29 Name:

30 Address:

31 Name:

32 Address:

33 Name:

34 Address:

Amount: S

Amount: S

Amount: S

EARNEST MONEY DISBURSEMENT AND MUTUAL RELEASE OF PURCHASE AND SALE AGREEMENT

1 Buyer:

2 Seller:

3 Property:

4 Earnest Money Amount:

5 Holder of Earnest Money:

6 Located at:

7 Buyer(s) shall release Seller(s) from all terms of a certain Purchase and Sale Agreement, with a Binding Agreement Date of 8 . ("Agreement"), and said Seller(s) agree to release Buyer(s) from all terms of the 9 Agreement. Further, both Seller(s) and Buyer(s) do hereby agree to the cancellation and termination of said Agreement and

10 that in consideration of mutual promises and conditions herein contained, the receipt and sufficiency of which is hereby 11 acknowledged, Buyer(s), Seller(s) and Broker(s) (including all Licensees connected herewith) do hereby jointly and severally 12 release one another from all claims of every kind and character arising from or connected with the foregoing A greement on 13 the above Property. If applicable, Buyer(s) have provided Seller(s) with any requested documentation which supports 14 Buyer's right to terminate pursuant to any specific Buyer's contingency contained within the Agreement. This Release shall 15 be binding upon and shall be effective for the benefit of any successors, heirs, andlor assi g nees of all parties.

16 EARNEST MONEY IS BEING DISBURSED AS FOLLOWS ("Check any dial apply"):

17 ❑ 1. Forfeited by Buyer(s) and paid to SclIcr(s) as defined in the Purchase and 18 Sale Agreement at the following address:

19 ❑ 2. Returned to Buyer(s) for the following reason(s):

20 ❑ a. unable to obtain financing as per Purchase and Sale Agreement — Lender's loan denial letter attached.

21 ❑ b. did not remove contingency upon notice of second acceptable Purchase and Sale Agreement pursuant to the 22 Seller's Ri ght to Continue to Market Property Addendum.

23 ❑ c. Seller unable to provide good title.

24 ❑ d. Purchase and Sale Agreement contingency pertaining to was not satisfied.

25 ❑ e. inspection contingencies.

26 ❑ f. other:

27 At the following address:

28 ❑ 3. Split between the parties in the following manner:

This form is copyrighted and may only be used in real estate transactions in which is involved as a TAR authorized user. Unauthorized use of the form may result in legal sanctions being brought against the user and should be reported to the Tenne ssee Association of Realtors' at (6151 321-1477.

g Copyrihtair5 © Tennessee Association of Realtors') TENNESSEE Version 04/01/2015 ASSOCIATION OF REALTORS' RF 481 — Earnest Money Disbursement and Mutual Release of Purchase and Sale AgreemepPage 1 of 2

a. airor

35 Name:

36 Address:

37 n 4. Other:

38

Amount: S

39 LEGAL DOCUMENTS: This is an important legal document creating valuable rights and obligations. If you have questions 40 about it, you should review it with your attorney. Neither the Broker nor any Agcnl or Facilitator is authorized or qualified to 41 give you any advice about the advisability or legal effect of its provisions. By signing this document. you are certifying that 42 you have read and accept these terms and acknowledge receipt of a copy of this Release.

43 This Release shall become binding when signed by all parties.

44

45 46

47 48

49 50 51

The party(ies) below have signed and acknowledge receipt of a copy.

BUYER BUYER

at o'clock :7 am/ ❑ pin at o'clock o am/ ❑ pm Date Date

at o'clock o am/ n pm

Managing Broker — Selling Firm Date

52

The party(ies) below have signed and acknowledge receipt of a copy.

