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“Substantive Best Practices” Best Practices in Consumer Practice – Real Estate Click on any item to view associated materials Biographies of Speakers Valerie M. Carr, Esquire, Carr Law, LLC William Schab, Esquire, Schab & Barnett, P.A. Andrew P. Taylor, Esquire, Cooch and Taylor, P.A. Program Materials * Program Materials * The forms included herein are samples only and may not be appropriate for any particular matter. 1

“Substantive Best Practices” Best Practices in Consumer …media.dsba.org/PreAdmitMaterials/30-Best Practices-Re… ·  · 2016-11-07“Substantive Best Practices” Best Practices

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“Substantive Best Practices” Best Practices in Consumer Practice – Real Estate

Click on any item to view associated materials Biographies of Speakers

Valerie M. Carr, Esquire, Carr Law, LLC William Schab, Esquire, Schab & Barnett, P.A. Andrew P. Taylor, Esquire, Cooch and Taylor, P.A.

Program Materials *

Program Materials

* The forms included herein are samples only and may not be appropriate for any particular matter.

1

Valerie M. Carr Valerie M. Carr, Esquire is an attorney in private practice, opening her own practice, Carr

Law, LLC, in December 2015. She works primarily in New Castle County. Licensed in 2001, she received her Bachelor of Arts degree from the University of Delaware and her law degree from Villanova University School of Law. Ms. Carr focuses her practice on Residential Real Estate, Estate planning, and probate administration. She is the immediate former Chair of the Real and Personal Property Section of the DSBA. Additionally, she is a member of the Estates & Trusts Section and the Estate Administration Subcommittee of the Delaware State Bar Association (DSBA). Valerie was instrumental in bringing the “Wills for Heros” Program to Delaware, a program designed to offer free basic estate planning documents to Police, Firefighters, and other first responders.

BIOGRAPHICAL SKETCH

ANDREW P. TAYLOR, ESQ.

Cooch and Taylor

[email protected] (302) 984-3812(w) (302) 598-4412(c)

Mr. Taylor is a director Attorney with the firm of Cooch and Taylor. He is a

graduate of The Dickinson School of Law and the University of Delaware. He is admitted to

practice in Delaware and Pennsylvania. He was the 1994-96 Chairman of the Real and Personal

Property Section of the Delaware State Bar Association. For the years 1987-2014, Mr. Taylor has

been named in Woodward/White's Directory as one of the Best Lawyers in America in the Real

Estate field. He has been recognized by Martindale-Hubbell with their top rating of AV. In 1991

he was a consultant to the Delaware Human Relations Commission responsible for re-writing

Delaware's Fair Housing Act and Regulations enacted in 1992. He is the Legal Counsel for the

Delaware Association of REALTORS7 and The New Castle County Board of REALTORS7. He

is a Corporator and Director of Artisans' Bank and a past President of the Board of Trustees of The

Independence School. He is an assistant Scoutmaster for Boy Scout Troop 2 and a mentor in

aluminum welding for the FIRST MOE365 robotics team. He is also a former board member and

current volunteer for Family Promise of Northern New Castle County, Inc. providing housing and

services for homeless families. Mr. Taylor is a member of St. James Episcopal Church and the

Committee of 100. He also lectures and teaches extensively to real estate brokers and salespeople

in the field of Real Estate Law and in 1994 was the recipient of the Education Award from the

New Castle County Board of Realtors®. Mr. Taylor was an expert witness in the Mid-Atlantic

Settlement Services case before the Board on the Unauthorized Practice of Law of the Supreme

Court of the State of Delaware.

Primarily responsible for drafting the following legislation or regulations:

1. Delaware’s original agency disclosure statute.

2. Psychologically Impacted Properties section, 1991

3. Buyer Property Protection Act and Seller’s Disclosure of Real Property Condition Report Form.

4. Delaware Fair Housing Act 1992.

5. Delaware Agency statute, 2007 and Consumer Information Statements.

6. Amendments to Delaware Agency Statute 2008.

7. Provided substantial comments to DeREC for revisions to Seller’s Disclosure form. 2008

8. Provided comments to re-write of Delaware Landlord Tenant Code.

9. Substantial assistance on revisions to Licensing Act Real Estate Brokers 2008-11

10. Assisted with amendments to DUCIOA 09 &10 & drafted Resale Certification Form 2009

11. Statute prohibiting Private Transfer Fees in DE. 2010

12. Assisted with revisions to DeREC Rules & Regs. and education rules 2011-2012

13. Assisted with revisions to CIS forms 2011-2012

14. Commercial Broker’s Lien Statute 2013

C:\MyFiles\Teaching\Biographical Sketch 13.doc

Pre-Admission ConferenceBest Practices in Consumer Practice – Real Estate

Table of Contents

1. Bio Andrew P. Taylor

2. Bio Valerie M. Carr

3. Table of Contents

4. Copyright Notice re Agreement of Sale Forms

5. Agreement of Sale Residential

6. Agreement of Sale Unimproved Land

7. Seller Mortgage Information

8. Must Sell Addendum

9. Short Sale Addendum

10. DUCIOA Resale Certification

11. DeREC Property Disclosure – effective 01/01/11

12. DeREC New Construction Property Disclosure - effective 01/01/11

13. Radon Disclosure 9/12/07

14. Radon Brochure

15. DeREC Property Disclosure Exemption Form

16. Listing Agreement Fillable 8/2/13

17. Short Sale Addendum to Listing Agreement Fillable

18. Contract Provisions from DE law 2011

Notice regarding use of forms from the Delaware Association of Realtors®.

The attached form of Agreement of Sale and other forms are the property of the Delaware Association of Realtors®. They are used for this class for educational purposes. These forms are protected by copyright laws. You may not use it for your own use unless you are a member of the New Castle County Board of Realtors®, the Kent County Association of Realtors®, or the Sussex County Association of Realtors®. As a Delaware attorney, you may join your local Realtors® association as an affiliate member. You could then use these forms for your clients.

By the way, the Board also is interested in knowing the names of lawyers interested in teaching real estate classes at the Board. Perhaps you have an idea for a 3 hour continuing education class to develop and teach at the Board.

Please also note that the 2009 forms are being revised with forms to go into effect in October. You can check the website of the Delaware Association of Realtors for the latest forms.

Thank you for respecting copyright laws.

1

©Copyright 2008 by Delaware Association of REALTORS®. All Rights Reserved. August 6, 2009. This form has been created exclusively for the use of the association members and thosewith written permission. The use of this form for any transaction that does not involve the participation of an association member is strictly prohibited and is in violation of FederalCopyright laws.

AGREEMENT OF SALE for DELAWARE RESIDENTIAL PROPERTY This is a legally binding agreement; if not understood, seek competent legal advice prior to signing.

THIS FORM IS DESIGNED AND INTENDED FOR THE SALE AND PURCHASE OF RESIDENTIAL REAL ESTATE LOCATED IN THE STATE OF DELAWARE

1. PARTIES. SELLER: ________________________________________________________________________________________ Address:____________________________________________________________________________________________ BUYER: _________________________________________________________________________________________ Address:____________________________________________________________________________________________ 2. PROPERTY. Buyer hereby agrees to purchase from Seller and Seller agrees to convey to Buyer that Property identified as TAX PARCEL # ___________________________________________________________________________ being situated in ______________________________County, Delaware and further identified as: _________________________________________________________________________________ _________________________________________________________________________________ 3. PAYMENT TERMS. A. PURCHASE PRICE $_____________________ To be paid as follows: B. DEPOSIT UPON SIGNING THIS AGREEMENT $_____________________; In the form of � Check � Cash � Other ___________________ C. ADDL. DEPOSIT DUE WITHIN __________ DAYS OF ACCEPTANCE $_____________________; D. BALANCE OF PURCHASE PRICE (A minus B & C) (Loan Balance, if any, plus remaining Down Payment) $_____________________ All sums deposited by Buyer prior to the time of final settlement shall be placed in a non-interest bearing escrow account with Listing Broker ("Escrow Broker") unless otherwise specified in this Agreement. Any funds delivered to the Escrow Broker within 15 calendar days of settlement shall be certified funds. Funds paid by Buyer at settlement shall be in cash, certified check, cashiers check, treasurer’s check, wire transfer or a Delaware attorney’s escrow check. Seller's net proceeds shall be paid by check from the settling attorney's escrow account unless other arrangements are made with the attorney. 4. INCLUSIONS/ EXCLUSIONS. Unless specifically excluded by this Agreement the purchase price shall also include the following, as and if now installed, stored in, or located on the Property: all presently existing plumbing, heating, electrical and central air conditioning systems; and all other permanent or attached fixtures including but not limited to, all existing shutters, awnings, wall to wall carpeting, radiator covers, cabinets, shelves, mirrors fixed in place, attic/exhaust fans, lighting and plumbing fixtures, and landscaping. Certain other now existing items which may be considered personal property, whether installed or stored upon the Property, are included, as follows: (If neither column is checked, item shall be considered excluded. Should the Sellers Disclosure of Real Property Condition Report differ from the below list of included items, the below list shall supersede):

YES NO YES NO YES NO � � Oven or Range � � Cooktop � � Wall Oven(s) #___ � � Refrigerator(s) #___ � � with icemaker � � Freezer � � Dishwasher � � Disposal � � Microwave � � Washer � � Clothes Dryer � � Bathroom Vents/Fans � � Trash Compactor � � Water Conditioner (owned) � � Water Conditioner (leased) � � Water Filter � � Water Heater � � Sump Pump � � Storm Windows/Doors � � Screens � � Furnace Humidifier � � Furnace De-Humidifier

� � Window A/C Units #_____ � � Smoke Detectors � � Fireplace Equipment � � Fireplace Screen/Doors � � Electronic Air Filter � � Attic fan � � Whole house fan � � Window Fan(s) #_____ � � Ceiling Fan(s) #_____ � � Central Vacuum � � with attachments � � Intercoms � � Solar Equipment � � Attached Antenna/Rotor � � Range Hood-exhaust fan � � Garage Opener(s) #_______ � � with remote(s) #_______ � � Pool Equipment � � Pool cover � � Hot Tub, Equipment � � with cover

� � Draperies/Curtains � � Drapery/Curtain rods � � Shades/Blinds � � Cornices/Valances � � Sheds/Outbuildings #____ � � Playground Equipment � � Wood Stove � � Satellite Dish � � with controls & Remote(s) � � Fuel Storage Tank(s) (owned) � � Fuel Storage Tank(s) (leased) � � Security Systems (owned) � � Security Systems (leased) � � Fire detecting equip (owned) � � Fire detecting equip (leased) Other Items Included/Excluded � � ______________________ � �_______________________ � � ______________________

Seller's Initials _____ _____ Buyer's Initials _____ _____

2

©Copyright 2008 by Delaware Association of REALTORS®. All Rights Reserved. August 6, 2009. This form has been created exclusively for the use of the association members and thosewith written permission. The use of this form for any transaction that does not involve the participation of an association member is strictly prohibited and is in violation of Federal Copyright laws.

ADDITIONAL INCLUSIONS (Specify):___________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________

ADDITIONAL EXCLUSIONS (Specify):___________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________

All property sold by this Agreement is called the “Property”. No items shall be replaced or substituted without prior written approval of all parties. 5. RENTAL/ LEASE. The Property � is � is not subject to an existing rental/leasing agreement. Seller will not alter any existing agreement nor enter into any new lease agreement without Buyer's written consent, and will assign all existing leases and transfer security deposits to Buyer at final settlement. 6. � Yes � No FINANCING CONTINGENCY. (a) Buyer’s obligation to purchase the Property shall be contingent on Buyer’s ability to obtain mortgage financing pursuant to the terms set forth below. Each of the terms below as applicable shall be deemed essential to this financing contingency and Buyer shall not make application for any mortgage financing the terms of which would differ or deviate from the requirements set forth below that would be adverse to Seller’s interest without Seller’s express prior written consent. The Interest rate shall be at the prevailing rate. Should, after Buyer makes application consistent with the terms set forth below, and has diligently and in good faith pursued that application, any commitment for mortgage financing that may be issued deviate from one or more of such terms, and Buyer elects not to accept the financing thus offered, or the application is denied, Buyer may, at Buyer’s sole election, void this Agreement, in which event all deposits will be returned to buyer. The terms of mortgage financing are the following: Type of financing: ____________________________ Loan Amount: __________________________________ Term in years: ____________________________ Maximum loan to value ratio:_______________________

Final date for receipt of mortgage commitment (the “Commitment Date”): ______________________________________

(b) Buyer will make written application in a manner consistent with that provided for above within _____________ calendar days of the effective date of this Agreement, and shall use their best efforts and diligently pursue such financing and promptly file any supplemental information, papers and/or other material that may be requested or required from time to time by the lender. If Buyer fails to make application as specified above, then Seller may declare Buyer in default of this Agreement by tendering written notice of that election to Buyer at any time prior to Buyer making application consistent with the terms set forth above. Should Seller elect to declare Buyer in default before such application is completed, Seller shall have available all the remedies set forth in this Agreement. (c) Buyer shall provide Seller, or Seller’s Designated Agent, with a copy of any loan commitment or denial within 3 calendar days of receipt. If a commitment consistent with the terms set forth above, or one that differs from those terms which is nonetheless acceptable to Buyer, is obtained and said commitment (1) imposes financial obligations upon the Seller which the Seller has not previously agreed to pay, and does not then agree to pay, and/or (2) is contingent upon the sale of any real or personal property owned by Buyer, then Seller may within 5 calendar days after receipt of a copy of the commitment, cancel this Agreement in writing, and all deposit money shall then be returned to Buyer in accordance with provisions of this Agreement. If such notice is not given, Seller shall be deemed to have accepted said condition(s). (d) If a written mortgage commitment is not obtained by the Commitment Date, Seller shall from that time forward have the right to void this Agreement by tendering written notice of that election to Buyer or Buyer’s Designated Agent provided, however, that if written mortgage commitment is received after the Commitment Date and prior to any such written notice of termination, then this Agreement shall remain in full force and effect, and Seller’s right to void this Agreement for failure to meet the Commitment Date shall be deemed waived. If Seller elects to terminate as set forth in this paragraph, and Buyer is not then otherwise in default of the terms of this Agreement, all deposit money shall be returned to Buyer in accordance with the terms of this Agreement. If Buyer at that time claims that the mortgage application resulted in a denial of that application, and has not provided a copy of that denial in a timely fashion as set forth in paragraph (c) above, the failure to provide a copy of that denial as required herein shall be deemed a default by the Buyer. 7. SETTLEMENT. Unless otherwise mutually agreed, final settlement shall be held in ___________ County, Delaware on__________________________________, or before if mutually agreed upon, at which time possession shall be given and Seller shall deliver all keys in Seller’s possession or under Seller’s control. It is expressly agreed if a longer time is necessary to secure a survey, or to prepare the necessary legal and financial settlement documents, the date of settlement shall be extended for a reasonable time to effect these conditions.

Seller's Initials _____ _____ Buyer's Initials _____ _____

3

©Copyright 2008 by Delaware Association of REALTORS®. All Rights Reserved. August 6, 2009. This form has been created exclusively for the use of the association members and thosewith written permission. The use of this form for any transaction that does not involve the participation of an association member is strictly prohibited and is in violation of Federal Copyright laws.

8. TIME IS OF THE ESSENCE. Other than those limited conditions related to settlement as noted in Paragraph 7 above, time is of the essence in this Agreement. Time is of the essence means that the dates and time frames agreed by the parties must be met. Failure to meet stated dates or time frames may result in waiver of contractual rights or default under the terms of this Agreement. 9. CONVEYANCE. The Seller acknowledges that the Property is to be conveyed (check one) � IN FEE SIMPLE; � CO-OPOWNERSHIP; or � LEASEHOLD SUBJECT TO AN ANNUAL GROUND RENT, presently in the amount of $ ______

10. DISBURSEMENT OF DEPOSITS. The parties to this Agreement agree that deposit monies held on account as specified herein shall only be disbursed under one of the following conditions: A. Upon final settlement hereunder; OR

B. Upon a release being signed by all parties to the transaction authorizing disposition of these funds; OR C. Upon the filing of an interpleader action in the proper court, thereby causing these funds to be deposited with the

court; OR D. At such time as one of the parties to the transaction files suit and the court orders the disbursement of these funds.

Buyer and Seller agree that upon payment of deposit monies into court, neither Buyer nor Seller shall have any further right, claim, demand or action against Escrow Broker regarding the return or disposition of the deposit monies.

11. TRANSFER TAXES; PRO-RATIONS; HEATING FUEL. Applicable transfer taxes, transfer fees, and/or motor vehicle document fees shall be paid one-half by Buyer and one-half by Seller, except that any exemptions shall benefit only the exempt party. Taxes, special assessments, ground rent, water, sewer, electric and other lienable charges imposed by the State of Delaware, any political subdivision thereof, any school district, neighborhood association and/or condominium common expenses shall be apportioned pro-rata at the time of final settlement, as shall the rents and pre-paid operating expenses if Property is sold subject to a lease, and all security deposits shall be delivered to Buyer at time of settlement. Buyer shall pay Seller at settlement for any heating fuel purchased by Seller and left on Property. Buyer is advised that some propane tanks located on residential properties are leased and ownership of the tank may not be transferred to Buyer as part of this agreement.

� Seller � Buyer shall pay for deed preparation. Buyer shall pay all other customary settlement charges and lending costs including survey. 12. TITLE. Title is to be good and marketable either fee simple absolute conveyed by Deed of Special Warranty or Lease-hold Estate conveyed by assignment of the existing lease, as applicable, insurable for both owners and lenders coverage at regular rates by a title insurer duly licensed to issue title insurance in the State of Delaware, clear of any liens and encumbrances, except restrictions of record and existing easements generally applicable to properties in the immediate neighborhood or the subdivision in which the Property is located. Title shall also be delivered without encroachments or violations of restrictions, zoning or subdivision regulations unless disclosed by Seller on the Seller’s Disclosure of Real Property Condition Report. If title objections are raised, Seller shall have 30 days from the date Seller is notified to cure the same, and the settlement date shall be extended accordingly. If objections are not satisfied by the extended settlement date, this Agreement shall terminate and all deposit monies shall be refunded to Buyer and all reasonable legal, loan, survey, and inspection fees incurred by Buyer will be paid by Seller, unless Buyer elects to waive the unsatisfied objections and complete the purchase. Seller may use the purchase price payable to Seller at settlement to discharge liens and encumbrances of record in fixed and ascertainable amounts.

13. NOTICE/DELIVERY OF DOCUMENTS. In this paragraph, the word “Agreement” includes offers, counteroffers, addenda or any other notice or agreement between the parties. All agreements shall be in writing. Verbal or written communication between the parties or the parties’ Designated Agents that this Agreement has been signed and ratified shall be binding on all parties and such verbal notice shall constitute delivery. Written communication shall be effective when sent. A facsimile, electronic record with electronic signature or photocopy of a signed Agreement shall constitute an original. Buyer or Seller, if there be more than one, expressly agree that notice to one shall be notice to all. 14. NO RECORDING. This Agreement shall not be recorded or filed in any place of public record. If Buyer does record this Agreement, or permit this Agreement to be recorded, Seller may elect to treat such act as a default and have all the remedies provided herein. 15. FAIR HOUSING. All Parties agree to comply with all Fair Housing and Civil Rights laws in the purchase and sale of the Property and further agree specifically not to discriminate against any person because of RACE, COLOR, NATIONAL ORIGIN, RELIGION, CREED, SEX, MARITAL STATUS, FAMILIAL STATUS, AGE, SEXUAL ORIENTATION and/OR HANDICAP/DISABILITY.

