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02/09/23
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02/09/23
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ARTICLE VI <br />DEED AND OTHER DOCUMENTS <br />6.01 Limited Warranty Deed. Seller shall, at the Closing, convey fee simple title to the <br />Property to Buyer by a duly and validly executed, recordable limited warranty deed (the "Deed"), <br />free and clear of all liens and encumbrances, except those permitted pursuant to the provisions <br />of Section 5.01 hereof. <br />6.02 Right of Re -Entry Agreement. Buyer shall execute and deliver to Seller on the <br />Closing Date a right of re-entry agreement in the form attached hereto as Exhibit D. <br />6.03 Other Documents. Buyer and Seller agree that such other documents as may be <br />legally necessary or appropriate to carry out the terms of this Agreement shall be executed and <br />delivered by the appropriate party at Closing. Such documents shall include, but not be limited <br />to the ECR, Escrow Agreement (defined below), the Lot Split Documents, a closing statement, <br />the most recent real estate tax bill(s), a certificate as to Seller's status under the Foreign <br />Investment in Real Property Tax Act, Seller's affidavit regarding liens (mechanics' or other), <br />unrecorded matters and parties in possession and, if requested, Seller's affidavit regarding the <br />warranties and representations set forth in Article XI hereof. <br />ARTICLE VII <br />POSSESSION AND INSPECTION <br />7.01 Possession at Closing. Subject to Seller's obligation to perform and complete <br />Seller's Site Obligations (defined below), Buyer shall be entitled to full and exclusive possession <br />of the Property as of the Closing Date. <br />7.02 Inspection. For and during the continuance of this Agreement, Seller shall afford <br />all representatives of Buyer free and full access to the Property, for inspection and examination, <br />at reasonable times. This privilege shall include the right to make surveys, site plans, renderings, <br />soil tests, environmental inspections, borings, percolation tests and other tests to obtain any <br />relevant information necessary to determine subsurface, topographic and drainage conditions <br />and the suitability of the Property for use and development by Buyer. Buyer shall indemnify and <br />hold harmless Seller for any loss, cost or liability incurred by Seller due to Buyer's entry onto the <br />Property pursuant to this Section 7.02. <br />ARTICLE VIII <br />CLOSING <br />8.01 Closing Date. The purchase and sale of the Property shall be closed (the <br />"Closing") within 30 days after the Contingency Date, which Closing date may be extended by <br />agreement of the parties and shall be extended by such time, if any, as is necessary to cure <br />Defects, as set forth in Section 5.04 hereof. The date upon which the Closing occurs is referred <br />to herein as the "Closing Date". The Closing shall be completed with the use of electronic mail <br />and overnight courier services through the Escrow Agent and without the need of either party <br />actually attending the Closing in person. <br />8 <br />B: <br />S: <br />
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