Loading...
HomeMy WebLinkAboutMAPloo -Jit 4 G t i t�ia f• � F Fl S-��1Y2 v v k y t > a + � x sa q e p >` Goog[E 1 (g) Good Title, Legal Access: Seller shall execute and deliver a GENERAL WARRANTY DEED for the Property in recordable forth no later than Settlement, which shall convey fee simple marketable and insurable title, without exception for mechanics' liens, and free of any other liens, encumbrances or defects, including those which would be revealed by a current and accurate survey of the Property, except: ad valorem taxes for the current year (prorated through the date of Settlement); utility casements AfTdunviolated covenants, conditions or restrictions that do not materially affect the value of the Property; and such other hens ,en lirances or defects as may be assumed or specifically approved b Buyer in writing. The Property must have le al acces , d I '> Y P Y PP Y Y g P rty g ,�`= f� ' h pub brancet or way. f ti l (NOTE: Buyers failure to terminate this Contract prior to the expiration of the Due Diligence Period asV68suh�!,!of�any encumbrance or defect that is or would have been revealed by a title examination of the Property or a current and ace "fe survey''sshall not relieve Seller of any obligation under this subparagraph.) NI.k (NOTE: If any sale of the Property may be a "short sale," consideration should be given to atfaetiing a Short 101, (Standard Form 2A14-T) as an addendum to this Contract.) .0. (h) Deed, Taxes and Fees: Seller shall pay for preparation of a deed and all o e" 5—Iiiiiinents necessary to perform Si obligations under this Contract, and for state and county excise taxes, and any defe d, disftt ted or rollback taxes, and conveyance fees required by law. The deed is to be made to: ., (i) Agreement to Pay Buyer Expenses: Seller shall pay at Settlement associated with the purchase of the Property, including any FHA/VA lie less any portion disapproved by Buyer's lender. oward any of Buyers expenses Buyer is not permitted to pay, NOTE: Examples of Buyers expenses associated with the purchase of the Proper[ 'n_clu`de', but are not limited to, discount points, loan origination fees, appraisal fees, attomey's fees, inspection fees, and "pre -pals (tea es, insurance owners' association dues, etc.). (j) Owners' Association Fees/Charges: Seller shallgpay: (i) any fees required for confirming elkersaccount payment information on owners' association dues or assessments for �rpaym�ntr„ roration; (ii) any fees imposedy a6 "iners' association and/or a management company as agent of the owners:msssQQ�c„ ahon m pneschon with the transaction con[e�lated by this Contract other than those fees required to be paid by Buev°under aragrap 6ove; and (iii) fees iriau ed by Seller in completing the Residential Property and Owners' Associauon Disclo Statement an '''resale"o other certificates related to a proposed sale of the Property. (k) Payment of Confirmed Special Assessments: Sell amount thereof can be reasonably determined or estimated. (1) Late Listing Penalties tax late listing pen. (m) Negotiated Repai�/Improvemen ` 2 Negotiated repair Buyer shall havehght to verify sameprior to Settlement. Assessments, if any, provided that the if any, shall be paid by Seller. shall be made in a good and workmanlike manner and (n) Seller si,F ure.to Comply or Breach: If Seller fails to m hfilly comply with any of Sellers obligations under this Paragraph 8 or Seller ma erially�breaches this G�onaand $u`yerelec[s� terminate this Contract as a result of such failure or breach, then the Earnest Money Deposi hand the ,�ue%Diligence F l alI<FZief ended to Buyer and Seller shall reimburse to Buyer the reasonable costs actually incurredbyB,fl in connection with Buyer's Due Diligence without affecting any other remedies. If legal proceedings are brought byyagainst Seller to recover the Earnest Money Deposit, the Due Diligence Fee and/or the reasonable �aF;�incurred by Buy ergonnection with Buyers Due Diligence, the prevailing party in the proceeding shall be entitled to recover from Qh n-prevailing party;, easonal It attorney fees and court costs incurred in connection with the proceeding. 9. PRORATIONS )O[D NSTMENTS'.' mess otherwise provided, the following items shall be prorated through the date of Settlement and either adlu a between [hQ p es or paid at Settlement: (a) Taxes on Real Pr%rty: Ad vtZeritaxes and recurring governmental service fees levied with such taxes on real property shall be proratedon a c edaz year basis; (�) Taxes on Personal ! roperty: Ad valorem taxes on personal property for the entire year shall be paid by Seller unless the ersonal property is co veyed to Buyer, in which case, the personal property taxes shall be prorated on a calendar year basis; (cf,�Rents: Rents, if an or the Property; (d)lles Owners' ass dc�ta[ion regular assessments (dues) and other like charges. ' Page 8 of 13 