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511 <br />C. All costs of pro rated taxes attributable to the Chamber of Commerce in its ultimate <br />sale shall be deducted from said $200,000.00. <br />d. Any and all other reasonable closing costs associated with either transaction shall be <br />deducted from said $200,000.00. <br />.e. The remainder of the $200,000.00, following the deduction of all costs associated <br />with the ultimate sale of the Property, shall be applied as follows: <br />(1) $60,000.00 (less the City's share of closing costs as specified above) to the <br />City of Paris, to be used by the City of Paris in the construction of an adjacent <br />parking lot to service the Depot building, the Depot park, and Heritage Hall; <br />(2) The remainder of the City's $60,000.00 (after construction of the above - <br />referenced parking lot) and the Chamber's $140,000.00 shall be applied to <br />construction of improvements to the Depot structure and surrounding <br />properties deemed necessary and appropriate by the Chamber of Commerce <br />and the City of Paris. <br />3. Deed. At closing, Seller shall deliver a General Warranty Deed to Bllyer conveying fee <br />simple title to the Seller's undivided three- tenths (3/10) interest, fi•ce and clear of all liens, <br />claims, and enclunbrances, except the following "permitted encumbrances" <br />a. Real Estate Taxes and assessments not yet due and payable; <br />b. Othcr grants in favor of third parties that do not materially interfere with the current <br />use ofthe Property; <br />C. Easements or other grants to utility companies and /or public or quasi- public entitles <br />to facilitate the delivery of utilities to the Property, or for road, water, sewer, or other <br />public purposes, regardless of whether they are for the benefit of the Property.- - <br />4. Property condition. The following agreements are made as to.the condition of the <br />Property: <br />a. Buyer accepts the. Property in as is condition. <br />5. Warranties and remedies. Seller hereby warrants and represents to Buyer that: <br />a. Seller is the sole owner of Seller's undivided three- tenths (3/10) interest of said real <br />Property with full right to sell and dispose of same as Seller may choose, and that no <br />other person or persons have any claim, right, title, interest or lien in and to or on said <br />undivided real Property interest, save and except that seven - tenths (7/10) interest <br />owned by Buyer, and subject to any and all other claims, liens, or encumbrances <br />Vage 3 of 7 <br />