AG 2002 12 16 (Regular) - Laserfiche WebLink

Home Browse Search

5. CONDITIONS: (State N/A in each blank that is not a condition to this contract.) (a) The Buyer must be able to obtain a loan commitment on or before N/A , effective through the date of closing, for a [] FHA [] VA (attach FHA/VA Financing Addendum) [] Conventional [] Other: loan at a [] Fixed Rate [] Adjustable Rate [] ~Other: in the principal amount of for a term of year(s), at an interest rate not to exceed % per annum, with mortgage loan discoUnt points not to exceed % of the loan amount. Buyer agrees to use his best efforts to secure such commitment. shall be responsible for all costs with respect to any loan obtained by Buyer, except if Seller is to pay any of the Buyer's loan closing costs including discount points, those costs are as follows: for a term of year(s), at an interest rate not to exceed % per annum, mortgage loan discount points not to exceed % of the loan amount. Buyer agrees to use his best efforts to secure such commitment. shall be responsible for all costs with respect to any loan obtained by Buyer, except if Seller is to pay any of the Buyer's loan closing costs including discount points, those costs are as follows: In the event Buyer fails to provide Seller with written evidence of the loan commitment within five days after receipt of a written request from Seller (but such request may not be made before the loan commitment date listed above), then Seller may terminate this contract unless Buyer waives the loan commitment condition. (b) There must be no restriction, easement, zoning or other governmental regulation that would prevent the reasonable use of the real property for N/A purposes. (c) The Property must be in substantially the same or better condition at closing as on the date of this offer, reasonable wear and tear excepted. (d) All deeds of trust, liens and other charges agains! the Property, not assumed by Buyer, must be paid and satisfied, by Seller prior to or at closing such that cancellation may be promptly obtained following closing. Seller shall remain obligated to obtain any such cancellations following closing. (e) Title must be delivered at closing by GENERAL WARRANTY DEED unless otherwise stated herein, and must be fee simple marketable title, free of all encumbrances except: ad valorem taxes for the current year (prorated through the date of closing); utility easements and unviolated restrictive covenants that do not materially affect the value of the Property; and such other encumbrances as may be assumed or specifically approved by Buyer. The Property must have legal access to a public right of way. 6. SPECIAL ASSESSMENTS: Seller warrants that there are no governmental special assessments, either pending or confirmed, for sidewalk, paving, water, sewer, or other improvements on or adjoining the Property, and no owners' association special assessments, except as follows: none (Insert "None" or the identification of such assessments, if any.) Seller shall pay all confirmed owners' association assessments and all confirmed governmental assessments, if any, and Buyer shall take title subject to all pending assessments, if any, unless otherwise agreed as follows: none 7. PRORATIONS AND ADJUSTMENTS: Unless otherwise provided, the following items shall be prorated and either adjusted between the parties or paid at closing: (a) Ad valorem taxes on real property shall be prorated on a calendar year basis through the date of closing; (b) Ad valorem taxes on personal property for the entire year shall be paid by the Seller unless the personal property is conveyed to the Buyer, in which case, the personal property taxes shall be prorated on a calendar year basis through the date of closing. (c) All late listing penalties, if any, shall be paid by Seller. (d) Rents, if any, for the Property shall be prorated through the date of closing. (e) Owners' association dues, and other like charges shall be prorated through the date of closing. Seller represents that the regular owners' association dues, if any, are 0.00 per 8. CLOSING EXPENSES: Seller shall pay for preparation of a deed and all other documents necessary to perform Seller's obligations under this agreement, and for excise tax (revenue stamps) required by law. Buyer shall pay for recording the deed and for preparation and recording of all instruments required to secure the balance of the purchase price unpaid at closing. 9. FUEL: Buyer agrees to purchase from Seller the fuel, if any, situated in any tank on the Property at the prevailing rate with the cost of measurement here of, if any, being paid by Seller. 10. EVIDENCE OF TITLE: Seller agrees to use his best efforts to deliver to Buyer as soon as reasonably possible after the acceptance of this offer, copies of all title information in pos~session of or available to Seller, including but not limited to: title insurance policies, attorney's o~)inions on title, surveys, covenants, deeds, notes and deeds of trust and easements relating to the Property. 11. LABOR AND MATERIAL: Seller shall furnish at closing an affidavit and indemnification agreement in form satisfactory to Buyer showing that all labor and materials, if any, furnished to the Property within 120 days prior to the date of closing have been paid for and agreeing to indemnify Buyer against all loss from any cause or claim arising therefrom. 12. PROPERTY DISCLOSURE AND INSPECTIONS: (a) Property Disclosure: [] Buyer has received a signed copy of the Residential Property Disclosure Statement prior to the signing of this Offer to Purchase and Contract. [] Buyer has NOT received a signed copy of the Residential Property Disclosure Statement prior to the signing of this Offer to Purchase and Contract and shall have the right to terminate or withdraw this contract without penalty upon receipt of the Residential Property Disclosure Statement h__.--..5