9080-19 18100 Detroit Purchase - Laserfiche WebLink

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items set forth in Article 3 and all other items set forth in this Contract; (ii) If applicable, a bill of sale that conveys improvements to property; (iii) Evidence reasonably satisfactory to Purchaser and Title Company that the person or persons executing the closing documents on behalf of Seller have the full right, power and authority to do so; (iv) Affidavit of title; (v) Physical and legal possession of the Premises. (vi) Any documents Seller is required to execute by the terms of this Contract or to consummate Closing including an Easement for Development and Maintenance Agreement. (b) The sale and purchase of the Premises shall be closed by Title Company in accordance with the general provisions of the usual form of Deed and Money Escrow Agreement conforming to the terms of this Contract. Closing and settlement shall take place at the office of the Title Company; with the parties contemplating an escrowed closing. The cost of recording the documents called for in this Contract shall be paid for by Purchaser. All current real estate taxes and assessments are to be pro -rated to the date of Closing and if the amount of such taxes is not ascertainable, the pro- rating shall be on the basis of the amount of the most recent ascertainable taxes. Seller covenants to pay the taxes prior to the date they are due. All state and county transfer and conveyance and or documentary stamps shall be paid by Seller. All local or city transfer stamps shall be paid by Purchaser. The costs of the escrow shall be divided equally between Seller and Purchaser. 6. CONTINGENCY PERIOD; CONDITIONS PRECEDENT: 6.1 Purchaser. Purchaser's obligation to close this transaction is contingent upon Purchaser obtaining to Purchaser's satisfaction and at Purchaser's sole expense, inspection report(s) of the Premises (the "Inspections "). The Inspections may include the Premises' components, systems, elements, soil condition, a title report, which indicates that no restrictions of record interfere with Purchaser's intended use and which indicates that Purchaser will be able to obtain title insurance acceptable to Purchaser, survey, environmental condition, zoning confirmation and availability and sufficiency of utility lines and such other test and feasibility studies Purchaser deems reasonably necessary and advisable including all necessary City Council approvals and the execution prior to closing of a mutual cross - access and parking easement (referred to herein as the "Conditions Precedent "); provided, however, obtaining a building permit and any necessary ODOT curb cuts shall not be Conditions Precedent. Seller agrees to grant Purchaser reasonable access to the Premises to conduct the Inspections. Purchaser represents that it has adequate insurance covering claims, demands,