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Unformatted text preview: ayment and closing costs. (If checked,
H. LOAN TERMS:
(1) LOAN APPLICATIONS: Within 7 (or
) Days After Acceptance, Buyer shall Deliver to Seller a letter from lender or loan
broker stating that, based on a review of Buyer's written application and credit report, Buyer is prequalified or preapproved for any NEW loan
specified in 3C above. (If checked,
(2) LOAN CONTINGENCY: Buyer shall act diligently and in good faith to obtain the designated loan(s). Obtaining the loan(s) specified above
is a contingency of this Agreement unless otherwise agreed in writing. Buyer's contractual obligations to obtain and provide deposit, balance
of down payment and closing costs are not contingencies of this Agreement.
(3) LOAN CONTINGENCY REMOVAL:
(i) Within 17 (or
) Days After Acceptance, Buyer shall, as specified in paragraph 14, in writing remove the loan contingency
or cancel this Agreement;
OR (ii) (if checked)
the loan contingency shall remain in effect until the des...
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This note was uploaded on 06/25/2013 for the course BUS 320 taught by Professor Staff during the Spring '11 term at S.F. State.
- Spring '11