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existence of any tenants or occupants at the Property unless otherwise noted in Section 38 of this Addendum. The
<br />Seller, its representatives, agents or assigns, shall not be responsible for evicting or relocating any tenants, occupants
<br />or personal property at the Property prior to or subsequent to closing unless otherwise noted in Section 38 of this
<br />Addendum. All leases shall be deemed assigned to Purchaser upon closing to the extent permitted under applicable
<br />laws.
<br />The Purchaser further acknowledges that, to the best of the Purchaser's knowledge, the Seller is not holding any
<br />security deposits from former or current tenants and has no information as to such security deposits as may have
<br />been paid by the former or current tenants to anyone and agrees that no sums representing such tenant security
<br />deposits shall be transferred to the Purchaser as part of this transaction. The Purchaser further agrees to assume all
<br />responsibility and liability for the refund of such security deposits to the tenants pursuant to the provisions of
<br />applicable laws and regulations. All rents due and payable and collected from tenants for the month in which
<br />closing occurs will be prorated according to the provisions of Section 10 of this Addendum.
<br />The Purchaser acknowledges that this Property may be subject to the provisions of local rent control ordinances and
<br />regulations. The Purchaser agrees that upon the closing, all eviction proceedings and other duties and responsibilities
<br />of a property owner and landlord, including but not limited to those proceedings required for compliance with such
<br />local rent control ordinances and regulations, will be the Purchaser's sole responsibility.
<br />9. Personal Property: Items of personal property, including but not limited to window coverings, appliances,
<br />manufactured homes, mobile homes, vehicles, spas, antennas, satellite dishes and garage door openers, now or
<br />hereafter located on the Property are not included in this sale or the Purchase Price unless the personal property is
<br />specifically described and referenced in Section 38 of this Addendum. Any personal property at or on the Property
<br />may be subject to claims by third parties and, therefore, may be removed from the Property prior to or after the
<br />closing. The Seller makes no representation or warranty as to the condition of any personal property, title thereto, or
<br />whether any personal property is encumbered by any liens. The Seller assumes no responsibility for any personal
<br />property remaining on the Property at the time of closing.
<br />10. Closing Costs and Adjustments:
<br />(a) The Purchaser and the Seller agree to prorate the following expenses as of the Settlement Date: real estate
<br />taxes and assessments, common area charges, condominium or planned unit development or similar
<br />community assessments, co- operative fees, maintenance fees and rents, if any. In determining prorations, the
<br />Settlement Date shall be allocated to the Purchaser. Payment of special assessment district bonds and
<br />assessments, and payment of homeowner's association or special assessments shall be paid current and
<br />prorated between the Purchaser and the Seller as of Settlement Date with payments not yet due and owing to
<br />be assumed by the Purchaser without credit toward Purchase Price. The Property taxes shall be prorated
<br />based on an estimate or actual taxes from the previous year on the Property. All prorations shall be based
<br />upon a 30 -day month and all such prorations shall be final. The Seller shall not be responsible for any
<br />amounts due, paid or to be paid after closing, including but not limited to, any taxes, penalties or interest
<br />assessed or due as a result of retroactive, postponed or additional taxes resulting from any change in use of,
<br />or construction on, or improvement to the Property, or an adjustment in the appraised value of the Property.
<br />In the event the Seller has paid any taxes, special assessments or other fees and there is a refund of any such
<br />taxes, assessments or fees after closing, and the Purchaser as current owner of the Property receives the
<br />payment, the Purchaser will immediately submit the refund to the Seller.
<br />(b) Fannie Mae is a congressionally chartered corporation and is exempt from realty transfer taxes pursuant to 12
<br />U.S.C. 1723a(c)(2).
<br />(c) The Seller shall pay the real estate commission per the listing agreement between the Seller and the Seller's
<br />listing broker.
<br />(d) Purchaser shall release Seller from any and all claims arising from the adjustments or prorations or errors in
<br />calculating the adjustment or prorations that are or may be discovered after closing. THE PURCHASER
<br />AGREES TO EXECUTE AND DELIVER TO THE SELLER AT CLOSING FANNIE MAE'S NPDC FORM
<br />5 ( "fax Proration Agreement).
<br />11. Delivery of Funds: Regardless of local custom, requirements, or practice, upon delivery of the deed by the Seller to
<br />the Purchaser, the Purchaser shall deliver, or cause to be delivered, all funds due the Seller from the sale in the form
<br />of cash, bank check, certified check or wire transfer. An attorney's trust fund check shall not be sufficient to satisfy
<br />this provision unless the bank holding the account on which the trust fund check is drawn certifies the trust fund
<br />check.
<br />PURCHASER (Initials)
<br />SELLER (Initials)
<br />NPDC FORM 001 Lefler 1130 -2009
<br />REO # CI00HF4
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