempt from backup withholding: (ITIN). Enter it in the social security number box. If you do not
have an ITIN, see How to get a TIN below.
1. An organization exempt from tax under section 501(a), any
IRA, or a custodial account under section 403(b)(7) if the account If you are a sole proprietor and you have an EIN, you may
satisfies the requirements of section 401(f)(2), enter either your SSN or EIN. However, the IRS prefers that you
use your SSN.
2. The United States or any of its agencies or If you are a single-member LLC that is disregarded as an
instrumentalities, entity separate from its owner (see Limited liability company
3. A state, the District of Columbia, a possession of the United (LLC) on page 2), enter the owner’s SSN (or EIN, if the owner
States, or any of their political subdivisions or instrumentalities, has one). Do not enter the disregarded entity’s EIN. If the LLC is
4. A foreign government or any of its political subdivisions, classified as a corporation or partnership, enter the entity’s EIN.
agencies, or instrumentalities, or Note. See the chart on page 4 for further clarification of name
5. An international organization or any of its agencies or and TIN combinations.
instrumentalities. How to get a TIN. If you do not have a TIN, apply for one
immediately. To apply for an SSN, get Form SS-5, Application
Other payees that may be exempt from backup withholding for a Social Security Card, from your local Social Security
include: Administration office or get this form online at www.ssa.gov. You
6. A corporation, may also get this form by calling 1-800-772-1213. Use Form
7. A foreign central bank of issue, W-7, Application for IRS Individual Taxpayer Identification
8. A dealer in securities or commodities required to register in Number, to apply for an ITIN, or Form SS-4, Application for
the United States, the District of Columbia, or a possession of Employer Identification Number, to apply for an EIN. You can
the United States, apply for an EIN online by accessing the IRS website at
www.irs.gov/businesses and clicking on Employer Identification
9. A futures commission merchant registered with the Number (EIN) under Starting a Business. You can get Forms W-7
Commodity Futures Trading Commission, and SS-4 from the IRS by visiting www.irs.gov or by calling
10. A real estate investment trust, 1-800-TAX-FORM (1-800-829-3676).
11. An entity registered at all times during the tax year under If you are asked to complete Form W-9 but do not have a TIN,
the Investment Company Act of 1940, write “Applied For” in the space for the TIN, sign and date the
form, and give it to the requester. For interest and dividend
12. A common trust fund operated by a bank under section payments, and certain payments made with respect to readily
584(a), tradable instruments, generally you will have 60 days to get a
13. A financial institution, TIN and give it to the requester before you are subject to backup
14. A middleman known in the investment community as a withholding on payments. The 60-day rule does not apply to
nominee or custodian, or other types of payments. You will be subject to backup
withholding on all such payments until you provide your TIN to
15. A trust exempt from tax under section 664 or described in the requester.
section 4947.
Note. Entering “Applied For” means that you have already
The chart below shows types of payments that may be applied for a TIN or that you intend to apply for one soon.
exempt from backup withholding. The chart applies to the Caution: A disregarded domestic entity that has a foreign owner
exempt payees listed above, 1 through 15. must use the appropriate Form W-8.
IF the payment is for . . . THEN the payment is exempt Part II. Certification
for . . .
To establish to the withholding agent that you are a U.S. person,
Interest and dividend payments All exempt payees except or resident alien, sign Form W-9. You may be requested to sign
for 9 by the withholding agent even if items 1, 4, and 5 below indicate
Broker transactions Exempt payees 1 through 13. otherwise.
Also, a person registered under For a joint account, only the person whose TIN is shown in
the Investment Advisers Act of Part I should sign (when required). Exempt payees, see Exempt
1940 who regularly acts as a Payee on page 2.
broker Signature requirements. Complete the certification as indicated
Barter exchange transactions Exempt payees 1 through 5 in 1 through 5 below.
and patronage dividends 1. Interest, dividend, and barter exchange accounts
opened before 1984 and broker accounts considered active
Payments over $600 required Generally, exempt
2
payees during 1983. You must give your correct TIN, but you do not
to be reported and direct 1 through 7 have to sign the certification.
1
sales over $5,000
2. Interest, dividend, broker, and barter exchange
1 accounts opened after 1983 and broker accounts considered
See Form 1099-MISC, Miscellaneous Income, and its instructions.
