Agenda - 1-3-17 Reg. Meeting - Laserfiche WebLink

Home Browse Search

059 S (ii) Proceeds of a new loan in the amount of _ - Dollars for a term of _ years, at an interest rate not to exceed per annum with mortgage loan discount poinLs not to exceed _ % of the loan amount, or such other terms as may be set forth on Exhibit B. Buyer shall pay sll costs associated Nvith any such loan. S (iii) Delivery of a promissory not secured by a deed of trust, said promissory note in the amount of — _ Dollars being payable over__ _ months in equal monthly installments of principal, together Nyith accrued interest on the outstanding principal balance at die rate of percent (—_ %) per amtutu, with the first principal payment beginning on file first day of the month next succeeding the date of Closing, or such other terms as may he set forth on Exhibit B. At any time, the promissory note may be prepaid in whole or in part without penalty and without further interest on the amounts prepaid from the date of such prepayvtent. (NOTE: In the event of Buyer's subsequent default upon a promissory note and deed of trust given hereunder, Seller's remedies may he limited to foreclosure of the Property. If the deed of trust given hereunder is subordinated to senior financing, the material terms of such financing must he set forth on Exhibit B. if such senior financing is subsequently foreclosed, the Seller may have no remedy to recover under the note.) S (iv) Assumption of that unpaid obligation of Seller secured by a deed of trust on the Property, such obligation having all outstanding principal balance of $_ _ _ _ __ _ - _ — and evidenced by a note bearing interest at the rate of —__ percent per anuuat, ur Buyer %hall pay all costs associawd with any such assumption, including any assumption fee charged by the lender. $ (v) Cash, balance of Purchase Price, at Closing in the amount of -- --- - -- -- -- -- Dalian. (c) "Closing" shall mean the date and time of recording of the deed. Closing shall occur on or before or _ (d) "Contract Date" means the date this Agreement has been fully executed by both Buyer and Seller. (e) ~Examination Period" shall mean the period beginning on the Contract Date and extending through TIME* IS OF THE ESSENCE A5 TO THE E.\Arl11NAT1ON PIERIOD. (f) "Broker(s)" shall mean: _THE STUMP CORPORATION _ ("Listing Agency"). ROBERT 1 DUNK ("Listing, Agent' - IJcense to Acting as: ® Seller's Agent: ❑ Dual Agent and _ -- - ____ _ _- -- ( Selling Agency'). ("Selling Agent"- Licenser .Acting as: ❑ Buyer's Agent; ❑ Seller's (Sub)As,ent; 13Dual Agent (g) "Seller's Notice Address" shall be as follows: Buyer Initials - Seiler Initial% Page 2 of 7 NC Bar Association Fonn No 13 c. 2006 Thin Standard Fenn hon been approwd jointly by the: North Catolina Bar Associaticm - NC Bar Fonn No. 13 North ('awlina Asxcuttion of REALTORS'. Inc. - Standard Fonn No. 590-T