Buyer's Sale of Residence Contingency

RIDER

Buyer's Sale of Residence Contingency

(a) "Buyer's Residence," commonly known as:

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is currently for sale or will be placed for sale within _________ (___) calendar days after the date of this Contract. Buyer may terminate this Contract in the manner specified below if, by ____________________, 199_ (the "Sale Contingency Date"), the Buyer does not:

(1) Enter into a contract for the sale of Buyer's Residence that:

[Strike (a) or (b)]

(a) does not have a financing and/or initial inspection contingency; or

(b) may have a financing and/or initial inspection contingency that is or are waived or satisfied no later than the Sale Contingency Date.

(2) Close the sale of Buyer's Residence. [Strike if not applicable.]

In order to exercise Buyer's right to terminate under this provision, Buyer must give notice to Seller within seven (7) days after the Sale Contingency Date that the events listed above have not occurred. Upon receipt of such notice, all earnest money shall be returned immediately to Buyer. IF BUYER DOES NOT GIVE NOTICE TO SELLER OF SUCH TERMINATION WITHIN THE TIME SPECIFIED, THIS CONTINGENCY SHALL BE DEEMED TO HAVE BEEN WAIVED.

(b) Seller reserves the right to continue to market the Property until this contingency is waived by Buyer or is deemed to have been waived. If Seller accepts a bona fide offer from a third party to purchase the Premises [which offer does not contain a buyer's sale contingency] at any time before Buyer has given Seller notice that this contingency has been waived or satisfied and if Seller wishes to terminate this Contract, Seller shall give notice to Buyer of Seller's election to terminate this Contract, enclosing a copy of the contract with the third party. If Buyer does not waive this contingency and all other contingencies contained in this Contract (other than Seller's duties and obligations), including any financing contingency, within seven (7) days after receipt of such notice, this Contract shall terminate and all earnest money and interest earned on such earnest money shall be returned immediately to Buyer.

This Rider shall supersede any inconsistent provisions in the Contract.

Date: _______________________, 199_.

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Seller

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Buyer

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Seller

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Buyer