Pennsylvania Association of Realtors Standard Agreement PDF

STANDARD AGREEMENT FOR THE SALE OF REAL ESTATE ASR This form recommended and approved for, but not restricted to use by, the members of the Pennsylvania Association of Realtors® (PAR). PARTIES BUYER(S): _____________________________________________ ________________________________________________________ ________________________________________________________ ________________________________________________________ SELLER(S): _____________________________________________ _________________________________________________________ _________________________________________________________ _________________________________________________________ BUYER’S MAILING ADDRESS: Make sure every AOS has buyer's address ________________________________________________________ ________________________________________________________ ________________________________________________________ SELLER’S MAILING ADDRESS: Check MLS public records or listing for seller's current mailing _________________________________________________________ address, not always the address of home listed _________________________________________________________ _________________________________________________________ _________________________________________________________ _________________________________________________________ PROPERTY Double check everything here is spelled correct, the city is included on first line ADDRESS (including postal city) city) ___________________________________________________________________________________ ADDRESS (including postal ___________________________________________________________________________________ and everything matches public records _________________________________________________________________________________ ZIP _________________________ , in the municipality of __________________________________________________________ , County of _________________________ , in the School District of __________________________________________________________ , in the Commonwealth of Pennsylvania. Tax ID #(s): _______________________________________________________________________________________________ and/or Identification (e.g., Parcel #; Lot, Block; Deed Book, Page, Recording Date): ________________________________________________ _______________________________________________________________________________________________________________ BUYER’S RELATIONSHIP WITH PA LICENSED BROKER No Business Relationship (Buyer is not represented by a broker) Broker (Company) Keller ______________________________________ Williams Platinum Realty ______________________________________ Company License # RB068762 _____________________________________ Company Address _______________________________________ 60 Commerce Dr, Wyomissing, Pa 19610 ________________________________________ Company Phone 610-898-1441 ________________________________________ Company Fax __________________________________________ Broker is (check only one): Buyer Agent (Broker represents Buyer only) Dual Agent (See Dual and/or Designated Agent box below) Licensee(s) (Name) _______________________________________ Buyer's agent information _______________________________________ State License # ___________________________________________ Direct Phone(s) ___________________________________________ Cell Phone(s)_____________________________________________ Email ___________________________________________________ Licensee(s) is (check only one): Buyer Agent (all company licensees represent Buyer) Buyer Agent with Designated Agency (only Licensee(s) named above represent Buyer) Dual Agent (See Dual and/or Designated Agent box below) Transaction Licensee (Broker and Licensee(s) provide real estate services but do not represent Buyer) SELLER’S RELATIONSHIP WITH PA LICENSED BROKER No Business Relationship (Seller is not represented by a broker) Listing/ Selling brokerage information Broker (Company) ______________________________________ ______________________________________ Company License # _____________________________________ Company Address _______________________________________ ________________________________________ Company Phone ________________________________________ Company Fax __________________________________________ Broker is (check only one): Seller Agent (Broker represents Seller only) Dual Agent (See Dual and/or Designated Agent box below) Listing/ seller's agent information Licensee(s) (Name) _______________________________________ _______________________________________ State License # ___________________________________________ Direct Phone(s) ___________________________________________ Cell Phone(s)_____________________________________________ Email ___________________________________________________ Licensee(s) is (check only one): Seller Agent (all company licensees represent Seller) Seller Agent with Designated Agency (only Licensee(s) named above represent Seller) Dual Agent (See Dual and/or Designated Agent box below) Transaction Licensee (Broker and Licensee(s) provide real estate services but do not represent Seller) DUAL AND/OR DESIGNATED AGENCY A Broker is a Dual Agent when a Broker represents both Buyer and Seller in the same transaction. A Licensee is a Dual Agent when a Licensee represents Buyer and Seller in the same transaction. All of Broker’s licensees are also Dual Agents UNLESS there are separate Designated Agents for Buyer and Seller. If the same Licensee is designated for Buyer and Seller, the Licensee is a Dual Agent. By signing this Agreement, Buyer and Seller each acknowledge having been previously informed of, and consented to, dual agency, if applicable. Buyer Initials:__________________ ASR Page 1 of 14 Seller Initials:_________________ COPYRIGHT PENNSYLVANIA ASSOCIATION OF REALTORS® 2023 rev. 9/22; rel. 1/23 Date AOS was written By this Agreement, dated, ______________________________________________________________________ 1 1. 2 Seller hereby agrees to sell and convey to Buyer, who agrees to purchase, the identified Property. 2. PURCHASE PRICE AND DEPOSITS (4-14) (A) Purchase Price $ Purchase/ contract price- make sure if there were changes it has ALL parties initals and date ( U.S. Dollars), to be paid by Buyer as follows: Check EMD days here 1. Initial days Initial Deposit, Deposit, within within days(5 (5ifif not notspecified) specified)ofofExecution ExecutionDate, Date, EMD amount if not included with this Agreement: $_____________________________________ 2. Additional Deposit within days of the Execution Date: $_____________________________________ 3. $_____________________________________ Remaining balance will be paid at settlement. (B) All funds paid by Buyer, including deposits, will be paid by check, cashier’s check or wired funds. All funds paid by Buyer within 30 days of settlement, including funds paid at settlement, will be by cashier’s check or wired funds, but not by personal check. (C) Deposits, regardless of the form of payment, will be paid in U.S. Dollars to Broker for Seller (unless otherwise stated here: ___ Info if listing broker is NOT holding EMD _____________________________________________________________________________________________________ ), who will retain deposits in an escrow account in conformity with all applicable laws and regulations until consummation or termination of this Agreement. Only real estate brokers are required to hold deposits in accordance with the rules and regulations of the State Real Estate Commission. Checks tendered as deposit monies may be held uncashed pending the execution of this Agreement. 3. SELLER ASSIST (If Applicable) (1-10) Seller will pay $___________________________________ or _______________ % of Purchase Price (0 if not specified) toward Seller's assist % or $ Buyer’s costs, as permitted by the mortgage lender, if any. Seller is only obligated to pay up to the amount or percentage which is approved by mortgage lender. 4. SETTLEMENT AND POSSESSION (1-23) SETTLEMENT DATE (A) Settlement Date is__________________________________________________________, or before if Buyer and Seller agree. (B) Settlement will occur in the county where the Property is located or in an adjacent county, during normal business hours, unless Buyer and Seller agree otherwise. (C) At time of settlement, the following will be pro-rated on a daily basis between Buyer and Seller, reimbursing where applicable: current taxes; rents; interest on mortgage assumptions; condominium fees and homeowner association fees; water and/or sewer fees, together with any other lienable municipal service fees. All charges will be prorated for the period(s) covered. Seller will pay up to and including the date of settlement and Buyer will pay for all days following settlement, unless otherwise stated here: _____________________________________________________________________________________________________ (D) For purposes of prorating real estate taxes, the “periods covered” are as follows: 1. Municipal tax bills for all counties and municipalities in Pennsylvania are for the period from January 1 to December 31. 2. School tax bills for the Philadelphia, Pittsburgh and Scranton School Districts are for the period from January 1 to December 31. School tax bills for all other school districts are for the period from July 1 to June 30. (E) Conveyance from Seller will be by fee simple deed of special warranty unless otherwise stated here: ____________________ _____________________________________________________________________________________________________ (F) Payment of transfer taxes will be divided equally between Buyer and Seller unless otherwise stated here: _________________ If seller or buyer are paying both sides of transfer tax _____________________________________________________________________________________________________ (G) Possession is to be delivered by deed, existing keys and physical possession to a vacant Property free of debris, with all structures broom-clean, at day and time of settlement, unless Seller, before signing this Agreement, has identified in writing that the Property is subject to a lease. (H) If Seller has identified in writing that the Property is subject to a lease or short-term rental agreement, possession is to be delivered by deed, existing keys and assignment of existing leases and short-term rental agreements for the Property, together with security deposits and interest, if any, at day and time of settlement. Seller will not enter into any new leases or short-term rental agreements, nor extend existing leases or short-term rental agreements, for the Property without the written consent of Buyer. Buyer will acknowledge existing lease(s) or short-term rental agreement(s) by initialing the lease(s) or short-term rental agreement(s) at the execution of this Agreement, unless otherwise stated in this Agreement. Tenant-Occupied Property Addendum (PAR Form TOP) is attached and made part of this Agreement. 