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<br />If. �141E5 I:.` PEN 4S rte 111: PAID IN C:ASI I AT OR PRIOR TO CLOSING
<br />4. S111111 'S EXPENSES all ones ill releasing cowing loins and reaordine rile rck.nts, t),voers Tale P,,hcs, .urvrl tax statements: I /_s
<br />,J an% exn'w lee; rrep.,—, n of [feed, other evf,cnses snrulmed no he paid h Seller under tither piss- 'stuns of this Gmiraer
<br />B PILI Eft S EXPEN;ES: All r,Fn,,, ,,do,, manv loan (e.st- loan rnwuremcnt Ives, rrerantitin ,J Nor,. I)eed oI T..or. anJ other Loan
<br />skaumrnn, reomhr,! let,, Title IMits, I'mpay.uble interest, credit « j`urs1, lo! "I .ins earn- ter, "r-s-4 reuncmvss, easements.
<br />reaers,unmi. sir condo-tto :dtecnnx'he rmrenv, and e%rrnw, stirulna•J.ro be r.nd ht Buser nndrr. the( provisions „1 this Contract.
<br />12. PRt)RATI( )NS: low.nce (a, Buyer i roots vsl, m cm,, ,m anv .mound tin •,object u, debt, as.nsn+ents, current razes, and any rents and maintenance
<br />fees shall be pn,nccd to the Jade ul cho•mx. If .tJ v.Ilun•m tarts 1or file year to who. 1. -toe tale Is closed are not a%vadablc on the Clusmx Dare.
<br />proration of rues shall he made on the basis ') faxes as esscd nn the pmvmu% star. •• "" o sullseq.ent call, adju,imen: ,d arch rrontiun to
<br />be made between Seller and Buyer, it necessary. when actual fax figures are .1vmlaFk. it nuyer 1 assuming ras•ment u( tin taking subject to
<br />any ex simg litan on the Progeny, all reserve akr,sns for the payment of taxes, ,nsunncc rremfom,, or other charges shall he transferred to
<br />Buyer by Seller and Buyer shall pay to Scl':r die amount of such reserve deposits.
<br />I). TITLE APPROVAL: Seller shall deliver to Buyer within twenty (I0) Jaye from the date of this Contract a Commitment for Title Insurance
<br />(the "Gsmmitment') and, at Buyers request, legible copies of all retarded Instruments affecting the Property and recited as exaepnxns in she
<br />C:ommrtment. If Buyer has an objection to items disclosed in such Commitment or survey, Buyer shall have fourteen (W) Jays after receipt
<br />uJ such Instruments to make written objections in Seller. If Buyer or a third party tender makes such objections or f ohjeettnns ale disclosed
<br />in the Commitment, survey, or by the issuer of the Title Policy, Seller shall have thirty (J0) days from the Jate such objections are disclosed
<br />to cure the time, and she Closing Date shall be extended, if necessary. If the objections are nor satisfied by the extended Closing Date. this
<br />CalityKt shall terminate and the Earnest Muey refunded m Buyer, unless Buyer elects to - -.live the unsatisfied objections arw! complete the pum ale.
<br />14. DEF.IULT If 9nyer fads tin comply herewith, Seller may either enforce specific performance oc terminate this Contract and receive the Earnest
<br />Money as liquidated damages, one half of which (but nut exceeding the herein retired Broker's fee) shall be paid by Stller to Broker in full
<br />Par sent of Broker's services. If Seller fails to caonply herewitls. Buyer may (i) terminate tilts Contract and receive the Earnest Moncy thereby
<br />releasing Seller from this Contract, (ii) enforce specific performance hereof, or (iii) seek such other relief as may be pmvtdcd by law. If completion
<br />d v1e is prevented by Buyers dc(auk. and Seller elects tit enforce specific performance, the Broker % fee is payable only if the and when Seller
<br />collects damages for such default by suit. compromise, settlement, tier otherwise. Notwithstanding the above, accrued interest, if any, ton the
<br />Earnest Money shall he paid to Buyer.
<br />I). ATTORNEYS FEES: Any signatory to this Contract who is the prevailing party in any legal proceeding against any other signatory brought
<br />under or with relation to this Contract or transaction shall tie additionally entitled to recover court costs and reasonable attomey's fees from
<br />the non- Prevailing party.
<br />16. ESCROW: The Earnest Money is deposited with Escrow Agent with the understanding that Escrow Agent (B does mit assume or have any
<br />liability for performance or non-performance is( any party and (it) has the right to require the written release of Escrow Agent, the termination
<br />of this Cntract, and the authontation from 311 parties to disburse the Earnest Money. At cloning, Earnest Money and accrued interest shall
<br />be applied to any cash down payment required, next to Buvei s closing costs and any excess refunded to Buyer. In preparation for clotting, the
<br />Escrow Agent u Broker may incur actual expenses on behalf of Seller or Buyer; therefore, any refund or payment of the Earnest Money under
<br />this contract shall be reduced by the amount of any actual expenses incurred on behalf of the party receiving the Earnest Money. and the
<br />Escrow Agent win pay the same to the cmJiton entitled thereto. To the extent that the Sellers shale of the Earnest Money is insufficient
<br />to pay such expenses, the same will be deducted from the Brokers share of the Earnest Money.
