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<br /> MDI OREF Q Sale Agreement# 18156th
<br /> RESIDENTAL REAL ESTATE SALE AGREEMENT
<br /> OREF 001 I Ver.1.1 I Page 4 of 11
<br /> CONTINGENCIES
<br /> 141 9.TITLE INSURANCE:When this Agreement is signed and accepted by Buyer end Seller,Seller will,at Seller's sole expense,promptly order from
<br /> 142 the tide insurance company selected at Section 24(Escrow), below,a preliminary elle report and copies of ark documents of record rhe Report
<br /> 143 and Documents of Record') for the Property, and furnish them to Buyer at Buyer's contact location as defined at Section 32 (3)
<br /> 144 (DefinitionWlnstructlons), below. Unless otherwise provided herein.this transaction is subject to Buyers review and approval of the Report and
<br /> 145 Documents of Record (R upon receipt, the Report and Documents of Record we not fully understood, Buyer should contact the title
<br /> 146 Insurance company for further kdor :Eon or seek competent legal advice). The Buyer's and Sena's Agents aro not qualified to advise
<br /> 147 on specific legs or title Issues.)Upon receipt of the Report and Documents of Record Buyer shall have _ business days(five 15]if not filled in)
<br /> 148 within which to notify Seller, In writing, of any matters disclosed In the Report and Documents of Record which is/are unacceptable One
<br /> 149 Objections"). Buyers failure to timely object In writing shall constitute acceptance of the Report andor Documents of Record. However, Buyers
<br /> 150 failure to timely object shall not relieve Seller of the duty to convey marketable title to the Property pursuant to Section 29(Deed),below.It within
<br /> 151 _business days(five I5i if not filled in)following Sellers receipt of the Objections,Seller fails to remove or correct the matters identified therein,
<br /> 152 or falls to give written assurances reasonably satisfactory to Buyer of removal or correction prior to Closing,all earnest money shall be promptly
<br /> 153 refunded to Buyer-and this transaction shall be terminated.This contingency is solely br Buyers benefit and may be waived by Buyer In writing.
<br /> 154 Within thirty(30)days after Closing,the De Insurance company shall furnish to Buyer,an owners standard form policy of title insurance insuring
<br /> 155 marketaNe title In the Property to Buyer in the amount of the Purchase Price,free and dear of the Objections,if any,and all other title exceptions
<br /> 156 agreed to be removed as part of this transaction.(Note:This Section 9(Tide Insurance)provides Seller will pay for Buyer's standard owner's
<br /> 157 policy of title insurance In some areas of the country, such a payment might be regarded as a "seller concession." Under the
<br /> 158 TILA/RESPA Integrated Disclosure Rules ('Me Rules$ there are limitations, regulations and disclosure requirements on "seller
<br /> 159 concessions',unless the poduct or service paid for by the Seller was one cusfamad v paid by sellers in residential sales transactions.
<br /> 160 In Oregon. sellem customarily and routinely pay for their buyer's standard owner's policy of title insurance. Accordingly, unless the
<br /> 161 terms of this Section 9 (ride Insurance) am modified in willing by Buyer and Seller, the parties acknowledge, agree and so instruct
<br /> 162 Escrow,in this transaction,Seller's payment of Buyer's standard owner's policy of title Insurance Is Dal a"seller concession"under the
<br /> 163 Rules or any other federal law.)
<br /> 164 10. INSPECRONSIENVIRONMENTAL HEALTH CONDITIONS:The fallowing list Identifies some, but not all, environmental conditions found In
<br /> 165 and around al real property that may affect health: asbestos, carbon monotlde, electric and magnetic fields, formaldehyde, lead and other
<br /> 166 contaminants In drinking water and well water,lead based paint, mold and mildew,melon,and leaking underground storage tanks. If Buyer has any
<br /> 167 concerns about these conditions or others,Buyer is encouraged to secure the services of a licensed professional inspector,consultant,or health
<br /> 168 expert, for information and guidance. Neither the Buyers nor Sellers Agents are experts in environmental health hazards or conditions. Buyer
<br /> 199 understands ft is advisable to have a complete inspection of the Property by a qualified licensed professional(s) relating to such matters as
<br /> 170 structural condition,soil condition/compaction/stability,environmental Issues,survey,zoning,operating systems,and suitability ler Buyers intended
<br /> 171 purpose. Neither Buyers nor Sellers Agent are qualified to conduct audr Inspections and shell not be respulisible to do so. For further details,
<br /> 172 Buyer Is encouraged to roaster the Buyer Advisory at www oreaonrealtara.orq and the Oregon Public Health Division at
<br /> 173 www public health.areonn OO .
