AQ-1A Addendum to Contract

State of Tennessee 2014 HOME Operations Manual 5-12

AQ-1A

ADDENDUM TO CONTRACT

CONTRACT ADDENDUM # _____ DATED: ___________

Original contract dated ____/_____/_____/ for purchase of the property located at:

__________________________________________________________________ between the following parties:

BUYER: SELLER:

_________________________________ ___________________________________

BUYER INITIATED THIS CONTRACT ADDENDUM # ____ ON ________, _____, 20_________

__________________________________________________

BUYER'S SIGNATURE INITIATING THIS ADDENDUM

The contract for purchase of the above property was executed prior to the seller being informed of the potential of

the use of federal funds as a part of the transaction. The seller was not informed of their rights as a voluntary

acquisition. The seller has the right to withdraw from the existing agreement. The seller should have been informed

of the following:

____________________________________________, the Buyer, will use federal funds through a HOME grant

from the Tennessee Housing Development Agency to assist in acquiring your property. Please be informed of the

following:

1. ___________________________________, the Buyer, does not have the right of eminent domain

and, therefore, will not acquire the property that you, the Seller, have voluntarily offered for sale if

negotiations fail to result in an amicable agreement; and

2. The terms and conditions of the sale have been set by you, the Seller, and the Buyer based on an

agreed upon fair market value; and

3. Even though federal funds will be used in the acquisition of your property, you, the Seller, will not

be entitled to any relocation benefits

I, the Seller, further certify that the above listed property is not currently tenant-occupied and was not tenant-

occupied at the time that an offer to purchase the property was made. I further certify that I, the Seller, did not order

occupant(s) to move, or fail to renew a lease, in order to sell the property to the Buyer.

I understand that ________________________________________, the Seller, having reviewed this Contract

Addendum # ______, have the right to accept or not accept this Contract Addendum # ________

ACCEPTANCE:

I understand the above comments in this Contract Addendum # ______ and wish to accept this Addendum # _____

to the contract. I do not wish to terminate the contract dated _____/_____/_____ between myself, the Seller, and

____________________ (the Buyer).

_________________________________________ Date of Acceptance: ___________________

Seller's Signature of Acceptance

TERMINATION:

I understand the above comments in this Contract Addendum and do not wish to accept this Addendum # _____ to

the contract. I wish to terminate the contract dated _________________ between myself (the Seller) and

______________________ (the Buyer).

_________________________________________ Date of Termination: __________________

Seller's Signature of Termination