PURCHASE AND SALE CONTRACT FOR

PURCHASE AND SALE CONTRACT FOR REAL ESTATE OWNED (REO) WHEN SIGNED, THIS DOCUMENT CREATES A BINDING CONTRACT. PURCHASERS MAY WISH TO CONSULT THEIR OWN ATTORNEY BEFORE SIGNING. Date: Seller: ADDRESS: Purchaser: _________________________________________ M&T Bank 1100 Wehrle Drive, Williamsville NY 14221 _________________________________________________________ Purchaser's Current Address: ______________________________________________________________________ Offer to Purchase Purchaser offers to purchase the Property from Seller on the following terms: Purchase Price Earnest Money Deposit A (non – refundable due at offer acceptance) $____________________ $____________________ Earnest Money Deposit B (refundable until all contingencies/inspections satisfied or expired) $____________________ Seller Concessions / Assistance Upon Delivery of Deed (in cash or certified funds) Mortgage Amount at Closing $____________________ $____________________ $____________________ 1. PROPERTY DESCRIPTION Address (including zip code): 14615 Flower Hill Dr. , Centreville, VA 20120 (“Property”) Tax ID No.: Description of Property: 54-1-17-5-13 SINGLE/ DOUBLE/ Family Dwelling With ATTACHED/ DETACHED/ NO Garage Approximate Lot Size: 1,742 sq ft. Purchaser’s Initial(s) 1 of 16 Revised: 7/3/09 2. PRICE: AMOUNT AND HOW IT WILL BE PAID The Purchase Price is $____________________. Purchaser shall receive credit at closing for any deposit made by Purchaser as specified in paragraph 3 of this contract. The balance of the purchase price shall be paid: A. All in cash or certified check at closing. Purchaser agrees to pay for any cost that may be involved in procuring closing funds. Regardless of local custom and practice, attorney trust or escrow account checks are NOT acceptable, and will be rejected. New Mortgage Loan. This offer is subject to the Purchaser obtaining a conventional / FHA / other first mortgage loan commitment in the amount of $____________________ for a term of _____________ years. Purchaser shall apply, within 3 days after final approval of this contract, for this loan and Purchaser shall have until ____________________ (ten (10) days from contract execution date if left blank) in order to obtain such a written mortgage commitment. If Purchaser cannot obtain a written mortgage commitment within this time, either Purchaser or Seller may cancel this contract in writing without any further liability to the other, and the Seller shall retain Earnest Money Deposit A. In the event that Seller agrees to refund Earnest Money Deposit B, Purchaser must provide a Decline Notice from a licensed mortgage lender or bank. Seller reserves the right to actively market the property until the financing contingency is satisfied and may cancel this contract and accept superior offers as determined by the Seller. Purchaser will have the opportunity to match or beat any offer the Seller receives within 24 – hours of notification of new offer. If Seller accepts another offer, all Earnest Money Deposits will be refunded. All proceeds from the mortgage used to pay the Purchase Price must be is cash or certified check. Regardless of local custom and practice, attorney trust account checks are not acceptable and will be rejected. B. 3. EARNEST MONEY DEPOSIT BY PURCHASER The Purchaser hereby submits an Earnest Money Deposits equal to $____________________ in cash, bank or certified check, or money order, payable to ___________________________________________________ and which will be held by either the Seller’s broker or Seller’s Closing Agent in a non-interest bearing account. A personal check may be used for Earnest Money Deposit if a bank statement with the account number on the check is provided as proof of funds. Earnest Money Deposit B referenced on page 1 will become non – refundable when all contingencies and / or inspections have been satisfied or expired. 2 of 16 Revised: 7/3/09 Purchaser’s Initial(s) This Contract also serves as the Release of any Earnest Money Deposit in the event that the Purchaser does not perform under the terms of this contract and the Seller requests Earnest Money from the Closing Agent. No further Release documents need to be executed by the Purchaser for the Release of Earnest Money Deposit(s) to the Seller. 