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APR 19 '96 14�17 KENNEDY & GRA�IEN <br />P.9 <br />: maintain during the pendency o� thi� Agreement casual�y znsurance <br />in an amoun� not less than the Purchase Price or �he fu1� <br />��placement value of the Property, whichEVer is lessa <br />1�-, �rorations. 5e11er shall �e en��tled to all rents �� <br />�,,. , <br />�i�t,��,,����;a� �: �?or the pe��.od of time prio� to Closi,ng Delinquent <br />reri�� ��;; ��<<<xi�� ���� due Seller as of Clo�ing, i� and when collected <br />by B�x���Y°'i >,:��k��Y���,�b�e�� paid to Se3.lez. Sell.er v�:!--? 1- �aaY Buyer in Cash <br />an amount ee�ua�. to the gecurity and othe� �z���� c�,epo�its, f1 and <br />advance deposits, all as wili be /� �¢���,�.,s,��,�`�a�°, �,c��,��;�;��s;>>-J�:�� at <br />Clo�ing. Final. teadings and fa.nal %ii��'��`i��� �"�� �.�:il�ities� wi��' be <br />made if pos�ible a� of the Closing Da��< 5�11�r �hall pay all <br />. ou�standirtg amounts dne as of guch time. Seller shall also be <br />! entitled to any applicable refunds of security deposits with any <br />' • ntility companies. If final readings and bi113ngs cannot be <br />� obtained as oi Cl.osing, the fina�. bills when receivad shall be <br />prorated based upon the numbe� of days Seller owned the P*_'operty in <br />such final bi�ling period. S�I?er shall pay all charges for <br />� �deiiver3es made and services rendered and all other operating costs <br />� oi the Property up to th� Closing Data. Any items on orde= but <br />. und�livered as o� the Closing Date will be reviewed and accepted or <br />� cance].led a� desired by Buyer. Zf an�r adjustment or proratfon <br />� hereunder shai7, be found �o be inco�zec� w�.tha.n sixty ( 60 ) days <br />after the Closing nafie, Buyer and Se].ler agree to ta,znel� effect the <br />correction o� readjustment thereoi. <br />. 2Q. Notices. A].1 w�itten notices and demands of any ki�d, <br />which either party mag be required or ma� de�ire tQ serve upon the <br />other party in connection with this Agx�eement, rnay be served ( as an <br />alternative to personal service) by �eg�.ste�ed or certiiied mail a� <br />�y nationaZ overnight couri�r. Any 5uch notice or demand so 5erved <br />. by registered or Cert3fied mail shall be deposi.ted in the United <br />• States Mail with postage thereon fully prepa=d and addressed �o the <br />party to be serv�d at the address set forth at th� beginning oP <br />thia agreement, or such oth�r address as the other party may <br />provide in writing. Ser�rice of any guch notice or demand so made <br />by mai3. shaiJ, be d�emed complete on the day of mailing, and serv�.ce <br />made by nationa7. overnight caurier sha�.l be deemed compl�te when <br />delivered by such couzier. <br />21. M��scellaneous. The terms, covenan.t5, indemnities and <br />cond�,tions of th�.s Purchase Agreement shall be binding upon and <br />inure to the benefit of the successors and assigns oi the <br />respeciive part.�es hex�eto, and shall 5urvive the Closing Date. <br />Time is of the essence of this AgreemenL. Each party shall bear <br />their respective I.eqal fees. <br />' 2Z, Acceptance af Offer. This off�r shail expixe and be <br />' deemed revoked unless it is accepted by Se.�let within ten ( l0 ) days <br />of delivery to Se11er by Selle�c del3,vering a fu].ly executed <br />agreement to Buyer. <br />LNW102967 <br />1QJ1Z5-36 8 <br />