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b. Instruments of Tranaler. The Inclus~v l~ be conveyed et Geainp free end clear of ell hero end <br />eraumbraraes, except as proNded In § 72 Conveyance be I ~ 611101 sale or olhx appllceble legal Inabumenl(e . y water <br />rlghy shall ba eonwyed by ~a xlal warranty deed or other applicable legal Inatrumam(a). <br />a Ezeluslons. The of Ilowing attached fixtures a: excluded from this sale: none _ <br />4. PURCHASE PRICE AND TERMS. The Purchase Pr1 ~~ sat forth below shalt be payable in U.S. Dollars W Buyer as <br />follows: <br />Item No. Reference Item ~~ <br /> §q Purc sae rce _ <br />2 §4a Earroet Money ~ ~ _ <br />3 §4b New Loan _ <br />4 §4c Asaranption Balance <br />5 §4d Seller or P vets Financing <br />e <br />7_-_._._ §4e <br />-.-._____.___. Caah at oainCi g ~-~ <br />TOTAL -_--.- <br />a. Earnest Monev. The Eernesl Money sal forth <br />s part payment of the Purchase Price and shall ba payable to : <br />is trust account, on behalf of bath Seller end Buyer Tha partir <br />:ompany, If any, at or before Cloaing. <br />b. New Loan. (Omitted as Inapplicable.) <br />c Assumption. (Omitted as Inapplicable.) <br />d. Seller or Private Financing. Buyer agrees to <br />Nlx _-._.. _.._. _..._- .. ... _ ......._.____ as I~ Jo <br />__ _ ,_ __ on the hdte~iorm as Inr <br />Patel NTD 81-1i-83 f~~Other -- - _ <br />(tsl, 2nd. etc.) deed of trust e~umbenng~the Properly, usihn <br />I-)Craditworthy (TD 73.7-98) ~Asaumable -Not Due On Sr <br />Buyer ~ p~shaH U Shall Not execute and deliver, el <br />granting the bottler of the promissory noto a _ _ 7' <br />~nduded In this sale. the promiaeory note s IF-a§ ~e amortized 5 <br />per ~4u~a~rter Including princlp: <br />shall commence 90 ays~tar do~7n eIM shall be due on the <br />the balance of principal and accrued Interest shall 6e due and p: <br />'aymenta l] Shall (Shall Not be Increased by __ _ of <br />~e Increased by _____ _ of eslimaled annual property insml' <br />any payment Is not received within f0 calendar days ells: <br />shall 6a due. Interest on lender disbursements under the deed c' <br />be. 1T ._ % per annum. Buyer may prepay without a Danall <br />Ids Secllon, In the form of check , <br />: held 6y ____.._Tnnseaildri firTe ZSOmpany _ .. _-,Tn <br />nutiarize delivery of the Eamosl Money deposit to the Gosing <br />•ecute a promissory note payable lo: Ralph Nlx and Jerry Ntr _ <br />' Tenants pp~3 Tenants In Cmnman IOlher_ <br />lied: ~y((UCL'C-No Delaull Rate)N~82-5-95 ~~I jDelault <br />secured bye . __ _ First Deed of Trus~ <br />•:e loon as Indicated: IJ Shirt Uue-On-Sate (TD 72.7.96) <br />'(TD 74-7-98) fl Other „_. _ ______.__. <br />'oeing, a Security Agreement nhd ~11CG1 Financing Statement <br />_. (1st, 2nd, elr.) Tien on the personal properly <br />Die baste of 20 ~lyeara U months, payeWe et <br />end Interest at the rate ol~ 8 % per annum. Payments <br />:t day of each succeeding quarter _ , 3 not sooner paid, <br />~.ble _f0 years _ __ alter Gosing. <br />Iimaled annual real estate lazes, and ('l Shall §i(Shall Not <br />s premium. The loan shall also contain the folloanng terms: If <br />~a due dale, a late charge nr 3 % of such payment <br />usl shall ba WA % per nnhum. Default Interest rate shall <br />Iwssrt ._ ... <br />Buyer y~ Shall I ~ She Not provide a mortgagees 1 ~e Iroraanee policy, al Buyer's exrense. <br />e. Caah at Closlna. All amounts paid by Buyer !Gosing Including Cash et (:losing, plus Buyer's closing coals. <br />shall be In lands which comply with all appliaable Colorado law Yddeh Include cash, electrm:lc tranaler lunch, certified check, <br />savings and loan teller's check and cashier's check (Good Fund <br />5. FINANCING CONDITIONS AND OBLIGATIONS. <br />a. ),gan