CCP 02-10-1992 - Laserfiche WebLink

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. . Property Certificate, as the case may be, including proper searches covering levied and pending assessments, bankruptcies, and State and Federal judgments and liens, showing good and marketable title of record to the subject parcel, free and clear of any liens, chargesr and encumbrances except the lien of taxes and special assessments and easements of record, if any. Donee shall be allowed forty-five (45) days after receipt of said Abstract or Certificate, as the case may be, for examination thereof and the making of any objections to the title of Donor, which objections are to be made in writing or else deemed to be waived. If any objections to Donor's title to the subject parcel are made and Donor has been duly and timely notified thereof, it shall be allowed one hundred twenty (120) days to make title to the subject parcel marketable. Pending correction of title, the closing and all payments required hereunder shall be postponed, but upon correction of title and . within ten (10 ) days of the written notice thereof, Donee shall perform its payment obligation under this Agreement. If Donor r s title to the subject parcel is not made marketable within said one hundred twenty (120) days from the date of mailing of said written objections, this Agreement or any part hereof shall be voidable at the option of Donee, and if Donee elects to void this Agreement or any portion hereof, it shall do so by written notice to Donor mailed by registered mail or delivered to Donor within ten (10) days after the expiration of said one hundred twenty (120 ) day period. In the event this Agreement is voided in the manner provided in the previous sentence hereof, neither Donee nor Donor shall be liable for damages hereunder to the other. 5. Glo-s'in'g' -a-nd Possession. The purchase of the subject parcel shall be closed at the offices of Stringer, Donnelly, . - 5 -