2015-182 - Laserfiche WebLink

Home Browse Search

which would impair or otherwise affect title to any portion of the Property, and shall record no documents in the Public Records which would affect title to the Property, without the prior written consent of the Buyers. 4 3 There are no existing or pending special assessments affecting the Property, which are or may be assessed by any governmental authority, water or sewer authority, school district, drainage district or any other special taxing district. 5. Default. 5.1 In the event the Buyers shall fail to perform any of its obligations hereunder, the County shall, at its sole option, be entitled to. (i) terminate this Agreement by written notice delivered to the Buyers at or prior to the Closing Date and thereupon retain the Escrowed Funds as liquidated damages. Neither the County nor any other person or party shall have any claim for specific performance, damages, or otherwise against the Buyers; or (ii) waive the Buyer's default and proceed to Closing. 5.2 In the event the County shall fail to perform any of its obligations hereunder, the Buyers shall, at its sole option, be entitled to terminate this Agreement by written notice delivered to the County at or prior to the Closing Date and thereupon neither the Buyers nor any other person or party shall have any claim for specific performance, damages or otherwise against the County; or (ii) waive the County's default and proceed to Closing. 6. Closing. 6 1 The closing of the transaction contemplated herein ("Closing" and "Closing Date") shall take place within 30 days following the Effective Date of this Agreement. The parties agree that the Closing shall be as follows (a) The County shall execute and deliver to the Buyers a County Deed conveying marketable title to the Property, free and clear of all liens and encumbrances and in the condition required by paragraph 3. (b) The County shall have removed all of its personal property and equipment from the Property and the County shall deliver possession of the Property to Buyers vacant and in the same or better condition that existed at the Effective Date hereof. (c) If County is obligated to discharge any encumbrances at or prior to Closing and fails to do so, Buyers may use a portion of Purchase Price funds to satisfy the encumbrances. (d) If the County is a non-resident alien or foreign entity, County shall deliver to the Buyers an affidavit, in a form acceptable to the Buyers, certifying that the County and any interest holders are not subject to tax under the Foreign Investment and Real Property Tax Act of 1980. -2-