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<br />(ii) The cost of any conveyance fees and/or real estate transfer taxes applicable to <br />the property; <br />(ii) Preparation of the deed; <br />(iii) The amount of any prorations due Buyer under this Agreement; <br />(iv) The cost of any lot split, the location service or survey, including surveying and <br />preparing the legal description; <br />(v) The cost of any special tax search; <br />(vi) The cost of any Owner's Policy of Title Insurance if Buyer elects to have the <br />same; <br />(vii) The costs incident to filing the deed and any mortgage(s) placed upon the <br />property; <br />(viii) The costs incident to the obtaining of financing, if any; and <br />(ix) The escrow fee. <br />B. Seller. Seller shall be charged with the following costs, to be deducted by the escrow <br />agent prior to transfer of title: <br />(i) The costs of satisfying any taxes, assessments, liens or encumbrances <br />required to be discharged by this Agreement. . <br />C. Other Charges. Taxes and assessments, both general and special, shall be prorated by <br />the Escrow Agent as of the date of the closing of the sale of this Parcel 2 on May 1, 2004, based on the <br />last available tax duplicate. <br />11. TIME IS OF THE ESSENCE. Time is of the essence of this contract. If Buyer shall default <br />in the performance of any of the obligations imposed on Buyer by this Agreement, the Seller, by written <br />notice to Buyer, (a) may elect to terminate said agreement, or (b) may pursue any and all of its legal or <br />equitable remedies. If Seller shall default in the performance of any of the obligations imposed on Seller <br />by this Agreement, the Buyer may elect (a) to terminate this Agreement by written notice thereof to Seller, <br />or (b) to pursue any legal or equitable remedy. If the Buyer or Seller elect to terminate pursuant to this <br />paragraph, the escrow agent and/or the Seller shall deliver any funds or documents placed with them, as <br />provided hereunder, and both parties shall be released from any further obligations and liability except as <br />provided above. <br />12. NOTICES. Service of all demands, notices or other papers with respect to such termination <br />and retention of payments, or otherwise, may be made by registered mail at the following address: to the <br />3