9021-18 Authorize purchase of Trinity Lutheran Church

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2.07. Expenses of Closing. The expenses of closing described in this Article shall be paid in the following manner: (a) The full cost of securing the title guarantee or Title Policy described in Paragraph 2.02(a) of this Agreement shall be paid by Seller. (b) The cost of preparing, executing, and acknowledging any deeds or other instruments required to convey title to Buyer or Buyer's nominees in the manner described in this Agreement shall be paid by Seller. (c) Any costs of transfer and recordation of title shall be paid by Buyer. (d) Any tax imposed on the conveyance of title to said property to Buyer or Buyer's nominee shall be paid by Buyer. (e) Any fee charged by the Escrow Agent in addition to the cost of title guarantee or title insurance required by this Agreement shall be paid by Seller and Buyer in equal proportions. 2.08. Security for Buyer's Performance. For the purpose of securing the performance of Buyer under the terms and provisions of this Agreement, Buyer has delivered to Escrow Agent the sum of $5,000.00, the down payment, which shall be paid to Seller in the event Buyer breaches this Agreement as provided in Paragraph 5.02 hereof. At closing, the down payment shall be paid over to the Seller and applied to the cash portion of the purchase price, provided, however, that in the event the Buyer shall have given written notice to the Escrow Agent that one or more of the conditions to its obligations set forth in Paragraph 2.02 have not been met, or, in the opinion of Buyer, cannot be satisfied in the manner and as provided for in this Agreement, the down payment shall be forthwith returned by the Escrow Agent to Buyer. 2.09. Time and Place of Closing. Closing shall be made to consummate the sale of the Property pursuant to this Agreement at the offices of the Escrow Agent, within 60 days after the date hereof, unless extended by mutual agreement of the parties, provided, however, closing shall not occur after December 31, 2018. 2.10 As -Is Conveyance. Buyer agrees that, upon the closing, Buyer shall be deemed to have accepted the property in its then existing condition, "as is, where is and with all faults" without representation or warranty of any kind or nature by Seller except as expressly set forth in this agreement or the transfer documents. ARTICLE 3. REPRESENTATIONS AND WARRANTIES OF SELLER 3.01. Warranties of Seller. Seller hereby represents and warrants to Buyer as follows: (a) There are no parties in possession of any part of said property as lessees, tenants at sufferance, or trespassers; (7632204:2 )