53 54

SELLER SELLER

55 at o'clock o am/ o pm at o'clock o am/ o pm

56

Date Date

57 at o'clock o am/ n pm

58

Managing Broker — Listing Firm Date

59 DISBURSEMENT AUTHORIZED BY HOLDER: 60 I folder Signature

61 DATE: at o'clock ❑ am / o pm

For Information Purposes Only:

Listing Company Selling Company

Independent Licensee Independent Licensee

Licensee Email Licensee Email

MOTE: This form is provided hy 111R to as member sfin . their use in real estate transactions mid is to he used as is. By downloading and/or using this form. you agree and covenant not to alter, amenth or edit .cult jinni or its contents except as where provided in the Hank fields, and avec and acknowledge that oar such alteration, amendment or edit of said 'Orin is done at purr own risk. Use of the TAR logo in conjunction 1,iith ant fimrin other than standanlized forms created be TAR is strictly prohibited. This fitrin i.e subject to periodic revision and it is the responsibilit y of the member to use the most recent available foron.

This form is copyrighted and may only be used in real estate transactions in which is involved as a TAR authorized user. Unauthorized use of the form may result in legal sanctions being brought against the user and should be reported to the Tennessee Association of Realtors'" at (615) 321-1477.

Copyright 2015 © Tennessee Association of Realtors° TENNESSEE Version 01/01/2015 AssociAriorq OF MALTORS' RF 481 — Earnest Money Disbursement and Mutual Release of Purchase and Sale Agreement, Page 2 of 2

34

The party(ies) below have signed and acknowledge receipt of a copy.

35 36

SELLER

SELLER

at o'clock o am/ o pm at o'clock o am/ n pm 37 38

Date Date

ADDENDUM TO THE PURCHASE AN IIi SALE AGREEMENT

1 Property Address: 2 Buyer: 3 Seller:

4 This ADDENDUM (hereinafter "Addendum"), between the undersigned Seller and Buyer is entered into and is effective as 5 of the Binding Agreement Date provided in the Purchase and Sale Agreement for the purpose of changing, deleting. 6 supplementing or adding terms to said Purchase and Sale Agreement. In consideration of mutual covenants herein and other 7 good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the parties agree as follows: 8 9

10 11 12 13 14 15 16 17 18 19 20 21 22 23

24 This Addendum is made a part of the Purchase and Sale Agreement as if quoted therein verbatim. Should the terms of this 25 Addendum conflict with the terms of the Purchase and Sale Agreement or other documents executed prior to or simultaneous 26 to the execution of this Addendum, the terms of this Addendum shall control, and the conflicting terms are hereby considered 27 deleted and expressly waived by both Seller and Buyer. In all other respects, the Purchase and Sale Agreement shall remain 28 in full force and effect.

29

The party(ies) below have signed and acknowledge receipt of a copy.

30 31

BUYER BUYER

32 at o'clock o am/ D pm at o'clock (7) am/ D pm

33

Date Date

NOTE: This form is provided hr TAR to its members for their use in real estate transactions and is to he used as is. Pt downloading rand/or using this form. you agree and COVCM1111 110110 alter. amend. or oh( said fain, or its contents except as r. here provided in the blank fields, and agree and acknowledge that any SW:11 (11621'(16011, (1111e1111111011 (11' edit 01 Said /Onn is done at pmr own risk. Use of the TAR logo in confunctIon wfih any form other than standarthzed fbrins created hr TAR is strictly prohibited. This Prm is subject to periodic recision (11111 of the member to use the most recent available „liwnt.

This form is copyrighted and may only be used in real estate transactions in which is involved as a TAR authorized user. Unauthonzed use of the form may result in legal sanctions being brought against the user and should be reported to the Tenne ssee Association of Realtors' at (615) 321-1477.

12 TENNESSEE Co py .olrt AZT Tennessee Association of Realtors° Version Of 101/2015

ASSOCIATION • • "— OF REALTORS' RF 621 — Addendum to Purchase and Sale Agreement , Page 1 of 1

29

The party(ies) below have signed and acknowledge receipt of a copy.

