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continuing loan(s), if any, shall be prorated to the date of <br />' closing. Any sales, use and transfer tax that may accrue because <br />of this transaction shall be paid by Purchaser. <br />13. Possession. Possession of the Property and Inclusions <br />' (if any) shall be delivered to Purchaser on date of closing by <br />delivery of deed and shall not be subject to any leases or <br />tenancies whatsoever. If Seller fails to deliver possession as <br />specified herein, Seller shall be subject to eviction and shall be <br />'- additionally liable to Purchaser for payment of Ten Dollars <br />($10.00) per day from the date of agreed possession until <br />' possession is delivered. <br />14. Condition of and Damage to Property. It is understood <br />that Purchaser intends to demolish or remove the existing <br />' improvements on the Property and has no intent of using such <br />improvements for any other purpose. Seller makes no warranty, <br />express implied, as to the quantity, fitness, habitability, value, <br />' usefulness, or condition of the improvements, and such improvements <br />are accepted by Purchaser "AS IS". Purchaser assumes all risk of <br />injury or damage to person or property arising out of the use, if <br />' any, of the improvements and all costs and expenses incident to the <br />destruction, demolition or removal of the improvements as of the <br />time of closing. <br />t Damage by fire or other casualty prior to the time of closing <br />shall not be grounds for termination or modification of this <br />contract. In the event of such damage prior to closing, Seller <br />' shall be entitled to credit for all the insurance proceeds, if any, <br />resulting from damage to the Inclusions and Purchaser shall be <br />entitled to credit for all the insurance proceeds, if any, <br />resulting from damage to the remaining Property and any buildings <br />' or improvements, in an amount not to exceed the purchase price. <br />1 <br />1 <br /> <br /> <br /> <br />15. Time of Essence/Remedies. Time is of the essence hereof. <br />If any note or check received as earnest money hereunder or any <br />other payment due hereunder is not paid, honored or tendered when <br />due, or if any other obligation hereunder is not performed or <br />waived as herein provided, there shall be the following remedies: <br />(A) If Purchasers Are In Default. All payments and <br />things of value received hereunder shall be forfeited by Purchaser <br />and retained on behalf of Seller and both parties shall thereafter <br />be released from all obligations hereunder. It is agreed that such <br />payments and things of value are LIQUIDATED DAMAGES are SELLER'S <br />SOLE AND ONLY REMEDY for Purchaser's failure to perform the <br />obligations of this contract. Seller expressly waives the remedies <br />of specific performance and additional damages. <br />5 <br />1 <br />