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6. Condition. The Premises is being sold AS IS — WHERE IS without representation or <br />warranty, express or implied. Purchaser acknowledges that Purchaser will conduct or has <br />conducted its own inspection of the Premises and is relying solely upon such inspection to <br />determine the condition of the Premises. <br />7. Taxes and Assessments. Seller and Purchaser shall be responsible for paying, respectively, <br />their pro -rata share of real estate taxes based on the Closing based on a 365 day year and, if <br />undetermined, on most recently available tax rate and valuation. Seller shall pay any delinquent <br />taxes, including penalty and interest, and any assessments which are a lien on the date of <br />Closing. Unless credited against the Purchase Price at the Closing, the party receiving any such <br />real estate tax bills shall make timely payment thereof or be responsible for all penalties and <br />interest, and the other party shall, upon notice, promptly contribute its pro -rata share so as to <br />allow such timely payment or it instead will be responsible for any penalties and interest. It is <br />the intention of parties in making tax proration to allow Purchaser a credit as close in amount as <br />possible to amount which Purchaser will be required to remit to County Treasurer for period of <br />time through date of closing. Purchaser shall be solely responsible for paying for any increase in <br />real estate taxes caused by or relating to Purchasers change in the use of the Premises after the <br />date of Closing. Seller shall pay all excise or transfer taxes relating to the sale of the Premises, <br />and Buyer shall pay all recording fees relating to placing the deed of record. <br />8. Utilities. Seller shall pay all accrued utility bills to the date of Closing or the date of <br />delivery of possession to Purchaser, whichever is later. Purchaser shall aiTange for and pay for <br />all utility services from and after the date of Closing or delivery of possession, whichever is later. <br />9. Closing Costs. If the Purchaser elects to have an attorney or title company close this <br />transaction, the Purchaser will pay the Closing fee and costs associated therewith; survey, title <br />insurance premium, and the cost of recording the deed. Seller shall pay for documentary stamps <br />or any other transfer taxes required in connection with filing of the deed. Each party will pay the <br />cost of its own legal counsel incurred in connection with this transaction. <br />10. Title Examination. Purchaser shall be responsible for conducting and paying for such <br />examination of the title to the Premises as Purchaser deems appropriate. If Purchaser determines <br />that title to the Premises is not marketable and free from encumbrances (determined in <br />accordance with the title examination standards of the Colorado State Bar Association) except <br />public highways, easements, covenants, conditions, restrictions and reservations whether or not <br />of record as of the date of the Contract, and zoning and other governmental regulations and <br />restrictions, and non -delinquent real estate taxes and assessments, and to such state of facts as an <br />accurate survey and inspection of the Premises shall reveal, then Purchaser shall notify Seller <br />within thirty (30) days of the date of execution of this Contract, specifying such title matters to <br />which Purchaser objects. If Purchaser fails to notify Seller within such thirty (30) day period of <br />any objections to title, then Purchaser shall be deemed to have elected to waive any such <br />Doc #192515.v2 Date: 7111103 2:23 PM 2 <br />TR -69 A14-5-53 <br />12/16 <br />