07/23/2007 Council Packet (2) - Laserfiche WebLink

Home Search

• • • then, and in any such event, Purchaser shall have the right to terminate this Agreement by written notice to Seller given on or before the date ten (10) days after the end of the applicable contingency period (as it may have been extended), and on such termination all payments received by Seller pursuant to this Agreement together with accrued interest shall be paid by Seller to Purchaser; provided, however, if termination occurs after such date, all of the initial Earnest Money Deposit shall be retained by Seller (subject to the provisions of Paragraphs 5, 13, and 24 hereof). 11. Brokerage Fees. Purchaser and Seller each represent and warrant to the other that they have not incurred any obligation or liability, contingent or otherwise, for brokerage or finder's fee or agent's commissions or other like payment in connection with this Agreement or the transaction contemplated hereby, and Purchaser and Seller each agree to indemnify, defend and bold the other harmless against and in respect of any such obligation and liability based in any way upon any other agreements, arrangements or understandings made or claimed to have been made by the indemnifying parry with any third person. 12. Costs. The costs to be incurred in closing the transaction contemplated by this Agreement shall be allocated to Seller and Purchaser in the event of Closing in the following manner: (a) Seller shall pay for any transfer, excise or deed tax to be incurred in connection with the conveyance or in recording the Warranty Deed to be delivered by Seller on the Date of Closing. (b) Purchaser shall pay for the recording fees incurred in recording the Warranty Deed to be delivered by Seller to Purchaser on the Date of Closing. (c) Seller shall pay all real estate taxes (including installments [including interest accrued as of Closing] of special assessments certified for payment therewith) payable in respect to the Subject Property in the calendar year prior to the calendar year in which Closing occurs and prior years. Further,