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Purchase Price to Seller and the following closing documents shall be executed and <br />delivered: <br />a. A general warranty deed conveying to Buyer fee simple title of the Property, free <br />and clear of all encumbrances, except the following "Permitted Encumbrances": <br />(1) Property taxes and special assessments to be allocated between the parties <br />as provided in Section 4 of this Agreement; <br />(1) Building codes and laws and ordinances relating to zoning, land use, and <br />environmental matters; and <br />(1) Easements and Restrictions and Covenants of Record that do not interfere <br />with Buyer's intended use of the Property. <br />b. A closing statement detailing the financial terms of the closing. <br />c. All other documents necessary to transfer the Property to Buyer free and clear of <br />all encumbrances except the Permitted Encumbrances. <br />3. Extension of Closing Date. Buyer can extend the Closing Date two (2) times for sixty <br />(60) days per extension with written notice to Seller. <br />4. Costs. Seller and Buyer agree to the following allocations of costs: <br />a. Closing Costs. Buyer shall pay all costs of closing associated with this <br />transaction, including but not limited to all costs of issuing the title insurance <br />commitment, title insurance premiums and surcharges required for the issuance of <br />any owner's title insurance policy, the closing fees charged by the Title Insurer, <br />and recording fees. <br />b. Documentary Taxes. Buyer shall pay all state deed tax for the warranty deed to <br />be delivered by Seller under this Agreement. <br />c. Real Estate Taxes and Levied and Pending Assessments. General real estate <br />taxes due in the year of closing shall be prorated by Seller and Buyer as of the <br />Closing Date based upon a calendar fiscal year. Buyer shall be responsible for <br />any green acre restoration charges due on the property. Seller shall be responsible <br />for all charges or special assessments levied or pending against the Land as of the <br />date of this Agreement. <br />d. Attorney's Fees. Each party will pay its own attorney's fees. <br />5. Title. <br />