5. DATES/TIME IS OF THE ESSENCE (1-10) Acceptance date (must match executed date) (A) Written Written acceptance of all parties (A) acceptance of parties will willbe beon onororbefore: before:____________________________________________________________ ____________________________________________________________ (B) The Settlement Date and all other dates and times identified for the performance of any obligations of this Agreement are of the essence and are binding. (C) The Execution Date of this Agreement is the date when Buyer and Seller have indicated full acceptance of this Agreement by signing and/or initialing it. For purposes of this Agreement, the number of days will be counted from the Execution Date, excluding the day this Agreement was executed and including the last day of the time period. All changes to this Agreement should be initialed and dated. (D) The Settlement Date is not extended by any other provision of this Agreement and may only be extended by mutual written agreement of the parties. (E) Certain terms and time periods are pre-printed in this Agreement as a convenience to the Buyer and Seller. All pre-printed terms and time periods are negotiable and may be changed by striking out the pre-printed text and inserting different terms acceptable to all parties, except where restricted by law. 3 4 5 5 6 7 8 9 10 11 12 13 14 15 _____________________________________________________________________________________________________ 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 51 52 53 54 55 56 57 58 59 60 61 62 63 64 Buyer Initials:______________________ ASR Page 2 of 14 Seller Initials:______________________ 6. ZONING (4-14) Failure of this Agreement to contain the zoning classification (except in cases where the property {and each parcel thereof, if subdi67 vidable} is zoned solely or primarily to permit single-family dwellings) will render this Agreement voidable at Buyer’s option, and, if 68 voided, any deposits tendered by the Buyer will be returned to the Buyer without any requirement for court action. 69 Zoning Classification, as set forth in the local zoning ordinance: ___________________________________________________ RES THIS MUST NOT BE BLANK! 70 7. FIXTURES AND PERSONAL PROPERTY (1-20) 71 (A) It is possible for certain items of personal property to be so integrated into the Property that they become fixtures and will be 72 regarded as part of the Property and therefore included in a sale. Buyer and Seller are encouraged to be specific when negotiating 73 what items will be included or excluded in this sale. 74 (B) INCLUDED in this sale, unless otherwise stated, are all existing items permanently installed in or on the Property, free of liens, 75 and other items including plumbing; heating; gas fireplace logs; radiator covers; hardwired security systems; thermostats; lighting 76 fixtures (including chandeliers and ceiling fans); pools, spas and hot tubs (including covers and cleaning equipment); electric 77 animal fencing systems (excluding collars); garage door openers and transmitters; mounting brackets and hardware for television 78 and sound equipment; unpotted shrubbery, plantings and trees; smoke detectors and carbon monoxide detectors; sump pumps; 79 storage sheds; fences; mailboxes; wall to wall carpeting; existing window screens, storm windows and screen/storm doors; win80 dow covering hardware (including rods and brackets), shades and blinds; awnings; central vacuum system (with attachments); 81 built-in air conditioners; built-in appliances; the range/oven; dishwashers; trash compactors; any remaining heating and cooking 82 fuels stored on the Property at the time of settlement; and, if owned, solar panels, windmills, water treatment systems, propane 83 tanks and satellite dishes. Unless stated otherwise, the following items are included in the sale, at no additional cost: _______ 84 ______________________________________________________________________________________________________ Included items here 85 ______________________________________________________________________________________________________ 86 (C) The following items are not owned by Seller and may be subject to a lease or other financing agreement. Contact the provider/ 87 vendor for more information (e.g., solar panels, windmills, water treatment systems, propane tanks and satellite dishes): _____ Items leased by seller here 88 ______________________________________________________________________________________________________ 89 (D) EXCLUDED and ___________________________________________________________________________ (D) EXCLUDEDfixtures fixtures anditems: items: ___________________________________________________________________________ 90 Excluded items here _____________________________________________________________________________________________________ 91 8. BUYER FINANCING (7-22) 92 (A) Buyer may elect to make this Agreement contingent upon obtaining mortgage financing. Regardless of any contingency in this 93 Agreement, if Buyer chooses to obtain mortgage financing, the following terms apply: 94 1. Buyer will be in default of this Agreement if Buyer furnishes false information to anyone concerning Buyer’s financial 95 and/or employment status, fails to cooperate in good faith with processing the mortgage loan application (including payment 96 for and ordering of appraisal without delay), fails to lock in interest rate(s) as stated below, or otherwise causes the lender to 97 reject, or refuse to approve or issue, a mortgage loan. 98 2. Within _____ days (7 if not specified) from the Execution Date of this Agreement, Buyer will make a completed mortgage 99 Mortgage application (including payment for and ordering of credit reports without delay) for the mortgage terms and to the mortgage 100application lender(s) identified in Paragraph 8(F), if any, otherwise to a responsible mortgage lender(s) of Buyer’s choice. Broker for 101 due date Buyer, if any, otherwise Broker for Seller, is authorized to communicate with the mortgage lender(s) to assist in the mortgage 102 loan process. Broker for Seller, if any, is permitted to contact the morgage lender(s) at any time to determine the status of the 103 mortgage loan application. 104 3. Seller will provide access to insurers’ representatives and, as may be required by the mortgage lender(s), to surveyors, munic105 ipal officials, appraisers, and inspectors. 106 4. If the mortgage lender(s) gives Buyer the right to lock in interest rate(s) at or below the maximum levels desired, Buyer will 107 do so at least 15 days before Settlement Date. 108 5. If the mortgage lender(s), or a property and casualty insurer providing insurance required by the mortgage lender(s), 109 requires repairs to the Property, Buyer will, upon receiving the requirements, deliver a copy of the requirements to Seller. 110 Within 5 DAYS of receiving the copy of the requirements, Seller will notify Buyer whether Seller will make the 111 required repairs at Seller’s expense. 112 a. If Seller makes the required repairs to the satisfaction of the mortgage lender and/or insurer, Buyer accepts the Property 113 and agrees to the RELEASE in Paragraph 28 of this Agreement. 114 b. If Seller will not make the required repairs, or if Seller fails to respond within the stated time, Buyer will, within 5 115 DAYS, notify Seller of Buyer’s choice to: 116 1) Make the repairs/improvements at Buyer’s expense, with permission and access to the Property given by Seller, which 117 will not be unreasonably withheld (Seller may require that Buyer sign a pre-settlement possession agreement such as 118 the Pre-Settlement Possession Addendum [PAR Form PRE], which shall not, in and of itself, be considered unreason119 able), OR 120 2) Terminate this Agreement by written notice to Seller, with all deposit monies returned to Buyer according to the terms 121 of Paragraph 26 of this Agreement. 122 If Buyer fails to respond within the time stated above or fails to terminate this Agreement by written notice to Seller 123 within that time, Buyer will accept the Property, make the required repairs/improvements at Buyer’s expense and agree 124 to the RELEASE in Paragraph 28 of this Agreement. 125 (B) The Loan-To-Value ratio (LTV) is used by lenders as one tool to help assess their potential risk of a mortgage loan. A particular 126 LTV may be necessary to qualify for certain loans, or buyers might be required to pay additional fees if the LTV exceeds a spe127 cific level. The appraised value of the Property may be used by lenders to determine the maximum amount of a mortgage loan. 128 The appraised value is determined by an independent appraiser, subject to the mortgage lender’s underwriter review, and may be 129 higher or lower than the Purchase Price and/or market price of the Property. 65 66 ______________________________________________________________________________________________________ 130 Buyer Initials:______________________ ASR Page 3 of 14 Seller Initials:______________________ FHA loans only, highlighted information must be filled in FHA/VA, IF APPLICABLE 131 (C) It is expressly agreed that notwithstanding any other provisions of this contract, Buyer will not be obligated to complete the pur132 chase of the Property described herein or to incur any penalty by forfeiture of earnest money deposits or otherwise unless Buyer 133 has been given, in accordance with HUD/FHA or VA requirements, a written statement by the Federal Housing Commissioner, 134 Veterans Administration, or a Direct Endorsement Lender setting forth the appraised value of the Property of not less than 135 $_________________________ (the Purchase Price as as stated Buyer will will havehave the the privilege and option of $_________________________ (the Purchase Price statedin inthisthisAgreement). Agreement). Buyer privilege and option of 136 proceeding with consummation of the contract without regard to the amount of the appraised valuation. The appraised valuation 137 is arrived at to determine the maximum mortgage the Department of Housing and Urban Development will insure. HUD does 138 not warrant the value nor the condition of the Property. Buyer should satisfy himself/herself that the price and condition of the 139 Property are acceptable. 140 Warning: Section 1010 of Title 18, U.S.C., Department of Housing and Urban Development and Federal Housing Administration 141 Transactions, provides, “Whoever for the purpose of influencing in any way the action of such Department, makes, passes, utters 142 or publishes any statement, knowing the same to be false shall be fined under this title or imprisoned not more than two years, 143 or both.” 144 (D) U.S. Department of Housing and Urban Development (HUD) NOTICE TO PURCHASERS: Buyer’s Acknowledgement 145 Buyer has received the HUD Notice “For Your Protection: Get a Home Inspection.” Buyer understands the importance of 146 getting an independent home inspection and has thought about this before signing this Agreement. Buyer understands that 147 FHA will not perform a home inspection nor guarantee the price or condition of the Property. 148 Buyer will apply for Section 203(k) financing, and this contract is contingent upon mortgage approval (See Paragraph 8(F)) 149 and Buyer’s acceptance of additional required repairs as required by the lender. 150 (E) Certification We the undersigned, Seller(s) and Buyer(s) party to this transaction each certify that the terms of this contract for 151 purchase are true to the best of our knowledge and belief, and that any other agreement entered into by any of these parties in 152 connection with this transaction is attached to this Agreement. 153 (F) Mortgage Contingency 154 WAIVED. This sale is NOT contingent on mortgage financing, although Buyer may obtain mortgage financing and/or the CASH 155 parties may include an appraisal contingency. Buyer and Seller understand that the waiver of this contingency does not restrict 156 Buyer’s right to obtain mortgage financing for the Property. 157 ELECTED. This sale is contingent upon Buyer obtaining mortgage financing according to the terms outlined below. Upon 158 Mortgages receiving documentation demonstrating the mortgage lender’s approval, whether conditional or outright, of Buyer’s mort159 gage application(s) according to the following terms, Buyer will promptly deliver a copy of the documentation to Seller, but 160 in any case no later than ___________________________ MC/ Mortgage commitment (Commitment Date). 