2 inactive during 1983. You must sign the certification or backup
However, the following payments made to a corporation (including gross
proceeds paid to an attorney under section 6045(f), even if the attorney is a
withholding will apply. If you are subject to backup withholding
corporation) and reportable on Form 1099-MISC are not exempt from and you are merely providing your correct TIN to the requester,
backup withholding: medical and health care payments, attorneys’ fees, and you must cross out item 2 in the certification before signing the
payments for services paid by a federal executive agency. form.
Form W-9 (Rev. 10-2007) Page 4
3. Real estate transactions. You must sign the certification. Secure Your Tax Records from Identity Theft
You may cross out item 2 of the certification.
Identity theft occurs when someone uses your personal
4. Other payments. You must give your correct TIN, but you information such as your name, social security number (SSN), or
do not have to sign the certification unless you have been other identifying information, without your permission, to commit
notified that you have previously given an incorrect TIN. “Other fraud or other crimes. An identity thief may use your SSN to get
payments” include payments made in the course of the a job or may file a tax return using your SSN to receive a refund.
requester’s trade or business for rents, royalties, goods (other
than bills for merchandise), medical and health care services To reduce your risk:
(including payments to corporations), payments to a ● Protect your SSN,
nonemployee for services, payments to certain fishing boat crew ● Ensure your employer is protecting your SSN, and
members and fishermen, and gross proceeds paid to attorneys ● Be careful when choosing a tax preparer.
(including payments to corporations).
Call the IRS at 1-800-829-1040 if you think your identity has
5. Mortgage interest paid by you, acquisition or been used inappropriately for tax purposes.
abandonment of secured property, cancellation of debt,
qualified tuition program payments (under section 529), IRA, Victims of identity theft who are experiencing economic harm
Coverdell ESA, Archer MSA or HSA contributions or or a system problem, or are seeking help in resolving tax
distributions, and pension distributions. You must give your problems that have not been resolved through normal channels,
correct TIN, but you do not have to sign the certification. may be eligible for Taxpayer Advocate Service (TAS) assistance.
You can reach TAS by calling the TAS toll-free case intake line
at 1-877-777-4778 or TTY/TDD 1-800-829-4059.
What Name and Number To Give the Requester
Protect yourself from suspicious emails or phishing
For this type of account: Give name and SSN of: schemes. Phishing is the creation and use of email and
websites designed to mimic legitimate business emails and
1. Individual The individual
websites. The most common act is sending an email to a user
2. Two or more individuals (joint The actual owner of the account or,
account) if combined funds, the first
falsely claiming to be an established legitimate enterprise in an
individual on the account
1
attempt to scam the user into surrendering private information
3. Custodian account of a minor The minor
2 that will be used for identity theft.
(Uniform Gift to Minors Act)
1
The IRS does not initiate contacts with taxpayers via emails.
4. a. The usual revocable savings The grantor-trustee Also, the IRS does not request personal detailed information
trust (grantor is also trustee) through email or ask taxpayers for the PIN numbers, passwords,
1
b. So-called trust account that is The actual owner or similar secret access information for their credit card, bank, or
not a legal or valid trust under other financial accounts.
state law
5. Sole proprietorship or disregarded The owner
3
If you receive an unsolicited email claiming to be from the IRS,
entity owned by an individual forward this message to phishing@irs.gov. You may also report
Give name and EIN of:
misuse of the IRS name, logo, or other IRS personal property to
For this type of account:
the Treasury Inspector General for Tax Administration at
6. Disregarded entity not owned by an The owner 1-800-366-4484. You can forward suspicious emails to the
individual Federal Trade Commission at: spam@uce.gov or contact them at
4
7. A valid trust, estate, or pension trust Legal entity www.consumer.gov/idtheft or 1-877-IDTHEFT(438-4338).
8. Corporate or LLC electing The corporation
corporate status on Form 8832 Visit the IRS website at www.irs.gov to learn more about
9. Association, club, religious, The organization identity theft and how to reduce your risk.
charitable, educational, or other
tax-exempt organization
10. Partnership or multi-member LLC The partnership
11. A broker or registered nominee The broker or nominee
12. Account with the Department of The public entity
Agriculture in the name of a public
entity (such as a state or local
government, school district, or
prison) that receives agricultural
program payments
1
List first and circle the name of the person whose number you furnish. If only one person
on a joint account has an SSN, that person’s number must be furnished.
2
Circle the minor’s name and furnish the minor’s SSN.
3
You must show your individual name and you may also enter your business or “DBA”
name on the second name line. You may use either your SSN or EIN (if you have one),
but the IRS encourages you to use your SSN.
