AG 2010 09 20 - Laserfiche WebLink

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Closing may be held in escrow through an agent designated by COUNTY or as otherwise agreed to by the parties. 9. Closing Documentation At Closing, Seller shall execute and deliver to COUNTY the following: (a) A general warranty deed on the most recent North Carolina Bar Association form (the "Deed ") conveying to COUNTY title to the Property free and clear of all liens, charges and encumbrances, except those matters of record as of the Effective Date that are approved by COUNTY, or not objected to in a timely manner under Paragraph 12 (collectively, the "Permitted Encumbrances "). (b) An owner's and contractor's affidavit on a form acceptable to COUNTY's title insurer. (c) A FIRPTA affidavit in the form complying with law so that withholding will not be required. (d) Any other documents necessary in order to close the transaction in accordance with the terms of this Agreement. The closing documentation shall be prepared by COUNTY, and drafts of each closing document shall be submitted to Seller at least fifteen (15) days before Closing. 10. Closing Costs Seller shall pay for the revenue stamps on, and preparation of the Deed and other closing documents listed in Paragraph 9. COUNTY shall be responsible for the cost of recording the Deed, and the cost of title examination, the title insurance premium, the survey contemplated by Paragraph 13, and COUNTY's other due diligence investigations. Each party shall pay its own attorneys' fees and any other costs and expenses that it may incur in connection with the transaction contemplated hereby. 11. Taxes All real estate taxes assessed against the Property for the year in which the Closing occurs and prior years, whether or not due and payable as of the Closing Date, shall be paid in full by Seller on or prior to the Closing. All personal property taxes and any special assessments or roll- back taxes against the Property shall be paid in full by Seller on or prior to the Closing Date. 12. Title Examination COUNTY will promptly examine the title to the Property. If COUNTY does not approve the title to the Property to be received by COUNTY, COUNTY shall advise Seller in writing, during the Term, of the objections to title, and Seller shall have a period often (10) days after the date of the notice'within which to remedy the objections to the satisfaction of COUNTY. The objections to title may be based on a survey of the Property obtained by COUNTY under Paragraph 13. Seiler covenants to cure, at or prior to Closing, all objections that may be satisfied by the payment of a fixed sum of motley, such as deeds of trust, mortgages or statutory liens, and Seller's failure to cure such objections shall be a default under this Agreement. If the other objections raised by COUNTY are not cured or remedied within the ten (10) day period, COUNTY may at its election either: (a) accept title to the Property subject to the objections, or (b) terminate this Agreement, and receive the return of the Option Fee. In addition, Seller shall allow no encumbrances or easements to be placed on or granted with respect to the Property, other than those existing as of the Effective Date, without the prior written consent of COUNTY. If any such encumbrances or easements arise prior to the Closing Date and COUNTY objects, Seller shall, at its sole expense, cure the objections. AMOPM number 1 F -13