2009-016-ORD REZONE 3700 BONHAM - Laserfiche WebLink

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Commercial Contract - Unimproved Property Concerning Corner of Loop 286 and Hwy 82 West survey, or B. If, without fault, Seller is unable within the time allowed to deliver the estoppel certificates, commitment, Buyer may: less an independent consideration under (1) terminate this contract and receive the earnest money, Y Paragraph 7B(1), as the sole remedy; or (2) extend the time for performance up to 15 days and the closing will be extended as necessary. C. Except as provided in Paragraph 15B, if Seller fails to comply with this contract, Seller is in default and Buyer may: (1) terminate this contract and receive ththereb money, releaing the parties from om this contract or under Paragraph 78(1), as liquidated damages, Y (2) enforce specific performance, or seek such other relief as may be provided by law, or both. nced against any part of the 16. CONDEMNATION: If before closing, condemnation proceedings are comme Property, Buyer may: A. terminate this contract by providing written notice to Seller ss any l independent consideration vpaid under condemnation proceedings and the earnest mon y, Paragraph 713(1), will be refunded to Buyer; or B. a pear and defend in the condemnation proceed P ing sam emountrowilt, at Buyer's election, belong to: (1) Seller and the sales price will be reduced by the (2) Buyer and the sales price will not be reduced. row 17 ATTORNEY'S FEES: If Buyer, Seller, any broker, or any this transactionssuch party prevailing is party to recover proceeding brought under or with relation to this rote c from the non - prevailing parties all costs of such proceeding and reasonable attorney's fees. This Paragraph 17 survives termination of..this contract. 18. ESCROW: A. At closing, the earnest money will be applied first to any cash down payment, then to Buyer's closing costs, and any excess will be refunded to Buyer. payment of B. if both parties make written demand for the and a escrow og liability ty of escrow ow ag agent from unpaid expenses incurred on behalf of the parties all parties. If one arty makes written demand for the earnest money, escrow agent will give notice of the demand C p of the demand. If escrow agent does not receive written objection a by providing to the other party copy to the demand from the other party within 15 days after the date escrow agent sent the demand tot the the other P arty, escrow agent may disburse the earnest money t° receiv'Ing the earnest money and descrow amount of unpaid expenses incurred on behalf of the part y agent may pay the same to the creditors. before disbursing any D. Escrow, agent will deduct any independent the independent tconsiderat consideration Seller.B(1) earnest money to Buyer and will pay hereby releases escrow agent from all E. If escrow agent c disbursal of the earnest money. party Y claims related to F. Notices under this Paragraph 18 must be sent by certified mail, return receipt requested. Notices to escrow agent are effective upon receipt by escrow agent 19. MATERIAL FACTS: To the best of Seller's knowledge and belief: (Check only one box.) attached Property ❑ A. Seller is not aware of any material defects to the Property except as stated in Condition Statement. Page 9 of 12 (TAR -1802) 10-18 -05 Initialed for Identification by Buyer , and Selle Produced with ZipFomn0 by zipLogix 16070 Fifteen Mile Road, Fraser, Michigan 48026 ww zipLoaix com Montgomery - �!