4
List first and circle the name of the trust, estate, or pension trust. (Do not furnish the TIN
of the personal representative or trustee unless the legal entity itself is not designated in
the account title.) Also see Special rules for partnerships on page 1.
Seller Client(s):
Buyer Client(s):
Broker:
Date: Date:
REV 03/02
Phone: Fax:
Produced with ZipForm™ by RE FormsNet, LLC 18025 Fifteen Mile Road, Clinton Township, Michigan 48035, (800) 383-9805 www.zipform.com
RIDER 5
INTEREST BEARING ACCOUNT
Rev. 01/2008
This Interest Bearing Account Rider ("Rider") is made a part of and incorporated into that certain real
estate contract between ______________________________________________________ ("Buyer") and
______________________________________________________ ("Seller") on ____________________, 20____
("Contract") for the purchase and sale of the property commonly known as
__________________________________________________________________________________ ("Property").
(address) (unit #) (city) (state) (zip)
Buyer and Seller acknowledge and agree that the total Earnest Money in the amount of $____________
shall bear interest for the benefit of the party listed on the W-9 form below.
__________________________________________ ___________________________________________
Buyer's Signature Date Seller's Signature Date
__________________________________________ ___________________________________________
Buyer's Signature Date Seller's Signature Date
# 5006678_v1
CHICAGO ASSOCIATION OF REALTORS®
CONDOMINIUM REAL ESTATE PURCHASE AND SALE CONTRACT
(including condominium townhomes)
Rev. 01/2008
1 1. Contract. This Condominium Real Estate Purchase and Sale Contract ("Contract") is made by and between _________________________________
2 _____________________________________________________________ ("Buyer") and ________________________________________________________________
3 ("Seller") (collectively, "Parties"), with respect to the purchase and sale of the real estate and improvements located at
4 _______________________________________________________________________________________________________________________________ ("Property").
5 (address) (unit #) (city) (state) (zip)
6 The Property P.I.N. # is _____________________________________________. Approximate square feet of Property(excluding parking):__________________.
7 The Property includes parking space number(s) ______________________________, which is (check all that apply) ____ deeded; ____ limited common
8 element; ___ assigned; ___ indoor; ____ outdoor. If deeded, the parking P.I.N. # is:_______________________________________________________________.
9 2. Fixtures and Personal Property. At Closing (as defined in Paragraph 7 of this Contract), in addition to the Property, Seller shall transfer to
10 Buyer by a Bill of Sale, all heating, cooling, electrical and plumbing systems, together with the following checked and enumerated items ("Fixtures
11 and Personal Property"):
12 Refrigerator___ Sump Pump___ Central air conditioner__ Fireplace screen Built-in or attached
13 Oven/Range___ Smoke and carbon monoxide Window air conditioner__ and equipment___ shelves or cabinets___
14 Microwave___ detectors___ Electronic air filter___ Fireplace gas log___ Ceiling fan___
15 Dishwasher___ Intercom system___ Central humidifier___ Firewood___ Radiator covers___
16 Garbage disposal___ Security system___ (rented or owned) (strike one) Attached gas grill__ All planted vegetation___
17 Trash compactor___ Satellite Dish__ Lighting fixtures___ Existing storms Outdoor play set/swings__
18 Washer__ T.V. antenna___ Electronic garage door(s) and screens___ Outdoor shed___
19 Dryer___ LCD/plasma/multimedia equipment__ with ___ remote unit(s)__ Window treatments___
20 Water Softener__ Stereo speakers/surround sound___ Wall-to-wall carpeting___ Home warranty (as attached)___
21 Seller also transfers the following:__________________________________. The following items are excluded:__________________________________________.
22 3. Purchase Price. The purchase price for the Property is $__________________________ (including the parking space, if any, Fixtures and Personal
23 Property) ("Purchase Price").
24 4. Earnest Money. Upon Buyer's execution of this Contract, Buyer shall deposit with ____________________________________________________
25 ("Escrowee"), initial earnest money in the amount of $__________________, in the form of ___________________________________ ("Initial Earnest
26 Money"). The Initial Earnest Money shall be returned and this Contract shall be of no force or effect if this Contract is not accepted by Seller on or
27 before ________________________, 20___. The Initial Earnest Money shall be increased to (strike one) 10% of the Purchase Price OR
28 $_________________ ("Final Earnest Money") within ________ business days after the expiration of the Attorney Approval Period (as established in
29 Paragraph 13 of this Contract) (the Initial and Final Earnest Money are together referred to as the "Earnest Money"). The Parties acknowledge and
30 agree that (i) the Parties shall execute all necessary documents with respect to the Earnest Money in form and content mutually agreed upon between
31 the parties and (ii) except as otherwise agreed, Buyer shall pay all expenses with respect to the Earnest Money.
