Common use of Mortgage Contingency Clause in Contracts

Mortgage Contingency. This Contract is contingent upon Xxxxx obtaining a firm written mortgage commitment (except for matters of title and survey or matters totally within Buyer’s control) on or before , 20 for a (choose one) fixed adjustable; (choose one) conventional other loan of $ or such lesser amount as Buyer elects to take, plus private mortgage insurance (PMI), if required. The interest rate (initial rate, if applicable) shall not exceed % per annum, amortized over not less than years. Buyer shall pay loan origination fee and/or discount points not to exceed % of the loan amount. Buyer shall pay the cost of application, usual and customary processing fees and Closing costs charged by lender. Buyer shall make written loan application within five (5) business days after the Date of Acceptance. Failure to do so shall constitute an act of default under this Contract. If Buyer, having applied for the loan specified above, is unable to obtain such loan commitment and serves written notice to Seller within the time specified, this Contract shall be null and void. If written notice of inability to obtain such loan commitment is not served within the time specified, Buyer shall be deemed to have waived this contingency and this Contract shall remain in full force and effect. This Contract shall not be contingent upon the sale and/or closing of any existing real estate. Buyer shall be deemed to have satisfied the financing conditions of this paragraph if Xxxxx obtains a loan commitment in accordance with the terms of this paragraph even though the loan is conditioned on the sale and/or closing of any existing real estate. If Seller at Seller’s option and expense, within thirty (30) days after Xxxxx’s notice, procures for Buyer such commitment or notifies Buyer that Seller will accept a purchase money mortgage upon the same terms, this Contract shall remain in full force and effect. In such event, Seller shall notify Buyer within five (5) Business Days after Xxxxx’s notice of Seller’s election to provide or obtain such financing, and Buyer shall furnish to Seller or lender all requested information and shall sign all papers necessary to obtain the mortgage commitment and to close the loan.

Mortgage Contingency. This Contract Agreement is contingent upon Xxxxx BUYER obtaining a firm written mortgage commitment (except for matters of title and survey or matters totally within Buyer’s control) on or before , 20 for a (choose oneloan without any condition(s) fixed adjustable; (choose one) conventional other loan of $ or beyond BUYER’S reasonable ability to satisfy, to be secured by a first mortgage on the Premises, in such lesser an amount as Buyer elects to take, plus private mortgage insurance (PMI), if required. The interest rate (initial rate, if applicable) for which BUYER shall apply which shall not exceed % per annumbe in excess of $_ from a lending institution or licensed mortgage broker, amortized over not less than yearswhich loan shall be for a term of __ years and shall bear interest at a rate then in effect at the institution where application is made and shall include such other terms and conditions as are imposed by such institution at the time BUYER makes such application. Buyer shall pay XXXXX agrees to make prompt application for such a loan origination fee and/or discount points not and to exceed % of the loan amount. Buyer shall pay the cost of application, usual and customary processing fees and Closing costs charged by lender. Buyer shall make written loan pursue said application within five (5) business days after the Date of Acceptance. Failure to do so shall constitute an act of default under this Contractwith diligence. If Buyerhaving done so, having applied for the loan specified above, BUYER is unable to obtain a written commitment for such a loan commitment on or before _ _, 20 , and serves written notice to Seller within the time specifiedif BUYER so notifies SELLER or SELLER's attorney, in writing, at or before 5:00 p.m., on said date, then this Contract Agreement shall be null and voidvoid and the BUYER shall be entitled to the immediate return by SELLER of all sums paid by the BUYER on account of this Agreement except for the sum of Four Hundred Fifty ($450.00) Dollars towards the cost of preparation of this Agreement. If SELLER or SELLER's attorney does not receive such written notice of inability to obtain such loan commitment is not served within the time specifiedat or before 5:00 p.m. on said date, Buyer shall be deemed to have waived this contingency and this Contract Agreement shall remain in full force and effect. This Contract shall not be contingent The foregoing notwithstanding, a denial of BUYER's mortgage application based upon the sale and/or closing of any existing BUYER's inability to sell other real estate. Buyer shall be deemed to have satisfied the financing conditions of this paragraph if Xxxxx obtains estate or another home, or a loan written commitment in accordance with the terms of this paragraph even though the loan is conditioned on the sale and/or closing of other real estate or another home, shall NOT be deemed a denial of such mortgage application under this paragraph. In either of such events the BUYER shall not be entitled to terminate this Agreement nor be entitled to the return of any existing real estatesums paid by the BUYER on account of this Agreement. If Seller at Seller’s option and expense, within thirty (30) days after Xxxxx’s notice, procures for Buyer such commitment or notifies Buyer that Seller will accept a purchase money mortgage upon Should the same termsBUYER fail to comply with the foregoing requirements, this Contract Agreement shall remain continue in full force and effect. In such event, Seller shall notify Buyer within five (5) Business Days after Xxxxx’s notice of Seller’s election to provide or obtain such financing, and Buyer the rights and obligations of the parties shall furnish to Seller or lender all requested information and shall sign all papers necessary to obtain the mortgage commitment and to close the loanbe as if this paragraph did not appear in this Agreement.

