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LL .. ,_.. <br />• ,.~.. <br />5. EVIDENCE AND GUARANTY OF TITLE <br />~~, <br />Seller shall deposit into escrow a Warranty Deed <br />conveying to the Buyer a good and marketable title to the <br />property, free and clear of all liens and encumbrances <br />whatsoever, except: (a) any restrictions, reservations or <br />easements of record, (b) any encroachments not affecting the use <br />or value of the property, (c) zoning ordinances, if any, and (d) <br />and taxes and assessments, both general and special, for the <br />current half of the taxable year and thereafter. <br />Seller shall also furnish the Buyer with a Title <br />Guaranty Policy of title insurance in the full amount of the <br />purchase price as evidence that there has been conveyed to the <br />Buyer a good and marketable title to the property, subject only <br />to the exceptions stated above. The Parties agree that all title <br />services required under the terms of this Purchase Agreement <br />shall be furnished by Haverfield Title Agency, Inc., 21851 <br />Center Ridge Road, Rocky River, OH 44116. <br />6. CLOSING COSTS <br />Upon receipt of all funds and documents necessary <br />to complete this transaction, the escrow agent shall proceed to <br />close this transaction as follows: all real estate taxes and <br />assessments shall be prorated between the parties as of the date <br />of transfer of title based on the latest available tax <br />duplicate. The escrow agent shall charge to the Seller out of <br />the funds standing to the credit of the Seller in escrow, the <br />following: (a) the real estate transfer tax, <br />(b) the cost of the title examination and the <br />premium for the Title Guaranty, <br />-3- <br />