Common use of Mortgage Contingency Clause in Contracts

Mortgage Contingency. a. This agreement is contingent upon Buyer obtaining approval of a: Conventional FHA VA (if FHA or VA, see attached required addendum) or _mortgage loan of $ _, or % of purchase price at prevailing rate of interest. Xxxxx agrees to use diligent efforts to obtain said approval and shall apply for the mortgage loan within three (3) business days after attorney approval. Xxxxx agrees to apply for such mortgage loan to at least one lending institution or licensed mortgage broker. Upon receipt of a written mortgage commitment or in the event Xxxxx chooses to waive this mortgage contingency, Xxxxx shall provide notice in writing to Xxxxx’s attorney and Xxxxxxx broker of Xxxxx's receipt of the mortgage commitment or of Xxxxx's waiving of this contingency. Upon receipt of such notice this contingency shall be deemed waived or satisfied as the case may be. In the event notice as called for in the preceding sentence has not been received on or before _, then either Buyer or Seller may terminate, or the parties may mutually agree to extend, this contract by written notice to Xxxxx’s attorney and Xxxxx’s broker. Upon receipt of termination notice from either party, and in the case of notice by the Buyer, proof of Xxxxx's inability to obtain said mortgage approval, this agreement shall be cancelled, null and void and all deposits made hereunder shall be returned to the Buyer. If Buyer does not receive clear to close by Xxxxx’s lender within twenty (20) business days of the Commitment Date, then upon no less than three (3) business days notice at any time thereafter, Seller may terminate this contract by written notice to Buyer in accordance with Paragraph #25 of this contract.

Mortgage Contingency. a. This agreement is contingent upon Buyer Purchaser obtaining approval of a: Conventional FHA VA (if a Conventional, FHA or VA, see attached required addendum) or _VA mortgage loan of $ _, for a term of no more than 20/30/40 years at an initial fixed or adjustable nominal interest rate not to exceed % of purchase price at prevailing rate of interest(percent). Xxxxx Purchaser agrees to use diligent efforts to obtain said approval and shall apply for the mortgage loan within three (3) business days after attorney approvalthe Seller has accepted this contract. Xxxxx Purchaser agrees to apply for such mortgage loan to at least one lending institution or licensed mortgage broker. Upon receipt of a written mortgage commitment or in the event Xxxxx Purchaser chooses to waive this mortgage contingency, Xxxxx Purchaser shall provide notice in writing to Xxxxxof Purchaser’s attorney and Xxxxxxx broker of Xxxxx's receipt of the mortgage commitment or of Xxxxx's Purchaser’s waiving of this contingency. Upon receipt of such notice this contingency shall be deemed waived or satisfied as the case may be. In the event notice as called for in the preceding sentence has not been received on or before _, then either Buyer Purchaser or Seller may within five business days of such date terminate, or the parties may mutually agree to extend, this contract by written notice to Xxxxx’s attorney and Xxxxx’s broker. Upon receipt of termination notice from either party, and in the case of notice by the BuyerPurchaser, proof of Xxxxx's Purchaser’s inability to obtain said mortgage approval, this agreement shall be cancelled, null and void void, and all deposits made hereunder shall be returned to the Buyer. If Buyer does not receive clear to close by Xxxxx’s lender within twenty (20) business days of the Commitment Date, then upon no less than three (3) business days notice at any time thereafter, Seller may terminate this contract by written notice to Buyer in accordance with Paragraph #25 of this contractPurchaser.