Mortgage Contingency. This Contract Agreement is contingent upon Xxxxx BUYER obtaining a firm written mortgage commitment (except for matters of title and survey or matters totally within Buyer’s control) on or before , 20 for a (choose oneloan without any condition(s) fixed adjustable; (choose one) conventional other loan of $ or beyond BUYER’S reasonable ability to satisfy, to be secured by a first mortgage on the Premises, in such lesser an amount as Buyer elects to take, plus private mortgage insurance (PMI), if required. The interest rate (initial rate, if applicable) for which BUYER shall apply which shall not exceed % per annumbe in excess of $______________ from a lending institution or licensed mortgage broker, amortized over not less than years. Buyer which loan shall pay loan origination fee and/or discount points be for a term of ____years and shall bear interest at a rate not to exceed % of _____ or prevailing rate, at a fixed/variable rate at the institution where application is made. XXXXX agrees to make prompt application for such a loan amount. Buyer shall pay the cost of application, usual and customary processing fees and Closing costs charged by lender. Buyer shall make written loan to pursue said application within five (5) business days after the Date of Acceptance. Failure to do so shall constitute an act of default under this Contractwith diligence. If Buyerhaving done so, having applied for the loan specified above, BUYER is unable to obtain a written commitment for such a loan commitment on or before ________________________, 201____, and serves written notice if BUYER so notifies SELLER or SELLER's attorney, as provided in Paragraph 32, at or before 6:00 p.m., on said date, then SELLER shall have the option to Seller within extend the time specifiedmortgage contingency date or terminate this Agreement, this Contract which shall then be null and void, and the BUYER shall be entitled to the immediate return by SELLER of all sums paid by the BUYER on account of this Agreement except for the sum of Four Hundred Fifty ($450.00) Dollars towards the cost of preparation of this Agreement. If BUYER exercises this mortgage contingency, Xxxxx must provide a letter from Xxxxx’s lender that demonstrates that Xxxxx could not obtain a written notice of inability to obtain such loan commitment is without conditions that are beyond Buyer’s reasonable ability to satisfy. If SELLER or SELLER's attorney do not served within the time specifiedreceive such notice as provided in Paragraph 32 at or before 6:00 p.m. on said date, Buyer shall be deemed to have waived this contingency and this Contract Agreement shall remain in full force and effect. This Contract The foregoing notwithstanding, a denial of BUYER's mortgage application based solely upon the BUYER's inability to sell other real estate or another home, or a written commitment conditioned solely on the sale of other real estate or another home, shall NOT be deemed a denial of such mortgage application under this paragraph. In either of such events the BUYER shall not be contingent upon entitled to terminate this Agreement nor be entitled to the sale and/or closing return of any existing real estate. Buyer shall be deemed to have satisfied sums paid by the financing conditions BUYER on account of this paragraph if Xxxxx obtains a loan commitment in accordance Agreement. Should the BUYER fail to comply with the terms of this paragraph even though the loan is conditioned on the sale and/or closing of any existing real estate. If Seller at Seller’s option and expense, within thirty (30) days after Xxxxx’s notice, procures for Buyer such commitment or notifies Buyer that Seller will accept a purchase money mortgage upon the same termsforegoing requirements, this Contract Agreement shall remain continue in full force and effect. In such event, Seller shall notify Buyer within five (5) Business Days after Xxxxx’s notice of Seller’s election to provide or obtain such financing, and Buyer the rights and obligations of the parties shall furnish to Seller or lender all requested information and shall sign all papers necessary to obtain the mortgage commitment and to close the loanbe as if this Paragraph 5 did not appear in this Agreement.

