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<br />(b) There must be no restriction, easement, zoning or other governmental regulation that would prevent the reasonable use of the
<br />Property for purposes ("Intended Use").
<br />(e) The Propeny must be in substantially the same or better condition at Closing as on the date of this offer, reasonable wear and tear
<br />excepted.
<br />(d) ;\II deeds of trust, liens and other charges against the Property. not assumed by Buyer, must be paid and satisfied by Seller prior to
<br />or at Closin, such that cancellation may be gromptly ibtained I-ullowin`~ Closing..Sellur shall remain obligated to obtain any such
<br />cancellations lollowin~a Closin~~.
<br />(c) "title must be delivered at Closing by GL=NER.AL ti'ARR.AN"fl' DEED unless otherwise stated herein, and must be fee simple
<br />marketable and insurable title, free of all encumbrances except ad valorem taxes for the current year (prorated throu~~h the date of
<br />Closin~~); utilir}~ easements and unviolated restrictive covenants that do not materially affect the value of the Property; and such
<br />other encumbrances as may be assumed or specifically approved by Buyer. The Propeny must have legal access to a public right of
<br />wav.
<br />~. SPECIAL ASSESSIIENTS: Seller warrants that there are no pending or confirmed governmental special assessments for
<br />sidewalk, paving, water, sewer, or other improvements on or adjoininr~ the Propeny, and no pending or confirmed o~.vners' association
<br />special assessments, except as follows: none known; if any, to be paid by seller
<br />(Insert "None" or the identification of such assessments, if any.j Seller shall pay all owners' association assessments and all
<br />governmental assessments contirnted through the time of Closing, if any, and Buyer shall take title subject to all pending assessments,
<br />if any, unless otherwise agreed as follows: none known; if any, to be paid by seller
<br />S. PROBATIONS AND ADJUSTMENTS: Unless otherwise provided, the following items shall be prorated and either adjusted
<br />between the parties or paid at Closing: (a) Ad valorem taxes on real progeny shall be prorated on a calendar year basis through .the date
<br />of Closinr,; (b) All late listing penalties, if any, shall be paid by Seller; (c) Rents, if any, for the Property shall be prorated through the
<br />date of Closing; (d) Owners' association dues and other like charges shall be prorated through the date of Closing. Seller represents
<br />that the regular owners' association dues, if any, are $ ---------------- per
<br />6. EXPENSES: Unless otltenvise agreed, Buyer shall be responsible for all costs with respect to any loan obtained by Btiyer, title
<br />search, title insurance, recording the deed and for preparation and recording of all instruments required to secure the balance of the
<br />purchase price unpaid at Closing. Seller shall pay for preparation of a deed and all other documents necessary to perform Seller's
<br />obligations under this agreement, and for excise tax (revenue stamps) required by law. Seller shall pay at Closing $ ------------
<br />toward any of Buyer's expenses associated with the purchase of the Property, including any FI-IA/VA lender and inspection costs that
<br />Buyer is not permitted to pay, but excluding any portion disapproved by Buyer's lender.
<br />7. EVIDENCE OF TITLE: Seller agrees to use his best effons to deliver to Buyer as soon as reasonably possible after the Effective
<br />Date of this contract, copies of all title information in possession of or available to Seller, including but not limited to: title insurance
<br />policies, attorney's opinions on t-itle, surveys, covenants, deeds, notes and deeds of trust and easements relating to the Property. Seller
<br />authorizes (1) any attorney presently or previously representing Seller to release and disclose any title insurance policy in such
<br />attorney's file to Buyer and both Buyer's and Seller's agents and attorneys; and (2) the Property's title insurer or its agent to release and
<br />disclose all materials in the Property's title insurer's (or title insurer's agent's) file to Buyer and both Buyer's and Seller's agents and
<br />attorneys.
<br />8. LABOR AND MATERIAL: Seller shall furnish at Closing an affidavit and indemnification agreement in fornt satisfactory to
<br />Buyer showin; that all labor and materials, if any, furnished to the Propeny within 120 days prior to the date of Closing have been paid
<br />for and agreeing to indemnify Buyer against all loss from any cause or claim arising therefrom.
<br />9. CLOSING: Closing shall be defined as the date and time of recording of the deed. All panies agree to execute any and all
<br />documents and papers necessary in connection with Closing and transfer of title on or before March 1 2007 ,
<br />at a place designated by Buyer. The deed is to be made to
<br />CLOSING SHALL CONSTITUTE ACCEPTANCE OF THE PROPERTY IN I"TS THEN EXISTING CONDITION UNLESS
<br />PROVISION IS OTHERIYISE MADE IN WRITING.
<br />10. POSSESSION: Unless otherwise provided herein, possession shall be delivered at Closing. No alterations, excavations, tree
<br />removal or other such activities may be done before possession is delivered.
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<br />%; ~ ~ STANDARD FOBI\1 12 - T
<br />Bu}cr Initials Seller Initials,, ~ brr L% '1~ ~~~ C~ 7/2(706
<br />Producetl with ZipForm~" by RE FormsNet, LLC 18025 Fifteen Mile Roatl• Clinton Township, Michigan a8035 www.zioform com Crabtree
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