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
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<br />M1FMC Om. rMry. YVN Ir,100115:11;51
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