7.06 Cooperation Clause Addendum
Addendum/Amendment to Purchase and Sale Agreement
The following is part of the Purchase and Sale agreement dated _____________, between _________________________________ (Seller) and _______________________________ (Buyer).
IT IS AGREED BETWEEN THE SELLER AND BUYER AS FOLLOWS:
This contract will be assigned to The Texas 1031 Exchange Company, as the Qualified Intermediary, solely for the purpose of completing the exchange. The purchaser will be notified in writing when the assignment is made. Title however will be conveyed directly from the Seller/Exchangor to the Buyer as authorized by Revenue Ruling 90-34.
A material part of the consideration to the seller for selling is that the seller has the option to qualify this transaction as part of a tax deferred exchange under Section 1031 of the Internal Revenue Code. Buyer agrees to cooperate in the exchange provided buyer incurs no additional liability or expense.
__________________________ ____________________________ Seller/Exchangor Buyer __________________________ ____________________________ Seller/Exchangor Buyer _______________________ _________________________ Date Date