16. FIRPTA. Section 1445 of the United States Internal Revenue Code of 1986 provides that a Buyer of residential real property located in the United States must withhold federal income taxes from the payment of the purchase price if; (a) the purchase price exceeds three hundred thousand dollars ($300,000.00); and (b) the Seller is a foreign person. Unless otherwise stated in an addendum attached hereto, if the purchase price is in excess of three hundred thousand dollars ($300,000.00), Seller represents that Seller is not a nonresident alien, foreign corporation, foreign partnership, foreign trust or foreign estate (as those are defined by the Internal Revenue Code and applicable regulations) and agrees to execute an affidavit to this effect at time of settlement.

Seller's Initials _____ _____ Buyer's Initials _____ _____

4

©Copyright 2008 by Delaware Association of REALTORS®. All Rights Reserved. August 6, 2009. This form has been created exclusively for the use of the association members and thosewith written permission. The use of this form for any transaction that does not involve the participation of an association member is strictly prohibited and is in violation of Federal Copyright laws.

17. HOMEOWNERS WARRANTY. Buyer and Seller are advised that Homeowners Warranties are available. A Homeowners Warranty is only part of this Agreement if Buyer or Seller agrees to purchase a warranty. Buyer and Seller are advised to request information about what is included in the warranty and what is excluded (for example, preexisting conditions) and the amount of the deductible. 18. RISK OF LOSS. The risk of loss or damage to the Property by fire, wind storm or other casualty until settlement shall be borne by Seller. If any part of the property is damaged or destroyed by fire or other casualty loss, Seller shall restore the same to its previous condition as soon as reasonably possible, but in any event by settlement date. If Seller is unable to do so, Buyer may terminate this Agreement and the deposit monies shall be refunded to Buyer in accordance with the terms of this Agreement. 19. CONDITION OF PROPERTY; INSPECTIONS. Seller shall deliver the Property in substantially the same physical condition as of the date of this Agreement unless repairs are agreed to as part of the inspection processes explained in paragraphs 20, 21 and 22. However, the electrical, plumbing, wastewater/septic system, well, heating, air conditioning, and any other electro-mechanical systems, appliances and equipment included in this Agreement shall be in operating condition at time of final settlement unless otherwise disclosed in the Seller’s Disclosure of Real Property Condition Report Form or elsewhere in this Agreement of Sale. Seller’s responsibility for these items shall expire at the time of settlement. Seller shall not be obligated to repair any defects fully disclosed in the Seller’s Disclosure of Real Property Condition Report or defects otherwise accepted by Buyer in this Agreement or as a result of the inspections. However, specific actions required by this Agreement, or agreed to by addendum resulting from the inspections, such as “repair defective electric outlet in the kitchen,” will remain part of this Agreement. Any failures of the Property occurring between the time of final acceptance and settlement shall be repaired by Seller, at Seller’s expense, prior to settlement. Seller is responsible for insuring that utilities are turned on during inspections, appraisals and pre-settlement inspection. Seller agrees to permit access to Property by any authorized appraiser, inspector or contractor as required by the lender or by other terms of this Agreement. Property shall be "broom clean" and free of debris at time of final settlement or occupancy (whichever occurs first). Buyer shall have the responsibility of scheduling a pre-settlement inspection of Property within 48 hours prior to settlement to verify that Property is in the condition required by this Agreement including conditions disclosed and accepted by Buyer elsewhere in this Agreement or by addendum. Except as expressly contained herein, no other warranties or representations have been made by Seller or relied upon by the Buyer, and upon settlement all the Seller’s obligations for condition of the Property under this Agreement shall expire. It is understood and agreed by the parties hereto the Broker(s)/Salesperson(s) assumes no responsibility for defects concerning the physical condition of the Property described herein and all improvements thereon. Buyer represents that they have made a satisfactory inspection of the Property and agrees to accept the Property in its present condition except as otherwise provided in this Agreement.

20. INCLUDED CLAUSES. The following clauses are included in this Agreement only if marked "yes" or checked. They permit Buyer to obtain an inspection of specific items. The purpose of any inspection is to independently evaluate the condition of the items and identify major defects, if any. A major defect is any deficiency in an item that causes the item to perform in an unsafe manner or that prevents the item from performing its intended function. Buyer must object to any major defect identified by an inspection report by the date the report is due to Seller as listed below, or Buyer is deemed to have accepted Property with the defect and the contingency is automatically considered to be satisfied. If this Agreement is cancelled as a result of the election of any of the options below, all parties agree to immediately execute the proper documentation to acknowledge termination of this Agreement of Sale. There shall then be no further obligation or liability of either party, broker or salespeople, and all monies on deposit shall be returned to Buyer in accordance with the terms of this Agreement. Buyer and Seller agree that Broker(s)/Agent(s) does not guarantee, and will not be held responsible for, any person or company performing the inspection or correction of any condition pursuant to the terms of this Agreement and will not be responsible for the selection of any person or company chosen to perform an inspection or correct any condition.

PROCEDURES FOR INCLUDED CLAUSES 20a THROUGH 20d The following contingencies become part of this Agreement only if marked yes or checked. Each included contingency is subject to the terms and remedies described herein.

20a. _______On-Site Wastewater/Septic Contingency. Buyer may have the on-site wastewater/septic system inspected by a Class H system inspector (see list at www.dnrec.delaware.gov) of Buyer's choice, at Buyer's expense, to verify that the on-site wastewater/septic system is in working order with no major defects. Buyer must provide Seller with a copy of the written report describing any major defect. Report of major defects, if any, is due to Seller by____________________________________________________ (date). 20b. ________ Well Water Contingency. Buyer may have the water inspected by a water testing company of Buyer's choice, at Buyer's expense, to verify that the well is in working order with no major defects, and there is an absence of total coliform bacteria, and meets EPA standards for nitrate, chloride, and lead. Buyer must provide Seller with a copy of the written report describing any major defect. Report of major defects, if any, due to Seller by ______________________________________________________ (date) 20c. ________ Radon Contingency. Buyer may have Property inspected by a registered radon service company of Buyer's choice, at Buyer's expense, to verify that the average radon level is less than 4 picocuries/liter. Buyer must provide Seller with a copy of the written report containing any evidence of higher radon levels than herein stated. Report of major defects, if any, due to Seller by _____________________________________________________(date).

Seller's Initials _____ _____ Buyer's Initials _____ _____

5

©Copyright 2008 by Delaware Association of REALTORS®. All Rights Reserved. August 6, 2009. This form has been created exclusively for the use of the association members and thosewith written permission. The use of this form for any transaction that does not involve the participation of an association member is strictly prohibited and is in violation of Federal Copyright laws.

20d. ________ Swimming Pool Contingency. Buyer may have the swimming pool inspected by a pool maintenance company of Buyer's choice, at Buyer's expense, to verify that the pool & equipment are in working order with no major defects. Buyer must provide Seller with a copy of the written report describing any major defect. Report of major defects, if any, is due to Seller by ___________________________________________________(date).

SELLER’S DUTIES. If Buyer provides timely written notice of a major defect of the above selected items, then Seller shall notify Buyer, within 5 calendar days of Seller's receipt of Buyer's notice, whether Seller (a): intends to correct the major defect(s) at Seller's sole cost prior to settlement, (b): refuses to correct any of the major defects, or (c): offers to negotiate with Buyer about the major defects with such negotiations to be completed within 5 additional calendar days. If the negotiations are not completed in the time specified above or Seller fails to provide written notification, then this shall mean that Seller has refused to correct the major defect.

BUYER'S DUTIES. If Seller has refused to correct the major defect or a negotiated agreement to correct major defects is not agreed to, then Buyer must notify Seller in writing within 5 calendar days of receiving Seller's notice whether Buyer will (a): accept Property with the defect and no reduction of price or (b): declare the Agreement null and void with all deposit money being returned to Buyer. Buyer's failure to provide written notice shall result in this Agreement becoming null and void and all deposit money shall be returned to Buyer in accordance with the terms of this Agreement.

21. � Yes � No HOME INSPECTION CONTINGENCY. (If neither is checked, this contingency is waived). Written report of major defects, any subsequent inspections, and request for repairs, if any, due to Seller by

______________________________________ (date).

Written response from Seller due to Buyer by ___________________________________ (date). Written negotiations (if any) to be completed by__________________________________ (date).

Other systems or items to be inspected by the home inspection company___________________________________________

If Buyer is not purchasing a newly constructed home, the Property may have minor problems associated with a previously owned property. A major defect is any deficiency that causes an item to perform in an unsafe manner or that prevents the item from performing its intended function. The inspection shall be limited to the house, attached or detached garage(s), improvements attached to the house or garage(s) and the electrical, plumbing, wastewater/septic system, well, heating, air conditioning, and any other electro-mechanical systems, appliances and equipment included in this sale.

If “Yes” is indicated above, this Agreement is contingent upon Buyer obtaining a home inspection of the Property and written report (the Inspection), by a home inspection company and/or by a licensed contractor/professional of Buyer’s choice at Buyer’s expense. If Buyer does not choose to obtain an Inspection, or if major defects are not reported to the Seller by date specified, then Buyer has waived the Home Inspection contingency. If the home inspection or any subsequent inspection discovers major defects, Buyer shall provide Seller with a written request for repairs and a copy of the relevant portions of the inspection report. Any subsequent inspections necessitated by the initial inspection shall be at the direction and expense of Buyer, (unless requested by Seller for negotiations which shall then be at the direction and expense of Seller), performed by a licensed contractor/professional, and completed within the time frames provided herein. The Broker(s) shall not be responsible for determining the necessity of additional inspections. Buyer and Seller agree that Broker(s) does not guarantee, and will not be held responsible for, any person or company performing the inspection or correction of any condition pursuant to the terms of this Agreement and shall not be responsible for the selection of any person or company chosen to perform an inspection or correct any condition. The request for repairs must be made by the deadline specified. Seller shall then, in writing: (a) Agree to correct any major defects at Seller’s sole cost by a licensed contractor/professional. Such work shall be

completed at least two days prior to settlement and written proof of completion shall be supplied to buyers; OR (b) Refuse to correct the major defects; OR (c) Enter into a mutually agreeable written agreement with Buyer providing for particular repairs to the Property and/or

credit to Buyer at Settlement if this is acceptable to the mortgage lender. If the Seller refuses to correct the major defects, fails to respond in writing to Buyer’s request, or an agreement about such repairs is not negotiated, then Buyer may notify Seller in writing, no later than one day after the date written negotiations are to be completed as specified above, of Buyer’s intent to purchase the Property in its present condition or this Agreement shall be null and void and all deposit money shall be returned to Buyer in accordance with the terms of this Agreement. It is understood that general statements as to the condition of the Property contained in this Agreement, such as “electrical system shall be in working order at the time of settlement,” will not obligate Seller to repair items noted in the Home Inspection Report unless Seller agrees to make repairs according to the terms of the Home Inspection paragraph. Seller will have all items and systems covered by this Inspection operative at the time of inspection (including fuels). Seller shall not be obligated to repair any defects fully disclosed in the Seller’s Disclosure of Real Property Condition Report or defects otherwise accepted by Buyer in this Agreement. However, specific actions required by this Agreement, such as “repair defective electric outlet in the kitchen,” will remain part of this Agreement.

22. � Yes � No WOOD DESTROYING INSECT INSPECTION REPORT. Buyer shall procure, at Buyer's expense (unless prohibited by the type of mortgage financing, in which case it shall be procured by the Buyer at Seller’s expense), a wood destroying insect inspection report (WDI) from a company holding a Pesticide Business License or an individual licensed by the Department of Agriculture as a Commercial Pesticide Applicator (Restricted Use) Category 7B Wood Destroying Pest Control (WDI Inspector).

Seller's Initials _____ _____ Buyer's Initials _____ _____

6

©Copyright 2008 by Delaware Association of REALTORS®. All Rights Reserved. August 6, 2009. This form has been created exclusively for the use of the association members and those with written permission. The use of this form for any transaction that does not involve the participation of an association member is strictly prohibited and is in violation of Federal Copyright laws.

The inspection shall include the house, attached or detached garage, and improvements attached to the house or garage, but not other detached items on the Property, such as (but not limited to) sheds, fences, wood piles, mulch beds, etc., unless such items are specifically listed herein. Buyer shall deliver to Seller a copy of the WDI report no later than __________________________________________________ (date).

(a) If there is no active infestation, prior infestation, prior treatment or damage from infestation, then no further action is needed by either party.

(b) If the report indicates that there is any active infestation, prior infestation, prior treatment or damage from infestation, then Buyer may obtain an inspection to determine if the structural integrity of the property has been impaired and provide an estimate for treatment and repairs. The party who pays for the pest inspection shall pay for the structural inspection (“the first structural report”) and estimate. If the first structural report states that the structural integrity has not been impaired, no repairs by the Seller shall be required.

(c) If the cost to treat and repair damage exceeds 10% of the Purchase Price, Buyer may declare this Agreement null and void, in which case the deposit shall be returned to Buyer in accordance with provisions in this Agreement, and each party shall be relieved of further liability to the other.

(d) If (c) does not apply, then Seller shall have the option of treating the infestation and having any structural impairment corrected by licensed contractors, at Seller’s expense prior to settlement. Seller shall, within 5 calendar days, notify buyer in writing whether or not Seller will exercise its option to do any required work. If Seller elects to do any required work, Seller shall deliver to Buyer a written report prepared by a WDI Inspector/Licensed contractor itemizing the treatment/repairs to be made. After the treatment/repairs have been completed, Seller shall provide Buyer with a written statement from the licensed contractor certifying that the repairs required by the first structural report have been completed and the integrity of those areas is no longer structurally impaired. This report shall be provided by settlement. Buyer may, at Buyer's expense, hire a representative to be at the Property while the Seller’s contractor makes repairs. If Seller elects not to correct or fails to provide written notice within 5 calendar days, Buyer shall have the option of proceeding to settlement without reduction of the purchase price or declaring this agreement null and void in writing and being repaid all deposit money. Written notice of Buyer's election to declare this agreement null and void must be delivered to Seller within 5 calendar days after receiving Seller's written notice or Seller’s failure to give written notice.

(e) If Buyer does not declare this agreement null and void, there shall be no liability of Seller for the infestation or damage, no obligation of Seller to correct, no reduction of the purchase price, no credit to Buyer at settlement for the cost of correction or re-inspection and Buyer shall be responsible for any correction or re-inspection required by Buyer's lender. If this paragraph applies, Buyer purchases the Property in “as is” condition and waives all claims under this paragraph against the Seller, the Broker(s) and Salesperson(s), for any damage to the structure by wood destroying insects. 23. ENVIRONMENTAL CONDITIONS. Buyer is hereby advised that environmental conditions may exist about which Seller has no knowledge including but not limited to: buried fuel tanks, asbestos, radon, lead paint, and urea-formaldehyde foam insulation. Buyer may negotiate with Seller for permission to conduct environmental testing as a term or condition of this Agreement. Any agreement relating to environmental testing must be in writing and signed by both Buyer and Seller. Further information can be obtained from the following agencies: United States Environmental Protection Agency, Washington DC; Radon Health Systems Protection, Dover DE; State of Delaware Department of Health and Social Services, Dover DE; United States Consumer Products, Safety Commission, Washington DC.

24. BUYER’S DEFAULT. If Buyer fails to deliver any payment or additional deposit, fails to make mortgage application as specified herein, knowingly furnishes false or incomplete information to Seller, Broker or the lending institution concerning Buyer’s legal or financial status, fails to cooperate in the processing of the mortgage loan application, resulting in failure to obtain a mortgage financing commitment, or violates or fails to perform any of the terms or conditions of this Agreement, then Seller shall have the right and option to cancel this Agreement and to retain any deposit money as liquidated damages for such default by Buyer, or exercise any legal or equitable right or remedy to which Seller may be entitled and in connection therewith to apply any deposit money either on account of the Purchase Price or on account of damages, as Seller may elect. 25. SELLER’S DEFAULT. If Seller shall, for some reason not excused herein, fail or refuse to perform Seller’s obligation to Buyer, and Buyer shall not also be in default, Buyer shall either have all monies paid herein on account of the Purchase Price, (together with such reasonable costs incurred in preparation for settlement), refunded forthwith, whereupon all rights and obligations herein shall cease and terminate, or Buyer shall have the right to seek any remedy and maintain any action against Seller to which Buyer may be entitled whether at law or in equity. 26. NO REPRESENTATION. Buyer and Seller understand and acknowledge that Broker(s) are not at any time authorized to make any representations about this Agreement or the Property other than those written in this Agreement. Broker(s), Agent(s), Subagents and employees of Broker(s) do not assume any responsibility for the condition of the Property or for the performance of this Agreement by any or all parties hereto. By signing this Agreement, Buyer and Seller acknowledges they have not relied on any representations made by Broker(s) or any Agents, Subagents or employees of Broker(s), except those representations written in this Agreement.

27. INDEMNIFICATION. In the event any dispute arises under this Agreement between Seller and Buyer resulting in Broker(s) or any Agents, or Subagents or employees of Broker(s) being a party to any litigation, Seller or Buyer, whichever is unsuccessful, shall indemnify and hold Broker(s), Agents, Subagents or employees of Broker(s) harmless from any liability, loss, damage, cost, expense, and attorney fees, provided such litigation does not result in a judgment against Broker(s), Agent(s), Subagents or employees of Broker(s) for acting improperly under this Agreement.

Seller's Initials _____ _____ Buyer's Initials _____ _____

7

©Copyright 2008 by Delaware Association of REALTORS®. All Rights Reserved. August 6, 2009. This form has been created exclusively for the use of the association members and thosetwith written permission. The use of this form for any transaction that does not involve the participation of an association member is strictly prohibited and is in violation of Federal Copyright laws.

