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krw~Medge and which ware accepted by Buyer in ac~llca with §Sb (Madera Nw Shown by the Public Rewr~d
<br />d. Inclusion of the Property within am 7~~ lal taxing district, and
<br />e. the benefits azb bwden of any dec azalion and party wall agreements, II any, and
<br />f. other
<br />13. PAYMENT OF ENCUMBRANCES. Any encumbrance required to be paid shall be paid at or before Goaing from the
<br />procaoda of this tranacUOn w from arty other source.
<br />10. CLOSING COSTS: DOCUMENy3 AND SERVICES. Buyer and Seller shall pay, in Good Funds, Ihelr reapectwa
<br />Gwing costa and all other items required to be paid et Goring, except as otherwise provided herein. Buyer and Seller shall sign
<br />and complete all customary or reaeonabty required dacumeMa at w before Goring. Foes for real estate Goring eeMcee shall be
<br />pab et Goaing by One-Half by Buyer and One-Hall by Seller [~ Buyer ~ Seiler I'I Other _____.____._._ _.__.
<br />The focal trenator tax w Ff/A ~ the Pluchase Price shall be paid at Closing by ..Buyer j ~ Seller. Any ealea
<br />and use tax that may accrue because o/ this transaction shall be paid when due by O Ruyar j-)Seller.
<br />16. PROBATIONS. The folowing shall be prorated to Closing Data, except es etllerwise provided:
<br />a. Taxes. Personal property taxes, it any, and general real estate taxes for the year of Closing, based on
<br />~fThe Taxes for the Calendar Year Immediately Preceding Closing [~ The Most Recent MIII Levy and Most Recant
<br />Alisessment pOthar_
<br />b. Rents. Rents based on L) Rents Actually Received [~ Accrued. Security deposits held by Seller shall be
<br />credited l0 Buyer. Seller shall assign all leases to Buyer and Buyer shall assume such leases.
<br />W__A____ _ __ _ __ ___
<br />c. Other Prontlops.~Nlater, sewer charges; and interest on continuing I~~sn(sj, if any; snd~~
<br />16.
<br />(§IC),
<br />session of the
<br />lease(s)or ten
<br />tare proratimia shall be final.
<br />to Buyer on 1'osseasion Date end Possession Time
<br />If Sellerr, after~Closing, fails to deliver possession ~as specified, Seller shall besubject to eNclion and shall be
<br />additionally liable to Buyer for payment of S__ per day tram thr Possession Date (§2c) until possession
<br />is delivered. ---~--
<br />17. NOT ASSIGNABLE: This contract shall not be assi0nable by Buyer without Seller's prior written consent. Except as eo
<br />restricted, this contract shall inure to the benefit of and be binding upon the heirs, personal representaWes, successors and
<br />assigns of the paztiea.
<br />18. CONDITION OF. AND DAMAGE TO PROPERTY AND INCLUSIONS. Except as otherwise provided In this contract,
<br />the Property, InGusion or both shall be delivered in the condition existing as of the dale of this contract, ordinary wear and tear
<br />excepted.
<br />a. Casualty: Insurance. M the event the Property or Inclusion shall be damaged by fire w other casualty prior to
<br />Closing, in an amount of riot more than ten percent of the total Purchase Price, Seller shill be obligated to repair the same before
<br />the Closing Data (§2c). In the event ouch damage is not repaired within said time 1Y if the damages exceed such sum, this
<br />contract may be terminated at the option of Buyer by delivering to Seller written notice of termination. Should Buyer elect to carry
<br />out this contract despite such damage, Buyer shall be entitled to a credit, at Cios(ng. for ail the Insurance proceeds resulting
<br />from such damage to the Property and Inelusiona payable to Seller but not the owners' Pssoeiation, if any, plus the amount of any
<br />deductible provided for in such Inuranca pdicy, such credit not to exceed lha total Purchase Price.
<br />b. Damage: Inclusions: Services. Should any Inclusion(s) or service(s) (Including systems ant components of
<br />the Property, e.g. heating, plumbing, etc.) tail or be damaged between the date of llda.contrew end Goring or posaesalon,
<br />whichever shall be earlier, then Seiler shall be Iiabte for the repair w replacement of such Incusion(s) w aerNce(e) with a unit of
<br />similar size, age and quality, w an equlvalenl credit. hul oNy to the extent that file maintenance or replacement of such
<br />Inclusion(s), seMca(a) w Oxliue(s) Is not the responibiiity of lbe owners' aasociatlon, If any, leas any IMUrance proceeds
<br />received by Buyer covering such repair or replacement. The risk of loss for any damage to growing crops, by tiro or other
<br />casualty. shall be home by the party entitled la the Drawing crops, 1/ any, as provided In §3 end such party shall be entitled to
<br />such insurance proceeds or benefits for the growing crops, M any.
