6145 Castlewood Ln, Colorado Springs, CO 80918

Property description

4.6. Assumption. Buyer agrees to assume and pay an existing loan in the approximate amount of the Assumption Balance 198 set forth in § 4.1. (Price and Terms), presently payable at $ per including principal and interest 199 presently at the rate of ________% per annum and also including escrow for the following as indicated: Real Estate Taxes 200 Property Insurance Premium Mortgage Insurance Premium and . 201 Buyer agrees to pay a loan transfer fee not to exceed $_____________. At the time of assumption, the new interest rate will 202 not exceed ________% per annum and the new payment will not exceed $_____________ per ________________ principal and 203 interest, plus escrow, if any. If the actual principal balance of the existing loan at Closing is less than the Assumption Balance, which 204 causes the amount of cash required from Buyer at Closing to be increased by more than $_____________, or if any other terms or 205 provisions of the loan change, Buyer has the Right to Terminate under § 24.1. on or before Closing Date. 206 Seller Will Will Not be released from liability on said loan. If applicable, compliance with the requirements for release 207 from liability will be evidenced by delivery on or before Loan Transfer Approval Deadline at Closing of an appropriate 208 letter of commitment from lender. Any cost payable for release of liability will be paid by in an amount 209 not to exceed $_____________. 210 This Contract terminates if written consent from Seller’s lender for Buyer’s assumption of Seller’s existing loan is not received 211 by all parties and the Closing Company on or before Closing.

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