Laserfiche WebLink
<br />Third Party Financing Condition Addendum Concerning Page Two 10-29-01 <br /> <br />323 N. 7th St., La Porte, TX 77571 <br />(Address of Property) <br /> <br />o D. VA GUARANTEED FINANCING: A VA guaranteed loan of not less than $ <br />(excluding any financed Funding Fee), amortizable monthly for not less than years, <br />with interest not to exceed % per annum for the first year(s) of the loan <br />with Loan Fees not to exceed % of the loan. <br /> <br />VA NOTICE TO BUYER: "It is expressly agreed that, 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 Department 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. n <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 represents 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 Sales Price with proportionate adjustments to the down <br />payment and the loan amount. <br /> <br />J <br /> <br />Jd!19JLJ~~ <br /> <br />v' 20M, ~ tl~ ~~ <br /> <br />Buyer <br /> <br />Buyer <br /> <br />Seller <br /> <br />This form has been approved by the Texas Real Estate Commission for use with similarly <br />approved or promulgated contract forms. Such approval relates to this form only. TREC <br />forms are intended for use only by trained real estate licensees. No representation is made as <br />to the legal validity or adequacy of any provision in any specific transactions. It is not suitable <br />for complex transactions. Texas Real Estate Commission, P.O. Box 12188, Austin, TX 78711- <br />2188, 1-800-250-8732 or (512) 459-6544 (http://www.trec.state.tx.us) TREC No. 40-0. <br /> <br />01A <br />