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2009_0720_Packet
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2009_0720_Packet
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7/28/2009 2:49:01 PM
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b. Documentary Taxes. Buyer shall pay all siate tax for the deed to be <br />delivered by Seller under this Agreement. <br />c. ReaI Es#ate T�xes and Levied and Pending Assessments. General real <br />estate taxes due and payable in. 20Q9 shaII be prorated by Seller and Buyer <br />to the Clasing Date based upon a calendar flscal year. Seller shaii be <br />responsible for any green acre charges due on tl�e praperty as a resuli af the <br />closing af this txansaction. �eller shall pay aI1 special assessments levied or <br />pending aga�nst the Property as of th� date of this Agreement. <br />d. Attorney's Fees. Each party wi�l pay its own attorney's fees. <br />9. Title. <br />a. QuaIity of Title. Seller sk�all convey good and marketable fee title to the <br />Property to Buyer, subject ta no liens, easements, e�cumbrances, <br />conditions, reservations or zestrictions other than the Permitted <br />Encumbrances. <br />b. Title Evidence. Within ten days a$er the date of this Agreemen�, $uyer <br />shall obiain a commitment {"Title Commitment") for the most cuzxent form <br />of ALTA owner's policy a�insurance in the amouni of the Purchase Price <br />insuring title to the Praperty subject only to tI�.e Permitted Encumbrances. <br />c. Buyer's objectivns. Within ten days afte:r receiving the last of the Tit1e <br />Evidence, Buyer shall make written obj�ctions ("Objections"j to the fo:rm <br />and ar contents of the Ti�le Commiiment. Buyer's fail�re io make <br />Objections wrthin such time period will constitute waiver o�Objections. <br />Any matter shown on such Title Commitment and not objecied to by Buyer <br />shall be deemed an additzonal "Permitted Encumbranc�" hereunder. �eIler <br />shall have twenty days after receipt o�the Objections to cure the <br />Objections, during which periad the Closing will be postponed as <br />necessary. �eller shall use its best efforts to correct any Objections. Ii�he <br />Objectians axe not cured within such 2a-day period, Buyer will, in addition <br />to any other remedy available at law or under this Agreem�nt, have the <br />option to do eith�r o�the �ollowing: <br />(1} Terminate this Agreement; or <br />(2} Waive the objections and proceed to close, in which case such <br />matters shall be deemed Permitted Encumbrances hereunder. <br />C! <br />
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