2007 002 Ordinance - Laserfiche WebLink

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Seller shall immediately notify Buyer thereof and furnish to Buyer a written statement of the amount of insurance, if any, payable on account thereof. Substantial damage is any damage costing in excess of Ten Thousand dollars ($10,000.00) to repair. Within thirty (30) days after receipt of notice of any such substantial damage or destruction and the written statement of insurance payable on account thereof, Seller shall commence repairs to the Premises. 6. MARKETABLE TITLE. Seller shall convey to Buyer marketable title at the close of escrow, free of all encumbrances, covenants, and restrictions except for such utility easements and rights of way of record as described in the Title section, infra. 7. AS IS. Buyer hereby acknowledges that it has examined the property and accepts it in as an "as is" condition, and there are no representations or warranties made by either party other than what is contained in this document. Any representations herein shall survive the filing of the deed for record. No modification of this Agreement maybe made unless in writing and signed by both parties. 8. ESCROW PROCEDURE. All documents and funds and/or financial commitments for funds necessary to complete this transaction shall be placed in escrow with the Surety Title Company in sufficient time to permit transfer of title on the date set forth for closing. This Agreement shall be considered by the escrow agent as escrow instructions, but shall be subject to the escrow agent's standard conditions of escrow acceptance where not inconsistent herewith, and which conditions of escrow shall be made a part hereof and incorporated herein by reference. 9. CLOSING & TITLE TRANSFER. The Closing will occur and Title will transfer to Buyer by the recording of the deed, on or about thirty (30) days from the date -3-