I. INVOCATION PLEDGE OF ALLEGIANCE. III. CONSENT AGENDA BILL STEWART a) Motion to approve the HAAR Consent Agenda/Minutes

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1 HUNTSVILLE AREA ASSOCIATION OF REALTORS BOARD OF DIRECTORS MEETING AGENDA 535 Monroe Street, Huntsville, AL Tuesday, November 20 th, 2014 Immediately following NALMLS O&D CALL MEETING TO ORDER BILL STEWART I. INVOCATION II. PLEDGE OF ALLEGIANCE III. CONSENT AGENDA BILL STEWART a) Motion to approve the HAAR Consent Agenda/Minutes IV. PRESIDENT REMARKS BILL STEWART V. TREASURER S REPORT LARRY CARROLL a) September 2014 Financials b) Motions from Finance and Budget VI. COMMITTEE REPORTS a) Nominating Committee BILL WARD b) Governmental Affairs GINNY BRANDAU c) ARPAC SHA JARBOE d) Affiliate Director NICKIE ALLISON-LASH e) North Alabama CRS KATHY MANN f) WCR CARRIE BURKE g) YPN Huntsville DARRIN HASLEY h) REALTORS in Action JIM JOHNSON VII. VIII. COMMITTEE MOTIONS a) Forms Committee b) Bylaws Committee OTHER BUSINESS ADJOURN MEETING IMPORTANT DATES Nov. 27 th Nov. 28 th Dec. 9 th Dec. 11 th Thanksgiving (Office Closed) HAAR/NALMLS Office Closed Safety Class 1pm 3 pm HAAR Holiday Open House

2 BOARD OF DIRECTORS MEETING OF THE HUNTSVILLE AREA ASSOCIATION OF REALTORS November 20 th, 2014 CONSENT AGENDA (Items listed on the Consent Agenda are expected to be routine and non controversial and, unless the Board directs that an item be held for further discussion, the entire CONSENT AGENDA will be acted upon for block approval. If the Board directs that an item listed on the CONSENT AGENDA be held for further discussion, the item will be addressed under Other Business. ) 1

3 HAAR Consent Agenda November 20 th, 2014 ITEM PAGE Approval of October 2014 Minutes 3-6 November Committee Reports 7 October-November 2014 Membership Report 8 NALMLS October Statistics 9 2

4 HUNTSVILLE AREA ASSOCIATION OF REALTORS OFFICERS & DIRECTORS MEETING MINUTES Tuesday, October 21 st, :30 am PRESENT: President Bill Stewart, President Elect Opie Balch, MLS President Kathy Mann, Secretary/Treasurer Larry Carroll, Attorney Bo Harrison, Ginny Brandau, Carrie Burke, Paul Buxton, Darrin Hasley, Jim Hoekenschnieder, Sha Jarboe, Jim Johnson, Steven LaMar, Zelda Lanza, Terry Lewis, Landa Pennington, Rod Schumann, Robert Simons, Regina Underwood, Rod Weaver, Bill Ward, Jan Wells, Julie Lockwood, ABSENT: Lynn Kilgore, Nickie Allison Lash, Cindi Peters, Tommy Pruett STAFF: Christina Hearne, Katy Fitzgerald, Arely Jaimes, Rhonda Ricketts, Tammy Owen Via Conference: CEO Kipp Cooper At a meeting of the Officers and Directors, held at 535 Monroe Street, Huntsville, AL., 35801, the meeting was called to order by President Bill Stewart at 8:30 am, Central Standard Time. Invocation: Zelda Lanza Pledge of Allegiance: Jim Hoekenschnieder MOTION: To approve the HAAR Consent Agenda, including motions from the Executive Committee. Motion Carried. PRESIDENTS REMARKS President Bill Stewart informed the directors that Kipp is Las Vegas attending Real Estate Standards Organization. He also reminded the Officers and Directors that the 2015 Director Elections will be held October 31 st through November 3 rd. He also reminded the Officers and Directors that a representative of Sentrilock will be at HAAR on October 28 th. Motion: To excuse the absence of Nickie Allison Lash, Cindi Peters and Tommy Pruett. Motion Passed. TREASURERS REPORT Secretary/Treasurer Larry Carroll presented the August 2014 Financials. 3

5 Financial Statements to be filed for audit. Note: The investment committee will meeting following this meeting; the committee is putting together an investment policy manual. COMMITTEE REPORTS Governmental Affairs Committee Co Chair Ginny Brandau encouraged all those present to vote for the candidates endorsed by HAAR. The committee was asked if they wanted to Offer Walt Hennessee monetary debt relief, and the committee decided they did not. ARPAC Chair Sha Jarboe informed everyone that the committee is still finalizing the numbers for the year. There will be a small fund raiser in next month to start raising fund for Bill Stewart for Affiliate Director Nickie Allison Lash announces that Peppers Moving will be sponsoring the upcoming Affiliate Lunch and Learn. The next Lunch and Learn will be sponsored by AL.com, it will be held in their building on November 18 th 11 1pm. CRS President Kathy Mann mentioned the CRS 201 course was a great success. The feedback was great. The chapter will try to bring more classes like this next year and Kathy encourages everyone to attend. YPN Huntsville Darrin Hasley announce they will be having a corn hole tournament date and times to be announce. 4

6 Realtors in Action Jim Johnson reported there have been no needs reported to RIA. Committee Motions Forms Committee: Motion: to adopt a new Agency Disclosure Contract Addendum (Appendix A) Recommendations: On Dotloop to add in Parenthesis when to use this form. Motion Passed. Motion: To accept the revised language in Paragraph 9 of the Exclusive Right to sell agreement. Paragraph 9 - Earnest Money: Seller acknowledges that earnest money will be held in Trust in accordance with the terms of the contract. authorizes Broker to accept and hold all earnest money. Rationale: This will resolve the conflict between the listing agreement and sales agreement language. Motion Passed. Other Business Update from Opie Balch on the City Sign Task Force: The City of Huntsville and the City of Madison decided that they no longer need a Sign Task Force. Both Cities have started enforcing the sign ordinance; sings in violation of the city ordinance will be picked up by the city. The gentlemen s agreement states that open house signs are allowed between 5pm on Friday through Sunday evening. Please pass the word and remind the agent of this city ordinance. If you see any violations please call the Code enforcement officers and they will get on it. Motion: Approve the NALMLS motion to postpone the implementation of the Source of Square footage motion. Motion Passed. A suggestion was made to move the November O&D Meetings from November 25 th to November 20 th, keeping the times. Suggestion Accepted by O&D. There being no other business the meeting adjourned at 9:23 am Minutes respectfully submitted by Arely Jaimes for Larry Carroll. 5

7 Appendix A 6

8 October Committee Reports ARPAC No Report BYLAWS The Committee has met twice and has several motions to present at the O&D meeting. CARAVAN No Report FINANCE & BUDGET No Report FORMS The committee has put together a year end report, please see attached document. GRIEVANCE Nothing to Report. GOVERNMENTAL AFFAIRS All local candidates supported in November election won except for license director. Education Committee No Report ORIENTATION Nothing to report PROFESSIONAL STANDARDS Nothing to report REALTORS in Action Nothing to report 7

9 Oct.16-Nov.19, 2014 HAAR MEMBERSHIP REPORT The Huntsville Area Association of REALTORS has received 1 Designated REALTOR Applications, 24 REALTOR Applications, and 0 Affiliate Applications from Oct 16, 2014 thru Nov 19, DESIGNATED REALTOR Elaine Simelton The Executive Group Realtor Prop.Mgt. REALTOR Mark Aguiar Weichert Realtors The Space Place Rayna Anton Keller Williams Realty Madison Troy Atchison Breland Homes Michelle Shelly Bennigsohn Crye Leike Realtors Madison Lindsay A. Dempsey ERA Ben Porter Robert D. Dempsey ERA Ben Porter Stephanie Dingome Re/Max Alliance Huntsville Stephen Doran Breland Homes, LLC Julius (Jody) Dunsmore Exit Realty of the Valley Brittany Evans Leading Edge Realty Edge Ronketi Gosberry Sperry Van Ness Jeffrey Hinojosa Adams Homes J. Lynn Kronk (Secondary) Red Door Realty Alex Lott Exit Realty of the Valley HSV Cherie Lytal Avast Realty, LLC Anna M. Maples Morley Real Estate Group Barbara A. McMahan Weichert Realtors The Space Place Paulette Potter Adams Homes LLC Shelia J. Power MarMac Real Estate Madison Andrew Ramirez Adams Homes Lisa Marie Sanders Woodland Real Estate, Inc. Azure D. Thomas Amanda Howard Real Estate Louann G. Thomson Averbuch Realty Patricia Young Keller Williams Realty Madison 8

10 Alabama Housing Statistics Reporting Form North Alabama Multiple Listing System, Inc. NALMLS Board: Huntsville Area Association of Realtors October 2014 Monthly Totals (representative of previous form). # Sold in Median Selling Average Days on # of Units on the Month Average Sales Price Price Market Market Total , , # Pending this Month Average Pending Price Median Pending Price Average Days on Market # of Units Currently Pending Total , , # Sold this Month By Property Type (Please mark NR if MLS System cannot retrieve these figures) Average Selling Price Median Selling Price Average Days on Market # of Units on the Market Existing SF (Single Family, Garden and Townhomes) , , Condo (New and Existing) 12 75,700 63, New Construction (Single Family, Garden and Townhomes) , , Price Distribution Price Range # of Total Sales Average DOM # of Current Active Listings $99,999 or UNDER $100,000 $124, $125,000 $149, $150,000 $199, $200,000 $249, $250,000 $299, $300,000 $349, $350,000 $399, $400,000 $449, $450,000 $499, $500,000 $549, $550,000 $599,999 0 #DIV/0! 0 $600,000 $649, $650,000 $699, $700,000 $749, $750,000 $799, $800,000 OR OVER

11 2015 F&B Calendar Financials presented for: F&B ROOM HAAR O&D NALMLS January 1/12/15 C 1/27/15 1/27/15 November-14 February 2/16/15 B 2/24/15 n/a December-14 March 3/23/15 C 3/31/15 3/31/15 January-15 April 4/13/15 C 4/21/15 n/a February-15 May 5/18/15 B 5/19/15 5/19/15 March-15 June 6/22/15 C 6/23/15 n/a April-15 July 7/13/15 C 7/21/15 7/21/15 May-15 August 8/17/15 B 8/25/15 n/a June-15 September 9/21/15 B 9/22/15 9/22/15 July-15 October 10/12/15 C 10/20/15 n/a August-15 November 11/9/15 C 11/17/15 11/17/15 ** September-15 December 12/14/15 C 12/15/15 n/a October-15 Membership Mtg Financials presented for: January n/a n/a February 2/5/15 December-14 March 3/12/15 January-15 April 4/9/15 February-15 May 5/7/15 March-15 June 6/4/15 April-15 July 7/9/15 May-15 August 8/6/15 June-15 September 9/3/15 July-15 October 10/1/15 August-15 November 11/5/15 September-15 December n/a October-15

12 HAAR Forms Committee Report to Officers and Directors November, 2014 The HAAR Forms Committee has approved and hereby submits for 0&0 approval, the attached forms. Some of the revisions corrected spacing issues so that adequate room was allowed to drag and drop signatures, text boxes and initials into a pdf version of a form so that it would be used with electronic signatures. 1. Counter-Offer- The Counter Offer form was tested extensively by a task force to determine its functionality in all 3 working environments. It was determined by the task force that the pdf and hard copy versions worked well, but some revisions were needed for the fully electronic version to function properly and to make it available for use by both a buyer and a seller to implement a counter offer. Additionally, 3 signature lines were provided for both buyers and sellers since we are seeing an increase in the number of transactions involving more than 2 people as either a buyer or seller. Tweaking of the wording in paragraph 2 was added for further clarification - "Acceptance shall not be effective until personally received and acknowledged by (Listing Agent) as evidenced by signing the Binding Agreement Date below. " 2. Sales Contracts (Financed, Cash & Landl- (see page 4) The Counter Offer form did not work seamlessly with the sales contracts in an electronic environment. Since Dotloop is setup to track changes on the sales contract, agents can make counter offers by changing the terms of the contract on the Sales Contract forms themselves, which delete previous signatures. The complications arose on the signature pages of the sales contracts when a counter offer was produced. We made the following revisions to page 4 of the sales contracts in the Signature section: 3 Signature Lines were provided for both Purchasers and Sellers The options of "accepts, rejects or counters" were grouped together to show all options in one place. Rather than using check boxes, the committee believed it more prudent to have the Seller initial next to their choice of a response to eliminate any potential disputes about what a Seller intended. The language included in a Counter Offer form was also included here to allow it work in all 3 working environments. o o Agents must choose a checkbox of "yes" or "no" to indicate whether or not a separate Counter Offer is attached. Those agents who wish to make all counter offers on the original Sales Contract without using a Counter Offer form can do so, since DotLoop tracks changes and all changes delete original signatures, and the protective language from the Counter Offer form is included here on the Sales Contracts. Other Revisions to Sales Contracts include: o o o Title Insurance - The phrase ("enhanced" policy if property qualifies) was added to the qualify when an enhanced owner's title insurance policy and binder will be furnished. This was added to the Financed and Cash Sales Contracts (Paragraph #2c) Septic Systems - the term "and septic systems" was added after the word plumbing in the Financed and Sales Contracts to further clarify that the septic system is a part of the plumbing system under paragraphs #4a and 4d/4e) The term "working days" replaced all "days" or "calendar days" to provide consistency.

13 3. Inspection Addendum - There has been a contradiction or at least a gray area within the Inspection Addendum. The Addendum stipulates the terms of what type of repairs a buyer can request a seller to make, major defects, hazardous conditions or those items in paragraph 4a of the Sales Contracts, yet in describing the procedure and options for a buyer, the paragraph stated that if "seller elects not to make all requested corrections" the buyer had options. We clarified the statement to read "If Seller elects not to make all requested corrections, per the terms specified herein, Purchaser within 2 working days, will have 3 options:" This further emphasizes that the corrections requested must fall within the parameters specified in the Inspection Addendum. The buyer and seller have both given their commitment in the Inspection Addendum that the repairs requested will be limited to the terms specified therein. Hopefully, this will lessen the laundry lists of repairs being submitted by buyers which fall outside the agreed upon parameters. 4. Response to Request for Repairs - This form is a new form which simulates the offer (Request for Repairs) and the counter offer (Response to Request for Repairs) procedure. This form allows the buyer and seller to track their negotiation in all 3 working environments and see changes made during negotiations. The form references both the Contract for Sale and the Request for Repairs and shows that the seller has Countered with different terms. In addition, it stipulates that "By this mutual agreement, the inspection contingency in paragraph 4(d) of the Contract for Sale is hereby released, subject to completion of said repairs as agreed herein. Paragraph 4(a) of the Sales Contract remains in effect: Seller agrees to deliver all built-in appliances heating, cooling, electrical, gas, plumbing and septic systems in normal operating condition when title is passed or possession is given, whichever occurs first. "

14 I] REALTOR D q. D - Nov..;LoP!, COUNTER-OFFER Receipt is acknowledged of an Offer to purchase the real property described as: Address City State Zip, dated, between Seller(s): and Purchaser(s): Such Offer is hereby rejected and the following Counter-Offer is hereby submitted: 1. All terms, provisions and conditions of the Offer as stated above, remain the same except as follows: 2. The SelJer reselves the right to accept any other Offer prior to Purchaser's written acceptance of this Counter-Offer. Acceptance shall not be effective until personally received and acknowledged by (Listing Agent) as evidenced by signing the Binding Agreement Date below. 3. This Counter-Offer shall expire unless a signed copy of acceptance is delivered to the person{s) making this Counter-Offer (or their agent) by 0 a.m. 0 p.m. on (date). 4. Upon acceptance by both parties, as herein specified, this Counter Offer together with the offer of the Purchaser, and any addendums, shall compose the entire agreement between the parties hereto. 5. This Counter~Offer is hereby executed by the undersigned and receipt of a copy is hereby acknowledged. DATE DATE DATE 6. The undersigned hereby accept(s) the above Counter-Offer. DATE DATE DATE This Counter Offer is hereby rejected. INITIALS DATE INITIALS DATE INITtALS DATE Binding Agreement Date: The listing agent confirms that the contract was finalized, accepted and delivered to all parties (and/or their representatives) either in writing or electronically and the binding agreement date to begin contract performance is : Date:_--".,-cc-----o...,.-o:,--,- by,,..,.-,, :---,~, Binding Agreement Date Listing Agent Signature Counter Offer Form Page 1 of 1 (Revised ) THE USE OF THI S FORM BY ANY ONE OTHER THAN AREAL TOR MEMBER IS STRICTLY PROHIBITED Copyright by Huntsvi lle Area Association of REAL TORS, tnc.

