5. EDSR 06-17-2013 - Laserfiche WebLink

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COMMERCIAL PURCHASE AGREEMENT 86. Page 3 Date 06/10/13 87, Property located at Parcel Al 88. Seller shall be responsible to pay, under either option,only those costs necessary to prepare the Registered Property 89. Abstract or commitment. Buyer shall, at Buyer's option, pay for either an attorney's title opinion or the title insurance 90. premium (for both an owner's policy and any lender's policy and the examination fee, together with the costs for any 91. endorsements or other coverages requested by Buyer). 92. Buyer shall have ten (10) business days after receipt of the Abstract of Title, Registered Property Abstract or title 93. insurance commitment to provide Seller, or licensee representing or assisting Seller, with written objections to title. 94. Buyer shall be deemed to have waived any title objections not made within such ten (10) day period, except that this 95. shall not operate as a waiver of Seller's covenant to deliver a Deed, as specified in this Purchase Agreement.Seller 96. shall use Seller's best efforts to correct any title objections noted by Buyer and to provide marketable title by the date 97. of Closing. In the event Seller has not cured the title objections or otherwise provided marketable title by the date of 98. Closing,Seller shall have an additional thirty(30)days to correct the title objections or otherwise make title marketable. 99. Buyer may waive title objections or other defects by written notice to Seller or licensee representing or assisting Seller.In 100. addition to the thirty(30) day extension, Buyer and Seller may by mutual agreement further extend the Closing date. 101. Lacking such extension,either party may declare this Purchase Agreement terminated and neither party shall be liable 102. for damages to the other.Buyer and Seller shall immediately sign a cancellation of purchase agreement directing all 103. earnest money paid hereunder to be refunded to Buyer. 104. SUBDIVISION OF LAND: If this sale constitutes or requires a subdivision of land owned by Seller, Seller shall pay 105. all subdivision expenses and obtain all necessary governmental approvals. Seller warrants that the legal description 106. of the real property to be conveyed has been or shall be approved for recording as of the date of closing.Seller warrants 107. that the buildings are or shall be constructed entirely within the boundary lines of the property.Seller warrants that 108. there is a right of access to the property from a public right-of-way.These warranties shall survive the delivery of the 109. deed or contract for deed. 110. MECHANIC'S LIENS:Seller warrants that prior to the closing,payment in full will have been made for all labor,materials, 111. machinery, fixtures or tools furnished within the 120 days immediately preceding the closing in connection with 112. construction, alteration or repair of any structure on,or improvement to,the property. 113. NOTICES:Seller warrants that Seller has not received any notice from any governmental authority as to condemnation 114. proceedings, or violation of any law, ordinance or regulation.If the property is subject to restrictive covenants, Seller 115. warrants that Seller has not received any notice from any person or authority as to a breach of the covenants.Any 116. such notices received by Seller shall be provided to Buyer immediately. 117. DIMENSIONS:Buyer acknowledges any dimensions,square footage or acreage of land or improvements provided by 118. Seller,third party,or broker representing or assisting Seller are approximate.Buyer shall verify the accuracy of information 119. to Buyer's satisfaction,if material, at Buyer's sole cost and expense. 120. ACCESS: Seller agrees to allow reasonable access to the property for performance of any surveys,due diligence or 121. inspections agreed to herein. 122. REPRESENTATIONS AND WARRANTIES:See attached Addendum. 123. TIME IS OF THE ESSENCE FOR ALL PROVISIONS OF THIS CONTRACT. 124. ENTIRE AGREEMENT:This Purchase Agreement, any attached exhibits and any addenda or amendments signed 125. by the parties shall constitute the entire agreement between Seller and Buyer and supersedes any other written or 126. oral agreements between Seller and Buyer.This Purchase Agreement can be modified or canceled only in writing 127. signed by Seller and Buyer or by operation of law.The parties agree the electronic signature of any party on any 128. document related to this transaction constitute valid, binding signatures.All monetary sums are deemed to be United 129. States currency for purposes of this Purchase Agreement.Buyer or Seller may be required to pay certain closing costs, 130. which may effectively increase the cash outlay at closing or reduce the proceeds from the sale. 131. FINAL ACCEPTANCE:To be binding, this Purchase Agreement must be fully executed by both parties and a copy 132. must be delivered. MNC:PA-3(10/12) lustanc,t forms ,