Common use of Mortgage Loan Proceeds Clause in Contracts

Mortgage Loan Proceeds. This Contract is contingent upon Buyer’s ability to obtain a third party first mortgage loan to be secured by the Property, in a principal amount of [check one]  US$ or  % of the purchase price, being amortized over a term of years, at an interest rate per annum that is [check one]  fixed at a rate not to exceed %; or  adjustable beginning at a rate not to exceed % with the interest rate never to exceed %, pursuant to an institutional lender’s standard and customary underwriting criteria. The balance of the purchase price shall be paid by Buyer in cash, or in such other form as may be required by the Closing Attorney listed below, at time of Closing.

Mortgage Loan Proceeds. This Contract is contingent upon Buyer’s ability to obtain a third party first mortgage loan to be secured by the Property, in a principal amount of [check one]  US$ _ or  % of the purchase price, being amortized over a term of _ years, at an interest rate per annum that is [check one]  fixed at a rate not to exceed _%; or  adjustable beginning at a rate not to exceed _% with the interest rate never to exceed _%, pursuant to an institutional lender’s standard and customary underwriting criteria. The balance of the purchase price shall be paid by Buyer in cash, or in such other form as may be required by the Closing Attorney listed below, at time of Closing.

Mortgage Loan Proceeds. This Contract is contingent upon Buyer’s ability to obtain a third party first mortgage loan to be secured by the Property, in a principal amount of [check one]  □ US$ _ or  □ % of the purchase price, being amortized over a term of years, at an interest rate per annum that is [check one]  □ fixed at a rate not to exceed %; or  □ adjustable beginning at a rate not to exceed % with the interest rate never to exceed %, pursuant to an institutional lender’s standard and customary underwriting criteria. The balance of the purchase price shall be paid by Buyer in cash, or in such other form as may be required by the Closing Attorney listed below, at time of Closing.

Mortgage Loan Proceeds. This Contract is contingent upon Buyer’s ability to obtain a third party first mortgage loan to be secured by the Property, in a principal amount of no less than [check one]  □ US$ or  □ % of the purchase price, being amortized over a term of years, at an interest rate per annum that is [check one]  □ fixed at a rate not to exceed %; or  □ adjustable beginning at a rate not to exceed % with the interest rate never to exceed %, pursuant to an institutional lender’s standard and customary underwriting criteria. The balance of the purchase price shall be paid by Buyer in cash, or in such other form as may be required by the Closing Attorney listed below, at time of Closing.