CONTRACT CONCERNING THE PROPERTY AT:
(Address of Property)
Contract to which this Addendum is attached (the "Back-Up
Contract") is binding upon execution by the parties, and the
earnest money and any Option Fee must be paid as provided in the
Back-Up Contract. The Back-Up Contract is contingent upon the
termination of a previous contract (the "First Contract")
between Seller and
______________________, 20____, for the sale of Property. Except
as provided by this Addendum, neither party is required to
perform under the Back-Up Contract while it is contingent upon
the First Contract.
B. If the
First Contract terminates on or before 5:00 p.m. on
______________________, 20____, (the "Contingency Date"), the
Back-Up Contract will no longer be contingent upon the
termination of the First Contract. Seller must notify Purchaser
immediately of the termination of the First Contract. For
purposes of performance, the effective date of the Back-Up
Contract will be deemed to be the date Purchaser receives notice
of termination of the First Contract or the Contingency Date,
whichever is earlier.
C. If the
First Contract does not terminate by the Contingency Date, the
Back-Up Contract terminates and the earnest money will be
refunded to Purchaser.
amendment or modification of the First Contract will not
terminate the First Contract.
Purchaser has the unrestricted right to terminate the Back-Up
Contract, the time for giving notice of termination begins on
the effective date of the Back-Up Contract, continues through
the deemed effective date of the Back-Up Contract and ends upon
the expiration of Purchaser’s unrestricted right to terminate
the Back-Up Contract.
purposes of this Addendum, time is of the essence. Strict
compliance with the times for performance stated herein is
To Download the TREC BACK UP CONTRACT Please Click Here