AG 2000 02 21 - Laserfiche WebLink

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9. Condition of the Property. (a) The Property, at Closing Date, shall be in its current condition, excepting only: i. ordinary wear and tear; ii. approved Seller's remedial actions; and iii. changes due to Purchaser's conduct of tests, as authorized by this Agreement. (b) In the event that any hazardous or toxic condition as defined in Section 8(d) needs to be remedied, Seller shall have the option of (i) cleaning up or remedying any such condition, (ii) providing for its clean up or remedy, or (iii) refusing to complete the clean up or remedy, tf Seller elects not to complete or provide for the completion of the clean up or remedy, then Purchaser shall have the option of (i) accepting the Property in its present condition, or (ii) terminating this Agreement, in which case the Escrow Deposit shall be refunded. (c) Seller shall not cause or permit any changes to the Property, except as herein provided. 10. Closing Mechanics. Should all conditions set forth in Sections 6 and 8 either be met or be waived by Purchaser, the following provisions shall govern the Closing; (a) Seller's Obligations. At or prior to Closing, Sellershal[ comply with the following obligations: i. At Closing, Seller shall deliver to Purchaser or its designee, nominee or assign a good and sufficient general warranty deed (the "Deed") for the Property in form for recording, executed and acknowledged by Seller with all stamps required by state and local law in the proper amount affixed thereto by Seller at Seller's expense, so as to convey to Purchaser Clear Title (as defined in Section 10(f) hereof) to the Property in fee simple absolute. Seller's spouse, if any shall join in the Deed to waive marital rights in the Property. ii. At Closing, Seller shall deliver to Purchaser a standard owner's or lien waiver aff~davit (including provisions stating that there are no parties in possession of the Property under unrecorded leases) sufficient for Purchaser to obtain title insurance for the Property free from all but the Permitted Exceptions (as defined in Section 10(0 hereof). iii. At Closing, Seller shall deliver to Purchaser such other documents as may reasonably be required by Purchaser or its title insurer, including, without limitation, a non-foreign status affidavit sufficient to comply with Section 1445 of the United States Internal Revenue Code. (b) Adjustments, Real estate taxes, rents, utilities, water and sewer rents, fuel, and other operating charges applicable to the Property shall be prorated as of the date of Closing. (c) Costs. State excise tax or deed stamps and costs of preparation of the deed of conveyance shall be paid by Seller at Closing. Costs of examination of title, title insurance, settlement charges, notary fees, transfer taxes, all recording charges and other ordinary and usual expenses of closing shall be paid by Purchaser at Closing. Seller and Purchaser shall each pay their respective attorney's fees.