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the described installments, and (iij even if all of the conditions precedent
<br />described in Section 11 have not been satisfied. To the extent that instaltmerrts
<br />of the Purchase Price are paid to Seller prior to Closing, thg Seller will execute 8
<br />MortgagQ Deed to the Euyerto secure repayn~nt of the advanced payments in
<br />the event tha± Closing does not accur_ Seller steal! be required to provide to
<br />Buyer, prier to remmen~ment of the payments described in Section 2A.,
<br />evidence of the saiisfacii:.+r! of the condi#ion precedent described in Section 1 '! B.
<br />E. In the event chef ±he Closing dace not ecctrr hereunder (other than
<br />as a result of @uyer's t:re3ch of or failure to perform this Agreement, Seller will
<br />repay to Buyer any advanced papn~ts of the Purchase Price made by the
<br />Buyer, within riraty (90~ days after Seller's notice to the Buyer that the conditions
<br />precedent to the Se{!er's ebTiga#ions herE_~nder have rat been satisfied. If
<br />closing doss not occur (ether than. as a result of Buyer's breach of or failure to
<br />perform this Agreement), Seller will pay interest nn such advanced payments at a
<br />rate per annum equal to the interest rate.for a thirty (30} year United States
<br />Treasury 13orad_ Such interest rate, if appiicaia{e, shad be deterrtrined, and
<br />adju$ted, as of each January 'l, April 1, Ju{y 1 and October 9 during the period
<br />#rom the da#e of each advanced payment through the date flf Seller's repayment
<br />therEfore.
<br />F. Suyer shall pay the frst installment of the Purchase Price upon
<br />the facer of !i) October 31;'1969, or (ii) the date which is 34 dove after passage v#
<br />the' enabling ordinance by Buyer's Council far this Agreement; provided,
<br />however, the fast instaflmen# of the Purchase Price must be paid prior to
<br />November 5, 1959. S,~~.a~0 cs,~•so ~'~°''"3 ~1 ~ ~ ~ ~.(k, ,a:~~ ~_~~ ~~ ~`.
<br />,~~. Ems` Lu:9~iw..f Lt.~-~ /~~~ ,rte -e~no.~.~-~ru~,~ .~ c '~~'` ,~c~r.%~~ 4
<br />3. Escrow Agent. Cantinenfaf Title Agency Corp., 605 Bond Court, _
<br />Cleveland Ohio ~4'f 14, shall serve as the. escrow agent {the °Escrow AgenY') ~~ ~~ ~7
<br />hereunder. This Agreement, together with the Escrow Agent's Standard Conditions of ~~~~ ~~-~'
<br />Acceptance of Escrow, shall serve as escrow instructions, provided, however, that this ~~:~~ ~ ~
<br />Agreement shalt govern in the event of any conflict between said Standard Conditions ~ G~;,~,,~,~L i
<br />_. and any of the terms hereof. _ f 4~~?
<br />4. Title Gommitment~fle Insurance. Seller shall promptly, but in no event ' $°
<br />later than twenty (~ days following the parties' full and complete execution of this ~ ,~
<br />Agreement, oausa Commariweafih Land TIt1e Insurance Company, through its agent, ~;~
<br />Continentar Title Agency Corp. {the °Tftte Company, to prepare and deliver to Buyer a
<br />written commitment ~>ie `Titlb Cvmmifinent'7 to issue an ALTA flv~rner's Pflticy of Titre
<br />insurance (the "Titre P4Ticy~ With rrxtended coverage in the amount of the Purchase
<br />PrrCe, insuring that, as of closing, titre to the Property wilt be vested in Buyer, free and
<br />clear of air liens and encumbrances except the Rermitted Exceptions (defined below).
<br />Buyer shalt have fifteen (t5) days foaowtng receipt of the Title Oommitment to notify
<br />Seger and the Escrow Agent {n writing of any easements, conditions, restrictions,
<br />covenants, reservations, f'rmitations, rights of way, encroachments.ororher matters
<br />disclosed In the True Conmritmerrtwhich are objectronabie to Bayer, if any (a `t?efect"),
<br />save arrrt exceptti~fotfowirrg
<br />la-. zoning ordinances;
<br />}
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