CCP 03-08-1999 - Laserfiche WebLink

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. . . . Property or Business Equipment and Black Dirt, said objections to be made by written notice within ten (10) days or be deemed waived. If the title to the Real Property, Business Equipment and Black Dirt, as evidenced by the Commitment, Survey, and Searches together with any appropriate endorsements and updated Survey and Searches, is not good and marketable of record in Seller and is not made so by the Closing Date, Purchaser may either: 3.1 Terminate this Agreement by giving written notice to Seller in which event this Agreement shall become null and void and neither party shall have any further right or obligation hereunder; or 3.2 Elect to accept the title in its unmarketable condition by giving written notice to Seller, in which event Purchaser shall hold back adequate funds from the portion of the Purchase price payable at the closing to cure the defects and apply said hold back funds for the cost of curing such defects, including reasonable attorneys' fees, and pay the unexpended balance to Seller. 4. Survey. Purchaser acknowledges that it has already obtained, at its cost, a survey for the land and that it shall be responsible for updating the survey as Purchaser deems appropriate. 5. Documents to be Delivered by Seller. Seller shall promptly obtain and deliver to Purchaser all ofthe following, which Seller possesses, certified by Seller as full, true, correct and complete: 5.1 All plans, specifications, blueprints, operating manuals, licenses, and other information pertaining to the Real Property, Business Equipment and Black Dirt which are in the possession, or under the control, of Seller. 5.2 Copies of all certificates and policies of insurance held by Seller with respect to the Real Property, Business Equipment and Black Dirt. 5.3 Copies of all permits or authorizations required to be issued by any governmental body having jurisdiction in connection with any state of facts or activity presently existing or being carried on with respect to the Real Property. 5.4 Copies of all warranties and guaranties which pertain to the Real Property, Business Equipment and Black Dirt or any portion thereof. Seller agrees that Seller shall, at Seller's sole expense prior to the closing date on the Real Property and prior to the final payment on the Business Equipment and Black Dirt, effect the absolute termination of, and the payment of all amounts owing under, all contracts and agreements affecting the Real Property, Business Equipment and Black Dirt. 3