10-27-2004 Council Agenda - Laserfiche WebLink

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(f) Funds to pay, or evidence of payment of all taxes and assessments to be paid by the Seller pursuant to Section 6 above; (g) Funds, in cash or some other form acceptable to the Seller, sufficient to satisfy the Buyer's obligations pursuant to Section 2 above. 8. Brokerage Fees. Each party hereto warrants that it has not incurred any real estate brokerage fees, finders' fees, loan brokerage fees, or any other fees to any third party in connection with this purchase and sale other than those listed below. In the event that any third party other than those listed below institutes legal action in an effort to recover such fees the parties shall jointly defend such action. If ajudgment is obtained against the parties jointly, the party responsible for the breach of this warranty shall reimburse the other for the latter's attorneys' fees, court costs, expenses, and share of the judgment. 9. Entire Agreement. This Agreement contains the entire understanding of the parties hereto with respect to the purchase of the subject property by the Buyer and supersedes all prior agreements and understandings between the parties with respect to such purchase. The terms of this Agreement shall merge into the Deed as of the date of closing. 10. Reasonable Consent. Whenever the Buyer's or the Seller's consent shall be required herein, such approval or consent shall not be arbitrarily or unreasonably conditioned, delayed, or withheld and shall be deemed to have been given unless within five (5) days of the request, the Buyer or the Seller, as appropriate, notifies the requesting party that the Buyer or the Seller, as appropriate, is denying such approval or consent, stating in the notice the reasonable grounds therefor. 11. Binding Effect. This Agreement shall be binding on and inure to the benefit of the parties hereto and the assigns, executors, heirs, and successors of the parties. 12. Seller's Warranties and Representations. (a) Seller warrants that buildings on adjoining real property, if any, are entirely outside of the boundary lines of the property. 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. (b) Seller shall remove all debris and all personal property not included in this sale from the property before possession date. Seller has not received any notice from any governmental authority as to the existence of any Dutch elm disease, oak wilt, or other disease of any trees on the property. (c) Seller knows of no hazardous substances or petroleum products having been placed, 4 6