FHA/VA ADDENDUM AMENDMENT TO PURCHASE CONTRACT

CONTRACT DATE: _____________________________________

PURCHASER(S): ________________________________________

PROPERTY ADDRESS: ___________________________________

The following paragraph constitutes an integral part of the contract to which it is attached and thereby supersedes all provisions or conditions with which it conflicts. It is expressly agreed that nor-withstanding any other provisions of this contract, the purchaser shall not be obligated to complete the purchase of the property described herein or to incur any penalty by forfeiture of earnest money deposits or otherwise unless the purchaser has been given in accordance with HUD/FHA or VA Administration or a Direct Endorsement lender setting forth the appraised value of the property of not less than $ ____________. The purchaser shall have the privilege and option of proceeding with the consummation of the contract without regard to the amount of the 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. The purchaser should satisfy himself/herself that the price and condition of the property are acceptable.

CLOSING COSTS - Seller understands that the pest inspection, tax service fee and document preparation fees and underwriting fees, (estimated approximately $ ____________ respectively) are traditionally a sellers charge on a government transaction and hereby agrees to pay said fees at the time of closing. (In the event seller refuses to accept above mentioned costs, exclusive of underwriting fee, borrower agrees to pay for Pest inspection, Tax Service fee, and Document Preparation fee as long as lender pays 3rd party for those services rendered.)

REPAIRS - Seller agrees to pay up to $ ___________ and purchasers agree to pay up to $ ___________ towards repairs required (if any) by the municipality and/or FHA.

CERTIFICATION

We, the undersigned, the seller(s), the purchaser(s), and the broker(s) involved in this transaction each certify to the best of our knowledge and belief that the terms of the contract for purchaser are true and that any other agreement entered into and by any of these parties in connection with transaction is attached to the Sales Agreement/Purchase Contract.

_____________________________ ____________________________ SELLER DATE PURCHASER DATE

_________________________ ________________________ SELLER DATE PURCHASER DATE

_________________________ ________________________ AGENT DATE AGENT DATE

_________________________ ________________________ REAL ESTATE CO. DATE REAL ESTATE CO. DATE

WARNING

Section 1010 of Title 18, U.S.C. Federal Housing Administration transactions provides: “Whoever, for the purpose of influencing in any way the action of such Administration…makes, passes, offers, or publishes any statement knowing the same to be false… shall be fined not more than $5,000.00 or imprisoned not more than two years or both.”