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17 <br /> Buyer shall have the right to verify same prior to Settlement. <br /> (n) Seller's Failure to Comply or Breach: If Seller fails to materially comply with any of Seller's obligations under this <br /> Paragraph 8 or Seller materially breaches this Contract, and Buyer elects to terminate this Contract as a result of such failure or <br /> breach,then the Earnest Money Deposit and the Due Diligence Fee shall be refunded to Buyer and Seller shall reimburse to Buyer <br /> the reasonable costs actually incurred by Buyer in connection with Buyer's Due Diligence without affecting any other remedies. If <br /> legal proceedings are brought by Buyer against Seller to recover the Earnest Money Deposit, the Due Diligence Fee and/or the <br /> reasonable costs actually incurred by Buyer in connection with Buyer's Due Diligence,the prevailing party in the proceeding shall <br /> be entitled to recover from the non-prevailing party reasonable attorney fees and court costs incurred in connection with the <br /> proceeding. <br /> 9. PRORATIONS AND ADJUSTMENTS: Unless otherwise provided, the following items shall be prorated through the date of { <br /> Settlement and either adjusted between the parties or paid at Settlement: <br /> (a) Taxes on Real Property: Ad valorem taxes and recurring governmental service fees levied with such taxes on real property <br /> shall be prorated on a calendar year basis; <br /> (b) Taxes on Personal Property: Ad valorem taxes on personal property for the entire year shall be paid by Seller unless the <br /> personal property is conveyed to Buyer,in which case,the personal property taxes shall be prorated on a calendar year basis; <br /> (c)Rents:Rents,if any,for the Property; <br /> '(d)Dues: Owners' association regular assessments(dues)and other like charges. <br /> 10.HOME WARRANTY: Select one of the following: <br /> ❑No home warranty is to be provided by Seller. <br /> ❑ Buyer may obtain a one-year home warranty at a cost not to exceed$ which includes sales tax and Seller agrees <br /> to pay for it at Settlement. <br /> ❑ Seller has obtained and will provide a one-year home warranty from <br /> at a cost of$ which includes sales tax and will pay for it at Settlement. <br /> NOTE: Home warranties typically have limitations on and conditions to coverage. Refer specific questions to the home warranty <br /> company. <br /> 11. CONDITION OF PROPERTY AT CLOSING: Buyer's obligation to complete the transaction contemplated by this Contract <br /> shall be contingent upon the Property being in substantially the same or better condition at Closing as on the date of this offer, <br /> reasonable wear and tear excepted. <br /> 12. RISK OF LOSS: The risk of loss or damage by fire or other casualty prior to Closing shall be upon Seller. If the improvements <br /> on the Property are destroyed or materially damaged prior to Closing,Buyer may terminate this Contract by written notice delivered to <br /> Seller or Seller's agent and the Earnest Money Deposit and any Due Diligence Fee shall be refunded to Buyer.In the event Buyer does <br /> NOT elect to terminate this Contract,Buyer shall be entitled to receive,in addition to the Property, any of Seller's insurance proceeds <br /> payable on account of the damage or destruction applicable to the Property being purchased. Seller is advised not to cancel existing <br /> insurance on the Property until after confirming recordation of the deed. <br /> 13. DELAY IN SETTLEMENT/CLOSING: Absent agreement to the contrary in this Contract or any subsequent modification <br /> thereto,if a party is unable to complete Settlement by the Settlement'Date but intends to complete the transaction and is acting in good <br /> faith and with reasonable diligence to proceed to Settlement ("Delaying Party"), and if the other party is ready, willing and able to <br /> complete Settlement on the Settlement Date("Non-Delaying Party")then the Delaying Party shall give as much notice as possible to <br /> the Non-Delaying Party and closing attorney and shall be entitled to a delay in Settlement. If the parties fail to complete Settlement <br /> and Closing within fourteen (14) days of the Settlement Date (including any amended Settlement Date agreed to in writing by the <br /> parties) or to otherwise extend the Settlement Date by written agreement, then the Delaying Party shall be in breach and the Non- <br /> Delaying Party may terminate this Contract and shall be entitled to enforce any remedies available to such party under this Contract <br /> for the breach. <br /> 14. POSSESSION: Possession, including all means of access to the Property (keys, codes including security codes, garage door <br /> openers,electronic devices,etc.),shall be delivered upon Closing as defined in Paragraph 1(m)unless otherwise provided below: <br /> ❑A Buyer Possession Before Closing Agreement is attached(Standard Form 2A7-T) <br /> ❑A Seller Possession After Closing Agreement is attached(Standard Form 2A8-T) <br /> ❑Possession is sub'ect to rights of tenant(s) <br /> NOTE: Consider attaching Additional Provisions Addendum(Form 2A11-T)or Vacation Rental Addendum(Form 2A13-T) <br /> 15. ADDENDA: CHECK ALL STANDARD ADDENDA THAT MAY BE A PART OF THIS CONTRACT, IF ANY, AND <br /> ATTACH HERETO.ITEMIZE ALL OTHER ADDENDA TO THIS CONTRACT,IF ANY,AND ATTACH HERETO. <br /> Page 10 of 16 <br /> STANDARD FORM 2-T <br /> Buyer's Initials Seller's Initials Revised 7/2018 <br /> ©7/2018 <br />