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reveals any title matters not constituting Permitted Exceptions which are not acceptable to <br />Purchaser, Purchaser will promptly notify Seller of such title objections in writing and thereafter <br />Seller shall have a period of thirty (30) days to notify Purchaser in writing whether or not Seller <br />elects to cure any such title objections. If Seller elects to cure the title objections, Seller shall <br />have a reasonable time to cure such objections, but in no event later than thirty (30) days prior to <br />the Closing Date (as defined below) or as otherwise may be agreed upon by Seller and <br />Purchaser. If Seller elects not to cure the title objections or fails to notify Purchaser within the <br />required thirty (30) day period whether or not Seller elects to cure such title objections, <br />Purchaser shall have the right within ten (10) days to either: terminate this Agreement (in which <br />event this Agreement shall then be deemed null and void, none of the parties hereto shall then <br />have any further obligation to any other party hereto or to any third party; or to waive the title <br />objections and proceed to Closing as set forth in this Agreement. <br />7. Closing. The closing of the sale of the Property to Purchaser (the "Closing") shall <br />occur on January 4, 2005, or as soon thereafter as practicable (the "Closing Date"). Time is of the <br />essence as to the Closing Date. The Closing shall be at Seller's attorney's office or another location <br />mutually agreeable to Seller and Purchaser. At Closing, Seller shall deliver to Purchaser the <br />following items: <br />(a) Deed. A validly executed General Warranty Deed with English Covenants <br />of Title, in recordable form, conveying marketable fee simple title to the Property, free and clear of <br />all conditions, restrictions, liens, encumbrances, agreements and other title matters except the <br />Permitted Exceptions (the "Deed"); <br />(b) Lien Affidavit. An affidavit (the "Lien Affidavit") executed by Seller in <br />form and substance acceptable to the Title Company certifying that the Property is free from claims <br />for mechanics' and materialmen's liens, as well as the rights or claims of any parties in possession, <br />except any such claims or rights arising as a result of Purchaser's occupancy of the Property <br />pursuant to its Lease. Furthermore, Seller agrees to execute and deliver at Settlement such additional <br />documents or indemnities as may be required by Purchaser's title insurance company in order to <br />delete from a title insurance policy all standard exceptions for unfiled mechanic's materialmen's or <br />similar liens (other than exceptions approved by Purchaser related to the Leases); <br />(c) FIRPTA Certificate. A certificate executed by Seller as to income tax status <br />and matters related to Section 1445 of the Internal Revenue Code, ("IRC") or other evidence <br />satisfactory that Seller has complied with IRC Section 1445, including establishment of escrow until <br />the withholding requirements of IRC Section 1445 have been met. Purchaser agrees to reasonably <br />co-operate with Seller on such compliance provided that Purchaser does not incur any added <br />expense in so doing; <br />(d) Form 1099 Certificate. A certificate executed by Seller as to the reporting of <br />certain real estate transactions required by IRC Section 6045(e); <br />(e) Seller's Resolutions. Appropriate resolutions of Seller evidencing Seller's <br />• authority to sell the Property to Purchaser; <br />4 <br />