On page 183 in my textbook, the Practical Assignment, Question 1(c), asks what the name of the property is (Exhibit 7-4). Please use the contract in the textbook to answer this question. the rate of ten percent per annum (10%) and is due and pxyable in ful on Januacy 1,20 Selier agrees to pay one half of any and all imnnfer, assumption, of othe fees assessed by the holder of the mortgage loan in connection with the rander cf the Property subject to the martgage losin, and (i) Purchaser shall deliver to Seller a purchase money note ("Note'? In the amount of Sx Hundred Ffly Four Thousand Doilgr (S654000.00t Sy d Mote shall bear interest at ten percent per annum (109t) and shall be payable interest only quartenly witha lral payment of ail unpaid princpal and acoued and uncaid interest being due and payable two yeus fram the Gosing Oate (hereinafter deficed the Note thall grovide that it cin be prepaid in whale or in part at any time without premium or peralty The Note shall provide that the bolider of the Nore shail give the Maker of the Note at leat menty (te days weitisn notice of default pnot to ary ascelesation of the Note for defaul or exercine of any other rennediet. which the holder may have to collect the indebsedness evidenced by the Noter provided. bowever the Note shall be cross dofauled with the Wharever Life Aswurance Company Ia (WLA Loan') and defauls under the WuA Laan are to be govemed by the notice and cure periods provided for in the WLA Loan. The Noreshall be secured by a second priarity Deed to Secure Debt (Deed') on the Froperty. The Deed shall provide that inourance and condemination proceeds shall be used for ressoration of the propertyishall provide for twenty 0,00 days whiten notice of default prior to ary satcise of remedies thereunden shat not provide for any tex or insurence escrows and shal nok have any regtrctions on the tranfifer of the Progerty or upon any further finaneing or encumbrancing of the Property. The Note and Deed shal be nonrecoube to Purchaser and shall contain no versond guarany whatsoever, The Note shal be in the fom of the Note attuched neito as Exhibt Land the Deed thall be in the form of the Beed to Secue Debs attached hereto as Exribit 11 (1ii) The balance of the Purchase Price in the approximate ancunt of One Miltion One Hundied Forty-Six Theusand Dellars (\$1,146,000 00) shat be pyyable in cash or by bank check drawn on a Federal Reserve Bank or by wice transter or good fundi an the Closing Date fhereinafter defined). Upon sequert by Purchaser arlos to closing, Seller shall derignate the account of Seler into which the net proceeds of the sale are to be deposited. (b) Eornest Moncy Drposibs. Purchaner shall delwer iss eorneat money degopt to Ajax Realn, Inc. (the "Ecrowee? upon Puichasers execution of this Agremtient in the form of a cashier) check (dram on a State financial instiution) in the Sum of SEVENTY FIVE THOUSAND DOULAFS (575.000 00) (the 'Eainest Maney), made payabie to Escrowee in trust, ISaid Eamest Money together with any interest earned thereon shall hereinster be refered to as the "Deposit? The Depost stall be neld and disbursed by the eserowee as povided in this Agreement The Escrowee is directed to hold the Deposit as esciowed funds in an FDocainsuled, irterest bearing account, at The Bankin My Town, Stake. Purchaser represents that his US fedecal taxidentification number is Purchaser's tax identification numberstall be cred ted with any interest eamed on the Earnest Maney prior toite being dis bursed by Esciowee. Purchaser shali compiete and execute a Payer's Pequest for Toopyer Identification Number (form W-9). Seller and Pachaser hereby agree to hold Esciowec hammless from amy loss of excrowed funds, including the Deposic, for any reason what soever except for the Fxcrowee's fraud or gross negligence or for loss of interest caused b) any delay in the deposit or eaty withdrawal of the Deponit, from the interest bearma account. This Agyeement shall serve as escrow instructions, and an evecuted copy of this Agreement shall be deposited by Puichaser with the Ercrowee At Cosing, the Deposh shall be delivered to Selicr and appied against the Purchase ficke. In the event of a termimation of this Agreement or a default underthis Agreement. the Deposit shall bedelwered or cisbursed by the Escrowee as provided in this Agreement. If any dispute or difference atises berween the Purchaser and Seller or If ary conflicting derands be made upon the Escrowee, the Esciowee shatl not be required to dethrmine the same or to take aWy actoon thereon. Aather, the Escrowee may await settement of the controversy or deposit the 2. Pstrsilf. 