Common use of SELLER TERMINATION RIGHTS Clause in Contracts

SELLER TERMINATION RIGHTS. If Buyer does not make timely delivery of said commitment; Seller may terminate this Offer if Seller delivers 257 a written notice of termination to Buyer prior to Seller's Actual Receipt of a copy of Xxxxx's written loan commitment. 258 ■ FINANCING UNAVAILABILITY: If financing is not available on the terms stated in this Offer (and Xxxxx has not already delivered an 259 acceptable loan commitment for other financing to Seller), Buyer shall promptly deliver written notice to Seller of same including copies of 260 lender(s)' rejection letter(s) or other evidence of unavailability. Unless a specific loan source is named in this Offer, Seller shall then have 10 days 261 to deliver to Buyer written notice of Xxxxxx's decision to finance this transaction on the same terms set forth in this Offer, and this Offer shall remain 262 in full force and effect, with the time for closing extended accordingly. If Seller's notice is not timely given, this Offer shall be null and void. Buyer 263 authorizes Seller to obtain any credit information reasonably appropriate to determine Xxxxx's credit worthiness for Seller financing. 264 ■ IF THIS OFFER IS NOT CONTINGENT ON FINANCING: Within 7 days of acceptance, a financial institution or third party in control of Buyer’s 265 funds shall provide Seller with reasonable written verification that Xxxxx has, at the time of verification, sufficient funds to close. If such written 266 verification is not provided, Seller has the right to terminate this Offer by delivering written notice to Xxxxx. Buyer may or may not obtain mortgage 267 financing but does not need the protection of a financing contingency. Seller agrees to allow Xxxxx’s appraiser access to the Property for 268 purposes of an appraisal. Xxxxx understands and agrees that this Offer is not subject to the appraisal meeting any particular value, unless this 269 Offer is subject to an appraisal contingency, nor does the right of access for an appraisal constitute a financing contingency.

