Agenda - 08-27-2012 - C2 - Laserfiche WebLink

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8.4 Inte�-pleader. Except�s p�•ovided�n Para�raph 8.2, Seller and Purchaser mutually agree that it�t��e event of any controversy re�;a�r3irtg t�?e :�r�est��toney, u�!es,mah�aI w;�itten instructions are received by the Titie Company direeting tl�e�arnes:l�loney's dispasiiian, the Ti�le Cotn�,�y shali not take any action,but instead shall await the disposition of ae2y pr�c.:eding r�;l�ting tc� the E�rtiest�oney or, �t the Title Company's option, the Title Company may inter�tead a,i p��:..ies a�d de�o,it the �arnest Money vrith a court of cornpetant jurisdictian in which event the Titie Company n�ay i•e,over ?11 of iis ca�.�?-t cos�s and reasoi�able attorneys' feas. Selier or Purchaser, urhichever loses in any sizch interpteadr:r aati�n, sha11 be sc�!e1y o�,1ig.�ted to pay such costs and fees af the TitEe Company, as well as the reasc�:table attc,n�eyr° f�es of ttic�revaii.tu�;pacty in accordauce with the other provisions of this Agreernent, 8.5 �,iabiJi?�r�o�Tit?.e Con�pany_ The n�rfies er.kno�uledga tl�at the Titie Company is acting solely as a s#akeholder at their rec}uest su�ct for their convenien�e,that the'Citle Campany shatl��ot be deemed to be the agen4 of either of tYte parties, a�id tl�at the�`itle Compac�y shall nof�e liable ta eittter of the parGies for any acfion or omission on its part talcen or 3ua�ie in good faith. a��d not in disre�a.rd of this Agreement, but sha11 be tial�le for its negligent acts and for any loss,cost ar expense inc��rr�t�by Seiler or Purchaser resuiting from the Title Ca�pany's tzaistake af law respecting the Tit}e Coz�lpany's sct�pe ar nat��re af i#s duties. Saller and Pur�haser shall jaintly and sever�lly iIltfemt�ify and hold the T'stle Company harmless fro�n and against al( casts, claims and expenses, including reasonable at�omeys' fees, incurred i�t conneciio�i witf� th� par�'�ra2ance af E�'�e Title Gompa�y's duties hereunder, except with respect tc� actia�s or ornissic�ns taken or made by the T3tIe Cotnpany in bad faith, in dfsregard �f this Agree�nent or invoiving negti�ence on the par#Qft}3e Title Can�pany. 8•6 Escro�� Fee. Exctipt �s �xpr�ssl�� provzdec[ her�iri io the contrary, I'urchaser agrees ta pay a reasonable escro�v fse ct�argPd by tiie 1'i�l��arnpaay for haldi�zg ttie Earnast�ilaney ar co�ducting the Clasing. ARTICLE�:MISCELLAN�f�US 9•I Cai�3tnission.s. If the purchase and sate contemplated h�rein occurs, Seller wi11 pay Braker a faur percent (4°!0} c�mmissian at Closinb, �e11er and F�r��aser represent and warrant aaeh to the other that with the exception of Braker they �ave nat dealt +�rith any real estate braker, sal�s psrson or finder in connection with this transaction_ in the svent of any cEaim for brnker's cammissions,finder's fees ar similar campensation in aonnection with the negotiation, executian c�r consummatiQn of this Agreeartent or the�ransactic�ns cc�ntemplated hereby, each part}r shall indemnify and haid hat'm}ess th�other partv fi•om and against any such cla�trt based upt�n any s�#ement, representatian or agreement c�f sucl�pai'ty. 9.2 Parties�iound. This A�reerne��sitall be bintiing u�on and inure ta the bene�t of Seiter's heits and representatives and the parties'respecrive successois and assi�ns af the p�-#ies. 9.3 �ther t�ffers_ L)w�ing the p�ndency af thas�.greeinent, Selier wi11 not enter intcs any cantracts o�. agreements {t�hether binding or nat) regarding auy dispasition of the Property. Natwitl�standing �he faregQing, Salter may engage in discussians with third parti�s regarding the Property and a possib7e a back—up position shouJc! this Contract tenninate. �uch disc�zssions shall not inctud�arty mentian af the tarnls ar conditions eontained herein, which 5eiler agrees to k�ep confdentiaE. B�yer a��ozv[edges�hat Seller may enter into a lease for all or a pflrtian of die Property prc�vided stach tenant cfoes nat interfere with Pzu�chaser's inspections,testing and other aperatyons on the Prc�perty and is raquired to varate the PE•operty zto Iess#.han#hirty(3Q)days prlar Yo Closing. 9.4 Conditions ta Gia_sin�. It sliall t�e a con�ition to each parEy°s obligatio� to close that the atttter parEy's representations and warranties hereiu contained are t�e �s all materiai respecis as of tYte Date af fi�is Agreement. 9.5 Headit��s. The article and paragrapl� headings of fhis Agreement are for canf�enience anly and in no way limit ar enlarge tt�e sco�e or meaning of tl�e languag�13ereof. 9.� InvaIidity and Waiver. If any poition oi th[s�greentent is held invatad or inoperative, then sa far as is reasanab6e ar�d possible t4xe remait�der of ti�is Agr�emer2t shall be deemed valid and oparative, and effact shaEl be given to the intent manifested by the partion heid invalid or mop�rative. The failure by either party to enforce _g..