In the event a dispute arises under this Agreement between Seller and Buyer resulting in any litigation, and/or arbitration, Buyer or Seller, whichever is unsuccessful, shall also be liable for the other parties’ court costs and attorney’s fees. Additionally, should Buyer waive any inspections or provisions in this Agreement of Sale, either as the result of marking the item NO, failing to mark the item YES, or not following through with an inspection, Buyer shall hold Broker(s), Agents, Subagents or employees of Broker(s) harmless from any liability, loss, damage, cost, expense, and attorney fees resulting from Buyer’s waiver of such provision. 28. AGENCY DISCLOSURE. As disclosed in the Consumer Information Statement of the Delaware Real Estate Commission, the parties confirm that the following agency relationships exist:

I. ________, Listing Broker

Seller’s Agent Dual Agent

II. ________, Designated Listing Agent

Seller’s Designated Agent Designated Dual Agent

III. __________________________________ ____, Selling Broker

Buyer’s Agent Dual Agent Seller’s Subagent

IV. ________, Designated Selling Agent

Buyer’s Designated Agent Designated Dual Agent Seller’s Subagent

V. Broker, and ______ Salesperson, are common law agents in which case further agency disclosure is required.

29. SUCCESSION. This Agreement shall benefit and bind the parties hereto, their respective heirs, personal representatives, successors and assigns. Buyer may not assign Buyer's interest in this Agreement without Seller's prior written consent, which consent will not be withheld unless such assignment may adversely affect Seller. 30. BROKERAGE FEE. Buyer and Seller agree that the Broker(s)/Agent(s) was responsible for procuring this Agreement, and agree that a brokerage fee for services rendered as specified in a separate agreement for compensation will be paid. If not previously paid, the settlement attorney is hereby irrevocably authorized and directed to collect the brokerage fee as specified in the separate agreement and pay the same to the Broker at final settlement as a convenience to the parties, and not as a limitation upon Buyer’s or Seller’s liability to pay the brokerage fee. 31. ADDENDUMS. These Addendums are only applicable if marked YES or checked. NO or a blank means you are waiving the opportunity to include the contingency or clause. If language in this Agreement and Addendum(s) are in conflict, unless otherwise provided herein, then the addendum(s) will supersede this Agreement. ____ _ Seller’s Disclosure of Real Property Condition Report, unless exempt by State Law. (Additional form required.) _____ Lead Based Paint Disclosure Form, unless exempt by Federal Law (Additional form required) ______ Radon Disclosure Form, unless exempt by State law (Additional form required) ______ DUCIOA Resale Certification Form (if applicable) (Additional form required) _____ Tax Deferred (1031) Exchange _____ Buyer’s Financial Information _____ Mortgage Letter with Credit Check _____ FHA/VA Amendatory Language and For Your Protection: Get a Home Inspection. (Additional form required) _____ Homeowners Warranty paid for by ____________Warranty Company______________________________________. _____ Additional Addenda not included above_______________________________________________________________

_____ Buyer-Seller Dispute Resolution. NOTE: Pertains to New Castle County Board members only. This is not a condition or contingency of this Agreement and requires a separate attached signed addendum and all parties must agree.

Seller's Initials _____ _____ Buyer's Initials _____ _____

8

©Copyright 2008 by Delaware Association of REALTORS®. All Rights Reserved. August 6, 2009. This form has been created exclusively for the use of the association members and those with written permission. The use of this form for any transaction that does not involve the participation of an association member is strictly prohibited and is in violation of Federal Copyright laws.

32. ADDITIONAL TERMS AND CONDITIONS._______________________________________________________________ ________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________ 33. MISCELLANEOUS. Delaware law governs this Agreement. The paragraph captions are for convenient reference only and are not intended to limit or enlarge the substance of this Agreement. The term Broker(s) when used in this Agreement shall include Broker of Record, Brokerage Organization, Broker Owner, Salesperson(s) and employees involved in this Agreement. The word “Contract” is synonymous with “Agreement” when used herein. The singular forms “Buyer” and “Seller” are used in this Agreement solely as a convenience and are intended to include all parties who are Buyers or Sellers. Buyer and Seller agree that they have read and fully understand this Agreement, including the Seller's Disclosure of Real Property Condition Report (if applicable), that it contains the entire agreement between them and that they do not rely on any other written or oral representation or statement not expressly written in this Agreement, including any statement of fact or opinion contained in any advertisement, listing agreement, multiple listing description or multiple listing information sheet or made by Seller, any broker, salesperson, or any agent or employee of any of them. If settlement does not take place Buyer and Seller shall each be responsible to pay for services ordered on their behalf, unless otherwise provided for herein. The parties hereto agree to execute and deliver any other instrument(s) or document(s) that may be necessary or convenient to carry into effect the provisions of this Agreement, and the parties agree to otherwise cooperate in good faith as may be necessary to complete the settlement contemplated herein. 34. CHANGES. There have been changes in the form of this Agreement as copyrighted by the Delaware Association of REALTORS® other than filling in the blanks. Yes No. If yes, describe changes.

_____________________________________________________________________________________________________

35. ENTIRE AGREEMENT. This Agreement and any addenda hereto contain the final and entire Agreement between the parties and may not be modified or changed except by written agreement signed by all parties. The parties agree that neither they or their Broker(s)/Agent(s) shall be bound by any terms, conditions, statements, warranties nor representations, oral or written, not contained herein. FAILURE TO CHECK OR MARK A BOX “YES” MEANS BUYER HAS WAIVED THE RIGHT TO INCLUDE THE CONTINGENCY OR CLAUSE AS PART OF THIS AGREEMENT. 36. FINAL ACCEPTANCE. This Agreement is not binding until signed by and delivered to all parties. IN WITNESS WHEREOF, the parties have signed this Agreement on the date stated below, thereby showing their intent to be bound hereby. ______________________________ ___________________________________ _______________________________ WITNESS BUYER Date & Time ______________________________ ___________________________________ _______________________________ WITNESS BUYER Date & Time ______________________________ ___________________________________ _______________________________ WITNESS SELLER Date & Time ______________________________ ___________________________________ _______________________________ WITNESS SELLER Date & Time

SELLER HEREBY REJECTS this offer as of

_____________________________ __________________________________ __________________________ WITNESS SELLER DATE AND TIME SELLING BROKER CODE BRANCH OFFICE OFFICE PHONE NUMBER FAX NUMBER SALES ASSOCIATE CODE PHONE NUMBER LISTING BROKER CODE BRANCH OFFICE OFFICE PHONE NUMBER FAX NUMBER SALES ASSOCIATE CODE PHONE NUMBER Deposit received: $__________________� Cash � Check # ____________ Effective/ratification date of Agreement ___________________

1

©Copyright 2007 by Delaware Association of REALTORS®. All Rights Reserved. Last Modified July 22, 2009. This form has been created exclusively for the use of the association members and those with written permission. The use of this form for any transaction that does not involve the participation of an association member is strictly prohibited and is in violation of Federal Copyright laws.

AGREEMENT OF SALE for DELAWARE UNIMPROVED LAND This is a legally binding agreement; if not understood, seek competent legal advice prior to signing.

THIS FORM IS DESIGNED AND INTENDED FOR THE SALE AND PURCHASE OF UNIMPROVED RESIDENTIAL AND/OR AGRICULTURAL REAL ESTATE LOCATED IN THE STATE OF DELAWARE

1. PARTIES. SELLER: ___________________________________________________________________________________________ Address:____________________________________________________________________________________________ BUYER: ____________________________________________________________________________________________ Address:____________________________________________________________________________________________ 2. PROPERTY. Buyer hereby agrees to purchase from Seller and Seller agrees to convey to Buyer that Property identified as TAX PARCEL # ______________________________________________________________________________________ being situated in ______________________________County, Delaware and further identified as: _________________________________________________________________________________ _________________________________________________________________________________ 3. PAYMENT TERMS. A. PURCHASE PRICE $_____________________ To be paid as follows: B. DEPOSIT UPON SIGNING THIS AGREEMENT $_____________________; In the form of � Check � Cash � Other ___________________ C. ADDL. DEPOSIT DUE WITHIN _____________ DAYS OF ACCEPTANCE $_____________________; D. BALANCE OF PURCHASE PRICE (A minus B & C) (Loan Balance, if any, plus remaining Down Payment) $_____________________ All sums deposited by Buyer prior to the time of final settlement shall be placed in a non-interest bearing escrow account with Listing Broker ("Escrow Broker") unless otherwise specified in this Agreement. Any funds delivered to the Escrow Broker within 15 calendar days of settlement shall be certified funds. Funds paid by Buyer at settlement shall be in cash, certified check, cashiers check, treasurer’s check, wire transfer or a Delaware attorney’s escrow check. Seller's net proceeds shall be paid by check from the settling attorney's escrow account unless other arrangements are made with the attorney. 4. RENTAL/ LEASE. This Property � is � is not subject to an existing rental/leasing agreement. Seller will not alter any existing agreement nor enter into any new lease agreement without Buyer's written consent, and will assign all existing leases and transfer security deposits to Buyer at final settlement. If this Property is subject to an agricultural lease, the Buyer is hereby notified that agricultural leases are subject to renewal provisions in accordance with 25 Del. C Chapter 67 Agriculture Leases. The terms of any Agricultural Leases are attached hereto in accordance with 25 Del. C Chapter 3 § 315. 5. � Yes � No FINANCING CONTINGENCY. (a) Buyer’s obligation to purchase the Property shall be contingent on Buyer’s ability to obtain mortgage financing pursuant to the terms set forth below. Each of the terms below as applicable shall be deemed essential to this financing contingency and Buyer shall not make application for any mortgage financing the terms of which would differ or deviate from the requirements set forth below that would be adverse to Seller’s interest without Seller’s express prior written consent. The Interest rate shall be at the prevailing rate. Should, after Buyer makes application consistent with the terms set forth below, and has diligently and in good faith pursued that application, any commitment for mortgage financing that may be issued deviate from one or more of such terms, and Buyer elects not to accept the financing thus offered, or the application is denied, Buyer may, at Buyer’s sole election, void this Agreement, in which event all deposits will be returned to buyer. The terms of mortgage financing are the following: Type of financing: ____________________________ Loan Amount: __________________________________ Term in years: ____________________________ Maximum loan to value ratio:_______________________

Final date for receipt of mortgage commitment (the “Commitment Date”): ______________________________________

(b) Buyer will make written application in a manner consistent with that provided for above within _________ calendar days of the effective date of this Agreement, and shall use their best efforts and diligently pursue such financing and promptly file any supplemental information, papers and/or other material that may be requested or required from time to time by the lender. If Buyer fails to make application as specified above, then Seller may declare Buyer in default of this Agreement by tendering written notice of that election to Buyer at any time prior to Buyer making application consistent with the terms set forth above. Should Seller elect to declare Buyer in default before such application is completed, Seller shall have available all the remedies set forth in this Agreement.

Seller's Initials _____ _____ Buyer's Initials _____ _____

2

©Copyright 2007 by Delaware Association of REALTORS®. All Rights Reserved. Last Modified July 22, 2009. This form has been created exclusively for the use of the association members and those with written permission. The use of this form for any transaction that does not involve the participation of an association member is strictly prohibited and is in violation of Federal Copyright laws.

(c) Buyer shall provide Seller, or Seller’s Designated Agent, with a copy of any loan commitment or denial within 3 calendar days of receipt. If a commitment consistent with the terms set forth above, or one that differs from those terms which is nonetheless acceptable to Buyer, is obtained and said commitment (1) imposes financial obligations upon the Seller which the Seller has not previously agreed to pay, and does not then agree to pay, and/or (2) is contingent upon the sale of any real or personal property owned by Buyer, then Seller may, within 5 calendar days after receipt of a copy of the commitment, cancel this Agreement in writing, and all deposit money shall then be returned to Buyer in accordance with provisions of this Agreement. If such notice is not given, Seller shall be deemed to have accepted said condition(s). (d) If a written mortgage commitment is not obtained by the Commitment Date, Seller shall from that time forward have the right to void this Agreement by tendering written notice of that election to Buyer or Buyer’s Designated Agent provided, however, that if written mortgage commitment is received after the Commitment Date and prior to any such written notice of termination, then this Agreement shall remain in full force and effect, and Seller’s right to void this Agreement for failure to meet the Commitment Date shall be deemed waived. If Seller elects to terminate as set forth in this paragraph, and Buyer is not then otherwise in default of the terms of this Agreement, all deposit money shall be returned to Buyer in accordance with the terms of this Agreement. If Buyer at that time claims that the mortgage application resulted in a denial of that application, and has not provided a copy of that denial in a timely fashion as set forth in paragraph (c) above, the failure to provide a copy of that denial as required herein shall be deemed a default by the Buyer. 6. SETTLEMENT. Unless otherwise mutually agreed, final settlement shall be held in ___________ County, Delaware on__________________________________, or before if mutually agreed upon, at which time possession shall be given. It is expressly agreed if a longer time is necessary to secure a survey, or to prepare the necessary legal and financial settlement documents, the date of settlement shall be extended for a reasonable time to effect these conditions.

7. TIME IS OF THE ESSENCE. Other than those limited conditions related to settlement as noted in Paragraph 6 above, time is of the essence in this Agreement. Time is of the essence means that the dates and time frames agreed by the parties must be met. Failure to meet stated dates or time frames may result in waiver of contractual rights or default under the terms of this Agreement. 8. CONVEYANCE. The Seller acknowledges that the Property is to be conveyed (check one) � IN FEE SIMPLE; � CO-OPOWNERSHIP; or � LEASEHOLD SUBJECT TO AN ANNUAL GROUND RENT, presently in the amount of $______ .

9. DISBURSEMENT OF DEPOSITS. The parties to this Agreement agree that deposit monies held on account as specified herein shall only be disbursed under one of the following conditions: A. Upon final settlement hereunder; OR

B. Upon a release being signed by all parties to the transaction authorizing disposition of these funds; OR C. Upon the filing of an interpleader action in the proper court, thereby causing these funds to be deposited with the

court; OR D. At such time as one of the parties to the transaction files suit and the court orders the disbursement of these funds.

Buyer and Seller agree that upon payment of deposit monies into court, neither Buyer nor Seller shall have any further right, claim, demand or action against Escrow Broker regarding the return or disposition of the deposit monies.

10. TRANSFER TAXES; PRO-RATIONS; AGRICULTURAL ROLLBACK TAXES. Applicable transfer taxes and transfer fees shall be paid one-half by Buyer and one-half by Seller, except that any exemptions shall benefit only the exempt party. Seller agrees to pay or escrow at time of settlement any and all agricultural rollback taxes applicable to this parcel. Taxes, special assessments, ground rent, water, sewer, electric and other lienable charges imposed by the State of Delaware, any political subdivision thereof, any school district, neighborhood association and/or condominium common expenses shall be apportioned pro-rata at the time of final settlement, as shall the rents and pre-paid operating expenses if Property is sold subject to a lease, and all security deposits shall be delivered to Buyer at time of settlement.

� Seller � Buyer shall pay for deed preparation. Buyer shall pay all other customary settlement charges and lending costs including survey. 11. TITLE. Title is to be good and marketable either fee simple absolute conveyed by Deed of Special Warranty or Leasehold Estate conveyed by assignment of the existing lease, as applicable, insurable for both owners and lenders coverage at regular rates by a title insurer duly licensed to issue title insurance in the State of Delaware, clear of any liens and encumbrances, except restrictions of record and existing easements generally applicable to properties in the immediate neighborhood or the subdivision in which the Property is located. Title shall also be delivered without encroachments or violations of restrictions, zoning or subdivision regulations unless disclosed by Seller in writing prior to ratification of Agreement. If title objections are raised, Seller shall have 30 days from the date Seller is notified to cure the same, and the settlement date shall be extended accordingly. If objections are not satisfied by the extended settlement date, this Agreement shall terminate and all deposit monies shall be refunded to Buyer and all reasonable legal, loan, survey, and inspection fees incurred by Buyer will be paid by Seller, unless Buyer elects to waive the unsatisfied objections and complete the purchase. Seller may use the purchase price payable to Seller at settlement to discharge liens and encumbrances of record in fixed and ascertainable amounts.

Seller's Initials _____ _____ Buyer's Initials _____ _____

3

©Copyright 2007 by Delaware Association of REALTORS®. All Rights Reserved. Last Modified July 22, 2009. This form has been created exclusively for the use of the association members and those with written permission. The use of this form for any transaction that does not involve the participation of an association member is strictly prohibited and is in violation of Federal Copyright laws.

12. NOTICE/DELIVERY OF DOCUMENTS. In this paragraph, the word “Agreement” includes offers, counteroffers, addenda or any other notice or agreement between the parties. All agreements shall be in writing. Verbal or written communication between the parties or the parties’ Designated Agents that this Agreement has been signed and ratified shall be binding on all parties and such verbal notice shall constitute delivery. Written communication shall be effective when sent. A facsimile, electronic record with electronic signature, or photocopy of a signed Agreement shall constitute an original. Buyer or Seller, if there be more than one, expressly agree that notice to one shall be notice to all. 13. NO RECORDING. This Agreement shall not be recorded or filed in any place of public record. If Buyer does record this Agreement, or permit this Agreement to be recorded, Seller may elect to treat such act as a default and have all the remedies provided herein. 14. FAIR HOUSING. All Parties agree to comply with all Fair Housing and Civil Rights laws in the purchase and sale of the Property and further agree specifically not to discriminate against any person because of RACE, COLOR, NATIONAL ORIGIN, RELIGION, CREED, SEX, MARITAL STATUS, FAMILIAL STATUS, AGE, SEXUAL ORIENTATION and/or HANDICAP/DISABILITY.

15. FIRPTA. Section 1445 of the United States Internal Revenue Code of 1986 provides that a Buyer of residential real property located in the United States must withhold federal income taxes from the payment of the purchase price if; (a) the purchase price exceeds three hundred thousand dollars ($300,000.00); and (b) the Seller is a foreign person. Unless otherwise stated in an addendum attached hereto, if the purchase price is in excess of three hundred thousand dollars ($300,000.00), Seller represents that Seller is not a nonresident alien, foreign corporation, foreign partnership, foreign trust or foreign estate (as those are defined by the Internal Revenue Code and applicable regulations) and agrees to execute an affidavit to this effect at time of settlement. 16. RISK OF LOSS. The risk of loss or damage to the Property by fire, wind storm or other casualty until settlement shall be borne by Seller. If any part of the Property is damaged or destroyed by fire or other casualty loss, Seller shall restore the same to its previous condition as soon as reasonably possible, but in any event by settlement date. If Seller is unable to do so, Buyer may terminate this Agreement and the deposit monies shall be refunded to Buyer in accordance with the terms of this Agreement. 17. CONDITION OF PROPERTY; INSPECTIONS. Seller shall deliver the Property in substantially the same physical condition as of the date of this Agreement. Seller agrees to permit access to Property by any authorized appraiser, inspector or contractor as required by the lender or by other terms of this Agreement. Buyer shall have the responsibility of scheduling a pre-settlement inspection of Property within 48 hours prior to settlement to verify that Property is in the condition required by this Agreement including conditions disclosed and accepted by Buyer elsewhere in this Agreement or by addendum. Property shall be vacant and clear of trash and debris at time of final settlement or possession (whichever occurs first). In the event of any failures of Property between the time of final acceptance and settlement, Seller shall make necessary repairs at Seller's expense prior to settlement. Except as expressly contained herein, no other warranties or representations have been made by Seller or relied upon by Buyer and upon settlement all Seller’s obligations for conditions of the Property under this Agreement shall expire. It is understood and agreed by the parties hereto the Broker(s)/Salesperson(s) assumes no responsibility for defects concerning the physical condition of the Property described herein and any improvements thereon. Buyer represents that they have made a satisfactory inspection of the Property and agrees to accept the Property in its present condition except as otherwise provided in this Agreement. 18. ENVIRONMENTAL CONDITIONS. Buyer is hereby advised that environmental conditions may exist about which Seller has no knowledge including but not limited to: buried fuel tanks, contamination affecting soil and drinking water, and similar conditions. Buyer may negotiate with Seller for permission to conduct environmental testing as a term or condition of this Agreement. Any agreement relating to environmental testing must be in writing and signed by both Buyer and Seller. Further information can be obtained from the following agencies: United States Environmental Protection Agency, Washington DC; State of Delaware Department of Health and Social Services, Dover, DE; United States Consumer Products, Safety Commission, Washington DC. 19. WETLANDS/FLOOD ZONE DISCLOSURE. If all or any portion of the Property has been designated tidal or non-tidal wetlands, this Property may be subject to federal, state and/or local government wetlands or non-tidal wetlands jurisdiction, and consequently flood delineations/determinations and flood insurance. If so, all construction and fill activities are subject to regulatory approval. Flood zone delineations/determinations, soil fill, construction, insurance, and other required approval activities are the sole responsibility of Buyer, and no other representations are made, either expressed or implied, regarding the extent to which changes can be made to the Property and if residential or other structures may be placed on the subject property. Buyer may elect, at Buyer’s expense, to engage the services of a qualified specialist to inspect the Property for the presence of wetlands prior to submitting a written offer to purchase the Property; or Buyer may include in Buyer’s written offer a clause making Buyer’s purchase of the Property contingent upon a satisfactory wetlands inspection. Additional information regarding wetlands is available from the U.S. Army Corps of Engineers and/or the Delaware Department of Natural Resources and Environmental Control. 20. NOTICE TO THE PARTIES. There may be a number of property characteristics which could affect the suitability of the Property for Buyer’s intended use. Brokers and Sales Associates are not generally aware of these characteristics and/or do not have the technical knowledge to advise Buyer of the significance of these characteristics. Therefore, Buyer may wish to have additional inspections of the Property made. Broker(s), Agent(s), Subagents and employees of Broker(s) make no representations with respect to the following: Seller's Initials _____ _____ Buyer's Initials _____ _____

4

©Copyright 2007 by Delaware Association of REALTORS®. All Rights Reserved. Last Modified July 22, 2009. This form has been created exclusively for the use of the association members and those with written permission. The use of this form for any transaction that does not involve the participation of an association member is strictly prohibited and is in violation of Federal Copyright laws.