4. SELLER CONCESSIONS / ASSISTANCE Seller concessions / assistance towards closing costs of up to $________________________ will be provided for this transaction. The costs are limited to the following reasonable fees:      Loan Application Fee and Credit Report Loan Origination, Mortgage Broker Fee, Points & Discount Points not to exceed 1% of Sale Price Title Search Lender Title Insurance Policy Lender’s or Buyer’s Attorney        Appraisal Homeowner’s Insurance Premium Up front PMI Premium Escrow Deposit for Taxes Tax Service Wire Transfer Flood Certification Purchaser will provide Seller with a Lender prepared Good Faith Estimate at the time this offer is submitted. The GFE fees are the highest amount Seller will provide at closing. Any concessions / assistance outside of these fees, must be agreed to in writing via the Addendum / Amendment to Purchase and Sale Contract for Real Estate Owned (REO). 5. CLOSING DATE AND PLACE A. The transfer of title to the Property shall take place at the office of Seller's Closing Agent on or before ____________________ or within five (5) days of loan approval by the lender, whichever is earlier. The Seller in its sole and absolute discretion may extend the closing date. TIME IS OF THE ESSENCE with respect to all dates specified in the contract, addendums, riders, or amendments thereto. This means that all deadlines are intended to be strict and absolute. In the event Seller agrees to a Purchaser’s extension of the closing date, a per diem penalty of $100.00 will be charged. If the sale does not close by the end of the extension period, Seller, at its option, may terminate the contract and retain Purchaser’s deposit as damages in addition to pursuing any other legal action against Purchaser. B. C. 6. SURVEY Seller will not provide Purchaser with a survey. 3 of 16 Revised: 7/3/09 Purchaser’s Initial(s) 7. ABSTRACT OF TITLE Except as stated in paragraph 8 (B)(2), Seller shall not provide Purchaser with, nor pay for an abstract of title. 8. INSURABLE TITLE A. Unless otherwise indicated below, Seller shall furnish Purchaser, at Seller’s expense, a search showing clear and insurable title. Seller's Closing Agent will be responsible for providing any Title Policies required by Purchaser or Purchaser's Lender at Purchaser's expense. Seller will provide evidence of insurable title by providing Purchaser(s) with one or more of the following: 1) Copy of preliminary or final title report. 2) Copy of stub search beginning from the time the last owner took title, re-dated through the title transfer to Seller or for the entity that Seller services. B. Under the terms of this paragraph 8 (B), Purchaser is responsible for the cost of any additional title evidence including, but not limited to, preparation or expansion of search, title insurance, and survey. Seller shall not be required to furnish Purchaser with any corporate documentation including, but not limited to, Corporate Minutes authorizing the sale of the premises. The Purchaser shall also be responsible for obtaining and or recording, as applicable, a Franchise Tax Report, a Certificate of Good Standing, a Certified Copy of the Certificate of Incorporation, or any other corporate documentation for the current Seller or any prior corporate owner. Purchaser must notify Seller of any and all title objections at least ten (10) days before closing, or all objections to title shall be waived. If objections are raised, Seller will use good faith effort to cure said objections. If a mortgagee policy is required, Purchaser shall be responsible for payment of the full premium. 9. DEED Seller shall transfer title to Purchaser using a Bargain and Sale, Special Warranty, or Limited Warranty Deed. 4 of 16 Revised: 7/3/09 Purchaser’s Initial(s) 10. QUALITY OF TITLE The deed and other documents delivered by Seller shall be sufficient to convey insurable title in “fee simple” (the term “fee simple is a legal term which describes the most complete interest that can be obtained in real Property) to the Property free and clear of all liens and encumbrances. However, Purchaser agrees to accept title to the Property subject to restrictive covenants of record common to the tract or subdivision of which the Property is a part, provided these restrictions have not been violated and if they have been violated, that the time for anyone to complain of these violations has expired. Purchaser also agrees to accept title to the Property subject to public utility easements and any oil and gas leases as long as those easements or leases do not interfere with any buildings on the Property. 11. RECORDING COST, TRANSFER TAX, CLOSING ADJUSTMENTS If applicable, purchaser shall pay for recording of the Deed; gains tax affidavit, and equalization form. In addition, Purchaser shall pay for any transfer tax due. Current taxes, water charges, pure water charges, sewer charges, garbage collection charges, fuel oil adjustments and the like shall be adjusted pro-rata between Seller and Purchaser as of the date of closing. Purchaser shall be responsible for all lender-related costs. Any assessments shall also be pro-rated unless said assessments are levied after the date of this contract in which case Purchaser shall be responsible for payment of the full assessment. 