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Date <br /> <br />Page 3 of 4 Pages <br /> <br />title and within 10 days after written notice to BUYER the parties <br />shall perform this Purchase Agreement according to its terms. If <br />no such notice is given or if notice is given but title is not <br />corrected within the time provided for, this Purchase Agreement <br />shall be null and void, at option of BUYER~ neither party shall be <br />liable for damages hereunder to the other and earnest money shall <br />be refunded to BUYER; BUYER and SELLER agree to sign cancellation <br />of Purchase Agreement. <br /> <br />10. REAL ESTATE TAXES: shall be paid as follows: <br /> <br />BUYER shall pay, prorated from day of closing, real estate taxes <br />due and payable in the year 1997. <br /> <br />SELLER shall pay real estate taxes due and payable in the year <br />1996. <br /> <br />In the event the closing date is changed, the real estate taxes <br />paid shall, if prorated, be adjusted to the new closing date. <br />SELLER warrants taxes due and payable in the year 1998 will be non- <br />homestead classification. Neither SELLER nor Agent(s) make any <br />representation concerning the amount of subsequent real estate <br />taxes. <br /> <br />SELLER represents there are no special assessments pending or <br />levied against the Property. <br /> <br />SELLER warrants that the Property does not receive preferential tax <br />treatment. (i.e., Green Acres, etc.) <br /> <br />11. ACCEPTANCE: BUYER understands and agrees that this Purchase <br />Agreement is subject to acceptance by SELLER in writing. <br /> <br />12. INSPECTION: BUYER has the right to inspect the property prior <br />to closing. <br /> <br />13. MECHANIC'S LIENS: SELLER WARRANTS THAT AS OF THE DATE HEREOF, <br />PAYMENT IN FULL WILL HAVE BEEN MADE FOR ALL LABOR, MATERIALS, <br />MACHINERY, FIXTURES OR TOOLS FURNISHED WITHIN THE 120 DAYS <br />IMMEDIATELY PRECEDING THE DATE HEREOF IN CONNECTION WITH <br />CONSTRUCTION, ALTERATION OR REPAIR OF ANY STRUCTURE ON OR <br />IMPROVEMENT TO THE PROPERTY. <br /> <br />14. GOVERNMENTAL COMPLIANCE: SELLER WARRANTS THAT SELLER HAS NOT <br />RECEIVED ANYNOTICE FROM ANYGOVERNMENTAL AUTHORITY AS TO VIOLATION <br />OF ANY LAW, ORDINANCE OR REGULATION. IF THE PROPERTY IS SUBJECT TO <br />RESTRICTIVE COVENANTS, SELLER WARRANTS THAT SELLER HAS NOT RECEIVED <br />ANY NOTICE FROM ANY PERSON OR AUTHORITY AS TO A BREACH OF THE <br />COVENANTS. ANY NOTICES RECEIVED BY SELLER WILL BE PROVIDED TO <br />BUYER IMMEDIATELY. <br /> <br /> I <br /> I <br /> I <br /> I <br /> I <br /> I <br /> I <br /> I <br /> I <br /> I <br /> I <br /> I <br /> I <br /> I <br /> <br /> I <br /> I <br />I <br />I <br /> <br /> <br />