Addendum No. __

This document shall serve as Addendum No. ______to the Residential Purchase and Sale Agreement, dated ______, 20__, (the “Agreement”), concerning real property and improvements, located at the address of , County of ______, state of , bearing Assessor Parcel Number (the “Property”), in which , is referred to as the “Seller”, and is referred to as the “Buyer”.

The followingshall be incorporated into and made an essential part of the Agreement:

  1. Buyer acknowledges that Seller is not the current legal owner of the Property. Simultaneously or immediately prior to entering into the Agreement, the Seller entered into a separate purchase agreement with a third party who is the legal owner of the Property to purchase the Property from said third party. Buyer acknowledges that Seller has entered into the separate purchase agreement whereby Seller will purchase the Property from the third party for purchase price that is less than what Seller has agreed to sell the Property to Buyer in the Agreement.
  2. Buyer acknowledges and agrees that the enforceability of the Agreement is contingent and conditioned upon Seller purchasing the Property from the third party who is the current legal owner of the Property. In the event that Seller does not purchase the Property from the third party who the current legal owner, Seller may terminate the Agreement at no cost to Seller.
  3. In the event Seller terminates the Agreementper section 1a of this Addendum No. , the (i) Buyer shall release Seller from any and all liability and claims which Buyer could assert against Seller in connection with the Agreement or the Property, and (ii) Seller shall have no legal or contractual obligation owed to the Buyer.
  1. The Buyer agrees and acknowledges that the Buyer is a sophisticated real estate investor and that the Buyer is agreeing to purchase the Property based solely and exclusively on the Buyer’s own due diligence. Buyer acknowledges that any information shared or provided to Buyer by Seller that is not otherwise required by State and/or Federal Law, including but not limited to (if applicable): repair value of the Property, repair costs for the Property, fair market value of the Property, comparable sales data relating to the Property, etc., are all internal estimates and approximations by the Seller, and that the Buyer has not and shall not rely upon any of that information in connection with Buyer’s decision to purchase the Property. The Seller does not warrant any of the foregoing information.

The terms set forth above in this Addendum No. _____ apply to and form a part of the Agreement and shall supersede and replace any differing terms contained in the Agreement. Any differing terms contained in the Agreement shall have no force or effect and shall not constitute any part of the Agreement between the parties. All other terms in the Agreement not affected by this Addendum No. _____ shall remain in full force and effect.

The undersigned Buyers hereby acknowledge and accept the above Addendum No. _____.

Dated: 20__

Seller:Buyer:

By:By: