Resolution 00-EDA134 - Laserfiche WebLink

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. . . following the year of closing and thereafter. The Seller makes no warranties as to the real estate homestead tax classification status of property in the year following the year of closing. Seller shall pay at or prior to closing the balance of all special assessments due and payable and levied as of the date of closing. Seller shall also pay all special assessments pending as of the date of this Purchase Agreement, if any. If the amount of the special assessments is not finally deternlined by the Closing Date, Seller agrees to escrow an amolmt equal to one and one-halftimes the estimated amount, which shall be used to pay the special assessments when levied. Buyer shall assume special assessments that become pending after the date of this Purchase Agreement, except that Seller shall at all times be responsible to pay special assessments, if any, for delinquent sewer or water bills, removal of diseased trees, snow removal, or other current services provided to the Property by the assessing authority while the Seller is in possession of the Property. C. Recording Costs. Seller shall pay the costs of rccording all documents necessary to placc record title in the condition warranted, and the Buyer shall pay the cost ofrecording all other documents. 8. MARKETABILITY OF TITLE; COSTS TO CLEAR TITLE. Seller shall, within a reasonable time after signing this Agreement and at the expense of Seller, furnish an abstract of title or registered property abstract certified to date to include proper searches covering bankruptcies, all judgments, taxes, special assessments and liens. Buyer shall be allowed fOUlieen (14) days after receipt thereof for examination of said title and the making of any objections thereto, said objections to be made in writing or deemed to be waived. If any objections are so made, Seller shall be allowed sixty (60) days to make such title marketable. Seller shall permit no additional encllmbranees to be made upon the Property between the date of this Purchase Agreement and the Closing Date. If said title is not marketable and is not made so within sixty (60) days from the date of written objections thereto as above provided, this Agreement shall be null and void, at option of Buyer, and neither party shall be liable for damages hereunder to the other party. All money theretoforc paid by Buyer shall be refunded. Alternatively, if Buyer elects to proceed with this transaction, Seller shall bear any and all costs to clear title to the Property, including the cost of satisfying any mortgagcs or liens of record, if any. In the event Seller fails to clear title to the extent herein rcquired, Buyer may clear title to the extent required and charge the cost of clearing title to the Seller, including attorney's fees, court costs, condemnation awards, anlounts paid for releases, waivers or quit claims and all other costs actually incurred by Buyer, unless waived by Buyer. In the event that title to the Property camlot be made marketable by the Seller by the Closing Date, then, at the option of the Buyer, this Purchase Agreement shall be null and void and all money theretofore paid by Buyer shall be refunded to the Buyer. 9. DEFAULT. If the title to the Premises be found marketable or be so madc within