161 162 163 164 165 166 167 168 169 170 171 172 173 174 175 176 177 178 179 180 181 182 183 184 185 186 187 188 189 190 191 192 193 194 Second Mortgage on the Property First Mortgage on the Property Loan Amount $ ________________________________________ Loan Amount $ ________________________________________ Loan Amount Minimum Term ______________ years Minimum Term ______________ years Type of mortgage ______________________________________ Type of mortgage ______________________________________ Loan Type For conventional loans, the Loan-To-Value (LTV) ratio is not to For conventional loans, the Loan-To-Value (LTV) ratio is not to exceed _______% exceed _______% Lender company- Loan officer name Mortgage lender ________________________________________ Mortgage lender _______________________________________ _____________________________________________________ ____________________________________________________ Interest rate _________%; however, Buyer agrees to accept the Interest rate _________%; however, Buyer agrees to accept the interest rate as may be committed by the mortgage lender, not interest rate as may be committed by the mortgage lender, not to exceed a maximum interest rate of _________%. to exceed a maximum interest rate of _________%. Discount points, loan origination, loan placement and other fees Discount points, loan origination, loan placement and other fees charged by the lender as a percentage of the mortgage loan (exclud- charged by the lender as a percentage of the mortgage loan (excluding any mortgage insurance premiums or VA funding fee) not to ing any mortgage insurance premiums or VA funding fee) not to exceed _________% (0% if not specified) of the mortgage loan. exceed _________% (0% if not specified) of the mortgage loan. 1. The interest rate(s) and fee(s) provisions in Paragraph 8(F) are satisfied if the mortgage lender(s) gives Buyer the right to guarantee the interest rate(s) and fee(s) at or below the maximum levels stated. Buyer gives Seller the right, at Seller’s sole option and as permitted by law and the mortgage lender(s), to contribute financially, without promise of reimbursement, to Buyer and/or the mortgage lender(s) to make the above mortgage term(s) available to Buyer. 2. Seller may terminate this Agreement after the Commitment Date by written notice to Buyer if: a. Seller does not receive a copy of the documentation demonstrating the mortgage lender’s conditional or outright approval of Buyer’s mortgage application(s) by the Commitment Date, b. The documentation demonstrating the mortgage lender’s conditional or outright approval of Buyer’s mortgage application(s) does not satisfy the loan terms outlined in Paragraph 8(F), OR c. The documentation demonstrating the mortgage lender’s conditional or outright approval of Buyer’s mortgage application(s) contains any condition not specified in this Agreement (e.g., Buyer must settle on another property, an appraisal must be received by the lender, or the approval is not valid through the Settlement Date) that is not satisfied and/or removed in writing by the mortgage lender(s) within 7 DAYS after the Commitment Date, or any extension thereof, other than those conditions that are customarily satisfied at or near settlement (e.g., obtaining insurance, confirming employment). 3. Seller’s right to terminate continues until Buyer delivers documentation demonstrating the mortgage lender’s conditional or outright approval of Buyer’s mortgage application(s) to Seller. Until Seller terminates this Agreement pursuant to this Paragraph, Buyer must continue to make a good faith effort to obtain mortgage financing. Termination of this Agreement by Buyer Initials:______________________ ASR Page 4 of 14 Seller Initials:______________________ Buyer due to the mortgage lender’s denial of Buyer’s mortgage application(s) may demonstrate bad faith by Buyer and result in the forfeiture of deposit monies to Seller. 197 4. If this Agreement is terminated pursuant to Paragraph 8(F)(2), or the mortgage loan(s) is not obtained for settlement, all 198 deposit monies will be returned to Buyer according to the terms of Paragraph 26 and this Agreement will be VOID. Buyer 199 will be responsible for any costs incurred by Buyer for any inspections or certifications obtained according to the terms of this 200 Agreement, and any costs incurred by Buyer for: (1) Title search, title insurance and/or mechanics’ lien insurance, or any fee 201 for cancellation; (2) Flood insurance, fire insurance, hazard insurance, mine subsidence insurance, or any fee for cancellation; 202 (3) Appraisal fees and charges paid in advance to mortgage lender(s). 203 9. CHANGE IN BUYER’S FINANCIAL STATUS (9-18) 204 If a change in Buyer’s financial status affects Buyer’s ability to purchase, Buyer will promptly notify Seller and lender(s) to whom the 205 Buyer submitted a mortgage application, if any, in writing. A change in financial status includes, but is not limited to, loss or a change 206 in employment; failure or loss of sale of Buyer’s home; Buyer having incurred a new financial obligation; entry of a judgment against 207 Buyer. Buyer understands that applying for and/or incurring an additional financial obligation may affect Buyer’s ability to 208 purchase. 209 10. SELLER REPRESENTATIONS (1-20) 210 (A) Status of Water 211 Seller represents that the Property is served by: 212 Public Water Community Water On-site Water None ______________________________________ 213 (B) Status of Sewer 214 1. Seller represents that the Property is served by: 215 Public Sewer Community Sewage Disposal System Ten-Acre Permit Exemption (see Sewage Notice 2) 216 Individual On-lot Sewage Disposal System (see Sewage Notice 1) Holding Tank (see Sewage Notice 3) 217 Individual On-lot Sewage Disposal System in Proximity to Well (see Sewage Notice 1; see Sewage Notice 4, if applicable) 218 None (see Sewage Notice 1) None Available/Permit Limitations in Effect (see Sewage Notice 5) 219 ________________________________________________________________________________________________ 220 2. Notices Pursuant to the Pennsylvania Sewage Facilities Act 221 Notice 1: There is no currently existing community sewage system available for the subject property. Section 7 of the 222 Pennsylvania Sewage Facilities Act provides that no person shall install, construct, request bid proposals for construction, alter, 223 repair or occupy any building or structure for which an individual sewage system is to be installed, without first obtaining a 224 permit. Buyer is advised by this notice that, before signing this Agreement, Buyer should contact the local agency charged with 225 administering the Act to determine the procedure and requirements for obtaining a permit for an individual sewage system. The 226 local agency charged with administering the Act will be the municipality where the Property is located or that municipality 227 working cooperatively with others. 228 Notice 2: This Property is serviced by an individual sewage system installed under the ten-acre permit exemption 229 provisions of Section 7 of the Pennsylvania Sewage Facilities Act. (Section 7 provides that a permit may not be required 230 before installing, constructing, awarding a contract for construction, altering, repairing or connecting to an individual sewage 231 system where a ten-acre parcel or lot is subdivided from a parent tract after January 10, 1987). Buyer is advised that soils and 232 site testing were not conducted and that, should the system malfunction, the owner of the Property or properties serviced by 233 the system at the time of a malfunction may be held liable for any contamination, pollution, public health hazard or nuisance 234 which occurs as a result. 235 Notice 3: This Property is serviced by a holding tank (permanent or temporary) to which sewage is conveyed by a 236 water carrying system and which is designed and constructed to facilitate ultimate disposal of the sewage at another 237 site. Pursuant to the Pennsylvania Sewage Facilities Act, Seller must provide a history of the annual cost of maintaining the 238 tank from the date of its installation or December 14, 1995, whichever is later. 239 Notice 4: An individual sewage system has been installed at an isolation distance from a well that is less than the dis240 tance specified by regulation. The regulations at 25 Pa. Code §73.13 pertaining to minimum horizontal isolation distances 241 provide guidance. Subsection (b) of §73.13 states that the minimum horizontal isolation distance between an individual water 242 supply or water supply system suction line and treatment tanks shall be 50 feet. Subsection (c) of §73.13 states that the hor243 izontal isolation distance between the individual water supply or water supply system suction line and the perimeter of the 244 absorption area shall be 100 feet. 245 Notice 5: This lot is within an area in which permit limitations are in effect and is subject to those limitations. Sewage 246 facilities are not available for this lot and construction of a structure to be served by sewage facilities may not begin until 247 the municipality completes a major planning requirement pursuant to the Pennsylvania Sewage Facilities Act and regulations 248 promulgated thereunder. 249 (C) Historic Preservation 250 Seller is not aware of historic preservation restrictions regarding the Property unless otherwise stated here: ________________ 251 ______________________________________________________________________________________________________ 252 (D) Land Use Restrictions 253 1. Property, or a portion of it, is subject to land use restrictions and may be preferentially assessed for tax purposes under the 254 following Act(s) (see Notices Regarding Land Use Restrictions below): 255 Agricultural Area Security Law (Right-to-Farm Act; Act 43 of 1981; 3 P.S. § 901 et seq.) 256 Farmland and Forest Land Assessment Act (Clean and Green Program; Act 319 of 1974; 72 P.S. § 5490.1 et seq.) 257 Open Space Act (Act 442 of 1967; 32 P.S. § 5001 et seq.) 258 Conservation Reserve Program (16 U.S.C. § 3831 et seq.) 259 Other _________________________________________________________________________________________ 195 196 260 Buyer Initials:______________________ ASR Page 5 of 14 Seller Initials: _____________________ 2. Notices Regarding Land Use Restrictions a. Pennsylvania Right-To-Farm Act: The property you are buying may be located in an area where agricultural operations 263 take place. Pennsylvania protects agricultural resources for the production of food and agricultural products. The law limits 264 circumstances where normal agricultural operations may be subject to nuisance lawsuits or restrictive ordinances. 265 b. Clean and Green Program: Properties enrolled in the Clean and Green Program receive preferential property tax assess266 ment. Buyer and Seller have been advised of the need to contact the County Tax Assessment Office before the execution 267 of this Agreement to determine the property tax implications that will or may result from the sale of the Property, or that 268 may result in the future as a result of any change in use of the Property or the land from which it is being separated. 