Mortgage Contingency. a. A. This agreement is contingent upon Buyer Purchaser obtaining approval of a: Conventional a conventional, FHA or VA (if FHA or VA, see attached required addendum) or _mortgage loan of $ _, for a term of not more than years at an initial fixed or % of purchase price at prevailing adjustable nominal interest rate of interestnot to exceed percent. Xxxxx Purchaser agrees to use diligent efforts to obtain said approval and shall apply for the mortgage loan within three (3) business days after attorney approvalthe Seller has accepted this contract. Xxxxx Xxxxxxxxx agrees to apply for such a mortgage loan to at least one lending institution or licensed mortgage broker. Upon receipt of a written mortgage commitment or in the event Xxxxx Purchaser chooses to waive this mortgage contingency, Xxxxx Purchaser shall provide notice in writing to Xxxxxof Purchaser’s attorney and Xxxxxxx broker of Xxxxx's receipt of the mortgage commitment or of Xxxxx's Purchaser’s waiving of this contingency. Upon receipt of such notice this contingency shall be deemed waived or satisfied as the case may be. In the event notice as called for in the preceding proceeding sentence has not been received on or before _, then either Buyer Purchaser or Seller may terminate, or the parties may mutually agree to extend, terminate this contract by written notice to Xxxxx’s attorney and Xxxxx’s broker. Upon receipt of termination notice from either party, and in the case of notice by the Buyer, proof of Xxxxx's inability to obtain said mortgage approvalsuch notice, this agreement shall be deemed cancelled, null and void and all deposits made hereunder shall be returned to the Buyer. If Buyer does not receive clear to close by Xxxxx’s lender within twenty (20) business days of the Commitment Date, then upon no less than three (3) business days notice at any time thereafter, Seller may terminate this contract by written notice to Buyer in accordance with Paragraph #25 of this contractPurchaser.

Mortgage Contingency. a. A. This agreement Agreement is contingent upon Buyer Purchaser obtaining approval of a: Conventional a conventional, FHA or VA (if FHA or VA, VA see attached required addendum) or _mortgage loan of $ _, for a term of not more than years at an initial fixed or % of purchase price at prevailing adjustable nominal interest rate of interestnot to exceed percent. Xxxxx Purchaser agrees to use diligent efforts to obtain said approval and shall apply for the mortgage loan within three (3) business days after attorney approvalthe Seller has accepted this contract. Xxxxx Purchaser agrees to apply for such mortgage loan to at least one lending institution or licensed mortgage broker. Upon receipt of a written mortgage commitment or in the event Xxxxx Purchaser chooses to waive this mortgage contingency, Xxxxx Purchaser shall provide notice in writing to Xxxxx’s attorney and Xxxxxxx broker of XxxxxPurchaser's receipt of the mortgage commitment or of XxxxxPurchaser's waiving of this contingency. Upon receipt of such notice this contingency shall be deemed waived or satisfied as the case may be. In the event notice as called for in the preceding sentence has not been received on or before _, then either Buyer Purchaser or Seller may terminate, or the parties may mutually agree to extend, within five business days of such date terminate this contract by written notice to Xxxxx’s attorney and Xxxxx’s broker. Upon receipt of termination notice from either party, and in the case of notice by the Buyer, proof of Xxxxx's inability to obtain said mortgage approvalsuch notice, this agreement shall be deemed cancelled, null and void and all deposits made hereunder shall be returned to the Buyer. If Buyer does not receive clear to close by Xxxxx’s lender within twenty (20) business days of the Commitment Date, then upon no less than three (3) business days notice at any time thereafter, Seller may terminate this contract by written notice to Buyer in accordance with Paragraph #25 of this contractPurchaser.

Mortgage Contingency. a. This agreement Contract is contingent upon Buyer Purchaser obtaining approval of a: Conventional a Conventional, FHA or VA (if FHA or VA, see attached required addendum) or _mortgage loan of $ _, for a term of not more than years at an initial fixed or % of purchase price adjustable nominal interest rate not to exceed percent or at the prevailing rate of interestrate. Xxxxx Purchaser agrees to use diligent efforts to obtain said approval and shall apply for the mortgage loan within three (3) business days after attorney approvalthe Seller has accepted this contract. Xxxxx Purchaser agrees to apply for such mortgage loan to at least one lending institution or licensed mortgage broker. Upon receipt of a written mortgage commitment without conditions by the Purchaser or in the event Xxxxx Purchaser chooses to waive this mortgage contingency, Xxxxx Purchaser shall provide notice in writing to Xxxxx’s attorney of Purchaser's acceptance and Xxxxxxx broker of Xxxxx's receipt execution of the mortgage commitment or of XxxxxPurchaser's waiving of this contingency. Upon receipt of such notice this contingency shall be deemed waived or satisfied as the case may be. In the event notice as called for in the preceding sentence has not been received on or before _, then either Buyer Purchaser or Seller may within five business days of such date terminate, or the parties may mutually agree to extend, this contract by written notice to Xxxxx’s attorney and Xxxxx’s broker. Upon receipt of termination notice from either party, and in the case of notice by the BuyerPurchaser, proof of XxxxxPurchaser's inability to obtain said mortgage approval, this agreement contract shall be cancelled, null and void and all deposits made hereunder shall be returned to the Buyer. If Buyer does not receive clear to close by Xxxxx’s lender within twenty (20) business days of the Commitment Date, then upon no less than three (3) business days notice at any time thereafter, Seller may terminate this contract by written notice to Buyer in accordance with Paragraph #25 of this contractPurchaser.

