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5 <br />Page 2 <br />Environmental <br />and Survey: Seller shall provide within fifteen (15) days following execution <br />of the Purchase Agreement a Phase I environmental report and an <br />ALTA /ASCM Class A boundary survey. <br />Contingencies: Purchaser shall have a period of thirty (30) days following receipt <br />of the above Phase I environmental report and an ALTA /ASCM <br />Class A boundary survey ( "Due Diligence Period ") for Purchaser <br />to satisfy itself as to the results of all investigations with respect <br />to the Property including title, environmental and zoning. <br />Purchase of the property will be contingent upon H.R.A. <br />approval. <br />Financing: Purchaser's offer to purchase is not subject to financing. <br />Pro -Rata Income <br />Expenses: All income and expenses related to the operation of the Property <br />shall be pro -rated to the date of closing. <br />Real Estate Taxes and <br />Special Assessments: Real Estate Taxes and Special Assessments due and payable in <br />1997 shall be pro -rated to the date of closing. Any outstanding <br />(levied or pending) assessments shall be assumed by Purchaser. <br />Closing Costs: Purchaser shall be responsible for all premiums required for the <br />issuance of the Title Policy, Mortgage Registration Tax, <br />Recording Fees, one -half of the closing fees charged by the Title <br />Insurance company, and its attorney's fees. <br />The Seller shall be responsible for the payment of the State Deed <br />Tax, the costs of Title Evidence, and one -half of the closing fee <br />charged by the Title Insurance Company. <br />Attorney's Fees: Each of the parties will pay its own attorney's fees, except that a <br />party defaulting under this Agreement or any closing document <br />will pay the reasonable attorneys' fees and court costs incurred <br />by the non - defaulting parry to enforce its rights hereunder. <br />