269 c. Open Space Act: This Act enables counties to enter into covenants with owners of land designated as farm, forest, water 270 supply, or open space land on an adopted municipal, county or regional plan for the purpose of preserving the land as open 271 space. A covenant between the owner and county is binding upon any Buyer of the Property during the period of time that 272 the covenant is in effect (5 or 10 years). Covenants automatically renew at the end of the covenant period unless specific 273 termination notice procedures are followed. Buyer has been advised of the need to determine the restrictions that will apply 274 from the sale of the Property to Buyer and the property tax implications that will or may result from a change in use of the 275 Property, or any portion of it. Buyer is further advised to determine the term of any covenant now in effect. 276 d. Conservation Reserve (Enhancement) Program: Properties enrolled in the Conservation Reserve Program or CREP are 277 environmentally-sensitive areas, the owners of which receive compensation in exchange for an agreement to maintain the 278 land in its natural state. Contracts last from 10 to 15 years and carry penalties to Seller if terminated early by Buyer. Buyer 279 has been advised of the need to determine the restrictions on development of the Property and the term of any contract now 280 in effect. Seller is advised to determine the financial implications that will or may result from the sale of the Property. 281 (E) Real Estate Seller Disclosure Law 282 Generally, the Real Estate Seller Disclosure Law requires that before an agreement of sale is signed, the seller in a residential real 283 estate transfer must make certain disclosures regarding the property to potential buyers in a form defined by the law. A residential 284 real estate transfer is defined as a sale, exchange, installment sales contract, lease with an option to buy, grant or other transfer of 285 an interest in real property where NOT LESS THAN ONE AND NOT MORE THAN FOUR RESIDENTIAL DWELLING 286 UNITS are involved. Disclosures for condominiums and cooperatives are limited to the seller’s particular unit(s). Disclosures 287 regarding common areas or facilities are not required, as those elements are already addressed in the laws that govern the resale 288 of condominium and cooperative interests. 289 (F) Public and/or Private Assessments 290 1. Seller represents that, as of the date Seller signed this Agreement, no public improvement, condominium or homeowner asso291 ciation assessments have been made against the Property which remain unpaid, and that no notice by any government or public 292 authority (excluding assessed value) has been served upon Seller or anyone on Seller’s behalf, including notices relating to 293 violations of zoning, housing, building, safety or fire ordinances that remain uncorrected, and that Seller knows of no condition 294 that would constitute a violation of any such ordinances that remain uncorrected, unless otherwise specified here:________ 295 ___________________________________________________________________________________________________ 296 2. Seller knows of no other potential notices (including violations) and/or assessments except as follows: _________________ 297 ____________________________________________________________________________________________________ 298 (G) Highway Occupancy Permit 299 Access to a public road may require issuance of a highway occupancy permit from the Department of Transportation. 300 (H) Internet of Things (IoT) Devices 301 1. The presence of smart and green home devices that are capable of connecting to the Internet, directly or indirectly, and the data 302 stored on those various devices make up a digital ecosystem in the Property sometimes referred to as the “Internet of Things 303 (IoT).” Buyer and Seller acknowledge that IoT devices may transmit data to third parties outside of the control of their owner. 304 2. On or before settlement, Seller will make a reasonable effort to clear all data stored on all IoT devices located on the Property 305 and included in the sale. Seller further acknowledges that all personal devices owned by Seller (including but not limited to 306 cellular telephones, personal computers and tablets) having connectivity to any IoT device(s) located on the Property will be 307 disconnected and cleared of relevant data prior to settlement. Further, no attempts will be made after settlement by Seller or 308 anyone on Seller’s behalf to access any IoT devices remaining on the Property. 309 3. Following settlement, Buyer will make a reasonable effort to clear all stored data from any IoT device(s) remaining on the 310 Property and to restrict access to said devices by Seller, Seller’s agents or any third party to whom Seller may have previously 311 provided access. This includes, but is not limited to, restoring IoT devices to original settings, changing passwords or codes, 312 updating network settings and submitting change of ownership and contact information to device manufacturers and service 313 providers. 314 4. This paragraph will survive settlement. 315 11. WAIVER OF CONTINGENCIES (9-05) 316 If this Agreement is contingent on Buyer’s right to inspect and/or repair the Property, or to verify insurability, environmental condi317 tions, boundaries, certifications, zoning classification or use, or any other information regarding the Property, Buyer’s failure to exer318 cise any of Buyer’s options within the times set forth in this Agreement is a WAIVER of that contingency and Buyer accepts 319 the Property and agrees to the RELEASE in Paragraph 28 of this Agreement. 320 12. BUYER’S DUE DILIGENCE/INSPECTIONS (10-18) 321 (A) Rights and Responsibilities 322 1. Seller will provide access to insurers’ representatives and, as may be required by this Agreement or by mortgage lender(s), to 323 surveyors, municipal officials, appraisers and inspectors; in addition, unless otherwise agreed, only Parties and their real estate 324 licensee(s) may attend any inspections. 261 262 325 Buyer Initials:______________________ ASR Page 6 of 14 Seller Initials:______________________ 326 327 328 329 330 331 332 333 334 335 336 337 338 339 340 341 342 343 344 345 346 347 348 349 350 351 352 353 354 355 356 357 358 359 360 361 362 363 364 365 366 367 368 369 370 371 372 373 374 375 376 377 378 379 380 381 382 383 384 385 386 387 388 389 390 2. Buyer may make two pre-settlement walk-through inspections of the Property for the limited purpose of determining that the condition of the Property is as required by this Agreement and any addenda. Buyer’s right to these inspections is not waived by any other provision of this Agreement. 3. Seller will have heating and all utilities (including fuel(s)) on for all inspections/appraisals. 4. All inspectors, including home inspectors, are authorized by Buyer to provide a copy of any inspection Report to Broker for Buyer. 5. Seller has the right, upon request, to receive a free copy of any inspection Report from the party for whom it was prepared. Unless otherwise stated, Seller does not have the right to receive a copy of any lender’s appraisal report. (B) Buyer waives or elects at Buyer’s expense to have the following inspections, certifications, and investigations (referred to as “Inspection” or “Inspections”) performed by professional contractors, home inspectors, engineers, architects and other properly licensed or otherwise qualified professionals. All inspections shall be non-invasive, unless otherwise agreed in writing. If the same inspector is inspecting more than one system, the inspector must comply with the Home Inspection Law. (See Paragraph 12(D) for Notices Regarding Property and Environmental Inspections) (C) For elected Inspection(s), Buyer will, within the Contingency Period stated in Paragraph 13(A), complete Inspections, obtain any Inspection Reports or results (referred to as “Report” or “Reports”), and accept the Property, terminate this Agreement, or submit a written corrective proposal to Seller, according to the terms of Paragraph 13(B). Home/Property Inspections and Environmental Hazards (mold, etc.) Elected Buyer may conduct an inspection of the Property’s structural components; roof; exterior windows and exterior Waived ________ doors; exterior building material, fascia, gutters and downspouts; swimming pools, hot tubs and spas; appliances; ________ electrical systems; interior and exterior plumbing; public sewer systems; heating and cooling systems; water penetration; electromagnetic fields; wetlands and flood plain delineation; structure square footage; mold and other environmental hazards (e.g., fungi, indoor air quality, asbestos, underground storage tanks, etc.); and any other items Buyer may select. If Buyer elects to have a home inspection of the Property, as defined in the Home Inspection Law, the home inspection must be performed by a full member in good standing of a national home inspection association, or a person supervised by a full member of a national home inspection association, in accordance with the ethical standards and code of conduct or practice of that association, or by a properly licensed or registered engineer or architect. (See Notices Regarding Property & Environmental Inspections) Wood Infestation Elected Buyer may obtain a written “Wood-Destroying Insect Infestation Inspection Report” from an inspector certified as a Waived ________ wood-destroying pests pesticide applicator and will deliver it and all supporting documents and drawings provided ________ by the inspector to Seller. The Report is to be made satisfactory to and in compliance with applicable laws, mortgage lender requirements, and/or Federal Insuring and Guaranteeing Agency requirements. The Inspection is to be limited to all readily-visible and accessible areas of all structures on the Property, except fences. If the Inspection reveals active infestation(s), Buyer, at Buyer’s expense, may obtain a Proposal from a wood-destroying pests pesticide applicator to treat the Property. If the Inspection reveals damage from active or previous infestation(s), Buyer may obtain a written Report from a professional contractor, home inspector or structural engineer that is limited to structural damage to the Property caused by wood-destroying organisms and a Proposal to repair the Property. Deeds, Restrictions and Zoning Elected Buyer may investigate easements, deed and use restrictions (including any historic preservation restrictions or ordi- Waived ________ nances) that apply to the Property and review local zoning ordinances. Buyer may verify that the present use of the ________ Property (such as in-law quarters, apartments, home office, day care, commercial or recreational vehicle parking, short-term rentals) is permitted and may elect to make the Agreement contingent upon an anticipated use. Present use: ________________________________________________________________________________________ Water Service Elected Buyer may obtain an Inspection of the quality and quantity of the water system from a properly licensed or other- Waived ________ wise qualified water/well testing company. If and as required by the inspection company, Seller, at Seller’s expense, ________ will locate and provide access to the on-site (or individual) water system. Seller will restore the Property to its previous condition, at Seller’s expense, prior to settlement. Radon Elected Buyer may obtain a radon test of the Property from a certified inspector. The U.S. Environmental Protection Agency Waived ________ (EPA) advises corrective action if the average annual exposure to radon is equal to or higher than 0.02 working ________ levels or 4 picoCuries/liter (4pCi/L). Radon is a natural, radioactive gas that is produced in the