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any additional information and documents required by Closing Company that will be necessary to <br />complete this transaction. Buyer and Seller will sign and complete all customary or reasonably required <br />documents at or before Closing. Delivery of deed from Seller to Buyer will be at closing (Closing). Closing <br />will be on the date specified by mutual agreement. <br />Subject to tender of payment at Closing as required herein and compliance by Buyer with the other <br />terms and provisions hereof, Seller must execute and deliver a good and sufficient general warranty <br />deed to Buyer, at Closing, conveying the Property free and clear of all taxes except the general taxes for <br />the year of Closing. <br />GENERAL PROVISIONS <br />Except as otherwise provided in this Contract, the Property, Inclusions or both will be delivered in the <br />condition existing as of the date of this Contract, ordinary wear and tear excepted. In the event the <br />Property or Inclusions are damaged by fire, other perils or causes of loss prior to Closing in an amount of <br />not more than ten percent of the total Purchase Price (Property Damage), Seller is obligated to repair <br />the same before Closing. Buyer has the Rightto Terminate on or before Closing if the Property Damage <br />is not repaired before Closing or if the damage exceeds such sum. <br />In the event Seller receives actual notice prior to Closing that a pending condemnation action may <br />result in a taking of all or part of the Property or Inclusions, Seller must promptly notify Buyer, in writing, <br />of such condemnation action. Buyer has the Right to Terminate on or before Closing based on such <br />condemnation action, in Buyer's sole subjective discretion. <br />By signing this Contract, Buyer and Seller acknowledge that they are advised that this Contract has <br />important legal consequences and has recommended the examination of title and consultation with <br />legal and tax or other counsel before signing this Contract. <br />TJ me is of the essence hereof_ if any note or check received as Earnest Money hereunder or any other <br />payment due hereunder is not paid, honored or tendered when due, o hereunder is <br />not performed or waived as herein provided, the non -defaulting party has the fallowing <br />If Buyer is in Default Seller may elect to treat this Contract as canceled, in which case all Earnest Money <br />whether or not paid by Buyer) will be paid to Seller and retained <br />acyt as �cirrg � full fod Seller rce and effect and <br />ay recover such <br />damages as may be proper; or Seller may elect to treat t <br />Seller has the right to specific performance or damages, or both. <br />If Seller is in Default: Buyer may elect to treat this Contract as canceled, in which case all Earnest Mo <br />yeey <br />Buyer received hereunder will be returned and Buyer may recover such damages as may e proper, <br />may elect to treat this Contract as being in full force and effect and Buyer has the right to specific <br />performance or damages, or both. <br />Anything to the contrary herein notwithstanding, in the event of any arbitration or litigation relating to <br />this Contract, prior to or after Closing the arbitrator or court may award to the prevailing party all <br />reasonable costs and expenses, including attorney fees, legal fees and expenses. <br />6 <br />