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IN ORE F for Sale Agreement ft 1815BM ^•s^ •"�'^LC RESIDENTIAL REAL ESTATE SALE AGREEMENT OREF 001 I ver.1.1 I Page 3 of 11 95 (2)Buyer shell submit to Buyer's Lender a completed loan application for purchase of fire Property not later than business days(three[3]if not 96 fled in)following the dale Buyer and Seller have signed and accepted this Agreement. A"completed loan application-shall include the following 97 Information: O Buyers name(s); (it) Buyer's Income(s); (III)Buyer's social security number(s); (iv)The Property address: (v) an estimate of the 96 value of the Property;and(ri)the loan amount sought. 99 (3)Buyer agrees,8 Buyer Intends to proceed with the ban transaction Buyer wall so notify Lender within business drys(tree(3)fl not Red F-bol not to 100 exceed ten[10])In such farm as required by said Lender.following Buyer's receipt of Lender's loan Estimate.Upon request Buyer shall promptly notify 101 Seller of the date dBuyer's signed notice dlntent to proceed with the loan. 102 (4)Buyer will thereafter complete all paperwork requested by the Lender, Including payment of all appplinGon.appraisal and processing fees,to 103 obtain the loan. 104 (5)Buyer understands and agrees. Buyer may not replace the Lender or Loan Program already selected,without Seller's written consent,which 105 may be withheld in Seller's sole discretion. 106 (6) Following submission of the loan appgcation. Buyer agrees to keep Seller promptly informed of all material non-confidential developments 107 regarding Buyer's financing and the time of Closing. 106 (7)Buyer shall authorize me Lender to order the appraisal no later than expration of the Inspection Period at Section 10(Mumblers).below of this 109 Agreement,(or Section 1 of the OREF 056 Professional Inspection Addendum if used). 110 (8) Buyer authorizes Buyer's Lender to provide non-confidential Information to Buyer's and Seller's Agents regarding Buyer's loan application 111 status. 112 6.1 INSURANCE Buyer Is encouraged to promptly verify the avafabity and cost of propertylcasualtylfire insurance that will be secured for the 113 Property.Additionally,Landers may require proof of propertylcasuallylfire insurance as a condition of the loan. 114 8.2 FLOOD INSURANCE;ELEVATION CERTIFICATE:If the Property Is located In a designated flood zone,flood Insurance may be required as a 115 condition of a new loan. Buyer is encouraged to promptly verify the need, availability, and cost of flood insurance. if applicable. An Elevation 116 Certificate CEC')is the document used by the federal National Flood Insurance Program CNFIP)to determine the difference in elevation between 117 a home or Wilding and es base flood elevation('BEE"),with is a computed elevation to which floodwater S anticipated to rise doing certain floods. 118 The amount of flood insurance premium for a particular properly is tesed upon the EC. Not all properties In flood zones require an EC,dopendng 119 upon when they were constructed. ECs must be prepared and certified by a land surveyor.engineer,or architect who is authorized by the local 120 - ctim to certify elevation information.The costs and fees for an EC may range from a few hundred dollars to over a thousand.N the Property 121 requires an EC, It will need to be obtained prior to receiving a flood Insurance quote.Additionally Landers may require an EC as a 122 condition of loan approval.Far more Information,go to the following website:www.fema.aov 123 7. SELLER.CARRIED FINANCING (E.G., LAND SALE CONTRACT/TRUST DEEDINORTGAGEIOPTION AGREEMENTS. RENT-TO-OWN, 124 ETC.): Notice to Buyer and Seller If this transaction involves a land sale contract. bust deed. mortgage. option, or lease-to-own agreement 125 (hereinafter a -Seller Carried Transaclbn'), Oregon lav requires. unless exempted. Individuals offering or negotiating the terms meal hold a 126 mortgage loan originator CMLO')license. Your real estate agent Is not qualified to provide these services or to advise you in this regard. Legal 127 advice Is strongly recommended. R this Is a Seller-Celled Transaction. Buyer and Seller are advised to review the OREF 032 Seller-Cabled 128 Transactions Buyer and Seller Advisory. Buyer and Seller agree as follows(select only one): 129 0(a)Use the OREF 033 Seger-Carded Transaction Addendum and related forms;a 130 0(b)Secure separate legal counsel to negotiate and draft the necessary documents or employ an MLO 131 Seller and Buyer agree,regardless ofwhether(a)or(b)is selected,they will roach a signed written agreement upon the terms and conditions of such 132 financing(e.g.,dawn 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 nal business day following the date they have signed and accepted this Sale Agreement(-Negotiation of Terms 134 Pedad'y Upon failure of Buyer and Selo to reach agreement by 5:00 p.m.on the last day of the Negotiation of Terms Period, or such other Wines 135 as may be agreed upon In writing, all earnest money deposits shall be refunded to Buyer and this transaction shall be autoneamtly aminated. 136 Caveat Buyer's and Selene Arne are not authorized to tender advice on these mantra Buyer and seder an advised to secure 137 competent legal advice while engaged In Seller-Carded neonatal. 136 8.ADDITIONAL FINANCING PROVISIONS(e.g.Closing Cats): • 139 140 � Buyer eilbla.—/-Z:- +'/ Date 11 /22/2021 Seller1h I Date 1l//[r A The form has been Ilwnsed for use solely by Jerry Jones pursuant to•Forms License Ag with Oregon Real Estate Fo ,LLC. LINES WITH THIS SYMBOL c—REQUIRE A SIGNATURE OF BUYER AND/OR SELLER AND DATE Copyright Oregon Real Estate Forms,LLC 2021 namaraftlinacom No portion may be reproduced without express permission of Oregon Real Estate Forms,LLC OREF 001 l Page 3 of 11 Produce:v.Lone Wolf Tnnwlone l4Forn FMEn)Til N IWxmd 51 Suit 9W.Oates,TX 15201 aww.adimm IBIS Perwu Doc ID:4b394c1ec8a6818ee4e30b59d241 c5072ada5d0b