Apollcatlon. (Omitted as Inapplicable.) <br />b. Loan Commltmant. (Omitted ea InaDDllcabie.l <br />a. Credit Information. It Buyer Is to pay all or p: ' of the Purchase Price by execlding a Oromissory note In lava <br />of Seller or II an existing loan la rwl to be released at Gosb this contract is candifional upon Seller's approval of Buyer's <br />financial aMllty and credilwtulhineaa, which approval shall 6e :~~ Seller's sole end absolute discretion. In ouch case: (1) Buyer <br />shall supply to Seller by Buyers Crodit Inlonnatlon Dea~'.Irte (§2c), at Buyer's ezperoe, Inlormallon and documents <br />concerning Buyer's financial, employment and eredlt condition; ! :Buyer coroenla that Seller may verify Buyer's Ororrcid ability <br />and credilwortMneaa (Indudinp ablalnlnp a current credit report) J) any each Information and documents retelved by Seller shall <br />ba heW by Seller In confidence, arld Mt released to others e:~ spt to protect Seller's Interest In this lraroaction; (4) If Seller <br />does not provide willen ranee of Seller's disapprowl to Buyer ' r OlsapProval of Buyers Crodit Osadllrra (§2c), then Seller <br />vnivea this condition. 3 Seller does provde written no0ee of ~ ~sepproval to Buyer on or betas sold data, this contract shall <br />lerminate. <br />d.- Existing Loan Review. (Omitted as iroppllc.'•IeJ <br />6. APPRAISAL PROVISIONS. <br />a. Appraisal Condillon. This subsection a. pf:hall pd Bllall Not apply. <br />Buyer shall have the sole option and election to tern:inale t la contract If the Purchase Price exceeds the Property's <br />valuation determined by an appraiser engaged by ,__ ___ WA .The comract shall lerminate by Buyer <br />gidng Seller written notice of termination arxl either a copy o~ such ~aDPraleal a written nelice Iron lantler which confirms lho <br />Prapartya wluation Is leas than the Purchase Price, recelw' •+n a before the Apprelaal Deadline (§2c). I/ Seller does not <br />receive such written notice of termination on ar before lha App ~~al Deadline (§2e), Buyer vraiwa arty right to lerminate under <br />Ihla subsedlon. <br />b. Cost of Appraisal. Coat of arty appraisal IS' ~re obtained after the data of this contract shall be timely paid <br />6y I-~IBuyer nSaller. <br />7. EVIDENCE OF TITLE <br />a. Evidence of Title: Survev. On or before 'I 'le Deadline (§2c), Seller shall cause to be IurMahed to Buyer, <br />al Seller's expanse, a current commitment for owror's title 6::rrance pdicy In an amoum equal to the Purchase Price or If this <br />box is checked, I~I An Abstract of title certified to a currwd date. If a title Insurance connnilment is furnished, Il (I~Shall <br />I I Shall Not commis to delete or insure over the standard <br />exceptions whleh relate to: <br />(1) parties In posaeselon, <br />(T) unrewrded easements, <br />(s) survey matters, <br />(1) any umetorded mechanics' Ilene, <br />(3) paD period (elfedive date of commitment to de!e deed Is recorded), and <br />(e) unpaid taxes, aasesamente and unredeeme0lax salsa prior to the year of Closing. <br />Any eddltlonal pr alum expense to obtain this atltlll! Hurl coverage shall be paid by ~p~3 Buyer f.] Seller. An amount <br />not to exceed S ~ for the coat o/ any Improvement beatlort certifk~ate or survey shall 6e paid by <br />IJ Buyer ~ Seller. g the cost exceeds tMs amount, l:uyar shall pay the ezceas an or 6elora Gosing. The <br />improvement location certificate or survey shall ba recerved 6y Bliye~ on or 6e~ore Survey Doatllynf (§2c). Seller shall cause <br />rho title Irouranca polls/ to be delivered to Buyer as anon as practicable et qr alter Gosing. II <br />INS:YrPranSMFOIwIUIaeOrrmwrA~rq lasfulur our-, P.nra.~~y~ Srba mlN~r' ~ Page 2013 <br />~,. <br />M1FMC Om. rMry. YVN Ir,100115:11;51 <br />