06-10-2015 Additions - Laserfiche WebLink

Home Browse Search

If any such contingency has not been satisfied on or before the Closing Date, then this Agreement may be terminated, at Buyer's option, by written notice from Buyer to Seller. Such notice of termination may be given at any time on orbefore the Closing Date. Upon such termination, neither party will have any further rights or obligations regarding this Agreement or the Property, all Earnest Money will be returned to Buyer, and the parties shall execute a written cancellation of this Agreement. All of the contingencies set forth in this Agreement are specifically stated and agreed to be for the sole and exclusive benefit of the Buyer and the Buyer shall have the right to unilaterally waive any contingency by written notice to Seller. 4. Closing. The closing of the purchase and sale contemplated by this Agreement (the "Closing") shall occur within on or before June 30, 2015 (the "Closing Date"). The closing shall take place at the office of the Company that provides the Title Commitment, or at such other place as may be agreed to. Seller agrees to deliver possession of the Property to Buyer at closing. Seller shall keep property insured during this period and shall assume all liability from the continued use of the property until possession is granted to the Buyer. Seller shall name the Buyer as Loss Payee for the period from the date of Closing until the date of Possession. The period during which the Seller remains in occupancy of the Property until Buyer gains possession shall be considered ownership from the Seller's perspective pursuant to the mutual indemnification terms delineated in Provision # 12. If closing does not occur on or before June 30, 2015 through no fault of Buyer, Seller shall reduce sale price by an additional $1,500 to offset Buyer's expense associated with the lost opportunity to claim tax exempt status for taxes payable in 2016. (a) Seller's Closing Documents. On the Closing Date, Seller shall execute and/or deliver to Buyer the following (collectively "Seller's Closing Documents"): (1) Deed. A Limited Warranty Deed, in form reasonably satisfactory to Buyer, conveying the Real Property to Buyer, free and clear of all encumbrances, except the Permitted Encumbrances hereafter defined. (2) Title Policy. The Title Policy, or a suitably marked up Commitment for Title Insurance initialed by the Title Company, in the form required by this Agreement. (3) Seller's Affidavit, An Affidavit of Title by Seller indicating that on the Closing Date there are no outstanding, unsatisfied judgments, tax liens or bankruptcies against or involving Seller or the Real Property; that there has been no skill, labor or material furnished to the Real Property for which payment has not been made or for which mechanics' liens could be filed; and that there are no other unrecorded interests in the Real Property, together with whatever standard owner's affidavit and/or indemnity which may be required by the Title Company to issue an Owner's Policy of Title Insurance with the standard exceptions waived.