HUD 9548-G Addendum to Sales Contract

Property Disposition Program 203(k) Rehabilitation Financing Lead Agreement		U.S. Department of Housing and Urban Development Office of Housing Federal Housing Commissioner		OMB Approval No. xxxx-xxxx (Expires xx/xx/xxxx)
Public reporting burden for this collection of information is estimated to average 12 minutes per response, including the time for reviewing instructions, searching existing data sources, gathering and maintaining the data needed, and completing and reviewing the collection of information. This information is required to obtain benefits. HUD may not collect this information, and you are not required to complete this form, unless it displays a currently valid OMB control number. This information is required in order to administer the HUD Lead Safe Housing Rule (24 CFR Part 35). The information is required in order to determine and document eligibility to participate in the 203(k) sales program. If this information were not collected, HUD would not be able to administer the			Property Disposition Sales Program properly to avoid waste, mismanagement, and abuse. The information will be retained by the Department as part of the transaction record for a property disposition action. Failure to provide this information could affect your participation in the HUD Homes program. Warning: Falsifying information on this or any other form of the Department is a felony. It is punishable by a fine not to exceed $250,000 and/or a prison sentence of not more than two years. Failure to adhere to the residency and resale requirements may result in administrative sanctions being taken against the purchaser.
ADDENDUM TO SALES CONTRACT: 203(k) Rehabilitation Financing Lead Agreement
Property Address:
FHA Case Number:

This agreement is an addendum to and incorporated in the contract for the purchase of the above referenced property by (Purchaser’s name) _______________________________ executed on ______________, 20___ (date). Prior to closing of the sale transaction, this agreement must be executed by the Selling Broker, the Purchaser and the Lender listed below and a copy delivered to the Seller’s designated closing agent.

The purchaser intends to finance this transaction with an FHA 203(k) rehabilitation loan provided by

______________________________________________________________________________________ (Lender) doing business at ____________________________________________________________________________________________ (Lender's address).

By signing below, the Lender and Purchaser agree to incorporate a paint stabilization plan including lead clearance, into the 203(k) work plan, in accordance with HUD's Lead Safe Housing Rule (24 CFR 35). The plan will be based on a visual assessment, lead-based paint inspection, and/or risk assessment of the subject property. Lender and Purchaser agree that the interior work and clearance will be completed prior to the Purchaser’s occupancy. Lender and Purchaser also agree that the exterior work and clearance will be completed prior to occupancy unless significant adverse weather conditions exist (e.g., winter cold weather prevents proper paint application), in which case occupancy will not be barred, but exterior work must be completed as soon as possible (in accordance with local practices, which may include temporarily enclosing the work area to permit work in any weather conditions, or waiting for a thaw to do work).

Upon the completion of the required lead work and clearance, the undersigned Lender agrees to provide the attached Addendum to Sales Contract: Completion of 203(k) Rehabilitation Financing Lead-Based Paint Stabilization and Clearance to the HUD Home Ownership Center indicated on the notice.

_______________________________________________________________________________ ___________________

Signature of Lender Date

_______________________________________________________________________________ ___________________

Signature of Purchaser Date

_______________________________________________________________________________ ___________________

Signature of Selling Broker Date

form HUD-9548-G

(12/20/2005)