15 FINANCED SALES CONTRACT The undersigned Purchaser(s) hereby agree to purchase and the undersigned Seller(s) hereby agree to se ll and convey the following described real eslale logether with all improvements, shrubbery, plantings and appurtenances, including but not limited to those items described in paragraph 9 herein. on the tcnlls and conditions described below. If any personal items remain with the property, they are left "as is" and at no value to the property. Address City County,State Zip Lot Block Subdivision Addition Legal Description: I. TOTAL PURC HASE PRICE shall be $ ~~~~:~~~~~~;s conti~ ~~ ~~ ~ ~~ ~ Pur~h~ ~~~ ~b~ ~i~i~~ ~~~~ ~ ~ ~ I ~ i ~ (i.e. Conventional. FHA, VA) I~-a-n (Excluding any financed closing costs) in the amount of Balance of down payment due from Purchaser at closing (cash or certified funds) $ Purchaser agrees to apply for said loan within workin g days and to make a diligent and good faith effort to obtain approval. For FHA Loans, attach FilA DISCLOSURES Addendum, 2. SETTLEMENT CHARGES: Purchaser's Loan closing costs, prepaid items, escrows, loan di scount fees, and funding fees, PMI. MIP and VA funding fees. arc to be paid by Purchaser(s) unless herein excepted. Funding fee 10 be financed (type) 0 Yes 0 No Seller agrees to contribute up to S towards Purchaser's Total Settlement Charges including purchaser' s half of title insurance and those costs Purchaser is not allowed to pay under FHAIV A/Conventional requirements, but exclusive of direct seller costs (i.e., Deed, Seller's half of title insurance, payoff expenses, etc.). Seller(s) obligation to payor reimburse Purchaser(s) for any loan closing costs is contingent upon transfer of deed. (a) SURVEY: It is recommended that whenever thle is passed a new survey be obtained which meets the current standards of the Alabama Society of Professional Land Surveyors. If lender or attorney requires a survey the cost of such is considered a settlement charge. (b) CONVEYANCE: Seller(s) will convey to Purchaser(s) a General Warranty deed insuring a good and merchantable title free from any and all encumbrances except current advalorem taxes, recorded restrictions, easements of record, applicable zoning restrictions, any li ens or encumbrances assumed or incurred in this transaction and such state of facts as would be disclosed by an accurate survey of the property. (c) TITLE INSURANCE: An enhanced owner's title insurance policy ("enhanced" policy if property quali fies) and binder wijl be furnished at closing as part of thi s contract. The premium for the owner' s /Iender's title policy, the simultaneous issue fcc, and binder fcc, wi ll be divided equally betwecn thc Seller and Purchaser evcn ifmortgagce is Seller. (d) CLOSING AND POSSESSION: The sale shall be closed and the deed delivered on or before, except that Seller shall have a reasonable time within which to perfect title or cure defects in the title to said propeny. Possession is to be given,--,"",,_-,-,-' NOTE: If Purchaser is given possession prior to closing. or if SeHer is to remain in the propcny after closing, it is recommended that the parties enter into an Occupancy Agreement or Agreement for Rete"t;olt of Possess;o" 3. AGENCY DISCLOSURE: The Listing Company is (Two blocks may be checked) o An agent of the Seller. 0 An agedt of the Purchaser o An agent of both Seller and Purchaser, and is acting as a limited consensual dual agent. o Assisting the Purchaser as a transaction broker. o Assisting the Scller as a transaction broker The Selling Company is: -:c: (Two blocks may be checked) o An agent of the Seller. 0 An agent of the Purchaser o An agent of both Seller and Purchaser. and is acting as a limited consensual dual agent. o Assisting the Purchaser as a transaction broker. o Assisting the Se ller as a transaction broker. Receipt of the Real Estate BrOkerage Services Disclosure form is acknowledged,.. Purchaser(s) initials Seller(s) initials 4. CONDITION OF PROPERTY: (a) Seller agrees to deliver all built-in appliances, heating, cooling, electrical, gas, plumbing, and scpti c systems in nonnal operating condition when titl e is passed or possession is given, whichever occurs first. It is Purcbascr(s) responsibility to make any inspection helshe deems necessary prior to occupancy or closing. It is the Se1ler(s) responsibility to ha ve the utilities turned on if they have been turned off and to maintain utilities through the date of closing. Seller to leave the house, garage, yard, and outbuildings reasonably clean and free of debris... Purchaser(s) ini1ials Seller(s) ini1ials (b) EPA/H UD LEAD-BASED PAINT CONTINGENCY FOR PRE-1978 CONSTRUCTION ONLY: This contract is contingent upon a risk assessment or inspection of the property for the presence of lead-based paint andlor lead-based paint hazards at Purchaser' s expense until 9 p.m. on the calendar day (no more than 10 days) after acceptance of this contract by all parties. (Intact lead-based paint that is in good condition is not necessarily a ha zard. See EPA pamphlet Protect Your Family From Lead in Your Home). This contingency will ternlinate at the above predetennined deadline unless Purchaser (or Purchaser's salesperson) delivers to Seller (or Seller's salesperson) a written contract addendum listing th e specific existing deficiencies, and corrections needed, together with a copy of the inspection and/or risk assessment report. Seller may. at Seller'S option, within days after delivery of the report, eleci in writing whether to correct the condition(s) prior to closing. If Seller will correct the condition(s) Seller will furni sh Purchaser with certification from a risk assessor or inspector demonstrating that the condition has been remedied before the date of closing period. If Seller elects not to make repairs. or if Se ller makes a counter offer, Purchaser(s) wi ll have days to respond to the counter offer, or remove this contingency and take the property "as is", or this conlra ct will become void. Purchaser(s) may remove this contingency at any time without cause. Financed Sales Contract Page I of4 (Revised It -2014) THE USE OF THIS FORM BY ANY ONE OTHER THAN A REAlTOR MEMBER IS STRICTLY PROHIBITED CopyrightO by Huntsville Area Association of REAlTORS, Inc.

16 The EPA/HUD Seller's Disclosure is required by Federal law 10 be attached to this contract and is made a part thereof. - Purchaser(s) hereby removes this contingency. Date Purchaser(s) initials :;- Purchaser(s) acknowledges receipt of the EPA/HUD pamphlet OIProlect Your Family From Lead;n Your Home". - Purchaser(s) initials _-;--;- --;;_---;- (el OFFICIAL ALABAMA \VOOD INFESTATION INSPECTION REPORT: Purchaser will obtain, al his OIl'II expense (Imless " or allowed by VA guidelilles). an Official Alabama Wood In fes tation Report from a licensed extemlinating company in accordance with VA/FHAllender regu lations. Said report to be presented to the closing anomey no less than 7 working days prior to closing. Purchascr wi ll have no obligation to make any corrections. Correclions to be made by Seller unless otherwise mutually agrecd upon by all parties. Follow up inspections arc the responsibility of the Purchaser. Transfer of Seller s termite con tract wi ll su ffice for Official Alabama Wood Infestation Report if acceptable to lender and Purchascr. Any applicable transfer fees wi ll be paid by Purchaser. (d) ADDITIONAL PROPERTY INSPECTlON(S): Purchaser [ldoes CDoes Not require property inspections oth er than those in 4(a) and 4(b). If inspection(sl are required an It,spect;oll Adde"dum is attached. Purchase r agrees to indemni fy Se ller and all real estate licensees for the acts of himself, his inspectors and/or representat ives in exercising hi s rights under this Agreement. Purchasers obligations to indemnify Seller and all real estate licensees shall also su rvive the termination of th is agreement by eithcr party. (e) Neither the Seller, nor any Licensee makes any representation or warranties regarding the condi ti on of the property except to the extent expressly set forth herein. Purchaser has the obligation to determine any and all conditions of th e property materia l to Purchaser's dec ision to buy the property, including, but not limited to, the condition of the heating, cooling, electrical, gas, plumbi ng. and septic systems. and any bui lt in appliances; the roof and basement, including leaks therein; the age, size or area of the property, construction materials, including floors; structural condition: util ity and sewer or septic tank availability or condition: subsurface condit ions, including radon and other potentially hazardous materials and/or gases; flood insurance requirements; present or previous pest and temlite infestations: fungus, mildew and other si milar conditions; any noi se exposures and any matters affecting the character of the neighborhood. (I) FINAL INSPECTION: Purchaser andlor hi s inspectors/representatives shall have the right to conduct a final inspection of the Property prior to closing to confiml the Property is in substant ia ll y the same or better condition as it was on the Binding Agreement Date, nonnal wear and tear excepted and to determine that all agreed upon repairs/repl acements have been completcd. Closing of this sale constitutes acceptance of the Property in its condition as of the time of closing, unless otherwise noted in writing. 5. DISCLAIMER: Seller(s) and Purchaser(s) acknowledge that they have not relied upon any advice or representations of any real estate licensee involved in this sale re lative to (i) the legal or tax consequences of this contract and the sale, purchase, or ownership of the property, (ii) the structural condition of the property, including the roof and basement, (iii) construction materials, (iv) the nature and operating condition of the electrical, heat ing, air conditioning. plumbing and water systems and appliances. (v) the age and square footage ofthc improvements, and the size or area of the property, (vi) the availability of utilities or sewer service, (vii) the character of the neighborhood, (viii) the investment or resa le va lue of the propeny, (ix) any other matter affecting their wi llingness to se ll or purchase the property on the terms and price herein set forth. SeUer(s) and Purchaser(s) acknowledge that if such matters are of concern to them in the decision to se ll or purchase the property, they have sought and obtained independent advice relative thereto... Purchaser(s) initials Seller(s) initials 6. FINANCING FHA LOAN: If FHA financing is used the attached FHA DISCLOSURES Addendum is incorporated herewith and made a part hereof. VA LOAN: If VA financing is used it is expressly agreed that notwithstanding any other provisions of this contract. Purchaser shall not incur any penalty by fo rfeiture of earnest money or ot herwise be obligated to complete the purchase of the property described herein if the contract purchase price exceeds the reasonable value of the property established by the Veterans Administration. Purchaser shall, however, have the privilege and option of proceeding with the consummation of this contract without regard to the amount of the reasonable value established by the Vetcrans Administration. CONVENTIONAL LOAN: If Conventional financing is used the Purchaser acknowledges that any appraisal required by the lender is used by the lender to determine the maximum mortgage amou nt and does not warrant the value or condition of the property. 7. PRORATION: All taxes, any association dues/fees and rents will be prorated as of the consummation of the sale. The tax proration herein ca lled for wi ll be based upon infonnation obtained from the Tax Assessor or Tax Collector's office. Any changes in such assessment after closing will be adjusted accordingly between Seller and Purchaser. 8. RISK OF LOSS: Seller agrees to keep in force suffi cient hazard insurance on the property to protect all interests until the sale is closed and the deed deli vered. If the property is destroyed or materially damaged between the date hereof and the closing. and Seller is unab le or unwilling to restore it to its previous condition prior to closing, Purchaser will have the option of canceling this contract and receive back the earnest money, or accepting the property in its then condition. If Purchaser clects to accept the property in its damaged condition, any insurance proceeds otherwise payable to Seller by reason of such dam age wi ll be applied to the balance of the purchase price or otherwise be payable to Purc haser. 9. SYSTEMS, EQUIPMENT AND APPURTENANCES: The following items are included in this sa le, if present: all heating and cooling equipment, water heaters, door bells, mantels, light fi xtures and bu lbs and ceiling fans, including fan remote controls: stoml doors, garage door openers and remote controls, range. oven, install ed dishwasher, permanently installed refrigerator, and all other built-in kitchen appl iances; framed bathroom mirrors and permanently attached plate glass mirrors; all bathroom fixtures; blinds, window treatment s and hardware; all wall to-wall carpet; all gas logs, fi replace doors and attached screens; all sec urity system components and controls: permanently installed hot tub. above ground and in ground swimming pool and its equipment: permanently installed outdoor water features, awnings. permanently installed outdoor cooking grills; se ller owned propane tanks: all landscaping and all outdoor lighting, both wi red and solar; mail boxes: attached basketball goals and backboards; TV antennae and se ller owned satell ite dishes (excluding components); central vacuum systems and attachments. There shall be no substitutions or rcplaeements of any of the above without the express written agreement of the parties. It ems which do not belong to th e sell er, such as leased security systems. satellite system, water softener systems. fuel tank, etc., do not co nv ey and are not a part of this contract. - Purchaser(s) initials SeUer(s) initials,..-_-,-" SELLER WARRANTS that Seller has not recei ved from any lawful authority notification regarding any assessments, pending public improvements. repairs. replacements or alterations to the property that have not been sa ti sfactori ly made. Financed Salcs Contract Page 2 of4 (Revised ) THE USE OF THIS FORM BY ANY ONE OTHER THAN AREAL TOR MEMBER IS STRICT LY PROHIBITED CopyrighlO by HUnisvillc Area Association of REAL TORS. Inc.

