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<br />Third Party FinanCing Condition Addendum Concemlng <br /> <br />Page Two 02-09-2004 <br /> <br />330 N 5th stl:eet.. c.La......Porte. TAxas <br />(Address of Property) <br /> <br />(J D. VA GUARANTEED FINANCING: A VA guaranteed loan of not less than $ <br />(excluding any flnanced Funding Fee), amortizable monthly fOf not less than years, <br />with Interest not to exceed % per annum for the first year(s) of the loan <br />with Loan Fees (loan origination, discount, buy-down, and commitment fees) not to exceed <br />% of the loan. <br /> <br />VA NOTICE TO BUYER: "It is expressly agreed thett, notwithstanding any other provIsIons of <br />this contract, the Buyer shall not incur any penalty by forfeiture of earnest money or <br />otherwise or be obligated to complete the purchase of the Property described herein, if the <br />contract purchase price or cost exceeds the reasonable value of the Property established by <br />the Dep"rtment of Veterans Affairs. The Buyer shall, however, have the privilege and <br />option of proceeding with the consummation of thIs contract without regard to the amount <br />of the reasonable value established by the Department of Veterans Affairs. " <br /> <br />If Buyer elects to complete the purchase at an amount In excess of the reasonable value <br />established by VA, Buyer shall pay such excess amount In cash from a source which Buyer <br />agrees to disclose to the VA and which Buyer rep~esents will not be from borrowed funds <br />except as approved by VA. If VA reasonable value of the Property Is less than the Sales <br />Price, Seller may reduce the Sales Price to an amount equal to the VA reasonable value and <br />the sale will be closed at the lower Sa les Price with proportIonate adjustments to the down <br />payment and the loan amount. <br /> <br />Buyer hereby authorIzes any lender to fumlsh to the Seller or Buyer or their representatives <br />Information relating only to the status of financing approval of auyer. <br /> <br />~,,",-L\)J ~ I <br /> <br />Buyer <br /> <br /> <br />6uyer <br /> <br />Seller <br /> <br />This form hilS been approved by the Texas Real Estate CommIssion for use with similarly approved or <br />promulgated contract forms. SuCh apprOval relates to this form only. TREC forms are intended for <br />use only by trained real estate licensees. No representation is mllde as to the legal validity or <br />adequacy of any proviSion In any specific transactions. It is not suitable for complex transactions. <br />Texas Real Estate Commission, P.O. Box 12188, Austin, TX 78711-2188, 1-800-250-8732 or (512) <br />459-6544 (http://www.trec::.!ltate.bt.us)TREeNo.40-1.This form replacfi TR.!;C NQ. 40-0. <br /> <br />01A <br /> <br />------- <br />