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HomeMy WebLinkAbout01-18-12i~~ ~~i~ '...'. r-' ,..... ~ Andrew H. Shaw, Esquire -' _ LD. No: 87371 200 S. Spring Garden St., Suite 11 Carlisle, PA 17013 (717)243-7135 ~ ' Attorney for Good News Consulting, Inc., Petitioner -~ - '=~= IN THE COURT OF COMMON PLEAS OF CUMBERLAND COUNTY, PENNSYLVANIA ORPHANS' COURT DIVISION IN RE: MARGARET H. FICK NO. 21-11-0294 An Incapacitated Person PETITION FOR PERMISSION TO SELL REAL ESTATE AT PRIVATE SALE IN AC- CORDANCE WITH 20 PA. CONS. STAT. ANN. § 5521 Petitioner, Good News Consulting, Inc., guardian of the Estate of Margaret H. Fick, an inca- pacitated person, represents that: 1. Margaret H. Fick was adjudged incapacitated after a hearing, by Decree of this Hon- orable Court, dated Apri120, 2011. 2. The incapacitated person is now a patient at Green Ridge Village, 210 Big Spring Road, Newville, Pennsylvania 17241. 3. The incapacitated person is 90 years of age, and is never expected to return to her home or be released from the nursing home. 4. The incapacitated person acquired title to the premises located at 1677 Old Kiln Drive, Chambersburg, Pennsylvania from on or about January 11, 2000. 5. The total value of the incapacitated person's assets is as follows: a. Prudential Life Insurance Policy $ 3,517.44; b. CUNA Mutual Life Insurance Policy $ 1,807.75; c. Stock $ 29,306.14; d. Personal residence, as appraised July 26, 2011, $155,000.00; e. Total Value: $189,631.33. 6. By Order dated December 22, 2011, this Court approved the surrender of the life in- surance and the liquidation of the stock. 7. The value of the real estate to be sold as included in the inventory was recently ap- praised at $ 155,000.00. A copy of the appraisal is attached hereto as Exhibit A. 8. No creditors currently exist but within the month, upon the termination of insurance benefits, annual expenses of approximately $108,000 for the nursing home will be incurred by peti- tioner on the incapacitated person's behalf. 9. It is necessary and in the best interests of the incapacitated person that the property be sold since it produces no income and incurs monthly and annual expenses for heat, utilities, maintenance and property taxes. 10. The incapacitated person receives total annual income of $23,532.00, comprised of Social Security of $15,792.00, pension payments of $7,740.00 and annual dividends of approxi- mately $1,527.80, which annual income will be insufficient to pay the expenses of Green Ridge Vil- lage. 11. Petitioner is not authorized to sell the real estate except by order of the Court. 12. Petitioner is not required to post bond, but has been directed by this Honorable Court to maintain current liability insurance. 13. Petitioner is not aware of any Last Will and Testament of the incapacitated person. 14. The names, relationships and addresses of the living next-of--kin of the incapacitated person are as follows: a. Gary Fick, son, 105 E. Allen Street, Apt. 202, Mechanicsburg, PA 17055; b. Kevin Fick ,son, 105 E. Allen Street, Apt. 202, Mechanicsburg, PA 17055; 15. The purchasers are Bradley and Amanda Walls, who are unrelated parties to the in- capacitated person. 16. The purchaser has offered to purchase the property for $152,000.00, with 6% seller assist, with settlement to be held on or before February 21, 2012, subject to Court approval of the agreement of sale. A copy of the agreement of sale is attached as Exhibit B. 17. The computation of estimated net proceeds, $125,817.17, net of real estate broker's commissions and transfer taxes, is attached as Exhibit C. 18. The Honorable Edward E. Guido has ruled in previous petitions for this matter. WHEREFORE, petitioner requests that the Court enter an order authorizing the sale of the premises, 1677 Old Kiln Road, Chambersburg, PA 17201, to Bradley and Amanda Walls as repre- sented in the attached Agreement of Sale. Date: ~ J ~ ~ `" ~~ Respectfully submitted, By: Andrew . S aw, squire Sup. Ct. ID No. 87371 200 S. Spring Garden St., Suite 11 Carlisle, PA 17013 (717) 243-7135 Attorney for Petitioner, Good News Consulting, Inc. VERIFICATION I verify that the statements made in this Petition are true and correct. I understand that false statements herein are made subject to the penalties of 18 Pa.C.S. Section 4904, relating to unsworn falsification to authorities. / //11 <~,,-,/~--~~,I Date: r_ ~(rj `~y~~ ~!`7~ Tina Hess, Vice President of Operations of Good News Consulting, Inc. Borrower Mar aret Fick File No. Pro AddreSS 1677 Old Kiln Dr Ci Chambersbur Cou Franklin State PA L Code 17202-9220 Lender raisal for Valuation Pur ses APPRAISAL AND REPORT IDENTIFICATION This Appraisal Report is tma of the following types: ^ Self Conhrined (A written report prepared under Standards Rule 2-2(a) , persuant to the Scope of Work, as disclosed elsewhere in this report.) ®Summary (A written report prepared under Standards Rule 2-2(b) , persuant to the Scope of Work, as disclosed elsewhere in this report.) ^ ResMcted Use (A written report prepared under Standards Rule 2-2(c) , persuant to the Scope of Work, as disclosed elsewhere in this report, restricted to the stated intended use by the specified client or intended user.) Comments on Standards Rule 2-3 I certify that, to the best of my knowledge and belief: -The statements of fact contained in this report are troe and correct. -The reported anatyses, opinions, and conclusions are limited ony by the reported assumptions and limiting conditions and are my personal, impartial, and unbiased professional analyses, opirxons, and conclusions. - I have no (or the specified) present or prospective interest in the property that is the subject of this report and no (or the specified) personal interest wtlh respect to the parties involved. - I have no bias with respect to the property that is the subject of this report or the parties involved with this assignment. - My engagement in ifds assignment was not contingent upon devebping or reporting predetermined resuhs. - My compensation for completing this assignment is not contingent upon the devebpmerd or reporting of a predetermined value or direction in value that favors the cause of the client, the amount of tfx: value opinion, the attainment of a stipulated result, or the occurrence of a subsequent event direcity related to the intended use ai this appraisal. - My anatyses, opinions, and conclusions were developed, and this report has been prepared, inconformity with the Uniform Standards of Professional Appraisal Practice that were in effect at the time this report was prepared. -Unless otherwise indicated, I have made a personal inspection of the property that is the subject of this report. -Unless otherwise indicated, no one provided significant real property appraisal assistance to the person(s) signing this certification (rf there are exceptions, the name of each individual providing significant real property appraisal assistance is stated elsewhere in this report). -Unless otherwise indicated, I have pertormetl no services regaNing the subject property within the prior ttxee years, as an appraiser or in arty other capacity. Comments on Appraisal and Report Identification Note any USPAP related issues requiring disclosure and any State mandated requirements: APPRAISER: SUPERVISORY APPRAISER (only if required): 1 '~ i //,f E .,f Signature: `-~]'~{(',(,ti-1_~' ~^~~~~,ti~~, ~ Signature: Name: Nicole D. tin _ Name: Designation: Certified Residential Appraiser Designation: Date Signed: July 26, 2011 Date Signed: State Certlficadon #: RL139677 State Certification #: or State License #: or State License #: State: PA State: Expiration Date of Certification or License: 0613 0/2 01 3 E>griration Date of Certification or License: Supervisory Appraiser inspection of Subject Property: Effective Date of Appraisal: Julv 22, 2011 ^ Did Not ^ Exterior-only from street ^ Interior and Exterior EXHIBIT FormID10-' 1-804ALAMODE Ausfxxman Bros. Real Estate Inc. R ESIDENTIAL APPRAISAL SUMMARY REPORT FIIeNo.: Pro Address: 1677 Old Kiln Dr C' :Chambersbur State: PA Z Code: 17202-9220 F Cou :Franklin Le al Descri lion: Deed Book Vol 1473, Pa a 92 ~ Assessor's Parcel #: 11-OE17-235 w Tax Year: 2011 R.E. Taxes: $ 2905 S eclat Assessments: $ 0.00 Borrower 'rf a livable : Ma aret Fick Current Owner of Recgrd: Mar aret Fick Occu ard: Owner Tenant Vacant Manufactured Housi Pro ect T e: PUD Condominium Coo rafive Odrer describe HOA: $ rear r ngnttr Market Area Name: HamiRon Townshi Ma Reference: 11-0E17-235 Census Tract: 0113.00 The se of tHs a sisal is to deveb an o inion of: Market Value as defined , or other of value describe This re rt reflects the tolbwi value d not Cunent, see cgnrrierds : Cunent the Ins lion Date is the Effective Date Retros ive Pros ive A oaclres deveb for this a sisal: Sales Co rtson A roach Cost A roach Income A roach See Reconciliation Commems and Sco of Work ~ Pro Ri Ms aised: Fee Si k Leasehold Leased Fee OUrer describe Z Intended Use: This_appraisal is being completed to establish a current market value of the subject property. Intended Users b name or e : Good News Consuttin Inc. Client: sisal for Valuation Pu ses Address: N/A A raiser: Nicole D. Stine Address: 229 North Second Street Chambersbur PA 17 201 ~ ~{ G Location: Urban Suburban Rural PredominaM One-Unit Housing Present Land Use Change in Land Use Built up: ^ Over 75% ®25-75% ^ Under 25% Occupancy PRICE AGE One-Untt 60 % ®Not Likety Growth rate: ^ Rapid ®Stable ^ Slow ®Owner $(1100) (yrs) 2-4 Unit % ^ Likery * ^ In Process Property values: ^ Increasing ®Stable ^ Declining ^ Tenant 100 Low New Multi-Urrt % * To: Demand/suppry: ^ Shortage ®In Balance ^ Over Supply ^ Vacard (0-5%) 250 Hi h 100+ Comm'I % Marked lime: Under 3 Mos. 3-6 Mos. Over 6 Mos. Vacant >5% 150 Pred 15 Vacant 40 % Market Area Boundaries, Description, and Market Conditions (including support for ttre above characteristics and trends): Bounded by PA Route 30 to the north. Leafmore Rd to south, Warm Spring Rd to the east and Forest Rd to the west. The immediate area is a mix of various sMe housing wtth the surrounding land in farmland. The area Ls approximately 60% built up wtth the remaining 40% in vacant unimproved land. It is located within a short driving distance to schools, shopping and employment wRhin the Chambersburg area. Dimensions: 100x150 Site Area: 15 000 5 .Ft. Zoning Classification: None Exists Description: Deed restrictions regulate land use Zoni Com fiance: Legal Le al ranconformi randfathered II al No zoning Are CC&Rs a Ncable? Yes No Unknown Have the documents been reviewed? Yes No Ground Rent rf livable $ / Highest & Best Use as improved: ®Present use, or ^ Other use (explain) Z v G Actual Use as of Effective Date: Residential use Use as appraised in this report: Residential Dwellin Summary of Highest & Best Use: The subject property is a single family dwelling situated on 0.34 acres of land. The highest and best use of the subject property would be it's present use as residential. Utilities Public Other ProvidedDescription Ofl-site Improvements Type Public Private Topography Rolling Electdcity ® ^ Public Utility Svc Street Asphalt ® ^ Size 0.34 Acres Gas ® ^ Public Utility Svc Curb/Gutter N!A ^ ^ Shape Rectangular Water ® ^ Public Utility Svc Sidewalk N/A ^ ^ Drainage Appears Adequate Sanitary Sewer ® ^ Public Utility Svc Street Lights N/A ^ ^ View Avera e Stone Sewer Public Utili Svc Alle N/A ^ Other site elemerds: Inside lot Corner Lot Cul de Sac Under round Utilities Other describe FEMA S ec'I Flood Hazard Area Yes No FEMA Flood Zane X FEMA Ma # 42165100156 FEMA Ma Date 6/18/1990 Site Comments: The subject property is a rectangular shaped parcel containing a total of 0 34 Acres according to the Franklin County Courthouse Records. No adverse site conditions noted. General Descripton # of Urns 1 ^ Acc.Unft Fxterbr Descrlpton Foundation Conc Blk/Av Foundation Slab No Basement None Area Sq. Ft. 1 943 Heating Type Fha # of Stories 1 Exterior Walls BricklAv Crawl Space No % Fnislx:d 0 Fuel oil Type ®Det. ^ Att. ^ Roof Surface As haltSh I/Av Basement Bsmt Ceiling Flr Joist Design (Style) Ranch ®ExisNrg ^ Proposed ^ Und.Cons. Actual Age (Yrs.) 12 Gutters & Dwnspts. AIumNAv Window Type D.Hun IAv StomVScreens Yes/Yes/Av Sump Pump ^ N/A Dampness ^ No Evid Settlement None Evid Walls Concrete Fbar Cement Outside Entry Yes/Av Cooling Central C.Air Other NIA Effective A e rs. 12 Infestation None Evid tntedor Descripton Fbors C UCermIViNAv yq Walls D II/Av Appliances Refrigerator ~ RangelOven ~ Attk ®None Stairs ^ Drop Stair ^ Amenttles Rreplace(s) # 1 Fpl Woodstove(s) # Patio None Car Storage ^ None Garage # of cars ( 4 Tot.) Attach. 2 Garage ~ TriMRnish Wood/Av Disposal ^ Scuttle ^ Deck Rear Detach. W Bath Fkwr Vin !Av t)ishwasher ® Doorway ^ Porch Front BR-In Baih Wainscot Fib Is/Av FaNHootl ^ Fbor ^ Fence No Fence __ Carport C Doors Hollowcore/Av Microwave ^ Heated ^ Pool No Pool _ Driveway 2 Driveway Z Washer/D er Fnished Surface As haft Drive Flnished area above rode contains: 7 Rooms 3 Bedrooms 2 Baths 1 943 S ware Feet of Gross Livin Area Above Gratle Addigonal features: The subject contains seven rooms. three bedrooms and two full baths full unfinished basement front porch rear deck oil fired furnace central air and an attached two car ara e. Describe the condlNon of the property (including physical, functional and exlemal obsolescence): The overall condition of the subject property would be considered average. ~,;, HE51 UE NTIAL ~""'. "..G _°°~ " °,°,,,"~", .,° ,,,,° ,,.,,,,,,,,~ ,~ ,w, W°eo~ °,,.,,w...°° me,w~.~e~a, Nenmane,, nuwerei, a e moue, me muss ce acen°w~eoge° ana erearte°. Form GPRES2 -'WinTOTAL' appraisal software by a la mode, inc. -1-800-ALAMODE 3/2007 RESIDENTIAL APPRAISAL SUMMARY REPORT FIIeNo.: ~ My research did dfd not reveal any prior sales or transfers of the subject property for the three years prior to the effective date of this appraisal. Data Sources : Franklin Coun Courthouse Records O 1st Prior Subject SaleJTranster Anaysis of saleJtransfer history and/or arty current agreement of saleJNsting: The last recorded transfer was on January ~ Date: 1-11-2000 1, 2000 in deed book vol 1473, Page 92. a Price: 138 000 ~u Sources :Courthouse 2nd Prior Subject Sale/Transfer Date: Price: Sources SALES COMPARISON APPROACH TO YALUE 'rf develo d The Sales Co orison roach was not deveb ed for this a sisal. FEATURE SUBJECT COMPARABLE SALE # 1 COMPARABLE SALE # 2 COMPARABLE SALE # 3 Address 1677 Old Kiln Dr Chambersbur PA 17202-9220 96 Jameslee Drive Chambersbur 1980 Maylinn Drive Chambersbur 1960 Woodduck Drive West Chambersbur Pro>am' to Subject 1.10 miles N 1.06 miles N 0.59 miles SW Sale Pdce $ N/A $ 142 500 $ 165 000 $ 149 900 SalePrice/GLA $ / .tt. $ 97.20/s .tt. $ 119.05ls .ft. $ 85.85ls .tt. Data Sources Ins ection MLS MLS MLS Verflication Sources Courthouse Courthouse Courthouse Courthouse VALUE ADJUSTMENTS DESCRIPTION DESCRIPTION + - $ Ad'ust. DESCRIPTION + - $ Ad'ust. DESCRIPTION + - $ Ad'ust. Sales or Fnancing Concessions N!A NIA Conv Sale No Concess Conv Sale No Concess Conv Sale No Concess Date of Sale/Time N/A 6!30/2011 5!27!2011 5!27!2011 Ri MS raised Fee Sim le Fee Sim le Fee Sim le Fee Sim le Location ResidlAv ResidlAv Resid/Av Resid/Av Site 15 000 S .Ft. 18 731 S Ft 12 632 S Ft 12 197 S Ft View Avera a Avera a Avera a Avera e Desi n S b Ranch Ranch Ranch Slit Level Quali of ConslmCOon Brick/Av BricklAv BricklAv Vin Av +5 000 A e 12 29 +3,500 26 +3,000 10 Condition Avera a Avera a Avera a Avera e Above Grade Total Bdrms BatlGS Total Bdrms Baths Total Bdrms Baths Tdal Bdrms Baths Room Courrt 7 3 2 7 3 2 7 3 2.5 -1,500 7 3 2 Gross LiNn Area 1 943 5 .ft. 1 466 S .tt. +7 155 1,386 s .ft. +8,355 1,746 s .ft. +2 g55 Basemerd & Flnished ROORIS Bebw Grade Bsmt Unfinished Bsmt Fam Rm -3 000 Bsmt Full Finished -10,000 Bsmt Fam Rm -3 000 Functionalllbl' Avera a Avera a Avera a Avera e Heati Co01i Fha/C.Air Fha/C.Air HwbblC.Air Fha/C.Air = Ener Efficient Items Insul Wind Insul Wind Insul Wind Insul Wind Q Gara e/Ca rt 2 Car Gara e 2 Car Gara e 2 Car Gar 2 Car Gara e a Porch/Patio/Deck PorchlDeck PorchlDeck PorchlPatio Porch/Deck qd Kitchen Std Kitchen Std Kitchen Std Kitchen Std Kitchen q Fire lace Omer 1 F 1 None No F 1 None +1,000 1 F 1 None No F I None +1,000 ' Net Ad ustment Total + - $ 8 655 + - $ -145 + - $ 5 955 ~ ~ ~ Adjusted Sale Price Net 6.1 % Net 0.1 % Net 4.0 % of Com ambles Gross 10.3 % $ 151,155 Gloss 13.9 % $ 164,855 Gross 8.0 % $ 155,655 Summary of Sales Comparison Approach All three sales are similar and would appeal to the same market as the subject property Comparable sales #1 and #2 exceed one mile from the subject however due to limited market activity R was necessary to expand the search perameter to locate sales similar to that of the subject. Comparable sales #1 and #2 are older dwellings therefore an age adjustment warranted All three sales contain finish space bebw grade therefore adjusted accordingly. These sales as well as other sales and current market offerings have been researched. The above sales represent the best currently available known to the appraiser at this time Indicated Value b Sales Can son roach $ 1 ss o00 ~ ~w„ro,,,a w.. „r .,. ,,v,,., .,~. ,,,,, ,w,~, ,,,er.e ~gnw.