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rA <br />ANY EARNEST MONEY DEPOSITED BY BUYER IN A TRUST ACCOUNT MAY BE <br />PLACED I.N AN INTEREST BEARING TRUST ACCOUNT, AND: (check only ONE box) <br />ANY INTEREST EARNED THEREON SHALL BE APPLIED AS PART PAYAWNT OF <br />THE PURCHASE PRICE OF THE PROPERTY AT CLOSING, OR DISBURSED AS AGREED <br />UPON UNDER THE PROVISIONS OF SECTION 10 HEREIN. (Buyer's Taxpayer Identification <br />Number is: ) <br />IM ANY INTEREST EARNED THEREON SHALL BELONG TO THE ACCOUNT HOLDER <br />IN CONSIDERATION OF THE EXPENSES INCURRED BY MAINTAINING SUCH ACCOUNT <br />AND RECORDS ASSOCIATED THEREWITH. <br />(ii) Proceeds of a new loan in the amount of <br />Dollars <br />for a term of years, with an amortization period not to exceed years, at an interest rate <br />not to exceed % per annum with mortga a to discount points not to exceed % <br />of the loan amount, Buyer shall pay all costs <br />associated with any such loan. <br />(iv) Assumption of that unpaid obligation of Seller secured by a deed of trust on the Property, such <br />obligation having an outstanding principal balance of $ and evidenced <br />by a note bearing interest at the rate of percent <br />( %) per annum, and a current payment amount of $ <br />$ <br />189,900-00 (v) Cash, balance of Purchase Price, at Closing in the amount of One Hundred Eighty -Nine <br />Thousand, Nine Hundred Dollars. <br />(c) "CloshqC shall mean the date of completion of the process detailed in Section 11 of this Agreement. Closing shall occur on <br />or before or 120 days from Contract Date <br />(d) "Contract Date" means the date this Agreement has been fully executed by both Buyer and Seller. <br />(e) "Examination Period" shall mean the period beginning on the first day after the Contract Date and extending through <br />5 :00pm (based upon time at the locale of the Property) on <br />90 days from Contract Date <br />TIME IS OF THE ESSENCE AS TO THE EXAMINATION PERIOD. <br />P e_ f8 <br />Buyer Initials _ Seller Initialase�- STANDARD FORM 580 -T <br />Revised. 7/2017 <br />© 712017 <br />Produced with zlpForme by zipLogix 18070 Fifteon Mile Road, Fraser, Michigan 48026 www.zipLoaix.com MO-PS-orange <br />