Montgomery County Jurisdictional Addendum to Sales Contract

Montgomery County Jurisdictional Addendum to Sales Contract

(Required for Use with MAR and Regional Contracts)

The Contract of Sale dated , Address

City , State Zip Lot:

Block/Square: Unit: Section: Tax ID #

Parking Space(s) # Storage Unit(s) # Subdivision/Project:

between Seller and Buyer is hereby amended by the incorporation of this Addendum, which shall supersede any provisions to the contrary in the Contract.

1. MASTER PLAN DISCLOSURES: A or B required; use A unless property is in the City of Rockville corporate limits.

A. Montgomery County:

Buyer acknowledges review of applicable Master Plan and municipal land use plan.

-OR-

B. City Of Rockville:

Buyer acknowledges opportunity to examine the Approved and Adopted Land Use Plan Map and amendments.

2. TRANSFER AND RECORDATION TAXES: (Select either A or B)

A. Buyer is NOT a First Time Maryland Homebuyer

Buyer and Seller expressly agree that the cost of state recordation tax, state transfer tax and local county transfer tax shall be paid as follows:

OR

B. Buyer is a First Time Maryland Homebuyer

Buyer and Seller expressly agree that the cost of state recordation tax and local (county) transfer tax shall be paid as follows:

3. PRIVATE WELL AND SEPTIC:

If the property is on well and/or septic system, the Buyer, at Buyer's expense, OR Seller, at Seller's expense, will:

A. Provide certificate from a private water testing laboratory.

B. Provide septic report from a private company.

C. If either system does not meet requirements, Seller will take remedial action.

4. FEDERAL LEAD-BASED PAINT REGULATIONS:

The Seller represents that this residential property was built prior to 1978 OR was not built prior to 1978 OR building date is uncertain.

Was built prior to 1978 Was not built prior to 1978 Building date is uncertain

Seller's Initials / Buyer's Initials

5. NOTICES:

All notices under the contract shall be in writing. Delivery means hand carried, overnight delivery, wired or electronic medium, or U.S. Postal mailing.

6. COOPERATIVE/CONDOMINIUM ASSOCIATION APPROVAL:

Seller agrees to immediately present this Contract to the appropriate Council or Board for action or consideration.

7. FOREIGN INVESTMENT TAXES - FIRPTA:

Seller will execute an affidavit at settlement if Seller is not a foreign person.

8. PROTECTION OF HOMEOWNERS IN FORECLOSURE ACT NOTICE:

Seller warrants that as of the Date of Ratification no mortgage on the Property is 60 days or more in default.

9. DISPUTES:

Seller and Buyer agree to indemnify and hold brokers harmless as described in this paragraph.

10. VOID CONTRACT:

If this Contract becomes void, all principals will immediately execute a release directing that the deposit be refunded.

11. GENERAL PROVISIONS:

A. Brokerage fee authorization and related provisions.

B. If settlement fails to occur within the time set forth, the broker(s) shall still be entitled to brokerage fees.

C. Buyer acknowledges working with no other agent on this property other than the agent(s) named herein.

D. Compensation for services in event of forfeiture or default.

E. Provisions survive execution and delivery of deed.

12. DEFINITIONS:

Days means calendar days unless otherwise specified. Business Days means Monday through Friday excluding federal holidays.

13. PERFORMANCE:

Settlement is to be conducted by the office of the attorney or title company examining the title.

14. FINANCING:

Obtain Assume Fixed Adjustable rate

Conventional FHA VA Other:

This contract is not contingent on Financing.

15. PROPERTY MAINTENANCE AND CONDITION:

Seller will deliver the Property free and clear of trash and debris, broom clean and in substantially the same physical condition to be determined as of Contract Date or Date of home inspection or Other:

16. ELECTRONIC SIGNATURES:

The parties expressly authorize and agree to the use of electronic signatures as an additional method of signing and/or initialing this Contract.

17. SETTLEMENT ENTITY:

Buyer hereby authorizes the undersigned agent to order the examination of title and the preparation of all necessary conveyance documents through:

18. MARYLAND NON-RESIDENT SELLER:

Seller will have all utilities in service through Settlement or as otherwise agreed.

19. SETTLEMENT COSTS:

Notice to Buyer: Buyer has the right to select Buyer's own title insurance company, title lawyer, settlement company, escrow company, mortgage lender or financial institution.

20. SELLER RESPONSIBILITY:

Seller agrees to keep existing mortgages free of default until Settlement and comply with governmental requirements affecting the Property.

21. SINGLE FAMILY RESIDENTIAL REAL PROPERTY DISCLOSURE NOTICE:

Maryland buyers are advised of the right to receive a Disclosure and Disclaimer Statement from seller unless exempt.

22. WETLANDS NOTICE:

Buyer is advised that if all or a portion of the Property is wetlands, special approvals and restrictions may apply.

23. GUARANTY FUND. NOTICE TO BUYER:

The Buyer is protected by the real estate Guaranty Fund of the Maryland Real Estate Commission for losses covered by law.

24. HOME AND/OR ENVIRONMENTAL INSPECTION:

Buyer acknowledges the opportunity to condition purchase upon a Home Inspection and/or Environmental Inspection.

Addenda Attached Inspections Declined

25. RENOVATION, REPAIR AND PAINTING OF PROPERTY:

Buyer and Seller acknowledge that they have read and understand the provisions of this Section.

26. CRITICAL AREAS ADDENDUM:

Buyer is advised that all or a portion of the property may be located in the Critical Area of the Chesapeake and Atlantic Coastal Bays.

27. NOTICE TO THE PARTIES:

Brokers and agents do not assume responsibility for the condition of the Property or performance of the Contract beyond express representations.

28. PROPERTY TAX NOTICE 60 DAY APPEAL:

If any real property is transferred after January 1 and before the next taxable year, the new owner may submit a written appeal within 60 days.

28. DEPOSIT:

Buyer directs broker to hold the initial deposit instrument until the Contract is accepted. Select one:

A non interest-bearing account.

OR

An interest-bearing account, the interest on which, in absence of default by Buyer, shall accrue to the benefit of Buyer.

Seller's address

Buyer's address

Seller's address

Buyer's address

Seller's telephone number

Buyer's telephone number

Seller's facsimile number

Buyer's facsimile number

Seller's email address

Buyer's email address