HomeMy WebLinkAbout0129recording charges and tax revenue stamps, if any, and
_~ Buyer shall. pay all charges for title insurance. Each
` of the tracts and improvements and personalty thgreon
shall be accepted by Buyer in whatever condition it is in
at the time of the consummation of the sale and the
Seller makes no warranties with regard to the condition
of any of the tracts. It is expressly agreed and under-
stood that there shall be no rental abatement in_the
rent due Seller pursuant to the aforesaid lease in the
event Buyer exercises the option for less than the three
(3) tracts. Upon Seller's request, Seller and Buyer
shall enter into a contract of sale for each tract for
which Buyer has exercised his option, which contract
shall be dated as of the date of the exercise of the
option and which contract shall be pursuant to the terms
and conditions of this agreement.
3. The options shall be exercised in .writing, hand
delivered to the Seller or sent to the Seller
by certified or registered mail to such addressee and at
such address as Seller may, from time to time, advise
Buyer in writing, with a certified check, cashier's check
or money order in an amount equal to one-half (1/2) of the
purchase price for the tract for ~ ich the option is be-
ing exercised as earnest money. Such earnest money de-
posit is to be applied to the purchase price for the sub-
ject tract if the transaction is consummated as herein
provided, retained ~ by the Seller if the transaction
is not consummated at no fault of the Seller, and re-
turned to Buyer if the Seller is unable to consummate
the transaction. Within fifteen (15) days after the
exercise of the option for any tract, purchaser will
deposit by certified check, cashier's check or money or-
der all of the remaining purchase price for the subject
tract in an escrow to be opened at the Chicago office
of Chicago Title and Trust Company, or with such other
escrowee as the Seller shall elect and which shall be
acceptable to Buyer. Within fifteen~(15j days after the
remaining purchase price for a tract has been deposited,-
as aforesaid, the Seller will deposit in said escrow a
quit claim bill of sale and a quit claim deed for the
subject tract and related personal property, conveying
-3 eooK 179 ~c~ ~~