12. ADJUSTMENTS The following are to be apportioned / pro-rated as of midnight of the day before the day of closing: A. B. C. D. E. Rents as and when collected Taxes, water charges and sewer rents, on the basis of the fiscal period for which assessed Fuel, if any Vault charges, if any Homeowners or condo association and maintenance fees If closing shall occur before a new tax rate is fixed, the apportionment of taxes shall be upon the basis of the old tax rate for the preceding period applied to the latest assessed valuation. If closing shall occur before a bill for water and/or sewer has been rendered, the apportionment of said water and/or sewer bill shall be upon the basis of the most recent water and/or sewer bill for the preceding period. 13. OCCUPANCY / REPAIRS / ALTERATIONS Purchaser shall be entitled to possession at closing. Pre-occupancy is not allowed without written consent of Seller. Purchaser has no right to make any repairs or alterations to the premises prior to closing without written consent of Seller. 5 of 16 Revised: 7/3/09 Purchaser’s Initial(s) 14. RISK OF LOSS The Seller shall assume risk of loss or damage to the Property until transfer of title. If any substantial damage to the Property occurs prior to transfer, either Purchaser or Seller shall have the option of canceling this contract without any further liability to the other and the deposit shall be returned to Purchaser. Seller may, at Seller’s option, repair Property to a point that is materially similar to the Property’s state at the time the contract was executed. If repairs are made, all other conditions of this contract remain in effect. 15. CODE COMPLIANCE Purchaser is responsible for any Federal, State, Country or local statutes, codes or ordinance compliance. MUNICIPAL VIOLATIONS: Purchaser is buying the within premises subject to all violations of any nature and any kind and subject to any liens and/or violations which are a result of, but not limited to, assessments of any kind, unsafe building notices, "super" liens, emergency repairs, environmental control hazards, pest control, sidewalk assessments and/or any state and/or local municipal ordinances. Seller has not made any representation as to violations and/or any of the foregoing liens and/or notices and/or violations issued by the Department of Housing, Building, Fire or any other State or Municipal Department. Purchaser accepts all of the foregoing and is purchasing subject to the foregoing without any abatement in price. Assessments and violations are meant to include but not limited to clean up, demolition, sealing and/or preserving the premises and/or removing hazardous and/or unsafe conditions. 16. CONDITION OF PROPERTY Purchaser is aware that Seller acquired the subject real property through foreclosure and that Seller is selling and Purchaser is purchasing the Property in “AS IS” condition without representation or warranties of any kind either express or implied, by Seller or its agents. A. Purchaser acknowledges for Purchaser, and Purchaser’s heirs, successors and assigns, that the Purchaser has been given a reasonable opportunity to inspect and investigate the Property and all improvement thereon, either independently or through agents of Purchaser’s choosing, and that in purchasing the Property, Purchaser is not relying on any representations of Seller and/or its agents, as to its fitness for any particular use, the condition or safety of: electrical, plumbing, heating, sewage, roof, air conditioning, if any, foundations, soil and geology, lot size or suitability of the Property and/or that the utilities are in working order and/or that the improvements are structurally sound and/or in compliance with any city, county, state and/or federal statutes, codes or ordinances. Purchaser further acknowledges that they are relying solely upon their own inspections of such Property and not upon any representation made to them by any person, and is purchasing subject Property in the condition in which it now is, Purchaser’s Initial(s) B. 6 of 16 Revised: 7/3/09 without any obligation on the part of the Seller to make any changes, alterations, or repairs thereto. C. Purchaser further acknowledges, “AS IS” encompasses any encroachments affecting the Property. Seller does not warrant there are no encroachments affecting the Property and shall not be responsible for remedying any such encroachments which may exist. Seller does not warrant the existing structure as to its habitability or suitability