(a) Water quantity, quality, color, odor, or taste or operating conditions of public and/or private water systems. (b) Location, size or operating condition of on-site sewage disposal systems. (c) The extensions of public utilities by local municipal authorities, existence or availability of public utilities, and any assessments, fees or costs for public utilities which might be imposed by local municipal authorities, should public utilities be extended or available to the subject Property. (Buyer should consult the appropriate authorities to determine the availability of proposed future extensions of utilities.) (d) The physical characteristics of the Property such as size, shape, road frontage, road access, and exact location. If the subject Property is part of a recorded subdivision, Buyer may review the plat upon request at the Recorder of Deeds Office. If the subject Property is not part of a recorded subdivision, Buyer may verify exact size and location through a survey by a licensed engineer or land surveyor, at Buyer’s expense. Unless an addendum pertaining to the acreage or square feet and/or the configuration of the property is specifically included as a part of this Agreement, Buyer shall purchase the Property and Seller shall sell the Property without any adjustment in the purchase price regardless as to the actual size or configuration of the Property. (e) Existing zoning or permitted uses of the Property: Buyer should contact the appropriate Zoning Office and/or a licensed professional to verify zoning and permitted uses. Property may also be subject to Tax Ditch right-of-way restrictions. (f) Brokers/agents are not advising the parties as to certain other issues, including without limitation: soil conditions; flood hazard areas; possible restrictions of the use of property due to restrictive covenants, subdivision plat, environmental laws, easements or other documents; airport or aircraft noise; planned land use, roads or highways; and surface or subsurface hazardous materials, underground storage tanks, landfill or trash disposal sites. Information relating to these issues may be available from appropriate governmental authorities. This disclosure is not intended to provide an inspection contingency.(g) Buyer and Seller each assume full responsibility for selecting and compensating their respective vendors.

21. RESTRICTIVE COVENANTS/HOMEOWNERS ASSOCIATION. This Property may be subject to restrictive covenants and/or a homeowners association which may limit Buyer’s use and/or improvements upon the Property. Unless made a contingency of this Agreement, Buyer acknowledges that they have received and reviewed the recorded restrictions or waived their right to do so before they signed this Agreement and that they agree to be bound by the restrictions. Should this property be subject to a Homeowners Association Buyer acknowledges that certain mandatory fees may be imposed and agrees to be bound by the rules & regulations of such Homeowners Association. 22. BUYER’S DEFAULT. If Buyer fails to deliver any payment or additional deposit, fails to make mortgage application as specified herein, knowingly furnishes false or incomplete information to Seller, Broker or the lending institution concerning Buyer’s legal or financial status, fails to cooperate in the processing of the mortgage loan application resulting in failure to obtain a mortgage financing commitment, or violates or fails to perform any of the terms or conditions of this Agreement, then Seller shall have the right and option to cancel this Agreement and to retain any deposit money as liquidated damages for such default by Buyer, or exercise any legal or equitable right or remedy to which Seller may be entitled and in connection therewith to apply any deposit money either on account of the Purchase Price or on account of damages, as Seller may elect. 23. SELLER’S DEFAULT. If Seller shall, for some reason not excused herein, fail or refuse to perform Seller’s obligation to Buyer, and Buyer shall not also be in default, Buyer shall either have all monies paid herein on account of the Purchase Price, (together with such reasonable costs incurred in preparation for settlement), refunded forthwith, whereupon all rights and obligations herein shall cease and terminate, or Buyer shall have the right to seek any remedy and maintain any action against Seller to which Buyer may be entitled whether at law or in equity. 24. NO REPRESENTATION. Buyer and Seller understand and acknowledge that Broker(s) are not at any time authorized to make any representations about this Agreement or the Property other than those written in this Agreement. Broker(s), Agent(s), Subagents and employees of Broker(s) do not assume any responsibility for the condition of the Property or for the performance of this Agreement by any or all parties hereto. By signing this Agreement, Buyer and Seller acknowledges they have not relied on any representations made by Broker(s) or any Agents, Subagents or employees of Broker(s), except those representations written in this Agreement. 25. INDEMNIFICATION. In the event any dispute arises under this Agreement between Seller and Buyer resulting in Broker(s) or any Agents, or Subagents or employees of Broker(s) being a party to any litigation, Seller or Buyer, whichever is unsuccessful, shall indemnify and hold Broker(s), Agents, Subagents or employees of Broker(s) harmless from any liability, loss, damage, cost, expense, and attorney fees, provided such litigation does not result in a judgment against Broker(s), Agent(s), Subagents or employees of Broker(s) for acting improperly under this Agreement. In the event a dispute arises under this Agreement between Seller and Buyer resulting in any litigation and/or arbitration, Buyer or Seller, whichever is unsuccessful, shall also be liable for the other parties’ court costs and attorney’s fees. Additionally, should Buyer waive any inspections or provisions in this Agreement of Sale either as the result of marking the item NO, failing to mark the item YES, or not following through with an inspection, Buyer shall hold Broker(s), Agents, Subagents or employees of Broker(s) harmless from any liability, loss, damage, cost, expense, and attorney fees resulting from Buyer’s waiver of such provision. 26. SITE EVALUATION/NOTICE TO BUYER. (This notice is required by 25 Del C Chapter 3 §313 for the sale of unimproved real estate.) If the Property being purchased hereunder is an unimproved parcel of land, Buyer should consult with the appropriate public authorities to ascertain whether central sewerage and water facilities are available, or if not, whether the Property will be approved by appropriate authorities for the installation of a well and private sewerage disposal system. If central sewerage and water facilities are not available, then this Contract is contingent upon 1) a satisfactory site evaluation that will allow the installation of an approved on-site disposal system, in accordance with the regulations promulgated by the Department of Natural Resources & Environment Control, that is acceptable to the Buyer; 2) the availability of a water supply; and 3) the lot conforming with the local zoning ordinance; or this Contract shall become null and void, and all deposits shall be returned to the Buyer.

Seller's Initials _____ _____ Buyer's Initials _____ _____

5

©Copyright 2007 by Delaware Association of REALTORS®. All Rights Reserved. Last Modified July 22, 2009. This form has been created exclusively for the use of the association members and those with written permission. The use of this form for any transaction that does not involve the participation of an association member is strictly prohibited and is in violation of Federal Copyright laws.

The ___________________ shall request the site evaluation within ____________days of Contract ratification. The _______________________shall pay all costs of complying with these provisions. Buyer and Seller may modify these provisions or Buyer may waive these provisions of the Contract by signing the waiver addendum below:

WAIVER ADDENDUMBy their signature(s) below, the parties agree that Buyer waives the provisions of the foregoing Site Evaluation/Notice to Buyer. Buyer acknowledges that Buyer has read and understands the Notice to Buyer. Buyer voluntarily waives and gives up such Notice to Buyer provision in its entirety. Buyer understands that by waiving such provisions, the Agreement and the obligation of Buyer to purchase this Property is not contingent or dependent upon a satisfactory site evaluation, or the availability of central or on-site sewerage and water facilities or the conformity of the property with local zoning ordinance. Buyer & Seller agree that this Agreement is not made null & void if an unsatisfactory site evaluation of the property is made or if central water supply or on-site wastewater/sewerage and water facilities are not available to the Property or if property does not conform with the local zoning ordinances. Buyer acknowledges that this waiver addendum is not made in reliance on any information, data, material statement or representation made by the Seller. NO WAIVER OCCURS UNLESS SIGNED BELOW BY ALL PARTIES. _________________________ __________________ ___________________ _____________________ Buyer signature Buyer signature Seller signature Seller signature

It is understood by Buyer that a site evaluation does not guarantee the issuance of a septic permit.

27. UTILITY CONNECTION FEES/BUILDING TAX. Notice to Buyer: If Buyer builds on or improves the Property being purchased herein, Buyer may be responsible for other fees to city, county, or state authorities, as well as private utility companies, for connecting the Property to utilities (sewer, water, electric, etc.). Buyer may also be responsible for realty transfer taxes on the value at cost of construction of improvements on property when the contract for construction is entered into within one year of the transfer of the underlying land. (30 Del C Chapter 54, §5401 and §5402) These taxes would be required to be paid as a precondition of obtaining a building permit, and any adjusted amount required prior to being issued a certificate of occupancy pursuant to any state and/or local government codes. 28. AGRICULTURAL USE. This Property may be located in the vicinity of land used primarily for agricultural purposes on which normal agricultural uses and activities have been afforded the highest priority use status. If this is the case it can be anticipated that such agricultural uses and activities may now, or in the future, involve noise, dust, manure, and other odors, the use of agriculture chemicals, and nighttime farm operations. The use and enjoyment of this Property is expressly conditioned on acceptance of any annoyance or inconvenience which may result from such normal agricultural uses and activities. In certain instances governmental authorities require a deed restriction to this effect when properties are located in the vicinity of land used for agricultural purposes. 29. AGENCY DISCLOSURE. As disclosed in the Consumer Information Statement of the Delaware Real Estate Commission, the parties confirm that the following agency relationships exist:

I. , Listing Broker

Seller’s Agent Dual Agent

II. , Designated Listing Agent

Seller’s Designated Agent Designated Dual Agent

III. __________________________________ , Selling Broker

Buyer’s Agent Dual Agent Seller’s Subagent

IV. , Designated Selling Agent

Buyer’s Designated Agent Designated Dual Agent Seller’s Subagent

V. Broker, and ______ Salesperson, are common law agents in which case further agency disclosure is required.

Seller's Initials _____ _____ Buyer's Initials _____ _____

6

©Copyright 2007 by Delaware Association of REALTORS®. All Rights Reserved. Last Modified July 22, 2009. This form has been created exclusively for the use of the association members and those with written permission. The use of this form for any transaction that does not involve the participation of an association member is strictly prohibited and is in violation of Federal Copyright laws.

30. SUCCESSION. This Agreement shall benefit and bind the parties hereto, their respective heirs, personal representatives, successors and assigns. Buyer may not assign Buyer's interest in this Agreement without Seller's prior written consent, which consent will not be withheld unless such assignment may adversely affect Seller. 31. BROKERAGE FEE. Buyer and Seller agree that the Broker(s)/Agent(s) was responsible for procuring this Agreement, and agree that a brokerage fee for services rendered as specified in a separate agreement for compensation will be paid. If not previously paid, the settlement attorney is hereby irrevocably authorized and directed to collect the brokerage fee as specified in the separate agreement and pay the same to the Broker at final settlement as a convenience to the parties, and not as a limitation upon Buyer’s or Seller’s liability to pay the brokerage fee.

32. ADDENDUMS. These Addendums are only applicable if marked YES or checked. NO or a blank means you are waiving the opportunity to include the contingency or clause. If language in this Agreement and Addendum(s) are in conflict, unless otherwise provided herein, then the addendum(s) will supersede this Agreement. _____ Tax Deferred (1031) Exchange _____ Buyer’s Financial Information _____ Mortgage Letter with Credit Check _____ Additional Addenda not included above_______________________________________________________________

_____ Buyer-Seller Dispute Resolution. NOTE: Pertains to New Castle County Board members only. This is not a condition or contingency of this Agreement and requires a separate attached signed addendum and all parties must agree.

33. ADDITIONAL TERMS AND CONDITIONS._______________________________________________________________ ________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________ 34. MISCELLANEOUS. Delaware law governs this Agreement. The paragraph captions are for convenient reference only and are not intended to limit or enlarge the substance of this Agreement. The term Broker(s) when used in this Agreement shall include Broker of Record, Brokerage Organization, Broker Owner, Salesperson(s) and employees involved in this Agreement. The word “Contract” is synonymous with “Agreement” when used herein.

The singular forms “Buyer” and “Seller” are used in this Agreement solely as a convenience and are intended to include all parties who are Buyers or Sellers. Buyer and Seller agree that they have read and fully understand this Agreement, including the Seller's Disclosure of Real Property Condition Report (if applicable), that it contains the entire agreement between them and that they do not rely on any other written or oral representation or statement not expressly written in this Agreement, including any statement of fact or opinion contained in any advertisement, listing agreement, multiple listing description or multiple listing information sheet or made by Seller, any broker, salesperson, or any agent or employee of any of them. If settlement does not take place Buyer and Seller shall each be responsible to pay for services ordered on their behalf, unless otherwise provided for herein. The parties hereto agree to execute and deliver any other instrument(s) or document(s) that may be necessary or convenient to carry into effect the provisions of this Agreement, and the parties agree to otherwise cooperate in good faith as may be necessary to complete the settlement contemplated herein. 35. CHANGES. There have been changes in the form of this Agreement as copyrighted by the Delaware Association of REALTORS® other than filling in the blanks. Yes No. If yes, describe changes.

_____________________________________________________________________________________________________ 36. ENTIRE AGREEMENT. This Agreement and any addenda hereto contain the final and entire agreement between the parties and may not be modified or changed except by written agreement signed by all parties. The parties agree that neither they nor their Broker(s)/Agent(s) shall be bound by any terms, conditions, statements, warranties or representations, oral or written, not contained herein.

37. FINAL ACCEPTANCE. This Agreement is not binding until signed by and delivered to all parties.

IN WITNESS WHEREOF, the parties have signed this Agreement on the date stated below, thereby showing their intent to be bound hereby. ______________________________ ___________________________________ _______________________________ WITNESS BUYER Date & Time ______________________________ ___________________________________ _______________________________ WITNESS BUYER Date & Time ______________________________ ___________________________________ _______________________________ WITNESS SELLER Date & Time ______________________________ ___________________________________ _______________________________ WITNESS SELLER Date & Time

7

©Copyright 2007 by Delaware Association of REALTORS®. All Rights Reserved. Last Modified July 22, 2009. This form has been created exclusively for the use of the association members those with written permission. The use of this form for any transaction that does not involve the participation of an association member is strictly prohibited and is in violation of Federal

Copyright laws.

SELLER HEREBY REJECTS this offer as of

_____________________________ __________________________________ __________________________ WITNESS SELLER Date & Time SELLING BROKER CODE BRANCH OFFICE OFFICE PHONE NUMBER FAX NUMBER SALES ASSOCIATE CODE PHONE NUMBER LISTING BROKER CODE BRANCH OFFICE OFFICE PHONE NUMBER FAX NUMBER SALES ASSOCIATE CODE PHONE NUMBER

Seller's Initials _____ _____ Buyer's Initials _____ _____

and

Deposit received: $___________: � Cash � Check # _______ Effective/ratification date of Agreement _____________________

Mortgage Information

Seller Name: __________________________________________________________________________

Property Address: ______________________________________________________________________

In order to have accurate information to obtain payoff amounts upon the sale of your home, the following details are requested on your current loan(s):

First Loan Lender Name: ____________________________________________________________________

Account Number: _________________________________________________________________

Lender Address: __________________________________________________________________

Lender Phone: ___________________________________________________________________

Approx. Balance: _________________________

Second LoanLender Name :____________________________________________________________________

Account Number: _________________________________________________________________

Lender Address: __________________________________________________________________

Lender Phone: ___________________________________________________________________

Approx. Balance: _________________________

Home Equity LineLender Name :____________________________________________________________________

Account Number: _________________________________________________________________

Lender Address: __________________________________________________________________

Lender Phone: ___________________________________________________________________

Approx. Balance: _________________________

Please be advised that most lenders require advance notice of impending payoff. This will require providing the lender notification that the loan may be paid off with the completion of a sale on your home.

I/We the Seller’s and holder of any of the above mortgages hereby authorize the release of any information related to the payoff of any of these mortgages to my Broker/Agent or the Buyer’s attorney doing the title search or handling the closing of the property.

________________________________ _____________________________ Broker Company Name Date Seller Date

________________________________ ______________________________ Broker/Agent Date Seller Date

_____________________________ Seller Date

Copyright 2010 Delaware Association of REALTORS®. All Rights Reserved. Last modified March 1, 2010. For use by REALTOR®

members of the Delaware Association of REALTORS® only.

MUST SELL ADDENDUM

Seller_________________________________________________________________________________________________________ Buyer_________________________________________________________________________________________________________ Property_______________________________________________________________________________________________________ Agreement of Sale Date _________________________________Addendum Date____________________________________________

1. This Agreement is contingent upon the Buyer obtaining a satisfactory Agreement of Sale on Buyer’s current property identified as: ________________________________________________________________, (hereafter known as the “Must Sell Property”) on or before 11:59pm ________________________ (date). Should the Buyer be unable to obtain a satisfactory Agreement of Sale on the “Must Sell Property” by the above date, or should final settlement on the Buyer’s “Must Sell Property” not occur on or before 11:59pm_______________________ (date) (Contingency Period) this Agreement shall become null and void, in which event all deposits shall be returned to the Buyer, in accordance with paragraph 10 of the Agreement of Sale.

2. During the period of this contingency, the Buyer’s “Must Sell Property” shall be exclusively listed with ________________________________________________ and is to be competitively priced according to a fair market valuation. Buyer, in good faith, will furnish Seller or Seller’s agent with a copy of the executed exclusive listing agreement for Buyer’s “Must Sell Property”. If Buyer does not provide such listing agreement now or within ______ days of the ratification date of this Addendum, this Agreement may be declared null and void by the Seller, in which event all deposits shall be returned to the Buyer, in accordance with paragraph 10 of the Agreement of Sale.