Mortgage Contingency. This Contract Agreement is contingent upon Xxxxx BUYER obtaining a firm written commitment for a loan without any condition(s) beyond BUYER’S reasonable ability to satisfy, to be secured by a first mortgage on the Premises, in such an amount for which BUYER shall apply which shall not be in excess of $ from a lending institution or licensed mortgage broker, which loan shall be for a term of years and shall bear interest at a rate then in effect at the institution where application is made and shall include such other terms and conditions as are imposed by such institution at the time BUYER makes such application. BUYER agrees to make prompt application for such a loan and to pursue said application with diligence. If having done so, BUYER is unable to obtain a written commitment (except for matters of title and survey or matters totally within Buyer’s control) such a loan on or before , 20 for a (choose one) fixed adjustable; (choose one) conventional other loan of $ 200 , and if BUYER so notifies SELLER or such lesser amount as Buyer elects to takeSELLER's attorney, plus private mortgage insurance (PMI)in writing, if required. The interest rate (initial rateat or before 5:00 p.m., if applicable) shall not exceed % per annumon said date, amortized over not less than years. Buyer shall pay loan origination fee and/or discount points not to exceed % of the loan amount. Buyer shall pay the cost of application, usual and customary processing fees and Closing costs charged by lender. Buyer shall make written loan application within five (5) business days after the Date of Acceptance. Failure to do so shall constitute an act of default under then this Contract. If Buyer, having applied for the loan specified above, is unable to obtain such loan commitment and serves written notice to Seller within the time specified, this Contract Agreement shall be null and voidvoid and the BUYER shall be entitled to the immediate return by SELLER of all sums paid by the BUYER on account of this Agreement except for the sum of Four Hundred Fifty ($450.00) Dollars towards the cost of preparation of this Agreement. If SELLER or SELLER's attorney does not receive such written notice of inability to obtain such loan commitment is not served within the time specifiedat or before 5:00 p.m. on said date, Buyer shall be deemed to have waived this contingency and this Contract Agreement shall remain in full force and effect. This Contract shall not be contingent The foregoing notwithstanding, a denial of BUYER's mortgage application based upon the sale and/or closing of any existing BUYER's inability to sell other real estate. Buyer shall be deemed to have satisfied the financing conditions of this paragraph if Xxxxx obtains estate or another home, or a loan written commitment in accordance with the terms of this paragraph even though the loan is conditioned on the sale and/or closing of other real estate or another home, shall NOT be deemed a denial of such mortgage application under this paragraph. In either of such events the BUYER shall not be entitled to terminate this Agreement nor be entitled to the return of any existing real estatesums paid by the BUYER on account of this Agreement. If Seller at Seller’s option and expense, within thirty (30) days after Xxxxx’s notice, procures for Buyer such commitment or notifies Buyer that Seller will accept a purchase money mortgage upon Should the same termsBUYER fail to comply with the foregoing requirements, this Contract Agreement shall remain continue in full force and effect. In such event, Seller shall notify Buyer within five (5) Business Days after Xxxxx’s notice of Seller’s election to provide or obtain such financing, and Buyer the rights and obligations of the parties shall furnish to Seller or lender all requested information and shall sign all papers necessary to obtain the mortgage commitment and to close the loanbe as if this paragraph did not appear in this Agreement.