32 at o'clock o am/ o pm at o'clock o am/ o pm

33

Date Date

BUYER BUYER 30 31

The party(ies) below have signed and acknowledge receipt of a copy. 34

35 36

SELLER

SELLER

at o'clock o am/ o pm at o'clock o am/ o pm 37 38

Date

Date

AMENDMENT TO PURCHASE AND SALE AGREEMENT AMENDMENT " "

1 Buyer: 2 Seller: 3 Property:

4 In consideration of the mutual covenants herein and other good and valuable consideration, the receipt and sufficiency of 5 which is hereby acknowled ged. the parties agree to amend that certain Purchase and Sale Agreement with a Binding 6 Agreement Date of and any incorporated addenda, exhibits or prior amendments (collectively 7 referred to herein as "Agreement") for the purchase and sale of real property specified above as follows: 8 9

10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 This Amendment shall become binding when signed by all parties and shall be incorporated into the Agreement and all other 28 terms and conditions of the Purchase and Sale A g reement shall remain in Bill force and effect.

,VOTE: This fare: is provided by TAR to its members for their use in real estate transactions and is to he used as is. Br downloading audio' using this form. rots agree and covenant not to alter, amend. or edit .said form or its contents except as where prodded in the blank fields. trod agree and acknowledge that any such alteration. amendment or edit of said Ittrin is done at your own risk Use of the TAR logo in conjunrtion with an y lorm other than standardized ,ktrins created hy TAR is strictl y prohibited. This jinn: is subject to periodic revision and it is the responsibilit y of the member to use the mast recent mailable farm.

This form is copyrighted and may only be used in real estate transactions in which is involved as a TAR authorized user_ Unauthorized use of the form may result it legal sanctions being brought against the user and should be reported to the Tennessee Association of Realtors at (615) 321-1477

01 TENNESSEE Con y 'oche f g e © Tennessee Association of Realtors° Version &/ /0112015

Assooxrio 0

Copyright OF REALTORS' RF 653 — Amendment to Purchase and Sale Agreement , Page 1 of 1

A,,7

CONTRACT LANGUAGE FOR SPECIAL STIPULATIONS (Language to be inserted in Special Stipulations,

Addendum, or Amendment)

1 These special stipulation paragraphs are provided as examples of situations that may occur during real estate transactions.

2 They are listed here for your use to be inserted into the Agreement by using the Special Stipulations, an Addendum or an

3 Amendment

4 1. ACCESS TO PUBLIC ROAD.

5 The Seller warrants that the subject property has the right of ingress and egress to and from road

6 without limitation by way of the existing driveway located at:

7 2. AGENT AS PRINCIPAL OR RELATIVE OF PRINCIPAL.

8 A. All parties acknowledge that is a duly licensed Real Estate Agent under the laws of

9 Tennessee and is acting as the

10 B. All parties acknowledge that is a duly licensed Real Estate Agent under the laws of Tennessee,

(Buyer or Seller)

11 and is the of the and is acting as the agent of the

(Relationship) (Buyer or Seller)

12 (Buyer or Seller)

13 C. All parties acknowledge that the Buyer/Agent intends to sell the Property at a future date for a profit.

14 3. AMENITY PACKAGE RELEASE. 15 In the event that the Property is served by a recreational amenity package either now existing or to be constructed, Buyer

16 acknowledges and represents that he has investigated the ownership and availability of such amenity package, and

17 hereby releases Broker and affiliated licensees from any responsibility or liability in regard thereto.

18 4. ASSESSMENTS OR LIENS. 19 The parties hereto are aware that there is a assessment or lien against the within described Properly

20 in the amount of S . Said assessment or lien shall be paid by at the closing of this

21 sale.

22 5. PROPERTY EXCHANGE. 23 This Agreement and the Separate Agreement which is attached hereto. are intended to be Exchange Properties pursuant

24 to Internal Revenue Code 1031. The parties agree that they will perform all necessary acts and that they will execute

25 all necessary documents to effectuate an Exchange of Properties under said Section. The parties anticipate that the

26 closings upon the properties which are the subject of this Agreement and the attached A greement will be simultaneous.