3. Seller retains the right to continue to market their property for sale during the Contingency Period stated above. If another acceptable Agreement of Sale is received by the Seller during this Contingency Period, the Buyer shall have 72 hours from receipt of written notification to Buyer, to satisfy this contingency. In accordance with paragraph 13 of the Agreement of Sale, Buyer or Seller, if there be more than one, expressly agree that notice to one shall be notice to all.

4. To satisfy this contingency, Buyer must, within 72 hours of receipt of this notice: (A.) Provide written documentation satisfactory to Seller that Buyer is financially able to purchase Property without the sale and settlement of the Buyer’s “Must Sell Property”, or (B.) Provide Seller with a written mortgage commitment which is not subject to the sale and settlement of the Buyer’s “Must Sell Property” and proof satisfactory to seller of Buyer’s ability to pay the balance necessary to complete settlement, or (C.) Provide other evidence satisfactory to the seller of Buyer’s ability to buy.

5. In the event that Buyer is unable to satisfy this Must Sell Addendum, Seller may declare this Agreement of Sale null and void in which event all deposits shall be returned to the Buyer, in accordance with paragraph 10 of the Agreement of Sale.

6. Immediately upon removal of this Must Sell Addendum, Buyer shall make an additional deposit of $_____________ to be applied towards the purchase price.

7. Additional Terms: ____________________________________________________________________________________________

8. The singular forms “Buyer” and “Seller” are used in this Agreement solely as a convenience and are intended to include all parties who are Buyers or Sellers.

________________________________ ______________________________________ ____________________ Witness Buyer Date ________________________________ ______________________________________ ____________________ Witness Buyer Date ________________________________ ______________________________________ ____________________ Witness Seller Date ________________________________ ______________________________________ ____________________ Witness Seller Date

Copyright 2010 Delaware Association of REALTORS®. All Rights Reserved. Last modified March 1, 2010. For use by REALTOR®

members of the Delaware Association of REALTORS® only.

Copyright 2010 Delaware Association of REALTORS®. All Rights Reserved. Last modified March 1, 2010. For use by REALTOR®

members of the Delaware Association of REALTORS® only.

NOTIFICATION PAGE MUST SELL ADDENDUM

Seller______________________________________________________________________________________________ Buyer______________________________________________________________________________________________ Property____________________________________________________________________________________________ Agreement of Sale Date _________________________________Must Sell Addendum Date_________________________

SELLER NOTICE OF INITIATION

Seller hereby gives written notice to Buyer that another satisfactory Agreement of Sale on the Property has been received and hereby gives Buyer the required notification according to paragraph 3. _____________________________ __________________________________ ____________________ Witness Seller Date/Time _____________________________ __________________________________ ____________________ Witness Seller Date/Time

BUYER RECEIPT OF NOTIFICATION _____________________________ __________________________________ ____________________ Witness Buyer Date/Time

REMOVAL OF “MUST SELL ADDENDUM”

� The parties agree that the above Must Sell Addendum has been satisfied by providing documentation acceptable to the Seller according to paragraph 4. The Must Sell Addendum is hereby removed except for Buyer’s obligation to pay the additional deposit, and all other terms and conditions of the Agreement of Sale remain in effect. _____________________________ __________________________________ ____________________ Witness Buyer Date _____________________________ __________________________________ ____________________ Witness Buyer Date _____________________________ __________________________________ ____________________ Witness Seller Date _____________________________ __________________________________ ____________________ Witness Seller Date

VOIDING OF AGREEMENT OF SALE

� Buyer is unable to remove the Must Sell Addendum. The parties hereto do hereby declare the Agreement of Sale to be null and void. All deposit money is being refunded to Buyer in accordance with paragraph 10 of the Agreement of Sale. _____________________________ __________________________________ ____________________ Witness Buyer Date _____________________________ __________________________________ ____________________ Witness Buyer Date _____________________________ __________________________________ ____________________ Witness Seller Date _____________________________ __________________________________ ____________________ Witness Seller Date

Copyright 2009 Delaware Association of REALTORS®. All Rights Reserved. Last Modified 7-22-09. For use by REALTOR® members of the Delaware Association of REALTORS® only

Short Sale Addendum to Agreement of Sale This Short Sale Addendum to Agreement of Sale is made by and between

_______________________________________________________________________________________ (“Seller”)

And __________________________________________________________________________________ (“Buyer”)

For the Property known as: _______________________________________________________________("Property”)

1. ACKNOWLEDGMENT OF SHORT SALE. The Purchase Price in the Agreement of Sale is insufficient to satisfy all debts and obligations secured by liens on the Property as well as to pay brokers’ fees and other necessary and customary costs of the sale, (collectively “Liens”). The Seller’s ability to convey good and marketable title per the terms of the Agreement of Sale is subject to obtaining releases on all liens and encumbrances. Because third parties will be asked to approve a lien payoff that is less than or “short of” the amount actually owed, this proposed transaction is referred to as a “Short Sale.”

2. THIRD PARTY APPROVAL OF SHORT SALE. Buyer and Seller acknowledge that the Agreement of Sale is contingent upon the Seller obtaining written approval of the terms and conditions of the transaction by each third party that is asked to accept a reduced amount, (collectively “Approving Creditors”). No later than five (5) days after the acceptance date of the Agreement ofSale, Seller shall submit the Agreement of Sale and any additional documentation required, to Approving Creditors for review andapproval. Sellers will attempt to obtain the consent of the Approving Creditors to approve the release of such liens for encumbrances in exchange for a payment that is less than or “short” of the amount actually owed to such Approving Creditors, inorder to convey title to the property. Seller shall reasonably cooperate with Approving Creditors and promptly provide any supplemental information, papers, and/or material that may be requested, and shall bear solely any expense for submitting authorizations or documents required by the Approving Creditors. Seller shall provide Buyer with a copy of any Approving Creditors’ consent within 3 days of receipt.

3. THIRD PARTY MODIFICATIONS. Buyer and Seller acknowledge that the Approving Creditors may elect to request modifications to the terms of the Agreement of Sale or refuse to approve the sale. If Approving Creditors request modifications to the Agreement, Seller shall, no later than three (3) days after Seller’s receipt of the request, deliver a written notice of therequested modification to Buyer. The modifications shall not be binding upon Buyer or Seller without their mutual written consent.

4. FAILURE TO OBTAIN THIRD PARTY APPROVAL. If Seller is unable to obtain the necessary written approval of all Approving Creditors on or before _________________, 20____ or Buyer and Seller have not reached agreement on any modifications as provided in Paragraph 3 of this Addendum, the Agreement of Sale shall be deemed null and void and of no further force and effectand all deposits shall be returned to the Buyer in accordance with the terms of the Agreement of Sale.

5. CREDIT, LEGAL AND TAX ADVICE. Seller is hereby notified that a short sale may have credit, legal or tax consequences. Seller is advised to seek advice from an attorney, certified public accountant or other expert regarding the potential consequences of a short sale. Broker cannot give credit, legal, or tax advice, and has no control over whether Approving Creditors consent to a Short Sale. Broker is not responsible for any act, omission, or decision by any Approving Creditors.

6. GENERAL PROVISIONS. In the event of any conflict between the terms of this Addendum and the terms of the Agreement of Sale, the terms of this Addendum shall govern. Except as set forth in this Addendum, all other terms and provisions of the Agreement of Sale and any other addenda, modifications or amendments thereto shall remain in full force and effect.

WITNESS BUYER Date __________________

WITNESS BUYER Date __________________

WITNESS SELLER Date __________________

WITNESS SELLER Date __________________

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Page�1�of�7��Property Address: ___________________________________________________________________

Seller’s Initials ____________ Seller’s Initials_____________ Buyer’s Initials____________ Buyer’s Initials ___________

��

Seller (s) Name: ______________________________________________________________________

Property Address: ____________________________________________________________________

Approximate Age of Buildings(s): __________________ Date Purchased: ______________________

Chapter 25, Title 6 of the Delaware Code,�requires a Seller of residential property to disclose in writing all material defects of the property that are known at the time the property is offered for sale or that are known prior to the time of final settlement. Residential property means any interest in a property or manufactured housing lot, improved by dwelling units for 1-4 families.The disclosure must be made on this Report, which has been approved by the Delaware Real Estate Commission, and shall be updated as necessary for any material changes occurring in the property before final settlement. This Report shall be given to all prospective Buyers prior to the time the Buyer makes an offer to purchase. This Report, signed by Buyer and Seller, shall become a part of the Agreement of Sale. This Report is a good faith effort by the Seller to make the disclosures required by Delaware law and is not a warranty of any kind by the Seller or any Agents or Sub-Agents representing Seller or Buyer in the transfer and is not a substitute for any inspections or warranties that the Seller or Buyer may wish to obtain. The Buyer has nocause of action against the Seller or Real Estate Agent for material defects in the property disclosed to the Buyer prior to theBuyer making an offer; material defects developed after the offer was made but disclosed in an update of this Report prior to settlement, provided Seller has complied with the Agreement of Sale; or material defects which occur after settlement. State websites containing helpful information include: Office of State Planning Coordination www.stateplanning.delaware.gov,Delaware Department of Natural Resources and Environmental Control www.dnrec.delaware.gov, Delaware Division of Public Health www.dhss.delaware.gov/dhss/dph, Delaware State Police Sex Offender Registry www.state.de.us/dsp and other agencies listed on www.delaware.gov.

Yes No ** Write in U if Unknown or NA if Not Applicable, otherwise mark either the Yes or No column. Where selections are requested, place a check mark next to each correct answer or fill in the correct answer. Certain answers require a further explanation in Section XVI. I. OCCUPANCY

1. Do you currently occupy this property full-time? If No, how long has it been since you occupied the property? __________________. Property is your: (____Primary Residence) (____ Second/Vacation Home) (___ Rental Property) (____ Other ____________________________________________________________).

2. Is the property encumbered by a (___lease), (___option to purchase), or (___first right of refusal)? 3. If the property is leased, have all necessary permits/licenses been obtained?

4. Is the property new construction?

5. If # 4 is Yes, Seller warrants that the property (___ is) or (___ is not) exempt from providing the buyer with a Public Offering Statement as described in §81-401 or §81-403(b) of Chapter 81, Title 25 of the Delaware Code, The Delaware Uniform Common Interest Ownership Act. If not exempt, in compliance with §317A of Chapter 3, Title 25, Seller has attached a copy of all documents in the chain of title that create any financial obligation for the buyer, and a written summary of all financial obligations created by documents in the chain of title. As evidenced by signature below, buyer has received a copy of these documents.

II. DEED RESTRICTIONS, HOMEOWNERS ASSOCIATIONS/CONDOMINIUMS AND CO-OPS 6. Is the property subject to any deed restrictions? 7. Are you in violation of any deed restrictions at this time? If Yes, describe in XVI. 8. Is the property subject to any agreements concerning affordable housing or workforce housing? 9. Is the property subject to any private or public architectural review control other than building codes? 10. Is the property part of a condominium or other common ownership?

SELLER’S DISCLOSURE OF REAL PROPERTY CONDITION REPORT

State of Delaware Approved by the Delaware Real Estate Commission (effective 1/1/2011)

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Page�2�of�7��Property Address: ___________________________________________________________________

Seller’s Initials ____________ Seller’s Initials_____________ Buyer’s Initials____________ Buyer’s Initials ___________

��

Yes No ** Write in U if Unknown or NA if Not Applicable, otherwise mark either the Yes or No column. Where selections are requested, place a check mark next to each correct answer or fill in the correct answer. Certain answers require a further explanation in Section XVI.

11. Is there a (___Homeowners Association), (___Condominium Association), (___Civic Association), or (___Maintenance Corporation) included in the deed?

12. If # 11 is Yes, are there any (___fees), (___dues), (___assessments) or (___bonds) involved? If Yes, how much? _____________________________ Are they (___ Mandatory) or (___Voluntary)?

13. Are there any unpaid assessments? If Yes, indicate amount ____________________________. 14. Has there been a special assessment in the past 12 months? If Yes, describe in XVI. 15. Have you received notice of any new or proposed increases in fees, dues, assessments or bonds? If Yes,

describe in XVI. 16. Is there any condition or claim, which may result in an increase in assessments or fees? If Yes, describe in

XVI. 17. Management Company Name: ___________________________________________________________ 18. Representative Name: ___________________________________ Phone # _______________________ III. TITLE / ZONING INFORMATION19. Does the amount owed on your mortgages and other liens exceed the estimated value of the property? If Yes, are additional funds available from Seller for settlement? ___________ 20. Is your property owned (___ In fee simple) or (___ Leasehold) or (___Cooperative)? 21. Are there any right-of-ways, easements or similar matters that may affect the property? If Yes, describe in XVI. 22. Are there any shared maintenance agreements affecting the property? If Yes, describe in XVI. 23. Are there any variance, zoning, non-conforming use, or setback violations? If Yes, describe in XVI.

� 24. Has the variance or non-conforming use expired or would not be transferable? If Yes, describe in XVI. � 25. Has a title policy been issued on the property in the past 5 years?

IV. MISCELLANEOUS26. Have you received notice from any local, state or federal agencies requiring repairs, alterations or corrections of any existing conditions? If Yes, describe in XVI. 27. Is there any existing or threatened legal action affecting this property? If Yes, describe in XVI. 28. Are there any violations of local, state or federal laws or regulations relating to this property? If Yes, describe in XVI. 29. Is there anything else you should disclose to a prospective Buyer because it may materially and adversely affect the property, e.g., zoning changes, road changes, proposed utility changes, threat of condemnation, noise, bright lights, odors, or other nuisances, etc.? If Yes to any, describe in XVI. 30. Are all the exterior door locks in the house in working condition? If No, describe in XVI. 31. Will keys be provided for each lock? 32. Have you had, or do you now have, any animals (pets) in the house? 33. Is there or has there ever been a (___swimming pool), (___hot tub), (___spa) or (___whirlpool) on the property? If Yes and there are any defects describe in XVI. 34. If there is a pool, does it conform to all local ordinances? If No, describe in XVI. 35. What is the type of trash disposal? (___Private), (___ Municipal) or (___ Other __________________). 36. The cost of repairing and paving the streets adjacent to the property is paid for by: _____ The property owner(s), estimated fees: $ ____________________________________________ _____ Delaware Department of Transportation or the State of Delaware _____ Unknown Note to Buyer: Repairing and repaving of the streets can be very costly. (6 Delaware Code§ 2578)

37. Is off street parking available for this property? If Yes, number of spaces available: _________________ V. ENVIRONMENTAL HAZARDS

38. Are there now or have there been any underground storage tanks on the property? For (___heating fuel), (___propane), (___septic) or (___Other ______________________). If Yes, describe locations in XVI.

39. If the tank was abandoned, was it done with all necessary permits and properly abandoned? 40. Are asbestos-containing materials present? If Yes, describe in XVI.

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Yes No ** Write in U if Unknown or NA if Not Applicable, otherwise mark either the Yes or No column. Where selections are requested, place a check mark next to each correct answer or fill in the correct answer. Certain answers require a further explanation in Section XVI.

41. Are there any lead hazards? (e.g., lead paint, lead pipes, lead in soil.) If Yes, describe in XVI. 42. Has the property been tested for toxic or hazardous substances? Attach each test report, if available. 43. Has the property ever been tested for mold, if Yes, provide the test results. 44. Is there currently mold in the property? If Yes, describe in XVI.

VI. LAND (SOILS, DRAINAGE AND BOUNDARIES) 45. Is there fill soil or other fill material on the property? 46. Are there any sliding, settling, earth movement, upheaval, earth stability, or methane gas release problems that

have occurred on the property or in the immediate neighborhood? If Yes, describe in XVI. 47. Is any part of the property located in (____ a flood zone) and/or (____ a wetlands area)? 48. Are there any drainage or flood problems affecting the property? If Yes, describe in XVI. 49. Do you carry flood insurance? Agent: _________________________ Policy # ______________________

50. If # 49 is Yes, what is the annual cost of this policy? ___________________________________________ 51. Have you made any insurance claims on the property in the past 5 years? If Yes, describe in XVI. 52. Does the property have standing water in front, rear or side yards for more than 48 hours after raining? 53. Are there encroachments or boundary line disputes affecting the property? If Yes, describe in XVI. 54. Are there any tax ditches crossing or bordering the property? 55. Has the property ever been surveyed? 56. Are the boundaries of the property marked in any way?

VII. STRUCTURAL ITEMS 57. Have you made any additions or structural changes? If Yes, describe in XVI. 58. If Yes, was all work done with all necessary permits and approvals in compliance with building codes? 59. Is there any movement, shifting, or other problems with walls or foundations? If Yes, describe in XVI. 60. Has the property or improvements thereon ever been damaged by (___fire), (___smoke), (___wind), or

(___flood)? If Yes, describe in XVI. 61. Was the structure moved to this site? (___ Double Wide) (___ Modular) (___Other: ______________) 62. Was fire retardant plywood used in the construction? 63. Is there any (___ past) or (___present) water leakage in the house? If Yes, describe in XVI. 64. Are there any problems with (___driveways), (___walkways), (___ patios), or (___ retaining walls) on the

property? If Yes, describe in XVI. 65. Have there been any repairs or other attempts to control the cause or effect of problems described in

questions 63 and 64? If Yes, describe in XVI. 66. Is there insulation in:

The ceiling / attic? The exterior walls? Other places? Describe ______________________________________________________________

What type(s) of insulation does your property have? _______________________________________ 67. Are there any drywall issues or drywall smells? If Yes, describe in XVI.

VIII. TERMITES, DRYROT, PESTS 68. Is there or has there been any infestation by termites or other wood destroying insects? If Yes, describe in

XVI. 69. Is there or has there been any damage to the property caused by (___ termites), (___other wood destroying

insects), (___pests) or (___dryrot)? If Yes, describe in XVI. 70. Have there been any termite / pest control inspections or treatments made on the property? 71. Is your property currently under warranty or other coverage by a professional pest control company?

If Yes, name of exterminating company: _____________________________________________________ IX. BASEMENT AND CRAWL SPACES

72. Does the property have a sump pump? If Yes, where does it drain? _____________________________ 73. Is there any water leakage, accumulation, or dampness within the basement or crawlspace? 74. Have there been any repairs or other attempts to control any water or dampness problem in the basement or

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Yes No ** Write in U if Unknown or NA if Not Applicable, otherwise mark either the Yes or No column. Where selections are requested, place a check mark next to each correct answer or fill in the correct answer. Certain answers require a further explanation in Section XVI. crawlspace? If Yes, describe in XVI.

75. Are there any cracks or bulges in the floor or foundation walls? If Yes, describe in XVI. X. ROOF76. Date last roof surface installed: ___________________________________________ 77. How many layers of roof material are there (e.g., new shingles over old shingles)? _________________

78. Are there any problems with the roof, flashing, or rain gutters? If Yes or repaired under your ownership, explain in XVI.

