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placed in escrow with an escrow agent satisfactory to <br /> the Lender and Buyer. <br /> 7. TITLE TRANSFER, OCCUPANCY AND POSSESSION. <br /> A. Title Transfer. Title shall transfer <br /> to Purchaser by the recording of the deed unless.such <br /> date is changed by agreement of Buyer and Seller and <br /> Lender. <br /> B. Occupancy and Possession. Seller <br /> shall deliver occupancy and possession of the Property <br /> to Buyer upon transfer of title. <br /> 8. SALES COMMISSIONS. Both parties agree, <br /> warrant and represent that no real estate sales <br /> commissions are due any person or entity and each <br /> agrees to'indemnify, save and hold harmless the other <br /> from any claims for sales commissions of any sort <br /> arising through them. <br /> 9. pRORATIONS, CHARGES AND CREDITS. <br /> A. Charges Against Seller. Seller shall <br />be charged .with the following costs, to be paid by the <br />Escrow Agent from funds due Seller: (1) the cost of <br />examination of title (2) the costs of satisfying any <br />taxes, assessments, liens or encumbrances required to <br />be discharged by this Agreement~ (4) any real estate <br />commissions required to be paid by Seller; (5) the <br />amount of any prorations due Buyer under this <br />Agreement. .All of Sellers charges will be paid by <br />Lender. <br /> B. Charges Against Buyer. Buyer shall <br />be charged with the following costs to be paid by Buyer <br />prior to transfer of title: (1) the costs of any <br />Survey to be performed by the Buyer if desired; (2) <br />the cost of any title insurance; (3) the costs incident <br />to filing the Deed including cost of conveyance fee or <br />real estate transfer tax, if any. <br /> 10. This Purchase Agreement is contingent <br />upon the following terms and conditions: approval by <br />City Council by the adoption of an ordinance or <br />resolution authorizing the Mayor to sign this Agreement <br />on behalf of the City of Lakewood. If such approval is <br />not granted by adoption of such legislation, or such <br />legislation is set aside by referendum or court action, <br />this agreement shall be void ab initio and all parties <br />be returned to their original position. Seller shall <br />have 90 days to obtain such approval; <br /> 11. ENTIRE AGREEMENT. This Agreement <br />constitutes the entire agreement between the Buyer and <br />Seller. The representations, warranties and agreements <br />in this Agreement shall survive the transfer of title. <br />There are no other conditions, representations, <br />warranties or agreements, express or implied. <br /> <br />2 <br /> <br /> <br />