AG 2006 05 15 - Laserfiche WebLink

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(b) Pu,rchaser shall have until the Due Diligence Date in which to examine title to the Property and in which to give Seller written notice of objections whicl1 render Seller's title less than good and marketable fee simple title. Thereafter, Purchaser shall have until the Closing Date in which to reexamine title to the Property and in which to give Seller written notice of any additional objections disclosed by such reexamination. Seller shall have until ten (10) days prior to the Closing Date in which to satisfy all objections specified in Purchaser's initial notice of title objections, or to agree to satisfy any such objections that can only be satisfied at Closing, and until the Closing Date in which to satisfy all objections specified in any subsequent notice by Purchaser of title objections. If Seller fails so to satisfy any such objections, then, at the option of Purchaser, Purchaser may: (i) terminate this Agreement, in which event the Earnest Money shall be refunded to Purchaser immediately upon request, all rights and obligations of Seller and Purchaser under this Agreement shall expire, and this Agreement shall become null and void; or (il) waive such satisfaction and performance and consummate the purchase and sale of the Property. 8. Survey. Purchaser shall have the right to cause a Survey of the Property to be prepared by a surveyor registered and licensed in the State of North Carolina and designated by Purchaser, which survey shall depict such information as Purchaser shall require. Upon completion of a plat of the Survey, Purchaser shall furnish Seller with a copy thereof. The Survey shall be used as the basis for the preparation of the leg<\l description to be included in either the special warranty deed (the "Special Warranty Deed") or the quitclaim deed (the "Quitclaim Deed"), at the option of Purchaser, to be delivered by Seller to Purchaser at Closing. 9. Proceedings at Closing. On the Closing Date, the Closing shall take place as follows: (a) Seller shall deliver to Purchaser the following documents and instruments, duly executed by or on behalf of Seller: (Ir a Special Warranty Deed, in recordable form, in the form of North C<\rolina Bar Association Form No.6 (@ 1977, 2002), utilizing, at Purchaser's option, a legal description based upon that contained in Exhibits A-1 and A-2, or based upon the Survey to be obtained pursuant to this Agreement; (2) a completed 1099-S request for taxpayer identification number and certification, and acknowledgment, in such form as is, and on such terms and conditions as are, acceptable to Purchaser's counsel; (3) a certificate, in form and substance satisfactory to counsel for Purchaser, to the effect that the representations and warranties of Seller in this Agreement are true and correct on and as of the Closing Date; <3-8 Page 6 of 18