27 6. NON-ASSIGNABILITY. 28 This Purchase and Sale Agreement shall not be assignable by the Buyer(s) without prior written consent of Seller(s).

29 7. CONTINGENCIES. 30 A. Appraisal. 31 This Agreement is contingent upon having Property appraised no later than and to

32 pay for the appraisal. In the event the appraisal is not timely made, this contingency shall be deemed waived. The

33 Property must appraise for at least the amount set forth in the "Purchase Price" paragraph of the Agreement or the

34 Buyer may. at his option, on or befbre , terminate this Agreement with written notice

35 to Seller and all Earnest Money shall be refunded to Buyer in full, in which event all parties agree to execute all

36 applicable documentation. In the event Buyer Nis to exercise this option. it shall be deemed waived.

37 B. Approval of Others.This Agreement is contingent upon viewing and approving the above-

38 described Property and, if acceptable, Buyer notifying the Seller or Broker on or before

39 Should the Property be unacceptable to , Buyer shall provide

40 written notice to Seller that Buyer is exercising his right to terminate this Agreement and all Earnest Money will be This form is copyrighted and may only be used in real estate transactions in which is involved as a TAR authorized user.

Unauthorized use of the form may result in legal sanctions being brought against the user and should be reported to the Tennessee Association of Realtors" at (615) 321-1477.

Copyright 2014 © Tennessee Association of Reartore Version 01101/2015 TENNESSEE AssociAriost or REAcroits' RF 707 — Contract Language for Special Stipulations, Page 1 of 5

41 refunded to Buyer in full, in which event all parties agree to execute all applicable documentation. In the event this

42 contingency is not removed by the date set above, this contingency shall be deemed waived and the Agreement shall

43 remain in full force and effect.

44 C. Bankruptcy Pending.

45 The parties herein acknowledge that they have been informed of bankruptcy proceedings in the United States

46 Bankruptcy Court, and that this Agreement is contingent upon a final judgment and decree authorizing the sale of

47 the Property. In the event that a final judgment sale authorization is not granted by , the

48 Buyer may terminate this Agreement with written notice to Seller with Earnest Money returned in full to Buyer, in

49 which event all parties agree to execute all applicable documentation.

50 D. Court Permission to Sell.

51 Seller's obligations under this Agreement are contingent upon approval or order of the appropriate court having

52 jurisdiction over the sale of the Property on or before . Seller shall proceed diligently

53 and in good faith, using all reasonable best efforts, at Seller's expense, to obtain said approval. In the event said

54 approval or order is not received by said date, the Agreement may be terminated by Buyer upon written notice to

55 Seller with Earnest Money returned in full to Buyer. in which event all parties agree to execute all applicable

56 documentation.

57 E. Divorce. 58 The parties herein acknowledge that they have been informed that the Sellers are involved in a divorce proceeding

59 and that this sale is contingent upon Sellers obtaining a final jud g ment and decree authorizing the sale of the

60 Property. In the event that a final judgment sale authorization is not granted by , either party may

61 terminate this Agreement upon written notice to other with Earnest Money returned in full to Buyer, in which event

62 all parties agree to execute all applicable documentation.

63 F. Not Contingent on Sale of Property. 64 Buyer warrants that this Agreement is not contingent upon the sale of current residence or any other property and

65 further states that failure to sell any of said properties will not be grounds for refund of Earnest Money in the event

66 of loan denial.

67 G. Is Contingent on Sale of Property. 68 This Agreement is contingent upon the sale and closing of the property located at

69 ("Buyer's Property") on or before the Closing Date of this

70 Agreement. If Buyer's Property does not close on or before the Closin g Date of this Agreement, Buyer may

71 terminate this Agreement with written notice to Seller with refund of Earnest Money to Buyer. Furthermore, failure

72 to sell and close on any of said properties shall be grounds for refund of Earnest Money to Buyer in the event of loan

73 denial. Upon termination of Agreement for the aforesaid failure to close, all Parties agree to execute all applicable

74 documentation.

