12-20-2006 Additions - Laserfiche WebLink

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SELLER SHALL PAY ON THE DATE OF CLOSING all installments of special assessments certified for payment with the real estate taxes due and payable in the year of closing. SELLER SHALL PAY ON THE DATE OF CLOSING all other outstanding special assessments levied as of the date of this Agreement. BUYER SHALL ASSUME any pending or future special assessments as of the date of this Agreement. SELLER SHALL PAY ON THE DATE OF CLOSING any deferred real estate taxes or special assessments, payment of which is required as a result of the closing of this sale. 8. Damages to Real Property. In the event the property is destroyed, substantially damaged or any part thereof shall be taken by eminent domain, this Agreement shall become null and void, at Buyer's option, and all monies paid hereunder shall be refunded to Buyer. Should Buyer elect to proceed and close the transaction contemplated hereby, there shall be no reduction in or abatement of the purchase price, but Seller shall assign to Buyer Seller's rights, title and interests in and to all insurance proceeds or award resulting from such destruction or taking. 9. Seller's Boundary Line Access Restrictions, and Lien Warranties. Seller warrants that there is a right of access to the real property from a public right -of -way. Seller warrants that there has been no labor or material furnished to the property for which payment has not been made. Seller warrants that there are no present violations of any restrictions relating to the use or improvement of the property. These warranties shall survive the delivery of the warranty deed. 10. Condition of Property. a. Seller warrants that no hazardous substances or petroleum products have been placed, stored, or released from or on the property by any person in violation of any law, nor of any underground storage tanks having been located on the property at any time, except as follows: None b. Seller's warranties and representations contained herein shall survive the closing and the delivery of the warranty deed. c. Buyer shall have the right to have inspections of the property conducted prior to closing. 11. Disclosure of Notices. Seller has not received any notice from any governmental authority as to violation of any law, ordinance or regulation affecting the property. If the property is subject to restrictive covenants, Seller has not received any notice from any person as to a breach of the covenants. 12. Possession. Possession of the property shall be granted by Seller to Buyer on the date of closing. -2-