~w mnnuunnu mmwi wimmi pmm~sswe, nowaver, a w7 moae, nc. muss oe acrnowieagea ana cretlrtea. Form GPRES2 -'WinTOTAL' appraisal software by a la mode, inc. -1-800-ALAMODE 3/2007 RESIDENTIAL APPRAISAL SUMMARY REPORT ProNde ad uate information for re kcatbn of the folbwi cost fi ores and tabulations. Support far ttte opinbn of site value (summary of comparable land sales or other methods far estimating site value): Of SITE VALUE on Gost Approach (gross living area tabulations, depreciation, etc.): Esgmated Remairxnd Ecoramc Life BY COST APPROACH External Estlmated MantN Market Rent $ X Gross Rent Multi tier = $ Indkated Value Income A roach Summary of Income Approach (including suppat for market rent and GRM): FOR PUDs common elements and recreagonal facilities: Value bv: Sales Tres appraisal is made Qg "as is", LJ subject to completion per plans and specifications on the basis of a Hypothegral Condition that the improvements have been completed, ^ subject to the folbwing repairs or atteratlons on the basis of a Hypothetical Condition that the repairs or atteratlons have been competed, ^ subject to the foNowing required inspection based on the Extraordinary Assumption that the condition or deficiency does not require alteration or repair: LJ This report is also subject to other Hypothetical Condigons aallor Extraerdirrary Assumptions as specrfed in the attached addenda Based on the degree of inspection of the subject property, as indicated below, defined Scope of Work, Statement of Assumptions and Limiting Conditions, and Appraiser's Certffications, my (our) Opinion of the Markel Yalue (or other specified value type, as defined herein, of the real property that is the subject of this report is: S 155,000 as of: July 22, 2011 ,which is the effective date of this appraisal. If indicated above, this Opinion of Value is subject to Hypothetical Conditions and/or Extraordinary Assumptions included in this report. See attached addenda. A true and complete copy of this report contains 13 pages, including exhibits which are considered an integral part of the report. This appraisal report may rat be propery understood without reference to the information comained in the complete report. Attached Exhibits: ® Scope of Work ®LirtWting CondJCertifications ^ Narrative Addendum ®Photograph Addenda ®Sketch Addendum ® Map Addenda ^ Additional Sales ^ Cost Addendum ^ Fbad Addendum ^ Manut. House Addendum Ghent Contact: Krishna Trostle C E-Mail: ktrostle(p~poodnewsconsultinp.com Address: APPRAISER W f , q Appraiser a Nicole D. Stine Comparry: Ausherman Bros Real Estate Inc oq Phone: 717-264-6715 Fax: 717-264-4973 E-Mail: niC'.Oles(t~pa.net Date of Report (Signature): Julv 26. 2011 License or Certification #: RL139677 State: PA Designation: Certfied Residential Appraiser Expiraton Date of License or Certification: 06/30/2013 Inspectlon of Subject: ®Interior & Exterior ^ Extera Onry ^ None Date of Ins ctlon: Jul 22 2011 m RE51 D E NTIA~ Copyright® 2007 by a h mode, ec. This tarn may ee n Fonn GPRES2 -'WinTOTAL' appraisal spites Appraisal for Valuation Purposes SUPERVISORY APPRAISER (if required) or CO-APPRAISER (if applicable) Supervisory or Co-Appraiser Name: Comparry: Fax: Date of Report (Signatum): License or Certlttcakon #: State: Designation: Expiration Date of License or Cerfiticatlon: Inspection of Subject: ^ Interior & Exterior ^ Extera Onry ^ None arP, hV a la rIN1AP. inr. - 1-Alin-AI AAAnnF must 3/2007 Building Sketch Borrower Mar aret Fick Pro Address 1677 Old Kiln Dr Ci Chambersbur Cou Franklin State PA Z Code 17202-9220 Lender sisal for Valuation Pur ses ~a~ CommeMS: AREA CALCULATIONS SUMMARY CaM Dseeripdon NatSi» iWtTofYs G1.i11 First Floor 193.0 193.0 GAR Garage 625.0 625.0 P/P Porch 168.0 168.0 LIVING AREA BREAKDOWN SubloLls First Floor 7I.0 x 15.0 1110.0 17.0 x X9.0 833.0 Net ENABLE Area (rounded) ~ 1943 2 Items (rounded) ~ 1943 Form SKT.BIdSkI - "WinTOTAL' appraisal software by a la mode, inc. -1-800-ALAMODE zr zs Location Map Borrower Mar aret Fick Pro AddteSS 1677 Old Kiln Dr C Chambersbur COU Franklin 51ate PA L Code 17202-9220 Lender sisal for Valuation Pur ses a la mode inC: ~, ~,n..~k». c ~unte'a`' ~~ ~`zr.E+A ~a~~ . ~ ao L..tTita~T1 ~~ d h'''am ~T~~ ~~ Rr ~ ~,afkty t~ >.~ ~°" P ., ~r :, ~~ 'D+ias~n ~ Mi rh 3a ,~ _ ~'d. J 4 ., ~fy~o ~ ~ ~a ~ x r .,'may ~`~ u ~ ~rc~ dye yc r $4YerA1~+r ka ~~ ~ tearr,o~~a C+` ~a t~ '~ a ~t z~'¢ ~. ~ ~ ,~ Ur ~ Z A7,.(j~k 6` ,. 'C~'" SQ~~ a~' b ~'rs ~~ r~snt~~ a~ F3~:h, ~ i 995, tT C biflc~ '^ tit ~f" ~ n,~ AMR ry s ~ 4'Q5 Farm MAP.LOC -'WinTOTAL" appraisal software by a la mode, inc. -1-800-ALAMODE Subject Photo Page Borrower Mar aret Fick Pro Address 1677 Ok1 Kgn Dr C' Chambersbur COU Franklin State PA Z Code 17202-9220 Lender raisal for Valuation Pur oses Subject Front 1677 Old Kiln Dr Sales Price NIA Gross Living Area 1,943 Total Rooms 7 Total Bedrooms 3 Total Bathrooms 2 Location ResidlAvg Yew Average Site 15,000 Sq.Ft. Quality Brick/Avg Age 12 Subject Rear Subject Street ~^r _ , _ ~ - . ~y~y{~ _ ~,~ ~ fir w~ r r ~! d''~: - ~. yff Form PICPD(.SR -'WinTOTAL~ appraisal sottware by a la mode, inc. -1-800-ALAMODE 1 I 4 IMF. Interior Photos Borrower Mar aret Fick Pro Address 1677 Old KUn Dr C~ Chambersbur CoU Franklin State PA L Cotle 17202-9220 Lender raisal for Valuation Pu ses Kitchen Living Family Bathroom Basement Bedroom Form PICINT6 - "WinTOTAL' appraisal software by a la mode, inc. -1-800-ALAMODE Interior Photos Bortower Mar aret Fick Pro Address 1677 Old Kiln Dr Ci Chambersbur Cou Franklin State PA Z Code 17202-9220 Lender raisal for Valuation Pu oses Bedroom Bathroom Bedroom Form PICINT6 -'WinTOTAL" appraisal software by a la mode, inc. -1.800-ALAMODE Comparable Photo Page Borrower Mar aret Fick Pro Address 1677 Old Kiln Dr Ci Chambersbur Cou Franklin State PA Zi Code 17202-9220 Lender raisal for Valuation Pur ses Comparable 96 Jameslee Drive Prox to Subject 1.10 miles N Sales Pdce 142,500 Grass Living Area 1,466 Total Rooms 7 Total Bedrooms 3 Total Bathrooms 2 Location ResidlAvg View Average Site 18,731 Sq Ft Duality Brick/Avg Age 29 Comparable 2 1980 Maylinn Drive Prox to Subject 1.06 miles N Sales Price 165,000 Gross Living Area 1,386 Tohel Rooms 7 Total Bedrooms 3 Total Bathrooms 2.5 Location Resid/Avg View Average Site 12,632 Sq Ft Quality Brick/Avg Age 26 Comparable 3 1960 Woodduck Drive West Prox. to Subject 0.59 miles SW Sales Price 149,900 Gross Living Area 1,746 Total Rooms 7 Total Bedrooms 3 Total Bathrooms 2 Location ResidlAvg View Average Site 12,197 Sq Ft Dualhy VinyllAvg Age t0 Forrn PICPIX.CR - •WinTOTAL' appraisal software by a la mode, inc. -1-800-ALAMODE Assumptions, Limiting Conditions & Scoae of Work CNent: A raisal for Valuation Pur ses Address: Appraiser: Nicole D. Stine AddreSS: 229 North Second Street. Chambersburc. PA 17201 -The appraiser will not be responsible for matters of a legal nature that affect either the property being appraised or the title to it. The appraiser assumes that the title is good and marketable and, therefore, will not render any opinions about the title. The property is appraised on the basis of it being under responsible ownership. -The appraiser may have provided a sketch in the appraisal report to show approximate dimensions of the improvements, and any such sketch is included only to assist the reader of the report in visualizing the property and understanding the appraiser's determination of its size. Unless otherwise indicated, a Land Survey was not performed. - If so indicated, the appraiser has examined the available flood maps that are provided by the Federal Emergency Management Agency (or other data sources) and has noted in the appraisal report whether the subject site is located in an identified Special Flood Hazard Area. Because the appraiser is not a surveyor, he or she makes no guarantees, express or implied, regarding this determination. - The appraiser will not give testimony or appear in court because he or she made an appraisal of the property in question, unless specific arrangements to do so have been made beforehand. - If the cost approach is included in this appraisal, the appraiser has estimated the value of the land in the cost approach at its highest and best use, and the improvements at their contributory value. These separate valuations of the land and improvements must not be used in conjunction with any other appraisal and are invalid if they are so used. Unless otherwise specifically indicated, the cost approach value is not an insurance value, and should not be used as such. -The appraiser has noted in the appraisal report any adverse conditions (including, but not limited to, needed repairs, depreciation, the presence of hazardous wastes, toxic substances, etc.) observed during the inspection of the subject property, or that he or she became aware of during the normal research involved in performing the appraisal. Unless otherwise stated in the appraisal report, the appraiser has no knowledge of any hidden or unapparent conditions of the property, or adverse environmental conditions (including, but not limited to, the presence of hazardous wastes, toxic substances, etc.) that would make the property more or less valuable, and has assumed that there are no such conditions and makes no guarantees or warranties, express or implied, regarding the condition of the property. The appraiser will not be responsible for any such conditions that do exist or for any engineering or testing that might be required to discover whether such conditions exist. Because the appraiser is not an expert in the field of environmental hazards, the appraisal report must not be considered as an environmental assessment of the property. - The appraiser obtained the information, estimates, and opinions that were expressed in the appraisal report from sources that he or she considers to be reliable and believes them to be true and correct. The appraiser does not assume responsibility for the accuracy of such items that were furnished by other parties. -The appraiser will not disclose the contents of the appraisal report except as provided for in the Uniform Standards of Professional Appraisal Practice, and any applicable federal, state or local laws. - If this appraisal is indicated as subject to satisfactory completion, repairs, or alterations, the appraiser has based his or her appraisal report and valuation conclusion on the assumption that completion of the improvements will be performed in a workmanlike manner. - An appraiser's client is the party (or parties) who engage an appraiser in a specific assignment. Any other party acquiring this report from the client does not become a party to the appraiser-client relationship. Any persons receiving this appraisal report because of disclosure requirements applicable to the appraiser's client do not become intended users of this report unless specifically identified by the client at the time of the assignment. -The appraiser's written consent and approval must be obtained before this appraisal report can be conveyed by anyone to the public, through advertising, public relations, news, sales, or by means of any other media, or by its inclusion in a private or public database. - An appraisal of real property is not a 'home inspection' and should not be construed as such. As part of the valuation process, the appraiser performs anon-invasive visual inventory that is not intended to reveal defects or detrimental conditions that are not readily apparent. The presence of such conditions or defects could adversely affect the appraiser's opinion of value. Clients with concerns about such potential negative factors are encouraged to engage the appropriate type of expert to investigate. The Scope of Work is the type and extent of research and analyses performed in an appraisal assignment that is required to produce credible assignment results, given the nature of the appraisal problem, the specific requirements of the intended user(s) and the intended use of the appraisal report. Reliance upon this report, regardless of how acquired, by any party or for any use, other than those specffied in this report by the Appraiser, is prohibited. The Opinion of Value that is the conclusion of this report is credible only within the context of the Scope of Work, Effective Date, the Date of Report, the Intended User(s), the Intended Use, the stated Assumptions and Limiting Conditions, any Hypothetical Conditions and/or Extraordinary Assumptions, and the Type of Value, as defined herein. The appraiser, appraisal firm, and related parties assume no obligation, liability, or accountability, and wlll not be responsible for any unauthorized use of this report or Its conclusions. Additional Comments (Scope of Work, Extraordinary Assumptions, Hypothetical Conditions, etc.): D E NTIA L Gopyright® 2001 by a la made, inc. This totm may be reproduced unmo6flad wRhaut wrdmn permn;sion, however, a la mode, inc. must be acknowledged and aedited. Form GPRES2AD -'WinTOTAL" appraisal software by a la mode, inc. -1-804ALAMODE 3/p(g7 Certifications IHpprarser: Nicole D. Stine Address: 229 North Second Street, Chambersburo. PA 17201 ~ I certify that, to the best of my knowledge and belief: -The statements of fact contained in this report are true and correct. - The credibility of this report, for the stated use by the stated user(s), of the reported analyses, opinions, and conclusions are limited only by the reported assumptions and limiting conditions, and are my personal, impartial, and unbiased professional analyses, opinions, and conclusions. - I have no present or prospective interest in the property that is the subject of this report and no personal interest with respect to the parties involved. - I have no bias with respect to the property that is the subject of this report or to the parties involved with this assignment. - My engagement in this assignment was not contingent upon developing or reporting predetermined results. - My compensation for completing this assignment is not contingent upon the development or reporting of a predetermined value or direction in value that favors the cause of the client, the amount of the value opinion, the attainment of a stipulated result, or the occurrence of a subsequent event directly related to the intended use of this appraisal. - My analyses, opinions, and conclusions were developed, and this report has been prepared, in conformity with the Uniform Standards of Professional Appraisal Practice that were in effect at the time this report was prepared. - I did not base, either partially or completely, my analysis and/or the opinion of value in the appraisal report on the race, color, religion, sex, handicap, familial status, or national origin of either the prospective owners or occupants of the subject property, or of the present owners or occupants of the properties in the vicinity of the subject property. - Unless otherwise indicated, I have made a personal inspection of the property that is the subject of this report. -Unless otherwise indicated, no one provided significant real property appraisal assistance to the person(s) signing this certification. Additional Certifications: DEFINITION OF MARKET VALUE *: Market value means the most probable price which a property should bring in a competitive and open market under all conditions requisite to a fair sale, the buyer and seller each acting prudently and knowledgeably, and assuming the price is not affected by undue stimulus. Implicit in this definition is the consummation of a sale as of a specified date and the passing of title from seller to buyer under conditions whereby: 1. Buyer and seller are typically motivated; 2. Both parties are well informed or well advised and acting in what they consider their own best interests; 3. A reasonable time is allowed for exposure in the open market; 4. Payment is made in terms of cash in U.S. dollars or in terms of financial arrangements comparable thereto; and 5. The price represents the normal consideration for the property sold unaffected by special or creative financing or sales concessions granted by anyone associated with the sale. * This definition is from regulations published by federal regulatory agencies pursuant to Title XI of the Financial Institutions Reform, Recovery, and Enforcement Act (FIRREA) of 1989 between July 5, 1990, and August 24, 1990, by the Federal Reserve System (FRS), National Credit Union Administration (NCUA), Federal Deposit Insurance Corporation (FDIC), the Office of Thrift Supervision (OTS), and the Office of Comptroller of the Currency (OCC). This definition is also referenced in regulations jointly published by the OCC, OTS, FRS, and FDIC on June 7, 1994, and in the Interagency Appraisal and Evaluation Guidelines, dated October 27, 1994. GlleraGOntact: KristinaTrostle C,. E-Mall: ktrostleCQgoodnewsconsuaing.com Address' APPRAISER „~~ // /r Appraiser Nicole D. Stine Company: Ausherman Bros Rea_I Estate Inc Phone: 717-264-6715 Fax: 717-264-4973 E-Mail: nicoles(a~pa.net Date Report Signed: Julv 26. 2011 License or Certification #: RL139677 State: PA Designation: Cert'fiied Residential Appraiser E~iration Date of License or Certification: 06/30/2013 Inspection of Subject: ®Intertor & Extedar ^ Exterior Ony ^ None SUPERVISORY APPRAISER (if requlre~ or CO-APPRAISER (if applicable) Supervisory or Co-Appraiser Name: Company: Phone: Fax: E-Mail: Date Repoli Signed: License or Certification #: Siate: Designation: Expiration Date ai License or Certification: Inspection of Subject: ^ Interior & Exterior ^ Exterior Onry ^ None Date of Inst>ectian: .,•, ., . ro ,~,~,w..