STANDARD FORM 2-T Revised 7/2016 Bu er initials Seller initials p 7/2016 ProdacedwlthzlpFmm®byzlpl.cgix 18070 Fifteen Mile Road, Fraser, Michigan 18026 wuw.zioLaalx.conn McAfee Quail A V 2616 Goog.. Google Earth jd 19%1 Imagery Date: 1231d016 27-28-22.37° N 80-17'39,99' W e ev 7 h eye ay 971 h O J (e) Indemnity: Buyer will indemnify and hold Seller harmless from all loss, damage, claims, suits or costs, which shall arise out of any contract, agreement, or injury to any person or property as a result of any activities of Buyer and Buyers agents and contractors relating to the Property except for any loss, damage, claim, suit or cost arising out of pre-existing conditions of the Property and/or out of Seller's negligence or willful acts or omissions. This indemnity shall survive this Contract and any termination he`r�off,. (f) Buyer's Right to Terminate: Buyer shall have the right to terminate this Contract for any reason or no reason by del"�Bring to Seller written notice of termination (the "Termination Notice") during the Due Diligence Period (or an �'�"ag eed-upon``'�N ten extension of the Due Diligence Period), TIME BEING OF THE ESSENCE. If Buyer timely delivers [h�e ntimation Notice, this Contract shall be terminated and the Earnest Money Deposit shall be refunded to Buyer. F "\ WARNING: If Buyer is not satisfied with the results or progress of Buyers Due Diligence, Buyer" )iould termiAtke this Contract, prior to the expiration of the Due Diligence Period, unless Buyer can obtain a written extensiofrom Seller. SELLER, IS NOT OBLIGATED TO GRANT AN EXTENSION. Although Buyer may continue to investigate t e Propedy��o owing the exppi own of the Due Diligence Period, Buyers failure to deliver a Termination Notice to Seller prigr'tt�he expiration of the Due DlVl➢geagce Period shall constitute a waiver by Buyer of any right to'terminate this Contracts ea n�"ad.���y matter relating to Buyers DLt�e Diligence. Provided however, following the Due Diligence Period, Buyer may stillbexercise a£ight to terminate if Seller fails to AE'materially comply with any of Seller's -obligations under Paragraph 8 of this Con act or for any other reason permitted under terms of this Contract or North Carolina law. - (g) CLOSING SHALL CONSTITUTE ACCEPTANCE OF I 'UNLESS PROVISION IS OTHERWISE MADE IN WRITING. IN ITS\THEN EXISTING CONDITION S. BUYER REPRESENTATIONS: (a) Loan: Buyer ❑ does ❑ does not have to obtain a new loan in order to purchase loan, Buyer intends to obtain a loan as follows: El FHA ❑ VA (attach FIIA/V�A ❑ Other: loan at a ❑ Fixed Rate ❑ Adjustable Rate in plus any financed VA Funding Fee or FHA MIP for a;term of ye. % per annum (the "Loan"). ' NOTE: Buyer's. obligations under this Contrac�;t'�ar n'ot condiiioq Buyer does not have to obtain a new loan puj:order tots'purchase the documentation from Buyer which demonstrates that Buyepr will be new loan. ti. (b) Other PropertyBuyer ❑does ❑does not have `toy ell%'" complete purchase. (NOTE: This Contract oo �ed upon the sale of Buyer', Form 2A2-T is made/AZ oof this Con�tract.l Property. If Buyer is obtaining a new racing Addendum) ❑ Conventional p., ncipal amount of �'Af an initi�al;int rest rate not to exceed obtaining or closin any loan. If Buyer represents that r,Seller is advised, prior to signing this offer, to obtain ors,the Property without the necessity of obtaining a other real eroperty in order to qualify for a new loan or to property unless a contingent sale addendum such as Standard (c) Performance's6r Buyer's Financial Obligations: To the Sst f Buyers knowledge, there are no other circumstances or conditions e�i t `g of the date of this er that would prohiliduyer from performing Buyers financial obligations in accordance with this Contract except as may be�s�pecf set-fortli herein. (d) Residential Propers' Association Property Disclosure Statement (check only one): ❑ Buyer has received a Ni red copy of the N.C. Residential Property and Owners' Association Disclosure Statement prior to the .,signing of this offer. P—Buyer hasa, OT received a sign d copy of the N.C. Residential Property and Owners' Association Disclosure Statement prior to the srgmng of is offer and sti I havoth�e?, right to terminate or withdraw this Contract without penalty (including a refund of any Due Diligegg Fee) prior t'o fHEVER OF THE FOLLOWING EVENTS OCCURS FIRST: (1) the end of the third calendar day follbwinvg receipt ofAgisclosure Statement; (2) the end of the third calendar day following the Effective Date; or (3) Settlement or oKupancy by Buyer in the case of a sale or exchange. C' ❑ Exempt from N.C. Reslidential Property and Owners' Association Disclosure Statement because (SEE GUIDELINES): Page 5 of 13 initials Seller initials STANDARD FORM 2-T Revised 7/2016 © 7/2016 Produced Mth zlpForm®by zipLogix 18070 Fifteen Mile Road, Fraser, Michigan 4026 w .zioLooix.cem McAfee Quail