Agenda Packets - 2025/11/10 - Laserfiche WebLink

Home Browse Search

Authentisign ID:92CCDA7D-4AA5-F011-8E61-002248330C80 Warranty Deed and the cost of recording all documents required to make title to the Property as required by this Purchase Agreement. Buyer shall pay the fees to record the General Warranty Deed and any mortgage Buyer obtains. Seller and Buyer will split equally the closing fee charged by the Title Company. 19. Seller's Obligations at Closing. On the Closing Date, and subject to the terms, conditions, and provisions hereof and the performance by Buyer of his obligations as set forth herein, Seller shall deliver to Buyer: (a) Property shall be occupied with all existing, non-delinquent tenants with leases in full effect along with Assumption and Assignment of Leases. (b) A General Warranty Deed and a bill of sale for any personal property included in the sale. (c) A seller's affidavit sufficient to allow the Title Company to delete standard exceptions regarding parties in possession and mechanic's liens. (d) The affidavit of Seller confirming that Seller is not a foreign person within the meaning of Section 1445 of the Internal Revenue Code. (e) An assignment of all warranties permits and licenses for the Property that are assignable by Seller. (f) Originals of all documents in the possession or control of Seller including, but not limited to Service Contracts, plans, warranties, guaranties, and other agreements relating to the ownership and operation of the Property that are in Seller's possession. (g) Assignment of the Service Contracts, if any, that are being assigned to Buyer pursuant to Section 11. (h) Such other documents as may be required by this Purchase Agreement, or be necessary to effectively transfer the Property to Buyer, all in a form reasonably satisfactory to Buyer and Seller. (i) Proration of rents and transfer of security deposits from Seller to Buyer at Closing. 20. Buyer's Obligations at Closing. On the Closing Date and subject to the terms, conditions, and provisions hereof and the performance by Seller of their obligations as set forth herein, Buyer shall deliver to Seller: (a) An assignment of the Service Contracts assuming Seller's obligations under the Service Contracts, if any, that are being assigned to Buyer. (b) Such other documents as may be required by this Purchase Agreement, all in a form satisfactory to Buyer and Seller. 21. Remedies. If Seller defaults in the performance of this Purchase Agreement, Buyer shall, as its sole remedies hereunder, have the right to: (i) waive such failure and proceed to Closing without waiving Seller's indemnity obligations; (ii) terminate this Purchase Agreement upon written notice to Seller, in which event the Earnest Money shall be returned to Buyer and Seller will reimburse Buyer's actually incurred out of pocket costs, fees and expenses in conjunction with this Purchase Agreement; or (iii) exercise any rights or remedies at law or in equity, including without limitation an action for specific performance of this Purchase 8