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This agreement facilitates the correction or replacement of closing documents in a real estate transaction between Seller(s) and Buyer(s).
Seller(s) and Buyer(s) are obligated to correct any errors or inaccuracies in closing documents, regardless of the reason for such discrepancies.
'Closing Documents' include various legal documents such as deeds, promissory notes, and contracts that are executed during the closing process.
If a promissory note is replaced, the Seller(s)/Lender indemnifies the Buyer(s) against any losses related to demands on the original note.
Replacement documents must be delivered within thirty (30) days after a written request for corrective action is received by either party.
Failure to execute or deliver replacement documents within thirty (30) days may result in liability for losses incurred by the other party, including attorney's fees.
The terms of this agreement will survive the closing and remain binding on all parties involved, including their successors and assigns.
