Commercial Financing Form - Oklahoma Real Estate Commission
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1OKLAHOMA REAL ESTATE COMMISSION
This is a legally binding Contract; if not understood, seek advice from an attorney.
COMMERCIAL FINANCING
This financing supplement, which is attached to and part of the Oklahoma Uniform Contract of Sale of Real Estate
relates to the following described real estate:
(Check Applicable)
Financing Contingency
This contract is expressly contingent upon Buyer obtaining acceptable financing within days of the Time Reference Date. If, at
Buyer’s sole discretion, Buyer is unable to obtain satisfactory financing within the time period specified above, Buyer may cancel and
terminate this Contract and receive a refund of the earnest money by delivering written notice to the Seller, in care of Seller’s Broker,
if applicable, within twenty-four (24) hours of the expiration of the time period specified in this paragraph.
Mortgage Carried by Seller (Amortized)
The balance of the purchase price shall be paid in the following manner: At Closing, Buyer shall execute a negotiable promissory note
payable to the order of Seller in the sum of $, payable in equal monthly installments of $,
including principal and interest, beginning on the day of , 20 and continuing on the day of each month
thereafter with interest at the rate of percent (%) per annum on the unpaid balance.
Mortgage Carried by Seller (One Payment)
The balance of the purchase price shall be paid in the following manner: At Closing, Buyer shall execute a negotiable promissory
note payable to the order of Seller in the sum of $ , due and payable on , 20 with interest at
the rate of percent (%) per annum.
Mortgage Carried by Seller Amortized With Balloon Payment
The balance of the purchase price shall be paid in the following manner: At Closing, Buyer shall execute a negotiable promissory note
payable to the order of Seller in the sum of $, payable in equal monthly installments of $,
including principal and interest, beginning on the day of , 20 and continuing on the day of each month
thereafter with an interest rate of percent (%) per annum on the unpaid balance. Said note shall be amortized over
months with the entire unpaid principal balance (Balloon payment) to be paid in full as the payment.
The Mortgage Documents carried by Seller shall include, but not be limited to, the following provisions:
i) prepayment at any time without penalty
ii) acceleration of the balance due upon the transfer of the title to the Property to any third Party
iii) the delivery of a mortgage on the Property as security
iv) the promissory note shall be personally guaranteed by
v) the mortgage shall contain the following partial release provision(s):
vi) additional provision(s):
The remainder of the purchase price shall be paid in cash at Closing.
The note and mortgage to be furnished by Seller and delivered to Buyer not later than days (ten [10]
days if left blank), prior to Closing. The expense of preparing these documents shall be paid by
, not to exceed a total of $ .
Buyer’s Signature
Date
Seller’s Signature
Date
Buyer’s Signature
Date
Seller’s Signature
Date
This form was created by the Oklahoma Real Estate Contract Form Committee and approved by the Oklahoma Real Estate Commission.
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OREC COMMERICAL FINANCING (11-2014)
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