75 H. Trade-in of Buyer's Property

76 This Agreement is contingent upon the Buyer and Seller reaching a mutually satisfactory trade-in agreement on the

77 Buyer's current Property located at , on or 78 before . the event a mutually satisfactory agreement is not reached within the time stated

79 above, this Agreement may be terminated by either party upon written notice to the other with Earnest Money

80 returned in full to Buyer, in which event all parties agree to execute all applicable documentation.

81 1. Buyer Assumption of Loan.

82 1. Conventional Loan.

83 This sale is contingent upon Buyer assumin g Seller's existing loan and Seller's existing indebtedness for

84 repayment of the loan and Lender's agreement to release Seller from liability thereon on Seller's property

85 as described herein. Buyer agrees to immediately apply and submit necessary information to Lender. If

86 Buyer has not received such approval and agreement from the Lender within days following the

87 Binding Agreement Date, or should Buyer fail to qualify, Seller shall have the option of waiving this

88 stipulation or to terminate this Agreement upon written notice to Buyer and all Earnest Money shall be

89 refunded in full to Buyer, in which event all parties agree to execute all applicable documentation.

90 2. FHA Loan. 91 This Agreement is contingent upon Buyer's ability to assume (a) the Seller's existing FHA loan, (b) the

92 Seller's liability to the Federal Housing Administration (FHA) for the repayment of the FHA loan, and (c)

93 FHA's agreement to release Seller from liability thereon on Seller's property as described herein. Buyer

This form is copyrighted and may only be used in real estate transactions in which is involved as a TAR authorized user Unauthorized use of the form may result in legal sanctions being brought against the user and should be reported to the Tennessee Association of Realtors' at (615) 321-1477.

03 TENNESSEE N Copyright 2014 © Tennessee Association of Realtors° Version 01/0112015

ASSOCIATIO OF REALTORS' RF 707 — Contract Language for Special Stipulations, Page 2 of 5

94 agrees to apply immediately to FHA and submit necessary information. If Buyer has not received such

95 approval and agreement from FHA within days following the Binding Agreement Date, or should

96 Buyer fail to qualify to assume the Seller's liability. Seller has the option to waive this contingency or to

97 terminate this Agreement upon written notice to Buyer and Earnest Money shall be refunded in full to

98 Buyer, in which event all parties agree to execute all applicable documentation.

99 3. VA Loan.

100 This Agreement is contingent upon the Buyer's ability to assume the Seller's existing VA loan and to

101 assume the Seller's potential indemnity liability to the U.S. Government for the repayment of the loan and

102 the VA's agreement to release Seller from liability thereon. Buyer agrees to apply immediately to the VA

103 and submit any necessary documents and information required by VA. If the Buyer has not received such

104 approval and a greement from the VA within business days following the Binding Agreement Date,

105 or should the Buyer fail to qualify to assume the Seller's liability, Seller has the option to waive this

106 contingency or to terminate this Agreement upon written notice to Buyer and Earnest Money shall be

107 refunded in full to Buyer, in which event all parties agree to execute all applicable documentation.

108 J. Replacement House.

109 This contract is expressly conditional upon Sellers enterin g into a written contract to buy a replacement house on or

110 before

111 K. Zoning. 112 1. Rezoning Contingency. 113 Buyer understands and agrees that Property is zoned and that the

114 improvements thereon may not meet zoning requirements. The Buyer's obligation hereunder is

115 conditioned upon the Property being rezoned to by the appropriate

116 (County/City) authorities by The

117 (Buyer/Seller) shall be responsible for pursuing such rezoning and

118 paying all affiliated costs. In the event that said rezoning is not obtained by said date, then Buyer may

119 terminate this Agreement upon written notice to Seller and all Earnest Money shall be refunded to the

120 Buyer. All rezoning applications shall be submitted to Seller for Seller's approval prior to filing, which

121 approval shall not be unreasonably withheld. All parties agree to cooperate, to sign the necessary

122 documentation and to support the rezoning application.

