2019.11.04 CC Packet - Laserfiche WebLink

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attached Exhibit "C". Seller agrees that it will, throughout the term of the Option, keep the Real Property free from any liens, encumbrances and adverse claims and agrees not to enter into any leases for the Real Property, except for leases which may be terminated on thirty (30) days' written notice. In the event there are any liens, encumbrances or adverse claims, other than the Permitted Encumbrances, Seller agrees to promptly remove the same and authorizes the Buyer to deduct from the Purchase Price such sums as are necessary to remove any liens, encumbrances or adverse claims, other than the Permitted Encumbrances. In the event Seller is unable to convey marketable title to the Real Property, subject only to the Permitted Encumbrances, Seller shall be considered in default under this Agreement and Buyer may, at Buyer's option, terminate this Agreement and, upon such termination, the Initial Option Payment and all subsequent Option Payments paid by Buyer to Seller shall be promptly refunded to Buyer. The Seller shall pay for the cost of the title commitment and any cost necessary to update the commitment within thirty (30) days from the date of the Closing. Buyer shall have ten (10) days from the receipt of the updated commitment to make any additional objections with respect to any new liens, encumbrances or other matters reflected on the updated title commitment. The Buyer shall be responsible for the cost of the premium for the owner's and lender's title policy. Seller has, at its expense, provided Buyer with an ALTA survey of the Real Property. 12. Real Estate Taxes and Assessments. Seller shall be responsible for payment of the real estate taxes due and payable through the date of closing. Real estate taxes due and payable in the years prior to the Closing on the Real Property shall be paid by the Seller on or before the Closing. Seller shall also pay at Closing all deferred real estate taxes or assessments, including so-called "Green Acres" taxes and assessments resulting from or due to the sale of the Real Property, if any. Seller makes no representations or predictions concerning the amount of real estate taxes or special assessments that may be levied against the Real Property or the classification of the Real Property. Special assessments, if any, shall be prorated to the Effective Date of this Agreement, with Seller paying all special assessments levied prior to the Effective Date of this Restated Agreement and Buyer paying all special assessments levied after the Effective Date of this Agreement. 13. Closing Documents. Subject to performance by the Buyer and the Seller of their respective obligations hereunder, the Buyer and the Seller agree to fully execute, as necessary, and deliver at the Closing the following: (A) Warranty Deed conveying marketable title to Buyer to the conveyed land, free and clear of all liens and encumbrances except the Permitted Encumbrances. (B) Buyer shall pay the mortgage registry tax due on any mortgage placed on the Real Property by the Buyer. (C) An affidavit by Seller indicating that on the date of Closing there are no outstanding unsatisfied judgments, tax liens, or bankruptcies against or involving the Seller and that there are no leases, maintenance agreements or other agreements in force as to the Real Property, and that the Seller knows of no unrecorded interests in the Real Property of any kind, together with whatever standard owner's affidavit may be required by the Buyer. 5