Mortgage Contingency. This Contract Agreement is contingent upon Xxxxx BUYER obtaining a firm written mortgage commitment (except for matters of title and survey or matters totally within a loan without any condition(s) beyond Buyer’s control) reasonable ability to satisfy, to be secured by a first mortgage on the Premises, in such an amount for which BUYER shall apply which shall not be in excess of $ from a lending institution or licensed mortgage broker, which loan shall be for a term of not more than 30 years and shall bear interest at a rate then in effect at the institution where application is made and shall include such other terms and conditions as are imposed by such institution at the time BUYER makes such application. BUYER agrees to make prompt application for such a loan and to pursue said application with diligence. If having done so, BUYER is unable to obtain a written commitment for such a loan on or before , 20 for a (choose one) fixed adjustable; (choose one) conventional other loan of $ 20_ _, and if BUYER so notifies SELLER or such lesser amount as Buyer elects to takeSELLER's attorney, plus private mortgage insurance (PMI), if required. The interest rate (initial ratein writing, if applicable) shall not exceed % per annumat or before 5:00 p.m., amortized over not less than years. Buyer shall pay loan origination fee and/or discount points not to exceed % of the loan amount. Buyer shall pay the cost of applicationon said date, usual and customary processing fees and Closing costs charged by lender. Buyer shall make written loan application within five (5) business days after the Date of Acceptance. Failure to do so shall constitute an act of default under then this Contract. If Buyer, having applied for the loan specified above, is unable to obtain such loan commitment and serves written notice to Seller within the time specified, this Contract Agreement shall be null and voidvoid and the BUYER shall be entitled to the immediate return by SELLER of all sums paid by the BUYER on account of this Agreement except for the sum of Three Hundred Fifty ($350.00) Dollars towards the cost of preparation of this Agreement. If SELLER or SELLER's attorney does not receive such written notice of inability to obtain such loan commitment is not served within the time specifiedat or before 5:00 p.m. on said date, Buyer shall be deemed to have waived this contingency and this Contract Agreement shall remain in full force and effect. This Contract shall not be contingent The foregoing notwithstanding, a denial of BUYER's mortgage application based upon the sale and/or closing of any existing BUYER's inability to sell other real estate. Buyer shall be deemed to have satisfied the financing conditions of this paragraph if Xxxxx obtains estate or another home, or a loan written commitment in accordance with the terms of this paragraph even though the loan is conditioned on the sale and/or closing of other real estate or another home, shall NOT be deemed a denial of such mortgage application under this paragraph. In either of such events the BUYER shall not be entitled to terminate this Agreement nor be entitled to the return of any existing real estatesums paid by the BUYER on account of this Agreement. If Seller at Seller’s option and expense, within thirty (30) days after Xxxxx’s notice, procures for Buyer such commitment or notifies Buyer that Seller will accept a purchase money mortgage upon Should the same termsBUYER fail to comply with the foregoing requirements, this Contract Agreement shall remain continue in full force and effect. In such event, Seller shall notify Buyer within five (5) Business Days after Xxxxx’s notice of Seller’s election to provide or obtain such financing, and Buyer the rights and obligations of the parties shall furnish to Seller or lender all requested information and shall sign all papers necessary to obtain the mortgage commitment and to close the loanbe as if this paragraph did not appear in this Agreement.

