Res 2004-090 - Laserfiche WebLink

Home Browse Search

Commercial Contract - Improved Property concerning 1402 West Hopkins Street, San Marcos (2) Seller may, but is not obligated to, cure Buyer's timely objections within 20 days after Seller receives the objections. The closing date will be extended as necessary to cure the objections. If Seller fails to cure the objections by the time required, Buyer may terminate this contract by providing written notice to Seller within 5 days after the time by which Seller must cure the objections. If Buyer terminates, the earnest money, less any independent consideration under Paragraph 7B(3)(a), will be refunded to Buyer. (3) Buyer's failure to timely object or terminate under this Paragraph 60 is a waiver of Buyer's right to object except that Buyer will not waive the requirements in Schedule C of the commitment. 7. PROPERTY CONDITION: !XI A. Present Condition: (Check (1) or (2) only.) !XI (1) Buyer accepts the Property in its present "as-is" condition. o (2) Buyer accepts the Property in its present condition except that Seller, at Seller's expense, will complete the following before closing: o B. Feasibility: (1) Delivery of Property Information: Within days after the effective date, Seller will deliver to Buyer the following items to the extent that the items are in Seller's possession or are readily available to Seller. Any item not delivered is deemed not to be in Seller's possession or readily available to Seller. The items Seller will deliver are: (a) a current rent roll of all leases affecting the Property certified by Seller as true and correct; (b) copies of all current leases pertaining to the Property, including any modifications, supplements, or amendments to the leases; (c) a current inventory of all personal property to be conveyed under this contract; (d) copies of all notes and deeds of trust against the Property that Buyer will assume or that Seller will not pay in full on or before closing; (e) copies of all current service, maintenance, and management agreements relating to the ownership and operation of the Property; (f) copies of current utility capacity letters from the Property's water and sewer service provider; (g) copies of all current warranties and guaranties relating to all or part of the Property; (h) copies of fire, hazard, liability, and other insurance policies that currently relate to the Property; (i) copies of all leasing or commission agreements that currently relate to all or part of the Property; U) a copy of the "as-built" plans and specifications and plat of the Property; (k) copies of all invoices for utilities and repairs incurred by Seller for the Property in the 24 months immediately preceding the effective date; (I) a copy of Seller's income and expense statement for the Property from to , (m) copies of all previous environmental assessments, studies, or analyses made on or relating to the Property; (n) real and personal property tax statements for the Property for the previous 2 calendar years; and (0) (TAR-1801) 2-6-02 Initialed for Identification by Buyer Jj ,_ Seller J2B, -5t3 Page 4 of 14 Produced with ZipFonnlM by RE FonnsNet, LLC 18025 Fifteen Mile Road, Clinton Township, Michigan 48035, (800) 383-9805 T6285880.ZFX