79. If under warranty, is warranty transferable? 80. Where do your gutters drain? (___ Surface) (___ Drywell) (___ Storm Sewers) (___Other _____________) XI. PLUMBING-RELATED ITEMS81. What is the drinking water source? ________________________________________________________. 82. If drinking water supplied by utility, name of utility: __________________________________________. 83. What type of plumbing (copper, lead, cast iron, PVC, polybutylene, galvanized, unknown) is in the house? 1. Water supply _________________________ 2. Drainage ____________________________

84. Have there been any additions / upgrades to the original service? If Yes, describe in XVI. 85. If any, was the work done by a licensed contractor?

86. If your drinking water is from a well, when was your water last tested and what were the results of the test? Tested on: _______________________, Results: __________________________________________________. 87. When was well installed? _______________Location of well? ______________ Depth of well? _________

88. Is there a water treatment system? If Yes, (___ Leased) or (___ Owned)? 89. What is the type of sewage system? (___ Public Sewer) (___Community Sewer) (___ Septic System) (___ Cesspool) (___Other ___________________________________________________________________) 90. If a septic system, type: (___ Gravity Fed) (___ Capping Fill) (___ LPP) (___ Mound) (____ Holding Tank) ( ____ Other:_______________________________) 91. When was septic system or cesspool last serviced? ___________________________________________

92. Is there a wastewater spray irrigation system installed on or adjacent to the property? 93. Has a soil / site evaluation ever been done? If Yes, when? __________ Results? ___________________ 94. Any leaks, backups, or other problems relating to any of the plumbing, water and sewage related items? If

Yes, describe in XVI. 95. Are there any shut off, disconnected, or abandoned wells, underground water or sewer tanks on the property?

If Yes, describe locations in XVI. 96. If # 95 is Yes, were they abandoned with all necessary permits and properly abandoned? 97. Water heater type: (___ Electric) (___ Oil) (___ Gas) or (___ Other: ____________________________)

XII. HEATING AND AIR CONDITIONING 98. How many heating and/or air conditioning zones are in the property? ________. If more than one, indicate

the zone number next to each answer in this section and provide the answer for each zone. 99. What is the type of heating system and fuel? (e.g., System: forced air, heat pump, hot water, baseboard. Fuel: oil, gas, electric, solar etc.) System: __________________________ Fuel: ___________________________ 100. Age of furnace? ______________________ Date of last service? ______________________________

101. Are there any contractual obligations affecting the fuel supply, tanks, or systems? If Yes, describe in XVI. 102. What is the type of air conditioning system? (e.g., central, units) ________________________________ 103. Age of air conditioning system? ___________________ Date of last service? _____________________

104. Have there been any additions / upgrades to the original heating or air conditioning? If Yes, describe in XVI. 105. If question 104 is Yes, was work done by a licensed contractor? 106. Are there any problems with the heating or air conditioning systems? If Yes, describe in XVI.

XIII. ELECTRICAL SYSTEM107. What type of wiring (copper, aluminum, other, etc.) is in the house? ____________________________ 108. What amp service does it have?(___ 60) (___ 100) (___ 150) (___ 200) (___ Other: ____________) Do you have (___ Circuit Breakers) or (___ Fuses) ?

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Yes No ** Write in U if Unknown or NA if Not Applicable, otherwise mark either the Yes or No column. Where selections are requested, place a check mark next to each correct answer or fill in the correct answer. Certain answers require a further explanation in Section XVI.

109. Do you have any 220/240-volt circuits? 110. Do fuses blow or circuit breakers trip when two or more appliances are being used at the same time? If Yes,

describe in XVI. 111. Have there been any additions to the original service? 112. Have any (___ solar) and/or (___ wind power) enhancements been made to supplement service? 113. If Yes to question 111 or 112, was work done by a licensed electrician? 114. Are there wall switches, light fixtures or electrical outlets in need of repair? If Yes, explain in XVI. 115. Are the permits associated with questions 58, 85, 105, and 113 closed?

XIV. FIREPLACE OR HEATING STOVE 116. Fireplace Type: (___ Wood Burning) (___ Gas) (___ Insert) (___ Other: ______________________)? 117. Heating Stove type: (___ Wood Burning) (___ Pellet) (___ Other ____________________________)? 118. Was the fireplace or heating stove part of the original house design? 119. Was the fireplace or heating stove installed by a professional contractor or manufacturer’s representative? 120. Are there any problems? If Yes, explain in XVI. 121. When were the flues / chimneys last cleaned, serviced or repaired? _____________________ Explain

nature of service or repair in XVI.

XV. MAJOR APPLIANCES AND OTHER ITEMS

(A) Are the following items in working order? Indicate NA if the item does not exist or if the item will not convey with the property. Note: The Agreement of Sale will specify and govern what is included or excluded.

Items Yes No NA Items Yes No NA Items Yes No NA Oven or Range Window A/C Units Draperies/Curtains Cooktop Smoke Detectors Drapery/Curtain Rods Wall Oven(s) Fireplace Equipment Shades/Blinds Refrigerator(s) Fireplace Screen/Doors Cornices/Valances Icemaker Electronic Air Filter Sheds/Outbuildings Freezer Attic Fan Playground Equipment Dishwasher Whole House Fan Wood Stove Disposal Window Fan(s) Satellite Dish Microwave Ceiling Fan(s) Satellite Dish Controls &

Remote(s)

Washer Central Vacuum Fuel Storage Tank(s) owned Clothes Dryer Intercoms Fuel Storage Tank(s) leased Bathroom Vents/Fans Solar Equipment Security Systems owned Trash Compactor Attached Antenna/Rotor Security Systems leased Water Conditioner owned Range Hood-Exhaust

Fan Fire Detecting Equipment owned

Water Conditioner leased Garage Opener(s) Fire Detecting Equipment leased Water Filter Garage Opener Remotes Other Items: Water Heater Pool Equipment Sump Pump Pool cover Storm Windows/Doors Hot Tub, Equipment Screens Hot Tub Cover Furnace Humidifier Furnace De-Humidifier

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XVI. ADDITIONAL INFORMATION�

If you were directed to this section to clarify an answer or if you indicated there is a problem with any of the items in sections I through XV, provide a detailed explanation below or on additional sheet(s).

QuestionNumber Additional Information

(B) Are you aware of any problems affecting these area? If Yes, describe in XVI.

Yes No NA Yes No NA

Ceilings Exterior and Interior Walls Floors Windows Patios / Decks / Porches

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Are there additional problem/clarification sheets attached? ___ No ___ Yes ______ Number of Sheets Attached?

ACKNOWLEDGMENT OF SELLER

Seller has provided the information contained in this Report. This information is to the best of Seller’s knowledge and belief, complete, true and accurate. Seller has no knowledge, information or other reason to believe that any defects or problems with the property have been disclosed to or discussed with any Real Estate Agent or Broker involved in the sale of this property other than those set forth in this Report. Seller does hereby indemnify and hold harmless any Real Estate Agents involved in the sale of this property from any liability incurred as a result of any third-party reliance on the disclosures contained herein or on any subsequent amendment hereto. Seller’s Broker and / or Cooperating Broker, if any, is / are hereby authorized to furnish this Report to any prospective Buyer. This is a legally binding document. If not understood, consult an Attorney.

SELLER _______________________Date___________SELLER _______________________ Date___________

Date the contents of this Report were last updated: ____________________________

ACKNOWLEDGMENT OF BUYER

I am relying upon the above Report and statements within the Agreement of Sale as the representation of the condition of property, and not relying upon any other information about the property. I have carefully inspected the property. I acknowledge that Agents are not experts at detecting or repairing physical defects in property. I understand there may be areas of the property of which Seller has no knowledge and this Report does not encompass those areas. Unless stated otherwise in my contract with Seller, the property is real estate being sold in its present condition, without warranties or guarantees of any kind by Seller or any Agent. I have read and received a signed copy of this Report. I may negotiate in my Agreement of Sale for other professional advice and / or inspections of the property. I understand there may be projects either planned or being undertaken by the State, County or Local Municipality which may affect this property of which the Seller has no knowledge. I further understand that it is my responsibility to contact the appropriate agencies to determine whether any such projects are planned or underway. If I do not understand the impact of such project(s) on the property I am purchasing, I should consult my Attorney. I understand that before signing an Agreement of Sale, I may review the applicable Master Plan or Comprehensive Land Use Plan for the County and / or appropriate City or Town Plans showing planned land uses, zoning, roads, highways, locations and nature of current or proposed parks and other public facilities. This is a legally binding document. If not understood, consult an Attorney.

BUYER _______________________ Date____________ BUYER _______________________ Date__________�

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Seller (s) Name: ______________________________________________________________________

Property Address: ____________________________________________________________________

When Was the Home Completed: __________________ Date Purchased: ______________________

Chapter 25, Title 6 of the Delaware Code,�requires a Seller of residential property to disclose in writing all material defects of the property that are known at the time the property is offered for sale or that are known prior to the time of final settlement. Residential property means any interest in a property or manufactured housing lot, improved by dwelling units for 1-4 families. The disclosure must be made on this Report, which has been approved by the Delaware Real Estate Commission, and shall be updated as necessary for any material changes occurring in the property before final settlement. This Report shall be given to all prospective Buyers prior to the time the Buyer makes an offer to purchase. This Report, signed by Buyer and Seller, shall become a part of the Agreement of Sale. This Report is a good faith effort by the Seller to make the disclosures required by Delaware law and is not a warranty of any kind by the Seller or any Agents or Sub-Agents representing Seller or Buyer in the transfer and is not a substitute for any inspections or warranties that the Seller or Buyer may wish to obtain. The Buyer has no cause of action against the Seller or Real Estate Agent for material defects in the property disclosed to the Buyer prior to the Buyer making an offer; material defects developed after the offer was made but disclosed in an update of this Report prior to settlement, provided Seller has complied with the Agreement of Sale; or material defects which occur after settlement. State websites containing helpful information include: Office of State Planning Coordination www.stateplanning.delaware.gov, Delaware Department of Natural Resources and Environmental Control www.dnrec.delaware.gov, Delaware Division of Public Health www.dhss.delaware.gov/dhss/dph,Delaware State Police Sex Offender Registry www.state.de.us/dsp and other agencies listed on www.delaware.gov.

Yes No ** Write in U if Unknown or NA if Not Applicable, otherwise mark either the Yes or No column. Where selections are requested, place a check mark next to each correct answer or fill in the correct answer. Certain answers require a further explanation in Section VIII.

I. OCCUPANCY

1. Has a certificate of occupancy been issued? If Yes, when___________________________________. 2. If # 1 is Yes the Seller must complete the full version of the Seller’s Disclosure of Real Property Condition Report instead of this New Construction Only version. If # 1 is No and a certificate of occupancy is issued after this disclosure is completed and prior to Seller receiving an Agreement of Sale from Buyer, Seller will provide Buyer with the full version of the Seller’s Disclosure of Real Property Condition Report instead of this New Construction Only version.

3. Is the property encumbered by a (___ lease), (___option to purchase), or (___first right of refusal)?

II. DEED RESTRICTIONS, HOMEOWNERS ASSOCIATIONS/CONDOMINIUMS AND CO-OPS

4. Is the property subject to any deed restrictions? 5. Is the property part of a condominium or other common ownership? 6. If # 5 is Yes, Seller warrants that the property (____ is) or (___ is not) exempt from providing the buyer with a Public Offering Statement as described in §81-401 or §81-403(b) of Chapter 81, Title 25 of the Delaware Code, The Delaware Uniform Common Interest Ownership Act. If not exempt, in compliance with §317A of Chapter 3, Title 25, Seller has attached a copy of all documents in the chain of title that create any financial obligation for the buyer, and a written summary of all financial obligations created by documents in

SELLER’S DISCLOSURE OF REAL PROPERTY CONDITION REPORT NEW CONSTRUCTION ONLY

State of Delaware Approved by the Delaware Real Estate Commission (effective 1/1/2011)

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Yes No ** Write in U if Unknown or NA if Not Applicable, otherwise mark either the Yes or No column. Where selections are requested, place a check mark next to each correct answer or fill in the correct answer. Certain answers require a further explanation in Section VIII.

the chain of title. As evidenced by signature below, buyer has received a copy of these documents. 7. Is there a (___Homeowners Association), (___Condominium Association), (___Civic Association), or

(___Maintenance Corporation) included in the deed? 8. If # 7 is Yes, are there any (___fees), (___dues), (___assessments) or (___bonds) involved?

If Yes, how much? _____________________________ Are they (___ Mandatory) or (___Voluntary)? 9. Is there any defect, damage, or problem with any common elements or common areas? If Yes, describe in

VIII. 10. Is there any condition or claim, which may result in an increase in assessments or fees? If Yes, describe in

VIII. 11. Name of Association Representative: _____________________________________________________ Phone # _________________________________

12. Are you aware of any unusual bonds or assessments for improvements that apply to this property or the surrounding area? If Yes, describe in VIII.

13. Is the property subject to any agreements concerning affordable housing or workforce housing?

III. TITLE / ZONING INFORMATION

14. Are you aware of any right-of-ways, easements or similar matters that may affect the property? If Yes, describe in VIII. 15. Are you aware of any shared maintenance agreements affecting the property? If Yes, describe in VIII. 16. Are you aware of any variance, zoning, non-conforming use, or setback violations? If Yes, describe in VIII.

� 17. Has the variance or non-conforming use expired or would not be transferable? If Yes, describe in VIII. � 18. Are there any unpaid assessments? If Yes, indicate amount ___________________________. � 19. Do you have knowledge of any future assessments? If Yes, describe in VIII.

IV. MISCELLANEOUS

20. Are you aware of any existing or threatened legal action affecting this property? If Yes, describe in VIII. 21. Do you know of any violations of local, state or federal laws or regulations relating to this property? If Yes, describe in VIII. 22. Are you aware of anything else you should disclose to a prospective Buyer because it may materially and adversely affect the property? If Yes, describe in VIII. 23. What is the type of trash disposal? (___ Private) (___ Municipal) or (___Other____________________) . 24. The cost of repairing and paving the streets adjacent to the property is paid for by: _____ The property owner(s), estimated fees: $ ____________________________________________ _____ Delaware Department of Transportation or the State of Delaware _____ Unknown Note to Buyer: Repairing and repaving of the streets can be very costly. (6 Delaware Code§ 2578)

25. Is off street parking available for this property? If Yes, number of spaces available: _________________

V. ENVIRONMENTAL HAZARDS 26. Are you aware of any present or previous underground storage tanks (UST) or toxic substances present on

this property (structure or soil) such as PCB’s, solvents, hydraulic fluid, petro chemicals, hazardous wastes, or others? If Yes, describe in detail in section VIII.

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VIII. ADDITIONAL INFORMATION

If you were directed to this section to clarify an answer or if you indicated there is a problem with any of the items in sections I through VII, provide a detailed explanation below or on additional sheet(s).

QuestionNumber Additional Information

VI. LAND (SOILS, DRAINAGE AND BOUNDARIES) 27. Is there any fill or expansive soil on the property? 28. Do you know of any sliding, settling, earth movement, upheaval or earth stability problems that have

occurred on the property or in the immediate neighborhood? If Yes, describe in VIII. 29. Is the property located in a flood zone? 30. Do you know of any encroachments, boundary line disputes, or easements affecting the property? If Yes,

describe in VIII. 31. Are there any tax ditches crossing or bordering the property? 32. Is any part of the property considered wetlands?

VII. PLUMBING-RELATED ITEMS

33. What is the type of sewage system? (___ Public Sewer) (___ Community Sewer) (___ Septic System) 34. If septic, type: (___ Gravity Fed) (___ Capping Fill) (___ LPP) (___ Mound) (____ Holding Tank) (___ Other: _______________________________________________________________________) 35. What type of plumbing (copper, lead, cast iron, PVC, polybutylene, galvanized) is in the house? 1. Water supply _________________________ 2. Drainage ____________________________ 36. Is there a wastewater spray irrigation system installed on or adjacent to the property? 37. What is the drinking water source? _______________________________________________________. 38. If drinking water supplied by utility, name of utility: _________________________________________. 39. Are there any (___sewer $___________) or (___water $____________) connection charges to be paid by the buyer?

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Are there additional problem/clarification sheets attached? ___ No ___ Yes ______ Number of Sheets Attached.

ACKNOWLEDGMENT OF SELLER

Seller has provided the information contained in this Report. This information is to the best of Seller’s knowledge and belief, complete, true and accurate. Seller has no knowledge, information or other reason to believe that any defects or problems with the property have been disclosed to or discussed with any Real Estate Agent or Broker involved in the sale of this property other than those set forth in this Report. Seller does hereby indemnify and hold harmless any Real Estate Agents involved in the sale of this property from any liability incurred as a result of any third-party reliance on the disclosures contained herein. Seller’s Broker and / or Cooperating Broker, if any, is / are hereby authorized to furnish this Report to any prospective Buyer. This is a legally binding document. If not understood, consult an Attorney.

SELLER _______________________Date___________SELLER _______________________ Date___________

Date the contents of this Report were last updated: ____________________________

ACKNOWLEDGMENT OF BUYER

I understand there may be areas of the property of which Seller has no knowledge and this Report does not encompass those areas. I have read and received a signed copy of this Report. I understand that before signing an Agreement of Sale, I may review the applicable Master Plan or Comprehensive Land Use Plan for the County and / or appropriate City or Town Plans showing planned land uses, zoning, roads, highways, locations and nature of current or proposed parks and other public facilities. This is a legally binding document. If not understood, consult an Attorney.

BUYER _______________________ Date____________ BUYER _______________________ Date__________

Form Approved by Delaware Real Estate Commission September 12, 2007

Property Address: ____________________________________________________________

Seller’s DisclosureDelaware law requires that the seller of any interest in residential real property that includes a dwelling must provide the buyer with any information about any known radon. Sellers also must disclose any tests or inspections for radon in the seller’s possession.

The seller(s) must answer the following questions and provide the required information:

1. Are you aware of the presence of radon in the property identified above? Yes No (circle one)

2. Are you aware of any radon tests or inspections that have been performed on the property identified above? Yes No (circle one)

3. If you responded “yes” to Question 2 above, have you provided the buyer(s) with copies of all radon tests and/or inspection reports in your possession? Yes No (circle one)

4. Identify each report referred to in Question 3, including the date of each report:

By signing this form, the seller(s) acknowledge(s) the following:

I/we have been informed of my/our obligation and am/are aware of my/our responsibility to comply with Delaware law regarding radon disclosure, as provided in Title 6, Chapter 25, Section 2572A of the Delaware Code.

Seller Date Seller Date

Buyer’s Acknowledgement Delaware law requires that every buyer of any interest in residential real property that includes a dwelling must be notified that the property may present the potential for exposure to radon.

By signing this form, the buyer(s) acknowledge(s) the following:

1. I/we have received the Radon Rights, Risks and Remedy for Home Buyer document, which describes the potential hazards of exposure to radon, testing for radon and remediation.

2. I/we have the option to have the property identified above tested for radon.

3. I/we have received copies of all radon tests and/or inspection reports identified in Item 4 of the Seller’s Disclosure above.

Buyer Date Buyer Date

RADON DISCLOSURE Required by Chapter 25, Title 6, Section 2572A of the

Delaware Code

What are my rights regarding radon and purchasing a home? A buyer of a home in Delaware has the right to know if the property has been tested for radon and the results of that testing. This will be provided to you by a home seller on a Radon Testing and Disclosure form. The buyer also has the right to have the property tested for radon prior to settlement. The testing request can be added to an offer to purchase as a radon contingency.

