Common use of FLOOD INSURANCE; ELEVATION CERTIFICATE Clause in Contracts

FLOOD INSURANCE; ELEVATION CERTIFICATE. If the Property is located in a designated flood zone, flood insurance may be required as a 116 condition of a new loan. Buyer is encouraged to promptly verify the need, availability, and cost of flood insurance, if applicable. An Elevation 117 Certificate (“EC”) is the document used by the federal National Flood Insurance Program (“NFIP”) to determine the difference in elevation between 118 a home or building, and the base flood elevation (“BFE”), which is a computed elevation to which floodwater is anticipated to rise during certain floods. 119 The amount of the flood insurance premium for a particular property is based upon the EC. Not all properties in flood zones require an EC, 120 depending upon when they were constructed. ECs must be prepared and certified by a land surveyor, engineer, or architect who is authorized by 121 the local jurisdiction to certify elevation information. The costs and fees for an EC may range from a few hundred dollars to over a thousand. If the 122 Property requires an EC, it will need to be obtained prior to receiving a flood insurance quote. Additionally, Lenders may require an EC 123 as a condition of loan approval. For more information, go to the following link: xxxx://xxx.xxxx.xxx/base-flood-elevation 124 7. SELLER-CARRIED FINANCING (E.G., LAND SALE CONTRACT/TRUST DEED/MORTGAGE/OPTION AGREEMENTS, RENT-TO-OWN, 125 ETC.): Notice to Buyer and Seller: If this transaction involves a land sale contract, trust deed, mortgage, option, or lease-to-own agreement 126 (hereinafter a “Seller Carried Transaction”), Oregon law requires that, unless exempted, individuals offering or negotiating the terms must hold a 127 mortgage loan originator (“MLO”) license. Your real estate agent is not qualified to provide these services or to advise you in this regard. Legal 128 advice is strongly recommended. Oregon law exempts the following individuals from the MLO licensing law: (a) Those who offer or negotiate terms 129 of a residential mortgage loan with or on behalf of their spouse, child, sibling, parent, grandparent, grandchild or a relative in a similar relationship 130 created by law, marriage or adoption; (b) Those who sell their primary residence they currently or previously lived in; and (c) Individuals who sell up 131 to three (3) non-primary residences during any 12-month period. (Note: One may not hold more than eight residential mortgage loans at one time.) 132 If this is a Seller-Carried Transaction, and one or more of the preceding exemptions apply, Buyer and Seller agree as follows (select only one):

FLOOD INSURANCE; ELEVATION CERTIFICATE. If the Property is located in a designated flood zone, flood insurance may be required as a 116 114 condition of a new loan. Buyer is encouraged to promptly verify the need, availability, and cost of flood insurance, if applicable. An Elevation 117 115 Certificate (“EC”) is the document used by the federal National Flood Insurance Program (“NFIP”) to determine the difference in elevation between 118 116 a home or building, and the base flood elevation (“BFE”), which is a computed elevation to which floodwater is anticipated to rise during certain floods. 119 117 The amount of the flood insurance premium for a particular property is based upon the EC. Not all properties in flood zones require an EC, 120 118 depending upon when they were constructed. ECs must be prepared and certified by a land surveyor, engineer, or architect who is authorized by 121 119 the local jurisdiction to certify elevation information. The costs and fees for an EC may range from a few hundred dollars to over a thousand. If the 122 120 Property requires an EC, it will need to be obtained prior to receiving a flood insurance quote. Additionally, Lenders lenders may require an EC 123 as 121 a condition of loan approval. For more information, go to the following link: xxxx://xxx.xxxx.xxx/base-flood-elevation 124 122 7. SELLER-CARRIED FINANCING (E.G., LAND SALE CONTRACT/TRUST DEED/MORTGAGE/OPTION AGREEMENTS, RENT-TO-OWN, 125 123 ETC.): Notice to Buyer and Seller: If this transaction involves a land sale contract, trust deed, mortgage, option, or lease-to-own agreement 126 124 (hereinafter a “Seller Carried Transaction”), Oregon law requires that, unless exempted, individuals offering or negotiating the terms must hold a 127 125 mortgage loan originator (“MLO”) license. Your real estate agent licensee is not qualified to provide these services or to advise you in this regard. Legal 128 126 advice is strongly recommended. Oregon law exempts the following individuals from the MLO licensing law: (a) Those who offer or negotiate terms 129 127 of a residential mortgage loan with or on behalf of their spouse, child, sibling, parent, grandparent, grandchild or a relative in a similar relationship 130 128 created by law, marriage or adoption; (b) Those who sell their primary residence they currently or previously lived in; and (c) Individuals who sell up 131 129 to three (3) non-primary residences during any 12-month period. (Note: One may not hold more than eight residential mortgage loans at one time.) 132 130 If this is a Seller-Carried Transaction, and one or more of the preceding exemptions apply, Buyer and Seller agree as follows (select only one):should use the Seller-Carried 131 Addendum, OREF form No.033 and related forms. Caveat: Buyer and Seller are advised to secure competent legal advice while engaged in 132 a Seller-Carried Transaction. 133 8. ADDITIONAL FINANCING PROVISIONS: 134 135 136 137 138 139 140 141 142 143 144 145 146 CONTINGENCIES

