17 Request for Zoning Change 3755 FM 195

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Commercial Contract. Unimproved Property Conceming Fl'1195 Buyer's inspections, studies, or assessments, including any property damage or personal injury. Buyer will indemnify, hold harmless, and defend Seller and Seller's agents against any claim involving a matter for which Buyer is responsible under this paragraph. This paragraph survives termination of this contract. D. Property Information: (1) Delivery of Property Information: Within days after the effective date, Seller will deliver to Buyer: CJ (a) copies of all current leases pertaining to the Property, including any modifications, supplements, or amendments to the leases; CJ (b) copies of all notes and deeds of trust against the Property that Buyer will assume or that Seller will not pay in full on or before closing; o (c) copies of all previous environmental assessments, geotechnical reports, studies, or analyses made on or relating to the Property; a (d) copies property tax statements for the Property for the previous 2 calendar years; o (e) plats of the Property; o (f) copies of current utility capacity letters from the Property's water and sewer service provider; and o (g) (2) Return of Propertv Information: If this contract terminates for any reason, Buyer will, not later than 10 days after the termination date: (a) return to Seller all those items described in Paragraph 7D(1) that Seller delivered to Buyer and all copies that Buyer made of those items; and (b) deliver copies of all inspection and assessment reports related to the Property that Buyer completed or caused to be completed. This Paragraph 7D(2) survives termination of this contract. E. Contracts Affecting Operations: Until closing, Seller: (1) will operate the Property in the same manner as on the effective date under reasonably prudent business standards; and (2) will not transfer or dispose of any part of the Property, any interest or right in the Property, or any of the personal property or other items described in Paragraph 28 or sold under this contract. After the feasibility period ends, Seller may not enter into, amend, or terminate any other contract that affects the operations of the Property without Buyer's written approval. 8. LEASES: A. Each written lease Seller is to assign to Buyer under this contract must be in full force and effect according to its terms without amendment or modification that is not disclosed to Buyer in writing. Seller must disclose, in writing, to Buyer if any of the following exist at the time Seller provides the leases to the Buyer or subsequently occur before closing: (1) any modifications, amendments, or default by landlord or tenant under the leases; (2) any failure by Seller to comply with Seller's obligations under the leases; (3) any circumstances under any lease that entitle the tenant to terminate the lease or seek any offsets or damages; (4) any advance sums paid by a tenant under any lease; (5) any concessions, bonuses, free rents, rebates, brokerage commissions, or other matters that affect any lease; and (6) any amounts payable under the leases that have been assigned or encumbered, except as security for loan( s) assumed or taken subject to under this contract. 8. Estopoel Certificates: Within days after the effective date, Seller will deliver to Buyer estoppel certificates signed not earlier than by each tenant that leases space in the Property. The estoppel certificates must s~: (TAR"1802) 10-18-05 Initialed for Identification by BUyea, _ and Seller ~_,_ Page 5 of 12 Produced with ZipForm™ by RE FormsNet, L.LC 18025 Fifteen Mile Road, Clinton Township. Michigan 48035 www.ziDform.com DARNELL TO r'.'