What is radon? Radon is a radioactive gas. It is colorless, odorless, tasteless, and chemically inert. Unless a test is performed, there is no way to determine if and how much radon might be present in a home. It is formed by the natural radioactive decay of uranium in rock, soil, and water. Low levels of uranium occur widely in Earth's crust and can be found in all 50 states. Once produced, radon moves through the ground to the air above.

What health effects are associated with radon exposure? The Surgeon General has warned that radon is the second leading cause of lung cancer in the United States. There is currently no conclusive data on whether children are at greater risk than adults from radon. If you smoke and you are exposed to elevated radon levels, your risk of lung cancer is elevated further.

What is the "acceptable" level of radon in air? Since radon is a known human carcinogen, the U.S. Environmental Protection Agency (EPA) states that any radon exposure carries some risk. EPA recommends homes be fixed if an occupant's long-term exposure will average 4 picocuries per liter (pCi/l) or higher.

Why should I test my home for radon? Any home could have radon. Nearly one out of every 12 homes in Delaware has a radon level of 4 pCi/L or greater. The chances of elevated radon are greater in the northern half of the state and slightly lower in the southern half. The U.S. average radon-in-air level in single family homes is 1.3 pCi/L. Outdoor air that is drawn into a home can contribute to the indoor radon level. The average outdoor air level is about 0.4 pCi/L and higher in some areas. The way to know if your home, or the home you wish to purchase, has radon is to test.

What can be done to reduce radon in a home? There are several methods that a contractor can use to lower radon levels in your home. In most cases, simple systems using an underground pipe and an exhaust fan are used to reduce radon. Such systems called “sub-slab depressurization” do not require major changes to your home. These systems remove radon gas from below the home and vent it above the roof where it is quickly diluted. Similar systems can also be installed in houses with crawl spaces. Radon contractors use other methods that may also work in your home.

For additional information, visit the following websites:

Delaware Division of Public Health www.dhss.delaware.gov/dhss/dph/hsp/healthyhomesradon.html Environmental Protection Agency www.epa.gov/radon/ National Safety Council www.nsc.org/library/facts/radon/htmWorld Health Organization www.who.int/mediacentre/factsheets/fs291/en/ National Cancer Institute www.cancer.org/cancertopics/factsheet/Risk/radon

Or you may contact the Delaware Division of Public Health, Health Systems Protection, Radon Program, located at 417 Federal Street, Dover, DE 19901; phone (302) 744-4546.

RADON Rights, Risks and Remedy for the Home BuyerThis information has been compiled by the Delaware Department of Health and Social Services’ Division of Public Health (DPH) in conjunction with the Delaware Real Estate Commission to comply with Chapter 25, Title 6, Delaware Code §2572A - Radon Testing and Disclosure.

Seller (s) Name: ______________________________________________________________________

Property Address: ____________________________________________________________________

Approximate Age of Buildings(s): __________________ Date Acquired: _______________________

Chapter 25, Title 6 of the Delaware Code,�requires a Seller of residential property to disclose in writing all material defects of the property that are known at the time the property is offered for sale or that are known prior to the time of final settlement and to provide a Buyer with a radon disclosure. Residential property means any interest in a property or manufactured housing lot, improved by dwelling units for 1-4 families.

The SELLER’S DISCLOSURE OF REAL PROPERTY CONDITION REPORT and RADON DISCLOSURE shall not apply to the following transfers of residential real property. Chapter 25, Title 6, §2577.

SELLER(s) has circled each item number below that qualifies the property for exemption.

1. Transfers by a fiduciary in the course of the administration of the decedent's estate, guardianship or trust. 2. Transfers pursuant to court order such as transfers ordered by the Court of Chancery in the administration of an

estate, trust or guardianship or pursuant to a Writ of Execution, by a trustee in bankruptcy or a receiver, by eminent domain, and transfers resulting from a decree for specific performance.

3. Transfers to a mortgagee by a mortgagor in default by a deed in lieu of foreclosure. 4. Transfers by any sheriff's sale for default on an obligation secured by a mortgage, judgment, tax or other lien. 5. Transfers from one co-owner to one or more other co-owners. 6. Transfers made to a spouse or to a person or persons in the lineal line of consanguinity of one or more of the

transferors. 7. Transfers between spouses resulting from a property settlement incident to a divorce. 8. Transfers to or from any government entity. �

�Where the transaction that is the subject of these disclosures involves a Delaware licensed Broker or Salesperson, the Buyer and Seller shall sign the following certification:

By signing below, Seller certifies that one or more of the above exemptions are applicable to this property. Buyer acknowledges that the Seller’s disclosures are not required, as set forth in Chapter 25, Title 6, §2577.

SELLER ________________________Date ___________SELLER _______________________Date __________

BUYER _________________________Date ___________BUYER________________________Date __________

DREC�Approved�8/14/08�

SELLER’S DISCLOSURE OF REAL PROPERTY CONDITION REPORT AND RADON DISCLOSURE

EXEMPT PROPERTY CERTIFICATION State of Delaware

Approved by the Delaware Real Estate Commission (Effective 9/1/08)

©Copyright 2009 by Delaware Association of REALTORS®. All Rights Reserved. Last Modified August 2013. This form has been created exclusively for the use of the association members and those with written permission. The use of this form for any transaction that does not involve the participation of an association member is strictly prohibited and is in violation of Federal Copyright laws.

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EXCLUSIVE RIGHT TO SELL LISTING AGREEMENT

1. BROKER.____________________________________________________________________________________________,in consideration of diligent services to be performed is granted the exclusive right to sell my/our property identified in paragraph #3 herein from effective date as stated on the last page of this Agreement.

2. SELLER NAME & MAILING ADDRESS.

___________________________________________________________________________________________________________

___________________________________________________________________________________________________________

Email Address:_______________________________________________________________________________________________

Primary Phone:________________________________________ Secondary Phone:________________________________________

3. PROPERTY DESCRIPTION. TAX PARCEL #_____________________________________________ being situated in

______________________County, Delaware and further identified as___________________________________________________

___________________________________________________________________________________________________________INCLUSIONS/EXCLUSIONS: Unless specifically excluded by this Agreement the listed price shall also include the following, as and if now installed, stored in, or located on the Property: all presently existing plumbing, heating, electrical and central air conditioning systems; and all other permanent or attached fixtures including but not limited to, all existing shutters, awnings, wall to wall carpeting, radiator covers, cabinets, shelves, mirrors fixed in place, attic/exhaust fans, lighting and plumbing fixtures, and landscaping. Certain other now existing items which may be considered personal property, whether installed or stored upon the Property are included, as follows: (If neither column is checked, item shall be considered excluded.) Should the Sellers Disclosure of Real Property Condition Report differ from the below list of included items, the below list shall supersede; however, the Agreement of Sale will be the final list of what is included or excluded.

YES NO YES NO YES NO� � Range with oven� � Range Hood-exhaust fan� � Cooktop-stand alone� � Wall Oven(s) #___� � Kitchen Refrigerator � � with icemaker � � Refrigerator(s)-additional #____� � Freezer –free standing � � Ice Maker-free standing � � Dishwasher � � Disposal � � Microwave� � Washer� � Dryer� � Trash Compactor� � Water Filter� � Water Heater� � Sump Pump� � Storm Windows/Doors� � Screens

� � Draperies/Curtains� � Drapery/Curtain rods � � Shades/Blinds� � Cornices/Valances� � Furnace Humidifier� � Smoke Detectors� � Carbon Monoxide Detectors� � Wood Stove� � Fireplace Equipment� � Fireplace Screen/Doors� � Electronic Air Filter� � Window A/C Units #_____� � Attic fan� � Whole house fan� � Bathroom Vents/Fans� � Window Fan(s) #_____ � � Ceiling Fan(s) #_____ � � Central Vacuum � � with attachments� � Intercoms� � Satellite Dish� � with controls & Remote(s)

� � Wall Mounted Flat Screen TV #____� � Wall brackets for TV #______� � Surround sound system & controls� � Solar Equipment � � Attached Antenna/Rotor � � Garage Opener(s) #_______� � with remote(s) #_______� � Pool Equipment� � Pool cover � � Hot Tub, Equipment� � with cover� � Sheds/Outbuildings #____� � Playground Equipment� � Irrigation System

� � Water Conditioner (owned)� � Water Conditioner (leased)� � Fuel Storage Tank(s) (owned)� � Fuel Storage Tank(s) (leased)� � Security/Monitoring Systems (owned)� � Security/Monitoring Systems (leased)

©Copyright 2009 by Delaware Association of REALTORS®. All Rights Reserved. Last Modified August 2013. This form has been created exclusively for the use of the association members and those with written permission. The use of this form for any transaction that does not involve the participation of an association member is strictly prohibited and is in violation of Federal Copyright laws.

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Additional Inclusions (Not previously checked):

_____________________________________________________________________________________________________________

_____________________________________________________________________________________________________________

_____________________________________________________________________________________________________________

Additional Exclusions (Not previously checked) :

_____________________________________________________________________________________________________________

_____________________________________________________________________________________________________________

_____________________________________________________________________________________________________________

4. LEASE CONDITION. Is Property sold subject to any existing lease/rental agreements? Yes � No �

5. LISTED PRICE. The listed price of the property is: $_____________________ unless modified in writing by Seller.

6. POSSESSION. Possession is to be conveyed at time of settlement or on such other date agreed to by Seller and Buyer.

7. TERMINATION. This Agreement will expire at 11:59pm ______________________ 20 _____. Broker shall not be obligated to continue to market the property after an offer has been accepted by the Seller. In the event an agreement of sale is ratified during the term of this Exclusive Right To Sell Listing Agreement which subsequently becomes null and void prior to the termination date herein, the Broker shall continue to market the property for the duration of this Agreement and any extension thereof. Should any agreement of sale ratified during the term of this Exclusive Right to Sell Listing Agreement not settle until after the Termination date herein, any Brokerage Fee due Broker under this Listing Agreement shall remain due to Broker no later than the date of final settlement.

8. CANCELLATION. Either party may cancel this Agreement upon________ days written notice after ________days from effective date.

9. BROKERAGE FEE. Seller agrees to pay Broker a commission of _____________ (% of the selling price and/or $) for services rendered, if, during the term of this Agreement (or extension): (1) Broker produces Buyer ready, willing and able to purchase subject property at the listed price/terms contained in this Agreement or other price/terms acceptable to Seller; or (2) subject property is sold or exchanged by any other Broker or person whomsoever including Seller. The Brokerage Fee will also be due Broker in the event subject property is sold, conveyed, or otherwise transferred by Seller within ___________ days after termination of this Agreement to a Buyer introduced to subject property by Broker or other cooperating Broker during the term of this Agreement. (This provision does NOT APPLYin the event subject property is listed with another Broker at time of sale).

10. CO-OPERATION. Broker is authorized to offer cooperation and compensation from Brokerage fee to other Brokers as a Buyer(s) Agent with the Broker/Agent representing the Buyer of the property. Broker is ____ is not ____ authorized to offer cooperation and compensation to other Brokers as subagents. Compensation to other Brokers: _________________ (% of the selling price and/or $) 11. EXCLUSIVE RIGHT TO SELL. During the term of this Agreement, or any extension(s) thereof, Seller agrees not to sell or negotiate for the sale of subject property except through Broker designated herein, nor give any other Broker, firm, or person authorization to sell or negotiate for the sale of subject property.

12. DISBURSEMENT OF DEPOSITS. The Seller acknowledges and agrees that deposit monies held on account by Broker shall only be disbursed under one of the following conditions:

A. Upon final settlement hereunder; ORB. Upon a release being signed by all parties to the transaction authorizing disposition of these funds; ORC. Upon the filing of an interpleader action in the proper court, thereby causing these funds to be deposited with the court; ORD. At such time as one of the parties to the transaction files suit and the court orders the disbursement of these funds.

Seller agrees that upon payment of deposit monies into court, Seller shall have no further right, claim, demand or action against Brokerregarding the return or disposition of the deposit monies and shall indemnify and hold Broker harmless from any and all such rights, claims, demands or actions. In the event of a dispute, and after no less than fifteen (15) days advance notice delivered by certified mail to the parties of the disputed transaction at the addresses identified in the Agreement of Sale, should Broker elect to file an action of interpleader as herein provided, Seller further agrees and hereby expressly and irrevocably authorizes Broker to deduct from the Deposit all costs incurred by Broker in the filing and maintenance of such action of interpleader including but not limited to filing fees, court costs, service of process fees and attorneys’ fees, provided that the amount deducted shall not exceed the lesser of Five Hundred Dollars ($500) or the amount of the Deposit held by Broker. All such fees and costs authorized herein to be deducted may be deducted by Broker from the Deposit prior to paying the balance of the Deposit to the court. Seller further agrees and expressly declares that all such fees and costs so deducted shall be the exclusive property of Broker. If the amount deducted by Broker is less than the total of all of the costs incurred by Broker in filing and maintaining the interpleader action, then Seller agrees to jointly with Buyer reimburse Broker for all such excess costs upon the conclusion of the interpleader action.

©Copyright 2009 by Delaware Association of REALTORS®. All Rights Reserved. Last Modified August 2013. This form has been created exclusively for the use of the association members and those with written permission. The use of this form for any transaction that does not involve the participation of an association member is strictly prohibited and is in violation of Federal Copyright laws.

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13. SELLER REPRESENTATION.A. Seller warrants that the information in this Agreement is true and correct to the best of Seller’s knowledge and belief, and may be used as a basis for presenting the Property to prospective Buyers. B. Seller shall indemnify and hold Broker harmless from any claim, damages, judgment, and costs, expressly including reasonable attorney fees, arising out of or from any occurrence incident to any mistake, exaggeration, omission, inaccuracy of said information, or escrow dispute, including any omission or inaccuracy on applicable disclosure documents.C. Seller hereby agrees to conduct all negotiations pertaining to the sale of the Property through the Broker and cooperate with the

Broker fully in the Broker’s efforts to sell the Property. D. Seller further understands and agrees that Seller, and not the Broker, is responsible for the care and physical condition of the Property, its management, maintenance, and repair. E. Seller acknowledges reading and signing the Consumer Information Statement of the Delaware Real Estate Commission.

14. SELLER OBLIGATIONS.A. Seller will convey to Buyer a good, marketable, fee simple title by deed of special warranty, or assignment of Leasehold estate and/or title to manufactured home, as applicable, free and clear of encroachments that would be shown by a survey, liens, and encumbrances of record, but subject to all existing easements and restrictions of record.B. Seller agrees to execute any agreement, deed, leasehold interest assignment or other document(s) necessary to fulfill this Agreement. As appropriate, such documents will contain covenants of warranty conveying good and marketable title to Buyer. Evidence of marketable title may be in the form of a Policy of Title Insurance obtained at expense of Buyer. In the event a title examination discloses title is imperfect and marketable title cannot be delivered by Seller within a reasonable time, Broker will nevertheless be entitled to the full agreed commission provided herein.C. Seller agrees to furnish Broker such documents as necessary and reasonable to bring about the sale of subject property, such as, but not limited to: proof of ownership, tax records, property income/expense records, existing rental/lease agreements, any current well &/or septic inspection reports, and similar documents, and authorizes the Broker to give this information to prospective Buyers.D. Taxes, special assessments, water, sewer, and other public charges, ground rent, condominium fees, rental monies, fuel, public utility charges and other fixed charges are to be prorated as of date of settlement unless otherwise designated herein. Selleracknowledges realty transfer tax obligation as applicable.C. Seller grants Broker permission to use a house key and/or a keyed combination, or electronic lockbox for the purpose of entering and exiting the Property for showings and inspections. D. Seller agrees to refer to Broker all inquiries of Brokers, Agents or others expressing interest in Seller’s property.E. If applicable, Seller warrants to Broker and all potential Buyers that all known defects contained in the Property have been fully, accurately, and truthfully disclosed in writing to the best knowledge of the Seller on any Sellers Disclosure of Real Property Condition Report, Radon Disclosure Form, Lead Based Paint Disclosure, or any other applicable disclosure forms, and that no defects have been communicated to the Broker by Seller, either verbally or in writing, that are not contained on those forms. Broker is authorized to convey the aforementioned disclosures to prospective Buyer.F. Sale may be contingent on Buyer obtaining mortgage financing which may be contingent upon inspections and/or appraisals required by the lender. In this event, Seller agrees to permit access to the Property at reasonable times for such purpose and will insure that all utilities are on for all inspections until time of settlement.

15. SELLER ACKNOWLEDGMENT.A. Seller recognizes that persons not under the control of Broker, such as other Brokers, other Broker’s Salespersons, prospectiveBuyers and experts retained by prospective Buyers may come into Seller’s house and property without Broker’s supervision through the use of a lockbox and/or key. Seller is cautioned to safeguard their valuable possessions so as to avoid theft or damage. Broker will in no way be responsible for any injury to prospective Buyers, inspectors or appraisers that occur on the Property or any loss or damage to Seller’s Property. B. Seller agrees to indemnify and hold harmless Broker, Broker’s salespersons, Cooperating Brokers, their associated Salespersons, the State or local Associations of REALTORS®, and experts retained by a Buyer or prospective Buyer, from and against any and all claims or damages, including their reasonable attorney’s fees and costs, arising out of the use of a lockbox and/or key, including but not limited to, claims for loss of property or for injury to persons or property. Seller shall maintain fire and liability insurance until the time of settlement. Seller agrees that Broker is not responsible for fire, vandalism, theft, damage or destruction of any nature caused by others during the term of this Agreement.C. Seller hereby acknowledges that the listing Agent may take interior and exterior photographs, prepare virtual tours, and/or use other media for the purpose of advertising the property, including multiple listing services and the internet. Under certain circumstances, aBuyer accompanied by an Agent may record images of the property for purposes of facilitating a sale. Broker cannot control unauthorized use of digital or social media.D. Seller authorizes Broker to show the property to prospective Buyers and to place a “for sale” sign on the property. Once the property is under an Agreement of Sale, Broker may display a “sale pending/sold” sign on property until date of final settlement. All signs will be removed upon termination of this Agreement.

16. BROKER AUTHORIZATION.A. Broker is authorized to accept and hold in escrow a deposit to apply towards purchase price. In the event the deposit is forfeited,

one-half will be paid to Seller and one-half paid to Broker as compensation, provided Broker’s share does not exceed agreed commission amount.B. All advertising, which may include, but is not limited to, magazines, newspapers, internet, signs, and other promotional vehicles,

deemed advisable by Broker, is hereby authorized by Seller, and unless otherwise specified, shall be paid by Broker.

©Copyright 2009 by Delaware Association of REALTORS®. All Rights Reserved. Last Modified August 2013. This form has been created exclusively for the use of the association members and those with written permission. The use of this form for any transaction that does not involve the participation of an association member is strictly prohibited and is in violation of Federal Copyright laws.