Mortgage Contingency. This Contract Agreement is contingent upon Xxxxx BUYER obtaining a firm written mortgage commitment (except for matters of title and survey or matters totally within Buyer’s control) on or before , 20 for a (choose oneloan without any condition(s) fixed adjustable; (choose one) conventional other loan of $ or beyond BUYER’S reasonable ability to satisfy, to be secured by a first mortgage on the Premises, in such lesser an amount as Buyer elects to take, plus private mortgage insurance (PMI), if required. The interest rate (initial rate, if applicable) for which BUYER shall apply which shall not exceed % per annumbe in excess of $1,923,750.00 from a lending institution or licensed mortgage broker, amortized over not less than yearswhich loan shall be for a term of thirty (30) years and shall bear interest at a rate then in effect at the institution where application is made and shall include such other terms and conditions as are imposed by such institution at the time BUYER makes such application. Buyer shall pay BUYER agrees to make prompt application for such a loan origination fee and/or discount points not and to exceed % of the loan amount. Buyer shall pay the cost of application, usual and customary processing fees and Closing costs charged by lender. Buyer shall make written loan pursue said application within five (5) business days after the Date of Acceptance. Failure to do so shall constitute an act of default under this Contractwith diligence. If Buyerhaving done so, having applied for the loan specified above, BUYER is unable to obtain a written commitment for such a loan commitment on or before November 22, 2021, and serves written notice to Seller within the time specifiedif BUYER so notifies SELLER or SELLER's attorney, in writing, at or before 5:00 p.m., on said date, then this Contract Agreement shall be null and voidvoid and the BUYER shall be entitled to the immediate return by SELLER of all sums paid by the BUYER on account of this Agreement except for the sum of Four Hundred Fifty ($450.00) Dollars towards the cost of preparation of this Agreement. If SELLER or SELLER's attorney does not receive such written notice of inability to obtain such loan commitment is not served within the time specifiedat or before 5:00 p.m. on said date, Buyer shall be deemed to have waived this contingency and this Contract Agreement shall remain in full force and effect. This Contract shall not be contingent The foregoing notwithstanding, a denial of BUYER's mortgage application based upon the sale and/or closing of any existing BUYER's inability to sell other real estate. Buyer shall be deemed to have satisfied the financing conditions of this paragraph if Xxxxx obtains estate or another home, or a loan written commitment in accordance with the terms of this paragraph even though the loan is conditioned on the sale and/or closing of other real estate or another home, shall NOT be deemed a denial of such mortgage application under this paragraph. In either of such events the BUYER shall not be entitled to terminate this Agreement nor be entitled to the return of any existing real estatesums paid by the BUYER on account of this Agreement. If Seller at Seller’s option and expense, within thirty (30) days after Xxxxx’s notice, procures for Buyer such commitment or notifies Buyer that Seller will accept a purchase money mortgage upon Should the same termsBUYER fail to comply with the foregoing requirements, this Contract Agreement shall remain continue in full force and effect. In such event, Seller shall notify Buyer within five (5) Business Days after Xxxxx’s notice of Seller’s election to provide or obtain such financing, and Buyer the rights and obligations of the parties shall furnish to Seller or lender all requested information and shall sign all papers necessary to obtain the mortgage commitment and to close the loanbe as if this paragraph did not appear in this Agreement.

Mortgage Contingency. This Contract Agreement is contingent upon Xxxxx BUYER obtaining a firm written commitment for a loan or loans without any condition beyond the reasonable ability of BUYER to satisfy, to be secured by a mortgage or mortgages on the Premises, in such an amount for which BUYER shall apply which shall not exceed $ from a lending institution or licensed mortgage broker, which loan(s) shall be for a term of not more than 30 years and shall bear interest at prevailing rates and shall include such other terms and conditions as are imposed by the lending institution at the time BUYER makes such application. BUYER agrees to make prompt application for such a loan or loans and to pursue said application(s) with diligence. If, having done so, BUYER is unable to obtain a written commitment (except for matters of title and survey such a loan or matters totally within Buyer’s control) loans on or before , 20 for a 200 , (choose one) fixed adjustable; (choose one) conventional other loan of $ or such lesser amount as Buyer elects to take, plus private mortgage insurance (PMI), if required. The interest rate (initial rate, if applicable) shall not exceed % per annum, amortized over not less than years. Buyer shall pay loan origination fee and/or discount points not to exceed % Time being of the loan amount. Buyer shall pay the cost of