2012-031 Resolution - Laserfiche WebLink

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a. Terminate this Agreement by notice given to the Seller; thereby releasing both Purchaser and Selter frorn any fu.rther obligation or liability under this Agreement; b. Elect to accept title and a title insurance policy subject to the exceptions, without any abatement of the Purchase Price. The premiuxn for the Purchaser's titie insurance policy, to be issued by the title company will be paid by the Purchaser. The Purchaser also wi11 pay any additional premium or charge required by fihe title company to remove standard exceptions, exceptions relating to mechanic's liens and any other exceptions that the Purchaser elects to remove by making fhe payment. 8. CLOSING. The Closing shall occur on or before May l, 2012, unless such Closing is advanced to an earlier date or extended to a later date by mutual written consent o£ the parties hereto, or otherwise extended pursuant to the terms hereof (the "Closing Date"). At Closing, Seller shall execute and deliver ta Purchaser a General Warranty Deed duly executed and in proper form for recording, conveying fee.simple title to the Premises, subject only to exceptions agreed to by Purchaser ("Permitted Exceptions"). Title to the Premises will not only be good and marketable, but a.lso will be insurable by Purchaser's title insurance coznpany, at its xegular rates, without liens, encumbrances, easements, exceptions or reservations of any type or kind, except those items which are Permitted Exceptions as listed on Exhibit B to this Agreement and the "as is" condition of the Premises. 9. CLOSING DOCUMENTS. At the Closing, the Seller shall deliver to the Purchaser the following, each dacument mentioned here to be in form and substance satisfactory to the Purchaser and its counsel: a. A good and sufficient General Warraniy Deed containing all customary covenants, so as to convey to the Purchaser, or its nominee, good, marketable and insurable fee simple absoiute title to the Premises, free of a11 liens and encumbxances other than Permitted Exceptions listed on Exhibit B. The Deed will be in recordable form, duly executed.and acknowledged.. The Purchaser sha11 authorize the preparation of such Deed by and thxough the Escrow Agent and/or title company and such expense sha11 be borne by the Purchaser. b. An affidavit with respect to mechanic's Iiens certifyuig t.hat there are no unpaid bills for services rendered or materials furnished to the Premises. 10. PRORATIUNS & CLOSIlVG COSTS. Real estate taxes, assessments, gas, electric, water, and sewerage charges shall be pro- rated as of the date of Closing; Seller to pay all the above said costs and charges attribntable to its ownership period and Purchaser to pay said costs an.d charges thereafter. Seller shall obtain final rneter readings for all utilities and pay the bills for such periods of its ownership. Real estate