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INCREASE IN MILL LEVIED. BUYER 8HOULD INVES~TE THE DEBT FINANGNG REOVIRF~yIFJ1T3 OF THE ~oWZED
<br />GENERAL OBLIGATION INDEBTEDNESS OF SUCH RICTS, EXISTING MILL LEVIES OF SUCH DISTRI IgNG
<br />SUCH INDEBTEDNESS, AND THE POTENTIAL FOR AN INCREASE IN SUCH MILL LEVIES.
<br />In the evem the Property is bested within a apecld taxing dsWct and Buyer desires to terminate this eoMracl as a
<br />result, 11 written notice Is received by Seller on w before OD12aeoM Mattes Objection Deadline (§2c), this contrecl shall then
<br />terminate. H Salim dcea nd receive Buyer's notice by such date, euym accepts the eHeU of ttw PropMy's Irrduslon b such
<br />specal taxing district(s) end waives the right to ao terminate.
<br />d. Right to Cure. H Sellm receives notice d lavnmchantability of title or airy other unsatisfactory title eaMitlon(e)
<br />or canmitmem terms es provided in §8 a w b above, SUIm shall use reasonabe eHart to correct sold Items ant hear arty
<br />nominal expense to correct the same prior to Goaing. H etrch unsaUdaclory UUe condition(s) are not corrected on w before
<br />Closing, this contract shall then terminate: provided, however, 8uym may, by written notice received by Sellm, m w before
<br />Closing. waive objection to such Ilema.
<br />e. Title Advisory. The The Dxtrtnents affect Ute Iitle, ownership and use d the Property and shadd ba ravlewM
<br />carefully. Additionally, other matters not reflected in Iha Title Documents may eHeU the title, ownership and use of the Properly,
<br />including without limitation bouMary lines erW eneroactanmta, area, zodng, unrecorded easemems and claims el easemenla,
<br />leases and other uwecorded agreemenla, and various Iowa ant governmental regWations toncerdng land use, develogneM and
<br />environmental mailers. The surface estate may be owned separately from the urWertying mineral estate, and banafm d the
<br />surface estate does not necessarily include lranalm of the mineral righW. Third parties may hdd intaresls In dl, pas, other
<br />minerals, geothermal energy w water an w under the Property, which Interests may give them rights la enter arld use the
<br />Property. Such matters may he excluded from the title Insurance policy. Buyer Is advised to timely canaWl legal counsel with
<br />respect to all such matters as theta ere sWct lime limbs provided In this contract (e.g., Title Objection Dsedlina (§Zc] and
<br />Off~tecord Matters Objection Deadline (§2c]).
<br />9. LEAD BASED PAINT. UMess exempt, if the impravnneMa on iha Property IrrUUde one or more residential dwelling(s)
<br />for which a building pmmil was Issued prior to January 1, 1978. this cantrecl shall ba veld unlecs a completed Lead-Based Paint
<br />Disclosure (Salsa) form is signed by Sellm ant the requred real eatata licensee(s), wMch must occur prior to the paAiea eignhlg
<br />this contract.
<br />1g. PROPERTY DISCLOSURE AND INSPECTION. On or before Seller's Property Olacloaure Daadllno (§2c), Sellm
<br />agrees to provide Buyer with a written diaUOSUre of adverse matters regarding the Properly tanpleted by Seller to the best of
<br />Seller's current actual knovAadge.
<br />a. Inaoectlen Ohlectlon Deadline. Buym shall have the right to have Inspection(s) d the physical condition d the
<br />Propmty end Incluaiona, at Buyers expense. H the phyaiul condition of lM Property or Inclusions Is unaaUalaclory In Buyers
<br />subjective discretion, Buyer shall, on or before Inspection Ob]acUOn Oaadllne (§2e):
<br />(1) notify Seller in writing that this contract Is terminated, or
<br />(2) provide Seller with a written description d arty unaatislactory pfysical condition which 8uym regWrea
<br />Seller to correct (Notice to Correct).
<br />H written notice Is not received by Soler on w before InapacUOn Objection Deadline (§2e), the physical condition al
<br />the Property and Inclusions shall be deemed to be aatislactory to Buym.
