CC PACKET 04271999 - Laserfiche WebLink

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payment of which is not otherwise provided herein. Seller makes no representation • concerning the amount of future real estate taxes or of future special assessments. 6. DAMAGES TO REAL PROPERTY. If the real property is damaged prior to closing, this Agreement shall NOT terminate and Seller and Buyer shall proceed to close this transaction in accordance with the terms hereof. 7. POSSESSION. Seller shall deliver possession of the Property not later than the Date of Closing. All interest, fuel oil, liquid petroleum gas, and all charges for city water, city sewer, electricity, and natural gas shall be prorated between the parties as of Date of Closing. 8. EXAMINATION OF TITLE. Within a reasonable time after acceptance of this Agreement Seller shall furnish Buyer with either a Registered Property Abstract or an Abstract of Title certified to a date within 30 days of the date of delivery, which includes proper searches covering bankruptcies and State and Federal judgements, liens, and levied and pending special assessments. Buyer shall have ten (10) business days after receipt of the Registered Property Abstract or Abstract of Title to have either Buyer's attorney examine the title and provide Seller with written objections or, at Buyer's own expense, to make an application for a Commitment for Owner's Title Insurance Policy ("Commitment") and notify Seller of such application. Buyer shall have ten (10) business . days after receipt of the Commitment to provide Seller with a copy of the Commitment and Buyer's written objections. Buyer shall be deemed to have waived any title objections not made within the applicable ten (10) day period, except that this shall not operate as a • Waiver of Seller's covenant to deliver a statutory Warranty Deed. 9. TITLE CORRECTIONS AND REMEDIES. Seller shall have 60 days from receipt of Buyer's written title objections to make title marketable. Liens or encumbrances for liquidated amounts which can be released by payment or escrow from proceeds of closing shall not delay the-closing. Cure of the defects by Seller shall be reasonable, diligent, and prompt. Pending correction of title, all payments required herein and the closing shall be postponed. A. If notice is given and Seller makes title marketable, then upon presentation to Buyer of documentation establishing that title has been made marketable,. and if not objected to in the same time and manner as the original title objections, the closing shall take place within ten (10) business days or on the scheduled closing date, whichever is later. B. Seller proceeds in good faith to make title marketable but the 60 day period expires without title being made marketable, Buyer may declare this Agreement null and void by notice to Seller, neither party shall be liable for damages hereunder to the other, and earnest money shall be refunded to Buyers. C. If the 60 day period expires without title being made marketable due to Seller's failure to proceed in food faith, Buyer may: -2-