123 2. Homes converted to multifamily use where zoning for multifamily use may be questioned.

124 This Agreement is contingent upon Seller providing a letter from the city or county zoning authority stating

125 that the Property is presently zoned for multifamily use. Seller shall have two (2) weeks followin g the

126 Binding Agreement Date to present said letter to Buyer or Broker(s). Should the Seller not present the

127 letter within the above-stated time period, Buyer must, within forty-eight (48) hours past the time period,

128 terminate this Agreement through written notice to Seller or this contingency shall be removed as a

129 condition of this Agreement. If Buyer elects to declare this Agreement terminated, said declaration shall he

130 on an Earnest Money Disbursement and Mutual Release form or equivalent written notice with all Earnest

131 Money being promptly refunded to Buyer. All parties agree to sign promptly all documentation.

132 L. Radon. 133 This offer is contingent upon the radon testing of (Property

134 Address). Property must have a test result of 4pCi/L or lower. If the Radon test shows a higher reading than

135 4pCi/L, (Buyer/Seller) shall have a mitigation system installed at a cost

136 not to exceed $

137 NI. Additional Buyer Contingencies (Can be used in conjunction with paragraph 10 in PSA).

138 Buyer at Buyer's cost shall have the right to review and accept the following:

139 a. A land survey and/or mort ga ge survey of the Property.

140 b. A determination that the Property is not located in an unacceptable flood hazard area and/or mortgage

141 lender does not require flood insurance.

142 e. All zoning regulations, restrictions, declarations, covenants, easements and other title matters of record.

143 d. Governmental approval of any existing waste disposal septic system and permit compliance, and/or

144 determination that the system is functioning properly.

145 e. Governmental approval of any existing non-public water system and permit compliance, and/or

146 determination that the system is functioning properly and the quality of water is acceptable.

147 f. A determination that the property is insurable with a company and at a rate acceptable to Buyer and that

This form is copyrighted and may only be used in real estate transactions in which is involved as a TAR authorized user. Unauthorized use of the form may result in legal sanctions being brought against the user and should be reported to the Tennessee Association of Realtors' at (615) 321-1477.

TENNESSEE Copyright 2014 @ Tennessee Association of Realtors° Version 01/01/2015 AssociArioN OF REALTORS' RF 707 — Contract Language for Special Stipulations, Page 3 of 5

7,T07

148 there are no exclusions to insurability which the Buyer finds objectionable.

149 If any of the above matters are unacceptable to Buyer. at Buyer's sole discretion Buyer may elect to terminate the 150 Purchase and Sale Agreement on or before the expiration of the above referenced Inspection Period by written 151 notice to Seller and shall be entitled to a refund of all Earnest Money. In the event that Buyer exercises Buyer's 152 right to terminate under one of these contingencies, Buyer shall, at Seller's request, furnish Seller or Seller's

153 representative with documents supporting Buyer's right to terminate.

154 8. EARNEST MONEY. 155 A. Additional Earnest Money Held by Broker/Holder. 156 Buyer agrees to pay Holder additional Earnest Money in the principal amount of S on or before

157 , making a total Earnest Money deposit of S . In the event Buyer fails to pay

158 additional Earnest Money by said date, then, at the option of Seller (this option to be exercised within seven days of

159 said date), Seller may terminate this Agreement by written notification to Buyer and Broker at which time Buyer

160 shall be considered in default.

161 B. Held until Specific Time. 162 All parties to this Agreement acknowledge that the Earnest Money will not be deposited until

163 9. RECEIPT ACKNOWLEDGEMENT. 164 Receipt of this notice is hereby acknowledged this day of , at o'clock m.

