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2020 062 RESOLUTION
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2020 062 RESOLUTION
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Last modified
3/2/2023 12:40:35 PM
Creation date
3/2/2023 10:50:09 AM
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Legislation-Meeting Minutes
Document Type
Resolution
Number
2020 062
Date
12/21/2020
Year
2020
Title
6488 WHITE ROAD
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10. COMPLIANCE CERTIFICATES: Any obligation of Seller to obtain a compliance certificate relating to the <br />Property (such as a certification relating to smoke detectors) shall not apply in the event the Property is not in <br />habitable condition, unless otherwise required by law. <br />11. TERMITES/WOOD DESTROYING INSECTS: Notwithstanding any provision to the contrary in the Contract of <br />Sale, Seller shall not be required to repair or treat any damage caused by termites or other wood destroying <br />insects unless Seller specifically agrees to do so as indicated below. <br />a. ( 0 ) Seller shall not repair or treat any such damage caused by termites or wood destroying insects. <br />b. (❑ ) Seller agrees to limited repairs and/or treatment of damage caused by termites or other wood <br />destroying insects. <br />THE PARTIES AGREE THAT THE COST TO SELLER FOR SUCH REPAIRS AND/OR TREATMENTS SHALL <br />NOT EXCEED $ 0.00 . If the cost for any such repairs exceeds such amount, then <br />(i) Purchaser shall be responsible for the cost and expense of any amounts exceeding such termite repair <br />limit, or (ii) Seller shall have the right to cancel the Contract of Sale and the deposit paid by Purchaser shall be <br />returned to Purchaser. <br />12. REPAIRS: Seller's responsibility for any repairs required by Purchaser's prospective lender shall not exceed <br />$ 0.00 . If the cost for any such repairs exceeds such amount, then (i) Purchaser shall be responsible for <br />the cost and expense of any amounts exceeding such repair limit, or (ii) Seller shall have the right to cancel the <br />Contract of Sale and return the deposit paid by Purchaser. PURCHASER SHALL NOT HAVE THE RIGHT TO <br />MAKE ANY REPAIRS TO THE PROPERTY PRIOR TO CLOSING <br />13. INDEMNIFICATION: Purchaser agrees to indemnify Seller and fully protect, defend and hold Seller, its tenants, <br />agents, employees and contractors, harmless from and against any and all claims, costs, liens, loss, damages, <br />attorney's fees and expenses of every kind and nature that may be sustained by or made against Seller or any <br />damage to the Property of any adjoining property, or any injury to Purchaser or any other persons that may <br />result from or arise out of inspections made by Purchaser or its agents, employees and contractors prior to <br />closing. <br />14. FINANCING AND PAYMENT AT CLOSING: The type of financing shall be as follows (check paragraph a or b <br />below as applicable): <br />a. (❑) Purchaser shall apply for financing from a third party financial institution in the form of a first <br />mortgage secured by the Property in the amount of $ . Purchaser agrees to accept a prevailing rate <br />of interest at the time of closing. Also check one of the following as applicable: <br />(❑) Conventional, (❑) FHA, (❑) VA ( ❑ ) Other: <br />b. ( © ) Purchaser shall not use any third -party financing to purchase the Property. Purchaser agrees that it <br />will wire the closing funds from a United States regulated financial institution authorized to engage in <br />banking activities within the United States or provide a cashier's check drawn on a United States regulated <br />financial institution authorized to engage in banking activities within the United States. Funds from any third <br />parties will not be accepted by the Closing Agent nor will hard currency of any kind. If there is an <br />underestimation of the amount necessary to close, the Purchaser may pay the difference using a personal <br />check for no more than $500.00. <br />CW Seller's Initials <br />Buyer's Initials <br />HomeSteps Addendum #1 to Contract of Sale <br />Version May 2018 <br />Page 5 of 10 <br />
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