~~. ,,,,. ,.,,,~ may uu ,ayiuwcea umaoomea wmaur women peim~sswn, however, a ta mode, inc. must be acknowledged and credited. Form GPRE52AD - "WinTOTAL" appraisal software by a la mode, inc. -1-800-ALAMODE 3/pgg7 Jan 11 1208:13p Microsoft /'I /Lb.S/'I'14 p.6t STA_'VDARD AGREEl-~ENT FOR THE SALE (3F REAL ESTATE This form receo~.maldod tmd approved for, bu nor>e~ricted to aaa by, the man6ers ot'ttx Peoasylva®a Asaoeiadon er REALTORS (PAR). ASR PARTIES BUYER(S):Bradly AWalls, Amanda K Walls SELLER(S): Good Neas Consulting , BUYER'S 1VIAII.1[YG ADDRESS: 1231 Courtney-- ____-- _-_ I _ SELLER'S MAiLiItiG ADDRESS: Ghambersbura Pa 172U# PROPERTY PROPERTY ADDRESS 1677 OLD KILN D CHAhIDERS13URG PA 'LIP 172 2 in the mutticipaliry of Hamilton Toxne-hin in the School District of Chn~~+-slyur Idetltiftcation (e.g„ Tax ID #; Parcel #; Lot, Block; ~ ,County of Franklin ) , is the Commonwealth of Pennsylvania. Deed Book, Page, Recording Date): 11-517-235 i BUYER'S ^ No Business Relationship {Bayer is not r LATIONSHiP WITH PA LICENSED BROKER presented by a broker) Broker (Company) Prudential Homtesal Sarvic®s Licensee(s) (Name)Perrv Louko~las Group Company Address 730 Noriaind Ave ch. rabur PA DirectPhonc(s) (717} 267-3222 1721)1 i CellPhane(s) x,717) 860-1286 CompanyPhonc 717 267-3222 ~ Fax {717)257-1177 Company Fax 717 267-1177 EmaiE parryl8mris.coaa Broker is. Licensee(s) is: ® Buyer Agent [Broker represents Buyer only) ~ ^ Buyer Agent with Designated Agency ^ Dual Agent (See Dual and/or Desigtlated Agent lox below) ~ Buyer Agent wiilwut Designated Agency II ^ Dual Agent (See Dttal and/or Designated Ageac box below) ^ Transaction Licensee [Bro and Licensec(s} provide real estate sea ices but do not represent Buyer} S)H:LLER'S ^ No Business Relationship (Selltrx is not ELATIONSHIP WITH PA LICENSED BROKER presented by a broker) Brol:er(ComP~Y) I?8/PQAX Realty Licensee(s) (Name)Lans Thrush Company Address 1132 xeenebec Or Chasil~ erabu PA Direct Phone{s) (717) 704-7070 17201 Ce1lPhone{s) (717 504-9500 Company Phone (717) 267-0011 ~ Fax {717) 267-3097 Company Fax (717) 267-3097 ~ Email lthruah~lanethruah.can Broker is: Licensee(s) is: ® Seller Agent (Broker represents Setter only) ~ ^ Selkx Agetlt with Desigltatcd Agency ^ Dual Agenn (Sec Dual and/or Dcsignatcd Agcnt x bclow} ^ Seller Agem without Designated Agency ^ Dual Agent (See Dual and/or Designated Agent box belo-v) ^ Transaction Liceslsce [Bm rand Licensee{sj provide real estate services but do nvt represcm Seller) D AL ANDIOR DESIGNATED AGENCY A $roker is a Dual Agent when a Broker re both Buyer and Seller in the same transaction_ A Licensee is a Dual Agent when a Licensee represents Buver and Seller in the carne transaction All of Broker's licensees are also Dual Agents UNLESS there are separate Designated Agents for Bwer and Seller. If the scone Licensee is desi tad for Buyer and Seller, the Licensee is a Dual Agent. By signing this Agreement, Buyer and Seller eac acknowledge having been prevlouaiy informed o£ sad consented to, deal agency, if applicable. Buyer Initial • l/ ! ~ ASR Page i of it Se[ler idfl~ls: / ~~ I Psnnt:ylvania ASSOdatiOn of REALTORS lieviHld 7:11 COPYRIGHT PHVIVSYLVANIA ASSOCIAT[OAi pti R~ALTORSaA 2011 liLO Prvdctiel - Chamber,bueg Norieod 730 i:afaod Aumuc Chavi,etsla:rg, PA 1 1 Ahox: 717.7.3375 Fax etyd acct Anvrda Ferry Loukopa~laa Produ what zpFormA tar z oLanh 19010 Fikean tYt a Read. Passer, Michigan 4826 ~ a'q~l pyisf~++ ' EXHIBIT Jan 11 12 08:13p Microsoft l1 /"Lti:i/114 p.5 t 1. Sy this Agreement, dated January 11, 2012 , 2 Seller hereby agrees to scU and convey 1;o Buyer, who agrees to perchase, the identified Properly. 3 2. PURCHASE PRICE AND DEPOSIT'S (I-l0} a (A) Purchase Price $ 152 , 000.00 5 (One Hundr®d E`i£ty-Twro Thout3and 6 .S. Dollars), to be paid by Buyer es follows: 7 1. Deposit at signing of this Agreement: $ 500.00 8 2. t7eposit within days of the Execution Date of this Agreement: $ 4 3. $ 1 D 4. Remaining balance will be paid at settlement 11 (B) All funds paid lry Buyer, including depasita, w~ be paid by check, cashier's check or wired foods. All funds paid by Buyer 12 within 30 DAYS of settlement, including Funds paid at settlement, wilt be by cashier's check or wired funds, but not by PeY" l3 sonalchecl~ 14 (C) Deposits, regardless of the farm of payment and the pcxson designated as payee, will be paid in U.S. L7otlars to Broker for Seller 15 (unless otherwise stated here: }~ 16 who will retain deposits in en escrow account in conform with all app :cable laws and regulations until consummation or ter- 17 urination of this Agrerxnent. Only real estate brokers are required to hold deposits in accordance with the rules and regulations of 18 the State Keel Estate Commission_ Checks tendered as deposit monies may be held tmcashed pending the execution of this i9 Agreement. 20 3. SELLER ASSIST (If Applicable) {1-10) 21 Seller will pay $ or 6.000 %of Purcha4c Price (0 if not specified) toward 22 Buyer's costs, as permitted by the mortgage lender, if arry_ Seller is only obligated to pay up to the amount or perc~tage which is 23 approved by mortgage lender. 24 4. SETTLED4ENT AND POSSESSION {1-10} 25 (A) Settlement Date is Februa 21 2012 , or before if Buyer and Seller agree. ~ (B} Settlement will occur in county w ere the Property is orate or in an lacxnt county, during Hormel business hours, unless 27 Buyer and Seller agree Otherwise. 28 (C) At time of settlement, the fiotlowing will be prfl-rated on a daily basis between l3uyer and Seller, reimbursing where applicable: 29 current taxes (see Notice Regarding Real Estate Taxes}; rents; interest on mortgage assumptions; condominitun fees and horne- 30 owner association fees; water and/or sewer fees together with any other lienable municipal service fees. All charges Sail) 6e pro- 31 rated for the period(s) covered. Seller will pay up to and including the date of settlement and Buyer will pay for all days folfow- 32 ing settleareot, unless otherwise stated here 33 34 (D) Conveyance from Seller will be b3' fee simple deed of apart warranty unless otherwise stated here: 35 36 (E} Payment of transfer taxes will be divided equally between Buyer and Seller unless otherwise stated here: 37 1~ buyer and 1~ s®ller 38 (F) Possession rs to be delivered by deed, existing keys and physrcal possession to a vacant Property free of debris, with all structut+es 39 broom-clean, at day and time of settlement, unless Seller, before signing this Agreement, has identified in writing that lire Property 40 is subject to a lease. 4r (G) If Seller has identified io writing that the Property is subject to a lease, possession is to be delirtred by deed, existing keys and 4.2 assignment of existing (eases for the Property, toBetlier with security deposits and inrerest, if any, at day and time of sehlement. Seller 43 will not enter into aay new leases, nor extend existing leases, for the Property without the written consent of Buyer. Buyer will 44 acknowledge existing lease(s) by initialing the leases} at the execution of this Agreement, unless otherwise stated in this Agreement 45 ^ Tena^t-Occupied Property Addeudu® (PAR Form TOP) is attached. 46 $. DATES/T7NIE IS OF THE ESSENCE (1-10) 47 (.4} V1+riuen acceptance of alI parties will be on or before: January 12 , 2 012 48 (B} The Settlement Date and all other dates and times identified for the performance of any obligations of this Agreement are of the a9 essence and are binding. Sll (C) The Execution Date of this Agreement is the date +rhen Buyer and Seller have indicated full acceptance of this Agrcement by sige- 51 ing and/or initialing it. For purposes of this Agreement, the number of days will be counted from the Execution pate, excluding 52 the day this Agreement was executed and including rho last day of the time period. All chaeges to this Agreement should be ini- 53 tided sad dated. 54 {D} The Settlement Date is reef extended by any other provision of this Agreement and may only be extended by mutual written agree- 55 went of We parties. 56 (E) Certain terms and time periods are pro-printed in this Agreement as a convenience to the Buyer and Seller. AlI 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. 59 6. ZONING (1-IO) ~ Failure of this Agreement to contain the zoning classific~tian (except in cases -vhere the property {and each parcel thereof, if. subdi- 61 vidable} is zoned solely or primarily to permit single-family dwellings) will render this Agreement voidable at Buyer's option, and, if 62 voided, any deposits tendered by the Buyer will be r~etumed to dre Buyer without any requirement Con court action. 63 Zoning Classification: Residential 64 Buyer tnitialx f~~ ~~ ASR Pa e 2 of 11 E Sellsr Initials Rcrised 7/1 i Prodwced wIU' zlpForn# by zgLoglx 18"70 Flaeen Mee Road, Fraax, Mirhl@att 48026 ymy~,~ Brad and Amanda Jan 11 12 08:14p Microsoft 71 7263 71 1 4 p,6 b5 66 b7 68 69 70 7L 7S 73 74 75 76 7? 78 79 80 81 82 83 84 as 86 87 88 s9 90 9L 92 43 94 95 96 97 98 99 1 lOl 102 103 ]04 los tpb 107 108 109 I It) 111 112 113 ]14 1 is 116 lt7 ]t8 ]l9 120 ]21 122 123 1?R 125 t26 127 128 129 130 131 7. FIXTURES AND PERSONAL PROPERTV (t-10) (A) INCLUDED in this sale are all existing items permanently installed in the Property, free of liens, and other items including plumbing; heating; radiator covers; lighting fixtures (including chandeliers and ceiling fans); pool and spa equipment (including covers and clea»ing cquipn~nt); electric animal fencing systems (excluding collars); garage door openers and transmitters; tele- vision antennas; unpotted shrubbery, plantings and trees; any remaining heating and cooking fuels stored on the Property at the time of settlement smoke det>ecmrs and carbon monoxide detectors; sump ptrmps; storage sheds; lcttces; mailboxes; wall to wall carpeting; existing window screens, storm windows and screen+storm doors; window wvrring hardware, shades and blinds: awnings; builtan air conditioners; built-in appliances; dtc tartgclovcn, unl o rwisc st cd; and, if Qca~ned~~.., water treatment s}•s- term,~propttrre tanks, satellite dishes and security systems. Also included: _ _~~ ~ ~~C9'~f" (B) The toltowmg items are LEAS (not own Selkx). systems, propane tanks, satellite dishes and security systems}: (C) EXCLUDED fixtures and items: more treatment 8. 1VIOR7' GIg Ori"f 1 13NCY (1-10) ^ R'AIVED. This sale is KOT contingent on mortgage financing, although Buyer may obtain mortgage financing and/or the par- ties may include an appraisal contingency. ® ELECTED. j nls salt rs eonttngent upon Buyer obtaining mortgage financing First 11Ior1gage on the Pro arty LamrAmount $ _ ~~~ ~ 1~l ~ _ t°f 1 Minimum Tcrrrt 30 years Type of tnot~age FHA Loan-To-Value (LT }ratio: For non-FHA/VA loans LTV ratio not to exceed 9+. l~lortgage Lender interest rate 3.750 %; however, Buyer agrees to accept the interest rate as may be comaitted lby the mortgage leader, not tc exceed a maximum interest rate of %. Discount points, loan origination, loan placcmrnt and ottrer fees charged by the lender as a percentage of the mortgage loan (exclud- ing sorry mortgage insurance premiums or VA funding Fee) nor w exceed °/. (0% if not specified) of the mortgage loaa- according to the following terms: test r ne mceresr rate(s) and tee(s) provisions in Paragraph 13{A} arc satisfied if the mortglt,dee lender(s) gives Buyer the right to guar- 00 antes the interest rate(s) and fat(s) at or below the maximum levels stated. If lender(s) gives Buyer the right to Lock in the inter- est rate(s), Buyer will do sa at least 1 S days before Settlement Date. Buy er gives Seller the right, at Belle's sole option and as permitted by law and the morrgage lender(s), to contribute financially, without promise of reimbursement, to the Buyer and/or the mortgage lender(s) to make the above mortgage term(s) available to Buyer. {C) Vi~ ithin da}~s (7 if not specified) from the Exeartion Date of this Agreement, Buyer will make a completed, written mort- gage application (including payment far and ordering of appraisal and credit reports without delay, at the time nxluircd by fenders}) for the mortgage terms and t4 the mortgage lender(s) identified in Paragraph 8(A}, if any. otherwise to a responsible mortgage fender(s) of Buyer's ehoica Broker for Buycx; if any, otherwise Broker I'or Seller, is authori~d tp communicate with the mortgage lender(s) to assist in the mortgage loan process. (D) Buyer will bC in default of this Aglrcement tf Buyer furnishes isles information to anyone concerning Buyer's financial and/or empbvment status, faille to cooperate in good faith with processing the mortgage loan application (iodadiag delay of the apprafsatj, faits to lock in interest rue(s) as stated in Paragraph 8(B), ar otherwise causes the leader to reject; refuse to approve or issue a mortgage loss commitment. (E) 1. Mortgage Commitment Date: February 17 , 2012 ,Upon receiving a mortgage commitmertt Buyer will promptly deliver a copy of the commitment to Sel cr. 2. If Seller does not receive a copy of the mortgage commitments} by the Mortgage Commitment gate, Seller may terminate this Agreement by written notice to Buyer. Seller's right to temminate continues until Buyer delivers a mortgage commitment to Seller. Until Seller terminates this Agreement, Buyer is obligated to make a good-faith effort to obtain mortgage financing, 3. Seller may terminate this Agreement by written relict to Buyer after the Mortgage Commitment Date if the mortgage commitment• a. Does not satisfiy the terms of Paragraph 8(A), Olt b. Contains any condition not specified in this Agreement (cg., the Buyer must settle on another property, an appraisal must be received by the lends , or the mortgage commitment 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 Mortgage Commitment Date in Faragraph 8{E){1), or nay extension thereof, other than those conditions that one customarily satisfied at or near settlement (o.g., obtaining insurance, confuzning empioymeot). 4. If this Agreement is terminated pursuant ro paragraphs 8(E~2) or (3), or the mortgage loan(s) is not obtained for settlement, ail deposit monies will be returned to Buyer aomrding to the terms of Paragraph 23 and this Agreement will be VOID. Buyer will be responsible for any costs incurred by Buyer for any inspections or certifieatiotrs obtained according to the terms of this Agreement, and any costs incurred by Buyer for: (1) Tile seare)~, lifts insurance and/or mechanics' lien insurance, or soy fce for cancellation; (2) Flood instuance, lire insurance, ha-~trd insurance, mine subsidence insurance, or any fee for cancel- lariorr~~ (3} APyP foes and charges paid in advance W mortgage lender(s). Buyer fnltfals: -~~'+-I_s~xi A5R Psgt 3 of Lt Setkr trtitial>ir~ Revised 7/tl ProcM~eed w th ilpFonn®by ZIpLoOrx ?9070 Fifteen iNileRa®d, Fra9er, Miohi~ 48026 ~ Brad and Amsndn Second Mortgage on the property LoanAmount ~ Minimum Term years T}pe of mortgage Loan-To-Value (LTV) ratio: Far non-FHA,NA loans LTV ratio not to exceed % Mortgage ]ender Interest rate •/.; however, Buyer agrees to aecept the intaerest rate as any be committed by the mortgage lender, not to exceed a maximum interest rate of °la Discount points, loan origination, burr placement and other foes rbarged by the lender as a percentage of the nwrtgage loan {exclud- ing any mortgage iosurance premiums or VA funding foe) nut to exceed % (t)% if not specified) of the mortgage loan. Jan 11 12 08:14p Microsoft 132 133 134 135 136 137 l38 139 140 141 lag 143 144 lay 146 147 148 144 Ira 15! 152 153 i54 155 {56 157 158 159 160 16l l62 163 164 163 166 167 l68 169 170 171 t~n 173 174 175 176 177 178 179 I80 181 182 183 184 185 1~ l87 188 l89 190 141 192 193 194 195 196 71 726371 1 4 p.7 (F} If the mortgage lender(s), or a property and casualty insurer prflviding insurance required by the mortgage letideKs), requires repairs to the Property, Buyer will. upon receiving the requirements, deliver a copy of the requirements to Seger. within 3 DAYS of receiving the copy of the requirements, Scllcr will notify Buycr ~ehcthcr Seller will make the required repairs at Seller's expense. t. If Seller makes the required repairs to the satisfaction of the mortgage lender and/or insurer, Buyer accepts the Property and agrees to the RELEASE in Paragraph 25 of this Agreement 2. If Seller wiii not make the required repairs, or if Seller fails oo respond within the stated time, Buyer will, within 5 DAYS, notify Seller of Buyer's choice to: a. Make the repairs,'improvements at Buyer's expense, with permission and access to the Property given. by Seller, which will not be unreasonably withheld, OR h. Terminate this Agreement by written notice to Seiler, vrith all deposit monies returned to Buyer according to the terms of Paragaph 23 of this Agramcnt. if Buyer fails to respond within the time stated in Paragrapb 8(1~x2) or fails to termeaate this Agreement by written notice m seller witain ttrat time, Bayer will accept the Property and agree to the RELEASE In Paragraph 2:5 of this Agreement FHA/VA, IF AAPLiCABLE (G) It is expressly agreed that notwithstanding any other provisions of this contract, Buycr will not be obligated to complete the pur- chase of the Propierty desrxibed herein or to incur any penalty by forfeiture of earnest money dgasits or otherwise unless Buyer has bees given, in accordance with HUDr~I-lli or VA requirements, a written statemerrt by the Federal Housing Commissioner, Veterans Administration, or a Direct Endorsement Lender selling forth the appraised value of the Property of not less than $ _ ~.