R2014-135 AUTHORIZING REAL ESTATE CONTRACT

Home Browse Search

thereof. Title may be subject only to the following exceptions: (i) Easements, restrictions and reservations of record on the date hereof; (ii) Building and use restrictions; (iii) Special assessments levied for local improvements; (iv)Zoning regulations and ordinances affecting the Premises; and, (v) The lien of current general real estate taxes. 3.3 Both Seller and Buyer agree: (a)To comply with the requirements of the Real Estate Settlement Procedures Act; (b)At any time after the date hereof,with advanced approval of Seller,architects and engineers of Buyer shall have reasonable access to the Premises during business hours for the purpose of measurement and preparation of design plans for Buyer,provided such access cannot interfere with the usual business of Seller performed on the Premises. Buyer shall indemnify and hold Seller harmless from and against all losses,costs,damages and liabilities arising out of Buyer or any of its employees, agents or contractors entering the Premises. 3.4 Closing.The time and place of settlement on the date of closing shall be fixed by mutual agreement of the parties not more than 30 days after the effective date of this agreement. At the settlement Buyer shall deliver to Seller or cause to be paid: (i) All documents as Seller's counsel may reasonably require. (ii) An amount equal to the cost of recording any release of indenture of mortgage or trust deed; and, (iii) An amount equal to the cost of Illinois revenue stamps if required to be affixed to Seller's quitclaim deed. (iv) An amount equal to any and all costs associated with the transfer of ownership to Premises including but not limited to any real estate taxes unpaid and due after the date of closing prorated to the date of closing, based upon the last ascertainable real estate taxes on the Premises;the fee charged by the Title Company 3