Buyer shall deposit with an Escrow Agent / Settlement Company) an earnest money deposit, which shall become non-refundable upon the earlier of: (a) expiration of the Inspection Period, or (b) 7 calendar days from the date of contract ratification, whichever comes first. If Buyer fails to close for any reason other than Seller’s default, Seller shall retain this earnest money as liquidated damages. Please fill in the appropriate Escrow Agent/Settlement Company and Earnest Money Deposit Amount below.

Buyer shall have a maximum of 7 calendar days from contract ratification to complete all inspections, due diligence, and obtain any required approvals. If Buyer does not terminate in writing before this period ends, the contract shall continue in full force with the earnest money becoming non-refundable.

Within 3 calendar days of ratification, Buyer shall provide Seller with written evidence of available funds sufficient to close the transaction (bank statement, hard money commitment, or other satisfactory proof). Failure to provide such proof allows Seller to terminate this contract and retain any earnest money.

Buyer shall not assign or transfer this Agreement or any rights hereunder without the prior written consent of Seller, which Seller may grant or withhold in Seller’s sole discretion. Any attempted assignment without such consent shall be null and void.

Title to the Property shall be conveyed directly from Seller to Buyer as named in this Agreement. Buyer may not direct conveyance to a third party without Seller’s written approval.

If Buyer fails to close within 3 business days after the scheduled closing date, Seller shall have the right to terminate this Agreement, retain the earnest money as liquidated damages, and pursue any other remedies available at law or equity.

If Buyer causes the closing to be delayed 7 days beyond the scheduled closing date, Buyer shall pay Seller a fee per day until closing occurs, to compensate Seller for carrying costs and inconvenience.

This Addendum and the Agreement shall be governed by and construed in accordance with the laws of the Commonwealth of Virginia.

This Addendum shall control in the event of any conflict between its terms and the terms of the original Agreement.

By their signatures below, the parties agree to incorporate this Addendum into the Contract.