Common use of MORTGAGE CONTINGENCY Clause in Contracts

MORTGAGE CONTINGENCY. This Contract is contingent upon Buyer securing by , 20 ("First Commitment Date") a 31 firm written mortgage commitment for a fixed rate or an adjustable rate mortgage permitted to be made by a U.S. or Illinois savings and loan 32 association, bank, or other authorized financial institution, in the amount of (strike one) $ OR % [percent] of the Purchase 33 Price, the interest rate (or initial interest rate if an adjustable rate mortgage) not to exceed % per year, amortized over years, payable 34 monthly, loan fee not to exceed %, plus appraisal and credit report fee, if any ("Required Commitment"). If the mortgage secured by the 35 Required Commitment has a balloon payment, it shall be due no sooner than years. Buyer shall pay for private mortgage insurance as required 36 by the lending institution. If a FHA or VA mortgage is to be obtained, Rider 8, Rider 9, or the HUD Rider shall be attached to this

MORTGAGE CONTINGENCY. This Contract is contingent upon Buyer securing by , 20 ("First Commitment Date") a 31 34 firm written mortgage commitment for a fixed rate or an adjustable rate mortgage permitted to be made by a U.S. or Illinois savings and loan 32 35 association, bank, or other authorized financial institution, in the amount of (strike one) $ OR % [percent] of the Purchase 33 Price, 36 the interest rate (or initial interest rate if an adjustable rate mortgage) not to exceed % per year, amortized over years, payable 34 monthly, 37 loan fee not to exceed %, plus appraisal and credit report fee, if any ("Required Commitment"). If the mortgage secured by the 35 Required 38 Commitment has a balloon payment, it shall be due no sooner than years. Buyer shall pay for private mortgage insurance as required 36 by the (1) If 40 Buyer is unable to obtain the Required Commitment by the lending institution. If a FHA First Commitment Date, Buyer shall so notify Seller in writing on or VA mortgage is to be obtained, Rider 8, Rider 9, or the HUD Rider shall be attached to thisbefore that Date.

MORTGAGE CONTINGENCY. This Contract is contingent upon Buyer securing by , 20 ("First Commitment Date") a 31 firm 24 written mortgage commitment for a fixed rate or an adjustable rate mortgage permitted to be made by a U.S. or Illinois savings and loan 32 association, 25 bank, or other authorized financial institution, in the amount of (strike one) $ OR % [percent] of the Purchase 33 Price, the 26 interest rate (or initial interest rate if an adjustable rate mortgage) not to exceed % per year, amortized over years, payable 34 monthly, loan 27 fee not to exceed %, plus appraisal and credit report fee, if any ("Required Commitment"). If the mortgage secured by the 35 Required 28 Commitment has a balloon payment, it shall be due no sooner than years. Buyer shall pay for private mortgage insurance as required 36 by the (1) 30 If Buyer is unable to obtain the Required Commitment by the lending institution. If a FHA First Commitment Date, Buyer shall so notify Seller in writing on or VA mortgage is to be obtained, Rider 8, Rider 9, or the HUD Rider shall be attached to thisbefore that Date.

MORTGAGE CONTINGENCY. This Contract is contingent upon Buyer securing by , 20 ("First Commitment Date") a 31 firm 32 written mortgage commitment for a fixed rate or an adjustable rate mortgage permitted to be made by a U.S. or Illinois savings and loan 32 association, 33 bank, or other authorized financial institution, in the amount of (strike one) $ OR % [percent] of the Purchase 33 Price, the 34 interest rate (or initial interest rate if an adjustable rate mortgage) not to exceed % per year, amortized over years, payable 34 monthly, loan 35 fee not to exceed %, plus appraisal and credit report fee, if any ("Required Commitment"). If the mortgage secured by the 35 Required 36 Commitment has a balloon payment, it shall be due no sooner than years. Buyer shall pay for private mortgage insurance as required 36 by the (1) 38 If Buyer is unable to obtain the Required Commitment by the lending institution. If a FHA First Commitment Date, Buyer shall so notify Seller in writing on or VA mortgage is to be obtained, Rider 8, Rider 9, or the HUD Rider shall be attached to thisbefore that Date.

MORTGAGE CONTINGENCY. This Contract is contingent upon Buyer securing by , 20 ("First Commitment Date") a 31 firm 17 written mortgage commitment for a fixed rate or an adjustable rate mortgage permitted to be made by a U.S. or Illinois savings and loan 32 association, 18 bank, or other authorized financial institution, in the amount of (strike one) $ OR % [percent] of the Purchase 33 Price, the 19 interest rate (or initial interest rate if an adjustable rate mortgage) not to exceed % per year, amortized over years, payable 34 monthly, 20 loan fee not to exceed %, plus appraisal and credit report fee, if any ("Required Commitment"). If the mortgage secured by the 35 Required 21 Commitment has a balloon payment, it shall be due no sooner than years. Buyer shall pay for private mortgage insurance as required 36 by the (1) 23 If Buyer is unable to obtain the Required Commitment by the lending institution. If a FHA First Commitment Date, Buyer shall so notify Seller in writing on or VA mortgage is to be obtained, Rider 8, Rider 9, or the HUD Rider shall be attached to thisbefore that Date.