CCP 12-15-1997 - Laserfiche WebLink

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DEC-12-1997 10:43 8PADLE( & DEIKE, P.A. 612 926 5743 P.lO I' ~ shall be conclusively presumed to have irrevocably waived the right to terminate under this Section 10 and to have accepted the Property in its "as is" condition and the Seller shall have no liability to the Purchaser on account of any eomijtions existing on the Land. This provision shall not abrogate Seller's express warranties and representations contained in this Agreement. I 11. REAL ESTATE TAXES AND ASSESSMENTS. All general real estate taxes and installments of special assessments levied Or assessed 1 against the Property (collectively, "Taxes") shall be paid by Setler if the same are due and payable as of the Closing Date and by Purchaser if due and payable thereafter. All Taxes for the tax fiscal year in which the Closing Date occurs shall be apportioned between Purchaser and I Seller on and as of the Closing Date, with Purchaser bearing only the expense of that proportion of such Taxes that the number of days in the proration period following and including the Closing Date bears to 365. lfthe amolUlt of Taxes to be borne by the parties as above provided is I not ascertainable on the Closing Date, the total thereof paid for the preceding tax fiscal period shall be used for purposes of such proration, and within thirty (30) days after the amount of such Taxes becomes known, the parties shall recompute such proration and adjust the difference. I 12. CONDmONS PRECEDENT. 1 (A) This Agreement and all obligations of Seller hereunder are expressly conditioned 011 the following conditions precedent being in effect or complied with on and as of the Closing Date, and Purchaser covenants that it will use diligent, good faith efforts to cause such conditions Ie to be in effect or complied with: I (1) Purchaser's representations and warranties set forth in Section 8 shall remain true and correct in all material respects. I (2) Purchaser shall have executed and delivered or caused to be executed and delivered to Seller and/or the Title Company, as herein provided, all documents, instruments and information required to be delivered by Purchaser. I (3) Purchaser shall be in compliance with all of its other obligations under this Agreement and the Contract. I (B) This Agreement and all obligations of Purchaser hereunder are expressly conditioned on the following conditions precedent being in effect or complied with on and as of I the Closing Date, and Seller covenants that it will use diligent, good faith efforts to cause such conditions to be in effect or complied with: I (I) The Title Commitment, as redated to the Closing Date, shall disclose good and marketable fee simple title to the Property vested in Seller free and clear of all encwnbnmces except the Pennitted Exceptions, and the Title Company shall be prepared I to issue the Title Policy to Purchaser in the form required by Section 4 immediately upon the recording of the Deed. " 9 I --------