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<br />(dl Assumption.
<br />S
<br />
<br />by Purchaser's assuming and agreeing to pay an existing loan in This appmzinrale amount. prcsenTly payable al
<br />_ per including principah inleresl presently el % per
<br />annum. and including escmwforlhe following as indicated: areal estate lazes, ~pmperty insurance premium, ^mortgage insurance premium.
<br />and
<br />Purchaser agrees
<br />m pay a ban tram(cr fee not so exceed S . Al the lime of assumption, the new inleresl vale shall not exceed %
<br />per annum and the new payment shell not exceed E plus escrow, if any.
<br />Seller ^shall (]shell mn" lx released fmmliabilisy on said loen.l(applicable, compliance with the requirements for release from liebilily shall
<br />be evidenced by delivery al closing of appropriate Teller fmm Icnder. Cost payable for release of liebilily shall be paid by
<br />in an amount cwt to exceed S
<br />le) Seller or Prlsate Thlyd•Perty Financing.
<br />by Purchaser executing a pmmissory nose payahle lo:
<br />^Righs~TU-Curt NTD 82-II-83 ONo Right-IO-Cure NTD SI-II-BJ O
<br />on the note formes irrdiceted: (check one boil
<br />secured bye (Isl, 2nd, etc.) deed of Irusl encumbering the Property, using The formes indicated: (check one Msz)
<br />^ Strict Due-on-Sale (TD 72-I I.83) ^ Creditworthy (TD 73-I I-SJ) ^ Assumable-Nos due on sale (TD 74-I I-SJI
<br />The pmmissory note shall be emorsized on the basis of years, payable et S
<br />including principal and inleresl al)he tale of ~%per annum. Payments shell commence
<br />end shall be due on the day of each succeeding
<br />per
<br />Ir mu sooner paid, the balance o(principel end accrued intercsl shell be due aced payable
<br />alter closing. Payments ^ shall ~ shall not be incensed by of estimated annual real estate taxes, and ~ shell ^ Shall not
<br />be increased by ofiessimated annual property insurance premium.
<br />The Isran shall also contain The following terms as indicated: If any payment is not received willrin calendar days after its due dale, a late
<br />charge of % of such payment shall be due. Interest on lender disbursements under The deed of IrusT shall bt %
<br />per annum. DefeulT intercsl rate shat l be % per annum.
<br />Purchaser may prepay withouT a penelTy ucepl -
<br />/. FINANCING CONDITIONS AND OBLIGATIONS. (e)Loen Appllcallon(s). ((Purchaser is to pay all or part tithe purchase price es sal
<br />forth in section J by obtaining a new loan or if en existing loan is not to be releaud as closing, Purchaser, if required by such lender, shell make written
<br />application within calendar deyslrom ecceplance of this contract. Purchaser shall cooperate with Seller and lender to obtain loan approval,
<br />diligently and timely pursue same in good faith, execute all documents and furnish all information and documents require) by she lender, end, subjcd so
<br />section J, timely pay she costs of obtaining such loan or lender tonsenl.
<br />(hl Loan Approval. ((Purchaser is to pay ell or part of the purchase price by obtaining a new loan es specified in section 3, this contract is cordisional
<br />upon Icnder'. eppmval of the new loan on or before , 19 _ . If not so approve) by said dale, this conlracl shall
<br />lernsinate. ((The loan is so approved, but such prr,ceeds are not available to Purchaser as required in section S (Good Fundsl al the lime o(closing,closing
<br />shall be egendeJ one lime for calendar days(nol to excecd(Sl five). llsufficiem funds are not then esailable, This conracl shall terminate.
<br />Icl Exlsling•Loan Review. If an existing loan is not to be released al closing, Seller shall pmvide copies of the loan documents (including nine,
<br />deed of trust, nwdilications) to Purchaser within calendar days from acceptance of this contmd. This conlracl is conditional upon Pur-
<br />chaser's review and eppmval of the provisions of such loan documents. Purchaser consents to the provisions of such loan dauments if no written objection
<br />is r<ccised by Seller or Listing Company fmm Pumhascr within calendar days fmm Purchaser's receipt of such documents. If the lender's
<br />appmsal of a Transfer of the Properly is required, this conlracl is conditiowl upon Purchaser's obmining such eppmval wilhoul change in the Icons of such
<br />loan- uttpt es ut forth in se<tims 3. If kmler's eppmval is not obtained on or before , 19 ,this
<br />mntmd shell be Terminated on such time. If Seller is to be released fmm liability under such existing loan end Purchaser does not obtain such compliance
<br />as set forth in seclinn J, this contmd may be terminated at Seller's option.
