AG 2016 07 18 - Laserfiche WebLink

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a. Seller shall have performed all of its obligations under this Contract, has not violated any covenants set forth in this Contract and all representations and warranties of Seller set forth in this Contract shall be true and correct as of Closing. All conditions precedent to Closing under the Weddington Road 2 and 3 Contracts shall have been satisfied (or waived by Buyer in its sole discretion). b. Title to the Property shall be as set forth in Section 7 and Buyer shall have obtained title insurance insuring Buyer's title to the Property at standard rates, all in accordance with Section 7 C. There has been no default, by either party, with regard to any of the Other Contracts and it is reasonably anticipated that the Closings on the Other Properties shall occur simultaneously with the Closing hereunder. d. [BOARD CONSENT HAS BEEN OBTAINED????l In the event any of the foregoing Conditions Precedent have not been satisfied prior to, or as of, the Final Closing Date, Buyer shall have the right to terminate this Contract and the Earnest Money shall be paid to Buyer. 15. Comon*ion Other Contracts; Additional Weddington Road Property Concurrently herewith, Buyer has entered into two (2) other contracts with Seller (the "Weddington Road 2 Contract" and the "Weddington Road 3 Contract ") for the purchase of that additional "Weddington Road 2 Property" and "Weddington Road 3 Property," respectively, which Properties are located adjacent to the Property and which are described more particularly on Exhibit A hereto . Buyer requires, as does Seller, and the Parties acknowledge and agree, that the Closing hereunder shall be contingent upon and shall occur simultaneously with closing under the Weddington Road 2 Contract and the Weddington Road 3 Contract, as well as the closing under the Burgos Contract. Without limitation, in the event that either Buyer or Seller has a right to terminate any one of these eaffip ffifieli Other Contracts then either Buyer or Seller, as the case may be, has the right to terminate them all. Furthermore, in the event that Buyer is entitled to terminate the Burgos Contract, then it shall be entitled to terminate this Contract (and the Cep Other Contracts). 16. Closing Documents Seller shall convey title to the Property to Buyer in accordance with the provisions hereof by execution and delivery of a general warranty deed, in recordable form, and in substantially the same form, and with the exceptions to title, as that attached hereto as Exhibit B , conveying the Property in accordance with the legal description prepared from the Survey. Seller shall also furnish at Closing (i) a North Carolina Land Title Association, March 2013, Form No. 1: Owner Affidavit and Indemnity Agreement (No Recent Improvements), attached hereto as Exhibit C , which shall include a sworn statement that there are no leases or tenancies or others in possession of the Property; (ii) a non - foreign affidavit; (iii) a 1099 reporting form; (iv) if Buyer determines it is applicable during its Feasibility Period and in Buyer's discretion, a quit claim Assignment and Bill of Sale executed by Seller in order to convey such personal property rights /interests and such intangible appurtenant property related rights as pertain to and are part of the Property as herein described; and (v) such other commercially reasonable documents and instruments appropriate for the subject transaction or which may be required to satisfy any conditions of Buyer's title insurance company. At Closing, Buyer shall deliver to Seller the Purchase Price (taking account of all other costs and adjustments provided for herein) and such documents and instruments as Seller shall reasonably require, in form and substance reasonably approved by Seller. Page 9 of 17 Attachment number 8 \n G -2 Page 139