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ADDENDUM TO PURCHASE AGREEMENT:
<br />CONVENTIONAL 011 PRIVATELY INSURED
<br />CONVENTIONAL MORTGAGE FINANCING
<br />This form approved by the Minnesota Aseodollon of REALTORS°,
<br />which disclaims any liability arising out of use or misuse of This form,
<br />02013 MInn sola Association of REACrORuro, Edina, MN
<br />1. Date SeOelm(/ r ?_ck I Thl
<br />tk
<br />2. Page
<br />3. Addendum to Purchase Agreement between parties, dated mber 791 , 20 t, pertaining to the
<br />4. purchase and sale of the Property at 3046 Lavoro Road
<br />5, LSbtle Canada, MN 55109
<br />6. Financing will be a 0 FIRST MORTGAGE only ❑ FIRST MORTGAGE AND SUBORDINATE FINANCING.
<br />(Check one.).-._._......'_.._....._........_.__...._............�._..._....
<br />7. Buyer shall apply for and secure, at Buyer's expense, a 3z. 3,01- ',3O, &'`
<br />8, 0 CONVENTIONAL 0 PRIVATELY INSURED CONVENTIONAL First Mortgage
<br />(Check one.)- yJ (a9., llxed, ARM)
<br />9, alnortlzed monthly over a period of not more than years, with an Initial mortgage Interest rate at
<br />10. no more than ?VAD.tlC_Qr percent (%) per annum.
<br />11. The mortgage application 1STO BE MADE WITHIN FIVE (5) BUSINESS DAYS after the Final Acceptance Date of this
<br />12. Purchase Agreement. Buyer agrees to use best efforts to secure a commitment for such financing and to execute all
<br />13. documents required to consummate sald financing.
<br />14. SELLER'S CONTRIBUTIONSTO BUYER'S COSTS: Sellor ❑ IS,RJ IS NOT contributing to Buyer's costs. If IS, see
<br />-'-••(Chock ono.} • -•
<br />15. attached Sellers Contributions to Buyer's Costs Addendum,
<br />16. FINANCING CONTINGENCY: This Purchase Agreement is contingent upon the following and applies to the first
<br />17. mortgage and any subordinate financing.
<br />18. (Check ono)
<br />19. El If Buyer cannot secure the financing specified in this Purchase Agreement, and this Purchase Agreement does not
<br />20, dose on the closing date specified, this Purchase Agreement Is canceled. Buyer and Seller shall immediately
<br />21. sign a Cancellation of Purchase Agreement confirming said cancellation and directing all earnest money to be
<br />22.ix] REFUNDED TOSLIVER ❑FORFEITED TOSELLER.
<br />(Chock ono.)
<br />23. ❑ Buyer shall provide Seller, or licensee representing or assisting Seller, with the Written Statement, on
<br />24, or before , 20
<br />25. For purposes of this Contingency, "Written Statement" means a Written Statement prepared by Buyer's mortgage
<br />26. originator(s) or lender(s) atter the Final Acceptance Date that Buyer Is approved for the loan(s) specified In this
<br />27. Purchase Agreement, including both the first mortgage and any subordinate financing, It any, and stating that an
<br />28. appraisal, satisfactory to the londor(s), has been completed and stating conditions required by lender(s) to close
<br />29. the loan.
<br />30, Upon delivery of the Written Statement to Seller, or licensee representing or assisting Seller, the responsibility
<br />31. for satisfying all conditions, except work orders, required by mortgage orlglnator(s) or lender(s) are deemed
<br />32. accepted by Buyor. Upon delivery of the Wrltten Statement, If this Purchase Agreement does not close on the
<br />33. stated closing date for ANY REASON relating to financing, other than Seller's failure to complete work orders to
<br />34. the extent required by tills Purchase Agreement, Including but not limited to Interest rate and discount points, If
<br />35. any, Seller may, at Seller's option, declare this Purchase Agreement canceled, In which case this Purchase Agreement
<br />36. Is canceled. If Seller declares this Purchase Agreement canceled, Buyer and Seller shall Immediately sign a
<br />37. Cancellation of Purchase AgreementconfirmIng said cancellation and directing all earnest money paid hereunder '
<br />38. to be forfeited to Seller as liquidated damages. In the alternative, Seller may seek all other remedies allowed by
<br />39. law.
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