of occupancy. Purchaser assumes the responsibility to check with appropriate planning authorities for intended use and holds Seller and broker harmless as to suitability for Purchasers intended use. Seller gives no warranties of fitness, either expressed or implied, regarding such personal Property that belongs to Seller, which is transferred as a part of the purchase. The Property may or may not contain an uncapped oil or gas well. Seller has no knowledge of the existence of an oil or gas well on the Property. Purchaser further acknowledges and accepts the Property in “AS IS” condition at the time of closing, including without limitation any hidden defects or environmental conditions affecting the Property (including but not limited to mold, mildew, microscopic organisms, lead paint, fuel oil, allergens, or other toxic substances of any kind), whether known or unknown and whether or not such defects or conditions were discoverable through inspection. D. E. F. G. 17. PURCHASER’S INSPECTION Purchaser waives the opportunity to conduct an inspection. Purchaser elects to do inspections, however realizes that the sale and refund of Earnest Money Deposit is not contingent on inspection results. Property is purchased in “As Is” condition. Seller authorizes Purchaser, at Purchaser’s expense, to make a complete inspection of the Property within seven (7) days from the date of this Contract of Sale. The purpose of the inspection will be to inform Purchaser in a written report of whether the Property is in a condition materially different than Purchaser expected when executing the Contract of Sale. Purchaser acknowledges that it is Purchaser’s sole responsibility to obtain inspection reports by qualified professionals on the appliances, structural components, and alterations or additions to the Property and to determine the presence of any toxic or hazardous substances on the Property which would make it uninhabitable or dangerous to the health of the occupants, or other factors regarding the Property about which the Purchaser may be concerned. No inspections may be made by any building or zoning inspector or government employee, without the prior written consent of Seller. 7 of 16 Revised: 7/3/09 Purchaser’s Initial(s) If the result of the applicable inspection(s) indicates that substantial repairs, not visible at the time the offer was accepted, must be done to the Property, the Seller shall have the opportunity to make repairs to eliminate the objection(s). If Seller elects not to repair, the Purchaser may proceed with this contract and proceed to a closing without any abatement of the purchase price. There is no right of the Purchaser to make any repairs or alterations to the premises prior to closing, unless written consent of Seller is received. If no written objection to the applicable inspections are raised by the Purchasers within ____________________ days (seven (7) days if left blank) of the execution of this contract the contingency herein is deemed satisfied by the Purchaser and the contract shall continue in full force. Seller reserves the right to actively market the property until the Inspection Contingency is satisfied and may cancel this contract and accept superior offers as determined by the Seller. Purchaser will have the opportunity to match or beat any offer the Seller receives within 24 – hours of notification of new offer. If Seller accepts another offer, all the Earnest Money Deposit will be refunded. 18. DEPOSIT FORFEITED IF PURCHASER DEFAULTS If Purchaser fails to complete Purchaser’s part of this agreement, Purchaser agrees that the Seller will keep the Earnest Money Deposit, and that the Seller may cancel the contract by giving written notice to Purchaser. Purchaser further agrees that Seller’s receipt of the deposit will not mean that Seller cannot pursue any other legal rights Seller may have against Purchaser. This Contract also serves as the Release of any Earnest Money Deposit in the event that the Purchaser does not perform under the terms of this contract and the Seller requests Earnest Money from the Closing Agent. No further Release documents need to be executed by the Purchaser for the Release of Earnest Money Deposit(s) to the Seller. 19. SELLER’S LIABILITY In the event Seller fails to complete any part of this contract, its liability to Purchaser shall be limited to and completely satisfied by returning the Earnest Money Deposit. 20. LIFE OF OFFER Seller shall have at least ten (10) days from receipt of this offer to accept or counter this offer. All offers must be in writing. 