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a: Real estate taxes due and payable in and for the year of closing shall be <br />prorated between SELLER and BUYER to the actual date of closing. <br />b. BUYER shall assume on the date of closing, all special assessments levied <br />as of the date of this Agreement. <br />c. ~ BUYER shall assume on the date of closing, special assessments pending <br />as of the date of this Agreement for improvements that have been ordered <br />by the City Councilor other governmental assessing authorities. <br />d. SELLER shall pay on the date of closing, any deferred real estate taxes. <br />BUYER shall assume on the date of closing any deferred special <br />assessments, payment of which is required as a result of a closing of this <br />sale. <br />e. -BUYER shall pay real estate taxes due and payable in the year following <br />closing and thereafter and any unpaid special assessments payable <br />therewith and thereafter, the payment of which is not otherwise provided <br />for herein. <br />SELLER makes no representation concerning the amount of future real estate taxes or of <br />future special assessments. <br />8. SELLER'S REPRESENTATIONS AND WARRANTIES. As an essential part <br />of this Agreement and in order to induce BUYER to enter into this Agreement and to purchase <br />the Property, SELLER represents and warrants to and agrees with BUYER that: <br />a. There are no leases, purchase options, rights of first refusal, or any other <br />agreements which grant any other parry any right of use or occupancy in <br />effect with respect to the Property or any portion thereof. <br />b. SELLER will convey on the date of closing, all of the Property, free and <br />clear of all liens, security interests, leases, restrictions, charges and <br />encumbrances, other than described or attached hereto as Permitted <br />Encumbrances. <br />c. There are no management, maintenance, supply, utility or service <br />contracts or commitments relating to the Property. which will extend <br />beyond the date of closing, which are not cancelable without penalty or <br />premium upon not more than 30 days advance notice. <br />d. To the best of SELLER'S knowledge: there is no action, litigation, <br />investigation, condemnation- or proceeding of any kind pending against <br />SELLER or the Property which could adversely affect the Property, or <br />any portion thereof or title thereto. <br />2 <br />-16- <br />