ground by the normal decay of uranium and radium. Studies indicate that extended exposure to high levels of radon gas can increase the risk of lung cancer. Radon can find its way into any air-space and can permeate a structure. If a house has a radon problem, it usually can be cured by increased ventilation and/or by preventing radon entry. Any person who tests, mitigates or safeguards a building for radon in Pennsylvania must be certified by the Department of Environmental Protection. Information about radon and about certified testing or mitigation firms is available through Department of Environmental Protection, Bureau of Radiation Protection, 13th Floor, Rachel Carson State Office Building, P.O. Box 8469, Harrisburg, PA 17105-8469, (800) 23RADON or (717) 783-3594. www.epa.gov On-lot Sewage (If Applicable) Elected Buyer may obtain an Inspection of the individual on-lot sewage disposal system, which may include a hydraulic load Waived ________ test, from a qualified, professional inspector. If and as required by the inspection company, Seller, at Seller’s expense, ________ will locate, provide access to, empty the individual on-lot sewage disposal system and provide all water needed, unless otherwise agreed. Seller will restore the Property to its previous condition, at Seller’s expense, prior to settlement. See Paragraph 13(C) for more information regarding the Individual On-lot Sewage Inspection Contingency. Buyer Initials:______________________ ASR Page 7 of 14 Seller Initials:______________________ Property and Flood Insurance Elected Buyer may determine the insurability of the Property by making application for property and casualty insurance Waived 393 ________ for the Property to a responsible insurer. Broker for Buyer, if any, otherwise Broker for Seller, may communicate ________ 394 with the insurer to assist in the insurance process. If the Property is located in a specially-designated flood zone, 395 Buyer may be required to carry flood insurance at Buyer’s expense, which may need to be ordered 14 days or more 396 prior to Settlement Date. Revised flood maps and changes to Federal law may substantially increase future flood 397 insurance premiums or require insurance for formerly exempt properties. Buyer should consult with one or more 398 flood insurance agents regarding the need for flood insurance and possible premium increases. 399 Property Boundaries 400 Elected Buyer may engage the services of a surveyor, title abstractor, or other qualified professional to assess the legal Waived 401 ________ description, certainty and location of boundaries and/or quantum of land. Most sellers have not had the Property ________ 402 surveyed as it is not a requirement of property transfer in Pennsylvania. Any fences, hedges, walls and other natural 403 or constructed barriers may or may not represent the true boundary lines of the Property. Any numerical represen404 tations of size of property are approximations only and may be inaccurate. 405 Lead-Based Paint Hazards (For Properties built prior to 1978 only) 406 Elected Before Buyer is obligated to purchase a residential dwelling built prior to 1978, Buyer has the option to conduct Waived 407 ________ a risk assessment and/or inspection of the Property for the presence of lead-based paint and/or lead-based paint ________ 408 hazards. Regardless of whether this inspection is elected or waived, the Residential Lead-Based Paint Hazard 409 Reduction Act requires a seller of property built prior to 1978 to provide the Buyer with an EPA-approved 410 lead hazards information pamphlet titled “Protect Your Family from Lead in Your Home,” along with a 411 separate form, attached to this Agreement, disclosing Seller’s knowledge of lead-based paint hazards and any 412 lead-based paint records regarding the Property. 413 Other 414 Elected ___________________________________________________________________________________________ Waived 415 ________ ___________________________________________________________________________________________ ________ 416 The Inspections elected above do not apply to the following existing conditions and/or items: 417 ______________________________________________________________________________________________________________ 418 ______________________________________________________________________________________________________________ 419 (D) Notices Regarding Property & Environmental Inspections 420 1. Exterior Building Materials: Poor or improper installation of exterior building materials may result in moisture penetrating 421 the surface of a structure where it may cause mold and damage to the building’s frame. 422 2. Asbestos: Asbestos is linked with several adverse health effects, including various forms of cancer. 423 3. Environmental Hazards: The U.S. Environmental Protection Agency has a list of hazardous substances, the use and disposal 424 of which are restricted by law. Generally, if hazardous substances are found on a property, it is the property owner’s respon425 sibility to dispose of them properly. 426 4. Wetlands: Wetlands are protected by the federal and state governments. Buyer may wish to hire an environmental engineer 427 to investigate whether the Property is located in a wetlands area to determine if permits for plans to build, improve or develop 428 the property would be affected or denied because of its location in a wetlands area. 429 5. Mold, Fungi and Indoor Air Quality: Indoor mold contamination and the inhalation of bioaerosols (bacteria, mold spores, 430 pollen and viruses) have been associated with allergic responses. 431 6. Additional Information: Inquiries or requests for more information about asbestos and other hazardous substances can be 432 directed to the U.S. Environmental Protection Agency, Ariel Rios Building, 1200 Pennsylvania Ave., N.W., Washington, D.C. 433 20460, (202) 272-0167, and/or the Department of Health, Commonwealth of Pennsylvania, Division of Environmental Health, 434 Harrisburg, PA 17120. Information about indoor air quality issues is available through the Pennsylvania Department of Health 435 and may be obtained by contacting Health & Welfare Building, 8th Floor West, 625 Forster St., Harrisburg, PA 17120, or by 436 calling 1-877-724-3258. 437 13. INSPECTION CONTINGENCY (10-18) Check inspection contingency dates below (Inspections & buyer's response due by this date) 438 (A) The Contingency Period is 15 days (10 if not specified) from the Execution Date of this Agreement for each Inspection elected 439 in Paragraph 12(C). 440 (B) Within the stated Contingency Period and as the result of any Inspection elected in Paragraph 12(C), except as stated in 441 Paragraph 13(C): 442 1. If the results of the inspections elected in Paragraph 12(C) are satisfactory to Buyer, Buyer WILL present all Report(s) in 443 their entirety to Seller, accept the Property with the information stated in the Report(s) and agree to the RELEASE in 444 Paragraph 28 of this Agreement, OR 445 2. If the results of any inspection elected in Paragraph 12(C) are unsatisfactory to Buyer, Buyer WILL present all Report(s) in 446 their entirety to Seller and terminate this Agreement by written notice to Seller, with all deposit monies returned to Buyer 447 according to the terms of Paragraph 26 of this Agreement, OR 448 3. If the results of any inspection elected in Paragraph 12(C) are unsatisfactory to Buyer, Buyer WILL present all Report(s) in 449 their entirety to Seller with a Written Corrective Proposal (“Proposal”) listing corrections and/or credits desired by 450 Buyer. 451 The Proposal may, but is not required to, include the name(s) of a properly licensed or qualified professional(s) to perform 452 the corrections requested in the Proposal, provisions for payment, including retests, and a projected date for completion of 453 the corrections. Buyer agrees that Seller will not be held liable for corrections that do not comply with mortgage lender or 454 governmental requirements if performed in a workmanlike manner according to the terms of Buyer’s Proposal. 391 392 455 Buyer Initials:______________________ ASR Page 8 of 14 Seller Initials:______________________ Seller's response to inspections due date below (negotiation period) a. Following the end of the Contingency Period, Buyer and Seller will have days (5 if not specified) for a Negotiation 457 Period. During the Negotiation Period: 458 (1) Seller will acknowledge in writing Seller’s agreement to satisfy all the terms of Buyer’s Proposal OR 459 (2) Buyer and Seller will negotiate another mutually acceptable written agreement, providing for any repairs or improve460 ments to the Property and/or any credit to Buyer at settlement, as acceptable to the mortgage lender, if any. 461 If Seller agrees to satisfy all the terms of Buyer’s Proposal, or Buyer and Seller enter into another mutually acceptable 462 written agreement, Buyer accepts the Property and agrees to the RELEASE in Paragraph 28 of this Agreement and the 463 Negotiation Period ends. Buyer's final response to negotiations due by date below 464 b. If no mutually acceptable written agreement is reached, or if Seller fails to respond during the Negotiation Period, within 465 _____ days (2 if not specified) following the end of the Negotiation Period, Buyer will: 466 (1) Accept the Property with the information stated in the Report(s) and agree to the RELEASE in Paragraph 28 of this 467 Agreement, OR 468 (2) Terminate this Agreement by written notice to Seller, with all deposit monies returned to Buyer according to the terms 469 of Paragraph 26 of this Agreement. 470 If Buyer and Seller do not reach a mutually acceptable written agreement, and Buyer does not terminate this Agreement 471 by written notice to Seller within the time allotted in Paragraph 13(B)(3)(b), Buyer will accept the Property and agree 472 to the RELEASE in Paragraph 28 of this Agreement. Ongoing negotiations do not automatically extend the Negotiation 473 Period. 474 (C) If a Report reveals the need to expand or replace the existing individual on-lot sewage disposal system, Seller may, within _____ 475 days (25 if not specified) of receiving the Report, submit a Proposal to Buyer. The Proposal will include, but not be limited to, 476 the name of the company to perform the expansion or replacement; provisions for payment, including retests; and a projected 477 completion date for corrective measures. Within 5 DAYS of receiving Seller’s Proposal, or if no Proposal is provided within 478 the stated time, Buyer will notify Seller in writing of Buyer’s choice to: 479 1. Agree to the terms of the Proposal, accept the Property and agree to the RELEASE in Paragraph 28 of this Agreement, OR 480 2. Terminate this Agreement by written notice to Seller, with all deposit monies returned to Buyer according to the terms of 481 Paragraph 26 of this Agreement, OR 482 3. Accept the Property and the existing system and agree to the RELEASE in Paragraph 28 of this Agreement. If required by 483 any mortgage lender and/or any governmental authority, Buyer will correct the defects before settlement or within the time 484 required by the mortgage lender and/or governmental authority, at Buyer’s sole expense, with permission and access to the 485 Property given by Seller, which may not be unreasonably withheld. If Seller denies Buyer permission and/or access to correct 486 the defects, Buyer may, within 5 DAYS of Seller’s denial, terminate this Agreement by written notice to Seller, with all 487 deposit monies returned to Buyer according to the terms of Paragraph 26 of this Agreement. 