Short Sale Contract Help

[James Vermillion]

All,

I am currently working on a short sale and things are moving along. The seller is currently compiling all the neccessary paperwork, filling out the authorization to release information, and completing the financial worksheet. I am preparing the contract, as I am hoping to have it signed by the end of the week. I am using the standard KY purchasing contract which is approved by the Kentucky Real Estat Commission, but in doing so came across some questions.
1) Section 1 deals with purchase price....what do I do with this section, as the price is going to be negotiated w/ the lender, US Bank.
2) Other details: Do you typically remove things such as termite inspection from the sellers responsibilities?
3) In the closing section do you use a timeframe, or do you use a standard statement that there is no timeframe.
4) What about the earnest money? Does it not apply?

Thanks in advance. I already owe a lot to this site and its members!

James