11 Ordinance - 3700 block of Bonham

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Conceming Corner of Loo 286 and H 82 West Commercial Contrad - Unimproved Property 1 ❑ speCial Warfanty C. At closing, Selier will execute and deliver, at Sellers expense, azi genera deed. The deed must inciude a vendor's lien if any part of the sales price is fnanced. The deed must ons other convey good and indefeasibie title to the Property an showmust conve~y the P operty those permitted under Paragrap h 6 or o t h e r p r o v i s i o n s o f t h i s c o n t r a c t w h i c h w i l l n t b e (1) with no liens, assessments, or other security interests against the Prope r ty satisfied out of the sales price, uniess securing loans Buyer assumes; (2) without any assumed loans in defauit; and lessees, tenants at sufferance, or (3) with no persons in possession of any part of the Property as trespassers except tenants under the written leases assigned to Buyer under this contract. D. At closing, Seller, at Selle►'s expense, will also deliver to Buyer: (1) tax statements showing no delinquent taxes on the Property; (2) an assignment of all leases to or on the Property; (3) to the extent assignable, an assignment to Buyer of any licenses and perrnits related to the Property; auth eller; (4) evidence that the person executing this co{tst tnS Ithat'Sel ePaslnot adfore gonipe~rsonboraifSSeller is a (5) an affidavit acceptable to the escrow agen 9 roceeds foreign person, a written authorization for the WS and ag del ver(the Iahmol ntrto the Ilnter nal Re enue amount sufficient to comply applicable tax la , O Service (IRS) together with appropriate tax forms; and documen (6) any notices, statements, certificates, affdavits, rele closinanof theesale a d stsuancerof the ttle contract, the commitment, or law necessary for th 9 policy, all of which must be compteted by Seller as necessary. E. At closing, Buyer will: (1) pay the sales price in good funds acceptable to the escrow agent; deliver evidence that the person executing this contract is legally capable and authorized to bind (2) Buyer; art of the Property a written statement that: (3) sign and send to each tenant in a lease for any p (a) acknowledges Buyer has received and responsible the tenant's security deposit; and (b) specifies the exact dollar amount of the secuY depos (4) sign an assumption of all leases then in effect; and (5) execute and deliver any. - notices, statements, certifcates, or other documents required by this contract or law necessary to close the sale. Unless the parties agree otherwise, the closing documents will be as found in the basic forms in the F. undin clauses. current edition of the State Bar of Texas Real Estate Forms Manual without any additional this sale closing 11. POSSESSION: Seller will deliver possessio fhohligated to co peetep ordinary wear and t ar excea~a e in its present condition with any repairs Seller is authoriz Any possession by Buyer before closing or byufferanceftelati nshiptbetween t e partiesed by a sep written lease agreement is a landlord-tenant at s 12. SPECIAL PROVISIONS: (Identify exhibit if snecial beinprgvisions are approved by contained Subwinay an attachment. Corporation for the Contract is contingent on locatioconstruction of a Subway franchised store. er obtaining proper zoning for the Contract is also contingent on buy construction of a Subway Restaurant. Seller agrees to cooperate with buyer if rezoning is necessary. guyer will pay buyer's agent commission according to seperate agreement. " - 8-05 Initialed for ldentification by Buyer~, and Seller~ ;x. (TAR-1802) 10-1 18070 Fifteen Mile Road, Fraser, Michigan 48026 wvnv zipoq cAm produced with ZipFortrrO by zipLogix Page 7 of 12 Montgomery - M 000056