Addendum Regarding Mold

Be aware of mold presence in your property and disclose necessary details to buyer

Presence of mold or any other fungi in a particular piece of property that is soon to be rented out or sold is necessary to be made aware of to the buyer so that there is complete disclosure regarding whether the property is mold free or there is no mold activity that the seller is aware of. The Addendum Regarding Mold is one very crucial application form that needs to be understood both by the seller and the buyer so that in future there are no problems regarding this issue.

What the addendum provides

The Addendum Regarding Mold is like an approval and legal verification made by the seller on the mold presence whether it is there, not there or has been decontaminated before. This form will make the buyer or the tenant responsible to take care of any future mold activity that might take place during the period of stay. Availability of such forms can be benefitted from online platforms providing these services. However it is necessary to get hold of the authentic website and form so that terms and conditions are in conformity with the state laws.

The need to be aware and save time

Such forms even though can be prepared by the lawyers and notaries, requires the knowledge of the situation to be disclosed to both the parties, hence it is always suitable if you get to see a firsthand preview of all the terms provided. This makes it easier for the seller to be informed about all the present issues that need to be disclosed to the seller. So if you are in such a situation and want to save time from going to the lawyer, then online prepared forms are the best shot.

Addendum Regarding Mold

Addendum Regarding Mold

Addendum Regarding Mold

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ADDENDUM REGARDING MOLD
For Use in the Lease or Sale of any Residential Property

EFFECTIVE as of January 1, 2003

_______________________________________________________________________________

Concerning the Property at:

MOLD WARNING STATEMENT:  Every Tenant or Buyer of any interest in residential real property on which a residential dwelling was/is built is notified that such property may present exposure to mold.  The presence of mold may constitute a health hazard, particularly to those with mold allergies.  There are currently no federal or state mandated standards for acceptable levels of mold.  The Landlord/Seller of any interest in residential real property is required to provide the Tenant/Buyer with any information on the presence of mold from risk assessments or inspections in the Landlord/Seller’s possession and notify the Tenant/Buyer of any known mold presence. A risk assessment or inspection for possible mold is recommended prior to purchase or occupancy.

A.    LANDLORD/SELLER DISCLOSURE:
Presence of Contamination by Mold or other fungi:  [Check (a), (b), or (c)]

[   ]    (a) LANDLORD/SELLER HAS NO KNOWLEDGE OF MOLD OR OTHER FUNGI HAZARDS IN THE PROPERTY.  (This is not a representation that the Property is free of Mold or other fungi, but is only a statement of Landlord/Seller’s knowledge).

[   ]    (b)  THIS PROPERTY HAS THE PRESENCE OF MOLD OR OTHER FUNGI  HAZARDS:  Landlord/Seller has been made aware by written professional analysis of Mold or other fungi hazards in the Property.

[   ]    (c)  THIS PROPERTY HAS BEEN REMEDIATED OF MOLD AND/OR MOLD HAZARDS:  Seller has reports pertaining to mold or other fungi hazards in the Property.  Seller has an air clearance report.

Records and reports available to Landlord:  [Check (a) or (b)]

[   ]    (a)  Landlord/Seller has no reports or records pertaining to Mold or other fungi hazards in the Property.

[   ]    (b)  Landlord/Seller has provided Tenant/Buyer with all available records and reports pertaining to Mold and other fungi hazards in the Property.

B.    TENANT/BUYER’S RIGHTS:    [Please Check (a) or (b)]

[   ]    (a) Buyer waives the opportunity to conduct a risk assessment or inspection of the Property for the presence of mold or other fungi hazards.

[   ]    (b)  Within ten (10) days after the effective date of this agreement, Tenant/Buyer may have the Property inspected for the presence of mold or other fungi.  If mold is present, Tenant/Buyer may terminate this contractual agreement by giving Landlord/Seller written notice within 14 days after the effective date of this agreement.  If Tenant/Buyer

Addendum Regarding Mold Concerning  ____________________________________________________________________

occupies the Property prior to giving Landlord/Seller written notice or if written notice is not received within 14 days of the effective date, Tenant/Buyer waives the opportunity to conduct a risk assessment or inspection and is occupying the Property at their own risk.

C.    TENANT/BUYER’S ACKNOWLEDGEMENT:  [Tenant/Buyer to initial and sign]

Tenant/Buyer is hereby notified that notwithstanding any other provision of the Residential Lease Agreement, One to Four Family Residential Contract (Resale), or any other documents or agreements related with this real estate transaction, there is no coverage for the following:  any loss or damage involving in any way the actual or potential presence of mold, mildew, or fungi of any kind whatsoever, even if directly or indirectly caused by or resulting from an insured peril.  This includes any bodily injury, property damage, or medical claim of any kind directly or indirectly relating to the actual, potential, alleged, or threatened presence of mold, mildew, or fungi of any kind whatsoever.  We will not pay for any loss, cost or expense that you may incur in testing for, monitoring removing, treating, or in any way responding to the actual, potential, alleged or threatened presence of mold, mildew or fungi of any kind whatsoever.

TENANT/BUYER HEREBY RELEASES AND FOREVER DISCHARGES LANDLORD/SELLER, THEIR PRINCIPALS, AGENTS AND REPRESENTATIVES FROM ANY AND ALL RIGHTS, CLAIMS, DEMANDS AND DAMAGES OF ANY KIND, KNOWN OR UNKNOWN, EXISTING OR ARISING IN THE FUTURE, RESULTING FROM OR RELATED TO BODILY INJURY OR PROPERTY DAMAGE ARISING FROM MOLD, MILDEW OR OTHER FUNGI.     Tenant/Buyer Initials ________    ________

“Mold or other fungi” means:
any type or form of mold or mildew;
any other type or form of fungus; or
any mycotoxin, spore, scent, or byproduct produced or released by such mold, mildew, or other fungus.

I/We have read this Addendum and this Release and understand it.

______________________________________        _____________________________________
Tenant/Buyer                 Date                                   Tenant/Buyer                Date

D.    CERTIFICATION OF ACCURACY:

The following parties have reviewed the information above and certify, to the best of  their knowledge, that the information they have provided is true and accurate.

__________________________________________    ______________
Landlord/Seller:                                                                   Date

__________________________________________    _____________________________________
Listing Broker/Agent             Date                                  Other Broker/Agent            Date