Termination of Prior Contract

This contract is subject to and conditional on the contract for the sale of (insert street address of property) between (insert name) as Seller and (insert name) as Buyer (hereinafter referred to as “the prior contract”) being terminated by 5.00 pm on (insert date). In the event that the prior contract is not so terminated then the Seller must notify the Buyer in writing and this contract shall be at an end and the Deposit shall be refunded forthwith to the Buyer.