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P OREF T=r Sale Agreement 1815BM ,..m=..,.."...w".. �,... RESIDENTIAL REAL ESTATE SALE AGREEMENT OREF 001 I ver.1.1 I Page 8 of 11 330 make a wire transfer ler Buyers earnest money; or (3) Buyer this to complete this transaction in accordance with the material terms of this 339 Agreement then Seller, at Salefs option,may terminate this Agreement and all earnest money paid a agreed to be paid shall be paid to Seller as 340 liquidated damages. The parties expressly agree Sellers economic and noneconomic damages alisblg torn Buyers failure to close this transaction In 341 accordance with the tends of NIs Agreement would be difficult or impossible to ascerfeinwih any certainty. and said earnest moneydepostl(s)Identified 342 herein shall represent a Nnding liquidated sum.and it Is a fair,reasonable and appropriate pre-estimate of Sellers damages.and is not a penalty.it is the 343 Intention of the parties, the Seller's sole remedy against Buyer for Buyer's failure to close this transaction In accordance with the 344 material terms of this Agreement shall be limited to the amount of earnest money paid or agreed to be paid herein. Seller's right to 345 recover from Buyer any unpaid earnest money agreed to be paid herein shall be in accordance with the provisions of the Dispute 346 Resolution Sections below. 347 28.1 CLOSING: Closing stall otos on a date mutually agreed upon between Buyer and Seller,but in no event later than 01107/2022 (The Closing 348 Deadline").The tones"Closed","Closing"or"Closing Date"shall mean when the deed or contract is recorded,and hods are available to Seller. Buyer and 349 Saler acknAedge for Closing to over by the Cling Deadline,it may be necessary b execute documents gn,Q deposit funds b Esoow prior to that date. 350 Caveat'Section 7 readies!three 131 days odor to the Cosine Deadline if Escrow is to oreoere a note end a deed of bust or moduage. 351 28.2 THE CLOSING DISCLOSURE:Pursuant to the federal TLA-RESPA Integrated Disclosure Rules(TRIO"),Buyer and Seller will each receive a 352 federally required document called a"Closing DiSdoswe",which,among other things.summarizes each parts closing costs.TRIO requires the Closing 353 Disclosure must be received by a residential loan bo rower at least three(3)business days prior to"consummation'of the transaction.which in most cases 354 in Oregon will be the date on which Buyer signs the loan documents. Under certain circumstances. a change to the Closing Disclosure late In the 355 transaction could resdt In a delay in Closing to comply with the three-business day rule.Such a delay beyond the Closing Dee&Pte conk/result in 356 termination of the transaction unless Seller and Buyer mutually agree to extendk 357 28.3 NOTICE REGARDING TITLE INSURANCE COSTS: The manner n welch TRID requires title insurance costs to be disclosed dfers from the areal 358 costs that may be charged to the parties under Oregon law.in such instances.at Closing.Escrow may issue a separate Statement sharing the actual costs 359 for an owners poky of title insurance and,where apprcabie,the lenders pdicy of title Insurance.Seller and Buyer we encouraged to&sorsa thls with 360 Eserawpiorto awing. 361 29. DEED: Seller shall convey marketable title to the Property by statutory warranty deed (or good and sufficient personal representative's or 362 trustees or similar legal fiduciary's deed,where applicable)free and clear of all Item of record,except property taxes that are a lien but not yet 363 payable,zoning ordinances,building and use restrictions,reservations in federal patents,easements of record that affect the Property,covenants, 364 conditions and restrictions of record,and those matters accepted by Buyer pursuant to Section 9(Title Insurance).above.If Buyers title will be held 366 in d:a name of more than one person,see Section 40(Offer to Purchase),below regarding forms of co-ownership. 366 30. POSSESSION: Seller shall remove all personal property (including trash and debris) that is not a part of this transaction, and deliver 367 possession of the Property to Buyer(select one): 368 (1)©by 5:00 p.m.on Closing'. 369 (2)0 by a.m.0 p.m. days atter Closing: 370 (3)0 by Da.m.0 pm.on the(insert date) 371 If a lenantls)is currently In possession of the Property,will Buyer accept the tenant(s)at closing?(check one): 372 ®No.Seller shall have full responsibility for removal of tenant(s)prior to closing and,if applicable,tenant relocation costs. 373 Dyes.If Yes,unless otherelse provided herein. all rents shall be prorated as of the closing date and tenant security deposits and any 374 other deposits held on behalf of the tenant(s)by Seller shall be transferred In full to Buyer at dosing.All funds shall be handled through 375 escrow. Buyer and Seller are encouraged to attach the OREF 070 Investment Property Addendum to address additional items related to 376 the buyer accepting the tenant(s)at closing. 377 31. SELLER POSSESSION BEFOREJAFTER CLOSING: In the event Buyer and Seller agree. Seller dl deliver possession before or after 376 Closing,OREF 059(Agreement to Occupy Before Closing)or OREF 054(Agreement to Occupy Atter Closing)will be attached to this Sale 379 Agreement. DEFINITIONS/INSTRUCTIONS 380 32 DEFINmONSANSTRUCTIONS: 301 (1)All references In this Sale Agreement to Agent and"Firm"shall refer to Buyers and sellers real estate agents icensed In the Slate of Oregon 382 and the respective real estate companies with which they are affiliated, 383 (2)Time is of the essence of this Agreement Buyerinfals 1 7 Date 11 /72 12021 *7/g' /_Date // _ r% This form has been licensed for use solely by Jerry Jones pursuant to a Forms license Ag ; ` with Oregon Wal Estate Forms,LLC. LINES WITH THIS SYMBOL«-REQUIRE A SIGNATURE OF BUYER AND/OR SELLER AND DATE Copyright Oregon Real Forms,LLC 2021 www.orefonllne corp No portion may be reproduced without express permission of Oregon Real Estate Forma,LLC OREF 0011 Page 8 of 11 Produced with Lens WSI TnreactIons(atone Edition)717 N Harwood St.Sulo 2200.Dallas,T% 75201 who lxaHrom ens F.lreun Doc ID:4b394c1ec8a681Bee4e30b59d241 c5D72ada5dOb