7.2. HRSR 06-04-2018 - Laserfiche WebLink

Home Browse Search

retained from the purchase price for payment of utility charges. The retained amount(s), less deductions provided for this in paragraph 8, will be delivered to the SellerSellers no later than 60 days following the Closing Date or delivery of possession, whichever is later. Said funds shall be held by Kennedy & Graven, Chartered, as Escrow Agent, pursuant to the terms of the Escrow Agreement attached here as Exhibit B. The provisions of this paragraph shall not merge with the deed and shall survive closing on the Property. (f) Amounts Due. The Buyer's ability to deduct amounts due under this paragraph from the retained escrow is not exclusive but is in addition to the Buyer's rights at law and equity to collect such amounts from the Seller ellers. The Seller i9Sellers are responsible for the amounts due under this paragraph even if. (i) the Buyer neglects to deduct the amount from escrow; or (ii) the escrowed amount is insufficient to pay all amounts due under this paragraph 8. 9. Seller ISe hers' Warranties. The Se4ff a ler hereby representsrenresent and warrantswarrant to the Buyer as of the Closing Date that: (a) Title. The Seller lfashave good, indefeasible, and marketable fee simple title to the Property. (b) Condemnation. There is no pending or, to the actual knowledge of the gellerSellers, threatened condemnation or similar proceeding affecting the Property or any portion thereof, and the Seller hasSellers have no actual knowledge that any such action is contemplated. (c) Defects. The Seller isSellers are not aware of any latent or patent defects in the Property, such as sinkholes, weak soils, unrecorded easements, or restrictions. (d) Legal Compliance. The Seller hasSellers have complied with all applicable laws, ordinances, regulations, statutes, rules, and restrictions pertaining to and affecting the Property and the SellerSellers shall continue to comply with such laws, ordinances, regulations, statutes, rules, and restrictions. (e) Legal Capacity. The Seller hasSellers have the legal capacity to enter into this Agreement. The Seller kasSellers have not filed, voluntarily or involuntarily, for bankruptcy relief within the last year under the United States Bankruptcy Code, nor has any petition for bankruptcy or receivership been filed against the SellerSellers within the last year. (f) Sewer and Water. The Seller warrant that the Property is connected to City sewer and City water. (g) Mechanics' Liens. The Se'mwtsSellers warrant that, prior to the closing, the Sell Sell shall pay in full all amounts due for labor, materials, machinery, fixtures, or tools furnished within the 120 days immediately preceding the closing in connection with construction, alteration or repair of any structure upon or improvement to the Property. (h) Legal Proceedings. There are no legal actions, suits, or other legal or 525535v2 SJS ELI 8548