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05-13-2002 Council Packet
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05-13-2002 Council Packet
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(i) execute and/or deliver to the closing agent, with copies to <br />Buyer, and make arrangements to have the closing agent record <br />or file in the appropriate county land records any documents <br />nece^saiy to establish the marketability of Seller's title to the <br />Property, subject to Permitted Encumbrances; <br />(ii) execute and deliver to Buyer the Deed described in Section 5 <br />above; <br />(iii) execute and deliver to Buyer and the closing agent such other <br />forms and affidavits as are customarily required; <br />(iv) pay one-half ('/s) of the closing fee. <br />(b) Buyer shall: <br />(i) Tender the Purchase Price to Seller pursuant to the provisions <br />of Section 4 above; <br />(ii) Pay the premium for Buyer's owner's policy of title insurance, <br />if any; the fees and transfer tax, if any, due upon recording the <br />deed from Seller to Buyer; and one-half of the closing agent's <br />fee to conduct and insure the closing of this transaction : and <br />(iii) Execute and deliver such conveyance forms and affidavits as <br />the closing agent may reasonably require; and^ <br />8. Evidence of Title. Within thirty (30) days of the Effective Date of <br />this Agreement, Seller shall, at Seller's sole cost and expense, deliver the <br />following to Buyer: <br />A commitment from a title insurer reasonably acceptable to Buyer <br />("Title") to issue an ALTA Owner's Policy of Title Insurance, in the <br />amount of the Purchase Price to insure Buyer's title to the Property <br />(the "Title Commitment"), including copies of documents referenced <br />in Schedule B-1 or B-2 thereof; <br />HC26DS2/ 4715/ 267221 1 vl(RED) 14 2002 J
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