~~ y C'~'~ ,`~ (the Purchase Price as stated in this Agreement). Buyer wi}l have the privilege and option of proceeamg wait consummatton a e contract without regard to the amount of rite appraised valuation. The appraised valuation is arrived at to determine the maximum mortgage the Department of Housing and Urban Development will insure. HUD does not warrant the value nor the condition of the Property. Buyer should satisfy himselflherself that the price and condition of the Property arc accxptablc. Warnlog: Section 1010 of Title IB, U.S_C., Department of Housing and Urban Development and Federal Housing Administration 'T'ransactions, provides, "VVhaever for the purpose of ...influencing in any way the action of such Department, makes, passes, utters or publishes any stanement, knowing tfie same to be false shall be fined under this title or imprisoned not move than tyro years, or both." (H) L1.S. Department of Hoasiag and I:rbaa Development (AUD) NOTICE TO PURCHASERS: Buyer's Acknowledgement ® Buyer has received the HUD Notice "For Your Protection: Get a Home Inspection:' Buycr wrderstands the importance of gating an indcprndent home inspection and has thought about this before signing this Agreement. Buyer understands that FHA will not perform a home inspection nor guarantee the price or condition of the Property. (i) Certification We the undersigned, Seller(s) and Buyer(s) party to dt~s transaction each certify that the terms of this contract for purchase arc true to tits best of our knowIcdgc and beiieti and that any other agreement entered into by any of these parties in connection t~ith this transaction is attached to this Agreement. 9. CHANGE ITT HG!'ER'S FIItAKCGiL STATUS (3-11) In the event of a change in Buyer's financial status affecting Buyer's ability to purchase, Buyer shall promptly notify Seller and lender(s) to wham the Buyer subntitYed mortgage application, if any. A change in financial status includes, but is not linuted to, loss or a change in employmart; failure or loss of sale of Buyer's homes Buyer's having incurred a new financial obligation; entry of a judgment against Suyer. Buyer understands that applying for and/or incnrrtng an additional financial obligation may affect Buyer's ability to Purchase. 10. SELLER REPRESENTATIONS (1-18) (.A) Radon Testing and Remediation (See Notice Regarding Radon) Seller has no knowledge about the presence or absence of radon unless checked below: Q 1. Seller has knowledge that the Properly was tested on the dates and by the methods (e.g. charcoal canister, alpha track, enc.), whidr produced the results indicated belmr_ Date Type of Test Results (picoCuriesr7iter or working levels) Nano of Testing Service ^ 2. Sella has knowledge that the Property had radon nemoc'al systems) installed as indicated below: Date installed Type of System pro~~. Copies of all available test reports will be delivered to Buyer with this Agreement. Seller does not warrant the meth- ods or fhe results otradoa tests. {B) Status of Wa~brx Seller represents that the Property is served by: ® Public Water ^ Community Water ^ On-site Water [] None ^ (C) Status of Sewer Seller represents that the Property is served by: ® Public Sewer ^ Community Sewage Disposal System ^ Ten-Acre Permit Exemption (see Sewage Notice 2) ^ individual On-lot Sewage Disposal System (roc Sewage Notice I) ^ Holding Tantc (see Sewage Notice 3) ^ Individual On-lot Sewage Disposal System in Proximity to Well (see Sewage Notice 1; see Sewage Notice 4, if applicable} © hone {see Sewage Notice I) ^ None AvailableaPertnit Limitations in Effect (see Sewage Notice 5) ^ ~ 197 Buyer Inltiats: ~rC. nsx Page a of l 1 Revised 7/l t Produced wih ibFormS dY ipLopix 18070 FHtean Mis Roa4 Fraser, Michig.n 48076 ~ zfol mix corn serf Brad and Amanda Jan 11 12 08:1 by Mfcrosott 198 (D) !I'sstosie Preservation /1 1-L63l1 14 ~,d t99 Seller is not aware of historic preservation restrictions regarding the Property unless otherwise stated here: 2oa 201 (E) ^ Property, or a portion of it, is preferentially assessed for tax purposes under the foliow-ing Act(s) (see Notices Regarding Land 202 Use Restrictions}; 203 ^ Farmlaind and Forest Land Assessment Act (Clean and Green Program; Act 319 of 1974; 72 P.S. § 5440.1 et seq.) 204 ^ Open Space Act (Act 442 of 1967; 32 P.S. ~ 5001 et seq.) 205 ^ Agricultural Area Security Law (Act 43 of 1981; 3 P.S. X5101 et seq.) 206 ^ t~tlter 207 (F) Seller represents that, as of the date Scilcr signed this Agrxmcnt, no public improvcxnctrt, condominium or homeowner assoeia- 208 Gen assessments hayc been made against the Property which ranaip unpaid, and that no notice by any government or public 209 authority has been served upon Seller or anyone on Seller's behalf, including notices relating to violations of inning, housing, 210 building, safely nr fire ordinances that remain uncorrected, and that .''seller knotivs of no condition that would constitute aviola- 2I 1 tier of any such ordinances chat remain uncorrected, unless otherwise spetzlied bane: 212 213 (G) Sclicr knoK•s of no oHrer potential notices (including violations) and~or assessments except as follows: 214 Z 15 (II) Accc;.ti~s to a public road may reyuirr issuance o a highway aecupancy permit from the Departrnenl of Transporiatron. 216 11. WAIYEIi OP CONTINGENCIES (9-0S} 2t7 If this Agreement is coniiingent oa Buyer's right to iaspett and/or repair the Property, or b verify invursbilit7, Enrironmental 218 wnditioos, boundaries, certifications, zsning classification or use, or any outer information regarding the Property, Buyer's 219 failure to exercise any of Buyer's options within the 6rsea set forth in this Agreement is a WAIVER of that Contingency oral 220 Buyer accepts the Property anti agrees to the RELEASE in Paragraph 25 of this Agreement. 221 12. INSPECTIONS (1-10) (see Notices Regarding Property and Enrvironmental Inspections} 222 (A) Rights and Responsibilities 223 I. Seller will provide access to insurers' representatives and, as may be roquired by this Agrccxrtcnt or by mortgage ldtda~(s), to 224 surveyors, municipal officials, appraisers and inspectors. All parties and their real estate licensee(s) may attend srry inspections. 225 2. Buyer may make a pre~etdenrent walk-through inspection of the Property. Buyer's right to this inspection is not waived by 226 any other provision ofthis Agreement. 227 3. Seller will have heating and all utilities (including fne!(s)) on for all inspectionslappraisals. 228 4. All inspectors, including home inspeclorsy are authorized by $uyer to provide a copy of any inspection Report to Broker for Buyer. 229 5. Seller has the right, upon request, to receive a free copy of any inspection Report from the party for whom it was prepared. 230 (B} Buyer waives or elects ~ Buyer's expense to have the following Inspections, certifications, and investigations (refcn~ed to as 231 "inspection' or "inspections"} performed by professions] contracwrs, home inspectors, engineers, architects and other properly 232 licensed or otherwise qualified professionals. Tf the same inspector is inspecting more than one system, the inspector must com- 233 ply with the Hame Inspection Law. (See Notice Regarding the Home inspection Law) 234 (C} For elected Tnspedion(s-}, Bayer will, within the Contingency Perlad(s) stoned in Paragraph 13(A), complete Inspections, obtain a~ 235 Inspection Reports or results (referred to as "Report" or "Repoi-tss"), and accept the Property, terminate this Agreement; or submit a 236 Written Corrective Proposal(s) to Seller, according to the teens of Paragraph 13{13). 237 ~ HotltelFroperty inspections and Environmental 13sasrds (mold, etc.) 238 f~~FlecteJ, buyer may oondua an inspection of the Property's swctural componentsy roofs exterior windows and exterior ,Waived 239 f~ ! ~~doors; exterior siding, Exterior Insulation ~d Fittish Systems, fa,4cia, goiters and downspouts; swimming pools, hot 1 240 tubs and spas; appliances; okctriCal systems; imerior and cannier plurrrbing; public sewer systems; heating and cool- 24I ing systems; water penetration; electromagnetic fields; wetlands and flood plain del'rrteation; structure square 242 footage; mold and other environmental ha~rds (e.g., fungi, indoor air quality, asbestos, underground storage tanks, 243 etc.): and any other items Buyer. may select. If Buyer elects to have a home inspection of the Property, as defined In 244 the Home Inspection Law, the home inspection must be performed by a full member in good standing of a national 245 home inspection association, or a person supervised by a full member of a national home inspection association, in 246 accordance with the ethical standards and code of conduct or practice of that association, or by a properly licensed 247 or registered engineer ar architect. (Sec Notice Regarding the Horr~ lnspocdon Law) 248 + WDOd IlnfestatlOn ~ 249 .~ Buyer may obtain a written "Wood-Destroying insect infestation Inspection Report" from an inspector certified as Waived. 250 .~'GJ 1 ,~ awood-destroying posts pesticide applicator and will deliver it and all supporting documents and drawings protid- 231 ed by the inspector ro Seller. The Report is to be made satisfactory to and in compliance with applicable laws, mort- 252 gage Lender requirements, and/or Federal insuring and Csuararrtecing Agency requirements. The inspection is to be 253 limited to al] readily-visible and accessible areas of all structures on the Property, except fences. If the Inspection 254 reveals active infestation(s), Buyer, at ouyer's Expense, may obtain a Proposal from awned-destroying pests pes- 255 ticide applicator roe treat the Property. If the [nspection re~'eals damage from active or previous infestation(s). Buyer 256 may obtain a written Report from a professional contractor, home inspector or structural engineer that is limited to 257 structural damage to the Property caused by wood-destroying organisms and a Proposal to repair the Property. 258 Water Service ?59 Elected Brryer may obtain an Ins action of the uali and usuli of the waters rem from a ~ P q Cy 9 ty ys properly liccnscd or otherwise ~aivc~, ;~ X60 ! qualified waterlrvell testing company. if and as required by the inspection company, Seller, at Seller's expense, will ~~-c t j~(,i/ ?61 locate and provide access to the on~site (ar individual) water system. Seller wilt restore the Property tv its previous 262 condition, at Seller's expense, prior to settlement r 4 263 Buyer Initials: ~~ ! ~ ASR Page S of 11 Seller initials ~~~~/~-~-'i Revived 7111 (,~ P4'od~oed vvini apFarr.KD by zlptagix 19070 Flacon k61e Rasq Fraser Michigan 49Q23 y~,zjpJBgj~~, $,gd g„d Amanda Jan 11 12 08:16p Microsoft 71 7263 71 1 4 p,g 264 265 266 261 268 269 270 z71 z72 273 274 275 27b 277 278 279 28D 281 282 283 284 285 286 287 288 289 290 291 292 293 294 295 296 297 298 299 300 30I 302 303 304 303 306 307 308 309 310 311 312 313 3l4 315 316 317 318 319 320 321 322 323 324 323 32b 327 328 329 33x7 33J Radon _, Elected Buyer may obtain a radon test of the Properly $om a certified inspector. The U.S. Environmental Protection Waived Agency (EPA) advises corrective action if the average annual exposure to radon is equal to or higher than O.t)2 ~!, wortcing levels or 4 pieoCutiesAiter (4pCi/L). On-lot Sewage (lf Applicable) r Elected Buyer may obtain an Inspection of the individual on-lot sewage disposal system from a qualified, professional Waivu}p,~ inspector. If and as required by the inspection camparty, Seller, at Seller's expense, w411 }ovate, provide access to, ~ / `~'~~ and empty the individual on-lot sewage disposal system. Seller will restore the Properly to its previous condition, at Seller's expense, prior to settlctr-ent. See prtrugraph 13(G) for mart information regarding the individual Cht-lot Sewage Inspection Cortingency_ Property Insurance ~ Elected Buyer may determine the insurability of the Property by making application for property and casualty insurance fur Waiv / the Property to a responsible insurer. Broker for Buyer, if arty, otherwise Broker for Seller, may communicate with( / the insurer to assist in the ittstuance process )f the Property is located in a flood plain, Buyer may be requited to carry flood insurance at Waver's expense, which may need to be ordered ]4 days or more prior to Settlement Date. Property Boundaries Elected Buyer may engage the services of a serve}rod title abstractc-r; or other qualified ~•ofessional to assess the legal siv ~ description, cer#ainty and Iocation of boundaries and/or quantum of land. Most Sellers have not hall the Property 1 surveyed as it is not a requirement of property transfer in Pennsylvania Any fences, hedges, walls and other natural or constructed barriers may or may not represent the true boundary lines of the Property. Any numerical represen- tations of size afproperty are appnaxrmations only and may be inaccurate. Deeds, Restrictions sad Zoning ~ Elected Buyer may investigate easements, decd and use restrictions (including any historic preservation restrictions or ordi- Vl~aiv ~ nances) that apply to the Property and review bcal caning otdinaoces. Buyer may verify that the present use of the ~{"~ / Property (such as in-law quarters, apartments, home office, day care) is permitted and may elect to make the Agreement contiagatt upon an anticipated use. Present use; Lead-Based Paint Hazards (For Properties prior to 1978 only) ~ Elected Before Buyer is obligated to purchase a residential dwelling built prior to 1978, Buyer has the apdon to conduct a ~~ aloe risk assessmern andJor inspection of the Ptellerty for the presence of lead-based paint andlw lead-based paint haz- ~'~+ /~l ands unless Bayer waives that right. ReYardkss of whether this inspection is elected or waived, the Residential Lead-Based Paint Hazard Redaction Act requires a Seller of property bath prior to 1978 to provide the Bayer with as EPA-approved lead hazards information pamphlet titled Protect Yoar Family from Lead in Your Home, along with a separate form, attached to this Agreement, discbsiag Sclkr's knowledge of lead- rased paint Hazards and any lead-based paint records regarding the Property. (See irotices Regarding Residential Lead-Based Paint Hazard Redaction Act) Other Elected ~ Waived The [nspectians c1e ovc o not apply to t e o 'ng existing con Irons as or items: 13. INSPECTION CONTI\I ENCY (-lp} (A) The Contingency Period is days (l0 if not specified) from the Fatecution Date of this Agreement for each Inspection elect- ed in Paragraph 12(C), except the following: Inspection(s) Contingency Period Home Instaeati.on 20 days Infest:san 20 days days days (B} Except as stated in Paragraph 13(C}, if the resuh of arty Inspection elected in Paragraph I2(C} rs unsatisfactory to Buyer, Buyer will, within rite stated Contingency Period; I. Accept the Property with the information stated in the Report(s) and agree to the RELEASE in Paragraph 25 of this Agreanent, OR 2. Terminate tHis Agreement by written notice to Seller; with all deposit monies returned to Buyer according to the teens of Paragraph 23 ofthis Agreement, OR 3. Present the Report(s) to Seller with a W rfttea Corrective Proposal (°Y'ropssal'~ tistiag corrections aadlor crodits desired by Buyer. The Proposal truly, but is not required to, include the name(s) of a properly licensed or qualified professional(s) to perform the cor- rections t+equested in the Proposal, provisions for payment, including retests, and a projected data far completion of the co~rec- tions. Buyer agrees that Seller will not be held liable for corrections that do not comply with mortgage lender or governmental requirements if performed in a workmanlike manner according m the terms of l3uver's Proposal. a. No later than days {5 if not specified) from the cad of the Contingency Period(s). Seller will inforttt Buyer in writ- ing that Seller will; (1 } Satisfy a] l the Leans of Buyer's Proposals}, OR (2) Not satisfy all the terms ofl3uyet's Proposal{s), b, If Seller agrees to satisfy the terms of Buyer's Proposal, Buyer accepts the Property and agrees to ttte RELEASE in Paragraph 25 ofthis Agreement. a Within days f2 if not specified) of the receipt of written notification that Seller will not satisfy all ]]s a uyer's Buyer Iaitisl~ r ASR Pxge 5 et 11 Seller JaftiAL~~~~~ Bruised 7111 ~! Produced with sipFC1177® t+Y zlptogix 76070 FNtaen MNe Road Fraser, Michigan 48026 ~r~y~j~pikmm Brad. ettd Amanda Jan 11 12 08:17p Microsoft 71 726371 1 4 p.10 332 I'ropasal, or the time stated in paragraph t3(B)t3)(a) if Seller fails Uu choose either option in writing, whichever occurs 333 fsrst,_ Rover will: 334 (1) .4ccept the Property with the inforneation stated in the Report{s'} and agree to the RELEASE in Paragraph 25 of this 335 Agreement, OR 336 {2) 7'etminate this Agreement by written notice to Seller, with all deposit monies returned to Royer according to the tcrttts 337 of Paragraph 23 of this Agreement, nR 33s (3} Enter into a mutusily acceptable written agreement with Seller, providing for any repairs ar improvements to the 339 Ptnperty andlor any crtxlil to A uyer at settlement, as aotxptable to the nwrlgage lerxler, if any. 340 tf Boyer fails to respond withia the time staged in Paragraph 13(BX3)(c) or fags to terminate tfiis Agreement by 341 wrftbcn nptice to 3elkr within that time, Buyer will accept We Property and agree M tfie RELEASE in Paragraph 342 25 of this Agreemetrt. 