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When Mark was negotiating the purchase of the rental
property nashik with the seller, he got the seller to agree to substitute
other collateral as security for the financing. There was no
reference to a substitution of collateral on the earnest money
form, so Mark wrote in the following:
"Buyer has the right to substitute collateral of equal or
greater value on the trust deed executed in favor of the
seller at any time, with the seller having the right of
approval, such approval not being unreasonably
withheld."
In this way, by adding a "rider" to the earnest money
agreement, Mark provided for the eventual substitution of
collateral.
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