residential contract of sale - move2olney.com

RESIDENTIAL CONTRACT OF SALE

This is a Legally Binding Contract; If Not Understood, Seek Competent Legal Advice.THIS FORM IS DESIGNED AND INTENDED FOR THE SALE AND PURCHASE OF IMPROVED SINGLE FAMILY RESIDENTIAL REAL ESTATE

LOCATED IN MARYLAND ONLY. FOR OTHER TYPES OF PROPERTY INCLUDE APPROPRIATE ADDENDA.BROKER: BRANCH OFFICE:OFFICE PHONE: BROKER/AGENT ID:SALES ASSOCIATE: PHONE:

SELLER AGENT (WHETHER "COOPERATING AGENT" OR "SELLING AGENT"); ORBUYER AGENT; ORINTRA - COMPANY AGENT WITH BROKER AS DUAL AGENT

IN COOPERATION WITH

LISTING BROKER AND SELLER AGENT; ORINTRA - COMPANY AGENT WITH BROKER AS DUAL AGENT

FAX:E-Mail:

1. DATE OF OFFER:2. SELLER: NAME:

ADDRESS: ZIP:

3. BUYER: NAME:ADDRESS: ZIP:

4. PROPERTY DESCRIPTION: Seller does sell to Buyer and Buyer does purchase from Seller, all of the following

located in City/County, Maryland, Zip together with the improvementsthereon, and all rights and appurtenances thereto belonging.5. PURCHASE PRICE: The purchase price isDollars ($ ).6. SETTLEMENT: Date of Settlement or sooner if agreed to in writing by both parties.

ACTING AS:

BROKER: BRANCH OFFICE:OFFICE PHONE: FAX: BROKER/AGENT ID:SALES ASSOCIATE: E-Mail: PHONE:ACTING AS:

As used in this Contract, and in any addendum or addenda to this Contract, the term “days” shall mean consecutivecalendar days, including Saturdays, Sundays, and holidays, whether federal, state, local or religious. A day shall bemeasured from 12:00:01 a.m. to and including 11:59:59 p.m. E.S.T. For the purposes of calculating days, the count of“days” shall begin on the day following the day upon which any act or notice as provided in this Contract, or any addendumor addenda to this Contract, was required to be performed or made.

described Property (hereinafter "Property") known as

of 10 10/05Buyer / Seller /

7. ESTATE: The Property is being conveyed: in fee simple or subject to an annual ground rent, nowexisting or to be created, in the amount ofDollars ($ ) payable semi-annually, as now or to be recorded among the Land Records of

City/County, Maryland. If the Property is subject to ground rent and theground rent is not timely paid, the owner of the reversionary interest (i.e., the person to whom the ground rent is payable)may bring an action of ejectment against the leasehold owner pursuant to Section 8-402.2 of the Real Property Article,Annotated Code of Maryland (as amended).

Phone: Fax:Produced with ZipForm™ by RE FormsNet, LLC 18025 Fifteen Mile Road, Clinton Township, Michigan 48035 www.zipform.com

TIME IS OF THE ESSENCE.

As a result of this action, the owner of the reversionary interest may obtain title to the Property in fee, discharged from thelease.

X

X

Mark Clark, Cynthia Clark

3816 Gawayne TerraceSilver Spring 20906

Re/Max Realty Centre Inc. RRC1(301)774-5900 (240)371-0087 3223

Ann Joliet [email protected] (301)774-1415

XXX N/A

N/AMontgomery

Re/Max Realty Centre, Inc 3300 Olney Sandy Spring Road, Olney Md 20832301-774-1415 240-371-0087 Ann Joliet T7722361.ZFX

Time is of the essence of this Contract. The failure of Seller or Buyer to perform any act asprovided in this Contract by a prescribed date or within a prescribed time period shall be a default under this Contract andthe non defaulting party, upon written notice to the defaulting party, may declare this Contract null and void and of nofurther legal force and effect. In such event, all Deposit(s) shall be disbursed in accordance with Paragraph 22 of thisContract.

Owner

Highlight

Owner

Text Box

pg1


8.

9.

10.

11.

12.

Produced with ZipForm™ by RE FormsNet, LLC 18025 Fifteen Mile Road, Clinton Township, Michigan 48035 www.zipform.com

Residential Contract of Sale

SETTLEMENT COSTS: NOTICE TO BUYER: BUYER HAS THE RIGHT TO SELECT BUYER’S OWN TITLEINSURANCE COMPANY, TITLE LAWYER, SETTLEMENT COMPANY, ESCROW COMPANY, MORTGAGE LENDER,OR FINANCIAL INSTITUTION AS DEFINED IN THE FINANCIAL INSTITUTIONS ARTICLE, ANNOTATED CODE OFMARYLAND. BUYER ACKNOWLEDGES THAT SELLER MAY NOT BE PROHIBITED FROM OFFERING OWNERFINANCING AS A CONDITION OF SETTLEMENT. Buyer agrees to pay all other settlement costs and charges including,but not limited to, all Lender’s fees in connection herewith, including title examination and title insurance fees, all documentpreparation and recording fees, notary fees, survey fees where required, and all recording charges, except those incident toclearing existing encumbrances or title defects, except if Buyer is a Veteran obtaining VA financing, those prohibited to bepaid by a Veteran obtaining VA financing or except if Buyer is obtaining FHA financing, those prohibited to be paid by aBuyer obtaining FHA financing, which prohibited charges shall be paid by Seller.

TRANSFER CHARGES: SECTION 14-104 OF THE REAL PROPERTY ARTICLE OF THE ANNOTATED CODE OFMARYLAND PROVIDES THAT, UNLESS OTHERWISE NEGOTIATED IN THE CONTRACT OR PROVIDED BY STATEOR LOCAL LAW, THE COST OF ANY RECORDATION TAX OR ANY STATE OR LOCAL TRANSFER TAX SHALL BESHARED EQUALLY BETWEEN THE BUYER AND SELLER. Unless otherwise provided by an addendum to this Contract,the costs of state and local transfer and recordation taxes (other than agricultural land transfer tax) shall be shared equallyby Buyer and Seller. (If First-Time Maryland Home Buyer: See Transfer and Recordation Tax Addendum.)

ADJUSTMENTS: Ground rent, homeowner’s association fees, rent and water rent shall be adjusted and apportionedas of date of settlement; and all taxes, general or special, and all other public or governmental charges or assessmentsagainst the Property which are or may be payable on a periodic basis, including Metropolitan District Sanitary Commissionor other benefit charges, assessments, liens or encumbrances for sewer, water, drainage, paving, or other publicimprovements completed or commenced on or prior to the date hereof, or subsequent thereto, are to be adjusted andapportioned as of the date of settlement and are to be assumed and paid thereafter by Buyer, whether assessments havebeen levied or not as of date of settlement if applicable by local law. Any heating or cooking fuels remaining in supplytank(s) at time of settlement shall become the property of Buyer.

TERMITE INSPECTION: Buyer, at Buyer’s expense, (if VA, then at Seller’s expense) is authorized to obtain a writtenreport from a Maryland licensed pest control company that, based on a careful visual inspection, there is no evidence oftermite or other wood-destroying insect infestation in the residence or within three (3) feet of the residence; and damagedue to previous infestation has been repaired. The provisions of this paragraph also shall apply to (1) the garage or withinthree (3) feet of the garage (whether attached or detached), (2) any outbuildings located within three feet of the residenceor garage and (3) a maximum of ten (10) linear feet of the nearest portion of a fence on Seller’s Property within three feet ofthe residence or garage. If there is evidence of present infestation as described above, or if damage caused by present orprior infestation is discovered, Seller, at Seller’s expense, shall repair any damage caused by present or prior infestationand have the present infestation treated by a licensed pest control company. If the cost of treatment and repair of suchdamage exceeds 2% of the purchase price, Seller may, at Seller’s option, cancel this Contract, unless Buyer, at Buyer’soption should choose to pay for the cost of treatment and repairs exceeding 2% of the purchase price, then this Contractshall remain in full force and effect. If such report reveals damage for which the cost of treatment and repair exceeds 2% ofthe purchase price, Seller’s decision regarding treatment and repair of damage shall be communicated in writing to Buyerwithin five (5) days from receipt of the report, after which Buyer shall respond to Seller in writing with Buyer’s decision withinthree (3) days from receipt of Seller’s notification of Seller’s decision. If Seller does not notify Buyer in writing of Seller’sdecision within five (5) days from receipt of report, Buyer may, at Buyer’s option, pay for the cost of treatment and repairsexceeding 2% of the purchase price. If Buyer does not want to pay for the cost of treatment and repairs exceeding 2% ofthe purchase price, Buyer may terminate this Contract upon written notice delivered to Seller. In the event this Contract isterminated under the terms of this paragraph, the Deposit(s) shall be disbursed in accordance with the Deposit(s)paragraph of this Contract.

CONDITION OF PROPERTY AND POSSESSION: At settlement, Seller shall deliver possession of the Property andshall deliver the Property vacant, clear of trash and debris, broom clean and in substantially the same condition as existedon the date of Contract Acceptance. All electrical, heating, air conditioning (if any), plumbing (including well and septic), andany other mechanical systems and related equipment, appliances and smoke detector(s) included in this Contract shall bein working condition. Buyer reserves the right to inspect the Property within five (5) days prior to settlement. EXCEPT ASOTHERWISE SPECIFIED IN THIS CONTRACT, INCLUDING THIS PARAGRAPH 12, THE PROPERTY IS SOLD “ASIS”. The obligations of Seller as provided in this Paragraph 12 shall be in addition to any Disclosure and DisclaimerStatement as required by Section 10-702, Real Property Article, Annotated Code of Maryland AND any provision(s) of anyinspection contingency or contingencies addendum or addenda made a part of this Contract.13. SALE/SETTLEMENT OR LEASE OF OTHER REAL ESTATE: Neither this Contract nor the granting of Buyer’s loanreferred to herein is to be conditioned or contingent in any manner upon the sale, settlement and/or lease of any other realestate unless a contingency for the sale, settlement and/or lease of other real estate is contained in an addendum to thisContract. Unless this Contract is expressly contingent upon the sale, settlement and/or lease of any other real estate, Buyershall neither apply for nor accept a financing loan commitment which is contingent upon or requires as a pre-condition tofunding that any other real estate be sold, settled and/or leased.

T7722361.ZFX

Owner

Highlight

Owner

Text Box

pg2


14.

15.

16.

17.



BUYER RESPONSIBILITY: If Buyer has misrepresented Buyer’s financial ability to consummate the purchase of theProperty, or if this Contract is contingent upon Buyer securing a written commitment for financing and Buyer fails to applyfor such financing within the time period herein specified, or fails to pursue financing diligently and in good faith, or if Buyermakes any misrepresentations in any document relating to financing, or takes (or fails to take) any action which causesBuyer’s disqualification for financing, then Buyer shall be in default; and Seller may elect by written notice to Buyer, toterminate this Contract and/or pursue the remedies set forth under the “Default” Paragraph 16.

SELLER RESPONSIBILITY: Seller agrees to keep existing mortgages free of default until settlement. All violationnotices or requirements noted or issued by any governmental authority, or actions in any court on account thereof, againstor affecting the Property at the date of settlement of this Contract, shall be complied with by Seller and the Propertyconveyed free thereof.

DEFAULT: Buyer and Seller are required and agree to make full settlement in accordance with the terms of thisContract and acknowledge that failure to do so constitutes a breach hereof. If Buyer fails to make full settlement or is indefault due to Buyer’s failure to comply with the terms, covenants and conditions of this Contract, the Deposit(s) may beretained by Seller as long as a release of Deposit(s) agreement is signed and executed by all parties, expressing that saidDeposit(s) may be retained by Seller. In the event the parties do not agree to execute a release of Deposit(s), Buyer andSeller shall have all legal and equitable remedies. If Seller fails to make full settlement or is in default due to Seller’s failureto comply with the terms, covenants and conditions of this Contract, Buyer shall be entitled to pursue such rights andremedies as may be available, at law or in equity, including, without limitation, an action for specific performance of thisContract and/or monetary damages. In the event of any litigation or dispute between Buyer and Seller concerning therelease of the Deposit(s), Broker’s sole responsibility may be met, at Broker’s option, by paying the Deposit(s) into the courtin which such litigation is pending, or by paying the Deposit(s) into the court of proper jurisdiction by an action ofinterpleader. Buyer and Seller agree that, upon Broker’s payment of the Deposit(s) into the court, neither Buyer nor Sellershall have any further right, claim, demand or action against Broker regarding the release of the Deposit(s); and Buyer andSeller, jointly and severally, shall indemnify and hold Broker harmless from any and all such rights, claims, demands oractions. In the event of such dispute and election by Broker to file an action of interpleader as herein provided, Buyer andSeller further agree and hereby expressly and irrevocably authorize Broker to deduct from the Deposit(s) all costs incurredby Broker in the filing and maintenance of such action of interpleader including but not limited to filing fees, court costs,service of process fees and attorneys’ fees, provided that the amount deducted shall not exceed the lesser of $500 or theamount of the Deposit(s) held by Broker. All such fees and costs authorized herein to be deducted may be deducted byBroker from the Deposit(s) prior to paying the balance of the Deposit(s) to the court. Buyer and Seller further agree andexpressly declare that all such fees and costs so deducted shall be the exclusive property of Broker. If the amountdeducted by Broker is less than the total of all of the costs incurred by Broker in filing and maintaining the interpleaderaction, then Buyer and Seller jointly, and severally, agree to reimburse Broker for all such excess costs upon the conclusionof the interpleader action.

MEDIATION OF DISPUTES: Mediation is a process by which the parties attempt to resolve a dispute or claim with theassistance of a neutral mediator who is authorized to facilitate the resolution of the dispute. The mediator has no authorityto make an award, to impose a resolution of the dispute or claim upon the parties or to require the parties to continuemediation if the parties do not desire to do so. Buyer and Seller agree that any dispute or claim arising out of or from thisContract or the transaction which is the subject of this Contract shall be mediated through the Maryland Association ofREALTORS®, Inc. or its member local boards/associations in accordance with the established Mediation Rules andGuidelines of the Association or through such other mediator or mediation service as mutually agreed upon by Buyer andSeller, in writing. Unless otherwise agreed in writing by the parties, mediation fees, costs and expenses shall be dividedand paid equally by the parties to the mediation. If either party elects to have an attorney present that party shall pay his orher own attorney’s fees. BUYER AND SELLER FURTHER AGREE THAT THE OBLIGATION OF BUYER AND SELLERTO MEDIATE AS HEREIN PROVIDED SHALL APPLY TO ALL DISPUTES AND CLAIMS ARISING WHETHER PRIORTO, DURING OR WITHIN ONE (1) YEAR FOLLOWING THE ACTUAL CONTRACT SETTLEMENT DATE OR WHENSETTLEMENT SHOULD HAVE OCCURRED. BUYER AND SELLER AGREE THAT NEITHER PARTY SHALL INITIATEOR COMMENCE ANY ACTION IN ANY COURT OR BEFORE ANY ADMINISTRATIVE AGENCY, WITHOUT FIRSTSUBMITTING THE DISPUTE OR CLAIM TO MEDIATION AS HEREIN PROVIDED. IN THE EVENT BUYER AND/ORSELLER SHALL INITIATE OR COMMENCE ANY ACTION IN ANY COURT OR BEFORE ANY ADMINISTRATIVEAGENCY WITHOUT FIRST SUBMITTING THE DISPUTE OR CLAIM TO MEDIATION AS HEREIN PROVIDED, THEPARTY INITIATING OR COMMENCING SUCH ACTION AGREES TO PAY ALL COSTS AND EXPENSES, INCLUDINGREASONABLE ATTORNEYS’ FEES, INCURRED TO ENFORCE THE OBLIGATION AS PROVIDED HEREIN TO FIRSTMEDIATE THE DISPUTE OR CLAIM BY ANY PERSON OR ENTITY WITH WHOM OR WITH WHICH THE PARTY WASREQUIRED TO MEDIATE. THE PROVISIONS OF THIS PARAGRAPH SHALL SURVIVE CLOSING AND SHALL NOT BEDEEMED TO HAVE BEEN EXTINGUISHED BY MERGER WITH THE DEED.

T7722361.ZFX

Owner

Highlight

Owner

Text Box

pg3


21.

18. PAYMENT TERMS: The payment of the purchase price shall be made by Buyer as follows:(a) An initial Deposit(s) by way of in the amount of

Dollars ($ )at the time of this offer. (b) An additional Deposit(s) by way of in the amount of

Dollars ($ )to be paid within ( ) days from the Date of Contract Acceptance. (c) Thepurchase price less any and all Deposit(s) shall be paid in full by Buyer in cash, wired funds, bank check, certified check orother payment acceptable to the settlement officer at settlement. (d) All Deposit(s) will be held in escrow by:

19.

(Mark) Assumption Addendum FHA Financing Addendum

Loan Amount $Gift of Funds Contingency Addendum

Term of Note YearsOwner Financing Addendum

Amortization YearsInterest Rate %Loan Program No Financing Contingency

Conventional Loan as follows:

VA Financing Addendum

20.( ) days from the Date of Contract Acceptance. If

such written financing commitment is not obtained by Buyer within ( )days from the Date of Contract Acceptance, Seller, at Seller’s election and upon written notice to Buyer, may declare thisContract null and void and of no further legal effect, and all Deposit(s) shall be disbursed in accordance with the Deposit(s)paragraph of this Contract. If Buyer has complied with all of Buyer’s obligations under this Contract, including those withrespect to applying for financing and seeking to obtain financing, then the release of Deposit(s) agreement shall providethat Deposit(s) shall be returned to Buyer.

22.

A non-interest bearing account.OR An interest bearing account, the interest on which, in absence of default by Buyer, shall accrue to the benefit of

Buyer.

OTHER:



FINANCING APPLICATION AND COMMITMENT: Buyer agrees to make written application for the financing as hereindescribed within

ALTERNATE FINANCING: Provided Buyer timely and diligently pursues the financing described in Paragraph 19“Financing”; Paragraph 20 “Financing Application and Commitment”; and the provisions of Paragraph 14 “BuyerResponsibility”, Buyer, at Buyer’s election, may also apply for alternate financing. If Buyer, at Buyers sole option, obtainsa written commitment for financing in which the loan amount, term of note, amortization period, interest rate, down paymentor loan program differ from the financing as described in Paragraph 19 above, or any addendum to this Contract, theprovision of Paragraph 19 or any addendum to this Contract shall be deemed to have been fully satisfied. Such alternatefinancing may not increase costs to Seller or exceed the time allowed to secure the financing commitment as provided inParagraph 20 above, or any addendum to this Contract.

DEPOSIT(S): Buyer hereby authorizes and directs Broker as specified in Paragraph 18-d of this Contract to hold theinitial Deposit(s) instrument without negotiation or Deposit(s) until the parties have executed and accepted this Contract.Upon acceptance, the initial Deposit(s) and additional Deposit(s) (the “Deposit(s)”), if any, shall be placed in escrow asprovided below and in accordance with the requirements of Section 17-502(b)(1), Business Occupations and ProfessionsArticle, Annotated Code of Maryland. If Seller does not execute and accept this Contract, the initial Deposit(s) instrumentshall be promptly returned to Buyer. Brokers may charge a fee for establishing an interest bearing account. Buyer andSeller instruct Broker to place the Deposit(s) in: (Mark One)

.FINANCING: This Contract is contingent upon Buyer obtaining a written commitment for a loan secured by the Property

as follows:

The Deposit(s) shall be disbursed by Broker at settlement. In the event this Contract shall be terminated or settlement doesnot occur, Buyer and Seller agree that the Deposit(s) shall be disbursed by Broker only in accordance with a release ofDeposit(s) agreement executed by Buyer and Seller. In the event Buyer and/or Seller fail to complete the real estatetransaction in accordance with the terms and conditions of this Contract, and either Buyer or Seller shall be unable orunwilling to execute a release of Deposit(s) agreement, Buyer and Seller hereby acknowledge and agree that Broker maydistribute the Deposit(s) in accordance with the provisions of Section 17-505(b)(1), Business Occupations and ProfessionsArticles, Annotated Code of Maryland.23. CONVENTIONAL LOAN LENDER FEES/CHARGES: Buyer agrees to pay loan origination/loan discount fees of

% of the loan amount, and Seller agrees to pay loan origination/loan discount fees of % of theloan amount. Buyer shall receive the benefit of any reduction in said fees. All loan insurance premiums as required byLender shall be paid by Buyer. If the existing loan is to be transferred to/assumed by Buyer, Buyer agrees to pay all feesand charges required by Lender.

check

T7722361.ZFX

Owner

Text Box

XXX

Owner

Text Box

--0--

Owner

Text Box

TBD

Owner

Highlight

Owner

Text Box

pg4


24.

INCLUDEDAlarm SystemBuilt-in MicrowaveCeiling Fan(s) #Central VacuumClothes DryerClothes WasherCooktopDishwasherDrapery/Curtain RodsDraperies/CurtainsElectronic Air Filter

INCLUDEDExhaust Fan(s) #Exist. W/W CarpetFireplace Screen/DoorsFreezerFurnace HumidifierGarage Opener(s) #

w/remotes(s) #Garbage DisposerHot Tub, Equip. & CoverIntercom

INCLUDEDPool, Equip. & CoverRefrigerator(s) #

w/ice makerSatellite DishScreensShades/BlindsStorage Shed(s) #Storm DoorsStorm WindowsStove or Range

Playground Equipment

INCLUDED

T.V. Antenna

Trash CompactorWall Oven(s) #Water FilterWater SoftenerWindow A/C Unit(s)#Window Fan(s)

ADDITIONAL INCLUSIONS (SPECIFY):

ADDITIONAL EXCLUSIONS (SPECIFY):

25.

26.

27.

28.



INCLUSIONS/EXCLUSIONS: Included in the purchase price are all permanently attached fixtures, including all smokedetectors. Certain other now existing items which may be considered personal property, whether installed or stored uponthe property, are included if box below is marked.

AGENCY CONFIRMATION: Buyer and Seller each confirm that disclosure of the agency relationships as described inthis Contract conforms with the agency relationships previously agreed to in writing.

BROKER’S FEE: All parties irrevocably instruct the settlement agent to collect the fee or compensation and disbursesame according to the terms and conditions provided in the listing agreement and/or agency representation agreement.Settlement shall not be a condition precedent to payment of compensation.

BROKER LIABILITY: Brokers, their agents, subagents and employees do not assume any responsibility for thecondition of the Property or for the performance of this Contract by any or all parties hereto. By signing this Contract, Buyerand Seller acknowledge that they have not relied on any representations made by Brokers, or any agents, subagents oremployees of Brokers, except those representations expressly set forth in this Contract.

ATTORNEY’S FEES: In any action or proceeding between Buyer and Seller based, in whole or in part, upon theperformance or non-performance of the terms and conditions of this Contract, including, but not limited to, breach ofcontract, negligence, misrepresentation or fraud, the prevailing party in such action or proceeding shall be entitled toreceive reasonable attorney’s fees from the other party as determined by the court or arbitrator. In any action or proceedingbetween Buyer and Seller and/or between Buyer and Broker(s) and/or Seller and Broker(s) resulting in Broker(s) beingmade a party to such action or proceeding, including, but not limited to, any litigation, arbitration, or complaint and claimbefore the Maryland Real Estate Commission, whether as defendant, cross-defendant, third-party defendant or respondent,Buyer and Seller jointly and severally, agree to indemnify and hold Broker(s) harmless from and against any and all liability,loss, cost, damages or expenses (including filing fees, court costs, service of process fees, transcript fees and attorneys’fees) incurred by Broker(s) in such action or proceeding, providing that such action or proceeding does not result in ajudgment against Broker(s).

As used herein, the term “Broker(s)” shall mean (a) the two (2) Brokers as identified at the top of Page 1 of thisContract; (b) the two (2) named Sales Associates as identified at the top of Page 1 of the Contract; and, (c) any agent,subagent, salesperson, independent contractor and/or employees of Broker(s). The term “Broker(s)” shall also mean, in thesingular, any or either of the named Broker(s) and/or Sales Associate(s) as identified or, in the plural, both of the namedBrokers and/or Sales Associates as identified.

#Wood Stove

This Paragraph 28 shall apply to any and all such action(s) or proceeding(s) against Broker(s) including those action(s)or proceeding(s) based, in whole or in part, upon any alleged act(s) or omission(s) by Broker(s), including, but not limited to,any alleged act of misrepresentation, fraud, non-disclosure, negligence, violation of any statutory or common law duty, orbreach of fiduciary duty by Broker(s). The provision of this Paragraph 28 shall survive closing and shall not be deemed tohave been extinguished by merger with the deed.29. NON-ASSIGNABILITY: This Contract may not be assigned without the written consent of Buyer and Seller. If Buyerand Seller agree in writing to an assignment of this Contract, the original parties to this Contract remain obligatedhereunder until settlement.30. LEASES: Seller may neither negotiate new leases nor renew existing leases for the Property which extend beyondsettlement or possession date without Buyer’s written consent.

PROPERTY INSURANCE 31.A. RISK OF LOSS: The Property is to be held at the risk of Seller until legal title has passed or possession has been givento Buyer. If, prior to the time legal title has passed or possession has been given to Buyer, whichever shall occur first, all ora substantial part of the Property is destroyed or damaged, without fault of Buyer, then this Contract, at the

4

41

2 additional non-fixed floor cabinets in kitchen

T7722361.ZFX

XXX

XX

XXX

XXX

X

X

X

XXXX

X

Owner

Highlight

Owner

Text Box

(as-is)

Owner

Text Box

as-is

Owner

Text Box

as-is

Owner

Text Box

as-is

Owner

Text Box

(as-is)

Owner

Text Box

(as-is)

Owner

Text Box

cabinet in laundry room and transfer of current AHS home warranty to expire August 2006.

Owner

Text Box

pg5


32.

A. Water quantity, quality, color, or taste or operating conditions of public and/or private water systems.B. Location, size or operating condition of on-site sewage disposal systems.C.

D.

E.

F.

G. Buyer and Seller each assume full responsibility for selecting and compensating their respective vendors.

34.



B.

35.

36.

option of Buyer, upon written notice to Seller, shall be null and void and of no further effect, and all Deposits(s) shall bedisbursed in accordance with the Deposit(s) paragraph of this Contract.

INSURABILITY: An informational brochure published by the Maryland Association of REALTORS®, Inc. titled “TheNew Reality of Property Insurance – What You Should Know” is available to explain current issues relative to obtaininginsurance coverage for the Property to be purchased.

NOTICE TO THE PARTIES: BROKERS, THEIR AGENTS, SUBAGENTS AND EMPLOYEES, MAKE NOREPRESENTATIONS WITH RESPECT TO THE FOLLOWING:

The extensions of public utilities by local municipal authorities, existence or availability of public utilities, and anyassessments, fees or costs for public utilities which might be imposed by local municipal authorities, should public utilitiesbe extended or available to the subject Property. (Buyer should consult the Department of Public Works to determine theavailability of proposed future extensions of utilities.)

Lot size and exact location: If the subject Property is part of a recorded subdivision, Buyer can review the plat uponrequest at the Record Office. If the subject Property is not part of a recorded subdivision, Buyer may verify exact size andlocation through a survey by a licensed engineer or land surveyor, at Buyer’s expense.

Existing zoning or permitted uses of the Property: Buyer should contact the Zoning Office and/or a licensed engineer toverify zoning and permitted uses.

Brokers/agents are not advising the parties as to certain other issues, including without limitation: soil conditions; floodhazard areas; possible restrictions of the use of property due to restrictive covenants, subdivision, environmental laws,easements or other documents; airport or aircraft noise; planned land use, roads or highways; and construction materialsand/or hazardous materials, including without limitation flame retardant treated plywood (FRT), radon, radium, mold spores,urea formaldehyde foam insulation (UFFI), synthetic stucco (EIFS), asbestos, polybutylene piping and lead-based paint.Information relating to these issues may be available from appropriate governmental authorities. This disclosure is notintended to provide an inspection contingency.

SINGLE FAMILY RESIDENTIAL REAL PROPERTY DISCLOSURE NOTICE: BUYER IS ADVISED OF THE RIGHTTO RECEIVE A “DISCLOSURE AND DISCLAIMER STATEMENT” FROM SELLER (SECTION 10-702 REAL PROPERTYARTICLE, ANNOTATED CODE OF MARYLAND).

NOTICE TO BUYER CONCERNING THE CHESAPEAKE AND ATLANTIC COASTAL BAYS CRITICAL AREA:Buyer is advised that all or a portion of the property may be located in the "Critical Area" of the Chesapeake andAtlantic Coastal Bays, and that additional zoning, land use, and resource protection regulations apply in this area.The "Critical Area" generally consists of all land and water areas within 1,000 feet beyond the landward boundariesof state or private wetlands, the Chesapeake Bay, the Atlantic Coastal Bays, and all of their tidal tributaries. The"Critical Area" also includes the waters of and lands under the Chesapeake Bay, the Atlantic Coastal Bays and allof their tidal tributaries to the head of tide. For information as to whether the property is located within the CriticalArea, Buyer may contact the local Department of Planning and Zoning, which maintains maps showing the extentof the Critical Area in the jurisdiction. Allegany, Carroll, Frederick, Garrett, Howard, Montgomery and WashingtonCounties do not include land located in the Critical Area.

DEED AND TITLE: Upon payment of the purchase price, a deed for the Property containing covenants of specialwarranty and further assurances, shall be executed by Seller and shall convey the Property to Buyer. Title to the Property,including all chattels included in the purchase, shall be good and merchantable, free of liens and encumbrances except asspecified herein; except for use and occupancy restrictions of public record which are generally applicable to properties inthe immediate neighborhood or the subdivision in which the Property is located and publicly recorded easements for publicutilities and any other easements which may be observed by an inspection of the Property. Buyer expressly assumes therisk that restrictive covenants, zoning laws or other recorded documents may restrict or prohibit the use of the Property forthe purpose(s) intended by Buyer. In the event Seller is unable to give good and merchantable title or such as can beinsured by a Maryland licensed title insurer, with Buyer paying not more than the standard rate as filed with the MarylandInsurance Commissioner, Seller, at Seller’s expense, shall have the option of curing any defect so as to enable

33. CRIMINAL ACTIVITY AND SEXUAL OFFENDERS. Buyer may contact the state, county or municipal policedepartments in which the Property is located or check the “Sex Offender Registry” at the Maryland Department of PublicSafety and Correctional Services website in order to ascertain criminal activity in the vicinity of the Property or the presenceof registered sexual offenders who live or work within the vicinity of the Property. Buyer acknowledges that Buyer is solelyresponsible to inquire of such matters before signing this Contract. Buyer shall have no right to cancel this Contract basedupon criminal activity or the presence of registered sexual offenders in the vicinity of the Property. Buyer furtheracknowledges that no real estate licensee involved in the sale or purchase of the Property, whether acting as the agent forSeller or Buyer, has any duty nor assumes any duty or responsibility to ascertain criminal activity or the presence ofregistered sexual offenders in the vicinity of the Property.

Seller to give good and merchantable title or, if Buyer is willing to accept title without said defect being cured,

T7722361.ZFX

Owner

Highlight

Owner

Text Box

pg6


37.

38.

39.

40.

.41.

43.

42.


paying any special premium on behalf of Buyer to obtain title insurance on the Property to the benefit of Buyer. In the eventSeller elects to cure any defects in title, this Contract shall continue to remain in full force and effect; and the date ofsettlement shall be extended for a period not to exceed fourteen (14) additional days. If Seller is unable to cure such titledefect(s) and is unable to obtain a policy of title insurance on the Property to the benefit of Buyer from a Maryland licensedtitle insurer, Buyer shall have the option of taking such title as Seller can give, or terminating this Contract and beingreimbursed by Seller for cost of searching title as may have been incurred not to exceed 1/2 of 1% of the purchase price. Inthe latter event, there shall be no further liability or obligation on either of the parties hereto; and this Contract shall becomenull and void; and all Deposit(s) shall be disbursed in accordance with the Deposit(s) paragraph of this Contract. In noevent shall Broker(s) or their agent(s) have any liability for any defect in Seller’s title.


WETLANDS NOTICE: Buyer is advised that if all or a portion of the Property being purchased is wetlands, the approvalof the U.S. Army Corps of Engineers will be necessary before a building permit can be issued for the Property. Additionally,the future use of existing dwellings may be restricted due to wetlands. The Corps has adopted a broad definition ofwetlands which encompasses a large portion of the Chesapeake Bay Region. Other portions of the State may also beconsidered wetlands. For information as to whether the Property includes wetlands, Buyer may contact the BaltimoreDistrict of the U.S. Army Corps of Engineers. Buyer may also elect, at Buyer’s expense, to engage the services of aqualified specialist to inspect the Property for the presence of wetlands prior to submitting a written offer to purchase theProperty; or Buyer may include in Buyer’s written offer a clause making Buyer’s purchase of the Property contingent upon asatisfactory wetlands inspection.

HOMEOWNER’S ASSOCIATION: The Property is not part of a development subject to the imposition of mandatoryfees as defined by the Maryland Homeowner’s Association Act, unless acknowledged by attached addendum.

FOREIGN INVESTMENT TAXES-FIRPTA: Section 1445 of the United States Internal Revenue Code of 1986 providesthat a Buyer of residential real property located in the United States must withhold federal income taxes from the paymentof the purchase price if (a) the purchase price exceeds Three Hundred Thousand Dollars ($300,000.00) and (b) the seller isa foreign person. Unless otherwise stated in an addendum attached hereto, if the purchase price is in excess of ThreeHundred Thousand Dollars ($300,000.00), Seller represents that Seller is not a non-resident alien, foreign corporation,foreign partnership, foreign trust or foreign estate (as those terms are defined by the Internal Revenue Code and applicableregulations) and agrees to execute an affidavit to this effect at the time of settlement.

this transfer shall be paid by

AGRICULTURALLY ASSESSED PROPERTY: The Property, or any portion thereof, may be subject to an “AgriculturalLand Transfer Tax” as imposed by Section 13-301 et. seq. of the Tax-Property Article, Annotated Code of Maryland, byreason of the Property’s having been assessed on the basis of agricultural use. Agricultural taxes assessed as a result of

INTERNAL REVENUE SERVICE FILING: Buyer and Seller each agree to cooperate with the person responsible forsettlement by providing all necessary information so that a report can be filed with the Internal Revenue Service, asrequired by Section 6045 of the IRS Code. To the extent permitted by law, any fees incurred as a result of such filing will bepaid by the Seller.

MARYLAND NON-RESIDENT SELLER: If the Property is not the Seller’s principal residence and the Seller is anon-resident individual of the State of Maryland or is a non-resident entity which is not formed under the laws of the State ofMaryland or qualified to do business in the State of Maryland, a withholding tax from the proceeds of sale may be withheldat the time of settlement except as otherwise provided by Maryland law. (See Maryland Non-Resident Seller TransferWithholding Tax Addendum.)

GUARANTY FUND: NOTICE TO BUYER: BUYER IS PROTECTED BY THE REAL ESTATE GUARANTY FUND OFTHE MARYLAND REAL ESTATE COMMISSION FOR LOSSES COVERED BY SECTION 17-404 OF THE BUSINESSOCCUPATIONS AND PROFESSIONS ARTICLE OF THE MARYLAND CODE, IN AN AMOUNT NOT EXCEEDING$25,000 FOR ANY CLAIM.44. HOME AND/OR ENVIRONMENTAL INSPECTION, LIMITED WARRANTY: Buyer acknowledges, subject to Selleracceptance, that Buyer is afforded the opportunity, at Buyer’s sole cost and expense, to condition Buyer’s purchase of theProperty upon a Home Inspection and/or Environmental Inspection in order to ascertain the physical condition of theProperty or the existence of environmental hazards. If Buyer desires a Home Inspection and/or Environmental Inspectioncontingency, such contingency must be included in an Addendum to this Contract. Buyer and Seller acknowledge thatBrokers, agents or subagents are not responsible for the existence or discovery of property defects. NOTICE TO BUYER:IF A WARRANTY PLAN IS BEING OFFERED WITH THE PURCHASE OF THE PROPERTY, IT MAY BE A LIMITEDWARRANTY. SINCE SUCH WARRANTY PLANS DO NOT COVER STRUCTURAL DEFECTS AND MAY NOT COVERPRE-EXISTING DEFECTS, BUYER SHOULD REQUEST THE REAL ESTATE AGENT TO PROVIDE BUYER WITH ANYBROCHURE WHICH DESCRIBES THE PLAN IN ORDER TO DETERMINE THE EXTENT OF COVERAGE PROVIDEDBY THE WARRANTY.

Inspection(s) Addenda Attached Inspection(s) DeclinedBUYER BUYER BUYER BUYER

N/A

T7722361.ZFX

Owner

Highlight

Owner

Highlight

Owner

Highlight

Owner

Highlight

Owner

Highlight

Owner

Text Box

pg7


(BUYER) (BUYER) (SELLER) (SELLER)


45.


LEAD-BASED PAINT HAZARDS:A.

at Buyer’s expense, to conduct a risk assessment or inspection for the presence of lead-based paint and/orlead-based paint hazards unless Buyer waives such assessment or inspection by indicating such waiver on theLead-Based Paint Disclosure form. Notwithstanding the right of the Buyer under the Act to conduct a riskassessment inspection for presence of lead-based paint and/or lead-based paint hazards, Seller is not required bythe Act to permit Buyer, and Buyer shall have no right, to rescind this Contract based upon the results of suchinspection, even if the inspection reveals the presence of lead-based paint and/or lead-based paint hazards withinthe Property, unless otherwise provided in a written addendum to this Contract. (If applicable, see Lead-BasedPaint Hazard Inspection Addendum.) Seller and any agent involved in the transaction are required to retain a copyof the completed Lead-Based Paint Disclosure form for a period of three (3) years following the date of settlement.A SELLER WHO FAILS TO GIVE THE REQUIRED LEAD-BASED PAINT DISCLOSURE FORM AND EPA PAMPHLETMAY BE LIABLE UNDER THE ACT FOR THREE TIMES THE AMOUNT OF DAMAGES AND MAY BE SUBJECT TOBOTH CIVIL AND CRIMINAL PENALTIES.

FEDERAL LEAD-BASED PAINT LAW: Title X, Section 1018, the Residential Lead-Based Paint Hazard Reduction Actof 1992 (the Act), requires the disclosure of certain information regarding lead-based paint and lead-based paint hazards inconnection with the sale of residential real property. Unless otherwise exempt, the Act applies only to housing constructedprior to 1978. A Seller of pre-1978 housing is required to disclose to Buyer, based upon Seller’s actual knowledge, allknown lead-based paint hazards in the Property and provide Buyer with any available reports in the Seller’s possessionrelating to lead-based paint or lead-based paint hazards applicable to the Property. Seller, however, is not required toconduct or pay for any lead-based paint risk assessment or inspection. At the time that the offer to purchase is entered intoby Buyer, Seller is required to provide Buyer with the EPA pamphlet entitled “Protect Your Family From Lead In YourHome” and a “Disclosure of Information on Lead-Based Paint and Lead-Based Paint Hazards” form. Seller is requiredunder the Act to provide Buyer with a ten (10) day time period (or other mutually agreeable time period) for Buyer,

Seller represents and warrants to Buyer, Broker(s), Broker(s)’ agents and subagents, intending that they relyupon such warranty and representation, that the property:(Seller to initial applicable line): was constructed prior to 1978

OR was not constructed prior to 1978OR the date of construction is uncertain.

If the Property was constructed prior to 1978 or if the date of construction is uncertain, as indicated by Seller’s initial above,Buyer and Seller mutually agree that the requirements of the Act shall apply to the sale of the Property. Buyer and Selleracknowledge that the real estate brokers and salespersons involved in the sale of the Property have no duty to ascertain orverify the date of construction and assume no such duty or responsibility. Buyer and Seller agree, represent and warrant,each unto the other, that no binding and enforceable contract shall be deemed to exist or to have been formed unless therequirements of the Act have been complied with prior to the execution of this Contract by Buyer and Seller. Buyer andSeller represent and warrant that each intended, as a material term of the offer and acceptance, that the requirements ofthe Act be complied with as an express condition of the formation of a binding and enforceable contract by and between theparties.

B. MARYLAND LEAD POISONING PREVENTION PROGRAM: Under the Maryland Lead Poison Prevention Program(the “Maryland Program”), any residential dwelling constructed prior to 1950 which is leased for residential purposes isrequired to be registered with the Maryland Department of the Environment (MDE). Any residential dwelling constructedbetween 1950 and 1978 which is leased for residential purposes may be registered with the MDE at the election of theowner.

Buyer and Seller acknowledge by their respective initials below that they have read and understand the provisions ofParagraph 45A.

Seller hereby discloses that the property:1. (Seller to initial applicable line) is currently registered in the Maryland Program

is NOT currently registered in the MarylandProgram

If the Property was constructed prior to 1950 and Buyer intends to lease the Property effective immediatelyfollowing settlement or in the future, Buyer shall be required to register the Property with the MarylandDepartment of the Environment within thirty (30) days following the date of settlement or within thirty (30) daysfollowing the conversion of the Property to rental property as required by the Maryland Program. Buyer shall beresponsible for full compliance under the Maryland Program, including but not limited to, registration; inspections;lead-paint risk reduction and abatement procedures; payment of all fees, costs and expenses; and the noticerequirements to tenants as well as the requirements of qualified offers.

(BUYER)(BUYER)

Buyer acknowledges by Buyer's initials below that Buyer has read and understands the provisions of Paragraph45.B.1.

T7722361.ZFX

Owner

Highlight

Owner

Highlight

Owner

Highlight

Owner

Highlight

Owner

Highlight

Owner

Highlight

Owner

Text Box

XXX

Owner

Text Box

pg8



46.

.47.

48. ADDENDA: The Addenda marked below, which are hereby attached, are made a part of this Contract:

Affiliated Business Disclosure Notice Maryland Non-Resident Seller TransferWithholding Tax

Condominium Resale NoticeMold Inspection

Disclosure of Licensee StatusFirst-Time Maryland Home Buyer Transfer &

Notice to Buyer – Maryland Residential Real

Recordation Tax Addendum

Property Disclosure/Disclaimer ActOn-Site Sewage Disposal System Inspection

Homeowners Association NoticeProperty Inspections

Kickout AddendumLead-Based Paint Hazard Inspection

Purchase Price Escalation

Lead-Based Paint and Lead-Based HazardsDisclosure of Information

Seller’s Purchase of Another Property

Local City/County Certifications/RegistrationsThird Party Approval

Local City/County Notices/DisclosuresWater Quality Addendum

Other Addenda/Special Conditions:


2.

has; or has not occurredwhich obligates Seller to perform either the modified or full risk reduction treatment of the Property as requiredunder the Maryland Program. If an event has occurred which obligates Seller to perform either the modified or full

If such event has occurred, Seller (Seller to initial applicable line) will; orwill not perform the required treatment prior to transfer of title of the Property to Buyer.

(BUYER)(BUYER)

Cash/Conventional Financing AppraisalContingency Addendum

Sale, Financing, Settlement or Lease of OtherReal Estate

If the Property is already registered under the Maryland Program as indicated in Paragraph 45.B.1., Sellerfurther discloses to Buyer that an event as defined under the Maryland Program (including, but not limited to, noticeof the existence of lead-based paint hazards or notice of elevated blood lead levels from a tenant or state, local or

shall be paid by the

FOREST CONSERVATION AND MANAGEMENT PROGRAM: Buyer is hereby notified that this transfer may besubject to the Forest Conservation and Management Program imposed by Section 8-211 et. seq. of the Tax-PropertyArticle, Annotated Code of Maryland. Forest Conservation/Management program taxes assessed as a result of this transfer

FOREST CONSERVATION ACT NOTICE: If the Property is a tract of land 40,000 square feet or more in size, Buyer isnotified that, unless exempted by applicable law, as a prerequisite to any subdivision plan or grading or sediment controlpermit for the Property, Buyer will be required to comply with the provisions of the Maryland Forest Conservation Actimposed by Section 5-1601, et. seq. of the Natural Resources Article, Annotated Code of Maryland, including, among otherthings, the submission and acceptance of a Forest Stand Delineation and a Forest Conservation Plan for the Property inaccordance with applicable laws and regulations. Unless otherwise expressly set forth in an addendum to this Contract,Seller represents and warrants that the Property is not currently subject to a Forest Conservation Plan, ManagementAgreement or any other pending obligation binding the owner of the Property under said Act; further, Seller represents andwarrants that no activities have been undertaken on the Property by Seller in violation of the Forest Conservation Act.

municipal health agency) (Seller to initial applicable line)

risk reduction treatment of the Property, Seller hereby discloses the scope of such treatment as follows:

Buyer acknowledges by Buyer's initials below that he has read and understands the provisions of Paragraph45.B.2.

49. PARAGRAPH HEADINGS: The Paragraph headings of this Contract are for convenience and reference only, and in noway define or limit the intent, rights or obligations of the parties.

ENTIRE AGREEMENT: This Contract and any Addenda thereto contain the final and entire agreement between the50.parties, and neither they nor their agents shall be bound by any terms, conditions, statements, warranties orrepresentations, oral or written, not herein contained. The parties to this Contract mutually agree that it is binding uponthem, their heirs, executors, administrators, personal representatives, successors and, if permitted as herein provided,assigns. Once signed, the terms of this Contract can only be changed by a document executed by all parties. This

T7722361.ZFX

N/A

Condominium Addendum, Montgomery Jurisdictional ClauseAddendum, Addendum of Clauses, Post Occupancy Agreement,

X

X

X

X

X

Owner

Highlight

Owner

Highlight

Owner

Text Box

N/A

Owner

Text Box

N/A

Owner

Text Box

N/A

Owner

Text Box

N/A

Owner

Text Box

N/A

Owner

Text Box

pg9

of 10 10/05

51.

Buyer's Signature Date

Buyer's Signature Date

Seller's Signature

Seller's Signature

DATE OF CONTRACT ACCEPTANCE:

©Copyright 2005 Maryland Association of REALTORS®, Inc. For use by REALTOR® members of the Maryland Association of REALTORS® only. Except as negotiated by the parties tothe Contract, this form may not be altered or modified in any form without the prior expressed written consent of the Maryland Association of REALTORS®, Inc.



Date

Date

Contract shall be interpreted and construed in accordance with the laws of the State of Maryland. It is further agreed thatthis Contract may be executed in counterparts, each of which when considered together shall constitute the originalContract.

ELECTRONIC DELIVERY: The parties agree that this Contract offer shall be deemed validly executed and deliveredby a party if a party executes this Contract and delivers a copy of the executed Contract to the other party by telefax ortelecopier transmittal.

Mark Clark

Cynthia Clark

T7722361.ZFX

Owner

Highlight

Owner

Text Box

pg10

Montgomery County Jurisdictional Addendum to Sales Contract(Required For Use With MAR & Regional Contracts)

The Contract of Sale dated , AddressCity , State Zip Lot:

between Seller andBuyer is hereby amended bythe incorporation of this Addendum, which shall supersede any provisions to the contrary in the Contract.

1. Master Plan Disclosures. A or B required; use A unless property is in the City of Rockville corporate limits.A. Montgomery County

Buyer has the right to examine, prior to signing this Contract, the applicable County Master Plan and anymunicipal land use plan for the area in which the property is located and any adopted amendment to either plan,and approved official maps showing planned land uses, roads and highways, parks and other public facilitiesaffecting the property contained in the plan.

By signing this Addendum, Buyer acknowledges the following:a. Seller has offered the Buyer the opportunity to review the applicable Master Plan and municipal land use plan

and any adopted amendment;b. Seller has informed Buyer that amendments affecting the plan may be pending before the Planning Board or

the County Council or a municipal planning body;c. Buyer has reviewed each plan and adopted amendment or does hereby waive the right to review each plan

and adopted amendment; andd. Buyer understands that to stay informed of future changes in County and municipal land use plans, the Buyer

should consult the Planning Board and the appropriate municipal planning body.

Buyer Buyer-OR-

B. City Of RockvilleBuyer acknowledges that Buyer has been afforded the opportunity to examine the Approved and AdoptedLand Use Plan Map portion of the plan for the City of Rockville and all amendments to said Map (hereinafterreferred to as the “Plan”). Buyer further acknowledges that Seller's real estate agent has provided saidopportunity to examine the Plan by either producing and making available for examination a copy of the Planor escorting Buyer to a place where the Plan is available for examination by Buyer. Buyer acknowledges thatat no time did the agent explain to Buyer the intent or meaning of such Plan nor did Buyer rely on anyrepresentation made by the agent(s) pertaining to the applicable Plan.By signing below, the Buyer acknowledges that he has been afforded an opportunity to review the Plan.

Buyer Buyer

2. Transfer and Recordation Taxes. Section 14-104 of the Real Property Article of the Annotated Code of Marylandprovides that, unless otherwise negotiated in the contract or provided by state or local law, the cost of anyrecordation tax or any state or local transfer tax shall be shared equally between the buyer and seller. Transfer andrecordation taxes shall be paid by:First-Time Maryland Homebuyer Transfer and Recordation Tax Addendum Attached: Yes No

©2005, The Greater Capital Area Association of REALTORS®, Inc.This recommended form is the property of the Greater Capital Area Association of REALTORS®, Inc. and is for use by members only.

Previous editions of this form should be destroyed.

Page 1 of 6GCAAR Form # 1312 - MC Jurisdictional Addendum 10/2005

Block/Square: Unit: Section: Tax ID #Parking Space(s) # Storage Unit(s) # Subdivision/Project:


(Previously Form #1300A)

3816 Gawayne TerraceSilver Spring MD 20906


split 50% / 50% between purchaser and seller


Owner

Highlight

Owner

Highlight

Owner

Highlight

Owner

Text Box

pg11

3. Private Well and Septic. If the property is on well and/or septic system, the



Page 2 of 6GCAAR Form # 1312 - MC Jurisdictional Addendum 10/2005

Buyer, at Buyer's expense, ORSeller, at Seller's expense will:

A. Provide the Buyer on or before Settlement with a certificate, dated not more than 30 days prior to Settlement, from aprivate water testing laboratory certified by the Maryland Department of Health and Mental Hygiene that the wellwater is potable.Provide the Buyer on or before Settlement with a report, dated not more than 30 days prior to Settlement, from aprivate company, which has proof of having attended a course for septic testing approved by the MarylandDepartment of Environment, that the septic system is not malfunctioning, is functioning satisfactorily, or is inoperating condition.

B.

If either system does not meet the requirements of A or B above, the Seller, at Seller's expense, will take appropriateremedial action to rectify the deficiency and provide the Buyer with above required documents outlined in A and Bon or before Settlement.

C.

4. Notices. All notices under the contract shall be in writing. Notices to the Seller shall be effective when delivered to theSeller or an Agent of the Seller named in the contract (including a Dual Agent, Intra-Company Agent, or DesignatedRepresentative assigned to the Seller, as applicable, or alternatively, to the Agent's Supervising Manager.) Notices to theBuyer shall be effective when delivered to the Buyer or an Agent of the Buyer named in the contract (including a DualAgent, Intra-Company Agent, or Designated Representative assigned to the Buyer, as applicable, or alternatively, to theAgent's Supervising Manager). "Purchaser" means "Buyer" and vice versa. "Delivery" means hand carried, sent byovernight delivery service, sent by wired or electronic medium which produces a tangible record of the transmission(such as telegram, mailgram, telecopier or "Fax", email which includes an attachment with an actual copy of theexecuted instruments being transmitted, or U.S. Postal mailing.) In the event of overnight delivery service, Delivery willbe deemed to have been made on the next business Day (Monday through Friday-excluding federal holidays) followingthe sending, unless earlier receipt is acknowledged in writing. In the event of U.S. Postal mailing, Delivery will bedeemed to have been made on the third business Day (Monday through Saturday, excluding federal holidays) followingthe mailing, unless earlier receipt is acknowledged in writing. "Day" or "Days" means calendar days unless otherwisespecified. For the purpose of computing time periods, the first Day will be the Day following Delivery, and the timeperiod will end at 9 p.m. on the Day specified. The provisions of this paragraph regarding delivery of notices shall alsobe applicable to delivery of resale packages for condominiums cooperatives and/or homeowners associations as may berequired in a separate addendum.

5. Cooperative/Condominium Association Approval. If this sale is subject to the approval or right of first refusal of theCouncil of Unit Owners or Board of Directors of the Cooperative/Condominium, then Seller agrees to immediatelypresent this Contract to such Council or Board for their action or consideration. In the event this sale is disallowed by theappropriate Cooperative/Condominium authority, this Contract shall be null and void, and Buyer's deposit shall berefunded when an “Agreement of Release” is signed or in accordance with the provisions of the Contract.

6. Buyer Agent. The Seller and Buyer acknowledge that the signature of the Buyer's agent below indicates that the Brokerhas accepted the offer of compensation to Buyer brokers made through the multiple listing service.

Broker: By: (Buyer Agent)

7. Foreign Investment Taxes-FIRPTA. Section 1445 of the United States Internal Revenue Code of 1986 provides that aBuyer of a residential real property located in the United States must withhold federal income taxes from the payment ofthe purchase price if (a) the purchase price exceeds Three Hundred Thousand Dollars ($300,000.00) or the purchase priceis less than or equal to Three Hundred Thousand Dollars ($300,000.00) and the property will not be owner occupied, and(b) Seller is a foreign person for purposes of U.S. income taxation. A foreign person includes, but is not limited to, anon-resident alien, foreign corporation, foreign partnership, foreign trust or foreign estate (as those terms are defined bythe Internal Revenue Code and applicable regulations). Seller represents that Seller is not a foreign person and agrees toexecute an affidavit to this effect at the time of Settlement.

8. Void Contract. If this Contract becomes void, all principals will immediately execute a release directing that the Depositbe refunded in full to the Buyer according to the terms of the DEPOSIT paragraph. Except with respect to disbursementof the deposit at Settlement hereunder, the deposit and accrued interest, if any, shall be given or returned by escrow agentto any of the principals to this transaction only when an “Agreement of Release” has been ratified by all principals, asdirected by a court order, or pursuant to Section 17-505(b), Business Occupations and Professions Article, Annotated

Produced with ZipForm™ by RE FormsNet, LLC 18025 Fifteen Mile Road, Clinton Township, Michigan 48035 www.zipform.com(Previously Form #1300A)

T7722361.ZFX

Owner

Highlight

Owner

Highlight

Owner

Text Box

pg12

9. General Provisions.


Previous editions of this form should be destroyed.Page 3 of 6GCAAR Form # 1312 - MC Jurisdictional Addendum 10/2005

A. If not previously paid, the party making Settlement is hereby irrevocably authorized and directed to deduct and paythe brokerage fee(s) or compensation to the broker(s) from the proceeds of sale in accordance with a separate listingcontract or agency representation agreement and with the multiple listing service offer of compensation tocooperating agents and Buyer brokers as of the “Date of Offer.”In the event Settlement shall fail to occur within the time herein set forth, the broker(s) shall still be entitled tobrokerage fee(s) referenced above.

B.

The Buyer acknowledges that Buyer has worked with no other agent on this property other than the agent(s) namedherein.

C.

10.

In the event of forfeiture or default, Broker shall receive as compensation for services, an amount specified inaccordance with the appropriate brokerage agreement.

D.

The principals to the Contract mutually agree that the provisions hereof shall survive the execution and delivery ofthe deed herein and shall not be merged herein.

E.

THE FOLLOWING PARAGRAPHS (10-13) APPLY ONLY TO THE MAR CONTRACT:

Performance.A. Settlement is to be conducted by the office of the attorney or the title company examining the title.B. Delivery to the attorney or to the title company of the cash payment and Settlement costs as herein stated, the

executed deed of conveyance and such other papers as required of either party by the terms of this Contract shall beconsidered good and sufficient tender or performance in accordance with the terms hereof.

C. It is agreed that funds arising out of this transaction at Settlement shall be used to pay off any existing encumbrances,including interest, as required by lender(s) or lien holders.Seller agrees to pay a reasonable closing fee for services rendered to the Seller.D.

11. Loan Application And Approval. TIME IS OF THE ESSENCE WITH REGARD TO PARAGRAPH 11.A. Financing Application. The Buyer will make written application for the financing or assumption called for in this

Contract (“Specified Financing”) within 7 days after Date of Ratification. The Buyer grants permission for the sellingbroker and the lender to disclose to the listing broker and the Seller general information available about the progressof the loan application and loan approval process.

B. Lender's Approval Contingency. This Contract is contingent until 9 p.m. Days after Date ofRatification (“Deadline”) upon the Buyer delivering to the Seller a letter from the lender stating that the Buyer isapproved for the Specified Financing (“Lender's Letter”). Upon Seller's receipt of the Lender's Letter, this Contract isno longer contingent on the Buyer being approved for the Specified Financing and this Contract will remain in fullforce and effect:

(i) If the Buyer does not deliver the Lender's Letter by the Deadline, the Lender's Approval Contingency willcontinue, unless the Seller at Seller's option gives notice to Buyer that this Contract will become void. If theSeller delivers such notice this Contract will become void at 9 p.m. on the third day following delivery ofSeller's notice unless prior to that date and time:

a. Buyer delivers to Seller the Lender's Letter; ORb. Buyer removes this Lender's Approval Contingency and provides Seller with evidence of sufficient

funds available to complete Settlement without obtaining financing.(ii) The Buyer may substitute alternative financing for Specified Financing provided:

a. There is no additional expense to the Seller; andb. The Settlement Date is not delayed.

(iii) If prior to satisfaction or removal of the Lender's Approval Contingency the Buyer receives a writtenrejection for the Specified Financing and delivers a copy of the written rejection to the Seller, this Contractwill become void.

Code of Maryland. If either Buyer or Seller refuses to execute a release of the deposit when requested to do so in writingand a court finds that that party should have executed same, that party shall be required to pay, in addition to anydamages, all expenses, including reasonable attorney's fees, incurred by the adverse party in the litigation.

Produced with ZipForm™ by RE FormsNet, LLC 18025 Fifteen Mile Road, Clinton Township, Michigan 48035 www.zipform.com(Previously Form #1300A)

T7722361.ZFX

Owner

Text Box

pg13

Owner

Line

C. Default. The Buyer will be in default if Settlement does not occur on the Settlement Date because the Buyer:



Page 4 of 6 10/2005

(i) Fails to lock in the interest rate(s) specified in the Contract and the rate(s) increase so that the Buyer no longerqualifies for such financing; OR

(iii) Fails to comply with the lender's reasonable requirements in a timely manner; OR

12. Settlement Entity. Buyer hereby authorizes the undersigned agent to order the examination of title and the preparation

13.

(ii) Applies for, and fails to obtain, alternative financing instead of the Specified Financing, unless the Sellerconsents in writing to the alternative financing terms, in which case the alternative financing becomes theSpecified Financing; OR

(iv) Fails to immediately give Notice to the Seller or the Broker of any material adverse changes in the Buyer'sassets, liabilities, or income; OR(v) Does not have the down payment, closing fees and any other funds to settle as provided in this Contract; OR(vi) Does or fails to do any act following the Date of Ratification that prevents the Buyer from obtaining thefinancing; OR(vii) Makes any deliberate misrepresentations, material omissions or inaccuracies in financial information thatresult in the Buyers inability to secure the financing.

D. General Provisions. Buyer hereby authorizes agent to disclose and deliver to Seller or any lender the creditinformation provided to agent by Buyer. In the event the Buyer will assume Seller's mortgage loan, interest, insuranceand escrows on existing encumbrances shall be prorated to the date of Settlement. In the event there is any increase inthe loan origination or discount fees, then Buyer agrees to pay any increase in said fees. At the Buyer's solediscretion, the loan origination or discount fees agreed to be paid by Seller may be converted to an equivalent dollarcredit, which shall be applied as directed by Buyer and as allowed by lender. Seller agrees to comply with reasonablelender requirements.

of all necessary conveyance documents through .

Disputes. In the event of any dispute between Seller and broker(s) and/or Buyer and broker(s) resulting in broker(s) orany agents, subagents or employees of broker(s) being made a party to such dispute including, but not limited to, anylitigation, arbitration, or complaint and claim before the Maryland Real Estate Commission, whether as defendant,cross-defendant, third-party defendant or respondent, Seller and Buyer, jointly and severally, agree to indemnify andhold broker(s) and any agents, subagents and employees of broker(s) harmless from any liability, loss, cost, damage orexpense (including filing fees, court costs, service of process fees, transcript fees and attorneys' fees), resultingtherefrom, provided that such dispute does not result in a judgment or decision against broker(s), broker(s)' agents,subagents or employees for acting improperly.

THE FOLLOWING PARAGRAPHS (14-21) APPLY ONLY TO THE REGIONAL CONTRACT:

14. Settlement Costs. NOTICE TO BUYER. Buyer has the right to select Buyer's own title insurance company, title lawyer,settlement company, escrow company, mortgage lender or financial institution as defined in the Financial InstitutionsArticle, Annotated Code of Maryland. Buyer acknowledges that Seller may not be prohibited from offering ownerfinancing as a condition of settlement.

15. Seller Responsibility. Seller agrees to keep existing mortgages free of default until Settlement. All violations ofrequirements noted or issued by any governmental authority, or actions in any court on account thereof, against oraffecting the Property at the date of Settlement of this Contract, shall be complied with by the Seller and the Propertyconveyed free thereof.

16. Single Family Residential Real Property Disclosure Notice. Maryland buyers are advised of the right to receive aDisclosure and Disclaimer Statement from seller unless exempt (Section 10-702 Real Property Artricle, Anotated Codeof Maryland).


GCAAR Form # 1312 - MC Jurisdictional Addendum(Previously Form #1300A)

TBD or....

T7722361.ZFX

Owner

Text Box

pg14

17. Wetlands Notice. The Buyer is advised that if all or a portion of the Property being purchased is wetlands, the approvalof the U.S. Army Corps of Engineers will be necessary before a building permit can be issued for the Property.Additionally, the future use of existing dwellings may be restricted due to wetlands. The Corps has adopted a broaddefinition of wetlands, which encompasses a large portion of the Chesapeake Bay Region. Other portions of the Statemay also be considered wetlands. For information as to whether the Property includes wetlands, Buyer may contact theBaltimore District of the U.S. Army Corps of Engineers. Buyer may also elect, at Buyer's expense, to engage the servicesof a qualified specialist to inspect the Property for the presence of wetlands prior to submitting a written offer to purchasethe Property, or Buyer may include in Buyer's written offer, subject to the Seller's acceptance, a clause making Buyer'spurchase of the Property contingent upon a satisfactory wetlands inspection.


Previous editions of this form should be destroyed.Page 5 of 6 10/2005

21.

19. Home And/Or Environmental Inspection. Buyer acknowledges, subject to Seller acceptance, that Buyer is afforded theopportunity, at Buyer's sole cost and expense, to condition Buyer's purchase of the Property upon a Home Inspectionand/or Environmental Inspection in order to ascertain the physical condition of the Property or the existence ofenvironmental hazards. If Buyer desires a Home Inspection and/or Environmental Inspection contingency, suchcontingency must be included in an Addendum to this Contract at the time it is signed by Buyer. Buyer acknowledgesthat neither the brokers and/or their agents nor subagents are responsible for property defects.

Guaranty Fund. Notice To Buyer. The Buyer is protected by the real estate Guaranty Fund of the Maryland Real EstateCommission for losses covered by Section 17-404 of the Business Occupations and Professions Article of the MarylandCode of Annotated in an amount not exceeding $25,000 for any claim.

18.

Addenda AttachedBuyer's Initials

Inspections DeclinedBuyer's Initials

Notice To The Parties. Brokers, their agents, subagents and employees do not assume any responsibility for thecondition of the Property or for the performance of the Contract by any or all parties hereto. By signing this Contract,Buyer and Seller acknowledge that they have not relied on any representations made by the brokers, or any agents,subagents or employees of the brokers, except those representations expressly set forth in this Contract. Further, thebrokers, their agents, subagents and employees, make no representations nor assume any responsibility with respect tothe following:A. Condition of real or personal property.B. Water quality, color or taste or operating conditions of private water systems.C. Location, size or operating condition of private septic systems.D. The extensions of public utilities by local municipal authorities, existence or availability of public utilities, and any

assessments, fees or costs for public utilities which might be imposed by local municipal authorities, should publicutilities be extended or available to the subject Property. (The Buyer should consult the Department of Public Worksto determine the availability of proposed future extensions of utilities.)

E. Lot size and exact location. If the subject Property is part of a recorded subdivision, the Buyer can review the platupon request at the Maryland National Capital Park and Planning Commission or the Circuit Court, Clerk's Office. Ifthe subject Property is not part of a recorded subdivision, the Buyer may verify exact size and location through asurvey by a registered engineer or a land surveyor, at Buyer's expense.

F. Existing zoning or permitted uses of the Property. Buyer should verify with the Zoning Office and/or a licensedengineer to determine zoning and permitted uses.

G. Certain other issues including, without limitation: soil conditions; flood hazard areas; possible restrictions of the useof property due to restrictive covenants, subdivision, environmental laws, easements or other documents; airport oraircraft noise; planned land use, roads or highways; and construction materials and/or hazardous materials, includingwithout limitation flame retardant treated plywood (FRT), radon, mold, urea formaldehyde foam insulation (UFFI),asbestos, and lead-based paint. Information relating to these issues may be available from appropriate governmentalauthorities. This disclosure is not intended to provide an inspection contingency.



20. Critical Areas Addendum. Buyer is advised that all or a portion of the property may be located in the "Critical Area" ofthe Chesapeake and Atlantic Coastal Bays, and that additional zoning, land use, and resource protection regulationsapply in this area. The "Critical Area" generally consists of all land and water areas within 1,000 feet beyond thelandward boundaries of state or private wetlands, the Chesapeake Bay, the Atlantic Coastal Bays, and all their tidaltributaries. The "Critical Area" also includes the waters of and lands under the Chesapeake Bay, the Atlantic CoastalBays and all of their tidal tributaries to the head of the tide. For information as to whether the property is located withinthe Critical Area, Buyer may contact the local Department of Planning and Zoning, which maintains maps showing theextent of the Critical Area in the jurisdiction. Allegany, Carroll, Frederick, Garrett, Howard, Montgomery andWashington Counties do not include land located in the Critical Area.

T7722361.ZFX

Owner

Highlight

Owner

Highlight

Owner

Highlight

Owner

Highlight

Owner

Text Box

pg15

22. Deposit. Buyer hereby authorizes and directs broker as specified in this Contract to hold the initial deposit instrumentwithout negotiation or deposit until the parties have executed and accepted this Contract. Upon acceptance, the initialdeposit and additional deposit, if any, shall be placed in escrow as provided below and in accordance with therequirements of Section 17-502(b)(1), Business Occupations and Professions Article, Annotated Code of Maryland. IfSeller does not execute and accept this Contract, the initial deposit instrument shall be promptly returned to Buyer.Brokers may charge a fee for establishing an interest-bearing account. Buyer and Seller instruct broker to place alldeposit monies in: (Check One)


Previous editions of this form should be destroyed.Page 6 of 6 10/2005

A non interest-bearing account.OR

Seller Date Buyer Date


. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .For Information Purposes Only:

Seller's address Buyer's address

Seller's telephone number Buyer's telephone number

Seller's facsimile number Buyer's facsimile number

Seller's email address Buyer's email address

Buyer.An interest-bearing account, the interest on which, in absence of default by Buyer, shall accrue to the benefit of



X

Mark Clark

Cynthia Clark

T7722361.ZFX

Owner

Highlight

Owner

Highlight

Owner

Text Box

pg16

The Contract of Sale dated

Condominium Resale Addendum for Maryland(For use with either the Maryland Association of REALTORS® (MAR) Residential Contract of Sale

, AddressCity , State Zip

1. CONDITION OF THE PROPERTY AND POSSESSION/EQUIPMENT, MAINTENANCE AND CONDITION:Paragraph is amended to provide that the Seller's warranty applies only to appliances, systems, equipment and detectors that arenot the responsibility of the Unit Owners' Association to maintain.

©2005 The Greater Capital Area Association of REALTORS®, Inc.This Recommended Form is the property of The Greater Capital Area Association of REALTORS®, Inc. and is for use by members only.

Previous editions of this Form should be destroyed.

GCAAR Form # 1328 - MD - Condo Addendum Page 1 of 3 10/2005

Lot:


Block/Square: Unit: Section: Tax ID #Parking Space(s) # Storage Unit(s) # Subdivision/Project:between Seller andBuyer is hereby amended by theincorporation of this Addendum, which shall supersede any provisions to the contrary in the Contract.

2. DEED AND TITLE/TITLE: Paragraph is amended to include the agreement of the Buyer to take title subject to commonlyacceptable easements, covenants, conditions and restrictions of record contained in Condominium instruments, and the right ofother Unit owners in the Common Elements and the operation of the Condominium.

3. ASSESSMENTS: Buyer agrees to pay such monthly and/or other assessments as the Board of Directors or Association ofthe Condominium may from time to time assess against the Unit for the payment of operating and maintenance or other propercharges. Said monthly assessments as of the date hereof amount respectively to:

A. Monthly Condominium Fee: Buyer is hereby advised and acknowledges that the present condominium fee for thesubject unit and parking space or storage unit, if applicable, is $ .

B. Special Assessments (if any): In addition to the monthly fee above, the Buyer hereby acknowledges the followingexisting or levied but not yet collected special assessments:

1) Reason for Assessment:2) Payment Schedule: $ per .3) Number of payments remaining as of

(Date).

Total Special Assessment balance remaining: $

The Seller agrees to pay at the time of settlement OR Buyer agrees to assume any existing or levied but not yetcollected special assessments.

(Formerly #1304E)

.

or the Regional Sales Contract)


Re/Max Realty Centre, Inc 3300 Olney Sandy Spring Road, Olney Md 20832301-774-1415 240-371-0087 Ann Joliet Pre-written co

32 161301627513Georgian Colonies


Owner

Text Box

$245.

Owner

Text Box

pg17

Owner

Text Box

N/A

Owner

Text Box

N/A

Owner

Text Box

N/A

Owner

Text Box

x

Owner

Text Box

N/A

Owner

Text Box

N/A

4. NOTICE (APPLIES ONLY TO A CONDOMINIUM WITH 7 OR MORE UNITS): The following notice is applicable only to the resale by a unit owner, other than a developer, of a residential unit in acondominium containing 7 or more units.





(Formerly #1304E)

THE SELLER IS REQUIRED BY LAW TO FURNISH TO THE BUYER NOT LATER THAN FIFTEEN (15) DAYS PRIOR TOCLOSING THE CERTAIN INFORMATION CONCERNING THE CONDOMINIUM WHICH IS DESCRIBED 1N § 11-135 OFTHE MARYLAND CONDOMINIUM ACT. THIS INFORMATION MUST INCLUDE AT LEAST THE FOLLOWING:

(I) A COPY OF THE DECLARATION (OTHER THAN THE PLATS);(II) A COPY OF THE BY-LAWS;(III) A COPY OF THE RULES AND REGULATIONS OF THE CONDOMINIUM;(IV) A CERTIFICATE CONTAINING;

1. A STATEMENT DISCLOSING THE EFFECT ON THE PROPOSED CONVEYANCE OF ANY RIGHTOF FIRST REFUSAL OR OTHER RESTRAINT ON THE FREE ALIENABILITY OF THE UNIT, OTHER THAN ANYRESTRAINT CREATED BY THE UNIT OWNER;

2. A STATEMENT OF THE AMOUNT OF THE MONTHLY COMMON EXPENSE ASSESSMENTAND ANY UNPAID COMMON EXPENSE OR SPECIAL ASSESSMENT CURRENTLY DUE AND PAYABLE FROM THESELLING UNIT OWNER;

3. A STATEMENT OF ANY OTHER FEES PAYABLE BY THE UNIT OWNER TO THE COUNCILOF UNIT OWNERS;

4. A STATEMENT OF ANY CAPITAL EXPENDITURES APPROVED BY THE COUNCIL OF UNITOWNERS OR ITS AUTHORIZED DESIGNEE PLANNED AT THE TIME OF CONVEYANCE WHICH ARE NOTREFLECTED IN THE CURRENT OPERATING BUDGET INCLUDED IN THE CERTIFICATE;

5. THE MOST RECENTLY PREPARED BALANCE SHEET AND INCOME AND EXPENSESTATEMENT, IF ANY, OF THE CONDOMINIUM;

6. THE CURRENT OPERATING BUDGET OF THE CONDOMINIUM, INCLUDING DETAILSCONCERNING THE AMOUNT OF THE RESERVE FUND FOR REPAIR AND REPLACEMENT AND ITS INTENDED USE,OR A STATEMENT THAT THERE IS NO RESERVE FUND;

7. A STATEMENT OF ANY JUDGMENTS AGAINST THE CONDOMINIUM AND THE EXISTENCEOF ANY PENDING SUITS TO WHICH THE COUNCIL OF UNIT OWNERS IS A PARTY;

8. A STATEMENT GENERALLY DESCRIBING INSURANCE POLICIES PROVIDED FOR THEBENEFIT OF THE UNIT OWNERS, A NOTICE THAT THE POLICIES ARE AVAILABLE FOR INSPECTION STATINGTHE LOCATION AT WHICH THEY ARE AVAILABLE, AND A NOTICE THAT THE TERMS OF THE POLICY PREVAILOVER THE GENERAL DESCRIPTION;

9. A STATEMENT AS TO WHETHER THE COUNCIL OF UNIT OWNERS HAS KNOWLEDGETHAT ANY ALTERATION OR IMPROVEMENT TO THE UNIT OR TO THE LIMITED COMMON ELEMENTS ASSIGNEDTO THE UNIT VIOLATES ANY PROVISION OF THE DECLARATION, BY-LAWS, OR RULES OR REGULATIONS;

10. A STATEMENT AS TO WHETHER THE COUNCIL OF UNIT OWNERS HAS KNOWLEDGE OFANY VIOLATION OF THE HEALTH OR BUILDING CODES WITH RESPECT TO THE UNIT, THE LIMITED COMMONELEMENTS ASSIGNED TO THE UNIT, OR ANY OTHER PORTION OF THE CONDOMINIUM;

11. A STATEMENT OF THE REMAINING TERM OF ANY LEASEHOLD ESTATE AFFECTINGTHE CONDOMINIUM AND THE PROVISIONS GOVERNING ANY EXTENSION OR RENEWAL OF IT; AND

12. A DESCRIPTION OF ANY RECREATIONAL OR OTHER FACILITIES WHICH ARE TO BEUSED BY THE UNIT OWNERS OR MAINTAINED BY THEM OR THE COUNCIL OF UNIT OWNERS, AND ASTATEMENT AS TO WHETHER OR NOT THEY ARE TO BE A PART OF THE COMMON ELEMENTS; AND

(V) A STATEMENT BY THE UNIT OWNER AS TO WHETHER THE UNIT OWNER HAS KNOWLEDGE:1. THAT ANY ALTERATION TO THE UNIT OR TO THE LIMITED COMMON ELEMENTS ASSIGNED

TO THE UNIT VIOLATES ANY PROVISION OF THE DECLARATION, BY-LAWS, OR RULES AND REGULATIONS;2. OF ANY VIOLATION OF THE HEALTH OR BUILDING CODES WITH RESPECT TO THE UNIT

OR THE LIMITED COMMON ELEMENTS ASSIGNED TO THE UNIT;3. THAT THE UNIT IS SUBJECT TO AN EXTENDED LEASE UNDER § 11-137 OF THIS TITLE OR

UNDER LOCAL LAW, AND IF SO, A COPY OF THE LEASE MUST BE PROVIDED.

Pre-written co

Owner

Text Box

pg18

5. NOTICE (APPLIES ONLY TO A CONDOMINIUM WITH FEWER THAN 7 UNITS): The following notice is applicable only to the resale by a unit owner, other than a developer, of a residential unit incondominium containing less than 7 units.





(Formerly #1304E)

THE SELLER IS REQUIRED BY LAW TO FURNISH TO THE BUYER NOT LATER THAN FIFTEEN (15) DAYS PRIORTO CLOSING CERTAIN INFORMATION CONCERNING THE CONDOMINIUM WHICH IS DESCRIBED IN § 11-135 OFTHE MARYLAND CONDOMINIUM ACT. THIS INFORMATION MUST INCLUDE AT LEAST THE FOLLOWING:

(1) A COPY OF THE DECLARATION (OTHER THAN THE PLATS);(2) A COPY OF THE BY-LAWS;(3) A COPY OF THE RULES AND REGULATIONS OF THE CONDOMINIUM; AND(4) A STATEMENT BY THE SELLER OF HIS EXPENSES RELATING TO THE COMMON ELEMENTSDURING THE PRECEDING 12 MONTHS.

6. RIGHT TO CANCEL: Buyer shall have the right for a period of seven (7) days following Buyer's receipt of thecondominium documents and statements referred to in Paragraph 4 or 5, as applicable, to cancel this Contract by givingNotice thereof to Seller. In the event that such condominium documents and statements are delivered to Buyer on or priorto the ratification of this Contract by Buyer, such seven (7) day period shall commence upon ratification of this Contract. Ifthe condominium documents and statements are not delivered to Buyer within the 15 day time period referred to inParagraph 4 or 5, as applicable, Buyer shall have the option to cancel this Contract by giving Notice thereof to Seller priorto receipt by Buyer of such condominium documents and statements. Pursuant to the provisions of this paragraph, in noevent may the Buyer have the right to cancel this Contract after Settlement.



Pre-written co

Mark Clark

Cynthia Clark

Owner

Highlight

Owner

Highlight

Owner

Text Box

pg19


Addendum of ClausesFOR USE WITH EITHER THE MARYLAND ASSOCIATION OF REALTORS® (MAR) RESIDENTIAL CONTRACT OF SALE

OR THE REGIONAL SALES CONTRACT

, AddressCity , State ZipSellerBuyeris hereby amended by the incorporation of this Addendum, which shall supersede any provisions to the contrary in the Contract.

1. HOME INSPECTION CONTINGENCY. This Contract is contingent until 9 p.m. on the Day after the Date of Ratification("Deadline") for inspections of the property, not including radon or lead-based paint inspections, which require separate contingencies, by theBuyer, a home inspection firm and/or other representative(s) at the Buyer's discretion and expense. The Seller will have all utilities in service atthe time of inspection(s). This contingency will terminate at the Deadline unless by the Deadline the Buyer Delivers to the Seller either A or B:

A. A copy of the report(s) from the inspection(s) of the property together with a Home Inspection Notice (see GCAAR Home InspectionNotice) listing home inspection conditions or items that the Buyer requires the Seller to repair, and/or stipulating a dollar credit, as allowedby the lender, to be paid at settlement by the Seller toward the Buyer's charges to buy the property.

If the Seller elects not to perform in accordance with the Home Inspection Notice or makes another offer, the Seller will Deliver notice tothe Buyer of such decision within 3 Days after Delivery of the Home Inspection Notice.

Within 3 Days after Delivery of a notice from the other party, the other party may:

(i) Deliver notice accepting the terms contained in the other party's notice; or(ii) Deliver notice continuing negotiations by making another offer; or(iii) Deliver notice that this Contract will become void at 9 p.m. on the 3rd Day following Delivery, unless the recipient Delivers

to the other party Notice of the acceptance of the last Delivered offer prior to that date and time, in which case this Contractwill remain in full force and effect.

Failure of either party to respond within 3 Days after Delivery of Notice from the other party will result in acceptance by both parties of theterms of the most recent Notice.

B. Notice declaring this Contract void.

2. GENERAL INSPECTION CONTINGENCY. This Contract is contingent until 9 p.m. on the Day after the Date ofRatification ("Deadline") for satisfactory inspections of the property by the Buyer, a home inspection firm and/or other representative(s) at theBuyer's discretion and expense. The Seller will have all utilities in service at the time of inspection(s). In the event of an unsatisfactoryinspection, as determined by Buyer in his sole discretion, Buyer may, by Notice to Seller, declare this contract null and void in which caseBuyer's deposit shall be refunded in full. In the event such Notice is not given by the Deadline, this contract will remain in full force andeffect.



GCAAR Form # 1332 - MC & DC 1 of 6 10/2005

betweenand

It is expressly provided that only the numbered paragraphs which are checked and initialed by all Parties shall be made a part of saidcontract. TIME IS OF THE ESSENCE WITH REGARD TO EACH PROVISION OF THIS ADDENDUM WHICH CONTAINSTIMEFRAMES.

3. "AS IS" PROPERTY CONDITION. The Property, including but not limited to electrical, plumbing, heating, air conditioning, equipmentand fixtures ("the Property"), is sold and shall be delivered in "As Is" physical condition, to be determined as of theDate of Ratification, the Date of the Home Inspection or (other) .

The Seller makes no representation or warranty, express or implied, as to the condition of the Property or any equipment or System containedtherein. All clauses in this Contract pertaining to Property condition, termites or compliance with city, state or county regulations are herebydeleted from this Contract. Smoke detectors will be installed as required by the laws or regulations of the appropriate jurisdiction. The propertyshall be delivered free and clear of trash and debris and broom clean.





Owner

Text Box

pg20

4. RADON INSPECTION CONTINGENCY. This Contract is contingent until 9 p.m. on the Day after the Date of Ratification("Deadline") to allow the Buyer, at the Buyer's discretion and expense, to have the property inspected for the presence of radon by a TestingFirm listed with the U.S. Environmental Protection Agency ("EPA"), National Radon Safety Board ("NRSB"), or the National EnvironmentalHealth Association ("NEHA") using an EPA approved testing method. Testing device to be placed and retrieved by an EPA, NRSB orNEHA listed technician or their authorized subcontractor. This contingency will terminate at the Deadline unless by the Deadline, theBuyer Delivers to the Seller a copy of the radon testing report which confirms the presence of radon that equals or exceeds the action levelestablished by the EPA together with either A or B:

A. Radon Testing Notice requiring the Seller at Seller's expense prior to settlement to remediate the radon condition by contracting with anEPA, NRSB or NEHA listed remediation firm to reduce the presence of radon below the action level established by the EPA and to provideBuyer written verification that the required remediation has been performed.

(i) Deliver notice accepting the terms contained in the other party's notice; or(ii) Deliver notice continuing negotiations by making another offer; or(iii) Deliver notice that this Contract will become void at 9 p.m. on the 3rd Day following Delivery, unless the recipient delivers

to the other party notice of the acceptance of the last Delivered offer prior to that date and time, in which case this Contractwill remain in full force and effect.



Previous editions of this Form should be destroyed.GCAAR Form # 1332 - MC & DC 2 of 6 10/2005

If the Seller elects not to perform in accordance with the Radon Testing Notice or makes another offer, the Seller will Deliver notice to theBuyer of such decision within 3 Days after Delivery of the Radon Testing Notice.

Within 3 Days after Delivery of a notice from one party, the other party may:

Failure of either party to respond within 3 Days after Delivery of a Notice from the other party will result in acceptance by both parties of theterms of the most recent notice.

5. LEAD-BASED PAINT INSPECTION CONTINGENCY This Contract is contingent until 9 p.m. on the Day after the Date of Ratification (must be 10 days or such other period as shall be mutually agreeable to the Buyer and Seller) ("Deadline") to allowBuyer, at Buyer's discretion and expense, to have a risk assessment or inspection of the interior and exterior of the subject property for thepresence of lead paint and/or lead-based paint hazards ("Inspection"). Such Inspection shall be performed by an individual certified by theMaryland Department of the Environment ("MDE"), for Maryland properties, or the DC Department of Health Lead Based Paint Program, forDC Properties, to conduct such assessment or inspection ("Certified Inspector"). This contingency will terminate at the Deadline unless by theDeadline, Buyer Delivers to Seller a copy of the risk assessment report or inspection report which reveals conditions for which the CertifiedInspector recommends corrective action together with either A or B.

A. Lead-Based Paint Testing Notice identifying specific lead based paint hazards and requiring Seller at Seller's expense prior to settlement toperform requisite corrective action to abate such lead based paint hazards. In the event Seller agrees to have the corrective action performed,Seller shall furnish, not later than the date of settlement, a written certification by a Certified Inspector demonstrating that the specifiedconditions have been remedied.

If Seller elects not to perform in accordance with the Lead Based Paint Notice or makes another offer, Seller will Deliver notice to Buyer ofsuch decision within 3 Days after Delivery of the Lead Based Paint Notice.

Within 3 Days after Delivery of a notice from one party, the other party may:(i) Deliver notice accepting the terms contained in the other party's notice; or(ii) Deliver notice continuing negotiations by making another offer; or(iii) Deliver notice that this Contract will become void at 9 p.m. on the 3rd Day following Delivery, unless the recipient delivers

to the other party notice of the acceptance of the last Delivered offer prior to that date and time, in which case this Contractwill remain in full force and effect.

Failure of either party to respond within 3 Days after Delivery of a Notice from the other party will result in acceptance by both parties of theterms of the most recent notice.


6. POST SETTLEMENT AIR CONDITIONING AND/OR SWIMMING POOL INSPECTION CONTINGENCYThese provisions shall apply to the following system(s) (the "System") (check appropriate system(s)):

the Air Conditioning System; and/or the Swimming Pool System (defined as the swimming pool and related equipment, including thestructural integrity of the swimming pool).

Due to weather conditions, the System located at the Property cannot be adequately tested to ensure that it is in compliance with theEquipment, Maintenance and Condition paragraph or the Condition of Property and Possession paragraph, as applicable, of the Sales Contractand this Addendum (the "Required Condition"). Buyer and Seller agree that Buyer shall, at his expense, make an inspection of the System atthe earliest practicable date, consistent with the weather conditions, but in no event later than the May 31 following ratification (the "FinalInspection Date"). Seller's agreement that the System will be in the Required Condition at the time of settlement or occupancy, whicheveroccurs first, is hereby extended through the date of the inspection of the System, but in no event later than the Final Inspection Date.

Buyer shall give Notice to Seller of the date and time on which the inspection is to be made, and Seller shall have the option of being present orrepresented at said inspection. The inspection shall be conducted by a heating and air conditioning technician, or pool service company, asappropriate, licensed in the jurisdiction in which the Property is located. Buyer agrees not to attempt to operate the System prior to thescheduled date for the inspection. In the event Buyer attempts to operate the System prior to said inspection, then any warrantyhereunder, express or implied, by Seller, shall be deemed to be null and void.

Produced with ZipForm™ by RE FormsNet, LLC 18025 Fifteen Mile Road, Clinton Township, Michigan 48035 www.zipform.com Pre-written co

Owner

Text Box

pg21


Previous editions of this Form should be destroyed.GCAAR Form # 1332 - MC & DC 3 of 6 10/2005

In the event that the aforesaid inspection shows the System to be in the Required Condition, then Seller's obligations hereunder with respect tothe System shall be deemed fulfilled. In the event that the aforesaid inspection shows the System not to be in the Required Condition, Buyershall provide Notice of same to Seller no later than the Final Inspection Date, in which event Seller shall be responsible for the actual costnecessary to place the System in the Required Condition. All remedial action taken hereunder shall be performed in a good and workmanlikemanner by a heating and air conditioning contractor or pool service company, as appropriate, selected by Seller who is licensed in thejurisdiction in which the Property is located, and shall be completed within 10 days after Buyer's Notice to Seller ("Seller's Timeframe"). Buyershall make the Property available at reasonable times for the completion of such work. In the event that the System is not in the RequiredCondition by the expiration of Seller's Timeframe, Buyer shall be irrevocably authorized to have the required remedial action performed by acontractor meeting the aforesaid qualifications. Upon completion of the remedial action, but no later than 10 days following the expiration ofSeller's Timeframe ("Buyer's Timeframe"), Buyer shall provide a Notice to Seller including a copy of the contractor's invoice and instructionsas to whether the amount shown in said invoice shall be paid directly to said contractor or to Buyer as a reimbursement for covered expenses.Upon receipt of said Notice, Seller shall immediately make payment as instructed in the Notice.

7. SELLER'S CREDIT(S) TO BUYER (For use with the MAR contract). In addition to any other amount(s) the Seller has agreed to payunder other provisions of this Contract, the Seller shall credit the Buyer at time of settlement with the sum of $

In the event that any Notice required to be given in this Addendum is not given within the timeframe specified, then Seller's obligationshereunder with respect to the System shall be deemed fulfilled.

towards Buyer's settlement costs. It is the Buyer's responsibility to confirm with his lender, if applicable, that the entire credit provided forherein may be utilized. If lender prohibits the Seller from payment of any portion of this credit, then said credit shall be reduced to theamount allowed by the lender.

8. HOLDING DEPOSIT CHECK. It is understood and agreed by all Parties that the Buyer has instructed the Escrow Agent to holdand not deposit the above described deposit check until

9. INTEREST-BEARING ACCOUNT DEPOSIT. The Parties hereto agree and authorize ,Escrow Agent, to place the deposit in an interest-bearing escrow account. Interest shall accrue and be payable to the Buyer at time of settlement.In order to establish an Interest Bearing Account, the Buyer understands that a completed W-9 form and a copy of a government issued photo

10. APPRAISAL CONTINGENCY. This Contract IS CONTINGENT until 9 p.m. on the day after the Date of Ratification("Deadline") for Buyer to obtain a written appraisal valuation of the property (hereinafter "Appraisal") certifying the value of the property to beno less than the sales price (Check with your lender to confirm that the Appraisal will be completed by the Deadline). If Buyer is obtainingfinancing, the Lender shall select the Appraiser. If this is a cash sale, the Buyer shall select the Appraiser. The Appraiser shall be licensed toperform appraisals in the jurisdiction in which the property is located. Seller shall make the property available for inspection by suchAppraiser.


Days after Ratification at which time said check shall be deposited by the

ID must be given to the Escrow Agent. A Processing fee of $ shall be charged to the party receiving the interestby the above Escrow Agent for this service. In the event of a forfeiture of deposit, and interest accrued shall be payable to the Seller.

In the event that the Appraisal is lower then the Sales Price, the Buyer has the option of proceeding with this Contract at the stated Sales Pricewithout regard to the Appraisal. However, should the Buyer decline to proceed with this Contract at the state Sales Price (due to the Appraisalbeing lower than the stated Sales Price), Buyer shall deliver to Seller, by the Deadline, a Notice (See GCAAR Buyer's Appraisal Notice),requesting that the sales price be reduced to a specified lower amount of not less than the appraised value, together with a copy of the writtenAppraisal ("Buyer's Appraisal Notice").

Should Buyer fail to deliver Buyer's Appraisal Notice by the Deadline, Buyer's Appraisal Contingency will continue, unless Seller at Seller'soption, prior to Seller's receipt of the Buyer's Appraisal Notice, gives Notice to Buyer that the Deadline has passed and the Contingency willEXPIRE. If Seller Delivers such Notice this Contingency will EXPIRE at 9 p.m. on the third day following Delivery of Seller's Notice, unlessprior to that date and time Buyer delivers Buyer's Appraisal Notice. If this Contingency expires pursuant to the terms of this paragraph, thiscontract will remain in full force and effect.

All Notices (under this Appraisal Contingency) delivered subsequent to the delivery of the Buyer's Appraisal Notice shall be treated as follows:

WITHIN 3 DAYS AFTER NOTICE DELIVERY FROM ONE PARTY, THE OTHER PARTY MAY:

Deliver notice accepting the terms contained in the other party's notice: OR1.2. Deliver notice continuing negotiations by making another offer; OR3. Deliver notice that this Contract will become void at 9:00 p.m. on the 3rd Day following Delivery, unless the recipient delivers

to the other party Notice of the acceptance of the last Delivered offer prior to that date and time, in which case, this Contractwill remain in full force and effect.

FAILURE OF EITHER PARTY TO RESPOND WITHIN 3 DAYS AFTER NOTICE DELIVERY WILL RESULT IN THE CONTRACTBECOMING VOID.

Broker.

Pre-written co

Owner

Text Box

pg22

12. GIFT LETTER. This Contract is contingent until 9 p.m. on the Day after the Date of Ratification ("Deadline")upon the Buyer providing to the Seller a Gift Letter and necessary documentation satisfactory to the lender ("Gift Letter") in the amount of$Gift Letter, the Seller may give notice to the Buyer declaring this Contract void. Once the Gift Letter has been Delivered, if the Buyer does nothave the gift funds to settle as provided in this Contract, the Buyer will be in default.

from . At any time after the Deadline, but prior to Delivery to the Seller of the

13. SALE OF THE BUYER'S PROPERTY AND KICK-OUT. This Contract is contingent until 9 p.m. on the Day after theDate of Ratification ("Deadline") upon the sale of the Buyer's property located at

("Buyer's Property"). If the Buyer does not satisfy or remove this contingency by the Deadline pursuant to paragraph 13C below, then at anytime after the Deadline, but prior to the Buyer satisfying or removing this contingency, either the Seller or the Buyer may declare this Contractvoid by providing notice to the other party.

A. The Seller may continue to offer the Property for sale and accept bona fide back-up offers to this Contract. If during the term of thiscontingency, a back-up offer is accepted, the Seller will Deliver notice to the Buyer requiring that this contingency be satisfied orremoved pursuant to paragraph 13C below not later than 9 p.m. on the Day after Delivery of the notice, orthis Contract will become void.

B. The Buyer's Property will be listed exclusively and actively marketed by a licensed real estate broker and entered into a multiple listingservice within 3 Days after the Date of Ratification at a price not to exceed $ .

C. The Buyer may:(i) satisfy this contingency by Delivering to the Seller a copy of the ratified contract for the sale of the Buyer's Property

with evidence that all contingencies, other than financing, have been removed or waived, together with aprequalification letter as described in the Prequalification Letter Contingency paragraph of this addendum for theBuyer of the Buyer's Property, or

(ii) remove this contingency by Delivering to the Seller (a) the lender's letter stating that the financing is not contingent inany manner upon the sale and settlement of any real estate or obtaining a lease of any real estate and that the Buyer hassufficient funds available for the down payment and closing costs necessary to complete settlement; or (b) evidence ofsufficient funds available to complete settlement without obtaining financing.

D. If the Buyer satisfies the requirements of Paragraph 13C (i) above, this Contract will remain contingent upon the settlement of the saleof the Buyer's Property. Settlement under this Contract may not be delayed more than Days after the settlement date(specified in this contract) without the parties' written consent. If a further delay is required to obtain coinciding settlements and theparties do not agree, then this Contract will become void. If at any time after the Date of Ratification the contract for the sale of theBuyer's Property becomes void, the Buyer will immediately Deliver notice to the Seller together with evidence of such voiding, atwhich time either the Seller or the Buyer may declare this Contract void by Delivering notice to the other party. This paragraph willsurvive the satisfaction of the contingency for the sale of the Buyer's Property.

14. BACK-UP CONTRACT OR OFFER. This Contract is first back-up to another contract or offer datedbetween the Seller and as the Buyer. This Contract shall become the primary

,

contract immediately upon Delivery of notice from the Seller that the other contract or offer is void along with a copy of the fully executedrelease. The Buyer may void this back- up contract at any time prior to its becoming primary by Delivering notice to the Seller. If the contractdated settles, this back-up contract will become void. The rights and obligations of the parties under theprimary contract are superior to the rights and obligations of the parties to this back-up contract. All timeframes contained in this contract shallnot commence until the date this contract becomes primary. Additionally, the date for Settlement will be days after the datethis contract becomes primary.

11. PREQUALIFICATION LETTER CONTINGENCY. This Contract is contingent until 9 p.m. on the Day after the Dateof Ratification ("Deadline") upon the Buyer Delivering to the Seller a prequalification letter from an institutional lender stating that thefinancing described in this Contract is available to the Buyer and, based upon written loan application, a preliminary credit report, and theinformation provided by the Buyer, the financing should be committed subject to appropriate verification, approval and commitment. Atanytime after the Deadline, but prior to Delivery to the Seller of the prequalification letter, the Seller may give notice to the Buyer declaringthis Contract void.



4 of 6GCAAR Form # 1332 - MC & DC 10/2005


Owner

Text Box

pg23




16. OPTION TO KEEP HOUSE ON MARKET. The Seller may continue to offer this property for sale and accept bona fide back-up offersto this Contract. If during the contingency period(s) as set forth in paragraph #'s

together with a copy of the back-up Contract requiring that said contingency(ies) be satisfied or removed no later than 9 p.m. on the #'s , a back-up offer is accepted, the Seller will Deliver notice to the Buyer

17. CONTINGENT ON THE SELLER PURCHASING ANOTHER HOME. This Contract is contingent until 9 p.m. on the

of this Contract or paragraph

Day after the Date of Ratification ("Deadline") to allow the Seller to obtain a ratified contract to purchase another home. This provision willterminate at the Deadline and this Contract will remain in full force and effect unless the Seller declares this Contract void by Delivering noticeto the Buyer by the Deadline.

of form #

Day after Delivery of the notice, or this Contract will become void.

18. THIRD PARTY APPROVAL. This Contract is contingent upon the approval ofby 9 p.m. on the Day after the Date of Ratification ("Deadline"). If notice of disapproval is not Delivered to the other party by theDeadline, this contingency will terminate and this Contract will remain in full force and effect. No notice of approval is required. If notice ofdisapproval is Delivered by the Deadline, this Contract will become void.

19. ITEMS TO BE REMOVED. Notwithstanding the provisions of this Contract, the following fixtures and/or items of personal propertyshall not convey and shall be removed from the subject property by the Seller prior to settlement and will not be replaced:

20. POST-SETTLEMENT OCCUPANCY AGREEMENT. The Parties agree that the Seller shall occupy the property for a period ofdays following settlement at the rate of $ per day. Seller shall pay a security deposit of

$ at the time of settlement. The Seller and the Buyer acknowledge that they have read and executed, or will execute atsettlement, the GCAAR Post-Settlement Occupancy Agreement and agree to be bound by its terms and provisions.

21.commencing on the

PRE-SETTLEMENT OCCUPANCY AGREEMENT. The Parties agree that Buyer shall occupy the property prior to settlementday of at the rate of $ per day. The Seller

and the Buyer acknowledge that they have read and executed, or will execute prior to occupancy, the GCAAR Pre-Settlement OccupancyAgreement and agree to be bound by its terms and provisions.

22. LICENSED SELLER/BUYER AGENT. (NOTE: This clause should be used when Buyer or Seller is a licensed real estate agent or isrelated to one of the Parties. Failure to include could result in violation of the law.) The Parties acknowledge that is a licensed real estate agent in (DC, MD, VA) associated withand may share in the brokerage fee to be paid and is the Buyer, Seller or is related to one of the Parties hereto.

23. BROKERAGE FEE PAID BY THE BUYER. It is understood and agreed by all parties that (company name), (agent's name) , is acting as an agent

solely representing the Buyer in this transaction ("Buyer's Broker".) The Seller has no obligation to the Buyer's Broker, and does not owe abrokerage fee or other consideration of any nature to said Buyer's Broker. The settlement office is directed to collect from the Buyer funds, atsettlement, and to disburse said fee, as per the separate Buyer's Broker Agreement between the Buyer's Broker and the Buyer. This Buyer'sBroker's fee is separate and apart from any brokerage fee owed to the Seller's Listing Broker pursuant to the agency paragraph of the contract.The parties acknowledge that the said Buyer's Broker relationship was disclosed to the Seller and/or the Seller's agent prior to showing theproperty to the Buyer.

24. AGREEMENT BETWEEN SELLER (FSBO/BUILDER) AND BUYER'S BROKER. It is understood and agreed by all Parties that(agent's name) , of (company name) ,is acting as an agent solely representing the Buyer in this transaction ("Buyer's Broker".) The Seller agrees to pay to the Buyer's Broker a cashpayment of $ . The settlement office is hereby irrevocably directed to deduct from the proceeds of the sale atsettlement and pay the said Buyer's Broker fee. This fee is separate and apart from, and is in addition to, any brokerage fee owed to any ListingBroker pursuant to the agency paragraph of this Contract. The Parties acknowledge that said Buyer's Broker relationship was disclosed to theSeller and/or the Seller's agent prior to showing the property to the Buyer.


15. COINCIDING SETTLEMENTS. Settlement on this Contract is contingent upon the settlement on the contract for the sale of the Buyer'sProperty located at("Buyer's Property".) A copy of said contract is attached evidencing that all contingencies, other than financing, have been removed or waived,along with a prequalification letter as described in the Prequalification Letter Contingency paragraph of this addendum for the Buyer of theBuyer's Property. Settlement under this Contract may not be delayed more than Days after the settlement date (specified in this Contract) without the parties' written consent. If a further delay is required to obtain coinciding settlements and the parties do not agree, thenthis Contract will become void. If at any time after the Date of Ratification the contract for the sale of the Buyer's Property becomes void, theBuyer will immediately Deliver notice to the Seller together with evidence of such voiding, at which time either the Seller or the Buyer maydeclare this Contract void by Delivering notice to the other party.

Pre-written co

Owner

Text Box

pg24




26. ADDITIONAL PROVISIONS:

THE FOLLOWING GENERAL PROVISIONS PARAGRAPH SHALL APPLY TO THIS ENTIRE CONTRACT AND THENOTICES PARAGRAPH SHALL SUPERSEDE ANY OTHER NOTICE PROVISION IN THIS ENTIRE CONTRACT.

GENERAL PROVISIONS. This Contract shall be deemed ratified when the contract, all addenda and any modifications thereto have beensigned and initialed, where required by all parties, and Delivered to the other party pursuant to the Notices paragraph.

NOTICES. All notices under the contract shall be in writing. Notices to the Seller shall be effective when delivered to the Seller or an Agentof the Seller named in the contract (including a Dual Agent, Intra-Company Agent, or Designated Representative assigned to the Seller, asapplicable, or alternatively, to the Agent's Supervising Manager.) Notices to the Buyer shall be effective when delivered to the Buyer or anAgent of the Buyer named in the contract (including a Dual Agent, Intra-Company Agent, or Designated Representative assigned to the Buyer,as applicable, or alternatively, to the Agent's Supervising Manager). "Purchaser" means "Buyer" and vice versa. "Delivery" means handcarried, sent by overnight delivery service, sent by wired or electronic medium which produces a tangible record of the transmission (such astelegram, mailgram, telecopier or "Fax", email which includes an attachment with an actual copy of the executed instruments beingtransmitted, or U.S. Postal mailing.) In the event of overnight delivery service, Delivery will be deemed to have been made on the nextbusiness Day (Monday through Friday excluding federal holidays) following the sending, unless earlier receipt is acknowledged in writing. Inthe event of U.S. Postal mailing, Delivery will be deemed to have been made on the third business Day (Monday through Saturday, excludingfederal holidays) following the mailing, unless earlier receipt is acknowledged in writing. "Day" or "Days" means calendar days unlessotherwise specified. For the purpose of computing time periods, the first Day will be the Day following Delivery, and the time period will endat 9 p.m. on the Day specified. The provisions of this paragraph regarding delivery of notices shall also be applicable to delivery of resalepackages for condominiums, cooperatives and/or homeowners associations as may be required in a separate addendum.

Except as modified by this Addendum, all of the terms and provisions of this Contract are hereby expressly ratified and confirmed and willremain in full force and effect. The captions and headings are for convenience of reference only.

SELLER DATE BUYER DATE

SELLER DATE BUYER DATE

HOME TELEPHONE NUMBER HOME TELEPHONE NUMBER

OFFICE TELEPHONE NUMBER OFFICE TELEPHONE NUMBER

FAX NUMBER FAX NUMBER

SELLING AGENT/BUYER'S AGENT:LISTING AGENT:

Name Name

Real Estate License Number and Jurisdiction Real Estate License Number and Jurisdiction


25. MASTER PLAN REVIEW FOR MONTGOMERY COUNTY PROPERTIES. (except City of Rockville.) Notwithstanding any provisions to the contrary, this Contract is contingent until 9:00 P.M. on the Day after the Date of Ratification ("Deadline"), toallow the Buyer the opportunity to review the applicable County Master Plan and the municipal land use plan for the area in which the propertyis located as well as any amendment to either plan and any approved official map showing planned uses, roads and highways, parks and otherpublic facilities affecting the property ("Master Plan"). In the event the Buyer is dissatisfied with anything contained in the applicable MasterPlan or municipal land use plan, in the Buyer's sole discretion, the Buyer shall Deliver notice of disapproval to the Seller on or before theDeadline specified in this paragraph, in which event this Contract shall be null and void and the Buyer's deposit shall be returned. If no suchnotice is received by said Deadline, this contingency shall automatically expire and be of no force and effect. (This clause may not be used forproperty within the corporate limits of the City of Rockville.)

Mark Clark

Cynthia Clark

Ann Joliet

Maryland

Pre-written co

Owner

Text Box

pg25


Notice to Purchaser of Purchaser's Rights Under

, AddressCity , State Zip

NOTE: This notice does not apply to: (1) The initial sale of single family residential real property which has never been occupied, orfor which a certificate of occupancy has been issued within one year prior to the date of the Contract; (2) a transfer that is exempt fromthe transfer tax under Subsection 13-207 of the Tax-Property Article, except land installment contracts of sale under Subsection13-207(a)(11) of the Tax-Property Article and options to purchase real property under Subsection 13-207(a)(12) of the Tax-PropertyArticle; (3) a sale by a lender or an affiliate or subsidiary of a lender that acquired the real property by foreclosure or deed in lieu offoreclosure; (4) a sheriff's sale, tax sale, or sale by foreclosure, partition or by court appointed trustee; (5) a transfer by a fiduciary in thecourse of the administration of a decedent's estate, guardianship, conservatorship, or trust; (6) a transfer of single family residential realproperty to be converted by the buyer into a use other than residential use or to be demolished; or (7) a sale of unimproved real property.

©2005, The Greater Capital Area Association of REALTORS®, Inc.This Recommended Form is the property of The Greater Capital Area Association of REALTORS®, Inc. and is for use by members only.


GCAAR # 1342 - Purchaser's Rights - MC Page 1 of 3 11/05

Lot:


Block/Square: Unit: Section: Tax ID #Parking Space(s) # Storage Unit(s) # Subdivision/Project:between Seller andBuyer is hereby amended by theincorporation of this Addendum, which shall supersede any provisions to the contrary in the Contract.

SECTION 10-702 OF THE REAL PROPERTY ARTICLE OF THE ANNOTATED CODE OF MARYLAND ("SECTION10-702") REQUIRES THAT A SELLER OF A SINGLE FAMILY RESIDENTIAL PROPERTY ("THE PROPERTY") DELIVER TOEACH PURCHASER, ON OR BEFORE ENTERING INTO A CONTRACT OF SALE, ON A FORM AS PUBLISHED ANDPREPARED BY THE MARYLAND REAL ESTATE COMMISSION, EITHER:

(Previously form #1301H)

Maryland's Single Family Residential Property Condition Disclosure Law

(A) A WRITTEN PROPERTY CONDITION DISCLOSURE STATEMENT LISTING ALL DEFECTS, INCLUDING LATENTDEFECTS, OR INFORMATION OF WHICH THE SELLER HAS ACTUAL KNOWLEDGE IN RELATION TO THEFOLLOWING:

(i) WATER AND SEWER SYSTEMS, INCLUDING THE SOURCE OF HOUSEHOLD WATER, WATERTREATMENT SYSTEMS, AND SPRINKLER SYSTEMS;

(ii) INSULATION;(iii) STRUCTURAL SYSTEMS, INCLUDING THE ROOF, WALLS, FLOORS, FOUNDATION, AND ANY

BASEMENT;(iv) PLUMBING, ELECTRICAL, HEATING, AND AIR CONDITIONING SYSTEMS;(v) INFESTATION OF WOOD-DESTROYING INSECTS;(vi) LAND USE MATTERS;(vii) HAZARDOUS OR REGULATED MATERIALS, INCLUDING ASBESTOS, LEAD-BASED PAINT, RADON,

UNDERGROUND STORAGE TANKS, AND LICENSED LANDFILLS;(viii) ANY OTHER MATERIAL DEFECTS OF WHICH THE SELLER HAS ACTUAL KNOWLEDGE; AND(ix) WHETHER THE SMOKE DETECTORS WILL PROVIDE AN ALARM IN THE EVENT OF A POWER OUTAGE;

OR

(B) A WRITTEN DISCLAIMER STATEMENT PROVIDING THAT:

(i) EXCEPT FOR LATENT DEFECTS OF WHICH THE SELLER HAS ACTUAL KNOWLEDGE, THE SELLERMAKES NO REPRESENTATIONS OR WARRANTIES AS TO THE CONDITION OF THE REAL PROPERTY ORANY IMPROVEMENTS ON THE REAL PROPERTY; AND





Owner

Text Box

pg26


LATENT DEFECTS UNDER SECTION 10-702 MEANS MATERIAL DEFECTS IN REAL PROPERTY OR ANIMPROVEMENT TO REAL PROPERTY THAT:

(ii) THE PURCHASER WILL BE RECEIVING THE REAL PROPERTY "AS IS," WITH ALL DEFECTS, INCLUDINGLATENT DEFECTS, THAT MAY EXIST, EXCEPT AS OTHERWISE PROVIDED IN THE CONTRACT OF SALEOF THE PROPERTY.

(i) A PURCHASER WOULD NOT REASONABLY BE EXPECTED TO ASCERTAIN OR OBSERVE BY ACAREFUL VISUAL INSPECTION; AND

(ii) WOULD POSE A THREAT TO THE HEALTH OR SAFETY OF THE PURCHASER OR AN OCCUPANT OF THEPROPERTY, INCLUDING A TENANT OR INVITEE OF THE PURCHASER.

AT THE TIME THE DISCLOSURE OR DISCLAIMER STATEMENT IS DELIVERED TO YOU, YOU ARE REQUIREDTO DATE AND SIGN A WRITTEN ACKNOWLEDGEMENT OF RECEIPT ON THE DISCLOSURE OR DISCLAIMERSTATEMENT WHICH SHALL BE INCLUDED IN OR ATTACHED TO THE CONTRACT OF SALE.

SECTION 10-702 FURTHER PROVIDES THAT A PURCHASER WHO RECEIVES THE DISCLOSURE OR DISCLAIMER STATEMENT ON OR BEFORE ENTERING INTO A CONTRACT OF SALE DOES NOT HAVE THE RIGHT TO RESCIND THECONTRACT BASED UPON THE INFORMATION CONTAINED IN THE DISCLOSURE OR DISCLAIMER STATEMENT.

YOU ARE HEREBY NOTIFIED THAT, IN CERTAIN CIRCUMSTANCES, YOU HAVE THE RIGHT TO RESCIND YOURCONTRACT WITH THE SELLER IF THE SELLER FAILS TO DELIVER TO YOU THE WRITTEN PROPERTY CONDITIONDISCLOSURE OR DISCLAIMER STATEMENT. SECTION 10-702 PROVIDES THAT A PURCHASER WHO DOES NOTRECEIVE THE DISCLOSURE OR DISCLAIMER STATEMENT ON OR BEFORE ENTERING INTO THE CONTRACT HAS THEUNCONDITIONAL RIGHT, UPON WRITTEN NOTICE TO THE SELLER OR SELLER'S AGENT:

(i) TO RESCIND THE CONTRACT AT ANY TIME BEFORE THE RECEIPT OF THE DISCLOSURE ORDISCLAIMER STATEMENT OR WITHIN 5 DAYS FOLLOWING RECEIPT OF THE DISCLOSURE ORDISCLAIMER STATEMENT; AND

(ii) TO THE IMMEDIATE RETURN OF ANY DEPOSITS MADE ON ACCOUNT OF THE CONTRACT.

YOUR RIGHT TO RESCIND THE CONTRACT UNDER SECTION 10-702 TERMINATES IF NOT EXERCISED BEFOREMAKING A WRITTEN APPLICATION TO A LENDER FOR A MORTGAGE LOAN, IF THE LENDER DISCLOSES IN WRITINGAT OR BEFORE THE TIME APPLICATION IS MADE THAT THE RIGHT TO RESCIND TERMINATES ON SUBMISSION OFTHE APPLICATION; OR WITHIN FIVE DAYS FOLLOWING RECEIPT OF A WRITTEN DISCLOSURE FROM A LENDER WHOHAS RECEIVED YOUR APPLICATION FOR A MORTGAGE LOAN, IF THE LENDER'S DISCLOSURE STATES THAT YOURRIGHT TO RESCIND TERMINATES AT THE END OF THAT FIVE DAY PERIOD.

YOUR RIGHTS AS A PURCHASER UNDER SECTION 10-702 MAY NOT BE WAIVED IN THE CONTRACT AND ANYATTEMPTED WAIVER IS VOID. YOUR RIGHTS AS THE PURCHASER TO TERMINATE THE CONTRACT UNDER SECTION10-702 ARE WAIVED CONCLUSIVELY IF NOT EXERCISED BEFORE:

(i) CLOSING OR OCCUPANCY BY YOU, WHICHEVER OCCURS FIRST, IN THE EVENT OF A SALE; OR(ii) OCCUPANCY, IN THE EVENT OF A LEASE WITH OPTION TO PURCHASE.

THE INFORMATION CONTAINED IN THE PROPERTY CONDITION DISCLOSURE STATEMENT IS THE REPRESENTATIONOF THE SELLER AND NOT THE REPRESENTATION OF THE REAL ESTATE BROKER OR SALESPERSON, IF ANY. ADISCLOSURE BY THE SELLER IS NOT A SUBSTITUTE FOR AN INSPECTION BY AN INDEPENDENT PROFESSIONALHOME INSPECTION COMPANY. YOU SHOULD CONSIDER OBTAINING SUCH AN INSPECTION. THE INFORMATIONCONTAINED IN A DISCLOSURE STATEMENT BY THE SELLER IS NOT A WARRANTY BY THE SELLER AS TO THE



GCAAR # 1342 - Purchaser's Rights - MC Page 2 of 3 11/05(Previously form #1301H)

T7722361.ZFX

Owner

Text Box

pg27


CONDITION OF THE PROPERTY OF WHICH CONDITION THE SELLER HAS NO ACTUAL KNOWLEDGE OR OTHERCONDITION, INCLUDING LATENT DEFECTS, OF WHICH THE SELLER HAS NO ACTUAL KNOWLEDGE. THE SELLER ISNOT REQUIRED TO UNDERTAKE OR PROVIDE AN INDEPENDENT INVESTIGATION OR INSPECTION OF THEPROPERTY IN ORDER TO MAKE THE DISCLOSURES REQUIRED BY SECTION 10-702. THE SELLER IS NOT LIABLE FORAN ERROR, IN ACCURACY OR OMISSION IN THE DISCLOSURE STATEMENT IF THE ERROR, IN ACCURACY OROMISSION WAS BASED UPON INFORMATION THAT WAS NOT WITHIN THE ACTUAL KNOWLEDGE OF THE SELLER;OR WAS PROVIDED TO THE SELLER BY A THIRD PARTY AS SPECIFIED IN SECTION 10-702(I)(iii) or (j).

YOU HAVE THE RIGHT TO OBTAIN PROFESSIONAL ADVICE ABOUT THE PROPERTY OR OBTAIN ANINSPECTION OF THE PROPERTY.

THE UNDERSIGNED PURCHASER(S) ACKNOWLEDGES RECEIPT OF THIS NOTICE ON THE DATE INDICATEDBELOW AND ACKNOWLEDGES THAT THE REAL ESTATE LICENSEE NAMED BELOW HAS INFORMED THEPURCHASER OF THE PURCHASER'S RIGHTS AND OBLIGATIONS UNDER SECTION 10-702.



Agent's Signature Date



GCAAR # 1342 - Purchaser's Rights - MC Page 3 of 3 11/05(Previously form #1301H)

T7722361.ZFX

Mark Clark

Cynthia Clark

Ann Joliet

Owner

Highlight

Owner

Text Box

pg28

Post-Settlement Occupancy Agreement(This form may be used for post-settlement occupancies of not greater than sixty (60) days.

If greater than sixty (60) days, use appropriate jurisdictional lease agreement.)

The Contract of Sale datedCity

WHEREAS, according to said Contract, Seller agreed to give possession and occupancy at the time ofsettlement; and

NOW, THEREFORE, notwithstanding anything to the contrary in said contract, in consideration of the mutualcovenants and conditions herein contained and intending to be legally bound the parties hereto agree as follows:

Occupancy: The Seller shall remain in possession of the Property under this license from the date of1.settlement through

, Address, State Zip between

Seller andBuyer is herebyamended by the incorporation of this Addendum, which shall supersede any provisions to the contrary in theContract.

WHEREAS, on this date, the parties hereto are amending said contract to provide a license allowing the Sellerthe right to continue to occupy the Property after the date of settlement, subject to the hereinafter stated termsand conditions.

("Specified Date") upon payment of theamount of $ which shall be deducted from theSeller's proceeds at settlement. The amount paid for this license is based upon a daily license fee of$ and is non-refundable in the event Seller vacates the premises prior to the

The license hereby created shall be a license from day to day. In no event shall the Seller remain in theProperty after the Specified Date. In the event the Seller wrongfully holds over and fails to vacate on theSpecified Date, the daily license fee shall be DOUBLED. If Buyer should be required to employ an attorneyand/or to utilize legal proceedings to obtain possession of the Property, or to remedy a default by Seller underany other provision of this Agreement, Seller agrees to be liable for all attorney's fees and court costs incidentthereto should Buyer prevail.



GCAAR # 1309 - Post Settlement Occupancy Agreement - MC Page 1 of 3 5/03

2. Deposit: $

unpaid amounts that may remain due and owing pursuant to this Agreement, any extension thereof orhold-over period or applied to any damages to the Property caused by the Seller, his family, guests,employees, trades people or pets, in excess of ordinary wear and tear, or other damages and expenses sufferedby the Buyer as a result of a breach of any covenant or provision of this Agreement. The Escrow Agent shallhold the deposit in a non-interest bearing account in a federally insured banking or savings institution.

of the proceeds of sale shall be retained by

Specified Date.

("Escrow Agent") as collateral security and applied toward any


December 31, 2005



TBD

1/30th PITI & Condo

$300.00 Settlement Attorney


Owner

Text Box

pg29

inspection. The Final Inspection shall take place a

Property Condition: The Seller hereby agrees to deliver the Property vacant, clear of trash and debris,broom clean and in the condition required under the Contract of Sale and this Agreement. All utilities shallremain in service and in the name of the Seller until the later of the Specified Date or the date the Sellervacates the Property ("Termination Date"). The Seller shall pay all charges for same accruing up to that date.

3.

AM/

notice to the Escrow Agent ("Final Inspection Date"). In the event that Buyer determines that all provisions ofthis Agreement and the Contract have not been complied with, Buyer shall provide to Seller or Seller'sRepresentative (if either is present at the Final Inspection) and to Escrow Agent on or before 8:00 p.m. on the3rd business day (Monday-Friday excluding Federal designated holidays) following the date of the FinalInspection above or such other Final Inspection Date a written list of claims against the security deposit("Claims List"). In the event such Claims List is not delivered to Escrow Agent within said timeframe,the Buyer shall be precluded from making any claims under this Agreement against the securitydeposit. In such case the Escrow Agent is authorized and directed to release any funds remaining insaid Escrow to the Seller without any further agreement, notice by or to the parties, or duty to makefurther inquiry. In the event a Claims List is delivered within said timeframe, and includes damage to theProperty and/or repairs required to be made under the Contract or this Agreement, the Buyer shall beirrevocably authorized for a period of 14 calendar days after the Final Inspection Date to complete requiredrepairs and to provide invoices for same to Escrow Agent, which invoices said Escrow Agent shall beirrevocably authorized and directed to pay, or reimburse Buyer out of the escrow fund. In the event thatEscrow Agent receives written notice from Buyer within said 14 day timeframe that required repairs are sosubstantial or of such a nature that the work will not be completed within said 14 day timeframe, the periodfor completion of repairs under this Agreement may be extended for a period deemed reasonable, asdetermined by Escrow Agent in their sole discretion. Following payment of all covered claims pursuant to theprovisions of this Agreement, the balance of funds in said Escrow, if any, shall be disbursed to Seller. TheEscrow Agent is also authorized to release all funds in Escrow at any time pursuant to either (a) a writtennotice from Buyer to the Escrow Agent directing a release of all funds to Seller or (b) a joint written noticefrom Buyer and Seller to Escrow Agent specifying any other disposition of such funds. Notwithstanding therelease of funds held in escrow, the parties agree that the rights and obligations of the parties with respect tothe condition of the property as may be specified in this Agreement or the Contract shall survive and remainin full force and effect.




4. Final Inspection: Following the date Seller vacates the Property, the Buyer ("Buyer" shall include Buyer'sRepresentative) shall inspect the Property to ensure compliance with this Agreement and the Contract ("FinalInspection"). Seller ("Seller" shall include Seller's Representative) has the right to be present at such

: PM onor such other date and time as the parties may specify by joint written

5. Disbursement of Deposit: Any dispute relative to the disposition of the security deposit shall be decided by Escrow Agent and such decision shall be conclusive and binding upon Buyer and Seller. In the event thatany amounts due to Buyer under this Agreement are in excess of the security deposit, it is understood andagreed that Seller shall be responsible to immediately reimburse Buyer all excess amounts due. In no eventshall the Escrow Agent incur any liability for any decisions made pursuant to this Agreement or in the eventthe security deposit proves insufficient to pay all covered claims.

It is intended by all parties that the Escrow Agent's sole responsibilities under this Agreement shall be thereceipt of claims and the disbursement of funds in accordance with Paragraphs 4 and 5 hereof. In the eventthat the Escrow Agent must participate in negotiations with or between the parties, or in any legal orequitable proceedings in any capacity, the Buyer and Seller agree to be jointly and severally liable forEscrow Agent's time spent at Escrow Agent's standard billing rate, and all reasonable attorney's fees,expenses and costs incurred by the Escrow Agent. Prior to incurring any expenses or charges for which


TBD

T7722361.ZFX

Owner

Text Box

pg30

the Buyer and/or Seller shall be responsible under this Paragraph, Escrow Agent shall give notice to each ofthe parties of same.




11. TIME IS OF THE ESSENCE. TIME IS OF THE ESSENCE WITH RESPECT TO ALLPROVISIONS OF THIS POST-SETTLEMENT OCCUPANCY AGREEMENT.

6. Risk of Loss: Except for claims arising out of the Buyer's negligence, it is understood and agreed that theSeller specifically releases the Buyer from any and all claims that the Seller might have for injury to himselfor members of his family or guests, and for loss or damage to his personal property during the period aftersettlement until the Termination Date. From the date of settlement the Buyer shall obtain and maintaininsurance on the Property with the Buyer's policy being primary in the event of other available insurance.The Seller shall obtain and maintain a tenant's policy to protect the Seller's personal property and liabilityinsurance for the Seller's period of occupancy, which policy shall remain in effect until the TerminationDate. It is agreed that in the event of duplicate coverage to the dwelling, the Buyer's policy shall be primaryand the Seller's policy shall be excess. In the event of a covered loss, Seller shall be responsible for thepayment of any deductibles under both the Seller's and Buyer's insurance policies.

7. Access: It is further understood and agreed that the Buyer may enter the Property to examine, maintain,repair or protect the Property from damage, at reasonable hours of the day and upon prior notice to Seller, ora reasonable effort to give such notice, except in an emergency in which event no such notice shall berequired. At time of settlement Seller shall provide Buyer with a set of keys to the Property.

8. No Landlord Tenant Relationship Created: Nothing in this Agreement shall constitute a Landlord/Tenantrelationship between Buyer and Seller. Seller hereby warrants that no such tenancy shall arise under thisAgreement or under applicable law. Further, Seller shall have no rights afforded to tenants in thisjurisdiction by reason of the license hereunder granted from Buyer to Seller.

9. General Provisions: It is understood and agreed that wherever used herein, the singular shall include theplural and the plural shall include the singular. Except as otherwise provided for in this Agreement, Buyerand Seller agree that the terms and conditions of the Contract of Sale not modified herein shall remain in fullforce and effect.

10. Headings: The Paragraph headings of this Agreement are for convenience and reference only, and in noway define or limit the intent, rights or obligations of the parties.



The undersigned Escrow Agent hereby acknowledges receipt of the deposit herein provided.

Escrow Agent


Mark Clark

Cynthia Clark

Settlement Attorney

T7722361.ZFX

Owner

Highlight

Owner

Text Box

pg31


Page 1 of 1

First-Time Maryland HomeBuyerTransfer and Recordation Tax Addendum

For use when the Purchaser has never owned real property in

and

In order to qualify as a First-Time Maryland Homebuyer, each Buyer must sign a statement under oath stating that:

GCAAR Form # 1335 FT HomeBuyer - MD 5/05

©2005, The Greater Capital Area Association of REALTORS®, Inc.

Previous editions of this form should be destroyed.This recommended form is the property of The Greater Capital Area Association of REALTORS®, Inc. and is for the use by members only.

I. Definition of First-Time Maryland Homebuyer.

A. Such Buyer has never owned residential real property in Maryland that has

Note: Seller shall still pay the non-waived portion of the State Transfer Tax.

State of Maryland that was used as their principal residence.

, AddressCity , State Zip Lot:Block/Square: Unit: Section: Tax ID#Parking Space(s) # Storage Unit(s) # Subdivision/Project:between SellerBuyer is hereby amendedby the incorporation of this Addendum, which shall supersede any provisions to the contrary in the Contract.

1.been used as the individual's principal residence; AND

2. The Property will be occupied by such Buyer as the Buyer's principalresidence;

ORB. 1. Such Buyer is a co-maker or guarantor of a Purchase Money Mortgage or

Deed of Trust to be secured by the property AND2. Such Buyer will not occupy the property as a principal residence.

II. State Transfer Tax, Recordation Tax and Local (County) Transfer Tax.Buyer is a First-Time Maryland Homebuyer and, as such, Section 14-104 of the Real Property Article, and Section13-203(b) of the Tax-Property Article, of the Annotated Code of Maryland provides that:

The State Transfer Tax is reduced from 0.5% to 0.25% of the considerationpayable;The entire amount of State Transfer Tax shall be paid by Seller; and

A.

B.C. The entire amount of the Recordation Tax and the Local (County)

Tax shall be paid by the Seller unless there is an expressed written agreement between Buyer and Seller that theRecordation Tax and the Local (County) Transfer Tax will not be paid entirely by the Seller.

III. Agreement Regarding Recordation Tax and Local (County) Transfer Tax:Buyer and Seller agree that the cost of the Recordation Tax and the Local (County)

Buyer to pay.Transfer Tax shall be paid as follows:

Seller to pay.

Buyer and Seller to pay equally.

Other as follows:







X

Mark Clark

Cynthia Clark


Owner

Highlight

Owner

Text Box

pg32

Some Information Relative to the Purchase of Real Estate


GCAAR # 1318 – Some Information 11/05

For use in Montgomery County and the District of ColumbiaThis information is to assist Buyers in the purchase of residential real property. The contents are not all-inclusiveand are provided for informational purposes only.

1.

This Recommended Form is the property of The Greater Capital Area Association of REALTORS®, Inc. and is for use by members only. Previous editions of this form should be destroyed.

Page 1 of 3

2.

3.

4.

5.

6.

Legal Requirements: All contracts for real property are required to be in writing to be legally enforceable. There is a"Maryland Association of Realtors (tm) Residential Contract of Sale" (MAR) for use in Maryland or the "Regional SalesContract" (Regional) for use in Maryland and the District of Columbia. Appropriate jurisdictional addenda are required witheach contract. Buyers have the right to have legal counsel review these forms. All written offers are to be presented to theSeller.

Agency Relationships: Buyers must be provided a written disclosure about agency relationships on forms specified bythe State of Maryland and/or the District of Columbia, as applicable. If Buyers desire to have an agent represent them, theymust have a written Buyer agency agreement.

Fair Housing: In compliance with federal fair housing regulations, properties shall be made available to all personswithout regard to race, color, religion, national origin, sex, handicap and familial status. The District of Columbiarecognizes age, marital status, physical handicap, sexual orientation, family responsibilities, matriculation, politicalaffiliation, source of income, place of residence or business, and personal appearance as protected classes in addition to thefederal protected classes. Maryland recognizes marital status, physical/mental handicap, and sexual orientation as protectedclasses in addition to the federal protected classes. In Montgomery County, protected classes in addition to those of federaland the State of Maryland include source of income, age and ancestry.

Land Use: Land uses may be restricted on some properties by covenants, easements, zoning, subdivision regulations,historic preservation regulations, environmental laws, airport noise, planned land uses, road or highway rights of way,federal, state, county and/or local or municipal restrictions or statutes, or other regulations. Information may be procuredthrough government agencies and a title search for recorded land use restrictions prior to making an offer to ascertain howsuch restrictions may impact use of the property.

Property Taxes: (A) Tax Bill Increases. Your property tax bill could substantially increase following transfer of title.For owner occupied properties, both Maryland and the District of Columbia have programs which limit the amount thattaxes on real property can increase from one year to the next. Once the property transfers to a new owner, these limits areremoved for the fiscal year following transfer of title, which may result in a significant increase in the tax bill. (B) Right ofAppeal. You have the right to appeal the next year's property tax assessment within strict timeframes following transfer oftitle. For more information on property taxes, appealing assessments, and the availability of tax credits, contact theMaryland State Department of Assessments and Taxation and/or the Montgomery County Department of Finance forMaryland properties, or the Office of Tax and Revenue for District of Columbia properties.

Inspections: Buyers may include in their purchase offer the right to employ a professional engineer, home inspectionspecialist, environmental firm or other expert(s) of their choice to inspect the property for possible hazardous substances,building material concerns and defects. Hazardous substances and building materials of concern may include, but are notlimited to, asbestos, cleaning chemicals, indoor pollutants, lawn and garden chemicals, lead, mold spores, paint, radon,radium, fire retardant treated plywood (FRT), polybutelene pipes, and synthetic stucco (EIFS). Other factors may includecontaminated groundwater, nearby landfills and other disposal sites, industrial sites, and noxious air or aircraft over flightnoise. Agents do not have the technical expertise to advise Buyers of the presence of such factors, or whether or not theypose a problem. Buyers can obtain information from a home inspection specialist, environmental specialists, the U.S.Environmental Protection Agency, the Maryland Department of the Environment, U.S. Army Corps of Engineers,Maryland-National Capital Park and Planning Commission, District of Columbia Department of the Environment and othergovernmental agencies.




GCAAR # 1318 – Some Information 11/05

This Recommended Form is the property of The Greater Capital Area Association of REALTORS®, Inc. and is for use by members only. Previous editions of this form should be destroyed.

Page 2 of 3

8.

14.

9.

SPECIFIC TO DISTRICT OF COLUMBIA12.

13.

If a property is part of a cooperative or a development which has the right to impose a mandatory fee, the Buyer canrequest the Seller, as part of the contract, to provide relevant information. Such information may include, but is not limitedto, the specific fees involved as well as a package of covenants, restrictions, bylaws and financial information.

10.

7. Mold: The Listing Broker may list properties and the Selling Broker may show properties that contain mold. Molds are a type of fungus, some of which may potentially cause harm to humans. The Brokers are not experts with regard tomold or the health effects of mold exposure. Accordingly, if the Buyer has a concern, it is the responsibility of the Buyerto retain appropriate professionals to inspect property that the Buyer may purchase to determine the presence of any mold.

Financing: Mortgage rates and fees vary with financial institutions and fluctuations in the market. Buyers have theright to select the lender and the right to negotiate the terms of their financing and the conditions of their loan. Consultlenders or visit the following web sites for first time home buyer and other special programs,www.montgomerycountymd.gov or www.dc.gov in the District of Columbia.

Warranty: A number of companies provide home warranties/service contracts on systems, appliances, etc. Agentscan provide information on companies that provide such service.

Homeowner's Insurance: Homeowner insurance rates and availability are determined in part by the number andnature of claims and inquiries made on a property's policy as well as the number and nature of claims made by aprospective Buyer. Buyer should consult insurance carriers as soon as possible.

Property Condition Disclosure: With limited exceptions, Sellers are required by law to provide Buyers with astandard property condition disclosure prior to or at the time of ratification of a sales contract. Should such disclosure notbe provided, the Buyer shall have the right to void said contract. The disclosure is not a substitute for an inspection by anengineer, home inspection specialist or environmental firm, and Buyers may wish to obtain such an inspection. Note thateven without such disclosure the Seller is obligated to disclose known material defects.

Homeowner's Associations, Condominiums, Cooperatives Disclosure: In the case of a condominium unit resale, theSeller must provide the Buyer with the Condominium Instruments and Certificate ("information package") on or prior to thetenth business day following ratification of the Contract. The Buyer is entitled to a mandatory review period of threebusiness days following receipt of the information package, during which time the Buyer will have the right to void thecontract. Should the Seller fail to deliver the Instruments and Certificate to the Buyer within ten business days ofratification, the Buyer shall have the option to void the contract at anytime thereafter until the time of settlement but no laterthan 3 business days following actual receipt of the information package as outlined above. This right cannot be waived.

Tenancy Rights: If a property is tenant occupied, the tenants qualify under the Tenant Opportunity to Purchase Actto match a bona fide offer by a third party. It is important to understand the complexities of a tenant-occupied sale prior tomaking an offer.


11. Criminal Activity and Sexual Offender: Buyer may contact the state, county or municipal police departments inwhich the Property is located or check the Maryland Department of Public Safety and Correctional Services website or theDistrict of Columbia Police Department website in order to ascertain criminal activity in the vicinity of the Property or thepresence of registered sexual offenders who live or work within the vicinity of a property. Buyer acknowledges that Buyeris solely responsible to inquire of such matters before signing a contract. Buyer shall have no right to cancel a contractbased upon criminal activity or the presence of registered sexual offenders in the vicinity of a property. Buyer furtheracknowledges that no real estate licensee involved in the sale or purchase of a property, whether acting as the agent forSeller or Buyer, has any duty nor assumes any duty or responsibility to ascertain criminal activity or the presence ofregistered sexual offenders in the vicinity of the Property.

15. Transfer and Recordation Fees: The DC Recordation Tax is the responsibility of the Buyer, and DC Transfer Tax isthe responsibility of the Seller, unless otherwise negotiated in the sales contract.

Pre-written co


GCAAR # 1318 - Some Information 11/05

This Recommended Form is the property of the Greater Capital Area Association of REALTORS®, Inc. and is for use by members only. Previous editions of this form should be destroyed.

Page 3 of 3

18.

19.

I/we acknowledge receipt of this notice from

20.

(Agent), affiliated

with (Broker)

Phone(s):

Buyer (printed name) Date Buyer (printed name) Date

Signature Signature

17.

SPECIFIC TO MONTGOMERY COUNTY

16. Government Regulations Disclosure: Sellers are required to disclose to the best of their knowledge specific factsrelevant to, or affecting any property, whether imposed by law or regulation or any common law principle. Completed andsigned "Government Regulations, Easements and Assessments Disclosure and Addendum" shall be available prior tomaking a purchase offer and is required to be part of the sales contract.