21. RESPONSIBILITY OF PERSONS UNDER THIS CONTRACT If more than one person signs this contract as Purchaser, each person and any party who takes over that person’s legal position will be responsible for keeping the promise made by Purchaser in this contract. 8 of 16 Revised: 7/3/09 Purchaser’s Initial(s) 22. ASSIGNMENT This agreement is between Seller and Purchaser only and may not be assigned, in part or in whole, to any other party without the expressed written consent of the seller. 23. BROKER Seller recognizes that ___________________________________________________________ were the brokers who brought about this transaction, that no commission will be paid unless title transfers pursuant to this contract, and that no commission will be paid if this transaction fails to close for any reason whatsoever. The Purchaser will not receive any commission. Commissions are calculated on the net sale price, as determined by Seller (IE: sale price – all concessions). 24. PROPERTY CONDITION DISCLOSURE STATEMENT Purchaser acknowledges that, unless required by law, seller will not provide a property condition disclosure statement. Seller acquired this property through a foreclosure and is being sold in AS – IS condition. 25. ENTIRE AGREEMENT This contract, when completely filled out and when signed by both Purchaser and Seller, will be the record of the complete agreement between the Purchaser and Seller concerning the Purchaser and sale of the Property. No verbal agreements or promises will be binding on either the Purchaser or Seller unless they are written down and signed by both the Purchaser and Seller. 9 of 16 Revised: 7/3/09 Purchaser’s Initial(s) 26. CONTRACT ADDENDUM / RIDERS The Addendum(s) attached hereto is in addition to or, in some circumstances, in lieu of the terms of this contract. In the event there is any conflict between any provision in this form contract and any provision in any Addendum provision, the provision in the Addendum shall control. The following addendums are included with this contract: Addendum to Purchase and Sale Contract for Real Estate Owned (REO) (Lead Based Paint) Mold Disclosure and Release Addendum / Amendment to Purchase and Sale Contract for Real Estate Owned (REO) FHA Addendum VA Addendum Other: _________________________________________________________________ Other: _________________________________________________________________ Other: _________________________________________________________________ ___________________________________ Purchaser’s Signature Date ___________________________________ Purchaser’s Signature Date ___________________________________ Purchaser’s Signature Date ______________________________ Seller’s Signature Date M&T Bank ______________________________ Seller’s Name & Title Date ___________________________________ Purchaser’s Agent Signature Date ______________________________ Seller’s Agent Signature Date 10 of 16 Revised: 7/3/09 Purchaser’s Initial(s) SELLER’S CLOSING AGENT Name: ____________________________ Street: ____________________________ City: ____________________________ State, Zip: ____________________________ Phone: ____________________________ Fax : ____________________________ E-Mail: ____________________________ PURCHASER’S CLOSING AGENT Name: ____________________________ Street: ____________________________ City: ____________________________ State, Zip: ____________________________ Phone: ____________________________ Fax : ____________________________ E-Mail: ____________________________ SELLER’S REAL ESTATE AGENT Name: Brian Baumgarten / Realty Direct Street: 44075 Pipeline Plaza #320 City: Ashburn State, Zip: VA 20147 Phone: 703-444-2820 Fax : 703-738-7909 E-Mail: bb@mris.com PURCHASER’S REAL ESTATE AGENT Name: ____________________________ Street: ____________________________ City: ____________________________ State, Zip: ____________________________ Phone: ____________________________ Fax : ____________________________ E-Mail: ____________________________ 11 of 16 Revised: 7/3/09 Purchaser’s Initial(s) ADDENDUM TO CONTRACT OF SALE Disclosure of Information on Lead-Based Paint and/or Lead-Based Paint Hazards Risk Assessment or Inspection Contingency This Addendum is to be made a part of the agreement (Contract of Sale) for: PROPERTY ADDRESS: 14615 Flower Hill Dr. Centreville, VA 20120 SELLER: M&T BANK PURCHASER: _____________________________________________________ DATE OF AGREEMENT: _____________________________________________________ DATE OF ADDENDUM: _____________________________________________________ IN THE EVENT THAT ANY PROVISION OF THIS ADDENDUM CONFLICTS IN WHOLE OR IN PART WITH THE TERMS OF THE CONTRACT SALE, THE PROVISIONS OF THIS ADDENDUM SHALL CONTROL. 