If a buyer is exercising the unrestricted right to terminate the contract under Paragraph 23, which contract are they using?

When a buyer exercises the unrestricted right to terminate the contract under Paragraph 23, they are using the Notice of Buyer's Termination Contract. This option serves a specific purpose within the real estate transaction framework by allowing the buyer to formally communicate their intention to terminate the contract without needing to provide a specific reason. The Notice of Buyer's Termination Contract effectively ends the agreement and facilitates a smooth withdrawal from the purchase process.

The other options do not specifically fulfill this function. The Standard Purchase Agreement is the initial contract that outlines the terms of purchase but doesn't facilitate termination. The Termination Agreement typically relates to the mutual agreement to end a contract, which is not the case when a buyer is exercising an unrestricted termination option. The Short Sale Addendum applies to transactions involving short sales and is not relevant to the termination of a standard purchase contract. Therefore, the Notice of Buyer's Termination Contract is the correct choice as it specifically addresses the scenario of a buyer's termination rights under Paragraph 23.