17 II. DEFAULT. Should eilher Ihe Seller or Purchaser fa il to carry OUi the terms of thi s contract in accordance with all its provisions. an aggrieved party shall have the option to do one of the following: - Purehaser(s) initials Seller(s) initials ::-:=;-:-;---;:-;--;;-;;:;-;-;-;-;; (a) File a proceeding in a Court of competent jurisdiction provided (I) the proceedings are non-jury and THE RIGHT TO TRIAL BY JURY IS WA IVED, (2) the amount in controversy (excluding fund s held as earnest money) does not exceed $ and (3) no licensed real estate professional is a party, except as a stake holder of carnest money; OR. (b) Reaffirlll the contract and proceed through binding arbitration under paragraph 13 for the recovery of damages and/or for specific performance. The damages in either instance may include any cost(s) incurred by the non-breaching party including reasonable allorney's fees. 12. TRUST ACCOUNT: Seller and Purchaser hereby direct the Selling Company (working with the Purchaser and herein referred to as "Holder") to deposit the earnest money in Holder's escrow account pending fulfillment of this contract. Earnest money shall be deposited within two banking days after the binding agreement date. Proof of earnest money will be furnished to the Listing Company upon receipt. It is understood that the Holder is, (a) noi a party to this contract and does not assume any liability for performance or non-performance of any signatory, (b) must require from all signatories a written release of liability of the Holder which authorizes the release of the earnest money. Tn the event a dispute arises between the parties to Ihis contract as to which shall be entitled to said earnesl money, Ihe Holder may interplead said earnest money into the proper court, and in so doing shall be entitled to deduct from the earnest money for court costs, attorney's fee, and other expenses relating to the interpleader Alternatively, any party may proceed in a court of competent jurisdiction for interpleading of said eamest money. The prevailing party in any inlerpleader aclion shall be entitled to collect from the other party the court costs, attorney's fees and other expenses of the interpleader which shall be paid to the prevailing party. In the event any Earnest Money check is not honored, for any reason, by the bank upon which it is drawn, Holder shall promptly notify Purchaser and Seller. Purchaser shall have two (2) working days after notice to deliver good funds to Holder. In the event Purchaser does not timely deli ver good funds within two (2) working days, Purchaser is in default and the Seller may cancel the contract by notice to the Purchaser. In any proceedings under this paragraph. the right to trial by jury is wai ved. - Purchaser(s) initials Scllcr(s) initials _---;- -;---;-_""""'_ 13. ALTERNATIVE DISPUTE RESOLUTION AGREEMENT BY BINDING ARBITRATION: In connection with the purchase and sale ufthe above described property, except for those disputes described in Paragraph 12 Purchaser and Seller muruajly covenant. stipulate and agree in connection with the resolution of any dispute or controversy arising out of or relating to this agreement or concerning the within described property, or the breach, termination, or validity thereof, as follows : That the transaction contemplated in this agreement directly involves interstate commerce, and said transaction has been and will continue to be regulated by the laws of the United States of America: and, that the contract(s) entered into by the parties concerning this property evidence transactions involving and affecting commerce. The undersigned agrees that all disputes not barred by applicable statutes of limitations or othetwise barred by law. resulting from or arising out of thi s agreement: that included herein in matters to be arbitrated are equitable claims and remedies, including specific perfonnance and rescission; that Purchaser and Seller agree to submit such dispute(s) to BINDING ARBITRA non, pursuant to the provisions of 9 V.S.c. Section I, et seq and according to the Commercial Rules of the American Arbitration Association then existing in the County where the property being sold is located, and shall be decided by an arbitrator recognized by the Alabama Center for Dispute Resolution and pursuant to the rules of American Arbitration Association or, if agreed by both parties, some other recognized body and pursuant to the rules of American Arbitration Association. The prepaid arbitration filing fees and all other prepaid costs of the arbitration proceeding sha ll be paid by the party seeking to invoke arbitration, with the assignment of Ihose costs to be divided between the parties as the arbitrator sees fit in selling the Arbitration Award. Damages Illa y include reasonable allorney ' s fees. II is hereby agreed that it is Ihe intent of the parties th at the Arbitrator' s Award is to be final and binding and judgment upon the award rendered by Ihe arbitration may be entered in any court having jurisdiction thereof. This ahernalive dispute resolution agreement shall specifically exclude those disputes provided for in paragraph I2 and shall further specifically exclude those disputes as defined in paragraph II (a); however, it is mutually agreed, covenanted, and slipulated that the right to a trial by jury is hereby waived. EXCEPT AS SPECIFICALLY PROVIDED HEREIN. THIS ARBITRATION SHALL BE IN LIEU OF ANY CIVIL LITIGATION IN ANY COURT. AND IN LIEU OF ANY TRIAL BY JURY. 14. TERMINOLOGY: For the purposes of this contract. (I) the term working day(s) used throughout this Agreement shall be deemed to be weekdays (Monday-Friday) ending at 11 :59 p.m. local time (at the location of the Premises) unless otherwise specified in this Agreement. In the event a perfonnance deadline occurs on a Saturday, Sunday or holiday, as defined herein, the perfornlance deadline shall be extended to the next following working day. In calculating any time period under Ihis Agreement, the commencement day shall be the day following the initial date (e.g. Binding Agreement Date). The following days shall be recognized as holidays: New Years Day, Memorial Day, Independence Day, Labor Day, Thanksgiving Day and Christmas Day. I S. ELECTRONIC SIGNATURES: Faxed or olher electronically transmined documents with signatures shall serve as originals and be binding on all parties. 16. ENTIRE AGREEi\1.ENT: This contract, together wilh any addendums, constitutes the entire agreement between Seller and Purchaser regarding the property and supersedes all prior discussions. negotiations and agreements between Seller and Purchaser whether oral or wrinen. Neither Seller, Purchaser. Broker, nor any licensee, shall be bound by any understanding, agreement, promise, or representation concerning the property, expressed or implied, not specified herein. All terms. conditions, and warranties not perfonned al the time of delivery of deed shall survive such delivery. ADDITIONAL PROVISIONS: Financed Sales Contract Page 3 of4 (Revised ) THE USE OF THIS FORM BY ANY ONE OTHER THAN A REALTOR MEMB ER IS STRICTLY PROHIBITED CopyrightO by Huntsville Area Association of REA LTORS, Inc.

18 ADDITIONAL PROVI SIONS Continued: PURCHASER DATE WITNESS DATE PURCHASER DATE WITNESS DATE PURCHASER DATE WITNESS DATE Seller Hereby: (Initial ONE) ACCEPTS - this offer. **Do not initial here unless offer is being accepted! ** REJECTS - this offer and makes no counter offer. COUNTERS - separate Counter Offer form is attached. DYes 0 No 1. The Seller reserves the ri ght to accept any other Offer prior to Purchaser's written acceptance of th is Counter-Offer. Acceptance shall not be effective until personally rece ived and acknowledged by (Li sting Agent) as evidenced by signing the Binding Agreement Date below. 2. This Counter-Offer sha ll ex pire unless a signed copy of acceptance is delivered to the person(s) making this Counter Offer (or their agent) by o a.m. 0 p.m. on (date). 3. Upon acceptance by both parties. as herein specified, this Counter-Offer. if any. together with the offer of the Purchaser, and any addendum, shall compose the entire agreement between the parties hereto. SELLER DATE WITNESS DATE SELLER DATE WITNESS DATE SELLER DATE WITNESS DATE Binding Agreement Date: The listing agent confinns that the contract was fin alized, accepted and deli vered to all parties (and/or their representatives) either in writing or electronically and the bind ing agreement date to begin contract performance IS: Date: Binding Agreement Date by Listing Agent Signature Listing Sclling Company 10#,Company 10# LiSiing Selling Salcsperson -----====-:-:-777:OC----- IO# Salesperson --;;;;;;-;;;:;~=-;-;;:;----- ID # (PRINTED NAME) (PRINTED NAM E) Listi ng Emai l: Selling Listing Phone: Selling Phone: Fi nanced Sales Contract Page 4 of4 (Revised ) H IE USE OF THI S FO RM BY AN Y ONE OTHER T HAN A REALTOR MEM BER IS STRICTLY PR OHIBITED CopyrightO by Huntsville Area Association of REA L TORS. Inc.