343 (C) Tfn Report reveals the need to expand or replace the existing individual an-lot sewage disposal system, Seller may, within 344 days (25 if not specified) of receiving the Report, submit a Proposal to Buyer. The Proposal will include, but not be limited to, the 343 name of the company to perform the expansion ar replacement; provisions for payment, including retests; and a projected cam- 346 pletian date for corrective meaw.ires. Within 5 DAYS of receiving SelIer's Proposal, or if no Propesal is provided within the 347 stated time. Buyer will notify Seller in writing of Buyer's choice to: 348 t. Agree to the terms of ttte Proposal, accept the Property and agt~ee to the RELEASE tin Paragraph 2S of this Agireentettt; OR 349 2. Terminate this Agreement by written notice to Seller, with all deposit monies returned to [3uyer according to the terms of 350 Paragraph 23 of th is Agreement OR 351 3. Accept the Property and the existing system and agree to the RELEASE in Paragraph 25 of this Agreement. If required by any 352 mortgage lender and/or any governmemal authority, f3uyer will correct the defects before settlement or within the time required 3.53 by lbe mortgage lender and/or goveaunental authority, at Buyer's sole expense, with permission and access to the Property given 354 by Seller, which may not be tmreasonably withheld. if Seller denies Buyer permission and/or access to correct the defects, Buyer 355 may, within 5 DAYS of Seller's denial. tenniitazc this Agreement by written notice to Scllcr, with all deposit monies returned 3S6 to Buyer according w the terms of Paragraph 23 of this Agreemem, 357 If Buyer fails to respond within the time stated in Paragraph 13(C) or sails to terminate this Agreememt by written notice 358 to Seller within that time, Buyer wA] accept the Property and agree to the RELF.AS>; in Paragraph 25 of this Agreement. 3S9 14. N077CES, ASSESSMENTS A>\b MUNICIPAL REQUIREMts'NTS (1-10) 360 (A} In the event any notices, including violations, and/or assessments are r+et:eived a8er Seller has signed this Agreement and before 361 settlement, Seller will within 5 DAYS of receiving the notices and/or assessments provide a copy of the notices and/or assess- 362 meets to Buyer and will notif~r Buyer in writing brat Seller will: 363 i. Polly comply with the notices andlor assessments, at Seller's expense, before settlement, if Seller fully complies with the 364 notices andior assessments, Buyer accepts the Property and agrees to the RL'LEASE in Paragraph 25 of this Agreement, OR 365 2. Not comply with the notices and/or a3sessmerrts. If Seller chooses not to comply with the notices and/or assessments, or fails 366 within the stated time to notify Buyer whether Setter will coatply, Bayer will notify Seller in writing within S DAYS 367 that Buyer will: 368 a. Comply with the notices and/or assessments at Buyer's expense, accept the Property, and agree to tfie RELE~-.SE in 369 Paragraph 25 of this Agreement; OR 37D b. Terminate this Agreement by written notice to Seller, with all deposit monies required to Buyer according to the terms of 371 Paragraph ?3 of this Agtaemerrk 372 If Boyer• fails to respond within the time stated in Paragraph 14(A)(2) or fails to terminate this Agreement by written notice 373 Go Setter ti-itbin that time, Boyer will accept the Property aad agree to the R£d.E.ASE in Paragraph 25 of this Agreement 374 (B) If required bl law, within 30 DAYS from the Execution Daze of this Agreement, but in no case later than 15 DAYS prior 375 to Settlement Date, Seller vrill order at Seller's expense a certification from the appropriate municipal departments} disclosing notice 376 of any uncorroetcd violations of zoning, housing building, safety or fire ordinances and/or a eertifrcate permitting oegtpancy of the 377 Property, If Buyer receives a notice of any required repairs/urgrrocements, Buyer will pr,orrtptly deliver a copy of the notice td Seller. 378 I. Within 5 PAYS of receiving notice from the municipality that repairs/improvements are required, Seller Brill deliver a 3'~ copy ofthe notice to Buyer and no[ii~ Buyer in writing tt-at Setter will: 3~ a, Make the required rcpairsrmprovemutts to the satisfaction of the municipality_ If Seller makes the required 38t repairsiimprovtxncntc, Buyer accepts fire Property and agrees to the RELEASE in Paragraph 24 of this Agreement, OR 3s2 b. Not make the required repairslinrprovemems. tf Seller chooses not to make the required repairsrmprovetrtents, Buyer will 383 notify Seller in writing within 5 DAYS that Buyer will: 384 (1) vlakie the repairsl-mprovtments at Buyer's expense, with permission and access to the Property given by Seller, which 3~ will not be unreasonably withheld, OR 386 (2) Terminate this Agreement by written notice to Seller, with all deposit monies returned to Buyer according to the terms 3E7 of Paragraph 23 ofthisAgreemeat 388 If Suyer fails is respond within the time stated is Paragraph 14(B}(1{xb) or faits to terminate this Agreement by 389 written notice to Seller within that time, Bayer xdA accept the Property sad agree to the RELEASE in Paragraph 390 25 of this Agreement, and Buyer accepts the responsibility to perform the repairslimprovements according to the 391 terms of the notice provided try the municipalRy. 392 2. IF Seller denies Buyer permission W make the required repairs~mprtnemeni.s, or dons not provide Buyer access before 393 Settlement DAte to make the required repairslimprovements, $uyer may, within 5 DAYS, terminate this Agreement by 3`~ written notice: to Scllar, with rill deposit momit,•x returned to Buyer according to the terms of aragraph ?3 ofthis Agrecmrnt. 395 3. II repairslirnprovements are required and Seller fails to provide a Dopy of the notice to Buyer as requited in this Paragraph, Seller 3`~ will pertbrm~anl] repairsrmprovements as required by the notice at Seller's expense. Paragraph i4(B)(3) will survive settlement 397 Bayer tnitlals:R>>~~ ~ ASR Page 7 of t 1 Seller Initial ~~ Revised 7lit Pro~~oed w.tA apFonr® by znl.oQx '8070 FiReen Mife Roac, Fraser, Iyiehigsr 48026 ~ Bred grid t1t71aade Jan 11 12 08:17p Microsoft /1 /2Ej3 /114 p.11 398 15. CONDOMINIUMtPLANNED GOMMUIYITY (HOLVSEOWNER ASSOCIATIONS) RESALE NOTICE {1-10) 399 Property is N(YI' a Condominiumn or part of a Planned Community unless checker) below. 400 ^ CONDOMINIUM. The Property is a unit of a condominium that is primarily run by a unit owners' association. Section 307 of the 401 Uniform Condominium Act of Pennsylvania {see Notice Regarding Condominiums and Planned Communities) requires Seller to 402 famish Buyer with a Certiftcate of Resale and copies of the condominium declaration (other than p1aRS And plans}, the bylaws and 403 the rules and regulations of the association. 404 ^ PLANNED COMMUNITY (!-IOMGONNPR ASSOCIATIOl~~. TY-c Propcriy is part of a planned community as defined by the X105 Uniform Planned Community Act (see Notice Regarding Condominiums and PlarrKxl Communities). Sectiun 5407(a} of the Act 406 requires Seller to furnish Buyer with a Dopy of the Declaration (other than plats and plans), the bylaws, the rules and r+agulotians 407 of the association, and a Certificate contrlining the provisions sal. fintlt in section 541YT(a) oftheAct. aott THE FOLLOWING APPLIES TO PROPERTIES THAT ARE PART OF A CONDOMINIUM OR A PLANNED COMMUNITY. 409 (A) Within 15 DAYS from the Execution Date of this Agt'ecmcnt Sclic , at Seller's cxpcnsa will request from the association a 410 Certificate of Resale ar-d any ot[rer documents necessary to enable Self to comply with the relevant Act The Act provides that 411 the association is required to provide these documents within 10 days of Seller's request. 4t2 (B) Seller will ptnmptly deliver to Buyer all documents received from the association. Under the Act, Seller is not liable to Buyer for 413 the failure of the association to provide the CCrti6caLc in a timely mariner or for any incorrect information pmvidcd by the asses 4 t4 elation in the Certificate. 415 {C) The Act provides diet Buyer may declare this Aglrcmpu VOID at arty time before Buyer rcecivcs the association documents and 41b for 5 days aRer receipt, OR uatil settlement, whichever occurs first. Buyer's notice to Seller must be is writing; upon Buyer 417 declazing this Agt+oement void, all deposit moaties will be returned to Buyer according to the terms of Paragraph 23 of this 418 Agreement, 419 (D} if the association has the right to buy the Property (right of first refusal), and the association exercises that right Seller will reim- 420 bursa Buyer for any costs incurred by Buyer for any inspections or certifications obtained according to the terms of the Agreement, 421 and any costs incurred by Buyer far. (1) Title search, title insurance and/or mechanirs' lien insurance, or any fee for cancelladon; 422 (2) Flood insurance. fire insurance, hazard insurance, mine subsidence insurance, or any See for cancellation; (3) Appraisal fees 423 and charges paid in advance to mortgage lender. 424 16. TITLES, SURVEYS ANA COST'S (1-l~ 425 (A) The Property will be conveyed with good and marlcetdble title that is insarablc by a roputable title insurance company at the reg- 4z6 ular rates, free and clear of all liens, encumbrances, and easements, ezcepting however the following: existing deed restrictions; 427 historic preservation restrictions or ordinances; building restrictions; ordinances; easements of roads; easentems visible upon the 428 ground; easenaonts of record; and privileges or rights of public service companies, if any. 429 (B) Buyer will pay for the following: {1} Title search, title insurance and/or mechanics' lien insurance, or any fee far cancellation; 430 {2) Flood insurance, fire insunmce, hazard insurancq mine subsidence insurance, or any fee for cattceltation; {3) Appraisal fees 431 and charges paid in advance to mortgage lender; (4) Buyer's customary settlement costs and accruals. 432 (C) Any Survey or surveys required by the title insurance company or the abstracting company for preparing an adequate legal 433 description of the Property (or the correction thereat) will be obtained and paid for by Seller, Any survey or surveys desired by 434 Buyer or required by the mortgage lender will be obtained and paid for by Buyer, 435 {D) !f Seller is unable to give good and mazketable title that is insurable by a reputable title insurance company at the regular rates, as 436 specified in Paragraph ]t5(A), Buyer may terminate dlis Agreemeatt by written notice to Seller, with all deposit monies returned to 43'~ Buyer according to the terms of Paragraph 23 of this Agroement_ Upon termination, Seller will reimburse Huyer for any costs 438 incurred by Buyer for any inspections or oertifcations obtained according to the terms of this Agreement, end for those items sperm 439 ified in Paragraph 16{B}items (t}, (2), (3) and in Paragraph IG(C). 440 (E) Seller is not aa-are of the status of oil, gas and mineral rights for Property unless otherwise stated below: 441 ^ Seller does not own all subsurface ri is W the 442 d` 1><opem•. ^ Oil, Gas and Mineral Rlghts Addendum (P'4R Form OCI~T) is attached. 443 (F} COAL NOTICE {Where Applicable) 444 THIS llC7CUh1ENT VtAY NC71' SFtL, CONVEY, TRANSFER, INCLUDE OR INSURE THE TIiIE Td TE3E COAL AND RiGr-17'5 OF SUPPORT [JNDERNEA'['f1 445 TFIE SURFACE LAND DESCRIB@ OR 12EFERRED TO HEREIN, AND THE OWNER OR OWNERS OF SUCcI COAL MAY HAVE THE COMPLETE LEGAL 446 RIGHT' TO REMOVE ALL SUCH COAL AA'D CV THAT COIVN6CTLON, DAMAGE VIAY RESULT TO THE SURFACE OF THE I,AN~D AND ANY HOUSE. 447 HUII.DING OR OTt~R STRUCTURE ON OR 1K SUCH t.AND. (This notice is set forth in the manner provided in Sectlon ] of the Act of 448 Juiy 17, 1957, P.L. 984.} "Buyer acknowledges that he may not be obtaining the right of protlecdon against subsidence resulting 449 from coal mining operations, and that the property described herein may be protected from damage due to mine subsidence by e 450 private contract with the owners of the economic interests in the coal. This acknowledgerrlcnt is made far the purpose of com- 431 plying with the pra~hsions of Section 14 of the Bituminous Mine Subsidence and the Land Conservation Act of April 27, i9GG." 452 Buyer agrees to sign the deed from Seller which deed will contain the aforesaid provision. 453 (G) The Property is not a "r+ecreational cabin" as defined in the Petmsylvania Construction Code Act unless otherwise stated here (see 454 Notice Regarding Recreational Cabins): 435 (H) This property is not subject to a Prvvate Transfer Fee Obligation unless odterwise stated here {see Notice Regarding Private Transfer 456 Fees): 457 ^ Private Transfer Fee A den um (PA Form PTE') rs attached. 45H !7. MAINTENAiYCf; AND RISK OF LOSS (i-i®} ~~ (A) Seller will maintain the Property, grotmds, fixtures and personal property specifically listed in this Agreement in its present con- dition, normal wear and tear excepted. 46t (B) !f any system or appliance included in the sale ofProperty fails before settlement, Seller will: 462 1. Repair or replace the failed system or appliance before settlement OR 463 2. Provide prompt written notice to Buyer of Seller's decision to: 464 a. Credit Buyer at settlement for the fair market value; of the failed sy.,-rem or appliance, ae aaceptaUlc to the mo lender. 465 466 Bayer laitiats: ~~ ASR Page 8 of l l Seller Initials: 1 Revised 7/lI Practiced with apFonr® by Eiol.o~x '8070 FNteen Mile Roar, Fraser, Michiyer 48026 www.ziuLmu.eom Glad end Amanda Jan 11 11t)t3:1t3p Microsoft 71 726371 1 4 p.12 467 b. Not repair or replace the failed svstcm or appliance, and not credit Buyer at settlement for the fair market value of the 468 failed system or appliance. 464 3. If Seller does not repair or replace the failed system or appliance or agree to credit Buyer far its fair market value, or if Seller 410 Fails to notify Buyer of Seller's choice, Buyer will notify Seller in writing within S DAYS or before Settlement Date, 471 whichever is earlier, drat Huger will; 472 a Accept the Property and apJee to the RELEASE in Paragraph 25 of this Agreement, OR 473 b_ Terminate this Agreernem by written notice to Seller, with all deposit monies returned to Buyer according m the terms of 47+ Paragraph 23 of tfiis Agreement 475 If Buyer fails to respond within the time stated io Paragraph 17(8x3) or fails ~ termiuabe this Agreement by written 476 notice to Seller within that time, Buyer will accept the Property acrd agree to the RELEASE in Paragraph 25 of this 477 Agreement 478 (C) Seller bears the risk of loss foram fire or other casualties until settlemenk )f any property included in this sale is desaroyed and not 479 replaced prior to settlement, Buy~x will: 48D l . Accept the Property in its then current condition togedter with the proceeds of any insurance t~ecavery obtainable by Seller, OR 48t 2. laminate tt2is Agreement by carmen notice to Scllcr, with all deposit monies returned to 13uycr according io the terms of 482 Paragraph 23 of this Agreement. 483 l8. HOME WARRANTIES (1-I8) 484 At nr before settlement, either party may purchase a home warranty for the Property from athird-party vendrrr. Buyer and Seller ander- 485 stand that a home warranty for the Properly does not albcr any disclosure requirements of Seller, will not cover or vvartaM 8rty pre- 486 existing defects of the Property, and will not alter, waive or extend any provisions of this Agreement regarding inspections ar certifi- 487 cations that Buyer has elected eK waived as part of this Agreement Buyer and Scllcr understand that a broker who reaommcnds a home 488 warranty may have a business relationship Fvith the home warranty company that provides a financial benefit to the broker. 489 19. RECORDING (9-115) 49o This Agreement will not be recorded in the Oldice of the Recorder of Deeds or in any other office or place of public record. If Buyer 491 causes or permits this Agrament to be recorded, Scllcr may elect to treat such act as a default ofthis Agreemenk 492 211. aSSIGNMENT(1-10) 493 This Agrrxmcnt is binding upon the parties, their heirs, personal rGpnesentatires, guardians and suwessors, and to the extent assigna- d94 ble, on the assigns of the parties hereto. Buyer wilt not transfer or assign this Agreement without the written consent of Scllcr unless 495 otherwise stated in this Agroemexrt. Assignment of this Agreement may result in additional transfer taxes. 49b Z'1. COVERNIPiG LAW, VENUE AND PERSONAL JURISDICTION (9-d5) 497 (A} The validity and construction of this Agreement, and the rights and duties of the parties, will be governed in accordance with the 498 laws of the Commonwealth of Pennsylvania. 499 (B) The parties agree that any dispute, controversy or claim arising under or in connection with this Agreement or its performance try Soo either party submitted to a watt shall be fi]ed exelrsively 67' and in the state or federal courts sitting in the Commonwealth of 901 Pwnsylvania. 502 22. REPRESENTATIONS (l-lU) 503 (A) All representations, claims, advertising, promotional activities, brochures ar plans of arty kind made by Seller, Brokers, their 504 licensees, employees, officers ar partners are not a part of this Agreement unless expressly incorporated or Stated in this 505 Agreement. This Agreement wntains the whole agreement between Seller and Buyer, and there are no other berms, obligations, 506 covenants, representations, statements or conditions, ore] or otherwise, of arty kind whatsoever concerning this sale. This 507 Agrcement will not be altered, amended, changed or modified except in writing executed by the patios. 508 (8) Unlega otherwise stated in this Agreement. Buyer has inspected the Property (including tixturea anti arty personal prop- 509 arty specifically listed herein) before signing this Agreement sr has waived rite right to do so, and agrees to porehase fire 5tD Property I1V ITS PRESENT CONDTCIONt subject to inspection contingencies elected in this Agreement. Buyer acknowt- 511 edges that Brokers, their licensees, employees, officers or partners have not made an independent examination or detew 512 minatlo>t of the structnrai somdness of the Property, the age ar eondition of the camponeuta, environmental cur~itiaua, 313 the permitted uses, nor of conditions existing in the locale wbere the Property is situated; nor have they made a mechan- 5r4 teal inspection of env of ttie systems vootained therein, Sly (C) Any repairs required by this Agreement call[ be completed in a workmanlike manner. 