488 If Buyer fails to respond within the time stated in Paragraph 13(C) or fails to terminate this Agreement by written notice to 489 Seller within that time, Buyer will accept the Property and agree to the RELEASE in Paragraph 28 of this Agreement. 490 14. TITLES, SURVEYS AND COSTS (6-20) 491 (A) Within _____ days (7 if not specified) from the Execution Date of this Agreement, Buyer will order from a reputable title company 492 for delivery to Seller a comprehensive title report on the Property. Upon receipt, Buyer will deliver a free copy of the title report 493 to Seller. 494 (B) Buyer is encouraged to obtain an owner’s title insurance policy to protect Buyer. An owner’s title insurance policy is different 495 from a lender’s title insurance policy, which will not protect Buyer from claims and attacks on the title. Owner’s title insurance 496 policies come in standard and enhanced versions; Buyer should consult with a title insurance agent about Buyer’s options. 497 Buyer agrees to release and discharge any and all claims and losses against Broker for Buyer should Buyer neglect to obtain an 498 owner’s title insurance policy. 499 (C) Buyer will pay for the following: (1) Title search, title insurance and/or mechanics’ lien insurance, or any fee for cancellation; 500 (2) Flood insurance, fire insurance, hazard insurance, mine subsidence insurance, or any fee for cancellation; (3) Appraisal fees 501 and charges paid in advance to mortgage lender; (4) Buyer’s customary settlement costs and accruals. 502 (D) Any survey or surveys required by the title insurance company or the abstracting company for preparing an adequate legal descrip503 tion of the Property (or the correction thereof) will be obtained and paid for by Seller. Any survey or surveys desired by Buyer or 504 required by the mortgage lender will be obtained and paid for by Buyer. 505 (E) The Property will be conveyed with good and marketable title that is insurable by a reputable title insurance company at the reg506 ular rates, free and clear of all liens, encumbrances, and easements, excepting however the following: existing deed restrictions; 507 historic preservation restrictions or ordinances; building restrictions; ordinances; easements of roads; easements visible upon the 508 ground; easements of record; and privileges or rights of public service companies, if any. 509 (F) If a change in Seller’s financial status affects Seller’s ability to convey title to the Property on or before the Settlement Date, or 510 any extension thereof, Seller shall promptly notify Buyer in writing. A change in financial status includes, but is not limited to, 511 Seller filing bankruptcy; filing of a foreclosure lawsuit against the Property; entry of a monetary judgment against Seller; notice 512 of public tax sale affecting the Property; and Seller learning that the sale price of the Property is no longer sufficient to satisfy all 513 liens and encumbrances against the Property. 514 (G) If Seller is unable to give good and marketable title that is insurable by a reputable title insurance company at the regular rates, 515 as specified in Paragraph 14(E), Buyer may terminate this Agreement by written notice to Seller, with all deposit monies returned 516 to Buyer according to the terms of Paragraph 26 of this Agreement, or take such title as Seller can convey. If the title condition 517 precludes Seller from conveying title, Buyer’s sole remedy shall be to terminate this Agreement. Upon termination, all deposit 456 518 Buyer Initials:______________________ ASR Page 9 of 14 Seller Initials:______________________ monies shall be returned to Buyer according to the terms of Paragraph 26 of this Agreement and Seller will reimburse Buyer for any costs incurred by Buyer for any inspections or certifications obtained according to the terms of this Agreement, and for those 521 items specified in Paragraph 14(C) items (1), (2), (3) and in Paragraph 14(D). 522 (H) Oil, gas, mineral, or other rights of this Property may have been previously conveyed or leased, and Sellers make no representation 523 about the status of those rights unless indicated elsewhere in this Agreement. 524 Oil, Gas and Mineral Rights Addendum (PAR Form OGM) is attached to and made part of this Agreement. 525 (I) COAL NOTICE (Where Applicable) 526 this document may not sell, convey, transfer, include or insure the title to the coal and rights of support under527 neath the surface land described or referred to herein, and the owner or owners of such coal may have the com528 plete legal right to remove all such coal and in that connection, damage may result to the surface of the land and 529 any house, building or other structure on or in such land. (This notice is set forth in the manner provided in Section 1 of 530 the Act of July 17, 1957, P.L. 984.) “Buyer acknowledges that he may not be obtaining the right of protection against subsidence 531 resulting from coal mining operations, and that the property described herein may be protected from damage due to mine subsid532 ence by a private contract with the owners of the economic interests in the coal. This acknowledgement is made for the purpose 533 of complying with the provisions of Section 14 of the Bituminous Mine Subsidence and the Land Conservation Act of April 27, 534 1966.” Buyer agrees to sign the deed from Seller which deed will contain the aforesaid provision. 535 (J) The Property is not a “recreational cabin” as defined in the Pennsylvania Construction Code Act unless otherwise stated here: 536 ______________________________________________________________________________________________________ 537 (K) 1. This property is not subject to a Private Transfer Fee Obligation unless otherwise stated here:________________________ 538 Private Transfer Fee Addendum (PAR Form PTF) is attached to and made part of this Agreement. 539 2. Notices Regarding Private Transfer Fees: In Pennsylvania, Private Transfer Fees are defined and regulated in the Private 540 Transfer Fee Obligation Act (Act 1 of 2011; 68 Pa.C.S. §§ 8101, et. seq.), which defines a Private Transfer Fee as “a fee that 541 is payable upon the transfer of an interest in real property, or payable for the right to make or accept the transfer, if the obli542 gation to pay the fee or charge runs with title to the property or otherwise binds subsequent owners of property, regardless of 543 whether the fee or charge is a fixed amount or is determined as a percentage of the value of the property, the purchase price or 544 other consideration given for the transfer.” A Private Transfer Fee must be properly recorded to be binding, and sellers must 545 disclose the existence of the fees to prospective buyers. Where a Private Transfer Fee is not properly recorded or disclosed, 546 the Act gives certain rights and protections to buyers. 547 15. NOTICES, ASSESSMENTS AND MUNICIPAL REQUIREMENTS (9-18) 548 (A) In the event any notices of public and/or private assessments as described in Paragraph 10(F) (excluding assessed value) are 549 received after Seller has signed this Agreement and before settlement, Seller will within 5 DAYS of receiving the notices and/ 550 or assessments provide a copy of the notices and/or assessments to Buyer and will notify Buyer in writing that Seller will: 551 1. Fully comply with the notices and/or assessments, at Seller’s expense, before settlement. If Seller fully complies with the 552 notices and/or assessments, Buyer accepts the Property and agrees to the RELEASE in Paragraph 28 of this Agreement, OR 553 2. Not comply with the notices and/or assessments. If Seller chooses not to comply with the notices and/or assessments, or fails 554 within the stated time to notify Buyer whether Seller will comply, Buyer will notify Seller in writing within 5 DAYS 555 that Buyer will: 556 a. Comply with the notices and/or assessments at Buyer’s expense, accept the Property, and agree to the RELEASE in 557 Paragraph 28 of this Agreement, OR 558 b. Terminate this Agreement by written notice to Seller, with all deposit monies returned to Buyer according to the terms of 559 Paragraph 26 of this Agreement. 560 If Buyer fails to respond within the time stated in Paragraph 15(A)(2) or fails to terminate this Agreement by written notice 561 to Seller within that time, Buyer will accept the Property and agree to the RELEASE in Paragraph 28 of this Agreement. 562 (B) If required by law, within 30 DAYS from the Execution Date of this Agreement, but in no case later than 15 DAYS prior to 563 Settlement Date, Seller will order at Seller’s expense a certification from the appropriate municipal department(s) disclosing notice 564 of any uncorrected violations of zoning, housing, building, safety or fire ordinances and/or a certificate permitting occupancy of 565 the Property. If Buyer receives a notice of any required repairs/improvements, Buyer will promptly deliver a copy of the notice to 566 Seller. Municipal certification/ certificate of occupancy due date 567 1. Within 5 DAYS of receiving notice from the municipality that repairs/improvements are required, Seller will deliver a 568 copy of the notice to Buyer and notify Buyer in writing that Seller will: 569 a. Make the required repairs/improvements to the satisfaction of the municipality. If Seller makes the required repairs/ 570 improvements, Buyer accepts the Property and agrees to the RELEASE in Paragraph 28 of this Agreement, OR 571 b. Not make the required repairs/improvements. If Seller chooses not to make the required repairs/improvements, Buyer will 572 notify Seller in writing within 5 DAYS that Buyer will: 573 (1) Accept a temporary access certificate or temporary use and occupancy certificate, agree to the RELEASE in Paragraph 574 28 of this Agreement and make the repairs at Buyer’s expense after settlement, OR 575 (2) Terminate this Agreement by written notice to Seller, with all deposit monies returned to Buyer according to the terms 576 of Paragraph 26 of this Agreement. 577 If Buyer fails to respond within the time stated in Paragraph 15(B)(1)(b) or fails to terminate this Agreement by writ578 ten notice to Seller within that time, Buyer will accept the Property and agree to the RELEASE in Paragraph 28 of this 579 Agreement, and Buyer accepts the responsibility to perform the repairs/improvements according to the terms of the 580 notice provided by the municipality. 581 2. If repairs/improvements are required and Seller fails to provide a copy of the notice to Buyer as required in this Paragraph, Seller 582 will perform all repairs/improvements as required by the notice at Seller’s expense. Paragraph 15(B)(2) will survive settlement. 519 520 583 Buyer Initials:______________________ ASR Page 10 of 14 Seller Initials:______________________ HOA or Condo homes only, must be checked and check the dates below in green. HOA resale docs due date 16. CONDOMINIUM/PLANNED COMMUNITY (HOMEOWNER ASSOCIATIONS) NOTICE (9-16) (A) Property is NOT a Condominium or part of a Planned Community unless checked below. 586 CONDOMINIUM. The Property is a unit of a condominium that is primarily run by a unit owners’ association. Section 3407 587 of the Uniform Condominium Act of Pennsylvania requires Seller to furnish Buyer with a Certificate of Resale and copies of 588 the condominium declaration (other than plats and plans), the bylaws and the rules and regulations of the association. 