2. Remedies of selier: In the event this Agreament taits to oloos due to the dafaut of Buyer, Sslofanole veredy shall be to reat thin and other payments Buyer has paid toww th the purchase of the Property tha. ta raturfed bo Buyar followirg the procedures set forth sisewhere horeh. such agreement. d. Attorney's Fees: In any figigation or arbitraton diving oul of this Kreenent, inelucing but not limted to breach ol contract claitis betwoen Buyer and Seller and commiselon claims brueght by broker. the non-prevaling perty shas be liable to fha prevaling sary for its rossorable attorney's fees and expentes to Buyor of the same and prowh. Buyer iath whatever intormation Seler has togarding the mvalaeligy of initurance and the dispos ibon of any insurance daim. Buyer or Sulor may terminese His Agreement wtheut pesaly not laher than fourtoen (14) days from receist of the above noboe. if Buyor or Seller do fot temmale thin Agrement, Sollar shall cause Properts io be spatorod to subuardaly the same cosing, or seven (7) dojs from the date thwit Property has been restored os substantaly the same eondition as on Ee Binding Agresment Date and a new certif ese of oceupancy (ft required) is istuod. 4. Ogher Prghlalent outocmon peid by Buger towars the Preperty mithout deducton or peraty. b. Consent to Share NonePublic Informetion: Buyer and Selier hareby conaent to the clsaing attomay preparing and oiatributng an cendemnation. Aereendect by the elosing attomey, mertgage londer and or the ite insirance compary lo meer be doemed the sarne at an orighal zignature, provided, toweror, that al partes agreets prompey re emate. if requested to do do by, the buyer's mortgage lender or he othor parif. Expenil 7-4 NAESIMDit of Hachast AnD JAL. Contlact for Fushase and Sale rifa futial Shonolag cheren Witriment a cousumon thethafien Wuthist? WitNeselif lesterent intaltat L. Breperty. Ecitht titd tim Mitret. Ny Tonh Gee at county State deigibed an tuhath A Wo 7015 for dited hidyate? lictlethed becest bet 17,20 3hptepermith? gable pigpesty fertaring to the Lent, the inpesterteres or the Iang bile Property of the twe froperty? the Lact or the hepoventents and ing kclatio any ioght 2. Parchoir Mice and Eicteit Morey Reposte ped int the Glowiromarinet Wearve the A swurimoe Cot parye in the origind brincipal amount of Fhe Mihan fiet 03 furchaser ituil delher tos seller a phathase money fote GNotel in the anount of fornaced foce the Cloveng Dufe therhinathe defred De Note ihel provite thu Mu can be grepid m whole of in parf at ary rine withoul gremitniot perifty. The Note that movide the the which the holdet nay lave ip collect the ndetrednest evolericed by the Mooe byonded cure periods Erovided for in the WLA boun Ilin Nate shil te iecound by a wecend prior: Fy Beed to Secue Debr ("Deed7 on the Piogesty. The Derd thail bronde that imparance tha nok provide for wy tax ot inisuance eloums and 5 .ll nor hser ang resthations on ihe trirsfer ot the Plootity or upon avi fumther franang or encisboninchg el the Proptity. Phe Note and Deed thil te nonvecoube to Purchases and thal contan no pencons! gourang whatsocvet The Note tholl be in the form of the locte attocted hereto al Fathe I and thio Deed shuli be in the foem ofite Deed 10 Seoure Debr orached theeto ar Eatibil 1=1 00 The bol ance of the Putchar Pire in the anoreain we andien ad Ore Mrion Cne dedk druwn on a fedecal feserve Barik or by wae tramofer or gocd funos on the Cloung nate the a coourz of Se ler into which the net proiredis of the ale are 1a lee depoite: (b) famen Moncy Deposils. Prunchaser ital delirer at camets maner depost to A/ax firaly ine ithe "Eicoower? upon funchaser'sewectein of mit Agrement in the form. of acasher's check idrann on a State franciat imatitumenl in the uims of SEVENTY INt' true Said Eoneat Maney togethed with any interet eaned the war shat Iertingfter bet cedened to as the 'Denorit? The Bepolit thal be held and estared br the ecciomee an gubvided in this Agremtit The fxcrowee is diected 10 hodd the Depout as erorwed Bunds in in foxk-inased. federal tacidentscobon number bs Piachasei) taxidertifationingIdencikation Number (Forn W-9) Seler and Fuctaser hewhy agree io hold fromee hamien fromany loas of rscoowed fundt. inctising the Deponic for a w reaten whan thai be deowered to Seler brd igeled apairit the Pugchupe fice tn ble evert of a terth Aation of thid Agremer or ade fauk wnder thh Agickment, ihe Deonit ahalibe delveied. thewon Aathet, the Eucrowete mar amar setsimment of the corurowerw or droot the