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The document is an Additional Clause Addendum for a real estate contract between a Seller and Buyer, approved by the Arizona Association of Realtors. It outlines additional terms and conditions including a backup contract contingent upon the cancellation of a prior contract, corporate relocation approval, non-refundable earnest money, waiver of appraisal, survey requirements, tax-deferred exchange provisions, and water rights considerations in Arizona. The addendum requires initials from both parties to acknowledge acceptance of these terms.

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What is an addendum agreement?

Addendums are attachments to original contracts that alter the original terms and conditions of the contract. Addendums can be used to alter standard contracts, make adjustments if situations have changed since the original contract was signed, or if the original signers come to a different arrangement.

What is an additional clause addendum?

An addendum is an addition to a document, often used in contracts. It modifies the original agreement without rewriting it from scratch. Its legally binding once signed and helps clarify or change terms. Common types include real estate, lease, insurance, law school applications, and GAP insurance addendums.

What are the additional clauses in an agreement?

Additional provisions are supplementary clauses included in a contract to address specific needs or conditions that are not covered by standard terms. These clauses provide flexibility and customization, allowing parties to tailor the agreement to their unique circumstances and requirements.

What is the meaning of additional addendum?

When you make an addendum to a document, you are adding text to the end. Addenda tend to be serious business as theyre added to contracts, reports, and studies. There is nothing dumb about an addendum; often an addendum makes a document smarter by adding more information.

What is the addendum agreement and additional clauses?

An addendum should be used when there is a need to change the terms of a tenancy agreement. It can be used to add new clauses to the agreement, or to modify existing ones. It can also be used to clarify ambiguous or confusing language in the original agreement.

What is the addendum to add a clause?

What Is an Addendum? Clarifying or restating contract terms: If certain clauses are unclear or ambiguous. Introducing new terms or conditions: Adding new provisions that were not part of the initial agreement. Reflecting changes in circumstances: Adjusting delivery dates, payment terms, or project specifications.

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