19 I:B PE... l TO R~ CASH SALES CONTRACT The undersigned Pufchaser(s)-,-,-- hereby agree to purchase and the undersigned Seller(s) hereby agree to sell and convey the following described real estate together with all improvements, shrubbery, plantings and appurtenances, including but not limited to those items described in paragraph 9 herein, on the tcnns and conditions described below. If any personal items remain with the property, they are left "as is" and al no va lue to the propeny. Address City County Statc Zip Lo' Block Subdivision Addition Legal Description: I. TOTAL PURCHASE PRICE shall be. Earnest money $, $, Balance due from Purchaser at closing (cash or certified funds)......,$, Purchaser to deliver proof of funds to Seller within day(s) of Binding Agreement Dale. 2. SETTLEMENT CHARGES: Attorney closing fcc. title examination fee, and deed recording fee to be paid by: Deed preparation to be paid by Seller. (a) SURVEY: It is recommended that whenever title is passed a new survey be obtained which meets the current standards of the Alabama Society of Professional Land Surveyors. If Purchaser or allorney requires a survey the cost of such is to be paid by Purchaser. (b) CONVEYANCE: Seller(s) will convey to Purchaser(s) a General Warranty deed conveying a good and merchantable title free from any and all encumbrances except current ad valorem taxes. recorded restrictions. easements of record. applicable zoning restrictions, any liens or encumbrances assumed or incurred in thi s transaction and such state of facts as would be disclosed by an accu rate survey of the property, (c) TITLE INSURANCE: An enhanced owner's titl e insurance policy ("enhanced" policy if property quali fies) and binder wi ll be furnished at Closing as part of this contract. The premium for the owner's title policy. the simultaneous issue fcc, and binder fee, will be divided equally between the Seller and Purchaser. (d) CLOSING AND POSSESSION: The sale shall be closed and deed delivered on or before except that Seller shall have a reasonable length of time within which to perfect title or cure defects in tille to said property. Possession to be given ----;-;-c;---:-.,,-----:c NOTE: If Purchaser is given possession prior to closing, or if Seller is to remain in property after closing, it is recommended that the parties enter into an Occupancy Agreement or Agreemelft for Retelftioll of Possession. J. AGENCY DISCLOSURE: The Listing Company is The Selling Company is: (Two blocks may be checked) (Two blocks may be checked) DAn agent of the Seller. 0 An agent of the Purchaser. 0 An agent of the Seller. 0 An agent of the Purchaser. o An age nt ofbolh Seller and Purchaser, and 0 An agent of both Seller and Purchaser, and is acting as a limited consensual dual agent. is acting as a limited consensual dual agent. Assisting the Purchaser as a transaction broker. 0 Assisting the Purchaser as a transaction broker. o Assisting the Seller as a transaction broker. 0 Assisting the Seller as a transaction broker. Receipt of the Real Estate Brokerage Services Disclosure fonn is acknowledged... Purchaser(s) initials Seller(s) initials 4. CONDITION OF PROPERTY: (a) Seller agrees to deliver all built-in app li ances, healing. cooling. electrical. gas, plumbing, and septic systems in normal operating condition when title is passed or possession is given. whichever occurs first. It is Purchaser(s) responsibility to make any inspection he/she deems necessary prior to occupancy or closing. It is the Seller(s) responsibility to have the utilities turned on if they have been turned off and to maintain utilities through the date of closing. Seller to leave the house, garage, and outbuildings reasonably cleaned and free of debris... Purchaser(s) initials SeUer(s) initials.,--- ~ (b) EPA/HUD LEAD-BASED PAINT CONTINGENCY FOR PRE-1978 CONSTRUCTION ONLY: This contract is conti ngent upon a risk assessment or inspection of the property fo r the presence of lead-based paint and/or lead-based paint hazards at Purchaser'S expense until 9 p.m. on the calendar day (no more than 10 days) after acceptance of this contract by all panics. (Intact lead-based paint that is in good condition is not necessarily a hazard. Sec EPA pamphlet Prote,:, Your Family From Lead;/I Your Home). This contingency will temlinate at the above-predetennined deadline unless Purchaser (or Purchaser's salesperson) delivers to Seller (or Seller's salesperson) a writlen contract addendum listing the specific existing deficiencies. and corrections needed. together with a copy of the inspection and/or risk assessment report. Seller may, at Seller'S option, within days aoer delivery of the report, elect in writing whether to correct the condition(s) prior to closing. If Seller wi ll correct the condition(s) Seller will furnish Purchaser with certification from a risk assessor or inspector demonstrating that the condition has been remedied before the date of closing period. If Seller elects not to make repairs, or if Seller makes a counter offer. Purchaser(s) will have days to respond 10 the counter offer, or remove this contingency and take the property "as is", or thi s contract will become void. Purchaser(s) may remove this contingency at any time without cause. The EPA/HUD SeUer's Disclosure is required b~ ' Federal law to be attached to this contract and is made a part thereof... Purchaser(s) hereby removes this contingency. Date Purchaser(s} initials - Purchaser(s) acknowledges receipt of the EPA/HUD pamphlet Protect Your Family From Lead;" Your Home. Purchaser(s) initials -=~-c C~=~ Cash Sales Contract Page 1 of 4 (Revised ) THE USE OF THIS FORM BY ANY ONE OTHER THAN AREAL TOR MEMBER IS STRICTLY PROHIBITED Copyright by Huntsville Area Association of REAL TORS, Inc.

20 OFFICIAL ALABAMA WOOD INFESTA non INSPECTION REPORT: Purchaser will obtain an Official Alabama Wood Infestation Report from a licensed extemlinating company in accordance with V AIFHA/lender regulations. Said report to be presented to the closing attorney no less than 7 working days prior to closing. Purchaser will have no obligation to make any corrections. Corrections to be made by Seller unless otherwise mutually agreed upon by all parties. Follow up inspections are the responsibil ity of th e Purchaser. Transfer of Seller's temlite contract will su ffice for Official Alabama Wood Infestation Rcport if acceptable to Purchaser. Any applicable transfer fees wi ll be paid by Purchaser. (c) ADDITIONAL PROPERTY INSPECTION(S): Purchaser 0 Does 0 Docs Not require property inspections other than those in 4(a) and 4(b). If inspection(s) are required an Illspectioll Addendum is attached. Purchaser agrees to indemnify Seller and all real estate licej/sees for the acts of himself, hi s inspectors and/or representatives in exercising his rights under this Agreement. Purchaser's obligations to indemnify Sell er and all real estate licensees shall also survive the terminatio n of this agreement by either party. (d) Neither the Seller, nor any Licensee makes any representation or warranties regarding the condition of the property except to the extent expressly set forth herein. Purchaser has the obli gation to determine any and all conditions of the property material to Purchaser's decision to buy the property. including, but not limited 10, the condition of the heating, cooling, electrical, gas, plumbing, and septic systems. and any builtin appliances; the roof and basement, including leaks therein; the age, size or area of the property, construction materials, including floors; strucll.lral condition; utility and sewer or septic tank availability or condition; subsurface conditions, including radon Dnd other potentially hazardous materials and/or gases; flood insurance requircments; any noise exposures; and any matters affecting the character of the neighborhood. (e) FINAL INSPECTION: Purchaser and/or his inspectors/representatives shall have the right to conduct a final inspection of the Property prior to closing to confirm the Property is in substantially the same or better condition as it was on the Binding Agreement Date. normal wear and tear excepted and to determine that all agreed upon repairs/replacements ha ve been completed. Closing of this sale constitutes acceptance of th e Property in it s condition as of the time of closing, un less othen\lise noted in writing. S. DISCLAIMER: SeJ1er(s) and Purchaser(s) acknowledge that they have not relied upon any advice or representations of any real estate licensee involved in this sa le relative to (a) the legal or tax consequences of this contract and the sale, purchase, or ownership of the property, (b) the structural condition of the property. including the roof and basement, (c) construction materials. (d) the nature and operating condition of the electrical, heating, air conditioning, plumbing and water systems and appliances, (e) the age and square footage of the improvements, and the size or area of the property, (f) the availability of utilities or sewer scrvice, (g) the character of the neighborhood, (h) the investment or resale value of the property. (i) any other matter affecting their willingness to se ll or purchase the property on the terms and price herein set forth. Seller(s) and Purchaser{s) acknowledge that if such matters are of concem to them in the dccision to se ll or purchase the property, they have sought and obtained independent advice rela ti ve therelo. - Purchascr(s) initials SelJer(s) initials -'----;:-""7-6. FUNDS AT CLOSING: Payment of the balance due at closing of the property shall be by certified funds or by wire transfer. W~;r-e-t"'ra-n-s-;fe-rs shall be sent to thc closing agent's account at least 24 hours prior to closing. No actual cash or personal checks will be accepted un less nominal in amount and specifically approved by the closing agent. 7. PRORATION: All taxes. any association dues/fees and rents will be prorated as of the consummation of the sale. The tax proration herein called for will be based upon infornlation obtained from the Tax Assessor or Tax Collector' s office. Any changes in such assessment after closing will be adjusted accordingly between Seller and Purchaser. 8. RISK OF LOSS: Seller agrees to keep in force sufficient hazard insurance on the property to protect all interests until the sale is closed and the deed delivered. If the property is destroyed or materiall y damaged betwecn the date hereof and the closing, and Seller is unable or unwilling to restore it to its previous condition prior to cl osing. Purchaser will have the option of canceling this contract and receive back the earnest money, or accepting the property in its then condition. If Purchaser clects to accept thc property in its damaged condition, any insurance proceeds otherwise payable to Seller by rcason of such damage will be applied to the balance of the purchase price or otherwise be payable to Purchaser. 9. SYSTEMS, EQUIPMENT AND APPURTENANCES: The following items are included in this sale. if present: all heating and cooling equipment, water heaters, door bells, mantels. light fix tures and bulbs and ceiling fans, including fan remote controls; storm doors, garage door openers and remote controls. range, oven, installed dishwasher. pemlanently installed refrigerator, and all other built-in kitchen appliances; framed bathroom mirrors and permanently attached plate glass mirrors; all bathroom fixtures; blinds, window treatments and hardware: all wall-to-wall carpet; all gas logs, fireplace doors and attached screens; all security system components and controls; pennanently install ed hot tub, above ground swimming pool and its equipment; permanently install ed outdoor water featu res, awnings, permanently installed outdoor cooking grills; sell er owned propane tanks; all landscaping and all outdoor lighting. both wired and solar; mail boxes; attached basketball goals and backboards; TV antenn ae and Seller owned satellite di shes (excluding components); central vacuum systems and att achments. There shall be no substitut ions or replacements of any of th e above without the ex press written agreement of the parties. Items which do not belong to th e Sell cr. such as leased security systems, satellite system, water softener systems, fuel tank, etc., do not convey and are not a part of this coolracl. - Purchaser(s) initials Seller(s) initials -----;:---:-:c 10. SELLER WARRANTS that Seller has not received from any lawful authority notification regarding any assessments, pending pu bli c improvements, repairs, replaccments or alterations to the property that have not been satisfactorily made, II. DEFAULT: Should either the Sel ler or Purchaser fail to carry out the terms of this contract in accordance wit h all its provisions, an aggrieved party shall have the option to do one of the fo llowin g: (a) File a proceeding in a Court of competent jurisdiction provided (a) the proceedings arc non-jury and THE RIGHT TO TRJAL BY JURY IS WAIVED. (b) the amount in controversy (excluding funds held as earnest money) does nol exceed $ and (c) no licensed real estate professional is a party. cxcept as a stake holder of earnest money; OR, (b) Reaffinn the contract and proceed through binding arbitration under paragraph 13 for the recovery of damages and/or for specific performance. The damages in either instance may include any cost(s) incu rred by the non-breaching pany including reasonable attorney's fees. Cash Sales Contract Page 2 of 4 (Revised ) THE USE OF THIS FORM BY ANY ONE OTHER THAN A REALTOR MEMBER IS STRICTLY PROHIBITED Copyright by Huntsville Area Association of REAL TORS, Inc.

