Resolution 00-EDA134 - Laserfiche WebLink

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. . . said time, and Buyer shall default in any of the covenants contained in this Agreement and continue into default for a period of ten (10) days, then and in that case, Seller may terminate this Agreement and on such termination all the payments made under this Agreement shall be retaincd by Seller as liquidated damages, time being of the essencc hereof. This provision shall not deprive either party of the right of enforcing the specific perfOlmance of this Agreement provided this Agreement shall not be terminated as aforesaid, and provided action to enforce such specific perfonnance shall be commenced within six months after such right of action shall mise. 10. CLOSING DATE. The closing of the sale of the Property shall take place on or before, October 31, 2000, or at such earlier or later date as may be mutually agreed upon by the Seller and Buyer. 11. POSSESSION. The Seller shall deliver possession of the Property to Buyer at 11 :59 a.m. on the date of closing, in substantially the same condition as the Property exists on the date of this Purchase Agreement, reasonable wear and tear excepted. 12. DAMAGES TO REAL PROPERTY. As Seller is presently in possession of the Property, if there is any loss or damage to the Property bctween the date hereof and the date of closing, for any reason including fire, vandalism, flood, earthquake or act of God, the risk of loss shall be on Seller. Seller walTants that Seller presently has the Property properly insured against any risk of loss. If the Property is destroycd or substantially damaged prior to closing, or if the Property is damaged materially but less than substantially prior to closing, Buyer may rescind this Purchase Agreement by notice to Seller within twenty-one (21) days after Seller notifies Buyer of such dan1age, during which 21-day period Buyer may inspect the real propeliy, and in the event of such rescission, the Earnest Money shall be refunded to Buyer. If such an event occurs, Buyer and Seller agree to sign a Cancellation of Purehase Agreement within a reasonable time after such event takes place. 13. CONDITION OF PROPERTY. Seller walTants that all appliances, fixtures, heating and air conditioning equipment, wiring, and plumbing uscd and located on the property are in working order on the date of closing. Seller HAS had a wet basement or water in the basement. Seller discloscs that the roof HAS leaked. Seller shall removc all debris and all personal property not included in this sale from the Propeliy beforc 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 Propeliy. Seller's warranties and reprcsentations contained in this paragraph 13 shall survive the closing of this transaction. Buyer shall have the right to have inspections of the Property conducted prior to Closing. Unless required by local ordinance or lending regulations, Seller does not plan to have the Property inspected. Other than the representations made in this Purchase Agrcement, the propelty is being sold "AS IS" with no cxpress or implied representations or warranties by Seller as to physical conditions, quality of constmction, workmanship, or fitness for any patticular purpose. (This paragraph is not intended to waive or modify any