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Jan 04 08 09:51a 651-739-0963 p.14 FINANCING ADDENDUM � � C�NVENTIONAL QR PRIVATELY � ' INSURED CO1wlVENTIONAL MORTGAGE This iorrn approved by ihe Minnesola Associa6on oF ftEAtTOAS�, which disclaims any IiabiGty arising o�t oE use or misuse oF this fortn. p 2007 Minnesola Association o9 REALTORS'�, Edina, MN 1. Date December 14, 20d7 2. Page - 3. Addendum to Purchase Agreement beiween parties, dated 12�14 _, 20 fl$ , pertaining to the 4. purchase ard sale oi the pro�erty ai 1�� ti��ODHILLE DRIVE, R�SEVILLE 5. 6. l"here 01S ❑X IS NOT a Buyars F'inancial Disclosure Statementsubmitted with this Purchase Agreement. ----- fcned; orra.}----- 7. Financing wiB be a❑K F1RST MORTGAGE only ❑ FIRST MORTGAGE AND SUBORDINAT£ FINAt�CiNG. --------------------------------•--------(Check on�}-�------------------------------------- 8. Buyer shail apply ior and secure, at Buye�'s expense, a FIXED 9. [� CONVENTIONAL ❑ PRIVATELY �NSUHED GdAEVENTIONAL First Mortgage ----- �ictie.�-.,� �--------------------•-- (e.g.� fixed, ARM) 10, 11. 12. 13. 14. 1 �. 76. 17. 18. 19. 20. 21. 22. 23. 24. 25. amortized monthly over a period of not more than 30 years, with an init3al mortgage interes! rate at no more than 6.00 percent (%j per annum. 7he mortgage application ISTO BE MADE WITHIN FlVE (5) BUSINESS DAYS after the acceptance of this Purchase Agreerrient. Buyer agrees to use best efforts #o secure a commitment for such iinancing and to execute all documents required to consummate said finanang. FIMANCING CONTINGEhICY: This Purchase Agreement is contingent upon ihe fallowing and applies to the first mortgage arsd ar�y subordinate �inancing. (Check one.) For purposes of this Contingency, "Written StatemenY' means a Writien Statement prepared by Buyer's mortgage originator(s) or lender(s) after the Fr�al Acceptance Date that Buyer is appro�ed forthe ��an(s) specified in this Purchase Agreement, incfuding both the first mortgage and any subordinate finanang, if any, and stafing that an appraisal, salisfactory to the lender(s), has been completed and siating conditions require� ay lender(s) to close the loan. � If Buyer cannot secure such martgage(s) and this Purchase Agreement does not close on the closing date specified, this Purchase Agreement is canceled. Buyer and Seller shall immediately sign a Cancellation of Purchase Agreement confirming said cancellation and directing al! earnest money paid he�eunder to be Q REFEJNDEDTO BUYER [� FORF'ElTEDiO SELLER. 26. ❑ Buyer shali provide Seller, or licensee representing or assisting Seller, with the Writien Statement, on 27. 28. 29. 30. 31. 32. 33. 34. 35. 36. 37. 36. 39. 40_ 41. 42. or before , 20 Upon dellvery of the Written Staiement to Seller, or licensee represeriting or assisting SeNer, the responsibikity for satisfying all conditions, except work orders, required by mortgage originator(s) ar lender{s) are deemed accepted by Buysr. Upon delivery of the Written Statement, 'rf this Purchase Agresment does not close on the stated closing date for ANY REASON relaiing to financing, other than Seller's failure to complete work orders to the extent required by this Purchase Agreement, including but not [imited to interest rate and discount points, ii any, SeUer may, at Seller's option, de�lare this Purchase Agreement canceled, in which case this Purchase Agreemerrt is canceled. If Selter declares this Purchase Agreement cartceled, Buyer and Seller shall immediately sign a Cancellafion of Purchase Agreementconfirming said cancellation and directing a31 eamest money paid #�ereunder to be forfeited to Seller as liquidated damages. ln the altemative, Seller may seek all other remedies allowed by law. if the Written Statement is not provided by the date specified on (ine 27, this Purchase Agreement is cancel�d:. Suyer and Seller shall irnmediately sEgn a Cancellafion of Purchase Agreement confirrr�ing said cancelEation and directing all earnest rnoney paid hel'eunder to be refunded to Buyer. THIS IS A LEGALLY Bl�1AlIVG COf�lTRACT BETWEEN BUYER(Sl AND SELLER(S). IFYOL7 DESIRE LEGAL ORTAX ADYICE, CONSULT AN APPROPRIATE PROFESSIONAL. � L eR ��5-i �o�ro�)