Exclusivity Agreement (Page 3 of 5) in pdf

(D)

No commitment will be entered into during the Exclusivity Period

to proceed with any third party immediately after its expiry.

(E)

That during the Exclusivity Period the Seller will enter into a

contract for sale of the Property at the Purchase Price with

completion within 14 working days from the date of exchange of

contracts.

(F)

The Buyer may at his own discretion make further payments to

the Seller under this Exclusivity Agreement. (“the Exclusivity

Payments”)

The Exclusivity Payments if made will be noted in the

Schedule to this Exclusivity Agreement and signed by

the Buyer and the Seller simultaneously to the

Exclusivity Payments being made.

(G)

The Exclusivity Payments (if any) and the Exclusivity Sum will

be collectively known as the Deposit

(H)

The Deposit will be entered as the deposit on exchange of

contracts and therefore shall be deducted from the Purchase

Price on completion of the sale of the Property

(I)

The Seller and his solicitor will comply with any reasonable

requirement of the Buyer and his solicitor during the Exclusivity

Period in relation to deducing title to the Property or any other

matter that is required by any lender of the Buyer may be

arranging mortgage finance with or anything that a prudent

Buyer may require (“the Required Information”)

Mortgage Finance

The Buyer shall immediately submit and diligently pursue an application

for mortgage finance over the Property and should make every effort to

ensure that an offer of advance is secured before the Exclusivity Period.

Termination of Exclusivity

(A)

If the Buyer is unable to proceed to exchange of contracts within

the Exclusivity Period due to the default of the Seller providing

the Required Information or if the Buyer is unable to secure

Mortgage Finance over the Property they will immediately inform

the Seller whereon this Exclusivity Agreement will lapse and the

Seller agrees to repay the Deposit to the Buyer

(B)

If the Buyer does not proceed to exchange of contracts within

the Exclusivity Period for any reason save as stated in clause

Exclusivity Agreement Page 3

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