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ItSale Agreement# 1815BM
<br /> IA OREF Q RESIDENTiAL REAL ESTATE SALE AGREEMENT
<br /> OREF 001 I Ver.1.1 I Page 6 of 11
<br /> 243 executing and delivering Ont instrument,affidavit or statement as requested,and to perform any acts reasonable or necessary to carry out the provisions of
<br /> 244 Oregon law.
<br /> 245 15.2 FIRPTA TAX WITHHOLDING REQUIREMENT: Seller and Buyer are advised, during Closing, a Federal law, known as the Foreign
<br /> 246 Investment in Real Property Tax Act of 1980(°FIRPTA`),requires a buyer to withhold a portion of a sellers proceeds(up to 15%of the Purchase
<br /> 247 Price)if the real property is located within the United States and the seller Is a"foreign person"who does not qualify for an exemption.A'foreign
<br /> 248 parson' includes a nonresident ellen individual, foreign corporation that has not made an election under Section 897(1) of the Internal Revenue
<br /> 249 Code to be treated as a domestic corporation, foreign partnership. foreign trust. or a foreign estate, but it does not Include a resident alien
<br /> 250 individual.
<br /> 251 If FIRPTA applies(i.e.Sellar is a foreign person),even if there is an exemption,Buyer and Seller must so inform Esrxow to determine the extent to
<br /> 252 which Escrow can assist the parties in compliance with FIRPTA (see OREF 092- FIRPTA Advisory). Sellers failure or refusal to comply with
<br /> 253 FIRPTA requirements constitutes a material default under this Agreement
<br /> 254 If FIRPTA does not apply 0.e.Seller Is not a foreign person),then Seller shall complete, sign, and deliver to Escrow a form of certification of non-
<br /> 255 foreign status pmvbed by escrow that complies wit the requirements of 26 CFR§ 1.1445-2 (the 'Certificate) prior to Closing. If Seller falls or
<br /> 256 refuses to complete, sign, and deliver the Certificate to Escrow prior b Closing, Seller understands and agrees Seller will be presumed to be a
<br /> 257 foreign person in which case the terms of the above paragraph applies. Escrow is hereby instructed to act as a"Qualified Substitute° and poWde
<br /> 258 Buyer with a qualified substitute statement that comes with the requirements of 26 USC § 14450)(9) in lieu of the Certificate at Closing so
<br /> 259 Sellers personal information is not disclosed to Buyer.
<br /> 260 If Escrow is unable or unwilling to assist with the FIRPTA-related portion of the Closing (Including,without limitation, providing the form Certificate
<br /> 261 or acting as a Qualified Substitute), Buyer or Seller(as applicable)has the right, but not the obligation,to move Escrow to another Oregon licensed
<br /> 262 escrow agent who is wiling to assist with the FIRPTA-related #Mian of the Closing,in which case the parties'shall sham equally In the cost of any
<br /> 263 cancellation fees(if applicable).If,due b moving Escrow,this transaction cannot be dosed by the Closing Dale,the parties agree the Closing Date
<br /> 264 will be extended for a reasonable period of time,not to exceed five (5)business days,to accommodate moving He transaction to the new escrow
<br /> 265 agent.
<br /> 266 Sellers and Buyer's Agents am not experts in FIRPTA and will not ad as a transferor or transferee agent or"Qualified Substitute' for purposes
<br /> 267 of the Withholding Requitement If FIRPTA may apply in the transaction, Seller and Buyer should promptly consult their own experts familiar
<br /> 266 with FIRPTA related the law and regulations For further Information.Seller and Buyer should go to:www.lrs gov.
<br /> 269 16. "AS4S": Except for Sellers express written agreements and written representations contained herein, and Sellers Property
<br /> 270 Disclosure,If any,Buyer is purchasing the Property"AS4S,"In its present condition and with all defects apparent or not apparent.This
<br /> 271 provision-shall not he construed to limit Buyers right to implied new home warranties, if any, that may otherwise exist under Oregon
<br /> 272 law.
<br /> MISCELLANEOUS ITEMS
<br /> 273 17.HOMEOWNER'S ASSOCIATION I TOWNHOME I PLANNED COMMUNITY: Is the Property a townrome.In a planned community,or have a
<br /> 274 Homeowners Association? ❑Yes ®No ❑ Unknown
<br /> 275 If yes,OREF 024 Homeowners Association/Townhome I Planned Community Addendum will be attached to this Sale Agreement.
<br /> 276 18.ALARM SYSTEM: 0 NONE DOWNED ❑LEASED XIUNKNOWN.If leased,Buyer❑will ©will not assume the lease at Closing.
<br /> 277 19.SMOKEICARBON MONOXIDE DETECTORS:Within business days (fifteen[15]if not filed In)after the date Buyer and Seller have
<br /> 278 signed and accepted this Agreement,the dwelling will have one or more operating smoke alarms,smoke detectors,and carbon monoxide
<br /> 279 detectors Installed as required by law.Refer to ORS 479.210 for smoke detectors and ORS 476.725 for carbon monoxide alarms.
<br /> 280 20.SMART HOME FEATURES:Does the property contain any'Salmi Home'features?
<br /> 281 ❑Yes 0 No Unknown. f Yes.Seller to Identify al Smart HOlne features in writing wthin three business days of the date this Agreement Is signed and
<br /> 282 accepted.In addition,Saler to protide necessary Infomhelion for Buyer to access said Steed Home features at Closing,unless Mhwv$se agreed in writing
<br /> 283 'Stead hone features"refers to appliances.lighting andlor electronic devices that can be controlled remotely by the owner,often via a motile app.Smart
<br /> 284 horns enabled devices can also operate In conjunction with other devices In the home and communicate information to other smart devices.
<br /> 285 21.WOODSTOVEIWOOO BURNING FIREPLACE INSERT:Does the Property contain a woodalove or wood burning fireplace Insert?
<br /> 286 ❑Ye QXhb
<br /> 287 lyes:s the woodateve/wood burning fireplace insert certified? ❑Yes ❑No 0X Unknown. If"No"or"Unknown," Seller to provide Buyer with
<br /> 280 OREF 046 WoodstoveMlood Burning Fireplace Insert Addendum.
<br /> 289 22. HOME WARRANTEE: Hams warranty pans may be available to help cover homeowner costs to repair/replace certain home systems and
<br /> 290 appliances.(See specific plan for details.)Will a plan be purchased for Buyer as a part of this transaction?DYes ©No
<br /> 291 If yes,idenliN plan and cost: $ To be pais 51 Closing by: ❑Buyer ❑ llar
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<br /> Buyer Inll®Is 794.1 Date 11 /99/2021 Seller Initial• l Dale 11/a
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<br /> This form has been IMfor use solely by Jerry Jones BUYER teeForms licenseDg ,, : hOregon Real Estate Forms,LLC.
<br /> LINES WITH THISSYMBOL sF ns,LLC A SIGNATURE OF BUYER AND/OR SELLER AND DA
<br /> Copyright Oregonaepr Estate Forms,LLC 2021sswore on ReEcom
<br /> No portion may be reproduced without express permission of Oregon Real Estate Forms.LLC OREF 081 I Page fi o/11
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<br /> Doc ID:4b394c1fic8a6818ee4e30b59d241 c5072ada5dOb
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