11 Ordinance - 3700 block of Bonham

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Corner of Loo 286 and H 82 West Commercial Contract - Unimproved Property Conceming 'thout fault, Seller is unabie within the time allowed to deliver the estoppel certificates, Y under B• if, WiSUNG' Of commitment, Buyer may: less any independent consideration und (1) terminate this contract and receive the earnest money, Paragraph 713(1), as the sole remedy; or 2 extend the time for performance up to 15 days and the closing will be extended necessary. C. n default and ExcePt as provided in Paragraph 156, if Seiler fails to comply with this contract, Seller guyer may: Paragraph 7B(1), dependent consideration un e erminate this contract and receive the earnest money, less any in (1) t as liquidated damages, thereby releasing the parties from this contract; or rovided by law, or both. (2) enforce specific performance, or seek such other relief asS aebcommenced against any part of the 16. CONDEMNATION: If before closing, condemnation proceeding Property, Buyer may: after the A. terminate this contract bY Providing written notice to Seller within 15 endent cons deration vpaid under condemnation Pr°y.ill be refunded to Buyee ormoney, less any mdep Paragraph 76(1), defend in the condemnation proceedings and any award will, at Buyer's election, belong to: B. appear and (1) Seller and the sales price w! ~l ~ b ot be redu ced he same amount; or (2) Buyer and the sales pnc revailin art in any legal , 17. ATTORNEY'S FEES: If Buyer, Seller, any broker or any escrow agent is a p 9 P Y roceeding brought under or with relatio c on eding andtreasonal art is entitled to recover from the non-p ble attorney's fees. This Paragraph p revailing parties all costs of such Pe 17 survives termination of this contract. 18. ESCROW: ment, then to Buyer's closing the earnest money will be appl►ed frst to any cash down pay A. At closing, costs, and any excess will be refunded to Buyer. escrow agent may require payment of B. If both parties make written demand for the earnest money, s incurred on behalf of the parties and a written release of liability of escrow agent from unpaid expense a11 parties. makes written demand for the earnest money, escrow agent will give notice of the deman row agent does not receive written objection C. If one pa~Y If esc by providing to the other party a copy of the demand. to the demand from the other party Within 15 days after the date escrow agent sent the demand to the a~ escrow agent may disburse the earnest money to the pa y making demand, reduced by thE other p Y, Red on behalf of the party receiving the earnest money and escrow amount of uap the same to the creditors. agenf rnay p Y at onrto Sel e~ B(1 ) before disbursing any D. Escrow age agraph nt will deduct any independent consideration under earnest money to Buyer and will pay the independen con ~ hereby reteases escrow agent from af{ E. If escrow agent complies with this Paragraph 18, each paY claims related to the disbursal of the eamest money• escrow agent a certified mail, return receipt requested. Notices to F. Notices under re~ eff cti ve uppon 8eceipt by escrow agent. RIAL FACTS: To the best of Seller's knowledge and belief: (Check only one box.) 19. MATE except as stated in the attached Property ❑ A. Seller is not aware of any material defects to the Property Condition Statement. pa9e 9 of 12 (TAR-1 802) ~ 10-18-05 Initialed for ldentification by Buyer and Selle~~ com Montgomery - prpduced with ZipFortr~ by zipLogix 18070 Fifteen Mite Road, Fraser, Michigan 48026 wwW.zioLoqix--.