No. RA33 - 8 - 18 . RESIDENTIAL ADDENDUM TO CONTRACT TO BUY AND SELL REAL ESTATE Page 1 of 2 The printed portions of this form, except differentiated additions, have been approved by the Colorado Real Estate Commission . 1 (RA33 - 8 - 1 8 ) (M andatory 1 - 1 9 ) 2 3 THIS FORM HAS IMPORTANT LEGAL CONSEQUENCES AND THE PARTIES SHOULD CONSULT LEGAL AND TAX OR 4 OTHER COUNSEL BEFORE SIGNING. 5 6 RESIDENTIAL ADDENDUM 7 TO CONTRACT TO BUY AND SELL REAL ESTATE 8 9 Date: 10 11 1. ADDENDUM TO CONTRACT TO BUY AND SELL REAL ESTATE . This Residential Addendum 12 (Addendum) is made a part of the following contract that is checked: 13 Contract to Buy and Sell Real Estate (Land) between Seller and Buyer (Contract) dated 14 relating t o the sale of the Property, or; 15 Contract to Buy and Sell Real Estate (Commercial) between Seller and Buyer (Contract) dated 16 relating to the sale of the Property 17 18 known as (Property). 19 Street Address City State Zip 20 21 This Addendum shall control in the event of any conflict with the Contract. Except as modified, all other terms and provisions of 22 the Contract shall remain the same. Terms used herein shall have the same meaning as in the Contract. 23 24 2. PURPOSE. The Property contains, in part, one or more residences but the Contract does not contain required 25 provisions that are set forth in this Addendum. The Contract provisions are added or a mended as follows: 26 4.5.3. Loan Limitations. Buyer may purchase the Property using any of the following types of loan: 27 Conventional FHA VA Bond Other . 28 4.5.4 . Loan Estimate Monthly Payment and Loan Costs. Buyer is advised to review the terms, conditions and 29 h a 30 Loan Estimate within three days after Buyer completes a loan application. Buyer also should obtain an estimate of the amount of 31 32 6 .2.2 . FHA. It is expressly agreed that, notwithstanding any other provisions of this Cont ract, the p urchaser 33 (Buyer) shall not be obligated to complete the purchase of the Property described herein or to incur any penalty by forfeitur e of 34 Earnest Money deposits or otherwise unless the p urchaser (Buyer) has been given, in accordance with HUD/FH A or VA 35 requirements, a written statement issued by the Federal Housing Commissioner, Department of Veterans Affairs, or a Direct 36 Endorsement lender, setting forth the appraised value of the Property of not less than $. The p urchaser (Buyer) 37 shall have the privilege and option of proceeding with the consummation of this Contract without regard to the amount of the 38 appraised valuation. The appraised valuation is arrived at to determine the maximum mortgage the Department of Housing and 39 Urban De velopment will insure. HUD does not warrant the value nor the condition of the Property. The p urchaser (Buyer) should 40 satisfy himself/herself that the price and condition of the Property are acceptable. 41 6 . 2.3 . VA. It is expressly agreed that, notwithsta nding any other provisions of this Contract, the purchaser (Buyer) 42 shall not incur any penalty by forfeiture of Earnest Money or otherwise or be obligated to complete the purchase of the Prope rty 43 described herein, if the Contract Purchase Price or cost exc eeds the reasonable value of the Property established by the Department 44 of Veterans Affairs. The purchaser (Buyer) shall, however, have the privilege and option of proceeding with the consummation of 45 this Contract without regard to the amount of the reason able value established by the Department of Veterans Affairs. 46 10. 8 . Source of Potable Water (Residential Land and Residential Improvements Only). Buyer Does 47 Does Not acknowledge receipt of a copy of disclosing t he source of 48 potable water for the Property. Buyer Does Does Not acknowledge receipt of a copy of the current well permit. There 49 is No Well . 50 Note to Buyer: SOME WATER PROVIDERS RELY, TO VARYING DEGREES, ON NONRENEWABLE GROUND 51 WATER. YOU MAY WISH TO CONTACT YOUR PROVIDER (OR INVESTIGATE THE DESCRIBED SOURCE) TO 52 DETERMINE THE LONG - 53 10.10 . Lead - Based Paint. 54 10.10 .1. Lead - Based Paint Disclosure . Unless exempt, if the Property includes one or more 55 residential dwellings constructed or a building permit was issued prior to January 1, 1978, for the benefit of Buyer, Seller and all 56 required real estate licensees must sign and deliver to Buyer a comp leted Lead - Based Paint Disclosure (Sales) form on or before 57 American LegalNet, Inc. www.FormsWorkFlow.com No. RA33 - 8 - 18 . RESIDENTIAL ADDENDUM TO CONTRACT TO BUY AND SELL REAL ESTATE Page 2 of 2 the Lead - Based Paint Disclosure Deadline . If Buyer does not timely receive the Lead - Based Paint Disclosure, Buyer may waive 58 the failure to timely receive the Lead - Based Paint Disclosure , or Buyer 247 25.1 by 59 Lead - Based Paint Termination Deadline. 60 10.10 .2 . Lead - Based Paint Assessment. If Buyer elects to conduct or obta in a risk assessment or 61 inspection of the Property for the presence of Lead - Based Paint or Lead - Based Paint hazards, Buyer has a Right to Terminate 62 under 247 Lead - Base d Paint Termination 63 Deadline. Closing Date 64 nduct or obtain a risk 65 assessment or inspection of the Property for the presence of Lead - Based Paint or Lead - Based Paint hazards. If Seller does not 66 to any Lead - Based 67 P aint as satisfactory, and Buyer waives any Right to Terminate under this provision. 68 10.11 . Carbon Monoxide Alarms. Note: If the improvements on the Property have a fuel - fired heater or 69 appliance, a fireplace, or an attached garage and include one or more rooms lawfully used for sleeping purposes (Bedroom), th e 70 parties acknowledge that Colorado law requires that Seller assur e the Property has an operational carbon monoxide alarm installed 71 within fifteen feet of the entrance to each Bedroom or in a location as required by the applicable building code. 72 10.12. Methamphetamine Disclosure. If Seller knows that methamphetamine w as ever manufactured, processed, 73 cooked, disposed of, used or stored at the Property, Seller is required to disclose such fact. No disclosure is required if t he Property 74 was remediated in accordance with state standards and other requirements are fulfilled pursuant to 247 25 - 18.5 - 102, C.R.S. Buyer 75 further acknowledges that Buyer has the right to engage a certified hygienist or industrial hygienist to test whether the Pro perty has 76 ever been used as a methamphetamine laboratory. Buyer has the Right to Terminate under 247 77 e the 78 Property has been contaminated with methamphetamine, but has not been remedia ted to meet the standards established by rules of 79 the State Board of Health promulgated pursuant to 247 25 - 18.5 - 102, C.R.S. Buyer must promptly give written notice to Seller of the 80 results of the test. 81 19.5. Home Warranty. Seller and Buyer are aware of th e existence of pre - owned home warranty programs that 82 may be purchased and may cover the repair or replacement of such Inclusions. 83 84 85 86 Buyer Date Buyer Date Seller Date Seller Date 87 American LegalNet, Inc. www.FormsWorkFlow.com