2009-016-ORD REZONE 3700 BONHAM - Laserfiche WebLink

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Commercial Contract - Unimproved Property Concerning Corner of Loop 286 and H 82 West 13. SALES EXPENSES: Seller's E enses: Seller will pay for th xpe following at a before closing: A. Sel g penalties (1) releases of existing liens, other than those liens assumed by Buyer, including prepay ment and recording fees; (2) release of Seller's loan liability, if applicable; (3) tax statements or certificates; (4) preparation of the deed; (5) one -half of any escrow fee; 6 costs to record any documents to cure title objections under other provisions of of this contra {re; and O. (7) other expenses that Seller will pay B. Buyer's Expenses: Buyer will pay for the following at or before closing: (1) all loan expenses and fees; (2) preparation of any deed of trust; (3) recording fees for the deed and any deed of trust; Buyer's lender; (4) premiums for flood insurance as may be required by Y (5) one -half of any escrow fee; (6) other expenses that Buyer will pay under other provisions of this contract. 14. PRORATIONS: A. Pror_ a =s (1) Interest on any assumed loan, taxes, rents, and any expense reimbursements from tenants will be prorated through the closing date. 2 closes is if the amount of ad valorem taxes for the year in which sessedan the previousty.earl ( If the taxes for the date, taxes will be prorated on the basis of taxes as year in which the sale closes vary from the amountWho htth s le� closeshbcom parties avlailable. This prorations when the tax statements for the year in Paragraph 14A(2) survives closing. subject to an existing lien, Seller will transfer all (3) if Buyer assumes a loan or is taking the Pr ope aY payment of taxes, insurance premiums, and other reserve deposits held by the lender for the p y charges to Buyer at closing and Buyer will reimburse such amounts to Seller by an appropriate adjustment at closing. B Rollback Taxes: If Seller changes the use of the Property before closing or if a denial of a special essment of valuation on the Property claimed by Seller results in tssessments w'll bet eitobl ga taxes on of the Steller. If interest (assessments) for periods before closing, the a r Buyer's use of the Property after closing results inPaaddiitioan h 146 survives for periods before se this sale o Y closing, the assessments will be the obligation of Buy ol Buyer all security deposits and the following C. Rent and Security Deposits: At closing, Seller will tender after closing: prepaid expenses, advance rental advance payments received by tenants. Rents prorated to one party but received by payments, and other advance payments paid by art to whom it was prorated within 5 days after the other party will be remitted by the recipient to the party the rent is received. This Paragraph 14C survives closing. 15. DEFAULT: A. If Buyer fails to comply with this receive the earnest money las liquidated damages, thereby releasing the (1) terminate this contract and revel parties from this contract; or provided rovided by law, or both. (2) enforce specific performance, or seek other relief as may R -1802) 10 -18 -05 Initialed for Identification by Buyer. `� and Sellerp 2 /�,� Page 8 of 12 (rp, Montgomery - M Produced with ZipForm® by zipLogix 18070 Fifteen Mile Road, Fraser, Michigan 48026 wv,,w 7112Loolx com