2003 013 Ordinance - Laserfiche WebLink

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(v) The cost of the location service or survey, including surveying and preparing the legal description; (vi) The cost of any special tax search; (vii) The cost of any Owner's Policy of Title Insurance if Buyer elects to have the same; (viii) The costs incident to filing the deed and any mortgage(s) placed upon the property; (ix) The costs incident to the obtaining of financing, if any; and (x) The escrow fee. B. Seiler. Seller shall be charged with the following costs, to be deducted by the escrow agent prior to transfer of title: (i) The costs of satisfying any taxes, assessments, liens or encumbrances required to be discharged by this Agreement. C. Other Charges. Taxes and assessments, both general and special, shall be prorated by the escrow agent as of the date of transfer based on the last available tax duplicate. 12. TIME IS OF THE ESSENCE. Time is of the essence of this contract. If Buyer shall default in the performance of any of the obligations imposed on Buyer by this Agreement, the Seller, by written notice to Buyer, (a) may elect to terminate said agreement, or (b) may pursue any and all of its legal or equitable remedies. If Seller shall default in the performance of any of the obligations imposed on Seller by this Agreement, the Buyer may elect (a) to terminate this Agreement by written notice thereof to Seller, or (b) to pursue any legal or equitable remedy. If the Buyer or Seller elect to terminate pursuant to this paragraph, the escrow agent and/or the Seller shall deliver any funds or documents placed with them, as provided hereunder, and both parties shall be released from any further obligations and liability except as provided above. 13. NOTICES. Service of all demands, notices or other papers with respect to such termination and retention of payments, or otherwise, may be made by registered mail at the following address: Joseph W. Diemert, Jr., Director of Law, 1360 S.O.M. Center Road, Cleveland, Ohio 44124, or at such other address as Buyer will indicate in writing to Seller. 14. STATE LAW. This Purchase Agreement shall be interpreted and governed in accordance with the laws of the State of Ohio. 15. AMENDMENTS. This Purchase Agreement shall not be modified or amended except by 4