<br /> 174 Check only one box below:
<br /> 175 ©LICENSED PROFESSIONAL INSPECTIONS: Al Buyers expense. Buyer may have the Property and all elements and systems thereof
<br /> 176 inspected by one or more licensed professionals of Buyers choice. Provided, however, Buyer must specifically Identify In MIs Agreement any
<br /> 177 desired Invasive inspections that may Include testing or removal of any portion of the Property Including,for example, radon end mold. Identify
<br /> 170 Invasive Inspections:Any of buyer's choosing to Include radon or mold.
<br /> 179 Buyer understands, Buyer is responsible for the restoration of the Property following any inspectionlsytest(s)pertained by Buyer or on Buyer's
<br /> 180 behalf.Buyer shall have 15 business days(ten 00]if not filled in),after the date Buyer and Seiler have signed and accepted this Agreement
<br /> 181 (hereinafter'the Inspection Period"). In which to complete all Inspections and negotiations with Seller regarding any matters disclosed in any
<br /> 182 inspection report. Buyer shall Om provide an or any portion of the inspection report to Seller unless requested by Seller.However,at any time
<br /> 183 during this transaction,or promptly following termination,upon request by Seller,Buyer shall promptly provide a copy of such reports or portions of
<br /> 184 reports,as requested.During the Inspection Period,Seller shall not be required to modify any terms of this Agreement already reached with Buyer.
<br /> 185 Unless a wnten agreement has already been reached with Seller regarding Buyer's requested repairs, at any time during the Inspection Period.
<br /> 186 Buyer may notiy Seller,in writing,of Buyer's unconditional disapproval of the Property based on any Inspection report(s),In which case,all earnest
<br /> 187 money deposits shall be promptly refunded,and this transaction shall be terminated.If Buyer fails to provide Seller with written unconditional
<br /> 188 disapproval of any Inspection report(s)by 5:00 p.et of the final day of the Inspection Period,Buyer shall he Sewed to have accepted the
<br /> 189 condition of the Property.Note if,prior to expiration of the Inspection Period,written agreement is reached with Seller regarding Buyer's
<br /> 190 requesld repairs,the Inspection Period shall automatically terminate unless the parties agree otherwise In writing.
<br /> 191 ❑ ALTERNATIVE INSPECTION PROCEDURES:OREF ON PROFESSIONAL INSPECTOR ADDENDUM
<br /> 192 ❑OTHER INSPECTION ADDENDUM ,
<br /> Buyer Initial(7 Date 11 /72/2021 Seller Inti,// I Date J) u Q/
<br /> This form has been licensed for use solely by Jerry Jones pursuant to a Fms License . - /Ar.ar . Oregon Real Estate Forms,LLC,
<br /> UNES WITH THIS SYMBOL 4—REQUIRE A SIGNATURE OF BUYER AND/OR SELLER AND DAT:
<br /> Copyright Oregon Real Estate Forms,LLC 2021 www mfonl rte corn
<br /> No portion may be repnduced without express pemmission of Oregon Real Estate Forms,LLC OREF 001 I Page 4 o111
<br /> Produced Mtn Lee Wolf True .ctkont lOFCml a dcn)717 N Hso0l SI,sui42200,Dallas,TX 75201 pytlakagil01 ISIS ni nenI
<br /> Doc IDS 4b394c1ec8e6818ee4e30b59d241c5072ada5d0b
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