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D. Proceeds of Sale and Closing Procedure - The deeds <br />shall be recorded upon the clearance of funds and evidence <br />of title continued at Buyer's expense to.show title in Buyer, <br />without any encumbrances or change which would render Seller's <br />title uninsurable, from the date of the last evidence and the! <br />....cash proceeds of sale shall be held in escrow by Seller's <br />attorney or by such other escrow agent as may be mutually <br />agreed upon for a period of not longer than five (S) days <br />from and after closing date. If Seller's title is rendered <br />uninsurable, Buyer shall within said five (S) day period, <br />notify Seller in writing of the defect and'Seller shall have <br />thirty. (30) days from date of receipt of such notification <br />to cure said defect. In the event Seller fails to timely cure <br />said defect, all monies paid hereunder shall, upon written <br />demand therefor, and within five () days s thereafter, be <br />y <br />returned to the Buyer and, simultaneously with such repay- <br />ment, Buyer shall vacate the premises and reconvey all of the; <br />subject property to the Seller by special warranty <br />deed. In the event Buyer fails to make timely demand for <br />refund, Buyer shall take title as is, waiving all right <br />against Seller as to such intervening g defect except as <br />may be available to Buyer by virtue of warranties, if any, <br />contained in the deed. <br />VII. CONVEYANCE <br />Seller shall convey title to the real property described <br />as Parcels B and C by quitclaim deed and shall convey title to <br />Parcels A, D, E and F by special warranty deed.. Personal property <br />shall, at the request of Buyer, be. conveyed by an absolute bill of, <br />sale with warranty of title, subject to such liens as may be <br />otherwise provided for herein. <br />VIII.ASSUMPTION OF OUTSTANDING BOND ISSUE <br />As part of the consideration for the sale, Buyer agrees to <br />assume that certain outstanding bond issue described as <br />$750,000.00 Indian River County, Florida, Hospital Bonds 1059, <br />with a current outstanding principal balance of Two Hundred <br />Seventy -Five Thousand Dollars ($275,000.00). Seller represents to <br />JUN 2 1 197 <br />35 ma 12tio <br />9 <br />.I <br />