2012-031 Resolution - Laserfiche WebLink

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taxes and assessments pro-ration shall be based upon the most current ta.x bills available and shall not be recomputed subsequent to Closing notwithstanding an increase or decrease in sach taxes or assessments. The expenses of closing described in this paragraph shall be paid in the follawing manner: a. The cost of preparing, executing, and acknowledging any deeds or other instrutnents required to convey title ta Purchaser in the manner described in this Agreement shall be paid by Purchaser. b. Any costs of transfer and recordation of title shail be paid by Purchaser. c. Any tax imposed on the conveyance of title to said Pxemises to Purchaser or his nominee shall be paid by Purchaser. d, Arxy fee charged by the title insurance company in addition to the cost of title guarantee or.title insurance required by this Agreement shall be paid by Purchaser. e. Seller agrees to withholding of $5,000.00 to be retained by escrow agent and subject to terms and conditions of Lease Agreement, to wit, forfeiture of funds in th.e event that possession of the Premises is not timely surrendered by Seller to Purchaser. 12. POSSESSION & WANER OF RELOCATION COSTS. Purchaser agrees to permit Seller to remain in possession of the Premises after the ciosing and transfer of tatle herein, subject to the tenms and conditions of a Lease Agreement, and conditioned upon timely relinquishment of possession on or before March 1, 2013. Possession of the Premises shall not be delzvered by Seller to Purchaser immediately on Closing, free and clear of.all uses arld occupancies. After the Closing date and transfer of title to Purchaser, possession of the 1'remises shall be governed by the parties' Residential Lease Agreement. In lieu of Purchaser being obligated to reimburse Seller for any and all reasonable relocation expenses or displacement costs authorized by law, Seller has accepted a substantial increase in the sale Price in a.n amount over $35,000.00 as a lump sum payment in fuli and complete satisfaction thereof. Seller agrees ta accept the Price as consideration of Purchaser's full and complete satisfaction of any and all statutory rights for reimbursement of relocation costs and/or displacement claims otherwise authorized by law. Seller has agreed to accept the purchase Price, which is over $70,000.00 over the appraised value in fu11 satisfaction of all constitutional and statutozy rights to just compensation far taking of property. Purchaser sha11 not be required to accept and Seller hereby relinquishes all right to make application for relocation costs, as such costs may be anticipated or incurred by Seller, because the Price has been so inflated to compensate Seller for sucli rights. Seller hereby waives and releases the City upon acceptance of such payment of the Price of any and all further xight to reimbursement of relocatiori costs or claim for displacement expenses. Seller shall timely surrender possession of premises on or before Maxch 1, 2013, subject to forfeiture of escrowed fnnds to Purchaser in the amount of $5,000.00 in the event that possession of the prennises is not timely surrendered. 13. SELLER'S COVENANTS. 4