21 12. TRUST ACCOUNT: Seller and Purchaser hereby direct the Selling Company (working with Purchaser and herein referred to as Holder) to deposit the earnest money in Holder's escrow account pending fulfillment of thi s contract. Earnest money shall be deposited within two banking days after the binding agreement date. Proof of earnest money will be furnished to the Listing Company upon receipt. It is understood that the Holder is, (a) not a party to thi s contract and does not assume any liability for perfomlance or non-perfonnance of any signatory, (b) must require from all signatories a written release of liability of the Holder which authorizes the release of the earnest money. In the event a di spute arises between the parties to thi s contract as to which shall be entitled to said earnest money, the Holder may interplead sa id earnest money into the proper court, and in so doing shall be entitled to deduct from the earnest money for coun costs, attorney's fee, and other expenses relating to the interpleader Alternatively, any party may proceed in a court of competent jurisdiction for interpleading of said earnest money. The prevailing party in any interpleader action shall be entitled to collect from the other party the coun costs. anorney's fees and other expenses of the interpleader which shall be paid to the prevailing party. In the event any Earnest Money check is not honored, for any reason, by the bank upon which it is drawn, Holder shall promptly notify Purchaser and Seller. Purchaser shall have two (2) working days after notice to deliver good fund s to Holder. In the event Purchase r does nol timel y deliver good funds within two (2) working days, Purchaser is in default and the Sell er may cancel the contract by notice to the Purchaser. In any proceedings under this paragraph, the right to trial by jury is waived. 13. ALTERNATIVE DISPUTE RESOLUTION AGREEMENT BY BINDING ARBITRATION: In connection wit h the purchase and sale of the above described property, except for those disputes described in Paragraph 12 Purchaser and Seller mutually covenant, stipulate and agree in connection with the resolution of any di spute or controversy arising out of or relating to this agreement or concerning the within described property, or the breach, tennination, or va lidity thereof, as follows: That the transaction contemplated in thi s agreement directly involves interstate commerce, and said transaction has been and will continue to be regulated by the laws of the United States of America; and, that the contract(s) entered into by the parties concerning thi s property evidence transactions involving and affecting commerce. The undersigned agrees that all di sputes not barred by applicable statutes of limitations or otherwise barred by law, result in g from or arising out of thi s agreement; that included herein in matters to be arbitrated are equitable claims and remedies, including specific perfonnance and rescission; thai Purchaser and Seller agree to submit such dispule(s) to BINDING ARBITRATION, pursuant to the provisions of 9 U.S.c. Section 1, et seq and according to the Commercial Rules of the American Arbitration Association then existing in the County where the property being sold is located, and shall be decided by an arbitrator recognized by the Alabama Center for Dispute Resolution and pursuant to the rules of American Arbitration Association or, jf agreed by both panies, some other recognized body and pursuant to the rules of American Arbitration Association. The prepaid arbitration filing fees and all other prepaid costs of the arbitration proceeding shall be paid by the party seeking to invoke arbitration, with the assignment of those costs to be divided between the panies as the arbitrator sees fit in setting the Arbitration Award. Damages may include reasonable attorney's fees. It is hereby agreed that it is the intent of the parties that the Arbitrator's Award is to be final and binding and judgment upon the award rendered by the arbitration Illay be entered in any court having jurisdiction thereof. This alternative dispute resolution agreement shall specifically exclude those di sputes provided for in paragraph 12 and shall further specifically exclude those di sputes as defined in paragraph Il(a); however, it is mutually ag reed, covenantcd, and stipulated that the right to a trial by jury is hereby waived. EXCEPT AS SPECIFICALLY PROVIDED HEREI N, THIS ARBITRATION SHALL BE IN LIEU OF ANY CIVIL LITIGATION IN ANY COURT. AND IN LIEU OF ANY TRIAL BY JURY. 14. TERMINOLOGY: For the purposes of this COnlTact, the term working day(s) uscd throughout this Agreement shall be deemcd to be weekdays (Monday-Friday) ending at 11 :59 p.lll. local time (at the location of the Premises) unless otherwise specified in thi s Agreement. In the event a pcrfonnance deadline occurs on a Saturday, Sunday or holiday, as defined herein, the performance deadline shall be extended to the next following working day. In calculating any time period under thi s Agreement, the commencement day shall be the day following the initial date (e.g. Binding Agreement Date). The following days shall be recognized as holidays: New Years Day, Memorial Day, Independence Day, Labor Day, Thanksgiving Day and Christmas Day. IS. ELECTRONIC SIGNATURES: Faxed or other electronically transmitted documents with signatures shall serve as originals and be binding on all parties. 16. ENTIRE AGREEMENT: This contract, together with any addendums. constitutes the entire agreement between Seller and Purchaser regarding the property and supersedes all prior discussions. negotiations and agreements between Seller and Purchaser whether oral or written. Neither Seller, Purchaser, Broker, nor any licensee. shall be bound by any understanding, agreement. promise, or representation concerning the property, expressed or implied, not specified herein. Alltenns, conditions, and warranties not perfonned at the time of deli very of deed shall survive such delivery. ADDITIONAL PROVISIONS; Cash Sales Contract Page 3 of 4 (Revised ) THE USE OF THIS FORM BY ANY ONE OTHER THAN A REALTOR MEMBER IS STRICTLY PROHIBITED Copyright > by Huntsville Area Association of REAL TORS, Inc.

22 ADDITIONAL PROVISIONS Continued: PURCHASER DATE WITNESS DATE PURCHASER DATE WITNESS DATE PURCHASER DATE WITNESS DATE Seller Hereby: (Initial ONE) ACCEPTS - this offer. **Do not initial here unless offer is being accepted! ** REJECTS - this offer and makes no counter offer. COUNTERS - separate Counter Offer form is attached. DYes 0 No t. The Seller reserves the ri ght to accept any other Offer prior to Purchaser's written acceptance of this Counter-Offer. Acceptance sha ll not be effective until personall y received and acknowledged by (Listing Agent) as evidenced by signing the Binding Agreement Date below. 2. This Counter-Orfer shall expire unless a signed copy of acceptance is delivered to the person(s) making thi s Counter Offer (or thei r agent) by o a.m. 0 p.m. on (date). 3. Upon acceptance by both parries, as herein specified, thi s Counter-Offer, if any, together with the offer of the Purchaser, and any addendum, shall compose the entire agreement between the parties hereto. SELLER DATE WITNESS DATE SELLER DATE WITNESS DATE SELLER DATE WITNESS DATE Binding Agreement Date: The listing agent confimls that the contract was finalized, accepted and delivered 1.0 all parties (and/or their representatives) either in writing or electronically and the bi nding agreement date to begin contract perfomlance IS: Date: Binding Agreement Date by Listing Agent Signature Listing Selling Company I0# Company 10# Listing Selling Salesperson ====:::-:-:-:-:-:::::- 10# Salesperson ===::-:-:-:c:-:::::- ID# (PRINTED NAME) (PRINTED NAME) Li sting Selling Listing Phone: Selling Phone: Cash Sales Contract Page 4 of 4 (Revised ) THE USE OF THIS FORM BY ANY ONE OTHER THAN A REALTOR MEMBER IS STRICTLY PROHIBITED Copyright by Huntsville Area Association of REAL TORS, Inc.

