6555 - Laserfiche WebLink

Home Browse Search

43 Terms: 44 45 46 0 47 48 ~ 49 50 5. 51 52 53 54 55 56 57 58 59 60 61 62 63 64 65 6. 66 67 68 69 70 71 72 73 74 75 76 77 78 79 80 81 82 83 84 85 86 87 88 89 90 91 92 93 94 95 96 97 98 37745645 Assumption by Buyer of Existing Note and Deed of Trust. (See rider #2105) or Seller to Take Back Note and Deed of Trust. (See rider #2097) Not Contingent Upon Financing. This contract is not contingent upon financing, however, Buyer reserves the right to finance any portion of the purchase price. CLOSING AND POSSESSION The "Closing" is the exchange of the deed for the purchase price. The closing of this sale shall take place on June 23, 2005 , or any other date that both parties agree. Buyer will close at Old Republic Title, Clayton, MO , the title company which provides title insurance. Regardless of who closes for Buyer, Seller may close at the title company of Seller's choice. Title will pass when the sale is closed. Possession of the property and keys to be delivered to Buyer no later than Closing m. of . (Note: If possession is on a day other than day of closing, parties should complete the appropriate rider to this contract.) Broker is not responsible for delivery of keys and it is recommended that Buyer change locks following possession. Deed as directed by Buyer. Except for tenants lawfully in possession. Seller warrants that the property will be vacant as of time of possession and delivered to Buyer in its present condition (together with any improvements or repairs required by this contract, ordinary wear and tear excepted). Buyer and Seller authorize title company and/or closing agent to release to broker(s) signed copies of the closing statements. TITLE AND SURVEY. Seller shall transfer title to Buyer by general warranty deed (or fiduciary deed, where applicable), subject to the following: a) zoning regulations; b) leases and occupancy of tenants existing on the date contract is executed by Buyer and disclosed to Buyer in writing before execution of contract by Buyer; c) general taxes payable in the current year and thereafter; d) any lien or encumbrance created by or assumed by Buyer in writing or any easement accepted by Buyer in writing; e) subdivision, use and other restrictions, rights of way and utility easements, all of record, which do not adversely affect the use of the property as it exists for residential purposes at the time of the contract. Check box (whether "Seller to Order, Provide and Purchase Title" or "Buyer to Order and Purchase Title"). o Seller To Order, Provide and Purchase Title. Not later than days (5 if none stated) after the "Acceptance Deadline" date, Seller will order a commitment for title insurance to be provided to the Buyer for both an Owner's policy. of title insurance and for a Lender's policy of title insurance (if required by lender) in the latest AL TA form including mechanics lien coverage from the title company selected in paragraph 5. Seller and Buyer authorize and direct the. title company to furnish this commitment to the selling and listing Broker. Seller shall pay for the title insurance, at closing, at a cost notto exceed . Buyer to pay title cost exceeding this amount. ~ Buyer to Order and Purchase Title. Buyer may, at Buyer's option and expense, order a title examination and a commitment to issue an owner's and/or lender's policy of title insurance in the latest AL TA form including mechanics lien coverage from the title company specified in paragraph 5. (Note: This should be ordered promptly after contract acceptance in order to allow sufficient time to obtain and review documents, and, if necessary, object to defects that may be discovered.) Buyer may, at Buyer's option and expense, order a Boundary Survey and Improvement Location ("stake survey") or a Surveyor's Real Property Report ("spot survey") of the property to determine if there are any defects, encroachments, overlaps, boundary line or acreage discrepancies, or other matters that would be disclosed on a survey. Note: A "stake survey" is generally required In order to obtain full survey coverage in an owner's policy of title insurance. A "spot survey" is the minimum report normally required by a lender and it mayor may not disclose all of the defects involving such matters as encroachments, overlaps, boundary line or acreage discrepancies. 20(6