32 5. Mortgage Contingency. This Contract is contingent upon Buyer securing by ________________________, 20____ ("First Commitment Date") a
33 firm written mortgage commitment for a fixed rate or an adjustable rate mortgage permitted to be made by a U.S. or Illinois savings and loan
34 association, bank, or other authorized financial institution, in the amount of $__________________, the interest rate (or initial interest rate if an
35 adjustable rate mortgage) not to exceed _______% per year, amortized over ______ years, payable monthly, loan fee not to exceed _______%, plus
36 appraisal and credit report fee, if any ("Required Commitment"). If the mortgage secured by the Required Commitment has a balloon payment, it
37 shall be due no sooner than ______ years. Buyer shall pay for private mortgage insurance as required by the lending institution. If a FHA or VA
38 mortgage is to be obtained, Rider 8, Rider 9, or the HUD Rider shall be attached to this Contract. (1) If Buyer is unable to obtain the Required
39 Commitment by the First Commitment Date, Buyer shall so notify Seller in writing on or before that Date. Thereafter, Seller may, within 30 business
40 days after the First Commitment Date ("Second Commitment Date"), secure the Required Commitment for Buyer upon the same terms, and may
41 extend the Closing Date by 30 business days. The Required Commitment may be given by Seller or a third party. Buyer shall furnish all requested
42 credit information, sign customary documents relating to the application and securing of the Required Commitment, and pay one application fee as
43 directed by Seller. Should Seller choose not to secure the Required Commitment for Buyer, this Contract shall be null and void as of the First
44 Commitment Date, and the Earnest Money shall be returned to Buyer. (2) If Buyer notifies Seller on or before the First Commitment Date that Buyer
45 has been unable to obtain the Required Commitment, and neither Buyer nor Seller secures the Required Commitment on or before the Second
46 Commitment Date, this Contract shall be null and void and the Earnest Money shall be returned to Buyer. (3) If Buyer does not provide any notice to
47 Seller by the First Commitment Date, Buyer shall be deemed to have waived this contingency and this Contract shall remain in full force and effect.
48 6. Possession. Seller agrees to surrender possession of the Property on or before the Closing Date (as defined in Paragraph 7 below). If possession
49 is not delivered on or prior to the Closing Date, then, Seller shall pay to Buyer at Closing $________________ per day ("Use/Occupancy Payments") for
50 Seller's use and occupancy of the Property for each day after the Closing Date through and including the date Seller plans to deliver possession to
51 Buyer ("Possession Date"). If Seller delivers possession of the Property to Buyer prior to the Possession Date, Buyer shall refund the portion of
52 Use/Occupancy Payments which extend beyond the date possession is actually surrendered. Additionally, Seller shall deposit with Escrowee a sum
53 equal to 2% of the Purchase Price ("Possession Escrow") to guarantee possession on or before the Possession Date, which sum shall be held from the
54 net proceeds at Closing on Escrowee's form of receipt. If Seller does not surrender the Property on the Possession Date, Seller shall pay to Buyer, in
55 addition to all Use/Occupancy Payments, the sum of 10% of the original amount of the Possession Escrow per day up to and including the day
56 possession is surrendered to Buyer plus any unpaid Use/Occupancy Payments up to and including the date possession is surrendered, these amounts to
57 be paid out of the Possession Escrow and the balance, if any, to be returned to Seller. Acceptance of payments by Buyer shall not limit Buyer's other
58 legal remedies. Seller and Buyer hereby acknowledge that Escrowee shall not distribute the Possession Escrow without the joint written direction of
59 Seller and Buyer. If either Party objects to disposition of the Possession Escrow, then Escrowee may deposit the Possession Escrow with the Clerk of
60 the Circuit Court by the filing of an action in the nature of an Interpleader. Escrowee shall be reimbursed from the Possession Escrow for all costs,
61 including reasonable attorneys' fees, related to the filing of the Interpleader, and the Parties shall indemnify and hold Escrowee harmless from any and
62 all claims and demands, including the payment of reasonable attorneys' fees, costs, and expenses.
140 The names and addresses set forth below are for informational purposes The names and addresses set forth below are for informational purposes
141 only and subject to change. only and subject to change.
161 Lender:
165 Fax:
166 Email: