Funds for Purchase. (i) In the event Purchaser wishes to finance the purchase of the Lot, Purchaser shall, within ten (10) business days from the effective date of this Agreement (being that date upon which Seller signs this Agreement), apply to one or more lending institutions for such loan and deliver to Seller a letter from such a lender stating that Purchaser is prequalified for such loan, and Purchaser agrees to perform all of the following acts (herein called the "Mortgage Loan Acts"): to use Purchaser's best efforts to obtain the mortgage loan in good faith; to execute and deliver all necessary documents and disclose all information, to pay any and all costs, charges and expenses in connection with the mortgage loan; to otherwise promptly and diligently comply with all requests of the mortgagee and/or Seller to apply for, obtain and close the mortgage loan; and, where deemed necessary by Seller, to make further applications for a mortgage loan. It is understood that Purchaser may be required to pay a loan fee for such loan. Purchaser acknowledges and agrees that although Seller may have made arrangements with an institutional lender to make financing generally available for the purchase of lots in the Subdivision, Seller makes no representation or warranty that any such lender will commit to a loan to Purchaser, or, if such a commitment is made, that the lender will make the loan or that such loan will be on any specific terms or conditions. It is Purchaser's sole and complete responsibility to obtain a satisfactory loan. Seller shall have no obligation to arrange for Purchaser's mortgage or other financing, and Purchaser acknowledges and agrees that Seller is not an arranger of credit within the meaning of the Consumer Credit Protection Act or the rules and regulations promulgated thereunder. An executed copy of the loan commitment obtained by Purchaser shall be delivered to Seller immediately upon receipt by Xxxxxxxxx, but no later than thirty (30) days after loan application by Purchaser.
Funds for Purchase. (i) In the event the Buyer wishes to finance the purchase of the Apartment, the Buyer shall, within 10 business days from the effective date of this Agreement, apply to one or more lending institutions for such loan and the Buyer agrees to perform all of the following acts (herein called the "Mortgage Loan Acts"): To use his best efforts to obtain the mortgage loan in good faith; to execute and deliver all necessary documents and disclose all information; to pay any and all costs, charges and expenses in connection with the mortgage loan; to otherwise promptly and diligently comply with all requests of the mortgagee and/or the Seller to apply for, obtain and close the mortgage loan; and, where deemed necessary by the Seller, to make further applications for a mortgage loan. It is understood that the Buyer may be required to pay a loan fee for such loan. The Buyer acknowledges that the Seller has made financing
Funds for Purchase. In the event that Trustee has elected to purchase shares pursuant to (bb) above, Trustee shall notify each of the non-selling Shareholders of such election as soon as is practicable. Each non-selling Shareholder shall have the right to purchase such Shares in an amount proportionate to the number of Shares held under this Agreement owned by such Shareholder, and any such Shares shall be held pursuant to this Agreement.
Funds for Purchase. The requirements of this Section A shall only apply if Seller requires Buyer to comply with them.
Funds for Purchase. WAIOHA II
Funds for Purchase
