Resolution 01-EDA148 - Laserfiche WebLink

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. . U5/U~/U1 21:J~ rAX 612 784 J462 CY~ -+f -.f. .~ . (;11'):' UJ-' MV 14]004 9. DEF A UL T. If the title to the Premises be found marketable or be so made within 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 retained by Sener as liquidated damages, time being of the essence hereof. This provision shall not deprive either party of the right of enforcing the specific performance of this Agreement provided this Agreement shall not be tenllinated as aforesaid, and provided action to enforce such specific perfoIlIlance shall he commenced within six months after such right of action shall arise. 10. CLOSING DATE. The closing of the sale of the Property shall take place on or before, May 31, 2001, or at such earlier or later date as may be munlally 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 PTOperty exists on the date ofmis Purchase Agreement, reasonable wear and teaT' 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 between 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 warrants that Sellcr presently has the Property pTOperly insured against any risk of loss. If the Property is desLroyed 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 damage, during which 21-day period Buyer may inspect the real property, and in thc event of such rescission, the Earnest Money shall be refunded to Buyer. Ifsuch an event occurs, Buyer and Seller agree to sign a Cancellation of Purchase Agreement within a reasonable time after such event takes place. 13. CONDITION OF PROPERTY. Seller warrants that all fixtures, heating and air conditioning equipment, wiring, and plumbi.n and located on the property are in working order on the daLe of closing. Sel AS ~ had a wet basement or water in the basement. Seller discloses that the roo HA NOT leaked. Sellcr shall remove all deblis and all personal property not included in this sale from the Property before possession date. Seller has not received any nOLice from any governmental authority as to the existence of any dutch elm disease, oak wilt, or other disease of any trees on the Property. Seller's warranties and representations 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 Lo 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 Agreement, the property is being sold "AS IS" with no express or implied representations or warranties by Seller as to physical conditions, quality of constrUCtion, workmanship, or ..j- 2- tC ~?{~t'i ~ ~ (j}{I-C 2000, rJ2~ ,4 r/!u 7~~v- ~-~ ,~LL-- ~~~,