<br />17. REPRESENTATIONS: Seller hereby represents and warrants too Buyer as follows, which representatinns and warranties shall be deemed made
<br />N Stiles to Buyer also xs n( closing date and %Itch representations :rod warnnties .shall survive closing:
<br />A. There are ml parties in rnssession of any ruction of the Property as lessees, tenants at sufferance, of trespassers;
<br />B_ There is no pending or threatened condemnation or similar PnKeedinR or assessment affecting the Property, or any part thererf, nor to
<br />the best krumleJRe and bebef of Seiler h any such ProeeeJrng or assessment contemplated by any governmental authority;
<br />C. Seller is the fee simple owner of the title tit the Property and is July auihuri:e) and emp'nvered to sell said Pmperry;
<br />U Seller has Pail, through the current year, all taxes, charges, debts, and tither assessments due by the Seller with respect to the Property;
<br />E. The Property is not in a Oast plain tar water district• except as follows:
<br />F. All loan(s) assumed it taken subject in will not he In default,
<br />G. There will be no unrecorded liens sir Uniform Commercial Code lima against any of the Property which will not be satisfied out of the
<br />Sales Price;
<br />H. Seller knows d no existinR condition with mpect to -,t;t Property or its operation which violates any government code or regulation;
<br />1. Seller has no knowledge that the Property is subject to any surface or subsurface ground faults:
<br />). The Pmperty is not being used and Seller has no knowledge that it has ever been used for the storage or Jisposal of any hanrdous or
<br />toxic materials;
<br />K. Tit the best of Sellers knowledge, nu fact or condition exists which would result in she termination of the current access from the Property
<br />to any presently existing highways and /or mads adjoining or situated on the Property, sir to any existing sewer or other utility facilities
<br />servicing, adjoining, or situated on the Property;
<br />L. Seller shall not further encumber, or allow the encumbrance of. the'tide rs the Property, or modify the terms or conditions of any existing
<br />encumbrances, if any, without the written consent of Buyer.
<br />If any representation above if untrue, this Contract may he terminated by Buyer and Eamqt Money shall be refunded to Buyer, excluding (D).
<br />IF) and (G) which shall be remedied by Seller prior for timing.
<br />IS. USE OR PROPERTY: Seller O has}(] has not claimed the benefit of laws permitting a special use valuation for the purposes of payment
<br />"fail valaitem axes son the Pry eery, and if x; Seller represents that he was legally entitled to claim such benefits. If Seller claimed such benefit
<br />aryl aher the purchase is closed. Buyer changes the use of the Property and the same results in die assessment of additional taxes, such additional
<br />taxes will be tl,e obligation of file Buyer. The representation herein shall survive closing.
<br />19. PROPERTY SURVEY: Within _10_,_ days from effective date hereof, Seller, at Seller's sole cost and expense, shall cause to be
<br />delivered ro Buyer a current plat w survey of the Property, Prepared by a suevcror acceptable to the parties and the Title Company closing
<br />This transaction. The survey shall terrify to the Buyer and Tide Company that•. (i) the survey was made and staked on the gmund; 00 the
<br />Plat shows the location of all improvements. highways, streets, loads, radmaJs, riven, creeks, or other waterways, fences, casements, and fightr
<br />o f " on of adjactru to the Property of any; (iii) there are no visible discrepancies, con0icts, of encroachments except as shown on the survey
<br />plat, (iv) she Property skies nit lie In the 1010 year (lunl plain as established by else U. S. Army Corp of Engineers rat any other governmental
<br />6-Jr; and (v) she survey plat is a true. correct. and accurate representation of the Property; (vi) she surrey sets A)nh tho qumber of total acers/xpsare
<br />feet (whKhtver is applicable) and tilt number of net acm4kIuare fees (whichever is applicable) comprising the Property, tWther with a metes
<br />and bo,Kwh description thereof. The term net acreshquare feet shall mean the total number Of acres/sgsrare feet contained in she Property
<br />tatclussve of any encroachments or land lying within list boundaries tf a rlght•u( -way of easement or
<br />NO shall h calculated ti, rise nearest trle•fixwsankth 000Oth►oll an sere. All easements and nghtsa(•war shall be reference)
<br />M the recording Inf wrnatton applicable to the documents creating such easements tit tixhts•,f•way which have been recorded with she County
<br />Clod of the County in which the Property is kocate 1. The survey shall locate and mark all comers and angles of the Property's perimeter
<br />tin the ground wish ptimanent, hurled tmn sueveyu's srales.
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