Cash or HML Language for Offer

[Derek T.]

I have a question about my state's contract language. I am making a cash offer and providing POFs (my bank statement) however I am not sure if I will use cash as I have another short sale under contract that I am awaiting approval on. My question is, my state includes this language in their contract:

"11. ALTERNATE FINANCING: Provided Buyer timely and diligently pursues the financing described in Paragraph 9 “Financing”; Paragraph 10 “Financing Application and Commitment”; and the provisions of Paragraph 28 “Buyer
Responsibility”, Buyer, at Buyer’s election, may also apply for alternate financing. If Buyer, at Buyers sole option, obtains a written commitment for financing in which the loan amount, term of note, amortization period, interest rate, down payment or loan program differ from the financing as described in Paragraph 9, or any addendum to this Contract, the provision of Paragraph 10 or any addendum to this Contract shall be deemed to have been fully satisfied. Such alternate financing may not increase costs to Seller or exceed the time allowed to secure the financing commitment as provided in Paragraph 10, or any addendum to this Contract."

So do I need to add a clause that the buyer has the option to find private financing as well in my contract. Also if so where should I add the clause? A link to my state's contract is down below. Thanks.

http://www.southernmarylandrealtors.org/FileDownloads/
Real%20Estate%20Contracts%20and%20Forms/200810_Residential_
Contract_Of_Sale.pdf