516 (D) Broker(sl have provided or may prov[de services to assist unrepresented parties in complying with this Agreement. ill 23. DEFAULT, T'ERIkfINAT1iONRND RETURN OF DEPOSITS (1-10) 518 (A} Where Buyer terminates this Agreement pursuant to a~ right granted by this Agreenta'-t, Buyer will be entitled to a rrxurn of Sl9 al[ deposit monies paid on account of Purchase Price pursuant to the terms of Paragraph 23(B), and this Agreement will be 52D VOID, Termination of this Agreement may occur for other reasons giving rise to claims by Buyer andlor Seller for die deposit 521 monies. 522 (B} Regardless of the apparent entiHement to deposit monies, Pennsylvania law does >mt allow a Broker holding deposit mottles to 523 determine who is entitled to the deposit monies when settlement does not occur. Broker can only release the deposit monies: 524 1. If this Agreement is terminated priar to sett[emenr and there is no dispute aver entitlement by the deposit monies. A written 525 agreement signed by both parties is evidence that there is no dispute regarding deposit monies, 526 2. lt; after Broker has received deposit monies, iiroker receives a written agreement that is signed by Buyer and Seller, direct- 527 ing Broker how to distribute some or al l of the deposit monies. 52R 3. According to the terms of a final order of court. 329 4. According to the terms of a prior written agreement between Buyer and Seller that directs the Broker how to distribute the 53D deposit monies if there is u dispute betvreen the parties that is not resolved. (See Paragraph 23(C)) 53! Buyer tpttiats: j- ~~ 1 ASR t'a~t 9 of 11 Seller tuitiaisj7 i ]teviaed.Tll1 Protlutedwitlt zipFCrt'n® b!'riprogix 78070 Filt[en Mlle rtoed Fraser, Michigan 46028 wwwabLacnc mc7 B[ed end Alnandd Jan 11 12 08:19p Microsoft 71 726371 1 4 p.13 532 (C} Buyer and Seller agree that if there is a dispute over the entitlement to deposit monies that is unresolved 365 days atler ss3 the Settlement i)abe stated in Paragraph 4(A}, or arty written extensions thereof; the Broker haiding the de~pasit tnotlies will, >,t'iin• 534 in 30 days of receipt of Buyer's written request, distn'bute the deposit monies to Buyer unless the Broker [s in receipt of verifi- 533 able written notice #hat the dispute is the subject of litigation. If Broker has received ~etifiable writtrn notice of litigation prior 536 to the receipt of Buyer's request for distribution, Broker wilt continue to hold the deposit tnonics until receipt of a written distri- 537 bution agreement behveen Buyer and Seller or a final court order. Buyer and Seller aze advised to initiate litigation for any por- 538 tion of the deposit monies prior to any distribution made by Broker pursuant to this paragraph. Buyer and Seller agree that the 539 distribution of deposit monies based upon the passage of time does noC Legally determine entitlement to deposit monies, and that 540 the parties maintain their legal rights to pursue litigation tvcar after a distribution is trade. S4i (L7) Buyer and Scllcr agree drat Broker tt'ho holds or distributes deposit monies pursuant to the terms of Ptaragraph 23 or Pennsyh~ania 542 law will not be Noble. Buyer and Seller agree that if stay Broker or affiliated licr:ttsee is named in litigation regarding deposit 543 monies, the attorneys' fees and costs of the Broker(s) and liccnsce(s} v}ill be paid by the party naming them in litigation. 544 (E) Seller has the option afretainiag all sums paid by Buyer, including the deposit monies, should Buyer: 545 1. Fail to make any additional payments as specified in Paragraph 2; OR 546 2. Famish false or incomplete informatiott to Seller, Broker(s), or any other party idcntifi~l in this Agreement coraceming 547 Buyer's legal or financial status, OR 548 3. Violate or fail to fulftlt and perform any other terms or conditions ofthis Agreement. 549 (F) Unless otherwise checked in Paragraph 23(G], Seller may elect to retain those Burns paid by Buyer, including deposit monies: 550 1. On account of purchase price, OR 551 2. 4s maaies to be applied to Seller's damages, OR 552 3. As liquidated damages for such default. 553 {G) ® SELLER iS LIMITED T'O RETAINING SUMS PAID BY BUYER, INCLIlDUYG DEPOSC7' d101YlES, A5 LIQUIDATED 534 DAMAGES. 555 (EI) If Seller retains all sums paid by Buyer, including deposit monies, as liquidated damages pursuant to Paragraph 23(F) or (G), 556 Buyer and Seller are released from farther liability or obligation and this Agreement is Vp1D.~ 557 (L) Brokers and licensees are not responsible for unpaid deposits. 558 24. MEDIATIpl\ (1-1Q) ss9 Buyer and Seller Kill submit alt disputes or claims that arise from this Agreement, including disputes and claims avex deposit monies. 560 to mediation. Mediation will be conducted in accordance with the Rules and Procedut+es of the Home SellerslHome Buryers Dispute 561 Resolution System, unless it is not available, in which case Buyer and Seller will mediate accord'mg to the terms of the mediation sys- 562 tern offered or endorsed by tree local Association of ItEALTORS'l~. Mediation fees, contained in the mediator's fee schedule, wiEl be 563 divided equally among the parties and will be paid before the mediation ooraference. ThEs mediation process must he conducted before 564 any party to the dispute may initiate legal proceedings iu any courtroom, with the exception of filing a summons if it is necessary to 563 stop any statute of limitations from expiring. Any agreement reached through mediation and signed by the parties well be binding (see ~+ Notice Regarding Mediation). Any agreement to mediate disputes or ciaiats arising from this Agreement will survive settlement. 567 25. RELEASE (9~5) 568 sayer rdesaea, quit claims and forever discharges SELLER, ALL BROKERS, their LICENSEES, EMPLOYEES and say 369 OFFICER or PARTNER of any oat of them and any other PERSON, FIRM or CORPORATIQN who may bt liable by or 57o through them, fFom any and alt c~hns, krises or demands, including, )rut not limited to, per'sansl injury and property dam- 571 age and all of the consequences thereof, whether known ar not, which may arise from the presence of termites or other wood- 572 boring insects, radon, lead-based paint hazards, mold, fungi or indoor air quality, environmental hazards, say defects in the 573 individual oa-lot sewage disposal system ar deticieneees it the on~site water service system, or any defects or conditiaas on tine 574 Property. Should Seller be fn default under fire terms of this Agreement or in violation of auy Seller disclosure law or regulr- 575 tion, this release does rat deprive Buyer of any right to pursue any remedits that may be available under law or equity. This S76 release will survive settlement. 5TT 26. REAL ESTATE RECOVERY FUND (9-05) 578 A Real Estate Recovery Fund exists m reimburse any persons who havt obtained a final civil judgtnettt against a Pennsylvania real 579 estate licensee (or a licensee's affiliates) owing to fraud, misrt:presetrtation, or deceit in a real estate transaction and who have been 5811 unable to colhxt the judgment a@er eochaustirrg alI legal and cgoitable rranedics. For crnrrplete derails about the Fund, till {71'1) 783- 582 8 or 00 822-2113 (within Pennsylvania and (7l T) 783-4854 (outside Pennsylvania}. 582 27. COMMUNI A~TT6[Y"'~r~I'I'H'~ll I;R AND 'Ei, - ----,. 583 Wherever this :4greement contains a provision that requires or allows communication/delivery to a Buyer, that provision sbaill be satis- 584 feed by communicationfdelivety to the Broker for Buyer, [f any, eiccept for documents required to be delivered pursuant to 585 Paragraph 15. If there is no Broker for Buyer, those provisions may be satisfied only by comtnunication/deLivery being made direct- 586 ty to the Buyer, unless otherK7se agreed to by the parties. Wherever this Agreement contains a provision that requires or allows com- 587 municai9on/delivery to a Seller, iltat provision shall be satisfied by communication/delivery to the Broker for Seller if any. If there is 588 no Broker for Seller, those provisions may be satisfied only by communication/delivery being made directly fo the Seller, unless other- 589 wise agreed to by the patties. 590 28. SPECWL CLAUSES (1-ld] 591 (A) The following art part of this Agreement if checked: 592 ^ Sale & Settlement of Other Property Contingency Addendum (PAR Fottn SSP} 593 ^ Sate & Settlement of Other Property Contingency with Right to Continue Marketing Addendum (PAR Form SSA-CM) 594 ^ Settlement of Other Property Contingency Addendum (PAR Norm SOPI 595 ^ Short Sale Addendum to Agreement of Sale (PAR Form SHS) 59G ^ Apprui~wl (".ontingency Addendum (PAR Form ACr1} 597 ^ 348 ~ 599 ^ _ ~ -"'3T~~4 b00 RMyer Initials: d/.S4lj ~ ASR Pa a 10 of 11 $ Seller luitialar Revised 7111 PraJUOed w.tn ripFom~by zi~Lo¢x Lama FHteen Mae Roar, Fraser, Mithipar x8026 ggpm i3rad and Amanda Jan111208:20p Microsoft /1/Lti;S/1"14 p,•i4 GO! (B} Addi#ionai Terms: 502 603 604 ~ oontingency "Subject to Court Ordex", 60S 606 607 606 609 610 611 612 613 614 615 616 617 618 Buyer and Seller acknowledge receipt of a Dopy of tYis Agreement at the time of signing bl9 This Agreement miry be executed in one or more counterparts, each of which shall be deemed to be as original and which cogn- 620 terparta together shall constitute one and the same Agreement of the Parties. 621 NOTICE TO PARTIES: WHEN SIGNED. THIS AGREEMENT IS A BINDIrG CON'T'RACT. Parties to this transaction are 622 advised ib consult a Fennsylvania real estate attorney before signing ifthey desire legal advice. 623 Return of this Agreement, and a~ addenda and amendments, itsclading return by electronic transmission, bearing the sipatures 624 of all parties, csM.stitutes acceptance by the parties. 625 ~ 1 Buyer has received the Consumer Notice as adopted by the State Real Estate Commission at 49 Pa. Code 626 §35.335. 6273c.~ / ~ Buyer has received a statement of Bayer's estimated closing costs before signing this Agreement. 628 / ~ /~ Buyer hss read and understands the notiees and explanatory information in this Agreement. 629 ~ /~ Buyer bas received a Selkr's Property Aisdasgre Statement beforve signing this Agreement, if required by law 630 (see Information Regarding the Real Estate Seller Diselos~me Law). 631 '~~ !~ Buyer has received the Deposit Money Nai3ce (for cooperative sales when Broker for Seller is holding deposit 632 C money) before signing this Agreement. 633 ~/~ Buyer hss received the Lead-Based Paint Hazards Disclosure, which is attached to this Agreement of Sale, and 634 !! the pamphbt Protect Your Ramily from Lead in Your Home (for properties bulk prior to 1978) 635 BUYER 636 BUYER 637 BUVER DATE January 11, 2012 DATA ~-ll-Anl~ DATE 638 Seller has received the Consumer Notice as adopted by the State Real Estate Comrniasion at 44 Pa. Code § 35.33b. 639 Seller has received a statement of Seller's estimated dosing costs before signing thu Agreement. 640 Seller has d and uad feeds the n'o}~es a d xplanat y ' fo anon ' tbia Agreement. 641 SELLS ~ C~ ¢, ,7~e_~i .~i ~dL;~~~ fl~/ /Y~e" ~ E~.L' - ! t/L DATE ! ~ ?r / 'Z Good Neal Conaui 642 SELLER 643 SELLER DATE DATE ASR Page 11 of 11 Revised 7111 Proiuceo with ZipFora~ by ziPLogx 18tA0 FRtxn Mle Roac, Fraser MSehiyen 4!3026 y~dr ~+oLmk ~ grad and Amends Jan 1 1 12 U8:Z1 p Microsoft /1 /"lti3/114 p,15 NOTICE REGARDING CONVICTED SEX OFFEKDERS (i<ZEGAN'S LAVi~ The Pennsylvania General Assembly has pati'Sed legislation {often referred to as "Megan's Law," 42 PaC.S. ~ 4?91 et seq.} providins for community not cation of the presence of certain convicted sex offenders. Buyers are eacortraged to contact the municipal police department or the Pennsylvania State Police for information relating to the presence of sex offenders near a particular property, or to check the information on lire Pennsylvania Shale Police Web site at www.pamegattslaw.state.pa.as. FOREIGN 1NVESTM)ENT IN REAL PROPERTX T ~Y ACT Off' I980 (FIRPTA) 'The disposition of a U_S. real property interest by a foreign person {rhe transferor) is subject to the Foreign Investment in Rcal Plnpetty Tex Act of 1980 (FTRPTA) inc:ume tax witltholdiag. FIRPTA authorized the United Stasis to tax foreign persons on dispositions of U.S. real property interests. 't'his includes but is not limited to a sate or exchange, liquidation, redemption, girt, transfers, cbc. Persons purchasing U.S. real property interests (transferee} from foreign persons, certain purchasers' agents, and settlement oiI'rcers are required to withhold 10 percent of the amount realized (special rules for foreign corporations Withholding is intended to ensure U.S. taxation of galas realized on disposition of such interests. The transfereelBuyer is the withholding agent. If you are the transfereeJE{Ityer you must fntd oui if the transferor is a foreign person. if the transferor is a foreign person and you fait to withhold, you may be held liable far the tax, PFOTICE REGARDING REAL ESTATE TAXES (Paragraph 2: Purchase Price and Deposits} Rent Estate Tax Proration: For purposes of prorating real estate taxes, the "pecibds covered" by the tmt bills are as follows: Municipal Taxes: For all Counties and municipalities in Pennsylvania, tax bills are for the period January 1 to December- 3 (. School Taxes: For all school districts, other than the Ptu"ladelphis, l~ittsburgh and Scranton school districts, the period covered by the tax bill is July 1 to June 30. For the 1'hilade[phia, Pittsburgh and Scranton school districts, tax bills are for the period January 1 to December 31. Real Estate Assessment: In Pennsylvania, taxing authorities (school districts and municipalities) and property owners may appea[ the assessed value of a properly at the, tithe of sale, or at any time thereafter. A successful appeal by a taxing authority may resah in a higher assessed value for the property and as increase in property taxes. Also, periodic county-wide property reassessments may change the assessed value of the property and resuh in a cdtaage in property tax. NOTICE TO BUYERS SEEI{ING MORTGAGE FINANCING (Paragrap4 8: ibiortgage Contingency} The appraised value of the Property is used by lenders to determine the manirnum amount of a mortgage loan. The appraised value is determined by as independent appraiser, subject to the mortgage lender's underwriter review, and may be higher or lower than the Purchax Price andlor market price of the property. The Loan-To-Va[uc Ratio (LTV) is used by lenders as one tool to help assess the potential risk of a mortgage loan. LTV is determined by dividing the requested loan amount by either the Purchase Price or the appraised value of the property, whichever is lower. A particular LTV may be necessary to quali#y for certain loans, or Buyers tttlght be required to pay additional fees ifthe LTV exaceds a specific level. NOTICE REGARDING TRUTH IN LENDING {Paragraph $: Mortgage Caatiagency) The Mortgage Disclosure Improvement Act requires mortgage lenders to provide Bttyer with a Truth in Lending (TIL) statement at the time of mortgage application {early disclosure) and anytime thereafter (re,disclosure} if the anmtal perexntage rate (APR} changes by more than .125 percent. Settlcmertt cannot occur within 7 days of the early disclosure or within 3 days of re-disclosure. if a re-disclosure of a TIL statement is made within 3 days of the Settlement Date in the Agreement, settlemem for the Property would have to ocarr aRer the Settlement Date stand. Buyer and Seller are advised that the APR may change by mare than .125 percent based on factors including, but not limited to, Seller credits, changes in town amount or duration, and Settlement Date change. If the Buyer and Seller agree to modify the Settlement Date in response to the TiL statement waiting period, or for any other reason, it should be done by mutual written agreement of the parties. Buyer laitials~ i~ `*+ / ~~ Beck et Page 1 Revised 7/11 3elier Initial~~~' Ptoduoetl with ripFantRa by apLOgix 18D70 Fineen Mlle Road Fraser, Mtn 4BD2c' www aotodx mm $rad and Amanda Jan 11 12 08:21 p Microsoft 71 726371 1 4 p.16 SEWAGE NOTICES (Paragraph ]tl: Seller Representations) NOTICES PURSUANT TO THE PENNSYLVANIA SEW AGE FACILITIES ACT NOTICE ]: THERE 1S NO CCIRRENTLY EXI5TING CO1FiMUNITY SEWAGE SYSTEM AVAILABLE FOR TIl(E SUBJECT PROPERTY. Sation 7 of the Petu>tsylvtttrtia Sewage FaciNticx Act provides that nn person shall install, wn>alrucl, rayuest bid proposals for eonsttvv:~.:tion, alter, repair or oa:upy any building ar structure for which an individual sewage system is to be installed, without first obtaining a permit. Buyer is advised by this notice that, haf'are signing this A~menl, Buyer should contact the local agency charged with adtninist:~xing tltr ASK W delerutine the procedure and requirements for obtaining a permit for an individual sewage system. The local agency charged with administering the Act will be the municipality where the Property is bested or that municipality working cooperatively with others. NOTICE 2: THIS PROPERTY IS SERVICED BY AN INDIVIDUAL SELVAGE SYSTEM INSTALLED UNDER TAE TEI<-ACRE PERMIT EXEMPTION PROVISIONS OF SECTION 7 OF THE._ PENNSYLVANIA SEWAGE FACILITIES ACT. - (Section 7 pro~7des drat a permit may not be required before installing, constructing. awarding a oontrad: for oonstructinn, altering, repairing or cwnnecting >p an individual sewage system where nten-acre parcel or tut is subdivided from a parent tract after 7anuary 10, 1987). Buyer is advised that soils and site vesting were not conducted end