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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 of a default by the County, the Seller shall be entitled, as its sole remedy hereunder, to terminate this Agreement, and neither the Seller nor any other person or party shall have any claim for specific performance, damages or otherwise against the County. 5 .2 In the event the Seller shall fail to perform any of its obligations hereunder, the County shall be entitled to : (i) terminate this Agreement by written notice delivered to the Seller at or prior to the Closing Date, and pursue all remedies available hereunder and under applicable law; (ii) obtain specific performance of the terms and conditions hereof; or (iii) waive the Seller ' 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 45 days following the Effective Date of this Agreement . The parties agree that the Closing shall be as follows : (a) The Seller shall execute and deliver to the County a warranty 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 Seller shall have removed all of its personal property and equipment from the Property and Seller shall deliver possession of the Property to County vacant and in the same or better condition that existed at the Effective Date hereof. (c) If Seller is obligated to discharge any encumbrances at or prior to Closing and fails to do so, County may use a portion of Purchase Price funds to satisfy the encumbrances. (d) The Seller shall deliver to the County an affidavit, in form acceptable to the County, certifying that the Seller is not a non-resident alien or foreign entity, such that the Seller and such interest holders are not subject to tax under the Foreign Investment and Real Property Tax Act of 1980 . (e) The -Seller and the County shall each deliver to the other such other documents or instruments as may reasonably be required to Close this transaction. 6 .2 Closing Procedure , Costs : ( 1 ) Title Evidence : Seller will provide an owner' s title insurance commitment as title evidence . Seller will pay for the owner' s title policy, search, examination and related charges . (2) Seller Costs : Seller will pay taxes on the deed; recording fees for documents needed to cure title and title evidence as in Paragraph 6 . 2( 1 ) . (3 ) Buyer Costs : Buyer will pay recording fees on the deed; survey and sketch. 7 . Prorations . All taxes and special assessments which area lien upon the property on or prior 2 F:\Engineering\RonC\Word Docs\Beason-bell Agreement.doc Standard Real Estate Agreement — Beason/Bell