AG 2006 05 15 - Laserfiche WebLink

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(4) a Quitclaim Deed, in recordable form, in the form of North Carolina Bar Association Form No.7 @ 1977, 2002, conveying all of Seller's right, title and interest in and to the Property either, at Purchaser's option, in accordance with the legal description contained in Exhibits A-I and A- 2, or in accordance with the legal description prepared from the Survey of the Land to be obtained pursuant to this Agreement; (5) an affidavit and indemnity agreement in standard form regarding contractor's and materialmen's liens on the Property acceptable to Purchaser and Purchaser's title insurer; and (b) Purchaser shall pay the remainder of the Purchase Price, after crediting the Earnest Money and making the adjustments and prorations provided for in this Agreement, to Seller in accordance with the provisions of this Agreement. (1) Evidence in form and substance reasonably satisfactory to Purchaser that Seller has the power and authority to execute and enter into this Agreement and to consummate the purchase and sale of the Property, and that any and all actions required to authorize and approve the execution of and entry into this Agreement by Seller, the performance by Seller of all of Seller's duties and obligations under this Agreement, and the execution and delivery by Seller of all documents and other items to be executed and delivered to Purchaser at Closing, have been accomplished; (2) To the extent the same are in the possession of Seller on the date of Seller's execution of this Agreement, or reasonably can be obtained by Seller prior to Closing, all prior surveys of the Land or any portion thereof and all plans and specifications for any of the Improvements; 10. Costs of Closing. Seller shall pay the State of North Carolina real estate transfer tax payable on the transfer of the Property, all recording costs and other costs relating to any title clearance matters, Seller's attorneys' fees. Purchaser shall pay all recording costs relating to the purchase by Purchaser of the Property, the cost of any survey obtained pursuant to paragraph 8 hereof, the premium for any owner's policy of title insurance issued in favor of Purchaser insuring Purchaser's title to the Property, and Purchaser's attorneys' fees. All other costs and expenses of the transaction contemplated hereby shall be borne by the party incurring the same. 11. Warranties. Representations and Additional Covenants of Seller. Seller represents, warrants and covenants to and with Purchaser, knowing that Purchaser is relying on each such representation, warranty and covenant, that: G-~ Page 7 of 18