FLOOD INSURANCE; ELEVATION CERTIFICATE. If the Property is located in a designated flood zone, flood insurance may be required as a 116 115 condition of a new loan. Buyer is encouraged to promptly verify the need, availability, and cost of flood insurance, if applicable. An Elevation 117 116 Certificate (“EC”) is the document used by the federal National Flood Insurance Program (“NFIP”) to determine the difference in elevation between 118 117 a home or building, and the base flood elevation (“BFE”), which is a computed elevation to which floodwater is anticipated to rise during certain floods. 119 118 The amount of the flood insurance premium for a particular property is based upon the EC. Not all properties in flood zones require an EC, 120 119 depending upon when they were constructed. ECs must be prepared and certified by a land surveyor, engineer, or architect who is authorized by 121 120 the local jurisdiction to certify elevation information. The costs and fees for an EC may range from a few hundred dollars to over a thousand. If the 122 121 Property requires an EC, it will need to be obtained prior to receiving a flood insurance quote. Additionally, Lenders may require an EC 123 122 as a condition of loan approval. For more information, go to the following linkwebsite: xxxx://xxx.xxxx.xxx/base-flood-elevation 124 xxx.xxxx.xxx 123 7. SELLER-CARRIED FINANCING (E.G., LAND SALE CONTRACT/TRUST DEED/MORTGAGE/OPTION AGREEMENTS, RENT-TO-OWN, 125 124 ETC.): Notice to Buyer and Seller: If this transaction involves a land sale contract, trust deed, mortgage, option, or lease-to-own agreement 126 125 (hereinafter a “Seller Carried Transaction”), Oregon law requires that, unless exempted, individuals offering or negotiating the terms must hold a 127 126 mortgage loan originator (“MLO”) license. Your real estate agent is not qualified to provide these services or to advise you in this regard. Legal 128 127 advice is strongly recommended. Oregon law exempts the following individuals from the MLO licensing law: (a) Those who offer or negotiate terms 129 of a residential mortgage loan with or on behalf of their spouse, child, sibling, parent, grandparent, grandchild or a relative in a similar relationship 130 created by law, marriage or adoption; (b) Those who sell their primary residence they currently or previously lived in; and (c) Individuals who sell up 131 to three (3) non-primary residences during any 12-month period. (Note: One may not hold more than eight residential mortgage loans at one time.) 132 If this is a Seller-Carried Transaction, Buyer and one or more of Seller are advised to review the preceding exemptions apply, OREF 032 Seller-Carried 128 Transactions Buyer and Seller Advisory. Buyer and Seller agree as follows (select only one):): 129 (a) Use the OREF 033 Seller-Carried Transaction Addendum and related forms; or 130 (b) Secure separate legal counsel to negotiate and draft the necessary documents or employ an MLO 131 Seller and Buyer agree that regardless of whether (a) or (b) is selected, they will reach a signed written agreement upon the terms and conditions of such 132 financing (e.g. down payment, interest rate, amortization, term, payment dates, late fees, balloon dates, etc.) within business days (ten [10] if 133 not filled in) commencing on the next business day following the date they have signed and accepted this Sale Agreement (“Negotiation of Terms 134 Period”). Upon failure of Buyer and Seller to reach agreement by 5:00 p.m. on the last day of the Negotiation of Terms Period, or such other times 135 as may be agreed upon in writing, all xxxxxxx money deposits shall be refunded to Buyer and this transaction shall be automatically terminated.

