| EXCHANGE ADDENDUM |
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The following terms and conditions are hereby incorporated in and made a part of the agreement dated_________________________________________________________
on property known as_____________________________________________________
executed by ___________________________, Buyer Seller Other ___________
and ________________________________, Buyer Seller Other ___________ |
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| By executing this Addendum the parties intend to modify their existing Agreement as below. All other provisions of the existing Agreement shall remain in full force and effect. |
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1.INTENT TO EXCHANGE: IT IS THE INTENT OF _________________________________
(“EXCHANGER”) TO UTILIZE THIS TRANSACTION AS PART OF A TAX DEFERRED EXCHANGE AS PROVIDED IN
INTERNAL REVENUE CODE SECTION 1031, AS AMENDED AND THE TREASURY REGULATIONS PROMULGATED THEREUNDER. |
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| 2. EXCHANGE COOPERATION CLAUSE: SELECT THE APPROPRIATE COOPERATION CLAUSE. |
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Buyer hereby acknowledges it is the intent of the Seller to effect an IRC Section 1031 tax deferred exchange which will not delay the closing or cause additional expense to the Buyer. The Seller’s rights under this Agreement may be assigned to Investment Property Exchange Services, Inc., a Qualified Intermediary, for the purpose of completing such an exchange. Buyer agrees to cooperate with the Seller and Investment Property Exchange Services, Inc. in a manner necessary to complete the exchange. |
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Seller hereby acknowledges it is the intent of the Buyer to effect an IRC Section 1031 tax deferred exchange which will not delay the closing or cause additional expense to the Seller. The Buyer’s rights under this Agreement may be assigned to Investment Property Exchange Services, Inc., a Qualified Intermediary, for the purpose of completing such an exchange. Seller agrees to cooperate with the Buyer and Investment Property Exchange Services, Inc. in a manner necessary to complete the exchange. |
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| 3. ADDITIONAL TERMS: |
________________________________________________________________________
________________________________________________________________________
________________________________________________________________________ |
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4. TAX AND LEGAL ADVICE: The manner in which an exchange is structured will have significant tax and legal consequences. The parties hereto should always consult with their tax and/or legal advisor regarding the structure and specific requirements of an exchange. By signing below the parties hereto acknowledge a copy of this Addendum. |
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| Signature _______________Date ________Signature _____________ Date _________ |
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| Signature _______________Date ________Signature _____________ Date _________ |
