Laserfiche WebLink
c. If Buyer does not provide a Notice to Proceed to Seller in accordance with <br /> Section 9(b),this Agreement automatically terminates, and Escrow Agent must <br /> disburse all Earnest Money Escrow Agent holds to Buyer. <br /> d. At Closing, Escrow Agent shall disburse to Seller any Earnest Money not <br /> previously disbursed to Seller, and Buyer shall receive a credit against the <br /> Purchase Price owing at Closing in an amount equal to the amount of the Earnest <br /> Money. <br /> 5. SURVEY. Seller has provided the Buyer a 2016 Minimum Standard Detail <br /> Requirements for ALTA/NSPS Land Title Surveys,jointly established and adopted by <br /> ALTA and NSPS, and includes Items: 1, 2, 3, 4, 5, 7a, 8, 11, and 14 of Table A thereof <br /> for the underlying legal (the "Survey") from a duly licensed surveyor dated March 5, <br /> 2018. Buyer may arrange with the surveyor to include additional information on the <br /> Survey at Buyer's expense. <br /> 6. TITLE COMMITMENT. <br /> a. Seller makes no representations or warranties with respect to the status of title to <br /> the Property. Within thirty(30) business days after the Effective Date, Seller <br /> shall, at Seller's expense, obtain a commitment from Escrow Agent to issue an <br /> owner's policy of title insurance insuring Buyer's title to the Property(the "Title <br /> Commitment") and deliver the Title Commitment and copies of or internet access <br /> to copies of all recorded documents referenced in the Title Commitment to Buyer. <br /> b. Buyer shall have until the date thirty (30) days after the receipt of the Title <br /> Commitment and the Survey (collectively, "Title/Survey")to review <br /> Title/Survey and to give Seller written notice of(i) any defects in the <br /> marketability of Seller title to the Property or any encumbrances on Seller's title <br /> to the Property that are objectionable to Buyer, and(ii)the specific actions Buyer <br /> requests that Seller take with respect to each.such defect or encumbrance (a"Title <br /> Objection Notice"). Any defects in or encumbrances on Seller's title that Buyer <br /> does not identify in a timely Title Objection Notice are each a"Permitted <br /> Exception." Within three (3) business days after Seller's receipt of a Title <br /> Objection Notice from Buyer, Seller will notify Buyer, in writing, of the actions, <br /> if any, that Seller is willing to take with respect to each of the matters identified in <br /> the Title Objection Notice and the time frame in which Seller will take those <br /> actions ("Seller's Title Notice"). If Seller's Title Notice indicates that Seller <br /> unconditionally agrees to make Seller's title to the Property marketable on or <br /> before the closing date established pursuant to Section 10,the parties shall <br /> proceed to closing pursuant to the terms of this Agreement. If Seller's Title <br /> Notice indicates that Seller does not unconditionally agree to make Seller's Title <br /> to the Property marketable on or before the closing date established in Section 10, <br /> Buyer may, at any time with three (3) business days after Buyer's receipt of <br /> Seller's Title Notice, terminate this Agreement by written notice to Buyer in <br /> which case this Agreement is terminated and Escrow Agent must disburse any <br /> Page 2 of 13 <br />