2018-178A (2) - Laserfiche WebLink

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By Seller: (a) A Special Warranty Deed, in recordable form, by which Seller shall convey the Property to Buyer, subject only to the Permitted Exceptions and Deed Restrictions; (b) Such license termination and/or assignment documents related to the existing licenses for use of the Property. (c) Such other items, instruments, or affidavits as may be required for issuance of an Owner's Title Insurance Policy as contemplated herein. By Buyer: (a) Easement Deeds and other documents as necessary to convey to Seller easements to be retained by Seller. (I.e., utility and drainage easements; avigation easement). 16. AD VALOREM TAXES. Buyer recognizes that Seller, in its capacity as a municipality, is exempt from the payment of ad valorem taxes on the Property. Buyer shall be solely responsible for the payment of ad valorem taxes commencing as of the Closing, if assessed, and assessed or accruing thereafter, and Seller shall have no liability for the payment of any taxes that may have previously accrued or been assessed against the Property or any interest thereon. 17. LIENS. Buyer understands that the Property, being owned by Seller in its capacity as a municipality, is not subject to claims of lien. However, Seller, consistent with the requirements of insuring title, shall furnish to Buyer at time of Closing an affidavit attesting to the absence, unless otherwise provided for herein, of any financing statements, claims of lien, or potential claimants or lienors known to Seller and further attesting that there have been no improvements to the Property authorized by or for Seller for ninety (90) days immediately preceding date of Closing. 18. EXPENSES. All closing costs, including, but not limited to, the cost of the title insurance policy, the cost of recording the deed, bill of sale, any mortgage, and all other fees and costs in connection therewith (i.e. documentary tax) shall be paid by Buyer. The cost of recording any corrective instruments or releases to provide clear title to Buyer, and easements conveyed to Seller or the public at Closing, shall be paid by Seller. 19. , ESCROW. The Escrow Agent receiving funds pursuant to this Agreement is authorized and agrees by acceptance thereof to promptly deposit and to hold same in escrow and to disburse same subject to clearance thereof in accordance with the terms and conditions of this Agreement. Failure of clearance of funds shall not excuse performance by the Buyer. In the event of doubt as to his duties or liabilities under the provisions of this Agreement, the Escrow Agent may in his or her sole discretion, continue to.hold the monies which are the subject of this escrow until the parties mutually agree to the disbursement thereof, or until a judgment or a court of competent jurisdiction shall determine the rights of the parties thereto, or he may deposit all the monies then held pursuant to this Agreement with the Clerk of the Circuit Court of Indian River County in conjunction with filing of the appropriate action, -and upon notifying all pAtp rties goncerned of such action, all liability on the part of the Escrow Agent shall fully Page 7 of 15 Buyer's Initials Seller's Initials