Resolution 01-EDA148 - Laserfiche WebLink

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. . . U:>/UII/Ul ll:J~ tAX 6U 7/!4 J462 ~UUJ (;!"!'}: Ut II1V taxes prorated to Seller. Buyer shall pay the real estate taxes due and payable in the year following the year of closing and thereafter. '111e 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 determined by the Closing Date, Seller agrees to escrow an amount 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 pTovided 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 recording all doclffilents necessary to place record title in the condition warranted. and the Buyer shall pay the cost of recording 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 oftide or registered property abstract certified to date to includc proper searches covering bankruptcies, all judgments, taxes, special assessments and liens. Buyer shall bc allowed fourteen (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 encumbrances 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 bc null and void; at option of Buyer, and neither party shall be liable for damages hereunder to the other party. All money theretofore 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 mortgages or liens of record, if any. Tn the event Seller fails 10 clear title to the extent herein required, Buyer may clear title to the cxtent required and charge the cost of clearing title to the Seller, including attorney's fees, court costs, condemnation awards, amounts paid fOT 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 cannot 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 sball be refunded to the Buyer.