Mortgage Contingency. a. A. This agreement is contingent upon Buyer Purchaser obtaining approval of a: Conventional a Conventional, FHA or VA (if FHA or VA, see attached required addendum) or _mortgage loan of $ _, for a term of not more than years at an initial fixed or % of purchase price at prevailing adjustable nominal interest rate of interestnot to exceed percent. Xxxxx Purchaser agrees to use diligent efforts to obtain said approval and shall apply for the mortgage loan within three (3) business days after attorney approvalthe Seller has accepted this contract. Xxxxx Purchaser agrees to apply for such mortgage loan to at least one lending institution or licensed mortgage broker. Upon receipt of a written mortgage commitment or in the event Xxxxx Purchaser chooses to waive this mortgage contingency, Xxxxx Purchaser shall provide notice in writing to Xxxxxof Purchaser’s attorney and Xxxxxxx broker of Xxxxx's receipt of the mortgage commitment or of Xxxxx's Purchaser’s waiving of this contingency. Upon receipt of such notice this contingency shall be deemed waived or satisfied as the case may be. In the event notice as called for in the preceding sentence has not been received on or before _, , then either Buyer Purchaser or Seller may within five business days of such date terminate, or the parties may mutually agree to extend, this contract by written notice to Xxxxx’s attorney and Xxxxx’s broker. Upon receipt of termination notice from either party, and in the case of notice by the BuyerPurchaser, proof of Xxxxx's Purchaser’s inability to obtain said mortgage approval, this agreement shall be cancelled, null and void and all deposits made hereunder shall be returned to the Buyer. If Buyer does not receive clear to close by Xxxxx’s lender within twenty (20) business days of the Commitment Date, then upon no less than three (3) business days notice at any time thereafter, Seller may terminate this contract by written notice to Buyer in accordance with Paragraph #25 of this contractPurchaser.

Mortgage Contingency. a. This agreement Contract is contingent upon Buyer Purchaser obtaining approval of a: Conventional a Conventional, FHA or VA (if FHA or VA, see attached required addendum) or _mortgage loan of $ for a term of not more than years at an initial fixed or _, adjustable nominal interest rate not to exceed percent or % of purchase price at the prevailing rate of interestrate. Xxxxx Purchaser agrees to use diligent efforts to obtain said approval and shall apply for the mortgage loan within three (3) business days after attorney approvalthe Seller has accepted this contract. Xxxxx Purchaser agrees to apply for such mortgage loan to at least one lending institution or licensed mortgage broker. Upon receipt of a written mortgage commitment without conditions by the Purchaser or in the event Xxxxx Purchaser chooses to waive this mortgage contingency, Xxxxx Purchaser shall provide notice in writing to Xxxxx’s attorney of Purchaser's acceptance and Xxxxxxx broker of Xxxxx's receipt execution of the mortgage commitment or of XxxxxPurchaser's waiving of this contingency. Upon receipt of such notice this contingency shall be deemed waived or satisfied as the case may be. In the event notice as called for in the preceding sentence has not been received on or before _, then either Buyer Purchaser or Seller may within five business days of such date terminate, or the parties may mutually agree to extend, this contract by written notice to Xxxxx’s attorney and Xxxxx’s broker. Upon receipt of termination notice from either party, and in the case of notice by the BuyerPurchaser, proof of XxxxxPurchaser's inability to obtain said mortgage approval, this agreement contract shall be cancelled, null and void and all deposits made hereunder shall be returned to the Buyer. If Buyer does not receive clear to close by Xxxxx’s lender within twenty (20) business days of the Commitment Date, then upon no less than three (3) business days notice at any time thereafter, Seller may terminate this contract by written notice to Buyer in accordance with Paragraph #25 of this contractPurchaser.