applicationessence as to this date) and if BUYER so notifies SELLER or SELLER’S attorney, usual and customary processing fees and Closing costs charged by lender. Buyer shall make written loan application within five (5) business days after the Date of Acceptance. Failure to do so shall constitute an act of default under in writing in accordance with paragraph 20 hereof, at or before 5:00 p.m. on said date, then this Contract. If Buyer, having applied for the loan specified above, is unable to obtain such loan commitment and serves written notice to Seller within the time specified, this Contract Agreement shall be null and voidvoid and the BUYER shall be entitled to the immediate return by SELLER of all sums paid by the BUYER on account of this Agreement except for the sum of Two Hundred Fifty ($250.00) Dollars towards the cost of preparation of this Agreement. Also, if the property is governed by the Common Interest Ownership Act, the cost incurred by the SELLER for the Re-sale certificate and related charges, if any, shall be reimbursed to the SELLER. If SELLER or SELLER’S attorney does not receive such written notice of inability to obtain such loan commitment is not served within the time specifiedat or before 5:00 p.m. on said date, Buyer shall be deemed to have waived this contingency and this Contract Agreement shall remain in full force and effect. This Contract shall not be contingent The foregoing notwithstanding, a denial of BUYER’S mortgage application based upon the sale and/or closing of any existing BUYER’S inability to sell other real estate. Buyer shall be deemed to have satisfied the financing conditions of this paragraph if Xxxxx obtains estate or another home, or a loan written commitment in accordance with the terms of this paragraph even though the loan is conditioned on the sale and/or closing of other real estate or another home, shall NOT be deemed a denial of such mortgage application under this paragraph. In either of such events the BUYER shall not be entitled to terminate this Agreement nor be entitled to the return of any existing real estatesums paid by the BUYER on account of this Agreement. If Seller at Seller’s option and expense, within thirty (30) days after Xxxxx’s notice, procures for Buyer such commitment or notifies Buyer that Seller will accept a purchase money mortgage upon Should the same termsBUYER fail to comply with the foregoing requirements, this Contract Agreement shall remain continue in full force and effect. In such event, Seller shall notify Buyer within five (5) Business Days after Xxxxx’s notice of Seller’s election to provide or obtain such financing, and Buyer the rights and obligations of the parties shall furnish to Seller or lender all requested information and shall sign all papers necessary to obtain the mortgage commitment and to close the loanbe as if this paragraph did not appear in this Agreement.

Mortgage Contingency. This Contract Agreement is contingent upon Xxxxx BUYER obtaining a firm written mortgage commitment (except for matters of title and survey or matters totally within Buyer’s control) on or before , 20 for a (choose oneloan without any condition(s) fixed adjustable; (choose one) conventional other loan of $ or beyond BUYER’S reasonable ability to satisfy, to be secured by a first mortgage on the Premises, in such lesser an amount as Buyer elects to take, plus private mortgage insurance (PMI), if required. The interest rate (initial rate, if applicable) for which BUYER shall apply which shall not exceed % per annumbe in excess of $_ from a lending institution or licensed mortgage broker, amortized over not less than yearswhich loan shall be for a term of __ years and shall bear interest at a rate then in effect at the institution where application is made and shall include such other terms and conditions as are imposed by such institution at the time BUYER makes such application. Buyer shall pay BUYER agrees to make prompt application for such a loan origination fee and/or discount points not and to exceed % of the loan amount. Buyer shall pay the cost of application, usual and customary processing fees and Closing costs charged by lender. Buyer shall make written loan pursue said application within five (5) business days after the Date of Acceptance. Failure to do so shall constitute an act of default under this Contractwith diligence. If Buyerhaving done so, having applied for the loan specified above, BUYER is unable to obtain a written commitment for such a loan commitment on or before _ _, 20 , and serves written notice to Seller within the time specifiedif BUYER so notifies SELLER or SELLER's attorney, in writing, at or before 5:00 p.m., on said date, then this Contract Agreement shall be null and voidvoid and the BUYER shall be entitled to the immediate return by SELLER of all sums paid by the BUYER on account of this Agreement except for the sum of Four Hundred Fifty ($450.00) Dollars towards the cost of preparation of this Agreement. If SELLER or SELLER's attorney does not receive such written notice of inability to obtain such loan commitment is not served within the time specifiedat or before 5:00 p.m. on said date, Buyer shall be deemed to have waived this contingency and this Contract Agreement shall remain in full force and effect. This Contract shall not