589 PLANNED COMMUNITY (HOMEOWNER ASSOCIATION). The Property is part of a planned community as defined by 590 the Uniform Planned Community Act. Section 5407(a) of the Act requires Seller to furnish Buyer with a copy of the decla591 ration (other than plats and plans), the bylaws, the rules and regulations of the association, and a Certificate containing the 592 provisions set forth in Section 5407(a) of the Act. 593 (B) THE FOLLOWING APPLIES TO INITIAL SALES OF PROPERTIES THAT ARE PART OF A CONDOMINIUM 594 OR A PLANNED COMMUNITY: 595 If this is the first sale of the property after creation of the conduminium or planned community (therefore a sale by the Declarant), 596 Seller shall furnish Buyer with a Public Offering Statement no later than the date Buyer executes this Agreement. Buyer may void 597 this Agreement within 15 days (if a condominium) or within 7 days (if part of a planned community) after receipt of the Public 598 Offering Statement or any amendment to the Statement that materially and adversely affects Buyer. Upon Buyer declaring this 599 Agreement void, all deposit monies will be returned to Buyer according to the terms of Paragraph 26 of this Agreement. 600 (C) THE FOLLOWING APPLIES TO RESALES OF PROPERTIES THAT ARE PART OF A CONDOMINIUM OR A 601 PLANNED COMMUNITY: 602 1. Within 15 DAYS from the Execution Date of this Agreement, Seller, at Seller’s expense, will request from the association 603 a Certificate of Resale and any other documents necessary to enable Seller to comply with the relevant Act. The Act provides 604 that the association is required to provide these documents within 10 days of Seller’s request. 605 2. Seller will promptly deliver to Buyer all documents received from the association. Under the Act, Seller is not liable to Buyer 606 for the failure of the association to provide the Certificate in a timely manner or for any incorrect information provided by the 607 association in the Certificate. 608 3. The Act provides that Buyer may declare this Agreement VOID at any time before Buyer receives the association documents 609 and for 5 days after receipt, OR until settlement, whichever occurs first. Buyer’s notice to Seller must be in writing; upon 610 Buyer declaring this Agreement void, all deposit monies will be returned to Buyer according to the terms of Paragraph 26 of 611 this Agreement. 612 4. If the association has the right to buy the Property (right of first refusal), and the association exercises that right, Seller will 613 reimburse Buyer for any costs incurred by Buyer for any inspections or certifications obtained according to the terms of the 614 Agreement, and any costs incurred by Buyer for: (1) Title search, title insurance and/or mechanics’ lien insurance, or any fee 615 for cancellation; (2) Flood insurance, fire insurance, hazard insurance, mine subsidence insurance, or any fee for cancellation; 616 (3) Appraisal fees and charges paid in advance to mortgage lender. 617 17. REAL ESTATE TAXES AND ASSESSED VALUE (4-14) 618 In Pennsylvania, taxing authorities (school districts and municipalities) and property owners may appeal the assessed value of a prop619 erty at the time of sale, or at any time thereafter. A successful appeal by a taxing authority may result in a higher assessed value for 620 the property and an increase in property taxes. Also, periodic county-wide property reassessments may change the assessed value of 621 the property and result in a change in property tax. 622 18. MAINTENANCE AND RISK OF LOSS (1-14) 623 (A) Seller will maintain the Property (including, but not limited to, structures, grounds, fixtures, appliances, and personal property) 624 specifically listed in this Agreement in its present condition, normal wear and tear excepted. 625 (B) If any part of the Property included in the sale fails before settlement, Seller will: 626 1. Repair or replace that part of the Property before settlement, OR 627 2. Provide prompt written notice to Buyer of Seller’s decision to: 628 a. Credit Buyer at settlement for the fair market value of the failed part of the Property, as acceptable to the mortgage lender, 629 if any, OR 630 b. Not repair or replace the failed part of the Property, and not credit Buyer at settlement for the fair market value of the failed 631 part of the Property. 632 3. If Seller does not repair or replace the failed part of the Property or agree to credit Buyer for its fair market value, or if Seller 633 fails to notify Buyer of Seller’s choice, Buyer will notify Seller in writing within 5 DAYS or before Settlement Date, 634 whichever is earlier, that Buyer will: 635 a. Accept the Property and agree to the RELEASE in Paragraph 28 of this Agreement, OR 636 b. Terminate this Agreement by written notice to Seller, with all deposit monies returned to Buyer according to the terms of 637 Paragraph 26 of this Agreement. 638 If Buyer fails to respond within the time stated in Paragraph 18(B)(3) or fails to terminate this Agreement by written notice 639 to Seller within that time, Buyer will accept the Property and agree to the RELEASE in Paragraph 28 of this Agreement. 640 (C) Seller bears the risk of loss from fire or other casualties until settlement. If any property included in this sale is destroyed and not 641 replaced prior to settlement, Buyer will: 642 1. Accept the Property in its then current condition together with the proceeds of any insurance recovery obtainable by Seller, OR 643 2. Terminate this Agreement by written notice to Seller, with all deposit monies returned to Buyer according to the terms of 644 Paragraph 26 of this Agreement. 584 585 645 Buyer Initials:______________________ ASR Page 11 of 14 Seller Initials:______________________ 19. HOME WARRANTIES (1-10) At or before settlement, either party may purchase a home warranty for the Property from a third-party vendor. Buyer and Seller 648 understand that a home warranty for the Property does not alter any disclosure requirements of Seller, will not cover or warrant any 649 pre-existing defects of the Property, and will not alter, waive or extend any provisions of this Agreement regarding inspections or 650 certifications that Buyer has elected or waived as part of this Agreement. Buyer and Seller understand that a broker who recommends 651 a home warranty may have a business relationship with the home warranty company that provides a financial benefit to the broker. 652 20. RECORDING (9-05) 653 This Agreement will not be recorded in the Office of the Recorder of Deeds or in any other office or place of public record. If Buyer 654 causes or permits this Agreement to be recorded, Seller may elect to treat such act as a default of this Agreement. 655 21. ASSIGNMENT (1-10) 656 This Agreement is binding upon the parties, their heirs, personal representatives, guardians and successors, and to the extent assign657 able, on the assigns of the parties hereto. Buyer will not transfer or assign this Agreement without the written consent of Seller unless 658 otherwise stated in this Agreement. Assignment of this Agreement may result in additional transfer taxes. 659 22. GOVERNING LAW, VENUE AND PERSONAL JURISDICTION (9-05) 660 (A) The validity and construction of this Agreement, and the rights and duties of the parties, will be governed in accordance with the 661 laws of the Commonwealth of Pennsylvania. 662 (B) The parties agree that any dispute, controversy or claim arising under or in connection with this Agreement or its performance 663 by either party submitted to a court shall be filed exclusively by and in the state or federal courts sitting in the Commonwealth of 664 Pennsylvania. 665 23. FOREIGN INVESTMENT IN REAL PROPERTY TAX ACT OF 1980 (FIRPTA) (1-17) 666 The disposition of a U.S. real property interest by a foreign person (the transferor) is subject to the Foreign Investment in Real Property 667 Tax Act of 1980 (FIRPTA) income tax withholding. FIRPTA authorized the United States to tax foreign persons on dispositions of U.S. 668 real property interests. This includes but is not limited to a sale or exchange, liquidation, redemption, gift, transfers, etc. Persons pur669 chasing U.S. real property interests (transferee) from foreign persons, certain purchasers’ agents, and settlement officers are required 670 to withhold up to 15 percent of the amount realized (special rules for foreign corporations). Withholding is intended to ensure U.S. 671 taxation of gains realized on disposition of such interests. The transferee/Buyer is the withholding agent. If you are the transferee/ 672 Buyer you must find out if the transferor is a foreign person as defined by the Act. If the transferor is a foreign person and you fail to 673 withhold, you may be held liable for the tax. 674 24. NOTICE REGARDING CONVICTED SEX OFFENDERS (MEGAN’S LAW) (4-14) 675 The Pennsylvania General Assembly has passed legislation (often referred to as “Megan’s Law,” 42 Pa.C.S. § 9791 et seq.) providing 676 for community notification of the presence of certain convicted sex offenders. Buyers are encouraged to contact the municipal 677 police department or the Pennsylvania State Police for information relating to the presence of sex offenders near a particular prop678 erty, or to check the information on the Pennsylvania State Police Web site at www.pameganslaw.state.pa.us. 679 25. REPRESENTATIONS (1-10) 680 (A) All representations, claims, advertising, promotional activities, brochures or plans of any kind made by Seller, Brokers, their licens681 ees, employees, officers or partners are not a part of this Agreement unless expressly incorporated or stated in this Agreement. 682 This Agreement contains the whole agreement between Seller and Buyer, and there are no other terms, obligations, covenants, 683 representations, statements or conditions, oral or otherwise, of any kind whatsoever concerning this sale. This Agreement will not 684 be altered, amended, changed or modified except in writing executed by the parties. 685 (B) Unless otherwise stated in this Agreement, Buyer has inspected the Property (including fixtures and any personal property spe686 cifically listed herein) before signing this Agreement or has waived the right to do so, and agrees to purchase the Property 687 IN ITS PRESENT CONDITION, subject to inspection contingencies elected in this Agreement. Buyer acknowledges that 688 Brokers, their licensees, employees, officers or partners have not made an independent examination or determination of the 689 structural soundness of the Property, the age or condition of the components, environmental conditions, the permitted uses, nor of 690 conditions existing in the locale where the Property is situated; nor have they made a mechanical inspection of any of the systems 691 contained therein. 692 (C) Any repairs required by this Agreement will be completed in a workmanlike manner. 693 (D) Broker(s) have provided or may provide services to assist unrepresented parties in complying with this Agreement. 694 26. DEFAULT, TERMINATION AND RETURN OF DEPOSITS (1-18) 695 (A) Where Buyer terminates this Agreement pursuant to any right granted by this Agreement, Buyer will be entitled to a return of all 696 deposit monies paid on account of Purchase Price pursuant to the terms of Paragraph 26(B), and this Agreement will be VOID. 697 Termination of this Agreement may occur for other reasons giving rise to claims by Buyer and/or Seller for the deposit monies. 698 (B) Regardless of the apparent entitlement to deposit monies, Pennsylvania law does not allow a Broker holding deposit monies to 699 determine who is entitled to the deposit monies when settlement does not occur. Broker can only release the deposit monies: 700 1. If this Agreement is terminated prior to settlement and there is no dispute over entitlement to the deposit monies. A written 701 agreement signed by both parties is evidence that there is no dispute regarding deposit monies. 