Res 1998-152 - Laserfiche WebLink

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-4- 7. CLOSING. . The closing of the sale shall be on or before October 25, 1998 (the "Closing Date") at the office of the Title Company, at a time to be agreed upon by the Buyer and the Seller. A. At the closing, the Seller will deliver to the Buyer: (1) a General Warranty Deed conveying the Property, in the form described in the attached Exhibit B, subject only to exceptions approved or accepted by the Buyer under paragraph 6; (2) an Owner's Policy of Title Insurance (the "Title Policy") issued by the Title Company in the full amount of the Sales Price, dated as of the Closing Date, insuring Buyer's fee simple title to the Property subject to the permitted title exceptions and the standard printed exceptions contained in the usual form of the Title Policy, except that the exceptions for restrictive covenants, survey, and rights of parties in possession will be deleted; (3) possession of the Property and any keys to it; and (4) all other documents reasonably required by the Title Company or the Buyer to carry out the terms of this Contract. B. At the closing, the Buyer will deliver to the Seller: (1) the Sales Price (less the Earnest Money) in the form of a check, and (2) any document reasonably required by the Title Company or the Seller to carry out the terms of this Contract. C. The costs for curing title matters, attorney fees incurred by the Seller, and all other costs and expenses to be paid by the Seller under this Contract will be the Seller's obligations. The Buyer will pay the title insurance premium, the escrow fee charged by the Title Company, and all costs identified in this Contract to be the Buyer's obligations. D. Rents, water, wastewater and utility charges, and any other items of income or operational expenses owing in connection with the Property for the current year shall be prorated at the closing effective as of the Closing Date. If this sale or the Buyer's use of the Property after closing results in the assessment of additional property taxes for prior years, the additional taxes will be the obligation of the Buyer, which will survive the closing. The Property has had an agricultural exemption and may be subject to rollback taxes.