Section 4. Purchase Price and Terms

4. PURCHASE PRICE AND TERMS.
4.1. Price and Terms. The Purchase Price set forth below is payable in U.S. Dollars by Buyer as
Item No. Reference Item Amount Amount
1 4.1 Purchase Price
2 4.3 Earnest Money
3 4.5 New Loan
4 4.6 Assumption Balance
5 4.7 Private Financing
6 4.7 Seller Financing
7 n/a n/a
8 n/a n/a
9 4.4 Cash at Closing
10 TOTAL
4.2. Seller Concession. At Closing, Seller will credit to Buyer $ n/a (Seller Concession). The
Seller Concession may be used for any Buyer fee, cost, charge or expenditure to the extent the amount is
allowed by the Buyer’s lender and is included in the Closing Statement or Closing Disclosure at Closing.
Examples of allowable items to be paid for by the Seller Concession include, but are not limited to: Buyer’s
closing costs, loan discount points, loan origination fees, prepaid items and any other fee, cost, charge,
expense or expenditure. Seller Concession is in addition to any sum Seller has agreed to pay or credit Buyer
elsewhere in this Contract.
4.3. Earnest Money. The Earnest Money set forth in this Section, in the form of a n/a, will be
payable to and held by n/a (Earnest Money Holder), in its trust account, on behalf of both Seller and Buyer.
The Earnest Money deposit must be tendered, by Buyer, with this Contract unless the parties mutually agree to
an Alternative Earnest Money Deadline for its payment. The parties authorize delivery of the Earnest Money
deposit to the company conducting the Closing (Closing Company), if any, at or before Closing. In the event
Earnest Money Holder has agreed to have interest on Earnest Money deposits transferred to a fund
established for the purpose of providing affordable housing to Colorado residents, Seller and Buyer
acknowledge and agree that any interest accruing on the Earnest Money deposited with the Earnest Money
Holder in this transaction will be transferred to such fund.
4.3.1. Alternative Earnest Money Deadline. The deadline for delivering the Earnest
Money, if other than at the time of tender of this Contract, is as set forth as the Alternative Earnest Money
Deadline.
4.3.2. Return of Earnest Money. If Buyer has a Right to Terminate and timely
terminates, Buyer is entitled to the return of Earnest Money as provided in this Contract. If this Contract is
terminated as set forth in § 25 and, except as provided in § 24 (Earnest Money Dispute), if the Earnest Money
has not already been returned following receipt of a Notice to Terminate, Seller agrees to execute and return to
Buyer or Broker working with Buyer, written mutual instructions (e.g., Earnest Money Release form), within
three days of Seller’s receipt of such form.
4.4. Form of Funds; Time of Payment; Available Funds.
4.4.1. Good Funds. All amounts payable by the parties at Closing, including any loan
proceeds, Cash at Closing and closing costs, must be in funds that comply with all applicable Colorado laws,
including electronic transfer funds, certified check, savings and loan teller’s check and cashier’s check (Good
Funds).
4.4.2. Time of Payment; Available Funds. All funds, including the Purchase Price to be
paid by Buyer, must be paid before or at Closing or as otherwise agreed in writing between the parties to allow
disbursement by Closing Company at Closing OR SUCH NONPAYING PARTY WILL BE IN DEFAULT. Buyer
represents that Buyer, as of the date of this Contract, Does Does Not have funds that are immediately
verifiable and available in an amount not less than the amount stated as Cash at Closing in 4.1.
4.5. New Loan.
4.5.1. Buyer to Pay Loan Costs. Buyer, except as otherwise permitted in 4.2 (Seller
Concession), if applicable, must timely pay Buyer’s loan costs, loan discount points, prepaid items and loan
origination fees as required by lender.
4.5.2. Buyer May Select Financing. Buyer may pay in cash or select financing
appropriate and acceptable to Buyer, including a different loan than initially sought, except as restricted in
4.5.3 (Loan Limitations) or 30 (Additional Provisions).
4.5.3. Loan Limitations. Buyer may purchase the Property using any of the following
types of loans: Conventional FHA VA Bond Other n/a.
4.5.4. Loan Estimate – Monthly Payment and Loan Costs. Buyer is advised to review
the terms, conditions and costs of Buyer’s New Loan carefully. If Buyer is applying for a residential loan, the
lender generally must provide Buyer with a Loan Estimate within three days after Buyer completes a loan
application. Buyer also should obtain an estimate of the amount of Buyer’s monthly mortgage payment.
4.6. Assumption. Buyer agrees to assume and pay an existing loan in the approximate
amount of the Assumption Balance set forth in 4.1 (Price and Terms), presently payable at $ n/a per n/a
including principal and interest presently at the rate of n/a % per annum and also including escrow for the
following as indicated: Real Estate Taxes Property Insurance Premium Mortgage Insurance
Premium
and n/a.
Buyer agrees to pay a loan transfer fee not to exceed $n/a. At the time of assumption, the new
interest rate will not exceed n/a % per annum and the new payment will not exceed $ n/a per n/a principal
and interest, plus escrow, if any. If the actual principal balance of the existing loan at Closing is less than the
Assumption Balance, which causes the amount of cash required from Buyer at Closing to be increased by
more than $ n/a, or if any other terms or provisions of the loan change, Buyer has the Right to Terminate
under § 25.1 on or before Closing Date.
Seller Will Will Not be released from liability on said loan. If applicable, compliance with the
requirements for release from liability will be evidenced by delivery on or before Loan Transfer Approval
Deadline at Closing of an appropriate letter of commitment from lender. Any cost payable for release of
liability will be paid by n/a in an amount not to exceed $n/a.
4.7. Seller or Private Financing.
WARNING: Unless the transaction is exempt, federal and state laws impose licensing, other requirements and
restrictions on sellers and private financiers. Contract provisions on financing and financing documents, unless
exempt, should be prepared by a licensed Colorado attorney or licensed mortgage loan originator. Brokers
should not prepare or advise the parties on the specifics of financing, including whether or not a party is
exempt from the law.
4.7.1. Seller Financing. If Buyer is to pay all or any portion of the Purchase Price with Seller
financing, Buyer Seller will deliver the proposed Seller financing documents to the other party on or
before n/a days before Seller or Private Financing Deadline.
4.7.1.1. Seller May Terminate. If Seller is to provide Seller financing, this Contract is
conditional upon Seller determining whether such financing is satisfactory to the Seller, including its payments,
interest rate, terms, conditions, cost and compliance with the law. Seller has the Right to Terminate under §
25.1, on or before Seller or Private Financing Deadline, if such Seller financing is not satisfactory to Seller, in
Seller’s sole subjective discretion.
4.7.2. Buyer May Terminate. If Buyer is to pay all or any portion of the Purchase Price with
Seller or private financing, this Contract is conditional upon Buyer determining whether such financing is
satisfactory to Buyer, including its availability, payments, interest rate, terms, conditions and cost. Buyer has
the Right to Terminate under § 25.1, on or before Seller or Private Financing Deadline, if such Seller or
private financing is not satisfactory to Buyer, in Buyer’s sole subjective discretion.