SELLER TERMINATION RIGHTS. If Buyer does not make timely delivery of said the loan commitment; , Seller may terminate this Offer if provided that 176 Seller delivers 257 a written notice of termination to Buyer prior to Seller's Actual Receipt ’s actual receipt of a copy of Xxxxx's Bxxxx’s written loan commitment. 258 ■ 177 NOTE: IF PURCHASE IS CONDITIONED ON BUYER OBTAINING FINANCING UNAVAILABILITYFOR OPERATIONS OR DEVELOPMENT CONSIDER ADDING 178 A CONTINGENCY FOR THAT PURPOSE. 179 TITLE EVIDENCE 180 n CONVEYANCE OF TITLE: If financing is not available on Upon payment of the terms stated in this Offer (and Xxxxx has not already delivered an 259 acceptable loan commitment for other financing to Seller), Buyer shall promptly deliver written notice to Seller of same including copies of 260 lender(s)' rejection letter(s) or other evidence of unavailability. Unless a specific loan source is named in this Offerpurchase price, Seller shall then have 10 days 261 convey the Property by special warranty deed (or other 181 conveyance as 182 provided herein) free and clear of all liens and encumbrances, except: municipal and zoning ordinances and agreements entered under them, 183 recorded easements for the distribution of utility and municipal services, recorded building and use restrictions and covenants, general taxes levied 184 in the year of closing and those shown on title commitment to deliver be provided (except those, such as mortgages and judgment liens, that can be 185 satisfied by payment of money will not be appropriate exceptions to title at Closing) (if Bxxxx wants to remove survey exceptions, it shall obtain 186 a survey) (provided none of the foregoing prohibit present use of the Property as a medical clinic), which constitutes merchantable title for 187 purposes of this transaction. Sxxxxx further agrees to complete and execute the documents necessary to record the conveyance. WARNING: If 188 Buyer written notice contemplates improving or developing Property, or a change in use, Buyer may need to address municipal and zoning 189 ordinances, recorded building and use restrictions, covenants and easements which may prohibit some improvements or uses. The 190 need for building permits, zoning variances, environmental audits, etc., may need to be investigated to determine feasibility of Xxxxxx's decision 191 improvements, development or use changes for Property. Contingencies for investigation of these issues may be added to finance this transaction on the same terms set forth in this Offer. 192 See lines 293 to 298. 193 n FORM OF TITLE EVIDENCE: Seller shall give evidence of title in the form of an owner’s policy of title insurance in the amount of the purchase 194 price on a current ALTA form issued by an insurer licensed to write title insurance in Wisconsin. CAUTION: IF TITLE EVIDENCE WILL BE GIVEN 195 BY ABSTRACT, and this Offer STRIKE TITLE INSURANCE PROVISIONS AND INSERT ABSTRACT PROVISIONS. 196 n PROVISION OF MERCHANTABLE TITLE: Seller shall remain 262 in full force and effectpay all costs of providing title evidence. For purposes of closing, with the time for closing extended accordingly. If Seller's notice is not timely given, this Offer title evidence shall be null and void. Buyer 263 authorizes Seller 197 acceptable if the commitment for the required title insurance is delivered to obtain any credit information reasonably appropriate to determine Xxxxx's credit worthiness for Seller financing. 264 ■ IF THIS OFFER IS NOT CONTINGENT ON FINANCING: Within 7 days of acceptance, a financial institution or third party in control of Buyer’s 265 funds shall provide Seller with reasonable written verification that Xxxxx hasattorney or Buyer not less than 3 business days before closing, at the time of verification, sufficient funds to close. If such written 266 verification is not provided, Seller has the right to terminate this Offer by delivering written notice to Xxxxx. Buyer may or may not obtain mortgage 267 financing but does not need the protection of a financing contingency. Seller agrees to allow Xxxxx’s appraiser access 198 showing title to the Property for 268 purposes as of an appraisal. Xxxxx understands a date no more than 15 days before delivery of such title evidence to be merchantable updated through 199 Closing by a GAP endorsement, subject only to liens which will be paid out of the proceeds of closing and agrees that this Offer is not subject to the appraisal meeting any particular valuestandard abstract certificate 200 limitations or standard title insurance requirements and exceptions, unless this 269 Offer is subject to an appraisal contingency, nor does the right of access for an appraisal constitute a financing contingencyas appropriate.

SELLER TERMINATION RIGHTS. If Buyer does not make timely delivery of said commitment; Seller may terminate this Offer if Seller delivers 257 a written notice of termination to Buyer prior to Seller's Actual Receipt of a copy of Xxxxx's written loan commitment. 258 ■ FINANCING UNAVAILABILITY: If financing is not available on the terms stated in this Offer (and Xxxxx has not already delivered an 259 acceptable loan commitment for other financing to Seller), Buyer shall promptly deliver written notice to Seller of same including copies of 260 lender(s)' rejection letter(s) or other evidence of unavailability. Unless a specific loan source is named in this Offer, Seller shall then have 10 days 261 to deliver to Buyer written notice of Xxxxxx's decision to finance this transaction on the same terms set forth in this Offer, and this Offer shall remain 262 in full force and effect, with the time for closing extended accordingly. If Seller's notice is not timely given, this Offer shall be null and void. Buyer 263 authorizes Seller to obtain any credit information reasonably appropriate to determine Xxxxx's credit worthiness for Seller financing. 264 ■ IF THIS OFFER IS NOT CONTINGENT ON FINANCING: Within 7 days of acceptance, a financial institution or third party in control of BuyerXxxxx’s 265 funds shall provide Seller with reasonable written verification that Xxxxx has, at the time of verification, sufficient funds to close. If such written 266 verification is not provided, Seller has the right to terminate this Offer by delivering written notice to Xxxxx. Buyer may or may not obtain mortgage 267 financing but does not need the protection of a financing contingency. Seller agrees to allow Xxxxx’s appraiser access to the Property for 268 purposes of an appraisal. Xxxxx understands and agrees that this Offer is not subject to the appraisal meeting any particular value, unless this 269 Offer is subject to an appraisal contingency, nor does the right of access for an appraisal constitute a financing contingency.