23 S LLh rl\ I tt-e-j LAND SALES CONTRACT The undersigned Purchaser(s) hereby agree to purchase and the undersigned Scller{s) hereby agree to se ll and convey the following described real eslate, located in County, State of together with all improvements, landscaping, fixtures, and appurtenances. and on the tenlls and conditions described in Additional Provisions. If any personal items remain with the property. they are left "as is" and at no value to the property. Address/Legal Description: o Financed Sale: This contract is contingent upo n Purchaser obtaining loan approval (excluding any financed closing costs) in the amount stated in Paragraph \. Purchaser agrees to apply for financing within working days and to make a diligent and good faith effort to obtain approval. Within working days after Binding Agreement Date, Purchaser shall provide to Seller or Seller's representative a conditional commihnent letter. o Cash Sale: Purchaser to deliver proof of funds to Seller within day(s) of Binding Agreement Date. Payment of the balance due at closing of the property shall be by cashier's check or certified funds, or by wire transfer. Wire transfers sha ll be sent to the closing agent's account at least 24 hours prior to cl osing. No actual cash or personal checks will be accepted unless nominal in amount and specifically approved by the closing agent. I. TOTAL PURCHASE PRICE shall be $, Earnest money $, *Financed amount $, Balance of down payment due from Purchaser at closing (cash or certified funds)... $ ~ -,-_ 2. SETTLEMENT CHARGES: Senlement Charges exclusive of direct se ll er costs (i.e., Deed, Seller's halfofritle insurance, payoffexpcnses, etc.) to be paid by Purchaser. Seller agrees to contribute up to $ towards Purchaser'S tolal Settlement Charges. Seller's ob ligation to payor reimburse Purchaser(s) for any settlement charges is contingent upon transfer of deed. (a) SURVEY: It is recommended that whenever title is passed a new survey be obtained which meets the current standards oc the Alabama Society oc ProCessional Land Surveyors. If lender or attorney requires a survey the cost of such is considered a settlement charge. (b) CONVEYANCE: Seller(s) will convey to Purchaser(s) a General Warranty deed insuring a good and merchantable title free from any and all encumbrances exccpt current advalorem taxes, recorded restrictions, casements of record, applicable zoning restrictions, any liens or encumbrances assumed or incurred in this transaction and such slate of facts as would be disclosed by an accurate survey of the property. (c) TITLE INSURANCE: An enhanced owner's title insurance policy ("enhancl'd" policy if property qualifies) and binder wi ll be furnished at closing as part of thi s contracl. The premium for the owner's Ilender's litle policy. the simultaneous issue fee, and binder fee, will be divided equally between the Seller and Purchaser even if mortgagee is Seller. (d) CLOSING AND POSSESSION: The sale shall be closed and the deed delivered on or before,except that Seller shall have a reasonable time within which to perfect title or cure defects in the title to sa id property. Possession is to be given: 3. AGENCY DISCLOSURE: The Listing Company is: The Selling Company is: -,,.- (Two blocks may be checked) (Two blocks may be checked) An agent of the Seller. 0 An agent of tile Purchaser. 0 An agent of the Seller. 0 An agent of the Purchaser. o An agent of both Seller and Purchaser, and 0 An agent of both Sellcr and Purchaser, and is acting as a limited consensual dual agent. is acting as a limited consensual dual agent. Assisting the PlITchaser as a transaction broker. 0 Assisting the Purchaser as a transaction broker. o Assisting Ihe Seller as a transaction broker. 0 Ass isting the Seller as a transaction broker. Receipt of the Real Estate Brokerage Services Disclosure Corm is acknowledged. - Purchaser(s) initials Seller(s) initials 4. DISCLAIMER: Seller(s) and Purchaser(s) agree that they have not relied upon any advice or representations of any real estate licensee involved in this sale relative to (a) the legal or tax consequences of this contract and the sale. purchase. or owncrship of the property, (b) the structural condition of any improvements (c) the age and square footage of any improvements, and the size or area of the property, (d) the availability of utilities or sewer service, (e) the character of the neighborhood, (f) the investment or resale value of the property, (g) any other matter affecting their willingness 10 sell or purchase the property on the tenns and price herein set forth. Seller(s) and Purchaser(s) acknowledge that if such matters are of concern to them in the decision 10 se ll or purchase the property, they have sought and obtained independent advice relati ve thereto. - Purchaser(s) initials Seller(s) initials S. ENVIRONMENTAL CONDITION: Sell cr(s) and Purchaser(s) agrec that (a) the Listing Company has made no representations or warranties as 10 the physical condition of the property and/or improvements, if any, (b) that the Listing Company is not fami liar with the environmental condition of the property and has made no representation or warranty (e) that the property is or is not free from the presence of hazardous or toxic substances. lead based paint, radon gas, underground storage tanks. landfills, cemetcries, burial grounds, flood zones, floodways, wetlands, caves, sinkholes, landslide areas, or any salient features or other environmental condition or hazard. No warranty is made regarding suitability of the real estate for any type of septic systems. Seller and Purchaser acknowledge that if such matters are of concern to them that they have obtained and sought out independent advice relative thereto. 6. INSPECTIONS: Purchaser 0 Does 0 Does Not require, as a contingency of this contract, a due diligence period of working days to satisfy themselves of the suitability of the Property (percolation. zoning. utilities availability. etc.). Time is of the essence regarding this provision. 7. FINANCING: If financing is used, the Purchaser acknowledges that any appraisal required by the lender is used by the lender to detennine the maximum loan amount and does not warrant the value or condition of the property. Land Sales Contract Page lof3 (Revised ) THE USE OF THIS FORM BY ANY ONE OTHER THAN AREAL TOR MEMBER IS STRICTLY PROHIBITED CopyrightO by Huntsvitte Area Association of REAL TORS. Inc.

24 8. PRORATION: All taxes. any association dues/fees and rents will be prorated as of the consummation o f the sale. The tax proration herein called for will be based upon information obtained from the Tax Assessor or Tax Collector's office. Any changes in such assessment after closing wiil be adjusted accordingly between Seller and Purchaser. 9. SELLER WARRANTS that Seller has not received from any lawful authority notification regarding any assessments, pending public improvements. repairs, replacements or alterations to the property that have nol been satisfactorily made. to. DEFAULT: Should either the Seller or Purchaser fail to carry out the tenns of this contract in accordance with all its provisions, an aggrieved party shall have the option to do one of the following: (a) File a proceeding in a Court of competent jurisdiction provided (1) the proceedings are non-jury and THE RIGHT TO TRIAL BY JURY IS WAIVED, (2) the amount in controversy (excluding funds beld as earnest money) does not exceed $3, and (3) no licensed real estate professional is a party, except as a stake holder of earnest money; OR, (b) Reaffirnl the contract and proceed through binding arbitration under paragraph 12 for the recovery of damages and/or for specific perfonnance. The damages in either instance may include any cost(s) incurred by the non-breaching party including reasonable attorney's fees. II. TRUST ACCOUNT: Seller and Purchaser hereby direct the Selling Company (working with Purchaser and herein referred to as Holder) to deposit the earnest money in Holder's escrow account pending fu lfillment of this contract. Earnest money shall be deposited within two banking days after the binding agreement date. Proof of earnest money will be furnished to the Listing Company upon receipt._ 1t is understood that the Holder is, (a) not a party to this contracl and does not assume any liability for pcrfonnancc or non-performance of any signatory, (b) must require from all signatories a written release of liability of the Holder which authorizes the release of the earnest money. In the event a dispute arises between the parties to this contract as to which shall be entitled to said earnest money. the Holder may, in its sole discretion, interplead said earnest money into the proper court, and in so doing shall be entitled to deduct from the earnest money for court costs, attorney's fee, and other expcnses relating to the interpleader. The prevailing party in any interpleader action shah be entitled to collect from the other party the court costs. attorney's fees and other expenses of the interpleader which shall be paid to the prevailing party. In the event any Earnest Money check is not honored, for any reason, by the bank upon which it is drawn, Holder shall promptly notify Purchaser and Se ller. Purchaser shall have two (2) working days after notice to deliver good funds 10 Holder. In Ihe event Purchaser docs not timely deliver good funds within fwo (2) working days, Purchaser is in default and the Seller Illay cancel the contract by nolice to the Purchaser. In any proceedings under this paragraph, the right to trial by jury is waived. 12. ALTERNATIVE DISPUTE RESOLUTION AGREEMENT BY BINDING ARBITRATION: In connection with the purchase and sale of the above described property, except for those disputes described in Paragraph II Purchaser and Seller mutually covenant, stipulate and agree in connection with the resolution of any dispute or controversy arising out of or relating to this agreement or concerning the within described propeny, or the breach, termination. or va lidity thereof. as follows: That the transaction contemplated in this agreement directly involves interstate commerce. and said transaction has been and will continue to be regulated by the laws of the United States of America; and, that the contract(s) entered into by the parties concerning this property evidence transactions involving and affecting commerce. The undersigned agrees that all disputes not barred by applicable statutes of limitations or otherwise barred by law, resulting from or arising out of this agreement; that included herein in matters to be arbitrated are equitable claims and remedies, including specific performance and rescission; that Purchaser and Seller agree to submit such dispute(s) to BINDING ARBITRATION. pursuant to the provisions of 9 U.S.c. Section I, et seq and according to the Commercial Rules of the American Arbitration Association then existing in the County where the property being sold is located, and shall be decided by an arbitrator recognized by the Alabama Center for Dispute Resolution and pursuant to the rules of American Arbitration Association or, if agreed by both parties, some other recognized body and pursuant to the rules of American Arbitration Association. The prepaid arbitration filing fees and all other prepaid costs of the arbitration proceeding shall be paid by the party seeking to invoke arbitration, with the assignment of those costs to be divided between the parties as the arbitrator sees fit in setting the Arbitration Award. Damages may include reasonable attorney's fees. It is hereby agreed that it is the intent oftbe parties that the Arbitrator's Award is to be final and binding and judgment upon the award rendered by the arbitration may be entered in any coun having jurisdiction thereof. This alternative dispute resolution agreement shall specifically exclude Ihose disputes provided for in paragraph 11 and shall further specifically exclude those disputes as defined in para!.'taph 10(a); however. it is mutually agreed. covenanted. and stipulated that the right to a trial by jury is hereby waived. EXCEPT AS SPECIFICALLY PROVIDED HEREIN, THIS ARBITRATION SHALL BE IN LIEU OF ANY CIVIL LlTIGA non IN ANY COURT, AND IN LIEU OF ANY TRlAL BY JURY. 13. TERMINOLOGY: For the purposes of this contract, the term working day(s) used throughout this Agreemem shall be deemed to be weekdays (Monday-Friday) ending at II :59 p.m. local time (at the location of the Premises) unless otherwise specified in this Agreement. In the event a performance deadline occurs on a Saturday. Sunday or holiday, as defined herein. the performance deadline shall be extended to the next following working day. In calculating any time period under thi s Agreement, the commencement day shall be the day following the initial date (e.g. Binding Agreement Date). The following days shall be recognized as holidays: New Years Day, Memorial Day, Independence Day. Labor Day, Thanksgiving Day and Christmas Day. 14. ELECTRONIC SIGNATURES: Faxed or other electronically transmitted documents with signatures shall serve as originals and be binding on all parties. IS. ENTIRE AGREEMENT: This contract constirutes the entire agreement between Seller and Purchaser regarding the property and supersedes all prior discussions, negotiations and agreements between Seller and Purchaser whether oral or written. Neither Seller, Purchaser, Broker, nor any licensee, shall be bound by any understanding, agreement. promise. or representation concerning the property, expressed or implied. not specified herein. All temls, conditions. and warranties not perfornled at the time of delivery of deed shall survive such delivery. ADDITIONAL PROVISIONS: Land Sa les Contract Page 2 of3 (Revised ) THE USE OF THIS FORM BY ANY ONE OTHER THAN A REALTOR MEMBER IS STRICTLY PROHIBITED CopyrightO by Hutllsville Area Association of REAL TORS. Inc.