<br />(d) Assumpllon Delence. If Purchaser is to pay ell or part of the purchase price by assuming en existing loan and if the equal principal balance of
<br />the exiling loan aT the dale ofdosing is less Than the amount In session 7 by more than E ,Then Purchaser may lerminale this
<br />cnnnaa effedi.e upon receipt by Seller or Listing Company of Purchaser's written notice of termination.
<br />Ill Credll Informallon. If purchaser is to pay ell or part of the purchase price by executing a promiswry note in favor of Seller m If sn existing loan
<br />is m,l to be released aT closing, This conlracl is conditional upon Seller's eppmval of Purchaser's financial ability and trtdilworthiness, which eppmval
<br />shall he al Seller i sole end absolute discretion. In such cast: (I) Purchaser shall supply to Seller on or before ,
<br />19 , al Purchaser's expense, information end dauments concerning Purchaser's financial, employment end credit condition; (21 Purchaser
<br />conaems Thar Seller may sarify Purchaser i financial ability end rredilwonhiness; (J) any such information end dauments received by Sel ter shall be held
<br />by Srll<r in con(idenre, end nut released to others except to protecT Sel lark inleresl in This trensadion: (4) if Seller does not pmvide wrilTCn notice of
<br />Seller's disappmsal to Purchaser on m before , 19 ,Then Seller waives This condition. If Seller dues
<br />pmvide written nosice of disapproval so Purchaser on or before said dale, This cool cad shall lerminale. "~
<br />S. (:OOU FUNUS. All payments required aT closing shall be made in (undo which comply wish ell applicable Colorado laws.
<br />6. NOT ASSIGNABLE. This comracl shall nos be assignable by Purchaser without Seller's prior wriTTen consent. Except es so restricted. This
<br />contract shall inure to the benefit of and be binding upon The heirs, personal represenletives, successors end assigns of the parties.
<br />7. F-CIUENCE OF TITLE. Seller shell furnish to Purchase[ as SNler's expense. eitheraeurmnl commitmem fQ~wlna`r'S iitlejrtutraIlcF policy in
<br />en grp~mT equal to the purchase price or at Seller's choice, an abstract of tide certified to a currcnT dale. on or before f fl ~JD Lai ,
<br />19 7 . If a Ii11e insurance commitment is furnished, Purchaser may require of Seller Chas copies of instruments for ebsrracrs of instrumems)
<br />listed in the schedule of exceptions (Exceptions) in the title insurance commilmenl also be furnished to Pumhascr aT Seller's expense. This rtquirtmenT
<br />shall pertain only to inslrumenls shown of rtcord in the office of the clerk end recorder of the designated soupy or counties. The title insurance
<br />commitntcnl, together with any copies or abstracts of insl rumenls (urnished pursuant to This section 7, constilule the title documents (TiTle Documents).
<br />Pnrchaser must rtquesl Seller so furnish copies or abstracts of instrumems listed in The schedule of exceptions no later than L calendar days
<br />after Purcheceri receipt of the Title insurance commismenl. If Seller furnishes a title Insurance commilmenl, Seller will have she title insurance policy
<br />delisered to Purchaser as soon es predicable after closing end pay the premium es closing. - ~ ~ '
<br />8. TITLE. (a) TI(le Review. Purchaser shall have the right To inspect the Title Documents or ebslrect. Written nosice by Purchaser. of
<br />unmerchansebility o! Title or o! any other unsatisfactory lisle condi1on shown by the 7illt Documents or absliecl shall be signed by of on behalf of
<br />Purchaser and given To Seller or Listing Company nn or before 7 taltnder days after Purchaser i receipt of Title Documents or abstract, or
<br />within fise (S) calendar days attar receipt by Purchaser of any Title Document(s) or endorsement(s) adding new Exceplionlsl to she silt commitmem
<br />logtlher with a copy of thr Til le Documem adding new Exception(s) to title. If Seller or Listing Company does rsm rtceive Purchaser i notice by the dateis)
<br />specified above. Purchaser shall be deemed To have accepted the condition of IiTle es disclosed by The Title Documents es satisfactory.
<br />Nn. CBS)/hl-S-89.
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