1. Lead Warning Statement Lead poisoning in young children may produce permanent neurological damage, including learning disabilities, reduced intelligence quotient, behavioral problems, and impaired memory. Lead poisoning also poses a particular risk to pregnant women. The Seller of any interest in residential real Property is required to provide the Purchaser with any information on lead-based paint hazards from risk assessments or inspections in the Seller's possession and notify the Purchaser of any known lead-based paint hazards. A risk assessment or inspection for possible lead-based paint hazards is recommended prior to purchase. 2. Seller's Disclosure The Seller discloses the following (check applicable boxes): A. Presence of lead-based paint and/or lead-based hazards (check (i) or (ii) below): (i) Known lead-based paint and/or lead-based paint hazards are present in the house (explain). _________________________________________ (ii) Seller has no knowledge of lead-based paint and\or lead-based hazards. paint B. Records and reports available to the Seller (check (i) or (ii) below): (i) Seller has provided the Purchaser with all available records and reports pertaining to lead-based paint and/or lead-based hazards in the house (lists documents below). _________________________________________ _________________________________________ _________________________________________ Purchaser’s Initial(s) 12 of 16 Revised: 7/3/09 (ii) Seller has no reports or records pertaining to lead-based paint and/or lead-based paint hazards in the housing. 3. Purchaser's Acknowledgement. Purchaser acknowledges the following (check applicable boxes): A. Purchaser has received copies of all information listed above. B. Purchaser has received the pamphlet Protect Your Family from Lead in Your Home. C. Purchaser has (check (i) or (ii) below): (i) Purchasers acknowledge that they have been informed of their rights to obtain at their expense for 10 days after the date of this Agreement a lead-based paint inspection or risk assessment.; or (ii) Waived the opportunity to conduct a risk assessment or inspection for the presence of lead-based paint hazards. 4. Agent's Acknowledgement (check applicable box): Agent has informed the Seller of the Seller's obligations in regard to lead based paint. 5. Lead-Based Paint Risk Assessment Contingency (this section only applies if the box is section 3.c.i of this addendum is checked) Purchasers acknowledge that they have been informed of their rights to obtain at their expense for 10 days after the date of this Agreement a lead-based paint inspection or risk assessment. Purchasers hereby waive their rights to an inspection, but reserve their right to arrange for a risk assessment by a certified risk assessor and Sellers agree that such risk assessment may be performed upon reasonable prior notice. Such right shall terminate unless Purchasers deliver a written risk assessment report to Sellers on or before 5:00 p.m. on ____________________, and such report specifically identifies one or more lead-based paint hazards. A lead-based paint hazard means a condition that causes exposure to lead from lead-contaminated dust, soil or paint that is deteriorated or present in accessible, friction or impact surfaces that would result in adverse human health effects. Upon receipt of such report, Sellers may at their option, (A) terminate this Agreement by written notice to Purchaser or (B) elect by written notice to the Purchasers given within 10 days after receipt of the risk assessment report to take such actions, if any, as may be necessary to correct the reported hazards and to furnish to Purchasers on or before ____________________ a written report of a certified risk assessor that the reported hazards either did not exist or have been corrected and no longer exist. If the Sellers shall fail to make or perform the foregoing election in a timely manner, this Agreement shall terminate. Upon termination hereunder, Sellers and Purchasers shall each bear their own expenses and shall have no further liability hereunder. 