5.7. ERMUSR 11-12-2003 - Laserfiche WebLink

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assumes and shall pay all general real estate taxes in all years subsequent to Closing. Seller SHALL PAY ON DATE OF CLOSING any deferred or delinquent real estate taxes or special assessments. 6. CLOSING. The Closing (herein the "Closing" or"Date of Closing") shall take place on November 15, 2003. 7. SELLER'S BOUNDARY LINE, ACCESS, RESTRICTIONS AND LIEN WARRANTIES. Seller warrants that buildings, if any, are entirely within the boundary lines of the property. Seller warrants that there is a right of access to the real property from a public right of way. These warranties shall survive the delivery of the Deed. 8. SUBDIVISION OF LAND/EASEMENT. Seller agrees to cooperate with the Buyer in the subdivision of the parcel being purchased. Buyer to pay all subdivision expenses • and obtain all necessary governmental approvals. Seller agrees to sign any plats or other documents required by Buyer for the subdivision process. In the event Buyer is not successful in securing subdivision approval, Seller shall grant Buyer a permanent easement to the parcel for the purpose of constructing and maintaining a municipal well. 9. CONDITION OF PROPERTY. Seller shall remove all debris and all personal property not included in this sale from the property before possession date. Buyer shall have the right to have inspections of the property conducted prior to closing. 10. DISCLOSURE OF NOTICES. Seller has not received any notice from any governmental authority as to violation of any law, ordinance or regulation. If the property is subject to restrictive covenants, Seller has not received any notice from any person as to a breach of the covenants. 11. TIME IS OF THE ESSENCE FOR ALL PROVISIONS OF THIS CONTRACT. 12. POSSESSION. Seller shall deliver possession of the property on the date of execution of this Agreement. Buyer to begin immediate construction of a municipal well. 13. TITLE. As soon as shall be reasonably possible after the date hereof, Seller, at Buyer's expense, shall furnish an abstract of title, certified to date to include proper searches covering bankruptcies, state and federal judgments and liens, and levied and pending special assessments. Alternatively, Seller shall provide to Buyer the written commitment of Old Republic Title Insurance Company committing to insure Buyer's fee title to the real estate constituting the Property, free and clear of all encumbrances except as set forth herein. Buyer shall bear the cost of issuing such title insurance commitment. Buyer shall be allowed ten (10)working days after receipt of such commitment to examine title and making objections in writing to the marketability thereof. If Buyer does not so • 2