64-74 Sell 1466 Marlowe - Laserfiche WebLink

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The VENDOR agrees to convey said premises to the VENDEES by good and sufficient warranty deed warranting the same free from all encumbrances whatso- ever except zoning ordinances, conditions and restrictions of record, easements and reservations, if any, and current taxes and/or assessments. The VENDOR agrees to furnish a guarantee of title procured from Lawyer's Title Insurance Corporation guaranteeing in the amount of the purchase price, that the record title is such as warranted in said deed. The VENDOR agrees to deliver possession of said premises to the VENDEES as of the date of the filing of the deed for record. The deed, funds, mortgage, if any, and all otber documents necessary to complete this transaction shall be deposited with The Cleveland Trust Company, 14800 Madison Avenue, Lakewood, Ohio, as escrow agent, on or before 30 days from execution of this agreement, and said escrow agent is instructed to complete this transaction as soon as all necessary documents and funds are deposited and the escrow agent may attach its usual conditions of acceptance of escrow hereto, Each party will pay one-half of the escrow fee. VENDEES to pay the cost of recording deed. If the title to said premises shall not be marketable, then the VENDOR shall refund to the VENDEES the earnest money paid to the VENDOR and the same shall be accepted by the VENDEES in full satisfaction and discharge of all claims and demands of the VENDEES arising or in any manner growing out of this agree- ment and thereupon this agreement shall be null and void and both parties re- leased from the obligations thereof. In the event the VENDEES fail to perform this contract of purchase and sale as hereinbefore provided, the VENDOR may, at its election, either pursue its rights at law and in equity or it may retain the earnest money aforesaid paid in the sum of Five Hundred Dollars ($500.00) to apply toward the purchase price as liquidated damages. This instrument contains the entire agreement between the parties and said agreement shall inure to the benefit of and be binding upon the respective parties, their heirs, successors and assigns. · Adopted: Approved: Section 3. That this Ordinance is hereby declared to be an emergency measure for the reasons stated in the preamble hereof and providing it receives the affirmative vote of two-thirds of all members elected to Council, it shall take effect and be in force immediately upon its adoption and approval by the Mayor. ice Pr~ident_ ~ - Mayor