be contingent The foregoing notwithstanding, a denial of BUYER's mortgage application based upon the sale and/or closing of any existing BUYER's inability to sell other real estate. Buyer shall be deemed to have satisfied the financing conditions of this paragraph if Xxxxx obtains estate or another home, or a loan written commitment in accordance with the terms of this paragraph even though the loan is conditioned on the sale and/or closing of other real estate or another home, shall NOT be deemed a denial of such mortgage application under this paragraph. In either of such events the BUYER shall not be entitled to terminate this Agreement nor be entitled to the return of any existing real estatesums paid by the BUYER on account of this Agreement. If Seller at Seller’s option and expense, within thirty (30) days after Xxxxx’s notice, procures for Buyer such commitment or notifies Buyer that Seller will accept a purchase money mortgage upon Should the same termsBUYER fail to comply with the foregoing requirements, this Contract Agreement shall remain continue in full force and effect. In such event, Seller shall notify Buyer within five (5) Business Days after Xxxxx’s notice of Seller’s election to provide or obtain such financing, and Buyer the rights and obligations of the parties shall furnish to Seller or lender all requested information and shall sign all papers necessary to obtain the mortgage commitment and to close the loanbe as if this paragraph did not appear in this Agreement.

Mortgage Contingency. This Contract Agreement is contingent upon Xxxxx BUYER obtaining a firm an unconditional written mortgage commitment (except for matters of title and survey or matters totally within Buyer’s control) on or before , 20 for a (choose one) fixed adjustable; (choose one) conventional other loan of $ or loan, to be secured by a first mortgage on the Premises, in such lesser an amount as Buyer elects to take, plus private mortgage insurance (PMI), if required. The interest rate (initial rate, if applicable) for which BUYER shall apply which shall not exceed % per annumbe in excess of $AMOUNT OF MORTGAGE from a lending Institution or licensed mortgage broker, amortized over which loan shall be for a term of not less more than years30 years and shall bear interest at a rate then in effect at the institution where application is made and shall include such other terms and conditions as are imposed by such institution at the time BUYER makes such application. Buyer shall pay XXXXX agrees to make prompt application for such a loan origination fee and/or discount points not and to exceed % of the loan amount. Buyer shall pay the cost of application, usual and customary processing fees and Closing costs charged by lender. Buyer shall make written loan pursue said application within five (5) business days after the Date of Acceptance. Failure to do so shall constitute an act of default under this Contractwith diligence. If Buyerhaving done so, having applied for the loan specified above, XXXXX is unable to obtain such a unconditional written commitment for Such a loan commitment on or before CONTINGENCY MONTH, DAY, YEAR and serves written notice to Seller within the time specifiedif BUYER so notifies SELLER or SELLER's attorney, SELLING COUNSEL., in writing, at or before 5:00 p.m., on said date, then this Contract Agreement shall be null and voidvoid and the BUYER shall be entitled to the immediate return by SELLER of all sums paid by the BUYER on account of this Agreement. If SELLER or SELLER's attorney does not receive such written notice of inability to obtain such loan commitment is not served within the time specifiedat or before 5:00 p.m. on said date, Buyer shall be deemed to have waived this contingency and this Contract Agreement shall remain in full force and effect. This Contract shall not be contingent A denial of XXXXX's mortgage application based upon the sale and/or closing of any existing BUYER's inability to sell other real estate. Buyer shall be deemed to have satisfied the financing conditions of this paragraph if Xxxxx obtains estate or another home, or a loan written commitment in accordance with the terms of this paragraph even though the loan is conditioned on the sale and/or closing of other real estate or another home, shall NOT be deemed a denial of such mortgage application under this paragraph. In either of such events the BUYER shall not be entitled to terminate this Agreement nor be entitled to the return of any existing real estatesums paid by the BUYER on account of this Agreement. If Seller at Seller’s option and expense, within thirty (30) days after Xxxxx’s notice, procures for Buyer such commitment or notifies Buyer that Seller will accept a purchase money mortgage upon Should the same termsBUYER fail to comply with the foregoing requirements, this Contract Agreement shall remain continue in full force and effect. In such event, Seller shall notify Buyer within five (5) Business Days after Xxxxx’s notice of Seller’s election to provide or obtain such financing, and Buyer the rights and obligations of the parties shall furnish to Seller or lender all requested information and shall sign all papers necessary to obtain the mortgage commitment and to close the loanbe as if this paragraph did not appear in this Agreement.

