P21-Financing Terms
Objective Form
21.1 The amount of $___________ of the purchase price shall be paid by a (non)
negotiable promissory note payable from Buyer to the order of Seller. Such
note shall be in the form and terms of Exhibit _____, which is attached hereto
and incorporated by this reference herein.
Comment
The terms by which the Seller may finanYce all or part of the Buyer's
purchase price are too numerous to fall within the scope of this project.
Suffice it to say that all documentation should, preferably, be by separate
documents which are exhibited in the agreement. Documentation would
customarily consist of some of the following: Mortgage 1st or 2nd, Mortgage
Deed, Deed of Trust, Security Agreements, Financing Statements, and
subordination agreements.
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