FHA AMENDATORY CLAUSE Rider 8 REAL ESTATE CERTIFICATION by a2302339

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									                                                      Rider 8
                                             FHA AMENDATORY CLAUSE &
                                             REAL ESTATE CERTIFICATION

THIS RIDER IS MADE A PART OF AND INCORPORATED INTO THAT CERTAIN REAL ESTATE
SALE CONTRACT DATED                      ,           (CONTRACT), FOR THE SALE OF
THE PROPERTY COMMONLY KNOWN AS
                                          , ILLINOIS (PROPERTY), ENTERED INTO BY
                                                                     (SELLER) AND
                                                                    (PURCHASER).

It is expressly agreed that, notwithstanding any other provisions of the Contract, the Purchaser shall
not be obligated to complete the purchase of the Property or to incur any penalty by forfeiture of
earnest money deposits or otherwise unless the Seller has delivered to the Purchaser a written
statement issued by the Federal Housing Commissioner or a Direct Endorsement Lender setting forth
the appraised value of the Property (excluding closing costs) of not less than the purchase price which
statement the Seller hereby agrees to deliver to the Purchaser promptly after such appraised value
statement is made available to the Seller. The Purchaser shall, however, have the privilege and option
of proceeding with the consummation of the Contract without regard to the amount of the appraised
valuation. The appraised valuation is arrived at to determine the maximum mortgage the Department of
Housing and Urban Development will insure. HUD does not warrant the value or the condition of the
Property. The Purchaser should satisfy himself/herself that the price and condition of the Property are
acceptable.

Furthermore, the Seller, the Purchaser, the brokers and/or parties involved in this transaction certify, to
the best of their knowledge and belief, that the terms of the Contract are true and that there are no
other parties or undisclosed arrangements in connection with this transaction.

Any certifications, including, but not limited to heating, plumbing, electrical, roofing and termite, when
required by FHA or other governmental authority shall be paid as follows:


Seller agrees to make any repairs required by FHA or other governmental authority prior to closing,
provided said repairs do not exceed $                          . Purchaser and/or Seller, however, shall
have the option of paying for the repairs in excess of the above stated amount. In the event the cost of
completing the repairs, exceeds the above stated amount, then either party may at his/her option
cancel the Contract, in which case all earnest money shall be refunded to Purchaser, and there shall
be no further liability on the part of either party.



                           (Purchaser)                                                                      (Seller)



                           (Purchaser)                                                                      (Seller)



           (Real Estate Broker-Selling Agent)                                           (Real Estate Broker-Selling Agent)


REV 03/02


Phone:                          Fax:
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