165 By:

166 10. RENT PRORATION. 167 All prepaid rents on said Property shall be prorated at the closing of the sale. The Seller represents that the monthly

168 rentals on said Property of S will be current at the time of the closing, and that there will be no 169 expenses chargeable to the Seller except the taxes on said Property. The Seller shall pay to the Buyer all security and

170 damage deposits, if any, which have been paid to the Seller by any of the tenants. Buyer shall enter into an agreement to

171 hold the Seller harmless against such transfer of security or damage deposits. At the closing of the sale, the Seller shall 172 execute an affidavit which will verify the number of leases and tenancies then outstanding on the Property, the prepaid

173 rent as to each. and the amount of security deposits as to each.

174 lt. SUPERSEDE PREVIOUS CONTRACT. 175 Upon signatures by all parties, this Agreement supersedes and makes null and void previous agreement accepted

176 , by and between the parties hereto.

177 12. THIRD PARTY AGREEMENT. 178 Seller herby reserves the right to assign this Agreement to Ord Party) for closing and

179 payment of commission in accordance with the terms hereof.

180 13. SELLER EXPENSES. 181 A. Seller to Pay Closing Costs and Prepaids

182 Seller to pay % of the Purchase Price or pay $ towards Buyer's closing costs and prepaids as

183 identified in paragraph 2.8.2.

184 14. CONDOMINIUM LEGAL DESCRIPTION. 185 Within five (5) days after the Binding Agreement Date, the Seller will complete the Condominium Legal Description or

186 Exhibit and provide it to the Buyer. The Condominium Legal Description or Exhibit will become a part of

187 the Agreement only when countersigned by the Buyer. If the Buyer does not accept the Condominium Legal Description

188 or Exhibit within ten (10) days after receipt thereof, then Buyer may terminate this Agreement upon written notice

189 to Seller and all Earnest Money shall be refunded to the Buyer.

190 15. SELLER RESERVES THE RIGHT TO SELL — EXCLUSIVE AGENCY AGREEMENT. 191 The Seller hereby reserves the right to sell Property and hereby converts this Agreement into an Exclusive Agency 192 Listing Agreement. If a Buyer is procured for the Property through the sole efforts of Seller acting alone. then Seller is

193 not required to pay Broker the compensation contained herein. However, in the event that the Buyer is obtained through

194 any efforts of Broker (included but not limited to any Broker advertising including but not limited to any internet

195 advertising, listing in the MLS, or traffic created by any signage put in place by Broker), then the aforementioned

196 compensation is due to Broker at closing.

197 16. FOREIGN CORPORATION THAT HAS MADE AN ELECTION UNDER IRC § 897(i). 198 Seller is a foreign corporation which has made, or will make, an election pursuant to Internal Revenue Code 897(i) to

199 be treated as a domestic corporation for the purposes of taxation and FIRPTA. Seller is hereby notified to consult with This form is copyrighted and may only be used in real estate transactions in which is involved as a TAR authorized user

Unauthorized use of the form may result in legal sanctions being brought against the user and should be reported to the Tennessee Association of Realtors' 01(615) 321.1477. TENNESSEE Copyright 2014 © Tennessee Association of Realtors Version 0110112015 ASSOCIATION OF REALTORS' RF 707 — Contract Language for Special Stipulations, Page 4 of 5

200 his closing attorney and/or tax planner to discuss the steps required for making such election. Seller further agrees to 201 submit all necessary documentation and/or affidavits to the Buyer's closing agent at or before closin g to verify such 202 election or to comply with all laws and regulations concerning FIRPTA withholding.

203 17. RESIDENT ALIEN STATUS. 204 Seller is not a U.S. citizen and may be considered a resident alien. Seller is hereby notified to consult with his closing 205 attorney and/or tax professional immediately to determine whether he is subject to FIRPTA withholdings and what 206 documentation may be necessary at or before closing. Seller further agrees to submit all the necessary documentation 207 and/or withholdings at or before closing concerning FIRPTA withholdings to the buyer's closing agent. Seller agrees to 208 sign the appropriate affidavits certifying that he is not subject to FIRPTA withholdings and to provide all necessary 209 documentation requested at or before closing or to comply with all laws and regulations concerning FIRPTA 210 withholding.

