2003-04-17_REVISION - M2001090 - Laserfiche WebLink

Home Browse Search

Closing Date may be postponed by Purchaser for a reasonable period of time not to exceed 30 days until Seller shall have removed such Title Defects. If Seller is unable or refuses to cure such Title Defects within such 30 day period, then this transaction may be canceled by Purchaser, and if so canceled, alt documents, if any, in the possession of the Closing Agent shall be returned to the party executing same. In this event, Purchaser shall be fully released from any and all liability hereunder. Alternatively, if the Title Defects arise from the act or omission of Seller after the Effective Date, Purchaser either may terminate this Agreement or consider this Agreement in full force and effect. 6.3 Waiver of Title Defects. If Purchaser, in its sole and exclusive discretion, waives the Title Defects preventing the issuance of the Title Policy by the Title Company, or if Seller cures the same within the time permitted, this transaction shall close in accordance with the terms and provisions set forth herein except that Title Defects waived by Purchaser, if any, shall be set forth as Permitted Exceptions in the deed and in the Title Policy. 6.4 Closing Adjustments. Closing adjustments shall include, if applicable, any rent, utilities, customary expenses, and real estate taxes and assessments, both general and special, which shall be prorated by the Closing Agent as of the Closing Date, using for such purposes the rate and valuation shown in the last available public records. 6.5 Duties of Closine Agent. On the Closing Date, the Closing Agent shall file for record the deed and any other instruments required to be recorded, and shall thereupon deliver to each of the parties the funds and documents to which they shall be respectively entitled, together with settlement statements executed by the parties. 6.6 Seller' Settlement Charles. Seller shall be charged with the following expenses at Closing: (a) The full amount of real estate taxes and assessments, whether special or general, and any fees for licenses or permits prorated up to and including the date of transfer of title; (b) The cost of paying off and satisfying any mortgage, lien or other indebtedness against Parcel 2 together with the costs of any mortgage cancellation, recording fee or other costs incident to the satisfaction of any such indebtedness; (c) .One-half of.any county or local real estate transfer tax or fee; (d) One-half of the closing fee charged by the Closing Agent; (e) The cost of the Title Policy including all endorsements reasonably requested by Purchaser prior to Closing; and RECEIVED _ la_ APR 112003 !- Division of Minerals and Geology ~ ~' ~M