that, should the system malfunction, the owner of the Property or pmperties serviced by the sy~tn atlhe time of a malfunction may beheld liable for any contamination, pollution, public heahh hazard or nuisance which oceurs as a result. NOTICE 3: THIS PROPERTY iS SERVICED BY A HOLDING TANK (PERMILNENT OR TEMPORARY) TO WHICH SEWAGE IS CONVEYED BY A WATER CARRYING SYSTEM AND WHICH IS DESIGNED AVD CONSTRUCTTD TO FACILITATE lt1LTIMATE DISPOSAL OF TITE SEWAGE AT ANOTHER SITE. Pursuant to the Pennsylvania Sewage Facilities Act, Seller ®ust provide a history of the annual cost of maintaining the tank from the date of its installation or December 14, 1995, whichever is later. NOTICE 4: AN INDIVIDUAL SEWAGE SYSTEl14 HAS BEEN INSTALLED AT AN ISOLATION DISTANCE FROM A WELL THAT IS LESS TIHA,~T THE DISTANCE SPECIFIED BY REGULATION: The regulations at 25 Pa_ Code X73.13 pertaining to minimuarr horizontal isolation distances proride guidance. Subsection {b) of § 73.]3 states that the mhtintum horizontal isolation distance between an individual water supply or warier supply system suction Lino and trc~ncnt tanks shall be 50 feet. Subsection (c) of §73.13 states that the hori~ntal isolation distance betwoen the individual water supply or water supply s;,~stem suction line and the perimeter of the absorption area shall be 1 t10 feel NOTICE S: THIS LOT I5 WITIiIiY AN AREA 1fN WATCH PER;1[IT LIMITATIONS Ai12E IN EFL" ECTAND IS SUBJECT TO THOSE LiM1TATiONS. S)LWAGE FACILITIES ARE KOT AVAILABLE P'OR THIS LOT A.LiD CONSTRUCTION OF A STRUCTURE TO BE SERVED BY SEWAGE )FACILITIES MAY NOT BEGIN UNTIL THE MUNICIPALITY COMPLETES A MAJOR PLANNLVC REQUIREMENT PURSUANT TO THE PENNSYLVANIA SEWAGE FACILITIES ACT AND REGULATIONS PROMULGATED THEREUNDER. Boyer initiale:~J~ ~l~~~i Back of PAge Z Reviled 7/t1 Seller Initial %, Froduoatl wan atpFOrrr~ ay ziFlogix 181YI0 Fifteen Mil9 Roetl, Fraser, Michigan 480eti ~ Brod and Amanda Jan 11 12 08:22p Microsoft /1 /1ti:i/114 p.1 / NOTICES REGARDING LAhD USE RESTRICTIONS (Paragraph 10: Seller Representations) NOTIf.E PUR5UAItiT TO THE PENNSYLVA;\IA RIGHT-TO-FARRi LAW {3. P.S. §951-95Tj The property you arc buying may be located in an area where agricultural operations take place. Pennsylvania protects agricultural resources for the prrxluetion of Faod and agricultural products. The lari limits cit+cumstances where normal agricultural opccutions may he subject to nuisance 4twsuitti ur r~tricGve ordinances. FARM LAND AND FOREST LAND A55ESSMENT ACT (CLEAI\ AND GREEN PROGRAM} (72 P.S. ~ 54911.1 et seq.) Pmperties enmlled in the Clean and Green Program receive preferential tax assessment. Notices Required by 5cbcr: A Seller of Property enrolled in the Clean and (irrxxr Program must submit nolia~ of the sale and any proposvxl changes in the use of Seller's remaining enrolled Property to the County Assessor 30 days beforo the transfer of title to Buyer. Notices Required by Buyer: A Bummer of Property enrolled in the Clean and Gre,+en Program must submit notice of arty proposed changes Buyer intends to make in the use of the Property being purchased Yo the County Assessor at least 30 days prior to undertaking any changes. Loss of Preferential Tax Assessm~ttt The sale of the Property errrolied in the Clean and Cn'een Program may result in the loss of program enrollment and the loss of preferential tax assessment for the Property and/or the land of which it is a part and from which it is being separated. Removal from enrollment in the Clean and Green Program may result in the charge of rnll-back taxes and interest Atoll-bade tax ;s the difference in the amount of taxes paid under the program and rite ta:ces that would have been paid in the absence of Clean and Green enrollment. The roll-back taxes are charged for each year that tfre Property was enrolled in the program, Limited to the past 7 years. Bayer and Seller have been advised of the Deed to debermine the tax implications that will or may reauk from the sale of the Property to Buyer or that may result in the future as a result in any Change in rise of the Property or the land from which it is being separated by contacting the County Tax Assessment Office before the execution of this Agreement of Sale. OPEN SPACE ACT 32 P.S. §5001 et seq_ This Act enables counties to enter into covenants with owners of land designated as farm, forest; water supply, or open space land on an adopted municipal, county or regional plea for the purpose of preserving the land as open space. A covenant between the owner and county is binding upon any Buyer ofthe Property during the period of time that the covenant is in effect (5 or LO years). Covenants automatically renew at the end of the covenant period unless specific termination notice procedures are followed. Buyer acknowledges that the purchase of Property for which there is a covenant will not extinguish the covenant and that a change in the use of the land to any other use other than that designated in the covenant will constitute a breach. When a breach of the covenant occurs, the then-owner is required to pay roll-hack taxes and interest. A roll-back tax is the difference in the amount of taxes paid and [he taxes that would have beta paid in the absence of the covenant. The roll-back taxes are charged for each year that the Property was subject to the covenank limited to the past S years. Buyer has bees adviised of the need to determine the restrictions that will apply tFam the sale of the Property to Buyer and the tae implications that will or may result lrom a change in use of the Property, or any portion of it. Buyer is further advised to determine the term of any covesant caw in effect Buyer Litials•~~ tNW Bae4 of Page 3 Revised 7/11 Pro~ced WiN zipFwrc® by ziptogis 1e0~0 Fbleen Nllb Reed Fraser, Midti~an 48D26 .gy~,ygm Seller Initial Brad end Amanda Jan 11 1208:22p Microsoft (I /Lti;s/1"14 p.~u NOTICES BECARDIiVC PROPERTY & ENVIRONMENTAL t'-~TSPEC'CiONS (Paragraph 12: Inspcct[ons) ]Exterior Insulation and Finish Systems (EIFSj: Exterior Insulation sad Finish Systems -sometimes referred to as synthetic stucco -arc multi-layered wall systems appEicd to the exterior of some homes. Foot or improper installation of L[FS may result in moistnrc penetraring the surface of a stncKure where it may cause damage to the building's frame. Leakage most frequently occurs near doors and windows, gutters, the roof carma~ction and at the lowermost edge of the exterior surface. Yulncrability to leakage depends on structure design as well as the expertise and application skills of the contractor. Damage caused by water intrusion may be both extensive and expensive to repair but may gn undetected in the nhsenee of Ott adequate inspection. Buyers purchasing homes with BlF'S consvuction may seek w eny~;e an inspeuKUr experienced in tesslmg for EIFS-related problems who can determine the moisture conterrt of the building's frame. Asbestos: The heat-resistant and durable nature of asbestos makes it useful in construction. The physical properties that give asbestos its resistance to heat and decay arc linked with several adverse health effects. Asbestos can easily break into microscopic fibers that remain suspended in the air far long periods of time. iYhea inhaled. these Sbcrs easily pcnctrate body tissue. Asbestos is lcno-rn to cause Asbestosis and various forms of cancer. Inquiries or requests for more information about asbestos can be directed to the U.S. Environrr~ntal Protection Agency, Ariel Rios Building, 1200 Pennsylvania Ave., N.W., Washington, D.C. 20460, and/or the Department of Health, Commonwealth of Pennsylvania, Division ofF.nvironmental Health, Harrisburg, PA 17120. - . . Electromagnetic Fields: Electromagnetic Fields (E1RFs) occur around all electrical appliaztces and power lines; Conclusive evidence that Elti1Fs pose health risks does not exist at present, and Pctmsylvania has no laws n~anding this issue. Environmental 13azards: The II.S. Em~ronnrental Protection Agency has a list of hazardous substances, the use and disposal of uhieh are restricted by law. Generally, if hazardous substances are found on a property, it is the property owners responsibility to dispose of them property. For more information and a list of hazardous substances, coxrtacx the U.S. Environmental Protection Agency, Ariel Rios Building, 1200 Pennsylvania Ave., N.W., Washington, D.C. 20460, {202) 2b0-2090. Wetlands: Wetlands are protected by the federal and state govenunents. Buyer may ntish tp hire an environmental engineer W investigate whether the Property is located in a wetlatxls area to determine if permits for plans to build, improve or develop the property would be affected or denied because of its location in a wetlands area. Meld, Fangi and Indoor AIr Qtratrty: Indoor moEd contamination and the inhalation of bioaerosols {bacteria, mold spores, pollen and viruses) have been associated wd~ allergic responses Encluding upper respiratory congestion, cough, mucous membrane irritation, fever, chills, muscle ache or outer transient inflammation or allergy. Claims have been asserted thaz exposure to mold contamination and bioaerasols has led to serious inflection, immunosuppression and illnesses of netuo or systemic toxicity. Sampling of indoor air quality and other methods exist to determine the presence and scope of indoor contamination. Because individuals may be afficcted differently, or not affected at all, by the presence of mold or other bioaerosols, Huger may wish to engage the services of a qualified professional to undertake an assessment andr'or sampling of the Property. Assessments and samplings for the presence of mold and bioaerosols can be performed by qualified industrial hygienists, engineers: laboratories and home inspection companies that offer these services. Information about indoor are quality issues is available through the U.S_ Environmental Protection Agency and r>xy be obtained by contacting IAQ INFO, P.Q. Bax 37133, Washington, D.C.20013-7133,1-800-438-4318. Radon: Radon is a natural, radioactive gas that Es 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 an; 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 Bnvirotrmental Protection. Information about radon add about certified testing or nvtig,~ion fines is available through Department of Environmental Protection, Bureau of Radiation Protection, 13th Floor, Rachel Carson State Office Building, P.O. Bax 8469, Harrisburg, PA 17105-8464, {800) 23RADON or (717) 783-3594. w~w,epagov NOTICES REGARDING RESIDENTIIAL LEAiI•BASED PAINT HAZARD REDUCTIOlti ACT (Paragraph 12: Inspections) Lead-Based Paint Hazards Disclosure Requirements (for properties built before; 1978): Ttte Resid~tial ,Lead-Based Paint Hazard Reduction Act requires any Seller of property built before 1978 to provide the Buyer with an F.PA-approved lead hazards information pamphlet titled Prefect Your Family from Lead in Your Ho»ee and to disclose to the Buyer and the broker(s) the known presence of lead-based paint and/or lead-based paint hazards in or on the property being sold, along with the basis used for determining that the hazards exist, the location of the hazards, and the condition of painted surfaces. Arty Seller of a pre-1978 strueturt must also provide the Buyer with any records or reports available to the Seller regarding lead-based paint and/or lead based paint hazards in or about the property being sold, the common areas, or other residential dwellings in multi-family housing. Before a Buyer is obligated to purt;hase any housing constructed prior to ] 978, the Act requires the Seller to give the Buyer 10 days (unless Buyer and Seller agree in writing to another time period) to conduct a risk assessment or inspection for the prosarcc of lead-based palm and/or lead-based paint hazards. The opportunity to conduct a risk assessment or inspection may be waived by the I3uyer, in writing. Neither testing nor abatement is required of the Seller. dousing built in 1978 or later isJ~n~ot~sub"act to the A,ct. Bayer t~iria7s• ~-Y~"~/ // ~~,~ - Back oiPage 4 Seller ]aitiallF:~*ij-•-' Revised 711! A'oduoad with apFOrrYa by zfpLogix 1a070 FiRoen Ala Road, Fraser, Michigan 4816 www ~ ~+.+~ mn, Brad and Amanda Jan 11 12 08:23p Microsoft 71 726371 1 4 p.19 LEAD q+A,RNIHG STATEMENT (FOR PROPERTIES BUILT BEFORE 1978) Every purchaSi;r of any interest in residential I~ea! property on which a residential dwdking was built prior to 1978 is notified that such property may present exposure to lead from lead-based paint that may place young children at risk of developing lead poisoning. Lead poisoning in young children may produce permanent neurological damage, including learning disabilities, reduced intelligence quotient, behavioral problems, and impaired memory. Lead poisoning also poses a particular risk to pregnant women. The Selkx of any imerest in residential real property is required w provide the Buyer with any information on tread-based palm hazards from risk assecsmentc or inspections in the Seller`s possession and notify tht Buyer of nay known lead-based paint hazards_ A risk assessment or inspection for possible lead-based paint hazards is reoommeaded prior to purchaso. I~IOTICE REGARDP_~1G THE IiO~tE 1NSPF~CTION LAW (G8 Pa. C.S.A. $7501, et seq.) (Paragraph 1Z: iospeetlaes) Applicability: The iiotne Inspection Law applies to "residcatial real estate transfers." deCncd as a sett exchange, instalment sales wntract, lease with an option to buy, snort or other transfer of an interest in real property where NOT LESS THAN ONE AND NOT MdRE THAN FOUR RESIDENTIAL DWELLING [)NITS are involved. (5ce Notice Regarding The Rcal Estate Salter Disclosure Law (exceptions 1-8) for a list of excepaoaq to this ~enetal rule. j TLe following deTinitions are taken from the text of the Home Inspectan Law Home Inspection: A oat-invasive, visual examination of some combinazioo of the .mechanical, electcieal or plumbing systems ar the strttetural sod essential components of a residential dwelling designed to kdeatify material ddecls in dtose systems and components, and performed for a fee in connection with or preparation for a proposed ar possible residential real estate transfer. The term also includes any consultation regardirRg the property that is represented to be a borne inspection or that is described by any cortfitsvtgly similar term The term does not include an examination of a single system or component of a residential dwelling such as, for example, its electrical or plumbing system or its roof: The term also does not indude ~ examination that is limited bo inspection for, or of, one or more of the fallowing: wood-destroying insects, underground looks and wells, septic systems, swimming pools and spas, alarm systems, air and water quality, tennis courts and playground equipment, pollutants, toxic ehcmicals end environmental hazards. The scope of a home inspection. the services w be performed and the systems and conditions to be inspected or excluded from inspection may be defined by a contract between the home inspector and the client. Home inspection Report: A written report on the results of a home inspection. A home inspection report shall include: (I) A description of 0te scope ofthe inspection, including without limitation an identification of the structural elements, systems and subsystems covered bythe report. (2) A description of any material defects noted during the inspection, along with an}' recoaunendation that certain experts be regained to determine the extent of the defects and any corrective anion that should be taken. A "material defect" that poses an unreasonable risk to people on the property shall be conspicuously identified as such. A home inspector shall not express either oraIiy or in writing an estitimate of the cost w repair any defect found during a home inspection, except that such an estimate may be itrclreded in a Iwnre inspection report if: (1) the report identifies the sourceaftheestiroatc; (2} the estimate is stated as a range of costs; and (3) the report states that the parties should consider obtaining an estimate from a contractor who performs the type of repair involved. Seller shall have the right, upon request, to receive without charge a copy of any inspection report from the party For whom it was prepared. Horne inspector: An individual who performs a home inspection. l+lational home inspectors association: Any naziorral association of home inspectors that: (I } Is operated on snot-for-profit basis aril is not operated as a franchise. {2) lies members in more than ten states. {3) Requires that a person may not become a full member unless the. person has performed or participated in more than I00 home inspections and has passed a recognized or accredited examination resting knowledge of the proper procedures for conducting a home inspection. {d} Requires that its members comply with a code of conduct and attend continuing professional education classes as an ongoing condition of membership. A Boyar shall be entitled to rely in good faith, without independent investigation, on a written representation by a home inspector that the home inspector is a full member in good standing of a national home inspection association. Material defect: A problem with a residential real property or any portion of it that would have a significant adverse impact nn the value of Ute property or that involves an unreasonable risk to people on the property. The fact that a structural element, systan or subsystem is near, of or beyond the end of the normal useful life of such a structural element, system ar subsystem is not by iLRel f a material defeuK. Srycr laitials},~ !