1.1 This Contract is subject to and conditional on the Contract for the sale of [INSERT STREET ADDRESS OF PROPERTY] dated [INSERT PRIOR CONTRACT DATE] (hereinafter referred to as the Prior Contract) being terminated by 5:00pm on [INSERT DATE]. In the event that the Prior Contract is not terminated by 5:00pm on [INSERT DATE] then the Seller must notify the Buyer in writing and this Contract shall be at an end and the Deposit shall be refunded without deduction to the Buyer.