211 18. DISCRIMINATION. 212 Firm (or Broker) shall not deny services to, nor discriminate against, any person on the basis of race, color, religion, sex, 213 handicap, familial status, national origin, sexual orientation, or gender identity and will not honor any request to do so.

214 19. ASSOCIATION FEES. 215 Seller Expenses. Seller shall pay all existin g loans and/or liens affecting the Property, including all penalties, release 216 preparation costs, and applicable recording costs; any accrued and/or outstanding association dues or fees; fee (if any) to 217 obtain lien payoff/estoppel letters from any and all associations, mortgage holders or other liens affecting the Property: 218 Seller's closing fee, document preparation fee and/or attorney's fees; fee preparation of deed; and notary fee on deed. 219 Seller additionally agrees to permit any withholdings and/or to pay any additional sum due as is required under the 220 Foreign Investment Tax Act. Failure to do so will constitute a default by Seller. 221 Association Fees. Buyer shall be responsible for all homeowner or condominium association transfer fees, related 222 administration fees, capital expenditures/contributions incurred due to the transfer of the Property and/or like expenses 223 which are required by the association, property management company and/or the bylaws. declarations or covenants for 224 the Property (unless otherwise specifically addressed herein and/or unless specifically chargeable to Seller under 225 applicable bylaws and/or neighborhood covenants).

226 20. POST JUDGMENT INTEREST. 227 Judgment entered by any court based upon this Agreement shall bear interest at a rate of l0% or the highest rate of 228 interest provided by law, whichever is greater.

229 21. COMMITMENT LETTER. 230 Loan Obligations: The Buyer agrees and/or certifies as follows:

231 Within twenty (20) days after Binding Agreement Date, Buyer shall provide to Seller or Seller's representative a 232 conditional commitment letter from Buyer's Lender providin g reasonable assurance of Buyer's ability to obtain the 233 financing contemplated by this Agreement. Said letter shall be in a form and substance acceptable to Seller at Seller's 234 reasonable discretion; however, a letter from Lender verifying the following shall be deemed acceptable: 235 a. An appraisal has been ordered; 236 b. Buyer has available funds to close; 237 c. Buyer's credit is acceptable to Lender; and 238 d. Buyer has employment or income necessary to obtain said loan.

239 Seller shall have the right to terminate this Agreement with written notice to Buyer if said letter is not timely received, in 240 which case Earnest Money shall be returned to Buyer.

241 22. REDUCTION IN PRICE IN LIEU OF REPAIRS. 242 In the event that a buyer wishes to waive repairs after he has submitted it list of items to he repaired or replaced, he may 243 do so. This could include a reduction of the purchase price, or an agreement for the seller to pay more pre-paids and/or 244 closing costs. You would accomplish this through the use of an Amendment (F6). In that form, you would include: 245 1. Seller is not required to make any repairs to the Property. 246 2. Seller is to pay in closing costs or pre-paids. 247 3. Sales price to be S 248 (or those items to which the parties agree.)

NOTE: This union is provided hr 7:11{ to II'S »leathers Or their use in real estate transactions and is to be used as is. Br downlmnling audiar using this Joan, you agree and covenant not to alter. amend, or edit .said fore: or its contents except as where provided in the blank fields. mid agree alai acknowledge that am such alteration. amendment or edit of said form is done at your own risk. tine 0. / the TA k R logo in cot:jun(1m with olonerv loner other than siandardi:ed farms created by TAR is strictly prohibited. This farm is subject to periodic revisnm and it is the resmnsthilitv of the member to use the mast recent available fimn.

This form is copyrighted and may only be used in real estate transactions in which is involved as a TAR authorized user_ Unauthorized use of the form may result in legal sanctions being brought against the user and should be reported to the Tennessee Association of Realtors' at (615)321-1477.

TENNESSEE Copyright 2014 0 Tennessee Association of Realtors° Version 01/01/2015 ASSOCIATION OF REALTORS' RF 707 — Contract Language for Special Stipulations, Page 5 of 5 :,167