25 Additional Provisions, continued PURCHASER DATE WITNESS DATE PURCHASER DATE WITNESS DATE PURCHASER DATE WITNESS DATE Seller Hereby: (Initial ONE) ACCEPTS - this offer. **Do not initial here unless offer is being accepted! ** REJECTS - this offer and makes no counter offer. COUNTERS - separate Counter Offer form is attached. o Ves 0 No J. The Seller reserves the right to accept any other Offer prior to Purchaser's written acceptance of thi s Counter-Offer. Acceptance shall not be effective until personally received and acknowledged by (Listing Agent) as evidenced by signing the Binding Agreement Date below. 2. This Counter-Offer shall exp ire unless a signed copy of acceptance is delivered to the person(s) making this Counter Offer (or their agent) by o a.m. 0 p.m. on (date). 3. Upon acceptance by both parties, as herein specified, this Counter-Offer, if any, together with the offer of the Purchaser, and any addendum, shall compose the entire agreement between the parties hereto. SELLER DATE WITNESS DATE SELLER DATE WITNESS DATE SELLER DATE WITNESS DATE Binding Agreement Date: The listing agent confimls that the contract was finalized, accepted and delivered to all panies (and/or their representatives) either in writing or electronically and the binding agreement date to begin contract perfonnancc is: Date: by Binding Agreement Date Listing Agent Signature Listing Selling Company 10#,Company 10# Listing Salesperson ====== 10# Sale'pmon ====== 10# (PRINTED NAME) (PRINTED NAME) List ing Selling Selling Listing Ph one: Selling Phone: La nd Sa les Conlruct Page 3 00 (Revised ) THE USE OF THIS FORM BY ANY ONE OTHER THAN A REALTOR MEMBER IS STRICTLY PROHIBITED CopyrightO by Huntsvi lle Area Association of REAL TORS, tnc.

26 m REAlTO~EII IN- 0 INSPECTION ADDENDUM THIS ADDENDUM is attached to and forms a part of the Purchase Cont ract between: Purchaser(s} and,sellei{s) concerning the property commonly known as _ City County State Zip Purchaser(s) acknowledges that Purchaser(s} is not relying on any representation made by the Brokers or their licensees regarding the condition of the property. At hi s own expense, and w ithin working days of acceptance of this contract (Bindillg Agreemeltt Dale) by all parties, Purchaser may inspect the property for major defects and/or hazardous conditions either personall y, or through registered inspectors, licensed contractors, or other competent persons of Purchaser's choosing. Within 3 working days of completion of the inspection(s) Purchaser will provide Seller a Request for Repairs form stating those major defects andlor hazardous conditions which Purchaser requests Seller to correct, together with a complete copy of all inspection reports, at no expense to Se ller. Unless an extension is agreed to in writing, failure of the Purchaser to perform their inspection(s) and provide these documents 10 Seller within specified time limit will conclusively be deemed Purchaser' s acceptance of the property regardless of any defects andlor hazardous conditions. Upon recei pt of the Request for Repairs and the inspection report Seller wi ll have 3 working days to notify Purchaser. in writing, of those corrections Seller is wil ling to make. If Seller elects not to make all requested correcti ons, per the terms specified here in, Purchaser within 2 working days, wi ll have 3 options: (1) accept in writing Seller's decision as to repairs Seller is willing to make and proceed to closing with Purchaser making such repairs as Purchaser or Purchaser's lender req uires but which Seller is not making; (2) submit a new request for repairs which shall be treated in the same manner as the initial request for repairs; or (3) voi d this contract in writing without further claim except for the return of the earnest money advanced wi th thi s con tract and not otherwise spent. Unless previously agreed to in writing, failure of either party to respond within the allotted time will conclusively be deemed acceptance of the other party's proposal. Conditions which do not meet the definition below of a major defect or hazardous condition fall outside the scope of Ihis agreement and Seller'S refusal 10 correct those conditions docs not constitule grounds for termination of this contract. A major defect is a delect which threatens the structural integrity, or significantly shortens the li fe, or denies the intended use, of a substantial portion of the propeny. A haza rdous condition is one which threatens health or safety. Conditions which meet current governmental guidelines are noi considered hazardous; neither are conditions which met the local building codes in effect at the time of construction or mod ification unless such codes have been changed to require retroactive correction. Correcti ve action which brings a condition within governmental gu idel ines will be considered to have eliminated the condi tion. All conditions in Paragraph 4 (a) of the sales contract remain in fu ll force and effect. Any Written notice to a party's agent or transaction broker is deemed notice to that party. Notwi thstanding any o f the above, the closing of this sale wi ll constitute acknowledgment by the Purchaser(s) that the property was acceptable at the timc of closing unless otherwise agreed to in writing. In calculating any time period undcr this Agreement, the commencement day shall be the ne xt working day. In the event a perfonnance deadline occu rs on a Saturday, Sunday or holiday, as defined herein, the perfonnancc time period shall be extended to thc next working day. Time is of the essence regarding this Addendum. Dated thi s the day of WITNESS DATE PURCHASER DATE WITNESS DATE PURCHASER DATE WITNESS DATE PURCHASER DATE WITNESS DATE SELLER DATE WITNESS DATE SELLER DATE WITNESS DATE SELLER DATE Inspection Addendum Page 1 of 1 (Revised ) THE USE OF THIS FORM BY ANY ONE OTHER THAN A REALTOR MEMBER IS STRICTLY PROHIBITED Copyright by Huntsville Area Association of REAL TORS, Inc.

27 PROPERTY LOCATION: RESPONSE TO REQUEST FOR REPAIRS Page of SELLER(s): PURCHASER(s): Reference is made to that certain Contract for Sale of the real property referenced above, and to that certain Request for Repairs dated 3S submitted by the Purchasers. The Request for Repairs is Countered and the Parties agree as follows: By this mutual agreement, the inspection contingency in paragraph 4(d) of the Contract for Sale is hereby released, subject to completion of said repairs as agreed herein. Paragraph 4(a) of the Sales Contract remains in effect: "Seller agrees to deliver all built-in appliances, heating, cooling, electrical, gas, plumbing and septic systems in nomlal operating condition when title is passed or possession is given, whichever occurs first", IN WITNESS WHEREOF this Addendum is executed (Date): WITNESS DATE SELLER DATE WITNESS DATE SELLER DATE WITNESS DATE SELLER DATE WITNESS DATE PURCHASER DATE WITNESS DATE PURCHASER DATE WITNESS DATE PURCHASER DATE Response To Request For Repairs Page 1 of I (Revised ) THE USEOFTHIS FORM BY ANY ONE OTHER THAN A REALTOR MEMBER IS STRICTLY PROHIBITED CopyrightlO by Huntsvi lle Area Association of REAL TORS. Inc,

28 Committee Motion and Rationale Committee Name: Committee Chair: Finance & Budget Larry Carroll Will require presentation: Yes No Name of presenter: Larry Carroll Time needed for presentation: Motion: Rationale: To borrow $5,000 from the HAAR Regions Operating Account #0700 for the 2015 Strategic Planning Session. The funds will be repaid upon receipt of the grant monies. The Strategic Planning Session is tentatively scheduled for January 14-15, The facilitator will be Donna Garcia of NAR. To assist Associations with the expense of the Strategic Planning Session, NAR offers a $5,000 grant. However, the application can only be submitted once the Strategic Planning Session has been completed. Donna has been employed by the NATIONAL ASSOCIATION OF REALTORS for over 30 years. She spent the first half of her career in the Legal Affairs Department. Supporting the General Counsel, Donna was the staff Liaison to the Risk Reduction, Agency and Structural Audit Committees. She developed programs for NAR s Legal Liability Series on the topics of agency, misrepresentation and ways to reduce brokers liability. Since 2008, she has provided guidance to Association Executives on organizational structures, policies, employee relations, and Strategic Workforce Planning. She currently assists Associations and their leadership in understanding that in order for Strategic Planning to be truly successful, the process must encompass the members vision, accountability and sufficient association resources - financial and human - in order to carry the Associations vision to fruition. Name of person making motion: Bill Ward Date: