Real Estate Sale Contract Template (Page 4 of 4) in pdf

6. At the election of Seller or Purchaser upon notice to the other party not less than 5 days prior to the time of closing, this sale shall

be closed through an escrow with Fidelity National Title Insurance Company, in accordance with the general provisions of the usual form of

Deed and Money Escrow Agreement then in use by

Fidelity National Title Insurace Company, with such special provisions inserted in the

escrow agreement as may be required to conform with this contract. Upon the creation of such an escrow, anything herein to the

contrary notwithstanding, payment of purchase price and delivery of deed shall be made through the escrow and this contract and the

earnest money shall be deposited in the escrow. The cost of the escrow shall be divided equally between Seller and Purchaser.

(Strike

paragraph if inapplicable.)

7. Time is of the essence of this contract.

8. All notices herein required shall be in writing and shall be served on the parties at the addresses following their signatures. The

mailing of a notice by registered or certified mail, return receipt requested, shall be sufficient service.

9. Purchaser and Seller hereby agree to make all disclosures and do all things necessary to comply with the applicable provisions of

the Real Estate Settlement Procedures Act of 1974, the Residential Property

Disclousure Act of Illinois, and the Residential Lead-

Based Paint Hazard Reduction Act of 1992. In the event that either party shall fail to make appropriate disclosure when

asked, such

failure shall be considered a breach on the part of said party.

10. Alternative 1:

Seller represents that he is not a "foreign person" as defined in Section 1445 of the Internal Revenue Code and is therefore

exempt from the withholding requirements of said Section. Seller will furnish Purchaser at closing the Exemption Certification set

forth in said Section.

Alternative 2:

Purchaser represents that the transaction is exempt from the withholding requirements of Section 1445 of the Internal

Revenue Code because Purchaser intends to use the subject real estate as a qualifying residence under said Section and the sales price

does not exceed $300,000.

Alternative 3:

With respect to Section 1445 of the Internal Revenue Code, the parties agree as follows:

(Strike two of the three alternatives.)

Real Estate Sale Contract Template Page 4