9069-19 Cove Church Purchase - Laserfiche WebLink

Home Browse Search

(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 within thirty (30) days of the effective date of this Agreement. 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. Notwithstanding the foregoing, Buyer intends to waive any due diligence period and contingencies upon execution of this Agreement and proceed to closing forthwith if Buyer's due diligence has been completed prior thereto. 2.03. Failure of Conditions. Should any of the conditions specified in Paragraph 2.02 of this Agreement fail to occur within thirty (30) days after the effective date of this Agreement, Buyer shall have the power, exercisable by giving 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 it 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 and assessments levied or assessed against said property as shown on the latest available tax bills, if any. 2.05. [Intentionally deleted.] 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 engaged any brokers in connection with Seller's interest in the property, except Alex Russo, Cushman & Wakefield /CRESCO Real Estate, 3 Summit Park, Suite 200, Cleveland, Ohio 44131. Buyer represents and warrants to Seller that Buyer has not engaged any brokers in connection with Buyer's interest in the property. 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 Buyer.