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377 c. Other Ptrorations. Water and sewer chazges; interest on any continuing loan, and <br />378 <br />379 <br />380 <br />381 d. Final Settlement. Unless otherwise agreed in writing, these prorations shall be final <br />382 16. POSSESSION. Possession of the Property shall be delivered to Buyer on Possession Date and Possession Time <br />383 (§ 2c), subject to Ute following leases or tenancies: <br />384 <br />385 ~(/}LQ/ <br />386 <br />387 <br />388 <br />389 If Seller, afrer.Closing, fails to deliver ssession as specified, Seller shall be subject to eviction and shall be additionally <br />390 liable to Buyer for payment of $ per day from the Possession Date (§ 2c) until possession is delivered. <br />391 17. NOT ASSIGNABLE. This contract shall not be assignable by Buyer without Seller's prior written consent Except as <br />392 so restricted, this contract shall inure to the benefit of and be binding upon [be heirs, personal representatives, successors and <br />393 assigns of the parties. <br />394 18. INSURANCE; CONDITION OF, DAMAGE TO PROPERTY AND INCLUSIONS. Except as otherwise provided <br />395 in this contract, the Property, Inclusions or both shall be delivered in the condition existing as of the date of this contract, <br />396 ordinary weaz and tear excepted. <br />397 a. Casualty Insurance. Jn the event Ute Property or Inclusions shall be damaged by fue or other casualty prior to <br />398 Closing, in an amount of not more than ten percent of the total Purchase Price, Seller shall be obligated to repair the same <br />399 before Ute Closing Date (§ 2c). In the event such damage is not repaired within said time or if the damages exceed such sum, <br />400 this contract may be terminated at the option of Buyer by delivering [o Seller written notice of termination. Should Buyer elect <br />401 to carry out this contract despite such damage, Buyer shall be entitled to a credit, at Closing, for all the insurance proceeds <br />402 resulting from such damage to the Property and Inclusions payable to Seller but not the owners' association, if any, plus the <br />403 amount of any deductible provided for in such insurance policy, such credit not to exceed the total Purchase Price. <br />404 b. Damage, Inclusions and Services Should any Inclusion or service (including systems and components of Ute <br />405 Property, e.g. heating, plumbing, etc.) fail or be damaged between the date of this contract and Closing or possession, <br />406 whichever shall be eazlier, then Seller shall be ]fable for the repair or replacement of such Inclusion or service with a unit of <br />407 similaz size, age and quality, or an equivalent credit, but only to the extent Utat the maintenance or replacement of such <br />408 Inclusion, service or fixture is not the responsibility of the owners' association, if any, less any insurance proceeds received <br />409 by Buyer covering such repair or replacement. <br />410 G Walk-Through and Verification of Condition. Buyer, upon reasonable notice, shall have the right to walk through <br />411 the Property prior to Closing to verify that the physical condition of the Property and Inclusions complies with this contract <br />412 19. RECOMMENDATION OF LEGAL AND TAX COUNSEL. By signing this document, Buyer and Seller <br />at3 acknowledge that the respective broker has advised that this document has important legal consequences and has <br />ata recommended the examination of title and consultation with legal and taz or otlrer counsel before signing this contract. <br />at5 20. TIME OF ESSENCE, DEFAULT AND REMEDIES. Time is of the essence hereof. If any note or check received as <br />416 Earnest Money hereunder or any other payment due hereunder is not paid, honored or tendered when due, or if any other <br />at7 obligation hereunder is not performed or waived as herein provided, there shall be the following remedies: <br />418 a. If Buyer is in Default: <br />419 ^ (1) Specific Performance. Seller may elect to treat this contract as canceled, in which case all payments and things <br />420 of value received hereunder shall be forfeited and retained on behalf of Seller, and Seller may recover such damages as may <br />421 be proper, or Seller may elect to treat this contract as being in full force and effect and Seller shall. have the right to specific <br />422 performance or damages, or both. <br />423 t~rl (2) Liquidated Damages. All payments and things of value received hereunder shall be forfeited by Buyer and <br />424 retained on behalf of Seller and both parties shall thereafter be released from all obligations hereunder. I[ is agreed [hat such <br />425 payments and things of value aze LIQUIDATED DAMAGES and (except as provided in subsection c) are SELLER'S SOLE <br />426 AND ONLY REMEDY for Buyer's failure to perform the obligations of this contract Seller expressly waives the remedies of <br />427 specific performance and additional damages. <br />No. CBSb7-04. CONTRACT TO BOY AND SELL REAL ESTATE (COMAII?RCW,1 Page 8 of ll <br />In(dal <br />