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7. Purchaser hereby acknowledges that he has examined the <br />property and accepts it in an "as is" condition, and that there are no <br />representations or warranties made by either party other than what is contained in <br />this document. Any representations herein shall survive the filing of the deed for <br />record. No modification of this Agreement may be made unless in writing signed <br />by both parties. <br />~ 8. Upon receipt of the purchase price to be paid by Purchaser, and <br />upon receipt of any other documents required by the escrow agent, this <br />transaction may be consummated. The escrow fee shall be divided equally <br />between Sellers and Buyer. All documents and funds pertaining to this <br />conveyance are to be placed in escrow with Purchaser's choice within sixty-five <br />(65) days from the date of acceptance hereof. Upon receipt of the above items, <br />consummation of the transaction shall be effected and the escrow agent is <br />thereby authorized to close this transaction. <br />9. Time is of the essence of this contract. In the event Purchaser <br />fails to make any payment of the purchase price promptly when the same shall <br />become due as herein specified, or_promptly to perform any covenant or <br />agreement herein contained, Sellers may elect to specifically enforce this <br />Agreement or to terminate this Agreement and retain as liquidated damages any <br />payments therefore made hereunder by Purchaser; provided that if such <br />payments are inadequate to compensate Sellers for their damages, or no <br />payments have been made, Sellers may exercise their right to sue for damages <br />for Purchaser's default. Service of all demands, notices or other papers with <br />