702 2. If, after Broker has received deposit monies, Broker receives a written agreement that is signed by Buyer and Seller, directing 703 Broker how to distribute some or all of the deposit monies. 704 3. According to the terms of a final order of court. 705 4. According to the terms of a prior written agreement between Buyer and Seller that directs the Broker how to distribute the 706 deposit monies if there is a dispute between the parties that is not resolved. (See Paragraph 26(C)) This can NOT be blank 707 (C) Buyer and Seller agree that if there is a dispute over the entitlement to deposit monies that is unresolved 15 ______ days (180 if not 708 specified) after the Settlement Date stated in Paragraph 4(A) (or any written extensions thereof) or following termination of the 709 Agreement, whichever is earlier, then the Broker holding the deposit monies will, within 30 days of receipt of Buyer’s written 646 647 710 Buyer Initials:______________________ ASR Page 12 of 14 Seller Initials:______________________ request, distribute the deposit monies to Buyer unless the Broker is in receipt of verifiable written notice that the dispute is the subject of litigation or mediation. If Broker has received verifiable written notice of litigation or mediation prior to the receipt of 713 Buyer’s request for distribution, Broker will continue to hold the deposit monies until receipt of a written distribution agreement 714 between Buyer and Seller or a final court order. Buyer and Seller are advised to initiate litigation or mediation for any portion of 715 the deposit monies prior to any distribution made by Broker pursuant to this paragraph. Buyer and Seller agree that the distribution 716 of deposit monies based upon the passage of time does not legally determine entitlement to deposit monies, and that the parties 717 maintain their legal rights to pursue litigation even after a distribution is made. 718 (D) Buyer and Seller agree that a Broker who holds or distributes deposit monies pursuant to the terms of Paragraph 26 or Pennsylvania 719 law will not be liable. Buyer and Seller agree that if any Broker or affiliated licensee is named in litigation regarding deposit 720 monies, the attorneys’ fees and costs of the Broker(s) and licensee(s) will be paid by the party naming them in litigation. 721 (E) Seller has the option of retaining all sums paid by Buyer, including the deposit monies, should Buyer: 722 1. Fail to make any payments as specified in Paragraph 2, OR 723 2. Furnish false or incomplete information to Seller, Broker(s), or any other party identified in this Agreement concerning 724 Buyer’s legal or financial status, OR 725 3. Violate or fail to fulfill and perform any other terms or conditions of this Agreement. 726 (F) Unless otherwise checked in Paragraph 26(G), Seller may elect to retain those sums paid by Buyer, including deposit monies:: 727 1. On account of purchase price, OR 728 2. As monies to be applied to Seller’s damages, OR 729 3. As liquidated damages for such default. 730 (G) SELLER IS LIMITED TO RETAINING SUMS PAID BY BUYER, INCLUDING DEPOSIT MONIES, AS LIQUI731 DATED DAMAGES. This MUST be checked 732 (H) If Seller retains all sums paid by Buyer, including deposit monies, as liquidated damages pursuant to Paragraph 26(F) or (G), Buyer 733 and Seller are released from further liability or obligation and this Agreement is VOID. 734 (I) Brokers and licensees are not responsible for unpaid deposits. 735 27. MEDIATION (7-20) 736 Buyer and Seller will submit all disputes or claims that arise from this Agreement, including disputes and claims over deposit monies, 737 to mediation. Mediation will be conducted in accordance with the Rules and Procedures of the Home Sellers/Home Buyers Dispute 738 Resolution System, unless it is not available, in which case Buyer and Seller will mediate according to the terms of the mediation 739 system offered or endorsed by the local Association of Realtors®. Mediation fees, contained in the mediator’s fee schedule, will be 740 divided equally among the parties and will be paid before the mediation conference. Legal proceedings may be initiated prior to the 741 completion of the mediation process to stop any statute of limitations from expiring and for the purpose of indexing a lis pendens 742 by Buyer to prevent the transfer of title to a third party when Buyer is seeking to purchase the Property. The parties agree that all 743 proceedings shall be stayed until the completion of mediation and that a court of competent jurisdiction may award attorneys’ fees to 744 the prevailing party should the court find that a party has unreasonably breached this provision or acted in bad faith. Any agreement 745 reached through mediation and signed by the parties will be binding. Any agreement to mediate disputes or claims arising from this 746 Agreement will survive settlement. 747 28. RELEASE (9-05) 748 Buyer releases, quit claims and forever discharges SELLER, ALL BROKERS, their LICENSEES, EMPLOYEES and any 749 OFFICER or PARTNER of any one of them and any other PERSON, FIRM or CORPORATION who may be liable by or 750 through them, from any and all claims, losses or demands, including, but not limited to, personal injury and property damage and 751 all of the consequences thereof, whether known or not, which may arise from the presence of termites or other wood-boring insects, 752 radon, lead-based paint hazards, mold, fungi or indoor air quality, environmental hazards, any defects in the individual on-lot sewage 753 disposal system or deficiencies in the on-site water service system, or any defects or conditions on the Property. Should Seller be in 754 default under the terms of this Agreement or in violation of any Seller disclosure law or regulation, this release does not deprive Buyer 755 of any right to pursue any remedies that may be available under law or equity. This release will survive settlement. 756 29. REAL ESTATE RECOVERY FUND (4-18) 757 A Real Estate Recovery Fund exists to reimburse any persons who have obtained a final civil judgment against a Pennsylvania real 758 estate licensee (or a licensee’s affiliates) owing to fraud, misrepresentation, or deceit in a real estate transaction and who have been 759 unable to collect the judgment after exhausting all legal and equitable remedies. For complete details about the Fund, call (717) 783760 3658. 761 30. COMMUNICATIONS WITH BUYER AND/OR SELLER (1-10) 762 (A) If Buyer is obtaining mortgage financing, Buyer shall promptly deliver to Broker for Buyer, if any, a copy of all Loan Estimate(s) 763 and Closing Disclosure(s) upon receipt. 764 (B) Wherever this Agreement contains a provision that requires or allows communication/delivery to a Buyer, that provision shall be 765 satisfied by communication/delivery to the Broker for Buyer, if any, except for documents required to be delivered pursuant 766 to Paragraph 16. If there is no Broker for Buyer, those provisions may be satisfied only by communication/delivery being made 767 directly to the Buyer, unless otherwise agreed to by the parties. Wherever this Agreement contains a provision that requires or 768 allows communication/delivery to a Seller, that provision shall be satisfied by communication/delivery to the Broker for Seller, if 769 any. If there is no Broker for Seller, those provisions may be satisfied only by communication/delivery being made directly to the 770 Seller, unless otherwise agreed to by the parties. 771 31. HEADINGS (4-14) 772 The section and paragraph headings in this Agreement are for convenience only and are not intended to indicate all of the matter in the 773 sections which follow them. They shall have no effect whatsoever in determining the rights, obligations or intent of the parties. 711 712 774 Buyer Initials:______________________ ASR Page 13 of 14 Seller Initials:______________________ 775 32. 776 777 778 779 780 781 782 783 784 785 786 SPECIAL CLAUSES (1-10) (A) The following are attached to and made part of this Agreement if checked: Sale & Settlement of Other Property Contingency Addendum (PAR Form SSP) Sale & Settlement of Other Property Contingency with Right to Continue Marketing Addendum (PAR Form SSPCM) Sale & Settlement of Other Property Contingency with Timed Kickout Addendum (PAR Form SSPTKO) Settlement of Other Property Contingency Addendum (PAR Form SOP) Appraisal Contingency Addendum (PAR Form ACA) Short Sale Addendum (PAR Form SHS) All addendums must be noted here (unless specified by both parties not to be) ____________________________________________________________________________________________________ Everything here will need to be sent to the lender. ____________________________________________________________________________________________________ ____________________________________________________________________________________________________ (B) Additional Terms: Any additional terms will be noted here 787 788 789 790 791 792 793 794 795 796 797 798 799 800 801 Buyer 802 This and Seller acknowledge receipt of a copy of this Agreement at the time of signing. Agreement may be executed in one or more counterparts, each of which shall be deemed to be an original and which counterparts shall constitute one and the same Agreement of the Parties. 803 together TO PARTIES: WHEN SIGNED, THIS AGREEMENT IS A BINDING CONTRACT. Parties to this transaction are to consult a Pennsylvania real estate attorney before signing if they desire legal advice. 804 NOTICE 805 advised 806 Return 807 parties, of this Agreement, and any addenda and amendments, including return by electronic transmission, bearing the signatures of all constitutes acceptance by the parties. 808 ____________ Buyer has received the Consumer Notice as adopted by the State Real Estate Commission at 49 Pa. Code §35.336. 809 ____________ Buyer has received a statement of Buyer’s estimated closing costs before signing this Agreement. 810 ____________ Buyer has received the Deposit Money Notice (for cooperative sales when Broker for Seller is holding deposit money) before signing this Agreement. 811 LPD- lead paint disclosure, this must be initilated if the home was built before 1978 812 ____________ 813 Buyer has received the Lead-Based Paint Hazards Disclosure, which is attached to this Agreement of Sale. Buyer has received the pamphlet Protect Your Family from Lead in Your Home (for properties built prior to 1978). 814 BUYER ________________________________________________________ DATE _____________________________________ ________________________________________________________ DATE _____________________________________ 816 BUYER ________________________________________________________ DATE _____________________________________ 815 BUYER 817 Seller 818 Seller has received the Consumer Notice as adopted by the State Real Estate Commission at 49 Pa. Code § 35.336. has received a statement of Seller’s estimated closing costs before signing this Agreement. 819 SELLER _______________________________________________________ DATE _____________________________________ _______________________________________________________ DATE _____________________________________ 821 SELLER _______________________________________________________ DATE _____________________________________ 820 SELLER Executed date will be the LAST date of any initials (all parties could have different dates so check each one) Executed date is day 0. All executed dates start at 1 the day AFTER executed date. ASR Page 14 of 14

Pennsylvania Association of Realtors Standard Agreement PDF

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