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C. Broker is authorized to submit the property and related documents to any Multiple Listing Service in which Broker is a participant. Broker is authorized to report that the property is under contract when Owner enters into an agreement of sale and to report all sales information including the sale price and terms with the understanding that the sale price and terms will not be published before settlement.D. When submitting the property to any Multiple Listing Service, Broker shall disseminate property information in conformity with the

Seller’s instructions below. The Seller may elect to Opt Out of any of the following provisions by checking NO in the corresponding box:

a.� Yes � No The Seller authorizes the listed property to be displayed on the Internet.b.� Yes � No The Seller authorizes the numerical address of the listed property to be displayed on the Internet.c.� Yes � No The Seller authorizes the automated valuation of the listed property.d.� Yes � No The Seller authorizes the blogging features associated with the listed property.

Seller understands and acknowledges that if they answer NO to question (a) above, consumers who conduct searches for listings onthe Internet will not see information about the listed property in response to their searches. Seller further understands and acknowledges that certain data may be made available on the internet through other sources which the Broker and local MLS cannot control.E. Broker is authorized to obtain descriptive and factual information from Seller about Property and to update such information as warranted. F. In addition the Broker will:

a. Receive delivery of, and present, offers and counteroffers.b. Assist the Seller in developing, communicating, negotiating and presenting offers, counteroffers and notices relating to offers and counteroffers.

c. Answer Seller’s questions relating to offers, counteroffers, notices, negotiations and contingencies.G. Seller is advised that prospective Buyers or cooperating Brokers may inquire of Broker or Broker’s Agents as to whether existing written offer(s) have been received for the purchase of the Property. The disclosure of the existence of written offer(s) could be either beneficial or detrimental to Seller. Such disclosure could result in the interested Buyer making the highest and best offer as promptly as possible, or, such disclosure could result in the interested Buyer electing not to make an offer, therefore, check only one box below;a. ______Seller does authorize the Broker or Broker's Agents to disclose the existence of other written offers in response to inquiries from prospective Buyers or cooperating Brokers.b. ______Seller does NOT authorize the Broker or Broker's Agents to disclose the existence of other written offers in response to inquiries from prospective Buyers or cooperating Brokers.c. ______ Seller will authorize Broker or Broker's Agent at the time a written offer is presented to seller as to how to proceed with the distribution of appropriate information related to the offer(s) upon inquiries from prospective Buyers or cooperating Brokers.

17. FAIR HOUSING. All Parties agree to comply with all Fair Housing and Civil Rights laws in the purchase and sale of the Property and further agree specifically not to discriminate against any person because of RACE, COLOR, NATIONAL ORIGIN, RELIGION, CREED, SEX, MARITAL STATUS, FAMILIAL STATUS, AGE, SEXUAL ORIENTATION, GENDER IDENTITY, and/orHANDICAP/DISABILITY.

18. HEIRS AND ASSIGNS. This Agreement is binding upon the parties’ respective heirs, personal representatives, successors and assigns.

19. ADDENDUMS. Any attached addendum(s) are only applicable if marked YES or checked. NO or a blank means Seller is waiving the opportunity to include the contingency or clause. If language in this Agreement and Addendum(s) are in conflict, unless otherwise provided herein, then the addendum(s) will supersede this Agreement.

____ _Seller’s Disclosure of Real Property Condition Report, unless exempt by State Law

____ _Lead Based Paint Disclosure Form, unless exempt by Federal Law

____ _Radon Disclosure Form, unless exempt by State law

____ _DUCIOA (Delaware Uniform Common Interest Ownership Act) Resale Certification Form

____ _Consumer Information Statement

____ _Septic Certification

____ _List of Lienholder(s)

_____Other__________________________________________________________________________________________________

_____Other__________________________________________________________________________________________________

20. HOMEOWNER’S WARRANTY. Seller is advised that a Homeowner’s Warranty may be available. A Homeowner’s Warranty is only part of this Agreement if Seller agrees to purchase a warranty. Seller is advised to request information about what is included in the warranty and what is excluded (for example, preexisting conditions) and the amount of the deductible.

©Copyright 2009 by Delaware Association of REALTORS®. All Rights Reserved. Last Modified August 2013. This form has been created exclusively for the use of the association members and those with written permission. The use of this form for any transaction that does not involve the participation of an association member is strictly prohibited and is in violation of Federal Copyright laws.

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21. SPECIAL TERMS.

___________________________________________________________________________________________________________

________________________________________________________________________________________________________

__ _________________________________________________________________________________________________________

_______________________________________________________________________________________________________

22. ENTIRE AGREEMENT. This Agreement constitutes the entire terms and provisions of this Exclusive Right to Sell Listing Agreement between Seller and Broker and may be used as a basis for presenting the property to prospective Buyer. If this Agreement is signed by more than one person, it shall constitute the joint and several obligations of each. This Agreement contains the entire agreement of the parties and cannot be changed except by their written consent. This Agreement shall survive execution and delivery of the Agreement of Sale and closing documents and shall not be merged therein. The singular forms “Seller” and “Buyer” are used in this Agreement solely as a convenience and is intended to include all parties who are Sellers and Buyers.

23. ACKNOWLEDGMENT. Seller acknowledges he/she has read, fully understands, and consents to this Exclusive Right to Sell Listing Agreement, and acknowledges receipt of a copy.

24. SELLER AUTHORITY. I/We hereby certify that I am/we are all the Seller(s) and am/are authorized to transfer the Property and hereby agree to the above terms, and that no other third party consent is necessary or has been omitted to execute this Agreement or convey the property and by signing below hereby agree to the above terms.

Seller ________________________________________________ Date _____________________________ 20 _________

Seller _______________________________________________ Date _____________________________ 20 _________

Seller _______________________________________________ Date ______________________________ 20 _________

Seller _______________________________________________ Date ______________________________ 20 _________

Broker Acceptance______________________________________________ Effective Date______________________________

Copyright 2009 Delaware Association of REALTORS®. All Rights Reserved. Last modified July 22, 2009. For use by REALTOR® members of the Delaware Association of REALTORS® only.

Short Sale Addendum to Listing Agreement

This Short Sale Addendum to Listing Agreement is made by and between

_______________________________________________________________________________________ (“Seller”)

And ___________________________________________________________________________________ (“Broker”)

for the Property known as: ________________________________________________________________ (“Property”)

1. Seller Acknowledgement of Short Sale: Seller acknowledges that sale of the Property may result in a short sale. A short sale occurs when the Seller’s net proceeds of sale are insufficient to satisfy all debts and obligations secured by liens on the Property as well as to pay Brokers’ fees, and other necessary and customary costs of sale on the Property, (collectively “Liens”) and the Seller is unable to bring sufficient funds to settlement to satisfy the holder(s) of the lien(s),(collectively referred to as Creditors). As such, Seller must receive approval from Creditors to accept Seller’s net proceeds of sale in exchange for releasing the liens. Seller acknowledges that Creditors’ approval of short sale may take weeks or months to obtain if at all, and that the Seller’s request for Creditors’ approval of a Short Sale does not preclude the Creditors from initiating or consummating foreclosure proceedings. Further, the Seller acknowledges that the probability of achieving a successful Short Sale is low and subject to variables over which the Broker has no control, including but not limited to Creditors decisions. 2. Short Sale Considerations: (a) Credit and Tax Considerations: A short sale may adversely affect the Seller’s credit score. In addition, even if Creditors agree to a short sale, they may not agree to forgive the debt entirely, and may require Seller to pay the difference as a personal obligation. If the loan is insured by the FHA or guaranteed by the VA, these entities may also require payment of the difference. A short sale in which a portion of the debt is forgiven may be considered a relief of debt and may be treated as income for tax purposes. The Seller is strongly advised to consult independent legal counsel and a professional tax advisor prior to entering into a contract that may result in a short sale. (b) Options: Seller acknowledges there may be disadvantages to a short sale. Seller is advised to explore other options with Creditors, such as loan modification, revised payment plan, refinance, bankruptcy, foreclosure, deed in lieu of foreclosure, or entry into a Creditors’ loan mitigation program, if available. 3. Creditors Approval: Seller acknowledges that any contract for sale of the Property shall be contingent upon the written approval of Creditors within a specified time period as negotiated between the Seller and Buyer of the Property and Seller agrees to include a written contingency in any contract which the Seller accepts which will require Creditors’ approval.4. Seller Cooperation: Seller agrees to diligently and in good faith cooperate with Broker and Creditors to obtain information regarding the amount owed on the Property and to obtain Creditors’ approval of the short sale. This includes, without limitation, granting Creditors permission to speak directly with Broker and promptly providing to Creditors all requested documentation, such as authorization and release forms, W-2 forms, bank statements, hardship letter, tax returns, and similar documentation. Seller hereby irrevocably and unconditionally authorizes Broker to contact and communicate with Creditors throughout the term of the Listing Agreement concerning the application by Seller for a Short Sale and the status of Creditors’ approval. 5. Authority to Disclose Existence of Short Sale: Seller is advised that prospective Buyers, Brokers and Agents are entitled to be advised that the Property is or may be a short sale and is subject to Creditors’ approval. Seller hereby authorizes Broker to include the disclosure of this information in the Multiple Listing Service, any advertising, and in any Agreement of Sale.6. Role of Broker: Seller acknowledges that Broker cannot provide legal, tax or financial advice. Broker may facilitate the transaction through communication with Creditors; however, Broker will not negotiate the terms and conditions of the short sale on behalf of the Seller. Seller or Seller’s legal/financial representative(s) are solely responsible for negotiating the payoff of debts. Seller agrees to indemnify and hold harmless Broker, its officers, principals, agents and employees from any liability that may arise from Broker’s facilitations of the transaction. Seller further acknowledges that Broker is not acting as a “foreclosure consultant” and has not promised to guarantee payments, guarantee to bring the loan(s) current or to stop a pending foreclosure sale.

______________________________________ ________________________________________ Seller Date _______________________________________ ________________________________________ Seller Date

_______________________________________ ________________________________________ Broker Date

Page 1 of 3

Delaware Statutes concerning Real Estate ContractsNotes from Andrew Taylor, Esq., 8 2002, 03, 04, 08, 10, 11, 12

Cooch and Taylor [email protected]. Many sections in Title 6, but here are some of the more important ones.

1. Age of Majority; capacity to contract. Age 18. 6 Del. C. '2705 and 25 Del C. §3122. Delaware Statute of Frauds. 6 Del. C. '27143. Buyer Property Protection Act (Seller=s Disclosure) 6 Del. C. Subchapter VII ''2570-2578 forms revised 1/1/20114. Campground Resorts Membership and Vacation Time Sharing Plans Sales Act. 6 Del.C. Subtitle II Chapter 28. 5. Building Construction Payments, 6 Del.C. Subtitle II, Chapter 35. 6. New Home Buyers Protection Act. 6 Del. C. Subchapter I. ''3601-3652 Provides for escrow of funds from seller of newly constructed residence when unfinished work exceeds 1 percent of the contract price.7. Home Owner=s Protection Act, for residential properties, 6 Del.C. Subchapter II Ch. 36, Subchapter II8. Home Solicitation Sales. 6 Del.C. Subtitle II Chapter 44 9. Fair Housing Act 6 Del. C. chapter 46, protects on 11 statuses. 10. What I call Plain English provisions. But only applies to $50,000 and less. 6 Del. C. Subchapter IV. ''2731-273611. Uniform Electronic Transactions Act (UETA) Title 6, Subtitle II, Chapter 12A12. Delaware Consumer Fraud Act. Title 6, Subtitle II, Chapter 25, Subchaper II13. Voluntary Alternative Dispute Resolution Act. Involving at least $100,000. 14. Radon Disclosure Title 6 §2572A

II. Other sections Many in Title 2515. Amenity fees not collected till constructed and open Title 25 §317,

Title 25§317A. Disclosure of financial obligations in chain of title for new home sales. (new in 2010)

16. Notices required under Delaware Common Interest Ownership Act. DUCIOA Title 25 Part V. Chapter 81 (New10/31/08 and amended in 2009 and 2010).17. Seller Financing and Conditional Sales: 25 Del. C. '314 (1/21/1992) revised 200818. Rule Against Perpetuities. Still applies to real property. 25 Del. C. '503.19. Contracts for the sale of Agricultural Land 25 Del. C. '31520. Title and disposal of property by aliens. 25 Del. C. '306 does not matter if you are a citizen or not.21. Contracts for the sale of unimproved real estate. Notice to buyer of public sewerage and water facilities. 25 Del. C. '313.22. Unit Property Act (Condominiums) 25 Del. C. Chapter 22 '' 2201-2240, amended 09 Also see Common Interest Ownership Act. Title 25 Part V. Chapter 81 (DUCIOA)

Page 2 of 3

23. Mechanics Liens 25 Del. C. Chapter 27 ''2701-273724. Real Estate Brokers, Salespersons and Appraisers 24 Del C. Chapter 29. See '2930 Certain Psychological impacts not material facts also applies to FSBOs.25. Agency disclosure language for commercial contracts and leases. 24 Del C.§2972(f)26. Smoke detector requirements Title 16 Ch 66, Subchapter II.

27. Manufactured Home Community right of first refusal for Owner’s Association to purchase. Title 25 §7026. Also, Landlord’s right to purchase manufactured home for 1% higher than contact price. Title 25 §7022.

28. Restrictive Covenants: Title 25, §318 No unreasonable restrictions on rooftop solar systems after 1/1/2010. Also allows for amending restrictions for rooftop solar system by a vote of 2/3 of property owners.

In 2010 similar provisions were added for restrictions on ground mounted solar systems on residential lots of ½ acre or more.

Also allows for amendment of any covenants, restrictions or conditions in a deed or declaration, including a Unit Property Act condominium declaration (added 2010) that do not by their terms have a means to amend, may be amended by a 2/3 vote of property owners.

29. Wind Power restrictions: Limitations on restrictions for residential wind energy system. Title 29 §8060.

30. Private Transfer fee prohibition. Title 25, §319.

III. Local ordinances that may surprise you.31. New Castle County maintenance corporation notice. UDC section 27.150 32. BOCA Property Maintenance Code PM 106.1 & 107.5 re sale of properties with outstanding code violation notices.

IV. Recent Cases concerning “Seal”

Whittington v. Dragon Group, L.L.C., 991 A.2d 1 (Del. 2009).

Sunrise Ventures, LLC v. Rehoboth Canal Ventures, LLC, 2010 WL 975581, *1+ (Del.Ch. Mar 04, 2010) (NO. CIV.A. 4119-VCS)

Notes from Andrew Taylor, Esq., 8 2002, 03, 04, 08, 10, 11, 12

Delaware Statutes concerning Real Estate Contracts

Notes from Andrew Taylor, Esq., © 2002, 03, 04, 08, 10, 11, 12, 14 Cooch and Taylor [email protected]

I. Many sections in Title 6, but here are some of the more important ones.

1. Age of Majority; capacity to contract. Age 18. 6 Del. C. §2705 and 25 Del C. §312 2. Delaware Statute of Frauds. 6 Del. C. §2714 3. Buyer Property Protection Act (Seller's Disclosure) 6 Del. C. Subchapter VII §§2570-2578 forms revised 1/1/2011 4. Campground Resorts Membership and Vacation Time Sharing Plans Sales Act. 6 Del.C.

Subtitle II Chapter 28. 5. Building Construction Payments, 6 Del.C. Subtitle II, Chapter 35. 6. New Home Buyers Protection Act. 6 Del. C. Subchapter I. §§3601-3652 Provides for escrow

of funds from seller of newly constructed residence when unfinished work exceeds 1 percent of the contract price.

7. Home Owner's Protection Act, for residential properties, 6 Del.C. Subchapter II Ch. 36, Subchapter II

8. Home Solicitation Sales. 6 Del.C. Subtitle 11 Chapter 44 9. Fair Housing Act 6 Del. C. chapter 46, protects on 11 statuses. 10. What I call Plain English provisions. But only applies to $50,000 and less. 6 Del. C.

Subchapter IV. §§2731-2736 11. Uniform Electronic Transactions Act (UETA) Title 6, Subtitle II, Chapter 12A 12. Delaware Consumer Fraud Act. Title 6, Subtitle II, Chapter 25, Subchaper II 13. Voluntary Alternative Dispute Resolution Act. Involving at least $100,000. Title 6, Subtitle

IV, Chapter 77 14. Radon Disclosure Title 6 §2572A

II. Other sections Many in Title 25 15. Amenity fees not collected till constructed and open Title 25 §317,

Title 25§317A. Disclosure of financial obligations in chain of title for new home sales. (new in 2010)

16. Notices required under Delaware Common Interest Ownership Act. DUCIOA Title 25 Part V. Chapter 81 (Mewl 0/31 /08 and amended in 2009 and 2010).

17. Seller Financing and Conditional Sales: 25 Del. C. §314 (1/21/1992) revised 2008 18. Rule Against Perpetuities. Still applies to real property. 25 Del. C. §503. 19. Contracts for the sale of Agricultural Land 25 Del. C. §315 20. Title and disposal of property by aliens. 25 Del. C. §306 does not matter if you are a citizen

or not. 21. Contracts for the sale of unimproved real estate. Notice to buyer of public sewerage and

water facilities. 25 Del. C. §313. 22. Unit Property Act (Condominiums) 25 Del. C. Chapter 22 §§ 2201-2240, amended 09

Also see Common Interest Ownership Act. Title 25 Part V. Chapter 81 (DUCIOA)

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23. Mechanics Liens 25 Del. C. Chapter 27 §§2701-2737 24. Real Estate Brokers, Salespersons and Appraisers 24 Del C. Chapter 29. See §2927 Certain

Psychological impacts not material facts also applies to FSBOs. 25. Agency disclosure language for commercial contracts and leases. 24 Del C.§2938(f) 26. Smoke detector requirements Title 16 Ch 66, Subchapter TV.

27. Manufactured Home Community right of first refusal for Owner's Association to purchase. Title 25 §7026. Also, Landlord's right to purchase manufactured home for 1% higher than

contact price. Title 25 §7022.

28. Restrictive Covenants: Title 25, §318 No unreasonable restrictions on rooftop solar systems after 1/1/2010. Also allows for amending restrictions for rooftop solar system by a vote of 2/3 of property owners.

In 2010 similar provisions were added for restrictions on ground mounted solar systems on residential lots of %2 acre or more.

Also allows for amendment of any covenants, restrictions or conditions in a deed or declaration, including a Unit Property Act condominium declaration (added 2010) that do not by their terms have a means to amend, may be amended by a 2/3 vote of property owners.

29. Wind Power restrictions: Limitations on restrictions for residential wind energy system. Title 29 §8060.

30. Private Transfer fee prohibition. Title 25, §319. 31. Commercial Broker's Lien Act. Title 25, Chapter 26

III. Local ordinances that may surprise you. 32. New Castle County maintenance corporation notice. UDC section 27.150 33. BOCA Property Maintenance Code PM 106.1 & 107.5 re sale of properties with outstanding

code violation notices.

IV. Recent Cases concerning "Seal"

Whittington v. Dragon Group, L.L.C., 991 A.2d 1 (Del. 2009).

Sunrise Ventures, LLC v. Rehoboth Canal Ventures, LLC, 2010 WL 975581, *1+ (Del.Ch. Mar 04, 2010) (NO. CIV.A. 4119-VCS)

Notes from Andrew Taylor, Esq., ®2002, 03, 04, 08, 10, 11, 12, 14

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