buyer shall act diligently and in good faith to obtain the designated loans. seller financing: for any seller financing designated above, buyer is to execute a note secured by a deed of trust in favor of seller in the terms and conditions set forth in the attached addendum (c.a.r. security deposits: security deposits, if any, to the extent they have not been applied by seller in accordance with any rental agreement and current law, shall be transferred to buyer at close of escrow.

often, it is also more likely the buyer can get the deposit refunded if a car form is used. the car form at paragraph 18 provides: “any removal of contingencies or cancellation under this paragraph by either buyer or seller must be exercised in good faith and in writing.” the air agreement basis the closing date to the buyer’s removal of contingencies. the air agreement liquidated damages clause differs from car and only applies to the deposit.