i
<br /> 973 unpaid regular or special assessments against the Property except the current regular assessments and NIA.
<br /> 974 Association Assessments are subject to change as provided in the Governing Documents.
<br /> 975
<br /> 976 16.4. Other Prorations.Water and sewer charges, propane, interest on continuing loan and any
<br /> 977 rents due or pre paid on the existing USFS lease..
<br /> 978 16.5. Final Settlement. Unless otherwise agreed in writing, these prorations are final.
<br /> 979
<br /> 980
<br /> 981 17. POSSESSION. Possession of the Property will be delivered to Buyer on Possession Date at
<br /> 982 Possession Time, subject to the Leases as set forth in § 10.6.1.7.
<br /> 983
<br /> 984 If Seller, after Closing, fails to deliver possession as specified, Seller will be subject to eviction and will be
<br /> 985 9� P P j
<br /> 986 additionally liable to Buyer for payment of$ 200 per day(or any part of a day notwithstanding § 18.1)from
<br /> 987 Possession Date and Possession Time until possession is delivered.
<br /> 988
<br /> 989
<br /> 990 F GENERAL PROVISIONS
<br /> 991
<br /> 992
<br /> 993 18. DAY; COMPUTATION OF PERIOD OF DAYS, DEADLINE.
<br /> 994 18.1. Day.As used in this Contract,the term "day" means the entire day ending at 11:59 p.m., United
<br /> 995 States Mountain Time (Standard or Daylight Savings, as applicable).
<br /> 997 18.2. Computation of Period of Days, Deadline. In computing a period of days e. three days after
<br /> 997 P Y � p 9 P Y ( 9•� Y
<br /> 998 MEC), when the ending date is not specified, the first day is excluded and the last day is included. If any deadline
<br /> 999 falls on a Saturday, Sunday or federal or Colorado state holiday(Holiday), such deadline❑ Will ®Will Not be
<br /> 1000 extended to the next day that is not a Saturday, Sunday or Holiday. Should neither box be checked, the deadline
<br /> 100
<br /> 1002 will not be extended.
<br /> 1003
<br /> 1004 19. CAUSES OF LOSS, INSURANCE; DAMAGE TO INCLUSIONS AND SERVICES; CONDEMNATION;
<br /> 1005 AND WALK-THROUGH. Except as otherwise provided in this Contract, the Property, Inclusions or both will be
<br /> 1007 delivered in the condition existing as of the date of this Contract, ordinary wear and tear excepted.
<br /> 1007 9 rY P
<br /> 1008 19.1. Causes of Loss, Insurance. In the event the Property or Inclusions are damaged by fire, other
<br /> 1009 perils or causes of loss prior to Closing (Property Damage)in an amount of not more than ten percent of the total
<br /> 1010 Purchase Price and if the repair of the damage will be paid by insurance (other than the deductible to be paid by
<br /> 1012 Seller then Seller, upon receipt of the insurance proceeds,will use Seller's reasonable efforts to repair the
<br /> 1012 )� p p p p
<br /> 1013 Property before Closing Date. Buyer has the Right to Terminate under§25.1, on or before Closing Date, if the
<br /> 1014 Property is not repaired before Closing Date, or if the damage exceeds such sum. Should Buyer elect to carry out
<br /> 1015 this Contract despite such Property Damage, Buyer is entitled to a credit at Closing for all insurance proceeds that
<br /> 1016 were received b Seller but not the Association, if an resulting from damage to the Property and Inclusions, plus
<br /> 1017 Y ( Y) 9 9 P Y
<br /> i018 the amount of any deductible provided for in the insurance policy. This credit may not exceed the Purchase Price.
<br /> 1019 In the event Seller has not received the insurance proceeds prior to Closing, the parties may agree to extend the
<br /> 1020 Closing Date to have the Property repaired prior to Closing or, at the option of Buyer, (1)Seller must assign to
<br /> 1022 Buyer the right to the proceeds at Closing, f acceptable to Seller's insurance company and Buyer's lender; or 2
<br /> 1o2z Y 9 p 9� i p p Y Y ( )
<br /> 1023 the parties may enter into a written agreement prepared by the parties or their attorney requiring the Seller to
<br /> 1024 escrow at Closing from Seller's sale proceeds the amount Seller has received and will receive due to such
<br /> 1025 damage, not exceeding the total Purchase Price, plus the amount of any deductible that applies to the insurance
<br /> 1026 1027 claim.
<br /> 1028 19.2. Damage, Inclusions and Services. Should any Inclusion or service (including utilities and
<br /> 1029 communication services), system, component or fixture of the Property(collectively Service)(e.g., heating or
<br /> 1030 plumbing), fail or be damaged between the date of this Contract and Closing or possession, whichever is earlier,
<br /> 1032 then Seller is liable for the repair or replacement of such Inclusion or Service with a unit of similar size age and
<br /> 103 p p � g
<br /> 1033 quality, or an equivalent credit, but only to the extent that the maintenance or replacement of such Inclusion or
<br /> 1034 Service is not the responsibility of the Association, if any, less any insurance proceeds received by Buyer covering
<br /> 1035 such repair or replacement. If the failed or damaged Inclusion or Service is not repaired or replaced on or before
<br /> 1037 Closing or possession, whichever is earlier, Buyer has the Right to Terminate under 25.1, on or before Closing
<br /> 1037 g p Y 9 § 9
<br /> 1038 Date, or, at the option of Buyer, Buyer is entitled to a credit at Closing for the repair or replacement of such
<br /> 1039 Inclusion or Service. Such credit must not exceed the Purchase Price. If Buyer receives such a credit, Seller's right
<br /> 1041 for any claim against the Association, if any, will survive Closing.
<br /> 104 19.3. Condemnation. In the event Seller receives actual notice prior to Closing that a pending
<br /> 1042 p 9 p 9
<br /> 1043 condemnation action may result in a taking of all or part of the Property or Inclusions, Seller must promptly notify
<br /> 1044 Buyer, in writing, of such condemnation action. Buyer has the Right to Terminate under§25.1, on or before
<br /> 1045 Closing Date, based on such condemnation action, in Buyer's sole subjective discretion. Should Buyer elect to
<br /> 1047 consummate this Contract despite such diminution of value to the Property and Inclusions, Buyer is entitled to a
<br /> 1047 P p Y Y
<br /> 1048 credit at Closing for all condemnation proceeds awarded to Seller for the diminution in the value of the Property or
<br /> ' 1049 Inclusions but such credit will not include relocation benefits or expenses, or exceed the Purchase Price.
<br /> 1050 19.4. Walk-Through and Verification of Condition. Buyer, upon reasonable notice, has the right to walk
<br /> 1051 through the Property prior to Closing to verify that the physical condition of the Property and Inclusions complies
<br /> y 1o5z 9 P Y p 9 fY p Y • p Y p
<br /> ! 1053 with this Contract.
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