FLOOD INSURANCE; ELEVATION CERTIFICATE. If the Property is located in a designated flood zone, flood insurance may be required as a 116 123 condition of a new loan. Buyer is encouraged to promptly verify the need, availability, and cost of flood insurance, if applicable. An Elevation 117 124 Certificate (“EC”) is the document used by the federal National Flood Insurance Program (“NFIP”) to determine the difference in elevation between 118 125 a home or building, and the base flood elevation (“BFE”), which is a computed elevation to which floodwater is anticipated to rise during certain floods. 119 126 The amount of the flood insurance premium for a particular property is based upon the EC. Not all properties in flood zones require an EC, 120 127 depending upon when they were constructed. ECs must be prepared and certified by a land surveyor, engineer, or architect who is authorized by 121 128 the local jurisdiction to certify elevation information. The costs and fees for an EC may range from a few hundred dollars to over a thousand. If the 122 129 Property requires an EC, it will need to be obtained prior to receiving a flood insurance quote. Additionally, Lenders may require an EC 123 130 as a condition of loan approval. For more information, go to the following link: xxxx://xxx.xxxx.xxx/base-flood-elevation 124 131 7. SELLER-CARRIED FINANCING (E.G., LAND SALE CONTRACT/TRUST DEED/MORTGAGE/OPTION AGREEMENTS, RENT-TO-OWN, 125 132 ETC.): Notice to Buyer and Seller: If this transaction involves a land sale contract, trust deed, mortgage, option, or lease-to-own agreement 126 133 (hereinafter a “Seller Carried Transaction”), Oregon law requires that, unless exempted, individuals offering or negotiating the terms must hold a 127 134 mortgage loan originator (“MLO”) license. Your real estate agent is not qualified to provide these services or to advise you in this regard. Legal 128 135 advice is strongly recommended. Oregon law exempts the following individuals from the MLO licensing law: (a) Those who offer or negotiate terms 129 136 of a residential mortgage loan with or on behalf of their spouse, child, sibling, parent, grandparent, grandchild or a relative in a similar relationship 130 137 created by law, marriage or adoption; (b) Those who sell their primary residence they currently or previously lived in; and (c) Individuals who sell up 131 138 to three (3) non-primary residences during any 12-month period. (Note: One may not hold more than eight residential mortgage loans at one time.) 132 139 If this is a Seller-Carried Transaction, and one or more of the preceding exemptions apply, Buyer and Seller agree as follows (select only one):

FLOOD INSURANCE; ELEVATION CERTIFICATE. If the Property is located in a designated flood zone, flood insurance may be required as a 116 115 condition of a new loan. Buyer is encouraged to promptly verify the need, availability, and cost of flood insurance, if applicable. An Elevation 117 116 Certificate (“EC”) is the document used by the federal National Flood Insurance Program (“NFIP”) to determine the difference in elevation between 118 117 a home or building, and the base flood elevation (“BFE”), which is a computed elevation to which floodwater is anticipated to rise during certain floods. 119 118 The amount of the flood insurance premium for a particular property is based upon the EC. Not all properties in flood zones require an EC, 120 119 depending upon when they were constructed. ECs must be prepared and certified by a land surveyor, engineer, or architect who is authorized by 121 120 the local jurisdiction to certify elevation information. The costs and fees for an EC may range from a few hundred dollars to over a thousand. If the 122 121 Property requires an EC, it will need to be obtained prior to receiving a flood insurance quote. Additionally, Lenders may require an EC 123 122 as a condition of loan approval. For more information, go to the following linkwebsite: xxxx://xxx.xxxx.xxx/base-flood-elevation 124 xxx.xxxx.xxx 123 7. SELLER-CARRIED FINANCING (E.G., LAND SALE CONTRACT/TRUST DEED/MORTGAGE/OPTION AGREEMENTS, RENT-TO-OWN, 125 124 ETC.): Notice to Buyer and Seller: If this transaction involves a land sale contract, trust deed, mortgage, option, or lease-to-own agreement 126 125 (hereinafter a “Seller Carried Transaction”), Oregon law requires that, unless exempted, individuals offering or negotiating the terms must hold a 127 126 mortgage loan originator (“MLO”) license. Your real estate agent is not qualified to provide these services or to advise you in this regard. Legal 128 127 advice is strongly recommended. Oregon law exempts the following individuals from the MLO licensing law: (a) Those who offer or negotiate terms 129 of a residential mortgage loan with or on behalf of their spouse, child, sibling, parent, grandparent, grandchild or a relative in a similar relationship 130 created by law, marriage or adoption; (b) Those who sell their primary residence they currently or previously lived in; and (c) Individuals who sell up 131 to three (3) non-primary residences during any 12-month period. (Note: One may not hold more than eight residential mortgage loans at one time.) 132 If this is a Seller-Carried Transaction, Buyer and one or more of Seller are advised to review the preceding exemptions apply, OREF 032 Seller-Carried 128 Transactions Buyer and Seller Advisory. Buyer and Seller agree as follows (select only one):): 129 (a) Use the OREF 033 Seller-Carried Transaction Addendum and related forms; or 130 (b) Secure separate legal counsel to negotiate and draft the necessary documents or employ an MLO 131 Seller and Buyer agree that regardless of whether (a) or (b) is selected, they will reach a signed written agreement upon the terms and conditions of such ___ 132 financing (e.g. down payment, interest rate, amortization, term, payment dates, late fees, balloon dates, etc.) within business days (ten [10] if 133 not filled in) commencing on the next business day following the date they have signed and accepted this Sale Agreement (“Negotiation of Terms 134 Period”). Upon failure of Buyer and Seller to reach agreement by 5:00 p.m. on the last day of the Negotiation of Terms Period, or such other times 135 as may be agreed upon in writing, all xxxxxxx money deposits shall be refunded to Buyer and this transaction shall be automatically terminated.