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PRECONSTRUCTION SPECIFICATIONS EXHIBIT ___ 2018 Printing This Exhibit is part of the Agreement with an Offer Date of ___ for the purchase and sale of that certain Property known as: ___, ___, Georgia
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How to fill out back-up agreement contingency exhibit

01
Begin by reading the original agreement thoroughly to understand the terms and conditions.
02
Identify the specific section or clause in the agreement that pertains to backup agreement contingency.
03
Create a new section in the agreement titled 'Backup Agreement Contingency Exhibit'.
04
Clearly state the purpose and conditions of the backup agreement contingency in this new section.
05
Specify the steps that need to be followed in case the original agreement cannot be fulfilled.
06
Outline the terms of the backup agreement, including any additional provisions or amendments.
07
Include a space for signatures of both parties involved in the agreement.
08
Review the completed exhibit and make any necessary revisions or edits.
09
Make copies of the backup agreement contingency exhibit and attach them to the original agreement.
10
Keep a record of the backup agreement contingency exhibit for future reference.

Who needs back-up agreement contingency exhibit?

01
The back-up agreement contingency exhibit is typically needed in situations where there is a likelihood of the original agreement not being fulfilled. This could include scenarios where there is a risk of a party being unable to meet their obligations or if certain conditions are not met. The exhibit provides a backup plan or alternative agreement to ensure that both parties are still protected and their interests are safeguarded in case the original agreement falls through.
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A back-up agreement contingency exhibit is a legal document used in real estate transactions that outlines conditions under which a back-up offer may be considered if the primary agreement falls through.
Typically, the seller or their agent is responsible for filing the back-up agreement contingency exhibit, especially when there is an active primary offer.
To fill out a back-up agreement contingency exhibit, include the details of the back-up offer, such as the parties involved, the terms of the offer, and specific conditions under which the back-up offer becomes effective.
The purpose of the back-up agreement contingency exhibit is to provide a framework for secondary offers, ensuring potential buyers are prepared to act if the primary agreement falls through.
The information that must be reported includes the names of the buyers and sellers, property details, terms of the back-up offer, and any contingencies that must be met.
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