9021-18 Authorize purchase of Trinity Lutheran Church

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(b) Delivery of Possession. Delivery of possession of said property to Buyer or Buyer's nominee, immediately on closing, free and clear of all uses and occupancies except as Buyer may waive in writing. (c) Inspection of Property. Buyer satisfactorily completing a diligent inspection of the property and satisfying itself as to the feasibility of the property for its intended use. Buyer's inspection may include, without limitation, tests of the subsurface soil conditions of the property, boundary surveys, engineering reports, feasibility studies, and environmental inspections. Buyer and Buyer's agents shall have access to the property for such inspections. 2.03. Failure of Conditions. Should any of the conditions specified in Paragraph 2.02 of this Agreement fail to occur within 45 days after the opening of escrow as provided in Paragraph 2.01 of this Agreement, Buyer shall have the power, exercisable by the giving by Buyer of written notice to the Escrow Agent and to Seller, to cancel such escrow, terminate this Agreement, and recover any amounts paid by Buyer to Seller or to the Escrow Agent on account of the purchase price of said property. The exercise of such power by Buyer shall not, however, constitute a waiver by Buyer of any other rights he may have against Seller for breach of this Agreement. The Escrow Agent shall be, and is hereby, irrevocably instructed by Seller on such failure of conditions and receipt of such notice from Buyer to refund immediately to Buyer all moneys and instruments deposited by Buyer in escrow pursuant to this Agreement. 2.04. Prorations. There shall be prorated between Seller and Buyer on the basis of 30 -day months, as of midnight on the day of closing: (a) Real property taxes levied or assessed against said property as shown on the latest available tax bills. (b) Premiums on insurance policies acceptable to Buyer insuring the improvements and buildings on said property against damage or destruction by fire, theft, or the elements. (c) Utility charges through the date of delivery of possession. Seller shall cause utilities to be read as of the date of delivery of possession. All rents and operating expenses associated with the property shall be prorated as of the date of possession. 2.05. Bonds and Assessments. Any bonds or improvement assessments, both general and special, which are liens on said property shall, at closing be paid by Seller. 2.06. Brokers' Commissions. Any and all commissions due to real estate or other brokers as a result of this sale of said property shall be paid by Seller. Seller represents and warrants to Buyer that Seller has not engaged any brokers in connection with Seller's interest in the property, except Ryan Fisher and Katie Watts of Colliers International. Buyer represents and warrants to Seller that Buyer has not engaged any brokers in connection with Buyer's interest in the property. {7632204:2 } 2