Mortgage Contingency. a. This agreement Contract is contingent upon Buyer Purchaser obtaining approval of a: Conventional a Conventional, FHA or VA (if FHA or VA, see attached required addendum) or _mortgage loan of $ _, for a term of not more than years at an initial fixed or % of purchase price adjustable nominal interest rate not to exceed percent or at the prevailing rate of interestrate. Xxxxx Purchaser agrees to use diligent efforts to obtain said approval and shall apply for the mortgage loan within three (3) business days after attorney approvalthe Seller has accepted this contract. Xxxxx Purchaser agrees to apply for such mortgage loan to at least one lending institution or licensed mortgage broker. Upon receipt of a written mortgage commitment without conditions by the Purchaser or in the event Xxxxx Purchaser chooses to waive this mortgage contingency, Xxxxx Purchaser shall provide notice in writing to Xxxxx’s attorney of Purchaser's acceptance and Xxxxxxx broker of Xxxxx's receipt execution of the mortgage commitment or of XxxxxPurchaser's waiving of this contingency. Upon receipt of such notice this contingency shall be deemed waived or satisfied as the case may be. In the event notice as called for in the preceding sentence has not been received on or before _, then either Buyer Purchaser or Seller may within five business days of such date terminate, or the parties may mutually agree to extend, this contract by written notice to Xxxxx’s attorney and Xxxxx’s broker. Upon receipt of termination notice from either party, and in the case of notice by the BuyerPurchaser, proof of XxxxxPurchaser's inability to obtain said mortgage approval, this agreement contract shall be cancelled, null and void and all deposits made hereunder shall be returned to the Buyer. If Buyer does not receive clear to close by Xxxxx’s lender within twenty (20) business days of the Commitment Date, then upon no less than three (3) business days notice at any time thereafter, Seller may terminate this contract by written notice to Buyer in accordance with Paragraph #25 of this contractPurchaser.

Mortgage Contingency. a. A. This agreement is contingent upon Buyer Purchaser obtaining approval of a: Conventional a Conventional, FHA or VA (if FHA or VA, see attached required addendum) or _mortgage loan of $ _, for a term of no more than years at an initial fixed or adjustable nominal interest rate not to exceed % of purchase price at prevailing rate of interest(percent). Xxxxx Purchaser agrees to use diligent efforts to obtain said approval and shall apply for the mortgage loan within three (3) business days after attorney approvalthe Seller has accepted this contract. Xxxxx Purchaser agrees to apply for such mortgage loan to at least one lending institution or licensed mortgage broker. Upon receipt of a written mortgage commitment or in the event Xxxxx Purchaser chooses to waive this mortgage contingency, Xxxxx Purchaser shall provide notice in writing to Xxxxxof Purchaser’s attorney and Xxxxxxx broker of Xxxxx's receipt of the mortgage commitment or of Xxxxx's Purchaser’s waiving of this contingency. Upon receipt of such notice this contingency shall be deemed waived or satisfied as the case may be. In the event notice as called for in the preceding sentence has not been received on or before _, , then either Buyer Purchaser or Seller may within five business days of such date terminate, or the parties may mutually agree to extend, this contract by written notice to Xxxxx’s attorney and Xxxxx’s broker. Upon receipt of termination notice from either party, and in the case of notice by the BuyerPurchaser, proof of Xxxxx's Purchaser’s inability to obtain said mortgage approval, this agreement shall be cancelled, null and void void, and all deposits made hereunder shall be returned to the Buyer. If Buyer does not receive clear to close by Xxxxx’s lender within twenty (20) business days of the Commitment Date, then upon no less than three (3) business days notice at any time thereafter, Seller may terminate this contract by written notice to Buyer in accordance with Paragraph #25 of this contractPurchaser.