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244 forth in §25 and, except as provided in §24(Earnest Money Dispute), if the Earnest Money has not already been <br /> 245 returned following receipt of a Notice to Terminate, Seller agrees to execute and return to Buyer or Broker working <br /> 247 with Buyer, written mutual instructions e. Earnest Money Release form within three days of Seller's receipt of <br /> 247 Y ( 9�, Y ), Y P <br /> 248 such form. <br /> 249 4.4. Form of Funds; Time of Payment; Available Funds. <br /> 250 4.4.1. Good Funds.All amounts payable by the parties at Closing, including any loan <br /> 251 proceeds, Cash at Closing and closing costs, must be in funds that comply with all applicable Colorado laws, <br /> z5z p 9 9 P Y pp <br /> 253 including electronic transfer funds, certified check, savings and loan teller's check and cashier's check (Good <br /> 254 Funds). <br /> 255 4.4.2. Time of Payment; Available Funds.All funds, including the Purchase Price to be paid <br /> 257 b Buyer, must be aid before or at Closing or as otherwise agreed in writing between the parties to allow <br /> 257 Y Y p 9 9 9 <br /> 258 disbursement by Closing Company at Closing OR SUCH NONPAYING PARTY WILL BE IN DEFAULT. Buyer <br /> 259 represents that Buyer, as of the date of this Contract, ❑ Does®Does Not have funds that are immediately <br /> 260 verifiable and available in an amount not less than the amount stated as Cash at Closing in § 4.1. <br /> 261 <br /> 262 4.5. New Loan. (Omitted as inapplicable) <br /> 263 <br /> 26 <br /> 265 4.6. Assumption. (Omitted as inapplicable) <br /> 266 <br /> 267 4.7. Seller or Private Financing. (Omitted as inapplicable) <br /> 268 <br /> 269 <br /> 27 <br /> 271 TRANSACTION PROVISIONS <br /> 272 <br /> 273 <br /> 274 5. FINANCING CONDITIONS AND OBLIGATIONS. (Omitted as inapplicable) <br /> 275 <br /> 276 <br /> 277 5.3. Credit Information and Buyer's New Senior Loan. (Omitted as inapplicable) <br /> 278 <br /> 279 <br /> 280 5.4. Existing Loan Review. (Omitted as inapplicable) <br /> 281 <br /> 282 6. APPRAISAL PROVISIONS. <br /> 283 <br /> 284 6.1. Appraisal Definition.An "Appraisal" is an opinion of value prepared by a licensed or certified <br /> 285 appraiser, engaged on behalf of Buyer or Buyer's lender, to determine the Property's market value (Appraised <br /> 286 Value). The Appraisal may also set forth certain lender requirements, replacements, removals or repairs necessary <br /> 287 on or to the Property as a condition for the Property to be valued at the Appraised Value. <br /> 288 <br /> 289 6.2. Appraisal Condition.The applicable appraisal provision set forth below applies to the respective <br /> 290 loan type set forth in §4.5.3, or if a cash transaction (i.e. no financing), §6.2.1 applies. <br /> 291 6.2.1. Conventional/Other.Buyer has the right to obtain an Appraisal. If the Appraised Value is <br /> 292 less than the Purchase Price, or if the Appraisal is not received by Buyer on or before Appraisal Deadline Buyer <br /> 293 <br /> 294 may, on or before Appraisal Objection Deadline, notwithstanding §8.3 or§ 13: <br /> 295 6.2.1.1. Notice to Terminate. Notify Seller in writing, pursuant to§25.1,that this Contract is <br /> 296 terminated; or <br /> 297 6.2.1.2.Appraisal Objection. Deliver to Seller a written objection accompanied by either a <br /> 298 <br /> 299 copy of the Appraisal or written notice from lender that confirms the Appraised Value is less than the Purchase <br /> 300 Price (Lender Verification). <br /> 301 6.2.1.3.Appraisal Resolution. If an Appraisal Objection is received by Seller, on or before <br /> 302 Appraisal Objection Deadline and if Buyer and Seller have not agreed in writing to a settlement thereof on or <br /> 303 <br /> 304 before Appraisal Resolution Deadline,this Contract will terminate on the Appraisal Resolution Deadline, <br /> 305 unless Seller receives Buyer's written withdrawal of the Appraisal Objection before such termination, i.e., on or <br /> 306 before expiration of Appraisal Resolution Deadline. <br /> 307 6.3. Lender Property Requirements. If the lender imposes any written requirements, replacements, <br /> 308 <br /> 309 removals or repairs, including any specified in the Appraisal (Lender Requirements)to be made to the Property <br /> 310 (e.g., roof repair, repainting), beyond those matters already agreed to by Seller in this Contract, this Contract <br /> 311 terminates on the earlier of three days following Seller's receipt of the Lender Requirements, or Closing, unless <br /> 312 prior to termination: (1)the parties enter into a written agreement to satisfy the Lender Requirements; (2)the <br /> 313 <br /> 314 Lender Requirements have been completed; or(3)the satisfaction of the Lender Requirements is waived in writing <br /> 315 by Buyer. <br /> 316 6.4. Cost of Appraisal. Cost of the Appraisal to be obtained after the date of this Contract must be timely <br /> 317 paid by ❑Buyer ❑Seller.The cost of the Appraisal may include any and all fees paid to the appraiser, appraisal <br /> 318 <br /> 319 management company, lender's agent or all three. <br /> 320 <br /> 321 7. OWNERS'ASSOCIATION. This Section is applicable if the Property is located within a Common <br /> 323 Interest Community and subject to the declaration (Association). <br /> 324 7.1. Common Interest Community Disclosure.THE PROPERTY IS LOCATED WITHIN A <br />