AG 2004 08 16 - Laserfiche WebLink

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on the Property, then Buyer may terminate the Agreement by written notice to Seller prior to the end of the Examination Period and receive a return of the Earnest Money. (g) "Seller's Notice Address" shall be as follows: c/o Jerry Newton Cornerstone - An Integrated Real Estate Company, LLC 466 Church Street Concord, NC except as same may be changed as set forth herein. (h) "Buyer's Notice Address" shall be as follows: ¢/o Jody Rich Allen Tate Realtors 1096 Concord Parkway North Suite 2 Concord, NC 28027 except as same may be changed as set forth herein. Section 2. Proration of Expenses and Payment of Costs: Seller and Buyer agree that all property taxes, leases, rents, mortgage payments and utilities or any other assumed liabilities shall be prorated as of the date of Closing. Seller shall pay deed stamps and other typical Seller assumed conveyance fees or taxes, and Buyer shall pay recording costs, costs of any title search, title insurance, survey and other typical Buyer's Closing Costs. Section 3. Sale of Property: Seller agrees to sell the Property for the Purchase Price set forth herein, pursuant to the terms and conditions set forth herein. Section 4. Palrment of Purchase Price: Buyer shall pay the Purchase Price in accordance with all the terms and conditions of this contract. Section 5. Title: Seller agrees to convey fee simple marketable title to the Property by general warranty deed, subject only to the exceptions described herein. Seller represents and warrants that Seller is the fee simple owner of the Property. At Closing, Seller shall deliver to Buyer good and marketable fee simple title to said Property, free and clear of all liens, encumbrances and defects of title other than those matters of record or which a survey of the Property would reveal; zoning and building ordinances affecting the Property; utility easements of record serving the Property; taxes not yet due and payable; road rights-of-way of record and those other encumbrances; reservations, restrictions and easements and other exceptions currently of record or which will be made a matter of record in accordance with the terms of Section 1 (f) above ("Permitted Exceptions"). Section 6. Conditions: This Agreement and the rights and obligations of the parties under this Agreement are hereby made expressly conditioned upon fulfillment (or waiver by Buyer) of the following conditions: (a) New Loan: The Buyer must be able to obtain the loan referenced herein. Buyer must be able to obtain a firm commitment for this loan on or before August 15, 2004, effective through the date of Closing. Buyer agrees to use its best efforts to secure such commitment and to advise Seller immediately upon receipt of lender's decision.