<br />b. Resolution Deadline. If a Notice to Correll Is received by $Nlm eM if Buyer and Sellm have not agreed In
<br />writing to a cetdement thmeo( on or Before Reaolutlon Deadline (§2c), this canVact shall terminate orre calendar day following
<br />the Reaolutlon Deadline, unless before such lmminalion $Nlm receives Buyers written withdrawal d lire NUlce la Correct
<br />c. Damave: Liens; Indemnity. Buyer Is reaponslde for payment tar all kupecliona, survaye, mgimming reports
<br />or Ier arty other work performed at Boyars request and shall pay Iw arty damage which occurs to Itre Properly and krctusions as
<br />a result of such activities. Buyer shall not pmmit claims or Ileru d arty kind agairut llw Property for inspeetlaro, surveys,
<br />engineering reports eM for arty other work pertamed on the Property el euyera request. Brrym ngresa to IndamMfy, protect
<br />and hdd Sellm harmless Irom and against any liability, damage, coal or expense Inaared by Sellm In corvlectlm with any such
<br />inspection, claim, or Iim. TMs IrMemnity kxtiudea Sellers right to recover all costs and espansm Indurrod M Shcm to enforce
<br />this subsectrgn, Including SelleM1 reasanade altorcey lava. The provlalana w lMS aW>sactlan atrau surNVe tM tmminallan of
<br />this conVacl.
<br />11. CLOSING. Delivery of deed(s) Irom Sellm to Buym shall be at Gosinp (goslrp). Goakq shaft be on the date apeUflad
<br />as iha Closing Date (§2c) or by mutual agreement al an earUm date. The hour and place d goslrg shall fie as daslgrwted by
<br />12 TRANSFER OF TIRE Stal)eet to lmtlm or payment at Gosmg as regWred hmlln and Compllarlce by Buym vets the
<br />other terms arM provisions hereof, Sellm shall execute ant deliver a good arW aWflcleM Nnxuxancy deed
<br />to Buyer, at Closing, comroylrp the Property tree and clear d N taxes except IM 9enerd taxes 1a the year a(C_7' os]ip. except
<br />as provided herein, titb shall be eamyed free and clear of a9 Uem, InUuding arty governmental Uens for special improvemeds
<br />installed es of the date of Buyer's signatore hereon, whethm asaease0 or rrot. Title shall be conveyed aub]ect to:
<br />a. those specific Exceptlans deawlbed by relmence to recorded documents as refiedee In the Title Documada
<br />accepted by Buyer In accordance with §Ba [Title Review],
<br />b. diatribthion utility easements,
<br />c. those apecifirally deawihed righh of Wrd parties rrot shown by the public records of which Buym has actual
<br />knowletlge and which were accepted by Buyer in accordance with §Sb (Mates Not Shown br the Public Records], ant
<br />d. Inclusion of iha Property within arty apeclal taxing disVlcL and
<br />e. the benelils and burdens of arty declaration and party wall agreemema, If any, and
<br />1. other
<br />17. PAYMENT OF ENCUMBRANCES. Any encumlxanca requred to be~paid shell be paid et w before Closing Irom the
<br />proceeds of this tranaadion w from any other source.
<br />14. CLOSING COSTS: DOCUMENTS AND SERVICES. Buyer and Sellm shall pay, In Good FInWS, their respective
<br />Closing costs and all other items requred to ba paid et Goaing, except as olharwiae proNtled beds. Buyer ant Seller shall sign
<br />and complete all customary or reasonably required documents at or belwo Goaing. Fees for real estate Cloaing aerNCee shall be
<br />paitl at Closing 6y ~ One+lalf by Buyer and Oneifalt by Seller j-] Buyer Il Seller j ]Other
<br />The local lrensler tax of ~_~(~_ %of the Purclvse Price shall be pa]A at Closing by L] Buyer I I §aller. Arty selea
<br />and use tax that may accrue because of IMa Uanaaction shall be paid whm due by U Buyer ~] Seller.
<br />15. PROBATIONS. The following shall be prorated to Cloaing Date, except es otherwise provided:
<br />a. Taxes. Personal property taxes, if any, and geneel real estate taxes for the year of Gosing, based on
<br />1Rj The Taxes tar the Calendar Year Immediately Preceding Cloaing ^ The Moat Recent MITI Levy and Most Recent
<br />Aseeaament f') Other _
<br />6. Rents. Rents based oh j ]Rama Actually Received j-j AccrueE. ~Secunty deposits held Dy Seller shall be
<br />credited to Buyer. Seller shall assign all leases to 8uym and Buym shall assume such leases.
<br />c. Other Prora dons. Water, cower charges; and Interest on continuing loan(s), if any; and
<br />d. Final Settlement. Unless otherwise agreed In wrilirg, these prora0ona shall be final.
<br />16. POSSESSION. Possession of the Property shall be deliveed to Buyer on Possasslon Data and Poaaeeelon Tlrna
<br />(§2c). subject to the folowing leafa(s) or tenanty(a):
<br />_ __ .. ...
<br />II Seller, after Closing, (ails to deliver possession as specified. Seller shall ~be subject to evicilwl enE shall be
<br />additionally liable to Buyer for payment o(S '~ pm day Tram the Possasslon Op to (§2c) until possession
<br />is
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