BACK UP OFFER ADDENDUM
This Contract, known as a "Back Contract" is contingent upon the termination of all contractual rights and/or obligations specified in the Contract to Purchase dated ___________________ (Date) referred to as "Prior Contract", for the purchase and sale of the property in the Contract to Purchase. This Contract shall become binding upon the parties when the "Prior Contract" is legally terminated and is null and void and without force.
This "Back Contract" becomes null and void with the closing of the "Prior Contract", with no liability to the Seller or Buyer and with earnest money returned to the Buyer.
Nothing herein shall prevent the Seller from extending the time of closing of the "Prior Contract", but not to exceed 15 (fifteen) days.
The Buyer shall have the right, in his sole discretion, to revoke this "Back Contract" at any time before the "Prior Contract" is either fulfilled or terminated.