2018-178A (2) - Laserfiche WebLink

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and other advertising and promotional materials concerning the Property owned by Seller, if any. (g) Property: The Realty and the Personalty. (h) Deed Restrictions: The limitations placed on development or use of the Property as specified on the Special Warranty Deed and listed as a title exception. 2. PERSONALTY. Seller agrees to sell and convey the Personalty, if any, to Buyer by Bill of Sale. 3. NET PURCHASE PRICE. The Purchase Price to be paid by Buyer to Seller for the Property shall be TWO MILLION FOUR HUNDRED THOUSAND AND 00/100 DOLLARS ($2,400,000.00) NET to Seller for Buyer's purchase of the Property in an "as -is" condition payable as follows: (a) A deposit of Fifty Thousand Dollars ($50,000.00) (the " Deposit") shall be delivered to the Escrow Agent by Buyer upon full execution hereof by both Seller and Buyer, which deposit shall be held in escrow subject to the terms of this Agreement by the Escrow Agent. Buyer's Title Agent shall serve as the Escrow Agent for such funds. (b) Subject to the terms of this Agreement, the balance of the Net Purchase Price, subject to prorations and adjustments provided for herein, is to be paid in unrestricted funds at the Closing. 4. TIME FOR ACCEPTANCE AND EFFECTIVE DATE. If this offer is not accepted by execution of this Agreement by both of the parties hereto on or before October 5, 2018, this offer shall thereafter be deemed null and void. The "Effective Date" of this Agreement shall be November 5, 2015 to allow the Buyer, at Buyer's own expense, to obtain satisfactory evidence in the form of a "clean" title insurance commitment, free of issues, and the parties are ready to proceed with this transaction and, subject to the terms, conditions, and covenants contained herein below, prepared to close in accordance with the terms of this Agreement. In the event Buyer is unable to obtain a clean title commitment within thirty (30) days of the Execution Date as defined below (unless waived by Buyer) this Agreement shall terminate, Escrow Agent shall return the Deposit to Buyer and the parties shall be relieved from any further obligation to the other. 5. EVIDENCE OF TITLE. Within ten (10) business days from the execution of this Agreement by Seller and Buyer ("Execution Date") Seller shall provide to Buyer a copy of its title insurance, if any, together with a copy of all recorded documents listed as exceptions thereon, if any, and a copy of the recorded deed of conveyance into Seller showing the legal description thereof. Within thirty (30) days from the Execution Date, Buyer shall (unless waived by Buyer), at Buyer's own expense, obtain a title insurance commitment issued by a title insurance company of Buyer's choosing, agreeing to issue to Buyer, upon recording of the deed to Buyer, an Owner's Title Insurance Policy in the full amount of the purchase price paid in cash, insuring title of the Buyer to the Property, subject only to liens, encumbrances, exceptions or qualifications set forth in this Agreement as Permitted Exceptions and as set forth ori Exhibit "B" ("Permitted Exceptions"), and those which shall be discharged by PILM Page 2 of 15 Buyer's Initials Seller's Initials