Property Condition Disclosure/Disclaimer: Buyers are entitled, with limited exceptions, to receive the completedMaryland Residential Property Disclosure or Disclaimer Statement. The Seller has the option whether to disclose ordisclaim. The disclosure portion of the form requires the Seller to provide information, of which the Seller has actualknowledge regarding the condition and age of various systems and the structure, and information about factors whichimpact the property. A Seller's execution of the disclaimer portion of the form does not mean the sale is "as is." TheDisclosure/Disclaimer form states that the property conveys "as is" except as provided in the sales contract. The Disclosureis not a substitute for an inspection.

Land Use Plans: Properties may have special restrictions on land uses and physical changes. Buyers may review theCounty master plan, adopted amendments, and approved official maps showing planned land uses, roads, and highways,parks and other public facilities and any applicable municipal plan to understand how recorded covenants, easements,zoning, subdivision regulations, County historic preservation regulations, environmental laws, planned land uses, road orhighway right of ways, local restrictions, statutes, or other regulations affect a particular property. County master plans canbe viewed at the Maryland-National Capital Park and Planning Commission, 8787 Georgia Avenue, Silver Spring, MD20910. Local/municipal plans are available at the municipal offices. For a list of municipalities, their telephone numbersand web sites, go to the Resources link on www.gcaar.com or to www.montgomerycountymd.gov.

Transfer and Recordation Fees: Maryland law requires that, unless otherwise negotiated in the sales contract, the costof any recordation tax or State and County transfer tax shall be shared equally between Buyer and Seller. In the event theBuyer is a First Time Maryland Owner Occupant Home Buyer, the law waives the Buyer's portion of the State transfer tax.

Homeowner's Associations, Condominiums, Cooperatives and Developments with Restrictions: If a propertyis part of a condominium, cooperative or a development which has rights, such as but not limited to, the right to impose amandatory fee, the Buyer will be provided a package of covenants, restrictions, by laws and financial information as wellas a mandatory review period.


Pre-written co

Owner

Highlight

Owner

Highlight

Understanding Whom Real Estate Agents Represent

Before you decide to sell or buy or rent a home you need to consider the following information:

Agents Who Represent the SellerSeller's Agent: A seller's agent works for the real estate company that lists and markets the property for the sellers orlandlords, and exclusively represents the sellers or landlords. That means that he or she may assist the buyer or tenant inpurchasing or renting the property, but his or her duty of loyalty is only to the sellers or landlords. The seller pays theseller's agent's fees as specified in a written listing agreement.

Cooperating Agent: A cooperating agent works for a real estate company different from the company for which the seller'sagent works. The cooperating agent can assist a buyer or tenant in purchasing or renting a property, but his or her duty ofloyalty is only to the sellers or landlords. The cooperating agent's fee is paid by the sellers or landlords through the seller'sagent's company.

Agents Who Represent the BuyerPresumed Buyer's Agent (no written agreement): When a person goes to a real estate agent for assistance in finding ahome to buy or rent, the agent is presumed to be representing the buyer and can show the buyer properties that are notlisted by the agent's real estate company. A presumed buyer's agent may not make or prepare an offer or negotiate a salefor the buyer. The buyer does not have an obligation to pay anything to the presumed agent.

If for any reason the buyer does not want the agent to represent him or her as a presumed agent, either initially or at anytime, the buyer can decline or terminate a presumed agency relationship simply by saying so.

Buyer's Agent (by written agreement): A buyer or tenant may enter into a written contract with a real estate agent whichprovides that the agent will represent the buyer or tenant in locating a property to buy or rent. The agent is then known asthe buyer's agent. That agent assists the buyer in evaluating properties and preparing offers, and negotiates in the bestinterests of the buyer or tenant. The agent's fee is paid according to the written agreement between the agent and thebuyer or tenant. If you as a buyer or tenant wish to have an agent represent you exclusively, you must enter into a writtenbuyer agency agreement.

Dual AgentsThe possibility of dual agency arises when the buyer's agent and the seller's agent both work for the same real estatecompany, and the buyer is interested in property listed by that company. The real estate company, or broker, is called the"dual agent". Dual agents do not act exclusively in the interests of either the seller or buyer, or landlord or tenant, andtherefore cannot give undivided loyalty to either party. There may be a conflict of interest because the interests of the sellerand buyer may be different or adverse.

If both seller and buyer, or landlord and tenant, agree to dual agency by signing a Consent For Dual Agency form,then the real estate company (the "dual agent") will assign one agent to represent the seller or landlord (the seller's"intra-company agent") and another agent to represent the buyer or tenant (the buyer's "intra-company agent").Intra-company agents may provide the same services to their clients as exclusive seller's or buyer's agents, includingadvising their clients as to price and negotiation strategy, provided the clients have both consented to be represented bydual agency.

Form # 1301G.1 1/99



If either party does not agree to dual agency, the real estate company may withdraw the agency agreement for thatparticular property with either the buyer or seller, or both. If the seller's agreement is terminated, the seller must then eitherrepresent him or herself or arrange to be represented by an agent from another real estate company. If the buyer'sagreement is terminated, the buyer or tenant may choose to enter into a written buyer agency agreement with an agentfrom a different company. Alternatively, the buyer or tenant may choose not to be represented by an agent of his or her ownbut simply to receive assistance from the seller's agent, from another agent in that company, or from a cooperating agentfrom another company.

No matter what type of agent you choose to work with, you have the following rights and responsibilities in selling or buyingor renting property:

>Real estate agents are obligated by law to treat all parties to a real estate transaction honestly and fairly. They mustexercise reasonable care and diligence and maintain the confidentiality of clients. They must not discriminate in theoffering of properties; they must promptly present each written offer or counteroffer to the other party; and they mustanswer questions truthfully.

>Real estate agents must disclose all material facts that they know or should know relating to a property. An agent'sduty to maintain confidentiality does not apply to the disclosure of material facts about a property.

>All agreements with real estate agents should be in writing and should explain the duties and obligations of the agent.The agreement should explain how the agent will be paid and any fee-sharing agreements with other agents.

>You have the responsibility to protect your own interests. You should carefully read all agreements to make sure theyaccurately reflect your understanding. A real estate agent is qualified to advise you on real estate matters only. If youneed legal or tax advise, it is your responsibility to consult a licensed attorney or accountant.

Any complaints about a real estate agent may be filed with the Real Estate Commission at 500 North Calvert Street,Baltimore, MD 21202. (410) 230-6200.

This notice is information required by law and is NOT A CONTRACT

We, the Sellers/Landlord Buyers/Tenants acknowledge receipt of a copy of this disclosure and

that (firm name)

And (salesperson) are working as:

Seller/landlord's agentCooperating agentBuyer's agentDual agent (See Consent for Dual Agency form)

(you may check more than one box)

Signature Date DateSignature

I certify that on this date I made the required agency disclosure to the individuals identified below and they were unable orunwilling to acknowledge receipt of a copy of this disclosure statement.

Signature of agent Date

Name of individual to whom disclosure was made Name of individual to whom disclosure was made

Form # 1301G.1 1/99


HOME INSPECTION NOTICE (INCLUDING PROPERTY CONDITION PARAGRAPH NOTICE)

SPECIAL PROVISIONS attached to and hereby made a part thereof, the Contract dated the day of ,on Lot , Block/Square , Unit in the subdivision/condominium project known as

, located atbetween

(Purchaser) and (Seller):

I. PROPERTY CONDITION PARAGRAPH NOTICE.

Having performed the Home Inspection of the above-referenced property, the undersigned Purchaserhereby provides to Seller Notice that the following items require repair under the EQUIPMENT,MAINTENANCE AND CONDITION or CONDITION OF PROPERTY AND POSSESSIONParagraph of the Sales Contract ("Property Condition Paragraph"):

II. HOME INSPECTION NOTICE.

The undersigned Purchaser:

A. Hereby provides a copy of the Inspection Report and agrees to remove the Inspection Contingency inexchange for:

1. The Seller's agreement to take the following action(s) prior to settlement:


Previous editions of this Form should be destroyed.GCAAR Form #1344 - Home Inspection Notice - MC & DC Page 1 of 2 11/2000


(Previously form #950)

32Georgian Colonies 3816 Gawayne Terrace, Silver Spring, MD 20906



III. CREDIT TOWARDS CLOSING COSTS.

All repairs/replacements shall be performed in a good and workmanlike manner. The Seller shall have the followingenumerated items from the above listreplaced, repaired or otherwise rectified, as above provided, by a Maryland / District of Columbia / Virginia (asapplicable) licensed contractor(s) and shall, prior to settlement, provide Purchaser with a receipt from saidcontractor(s) specifying that the referenced item(s) has/have been completed.

2. The Seller's agreement to provide a credit towards Purchaser's closing costs as set forth inParagraph III herein.

ORB. Declares this Contract null and void.

The Seller agrees to credit Purchaser the amount of $ towards Purchaser's closing costs in lieuof Seller taking the following actions:

It is the Purchaser's responsibility to confirm with his lender, if applicable, that the entire credit provided for hereinmay be utilized. If lender prohibits the Seller from payment of any portion of this credit, then said credit shall be reduced tothe amount allowed by the lender. This credit shall be in addition to any other amount(s) the Seller has agreed to pay underother provisions of this Contract.

THE ABOVE TERMS ARE ACKNOWLEDGED AND AGREED TO:

SELLER DATE PURCHASER DATE

SELLER DATE PURCHASER DATE



Previous editions of this Form should be destroyed.GCAAR Form #1344 - Home Inspection Notice - MC & DC Page 2 of 2 11/2000(Previously form #950)

Mark Clark

Cynthia Clark

Pre-written co

Buyer's Estimated Settlement CostsFor Montgomery County, Maryland and Washington, DC

Property Address

Buyer's Name Date

800 LOAN RELATED FEES801 Loan Origination Fee (1 % of loan amount)

Loan Discount Points/Placement Fees(each pt. = 1% of loan amt.)

$802

Appraisal Fee803($300-$1,500; usually paid at loan application, i.e., P.O.C.)Credit Report ($60-$75 each person/married couple;804usually paid at loan application, i.e. P.O.C.)Assumption Fee (check with lender)

808-10 Misc. Loan fees (doc. preparation, processing,tax service, underwriting, etc.: $450-$1,000)

811 Loan Origination/Discount fees on second mortgage,if applicable (each pt. = 1% of loan amt.)

812 Misc. Loan fees for second mortgage, if applicable(doc. preparation, processing, etc.: $150 - $500)

PREPAIDS OR ESCROW ITEMS900Prepaid Interest on new loan (estimate 30 days)901

902 Mortgage Insurance:(Conventional - typically none if more than 20% down;with less than 20% down check with Lender forspecial programs)[FHA - 1½% of loan amount for single family(usually financed) plus ½% of loan amount dividedby 6; ½% of loan amount divided by 6 for condos]Hazard Insurance Policy (1 year) - estimate $3.50 per $1,000of sales price usually paid prior to settlement, i.e., P.O.C.VA Funding Fee: (check appropriate box; usually canbe financed; check with lender)

903

904

Less than 5% down - 2% of Loan Amount5% - 10% down - 1.5% of Loan Amount10% or more down - 1.25% of Loan Amount

Hazard Insurance (2 months premium)1003-04 Real Estate Taxes (estimate 7 months)

(14 months in MD if Seller is absentee owner)Mortgage Insurance Premium (check with lender)

©2004, Greater Capital Area Association of REALTORS®, Inc.This recommended form is the property of the Greater Capital Area Association of REALTORS®, Inc. and is for use by members only.

Previous editions of this Form should be destroyed.10/04GCAAR #1336 - Buyer's Estimated Settlement Costs – MC & DC

Page 1 of 3

$

$

$807 $

$

$

$

$

$

$

$

1001 $

$1006 $

Sales Price

**NOTE: Numbers correspond to HUD Settlement Sheet.


(Previously form #1502)

3816 Gawayne TerraceSilver Spring, MD 20906


TITLE CHARGES1101-07 Settlement Fee, Including: Settlement Fee/Title

Abstract & Examination, Doc. Preparation, Title Binder,Notary, Misc. ($500 - $1000)

1108-10 Title Insurance (check appropriate box):

Lender's Coverage only - $2.50 per $1,000 of loan amountOwner's Coverage only - $4.20 per $1,000 of sale price (MD)

$4.50 - $5.70 per $1,000 of sale price (DC)Owner's & Lender's Coverage - add $35.00 to Owners

MONTGOMERY COUNTY GOVERNMENT RECORDINGAND TRANSFER CHARGES

Recording Fees- Deed, Mortgage, etc. ($50 - $150)County Transfer Tax (check appropriate box):

Unimproved/non-residential property: 1% of sales price.Residential $70,000 or more 1% of sales price$40,000 to $69,999 - 1/2 % of sales priceLess than $40,000 - ¼% of sales price

State Transfer Tax (1/2% of sales price)(Reduced to ¼% and the ¼% must be paid by Seller iffirst-time Maryland Owner-Occupant Home Buyer)

Recordation Tax$6.90 per $1,000 of sales price (first $50,000of the purchase price exempt from tax when theBuyer intends to use the property as the Buyer'sprincipal residence for at least 7 months of thefirst 12 months immediately following closing)

NOTE: LINES 1202, 1203 AND 1204 ARE DIVIDED EQUALLY IN MARYLAND UNLESS OTHERWISE NEGOTIATED.

ADDITIONAL SETTLEMENT CHARGESSurvey (House Location Drawing $150 - $300)or Boundary Survey ($450 - $2,000)Pest Inspection ($50 - $150)Inspection Fees (Home , Radon, Lead )Condominium, Cooperative or HOA Dues(proration plus 1 full month or quarter)OtherOther

1100

$$

1200

1201 $$1202

1203

$1204

$

13001301

1302$$$1303

1304$$$

13051306

1200 DC GOVERNMENT RECORDING AND TRANSFER CHARGES1201 Recording Fees - Deed, Mortgage, etc. ($50 - $150) $1205 Recordation Tax - 1.1% of sales price $

(Reissue Rate may be available)


TOTAL ESTIMATED SETTLEMENT COSTS $

(POC)


Previous editions of this Form should be destroyed.GCAAR #1336 - Buyer's Estimated Settlement Costs – MC & DC 10/04

Page 2 of 3(Previously form #1502)

T7722361.ZFX

+ Estimated Settlement Costs- Loan Amt. (1

annual Hazard Insurance- Credits from Seller,annual Mortgage

Insurance if applicable- Items Paid atTotal Est. Monthly Payment

Application (P.O.C.) to Lender- DepositMonthly Condo/Coop/HOA Fee

Total Estimated=Total Est. Due at SettlementMonthly Payment

Estimated Funds Required for SettlementSales Price

THE ABOVE FIGURES ARE ESTIMATES. RATES AND CHARGES VARY WITH LENDERS,ATTORNEYS, TITLE COMPANIES AND INSURANCE COMPANIES. COSTS ARE SUBJECT TOCHANGE, AND ARE NOT GUARANTEED BY BROKER/AGENT. THE TOTAL ESTIMATED DUEAT SETTLEMENT (SEE ABOVE) MUST BE PAID BY CERTIFIED, TREASURER'S OR CASHIER'SCHECK MADE PAYABLE TO SETTLEMENT ATTORNEY OR TITLE COMPANY.

MOST LENDERS REQUIRE THE HAZARD INSURANCE POLICY WITH A PAID RECEIPT PRIORTO CLOSING.

RECEIVED:

DateBuyerBroker

Prepared by REALTOR®

P&I (at %) (2nd mortgage) $ $

1/12 th $1/12 th

$

th1/12 annual Property Taxes $

$$

$

$

mortgage)st $nd- Loan Amt. (2 mortgage) $

$

$$

$

Buyer Date

stEstimated Monthly PaymentP&I (at %) (1 mortgage) $



Previous editions of this Form should be destroyed.GCAAR #1336 - Buyer's Estimated Settlement Costs – MC & DC 10/04

Page 3 of 3(Previously form #1502)

T7722361.ZFX

Financial Information Sheet

This information is presented with the understanding that it may be used as a basis for the acceptance of a contract by the seller. The undersigned hereby authorizes theagent to disclose to the seller, seller's agents, dual agents, cooperating agents and any lender all or any portion of the information sheet. Any misrepresentations,fraudulent entries and/or omissions on this form, which may adversely affect the Buyer's ability to qualify for a loan, may be used as a basis for legal action.

Buyer (Full Name)

Residence Phone Business Phone Other

Present Address

Years at Present Address Own $ PITI or Rent $ Per Month

Previous Address

Occupation (Position & Title)

Place of Employment (Name & Address)

Previous Employer (Name & Address)

# of Years

# of Years

Co-Buyer (Full Name)

Residence Phone

Present Address

Years at Present Address

Previous Address

Occupation (Position & Title)

Place of Employment (Name & Address)

Previous Employer (Name & Address)

Business Phone Other

Own $ PITI or Rent $ Per month

# of Years

# of Years

GROSS ANNUAL INCOME:

Base Salary:Overtime:Bonuses:Commissions:Dividends:Net Rental Income:Other:

TOTAL

$$$$$$$$$

$$$$$$$$$

Buyer Co-Buyer

Buyer self-employed? Co-Buyer self-employed?Yes No Yes No

Are all buyers First Time MD Home Buyers?*See Below for details

Yes NoDo all Buyers intend to occupy this property?

Yes No Details:# of DependentsDetails:

ASSETS:

Present Residence (if owned):Checking

Savings

Credit UnionStocksOther Assets: (Specify)

Mkt. Value $ Mtg. Balance(s) $ Lender(s)$$$$$

BankBankBankBankBank

$ Bonds $ Life Insurance-Cash $ Face Value $

©2005 The Greater Capital Area Association of REALTORS®, Inc.This Recommended Form is the property of the Greater Capital Area Association of REALTORS®, Inc. and is for use by members only.


GCAAR Form # 1337 - MC & DC 11/05


Page 1 of 2(Previously Form #1504)


LIABILITIES: (Outstanding obligations including auto, mortgage(s), credit card(s), personal loan(s) and/or cosigned loans and all other obligations.)Payoff Date

# of Payments Remaining Type Creditor's Name Unpaid Balance Monthly Payment

$ $$ $$ $

TOTAL $ $Additional Monthly Obligations: Alimony $ Child Support $ Child Care $

USE REVERSE SIDE FOR DETAILS OR ADDITIONS

Has any buyer ever declared bankruptcy? Yes No If yes, explain on reverse side.Are there any outstanding judgments, lawsuits or tax liens current: Yes No Amount $(If yes, use reverse side for details.)Are you aware of any factors or conditions that could adversely affect any buyers ability to obtain a mortgage loan? Yes No(If yes, use reverse side for details.)Is any part of the down payment or settlement costs being obtained from a source other than from assets listed above? Yes No(If yes, use reverse side for details.)

I (we) certify that I (we) are over the age of majority and that the above information is true and accurate to the best of my (our) knowledge and by my (our) signature(s)acknowledge receipt of this financial information sheet.

Buyer Co-Buyer

Date Date

First-time Maryland home buyer means an individual who has never owned in the State, residential real property that has been the individual's principal residence,which will be occupied by the buyer as the buyer's principal residence. The buyer can also be a co-maker or guarantor of a purchase money mortgage or deed oftrust so long as the co-maker or guarantor will not occupy the residence.


©2005 The Greater Capital Area Association of REALTORS®, Inc.This Recommended Form is the property of the Greater Capital Area Association of REALTORS®, Inc. and is for use by members only.


GCAAR Form # 1337 - MC & DC Page 2 of 2 11/05(Previously Form #1504)

T7722361.ZFX

residential contract of sale - move2olney.com

Documents