Mortgage Contingency. This Contract Agreement is contingent upon Xxxxx BUYER obtaining a firm written commitment for a loan without any condition(s) beyond BUYER’S reasonable ability to satisfy, to be secured by a first mortgage on the Premises, in such an amount for which BUYER shall apply which shall not be in excess of $ from a lending institution or licensed mortgage broker, which loan shall be for a term of years and shall bear interest at a rate then in effect at the institution where application is made and shall include such other terms and conditions as are imposed by such institution at the time BUYER makes such application. XXXXX agrees to make prompt application for such a loan and to pursue said application with diligence. If having done so, BUYER is unable to obtain a written commitment (except for matters of title and survey or matters totally within Buyer’s control) such a loan on or before , 20 for a (choose one) fixed adjustable; (choose one) conventional other loan of $ 200 , and if BUYER so notifies SELLER or such lesser amount as Buyer elects to takeSELLER's attorney, plus private mortgage insurance (PMI)in writing, if required. The interest rate (initial rateat or before 5:00 p.m., if applicable) shall not exceed % per annumon said date, amortized over not less than years. Buyer shall pay loan origination fee and/or discount points not to exceed % of the loan amount. Buyer shall pay the cost of application, usual and customary processing fees and Closing costs charged by lender. Buyer shall make written loan application within five (5) business days after the Date of Acceptance. Failure to do so shall constitute an act of default under then this Contract. If Buyer, having applied for the loan specified above, is unable to obtain such loan commitment and serves written notice to Seller within the time specified, this Contract Agreement shall be null and voidvoid and the BUYER shall be entitled to the immediate return by SELLER of all sums paid by the BUYER on account of this Agreement except for the sum of Four Hundred Fifty ($450.00) Dollars towards the cost of preparation of this Agreement. If SELLER or SELLER's attorney does not receive such written notice of inability to obtain such loan commitment is not served within the time specifiedat or before 5:00 p.m. on said date, Buyer shall be deemed to have waived this contingency and this Contract Agreement shall remain in full force and effect. This Contract shall not be contingent The foregoing notwithstanding, a denial of BUYER's mortgage application based upon the sale and/or closing of any existing BUYER's inability to sell other real estate. Buyer shall be deemed to have satisfied the financing conditions of this paragraph if Xxxxx obtains estate or another home, or a loan written commitment in accordance with the terms of this paragraph even though the loan is conditioned on the sale and/or closing of other real estate or another home, shall NOT be deemed a denial of such mortgage application under this paragraph. In either of such events the BUYER shall not be entitled to terminate this Agreement nor be entitled to the return of any existing real estatesums paid by the BUYER on account of this Agreement. If Seller at Seller’s option and expense, within thirty (30) days after Xxxxx’s notice, procures for Buyer such commitment or notifies Buyer that Seller will accept a purchase money mortgage upon Should the same termsBUYER fail to comply with the foregoing requirements, this Contract Agreement shall remain continue in full force and effect. In such event, Seller shall notify Buyer within five (5) Business Days after Xxxxx’s notice of Seller’s election to provide or obtain such financing, and Buyer the rights and obligations of the parties shall furnish to Seller or lender all requested information and shall sign all papers necessary to obtain the mortgage commitment and to close the loanbe as if this paragraph did not appear in this Agreement.