~ Back of Page S Seller Initial 'r~' Revised 7Ji1 P~ucay withripForm®hy cipLoghc 1aW0 Freese MileRosd, F~asw, M~Mgar CN0.26 wwr.zioLmoc.cam Brad 9tld AmsadB Jan 11 12 08:24p Microsoft /1 726371 1 4 p.20 V t3TICES REGARDING CUNDO14IiYRT1dS AVD PLANNED CUMMUIV I'l'11J'S (Paragraph 15: CondominlumlPlanaed Community (homeowner Association) Resale Notice) Definition of a Condominium 'fhe Uniform Condominium ACt defines a "condominium" as real estate, portions of which arc dcsipinated fbr separate ownership and the r+[xnainder of which is designated for ootnmon ownership solely by the owners of those portions. Real estate is not a condominium unless the undivided inoerests in the common elements are vested in the unit of;Hers. Definition of a Plbarned (;ommunity The Uaifann L'laru~cd (;ommunity Act defmcs o planned community" at retll eFtote with trspect to which a person, by rirtue of uw[tersirip of a!r irtlerest ill any portion of the real rstate, is or may become obligated by covenant, casement or agrremcnt imposed on the owner's ingest to pay any amormt for real property taxes, insurance, mairttenancc, repair, improvement, tttanagement, adininistraroon or regulation of any part of the real estate other than the portion or interest ou~ncd solely by die person. The term excludes a cooperative and a condominium, but a cooperative or condominium tnay be part of a plaartcd cotttrnunity. For the purposes of this definition, `'ownership" includes holding a leasehold interest of mare than 2t1 years, including renewal options, in ttial estate. '11re term includes Han-residential cairtpground commtmities. • Exemptions from the Unlforttt Planned Cammttaity Act and the Uniform Coatdolt![ininm Act: When a Certificate oi'Resale Is Not Required The owner of a property located within a planned vrommuniry is not required io furnish the Buyer with zi certificate of resale under the following circumstances: (t) The Planned Community contains no more than 12 units, provided there is no possibility of adding real estate or subdividing units to increase the size of the Planned Community. (2) The Planned Community/Condominium is one in which all of the units are restriebed exclusively to non-residential use. unless the declaration provides that the resale provisions aze neverthelrss to be followed. (3) The Planned Community/Condominium or units are located outside the Commonwealth of Pennsylvania. (4) The transfer of the unit is a gratuitous trgr>sfer. (5) The transfer of the unit is required by Court order. (6) The transfer of the unit is by the government or a gor~emmentgl agency. (?) The ttgnsfer of the unit is the result of foreclosure or in lieu of 8oreclasure. Notices Regarding IPublk Offering States~ents artd Right m Rescission If Seller is a Declarant of the condominium or planned community, Seller is required to flrtttish Buyer with a Copy of the Public OfY'ering Statement and its attxndmerrts. For condominiums, the delivery of the Public Olfiixing Statement must be made no later than the date the Buyer executes this Agceernent. Buyer may cancel this Agreement within 15 drys after receiving the Public Offerigg Statement and arty amendments that materially and adversely affect Buyer. For planned corornunities, the Declarant mast provide the $wer with a copy of the Public Offering Statement and its amendments no later than the dart the Buyer executes this Agreement, $uytir Wray cancel this Agreement within 7 days after raxi;ving the Public Offering Statement and any amendments that materially and adversely affect Buyer. NOTICES REGARDING RECREATIONAL CABLYS (Paragraph T6: Titre, Surveys ~& Costs) The following definitions sod regaireraeats are taken from the Pennsylvania Constructions Code Act (35 P.S. §7210.101 et.seq.) A Recreational Cabin is a structure which is: (I) Utilised principally for recreatianai activity; (2) Not utilized as a domicile or residence for any individual for any time period; (3) Not utilized for commercial purposes; (d) Not greater than two stories in height, excluding basement; (S) Not utilizer by rho owner or airy other person as a place of emplaymenr (6) Not a mailing address for bills and correspondence; and (7) Not IisOed as an individual's platx ofresidence on a tax return, driver's ficense, car rogistration or ~roter registration. A recreational cabin may be exempt from the provisions of the Pennsylvania Construction Code Act if: {!) The cabin is equipped whir at least one smoke detector, one fire extinguisher and are carbon monoxide detector in both the kitchen and sleeping quarters; and (2} i he owner of the cabin files with the municipality either: (a) An affidavit on a form prescribed by the Pennsylvania Departrtrent of Labor and Industry attesting to the fact that the cabin meets the definition of a "recreational cabin" in Section 103 of the Ac[; or (b) A valid proof of insurance for the recreational cabin, written and issued by an insurer authorized m do business in this Commonwealth, stating that the structure meets the definition of a `recreational cabin" as defined in Section 103 of the Act. It a recreational salsin is subject bo exclusion from the Pennsylvanla Construction Code Act, upon transfer atownership of Cite recrestlonsl cabin, written notice must 6e provided in the sales agreement and the deed that the recreational cabin: (1) Is exempt from this Act; (2) ]Vlay not be in conformation with the uniform construction code; and (3) is not subject to municipal regulation. Failure to comply with this notice requirement she!! render the sale void at the option of the purchaser. ~) ~~ Bayer 1niNals: ~I~ `''/ ~~ Seek of Pace b Seller Ini1i~ ~ Rerlscd 7!l t Protluced with zioForm® 6y zpLogix 187/0 Fllleen Mra Road, Fresa, Michigan 49025 w~u ,y~y ~o~x.mm Brad and AmatK3a Jan 11 12 08:33p Microsoft 7172637114 p.2 NOTICES REGARDING PRIVATE TRANSFER FEES (Paragraph 16: Title, Sarveys &: Costs) In Pennsylvania, Private Transfer Fees are defined and regulated in the Private Transfer Fee Obligation Act (Art 1 of 201 l; 68 Pa.C.S. §¢ 8101, et. seq.), which defines a Private Transfer Fee as "a fee that is payable upon the transfer of an interest in real property, or payable for the right to make or actxpt the transfer, if the obligation to pay the fee or charge nets with title to the property or otherwise binds subsequent owners of property, regardless of whether the fee or charge is a fixed arootmt or is determined as a percentage of the value of the property, the purchase price or other consideration given for the transfer." A Private Transfer Fee roust be properly recorded to bt: binding, and selleas must disclose the existence of the fees +A prospcct:rc buyers. Where a Private Transfer Eee is not properly recorded or disclosed, the Act gives certain rights and protections to buyers. iVOT'ICES REGARDIr+C 1VIEDIAT[ON (Paragraph 24: Mediation) NOME SELLERSlHOME BL:YERS DISPUTE ft>a50I.UTIDN SYSTEM RULES AKD PROCEDI7RE3 1. Agroertent of Parties: The .Rules and Procedures of the Dispute Resolution System (DRS} apply when the parries have agreed in writing do mediate under DRS. The wtitGen sgreemcro can be achieved by a standard clause in an agreement of sale, an addendum to an agreement of sale, or through a separate written agreement. 2. Iaitiation of Mediation: if a dispute existsy any party may start the mediation process by submitting a completed Request to Initiate Mediation DRS Transmittal Form (Transmittal Form) to the focal Association of REALTORSC~ (hereatler "Administrator"). The Trartsnlitral Form should be available tttcougtt the Administrator's office. The initiating party should try to irt~elude the following information when sending the oantpleted Transmittal Form to the Administrator: a. A copy of the written agreement to mediate if there i5 one, OR a request by the initiating party to have the Administrator contact the other parties to the dispute to invite them to join the mediation process. b. The names, addresses and telephone numbers of the parties involved in the dispute, including the name of evcty insurance carnpany known to have received notice of the dispute or claim and the corresponding ffle or claim member. c. A brief statemenx of the facts of the disptnc and the damages or relief sough. . 3. 5electioa of Mediator: A'itbin five days of receiving the completed Transmittal Form, the Administrator will send each party to the dispute a copy of the Transmittal Forst and a list of qualified mediators and their foe schedules. Each party then has~tat days to reslew the list of mediators, cross off the name of any mediator to whom the parr;+ objects, and return the list to the Administrator-. The Adroinistratar will appoint the first available mediator who is acc:eptahle tv all parties involved. A mediator who has any financial or personal interest in the dispute or the rasult9 of the mediation cannot serve as mediator to that di~atte, unless all parties are informed and give their written consent 4. !Vlediatian Feea: Mediation fees will be divided equally among the patties and will be paid before Ills mediation conference. The parties .t7I1 follow the payatertt terms contained in the mediator's fee schedule. 5. 'l'ime and Place oiMediation Conference: Within ten days of being appointed to the dispute, the mediator will contact the parties and set the date, time and place of the mediation conference. The mediator mast give ai least twenty days' advance notice to all parties. The mediation conference should-not be more than sixty days from the mediator's appoinitnent th the dispute. 6. Conduct of Mediation Conftrence: The parties attending the mediation conference wi[1 be expected to: a. have tin authority to enter Into and sign a binding se~ltlement to the dispute. b. Produce ail information required for the mediator to understand the issues of the dispute. The information may include relevant written materials, descriptions of witnesses and the content of Uteir testimony. The mediator can require the parties to deliver written materials and informatiion before the date of the mediation conference. The mediator presiding aver the conference: a. Will impartially conduct an orderly settlement negotiation. b. Wii[ help the parties define the matters in dispute and reatSl a mtltttally agreeable solution. c. Will have no authority to render an opinion, to bind the parties to his or her decision, or m force the parties to reach a seTtlenlent. Formal rules of evidence will mot apply to the mediation conference. ?, Represeotatiw by Counsel: Any party who intends to be accompanied to the mediation conference by gal counsel will notify the mediator and the other parties of the intent at least nett days before the conference. 8. Confidentiality: No aspect of the mediation can be relied upon or introduced as evidence in any arbitration, judicial or other proceeding. This includes, but is not limited to; any opinions or suggestions made by any party regarding a possible settlement; arty admissions made during the course of the mediation; any proposals or opinions expressed by the mediator, and airy responses given by any party to opinions, suggestions, or proposals. No privilege will be affected by disclosures made in the course of the mediation. Transcripts or recordings ofthe mediation will not be allowed without the prior, written consent of all parties and the mediator. Records, reports, and other documents received or prepared by the mediator or Administrator cannot be compelled by an arbitration, judicial, or other proceeding, with the exception of an agreement that was reached in the course of mediation and signed by all the parries. Neither the mediator Iles the Administrator can be compelled to testify in any proceeding regarding information given or representations made either in the course of the mediation or in any conSdential communication. 9. Mediated Settlements When a dispute is resolved through mediation, the mediator will put the complete agreement in writing and all parties will sign the written agrcemem within ten davs of the conclusion of ties mediation conference. Every reasonable effort will be made to sign the written agreerrlent at the end of the conference. 14. Judicial Proceedings and Immunity: NEITFIER THE AnMn~ISTRATOR, TEi6 MEDIATOR, THE NATIONAL ASSOCIAT101~ OF REALTORS, THE PENNSYLVANIA ASSOCLITTON OF REALT012S~, NOR ANY OF rrs vtEA4sER BOARDS, V+TLL BE DEEME7 NECESSARY OR INDISPENSABLE PARTIES IN ANY JUDiC[44 PROCEEDINGS RFit,AT[NG TO MEDIATION UNDER THESE RULES AND PROCEr3t]R33, FOR V1'1L1. ANY OF THEM SERVING Il?ID112 THESE PROCEAURES BE LIABLE TO ANY PARTY FtlR ANY 4Cr, ERROR OR OMISSION IN CONNECTION WITH ANY SERVCCE OR TL•IE OPERATION OF Tf~ I-IO,t1E SEfl.ER5JH0 BUYERS DISPUTE RESOLU'rf Y5T~1.- , Buyec Lnitiats: i ~( u'WI ItJ~ Back of Page 7 Sel7sr lrntials J Rerised 7JI1 Produced with zipFo~mO oy ziploaix 19070 FlRaen Mile Rued, Preset, MicFipan •48Q26 wwstaoLoaiz eem Brad sad Amanda Jan 11 12 08:34p Microsoft 7172637114 p.3 NOTICES REGARDIlVG T11E REAL ESTATE SELLER DISCLOSURE LAW (Page 11: Signature Page) The Real Estate Seller Disciasure Law requires that before an agreement of sale is signed, the Seller in a residential real estate transfer mast make cxriain disclosures regarding the property to potential Buyers in a form defined by the law. A residential real estate transfer is defined as a sale, exchange, installment Sales eontn3ct, lease with an option to buy, grant or other transfer of an interest in real property where NOT LESS THAN ONE AND NOT V10RE THAN FOUR RESIDlENTIAL DWELLING UNTTS arc involved. The Law defines a number of exceptions ~vhere the disclosures do not have to be made: ! . Transfers that are the resuh of a court order. 2. Transfers>p a mortgage Iender that result from a Buyer's default and subsequent foreclosure sales that result from default. 3. Transfers from a co-o-vner to one or more other co-owners. 4. Transfers made to a spouse or direct descendant. 5. Transfers behveen spouses that result from divorce, legal separation or property settlement. 6. Transfers by a corporation, parhtership or other association to its shareholders. partners or other equity owners as part of a plan of liquidation. 7. Transfer of a property to be demolished or converted to non-residential use. S. Transfer of unimproved real property. 9. Transfers by a fiduciary during the administration of a decederrt estate, guardianship, conservatarslrip ortrust. L0. Transfers of neiv construction that has never been occupied when: ' a. The Buyer has received none-year warranty covering the construction; b. The building has been inspuxcd for compliance with tine applicable building code or, if none, a, nationally recognized mode] building code; and c. A cert~cate of occupancy ar a certificate of code compliance has been issued for fire dwelling. In addition to these exceptions, disclosures for condominiums and cooplerattves are limited to the Seller's particular units}. Disclosures regazding common areas or facilities are not required, as those elements are already addressed in the laws that govern the resale of condominium and cooperative inlierest5. Bayer rnitin[e;~~, ! Back o4 Ya s 8 RevEaed 7111 Proataee wltA ppfaerr~ dY zlpLoglx 1&TJO F'49e11 Mlle ROiO. F'aser /Achlp>sn 480e"6 vll~yi.aoLmhc.mn Setter Iailial'd`~~~f _ Brad and Amanda SELLER'S ESTIMATED COSTS SEC This form recommended and approved for, but not restricted to use by, the members of the Pennsylvania Association of REALTORS® (PAR) . 2 3 4 5 6 7 PROPERTY 1677 Old Kiln Drive, Chambersburq, PA 17202 SELLER Good News Consulting , BUYER Brady A. walls, Amanda K. walls SETTLEMENT DATE by 2/21/2012 PURCHASE PRICE $ 152 , 000.00 1. 2. 8 3. 9 4. 10 5. 11 6. 12 7. 13 8. 14 9. 15 10. 16 11. 17 12. 18 13. 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 14. 15. 16. 17. 18. Broker's Fee Preparation of Deed Transfer Tax Seller's Assist/Credit to Buyer Home Warranty Municipal Certification(s) Certificate of Resale (Condominium/Homeowner's Association) Settlement Fee Notary Fees Survey On-tot Sewage System Pumping Property Repairs removal & disposal fee of non-value personal propert Tax Certifications Overnight/Express Mail Charges -- - _.Chan~in~ locks & kevs "Patriot Act" Search Other New Carpet, Vinvl and installation Other House Cleaning ~ Removal of staging items ESTIMATED COSTS {subtotal) Adjustments (+/-) (e.g., real estate taxes, association fees, utilities) Final Utl . & upaid Tax $ 9,120.00 $ 100.00 $ 1,520.00 $ 9,120.00 $ _ 1,500.00 $ 89.33 $ 4,233.50 $ 500.00 $ 26 182.83 .~-~ TOTAL ESTIMATED COSTS/ADJUSTMENTS $ 2 6 ,182.83 Purchase Price $ 152 , 000.00 Total Estimated Costs/Adjustments (from above) $ 26,182.83 ESTIMATED PROCEEDS (before loan payoffs) $ 125 , 817.17 Seller's Estimate of Mortgages, Equity, and Other Loan Balances (including prepayment penalties), liens, assessments, etc. ESTIMATED NET PROCEEDS TO SELLER $ 125 , 817.17 The estimated proceeds do not take into account any other undisclosed mortgage obligations, liens, assessments, judgments or other obligations levied against the Property or Seller. Seller understands that the estimated costs stated above are based on the best information available at signing and may be higher or lower at settlement. Seller understands and has received a copy of these estimated closing costs before signing the Agreement of Sale. SELLER Good News Consultin DATE 01/13/2012 SELLER DATE SELLER DATE BROKER (Company Name) , PROVIDED BY (Licensee) Real DATE o~ /i s/_oi ~ Pennsylvania Association of °P REALTORS® EXHIBIT OPYRIGHT PENNSYLVANIA ASSOCIATION OF REALTORS® 2005 n»wk.a.R.rer.e.+rr.~nn..Y. b / 12/05