13 of 16 Revised: 7/3/09 Purchaser’s Initial(s) 6. Certification of Accuracy The following parties have reviewed the information above and certify, to the best of their knowledge, that the information they have provided is true and accurate. THE UNDERSIGNED APPROVE AND ACCEPT THIS ADDENDUM AND ACKNOWLEDGE THIS ADDENDUM TO BE A PART OF THE CONTRACT SALE. ___________________________________ Purchaser’s Signature Date ___________________________________ Purchaser’s Signature Date ___________________________________ Purchaser’s Signature Date ______________________________ Seller’s Name & Title Date ______________________________ Seller’s Signature Date M&T Bank ___________________________________ Purchaser’s Agent Signature Date ______________________________ Seller’s Agent Signature Date 14 of 16 Revised: 7/3/09 Purchaser’s Initial(s) Mold Disclosure and Release Subject Property: Buyer is hereby advised that mold and/or other microscopic organisms may exist at the Subject Property and such microscopic organisms and/or mold may cause physical injuries, including but not limited to allergic and/or respiratory reactions or other problems, particularly in persons with immune system problems, young children and/or elderly persons. Mold is a general term for visible growth of fungus, whether it is visible directly or is visible when barriers, such as building components (for example, walls) or furnishings (for example, carpets), are removed. Buyer acknowledges and agrees that previous discussions have occurred concerning the presence of mold and moisture in the Subject Property. Buyer acknowledges and accepts that the Subject Property is being offered for sale in its current condition “AS IS.” Buyer acknowledges and agrees to accept full responsibility/risk for any matters that may result from moisture, microscopic organisms and/or mold. In consideration of the sale of the Property to the Buyer, Buyer, on behalf of him/herself as well as Buyer’s agents, heirs, assigns, successors, and affiliates, does hereby release, indemnify, hold harmless and forever discharge the Seller, as owner of the Property and separately, Seller’s agents, independent contractors, (including without limitation Safeguard Properties, Inc.), their officers, employees, agents, parent and subsidiary corporations, affiliates, successors and assigns, from any and all claims, liabilities, or causes of action of any kind that the Buyer may now have or at any time in the future may have against the Seller and/or Safeguard resulting from the presence of moisture or mold in, on or around the Property. Buyer has been given the opportunity to review this Release Agreement with Buyer’s attorney or other representatives of Buyer’s choosing. Buyer hereby acknowledges reading this disclosure and release and is fully aware of the condition set forth herein. This disclosure and release is executed voluntarily and with full knowledge of its significance. REAL ESTATE AGENTS AND AGENTS ARE NOT QUALIFIED TO INSPECT PROPERTY FOR MOLD OR MAKE RECOMMENDATIONS OR DETERMINATIONS CONCERNING POSSIBLE HEALTH OR SAFETY ISSUES. THE PURPOSE OF THIS DISCLAIMER IS TO PUT BUYER ON NOTICE TO CONDUCT THEIR OWN DUE DILIGENCE REGARDING THIS MATTER USING APPROPRIATE, QUALIFIED EXPERTS. “PURCHASER” ______________________________________ Printed Name ____________________________________ Purchaser’s Signature Date: _______________________________ “PURCHASER” ______________________________________ Printed Name ____________________________________ Purchaser’s Signature Date: _______________________________ 15 of 16 Revised: 7/3/09 Purchaser’s Initial(s) Addendum / Amendment to Purchase and Sale Contract for Real Estate Owned (REO) This Addendum is to be made a part of the agreement (Contract of Sale) for: PROPERTY ADDRESS: 14615 Flower Hill Dr. Centreville, VA 20120 SELLER: M&T BANK PURCHASER: _____________________________________________________ DATE OF AGREEMENT: _____________________________________________________ DATE OF ADDENDUM: _____________________________________________________ IN THE EVENT THAT ANY PROVISION OF THIS ADDENDUM CONFLICTS IN WHOLE OR IN PART WITH THE TERMS OF THE PURCHASE AND SALE CONTRACT, THE PROVISIONS OF THIS ADDENDUM / AMENDMENT SHALL CONTROL. The following is agreed to by the Purchaser and Seller: _______________________________________________________________________ _______________________________________________________________________ _______________________________________________________________________ _______________________________________________________________________ _______________________________________________________________________ _______________________________________________________________________ _______________________________________________________________________ _______________________________________________________________________ _______________________________________________________________________ All other terms and conditions of said Agreement remain unchanged. ___________________________________ Purchaser’s Signature Date ___________________________________ Purchaser’s Signature Date ___________________________________ Purchaser’s Agent Signature Date ______________________________ Seller’s Signature Date M&T Bank ______________________________ Seller’s Agent Signature Date 16 of 16 Revised: 7/3/09 Purchaser’s Initial(s)