<br />a Walk•Through: Verifleatlon of Condition. 8trjlar, upon reasonable notice, aha0 have the right to walk Through
<br />the Property prior to Goaing to verity that the physical condition of the Property and Incluelona complies with this contract.
<br />19. RECOMMENDATION OF LEGAL ANO TAX COUNSEL By signing this document, 8iryef and Seller ackngvNedge that
<br />the Selling Cgmparry or the Lietlng Cpmpany has adNaed that tNS document has ImporlazH legal txxtsequeneea alb has
<br />recommended the examinatirxi of title erb coruultallon with legal and tax or other counsel before signing lNa ednlracl.
<br />10. TIME OF ESSENCE AND REMEDIF9. Time Is of the essence hereof. H arty ixde or check received as Earneal Money
<br />hereunder or any other payment due hereunder is not paid, honored or tendered when due, or H arty other obligallon hereunder Is
<br />not performed or waived as herein provided, there shall be the following rametlies:
<br />e. If BUVer is In Default:
<br />(_~ (1) Soecitic Performance. Seller may elect to treat Chia contract as canceled, in which case ell payments
<br />antl things of value received hereunder shall be (orteited and retained on behalf of Seller, end Seiler may recover ouch damages
<br />as may he proper, or Sallar may elect to treat tNs contract as being In lull twee and effect antl Seller shall have the right to
<br />specific performance w damages, w both.
<br />(2) Llguldated Damages. All payments end things of value received hereunder shall be forfeited by Buyer
<br />and retained on behalf of Seller and both parties shall thereafter be released from all oWigatlonr hereunder. h Ie agreed that such
<br />payments end things of value arc LIQUIDATED DAMAGES and (except as provided In aubsectlon e) are SELLER'S SOLE AND
<br />ONLY REMEDY for Buyer's tailors to perform the obligations of this contract. Seller expressly waives the remedies of specific
<br />partarmance and addillonal damages.
<br />b. If Seller la In Default: Buyer may elect to treat this contract as canceled, in which ease all payments and
<br />things of value received hereunder shall be rationed antl Buyer may recover such damages as may be proper, or Buyer may elect
<br />to treat this contract ae being in full twee and effect and Buyer shall have the right to specific performance or damages, or both.
<br />e. Costa and tioenaea. bl Ue event of any arbitration or litigation rNalhlg to this contract, the arbltratar or court
<br />shall award to the prevaililg party all reasonable costs and ezpensn, including attorney tees.
<br />21. MEDIATION. H a dispute arises relating to this comraw, prior to w after Goring, end Ia not resolved, the pazties shall
<br />first proceed in good faith to submit the matter to mediation. Mediation la a process In which the parties meet with an Impartial
<br />person who helps to restive the dispute IMwmally and confitlentialfy. Mediators eanriot Impose binding ifaeisiona. The paNes to
<br />the dispute must agree befwo any settlement la barbing. The parties will jdntiy appoint an acceptable metllatw orb will share
<br />equally in the coat of such mediation. The mediation, unless otherwise agreed, ehali terminate In the avert the entire dispute is
<br />nal resolved 30 caleMar days Iron the dale written nallce requesting mediation is sent by one party to lbe other(s). This Section
<br />shall not alter any date in this cgMraw, uNesa otherwise agreed.
<br />22. FJIRNEST MONEY DISPUTE Notwithstanding any termination of this conlracL Buyer and Seller agree Thal, In the
<br />event of any contrgversy regarding the Earnest Money and f~~inga of value held by broker w Goaing Company (unless mutual
<br />written Instructtpne are received by the holder w the Earneal A~~ may and things of value), broker w Closing Comparry shall not be
<br />required to take any action but may swell any proceeding, or •t woker's or Closing Company's option and sole discretion, may
<br />interpleatl all parties antl deposit any moneys w Ihinge o/ value ~ Ro a court w competent jurisdiction antl shall recover court Caste
<br />and reasonable attorney lees.
<br />23.' TERMINATION. In the avant this contract Is termini-~•d, all payments antl things or slue receivetl hereunder shall be
<br />returned'and the parties shall be relieved of all obligations hem Ider, subject to §§10c, 21 antl 22. ' i
<br />Caa 3•a-0a Contract To Buy And Sall Raal Eatata (Vacant Land-Farr Ranch -jgi(y F~ri}nGnp)
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