2025-009 Ordinance - Laserfiche WebLink

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the last available lax duplicate) and reflected on a settlement statement prepared by the Escrow Agent. Such proration shall be final. Of The Escrow Agent shall record the Decd in the real estate records ol'the Fiscal Officer's office. 5.4 Possession. Seller shall deliver possession of the Properly in its present condition, sub to normal wear and tear. 5.5 Tilts Defects. During the Inspection Period (as defined herein), Purchaser shall have the right to object to any matters se( forth in thc'I'itic Commitment and the Survey. Purchaser shall give Seller written notice (the "Objection Notice") ol'any such matter set Ibrth in the Title Commitment or Survey to which Purchaser objects (each a "'Title Defect") prior to the expiration ol'the Inspection Period. Any matter not objected to by Purchaser within such Inspection Period for which Purchaser waives fbilowing the Objection Notice) shall he deemed to be approved by Purchaser and included as a Permitted f nl'nmbrance. If purchaser delivers to Seller an Objection Notice siveil'ying a Title Dclect within the Inspection Period, Seller shall, within tell (10) days alter the receipt ofthe Objection Notice. notify Purchaser in writing (the "Seller's Notice") which ol'such Title Defects shall be cured by Seller prior to or al Closing; provided, however that Seller shall only be obligated to cure any such Title Deject which either was caused by Seller's actions after execution ol'this Agreement or is a lien or encumbrance that can be removed by the payment of a sum certain (unless caused by Purchaser). Within five (5) days aller receipt ol'the Seller's Notice, Purchaser, as its sole and exclusive remedy, shall notify Seller in writing of Purchaser's election to either (i) accept title to the Property subject to (he Title Detecls Seller is not obligated for has not otherwise elected) to cure, without an abatement or reduction ol'the Purchase Price in accordance with the terms ol'this Agreement, or (ii) terminate this Agreement. If Purchaser elects to terminate this Agreement, all documents deposited into escrow shall be returned to the party who delivered or deposited the same the Earnest Money shall be paid to purchaser, and thereupon the panics shall be released Tram any further obligations hereunder each to the other, except that Purchaser shall pay all the expenses 01' the Escrow Agent and the "Title Company, if' any. 11' Purchaser docs mil elect to terminatc, or fails to make a written election, within the live (5) of period following Seller's Notice, Purchaser shall be deemed to have Irm: to accept I title art the Properly, subject to all ']'life Delcets which shall thereafter he of have ed toPermitted cepFneumle to e without an abatement or reduction of (he Purchase Price and the Earnest Money shall become nonrcllmdable. RISK OF LOSS 6.1 Risk of Loss. Risk of loss to the property or any pmt thereof "shall remain on Seller until the Closing. 7. REPRESENTATIONS AND WARRANTIES 7.1 Seller's Rc resenlations. Seller represents, warrants and agrees as Billows: (a) 1'0 Seller's actual knowledge, the Properly is subject to no options or agrcemcnts regarding the transfer of title to the Property and Seller has received no written notice of any legal or governmental action, litigation, or pending or threatened