Laserfiche WebLink
• 6 . Buyer shall be obligated for all general taxes and <br /> � special assessments payable hereafter. <br /> 7 . Buyer shall pay taxes and insurance when due and <br /> promptly submit to Seller evidence of payment. <br /> 8 . For the duration of this Agreement, Buyer shall <br /> keeg all improvements in reasonably good repair and insured <br /> to at least 80� of reasonable replacement value. Said <br /> insurance shall indicate Seller and mortgagee, if any, as <br /> additional insureds . The policy of insurance shall be held <br /> by the Seller or any mortgagee until this Agreement ends <br /> by its terms. If Premises are damaged by casualty, Buyer <br /> shall promptly cause all improvements to be repaired or <br /> rebuild. If Buyer shall fail to cause such repairs or rebuilding <br /> to be effected within a reasonable time, then all insurance <br /> proceeds shall instead be paid to the Seller to be applied <br /> first on the principal balance of any mortgage on Premises, <br /> then to the principal balance due from Buyer, and the balance, <br /> if any, shall then be paid to Buyer. <br /> 9 . Abstract of Title or Title Policy to Premises is <br /> accepted by Buyer as showing as of its effective date merchantable <br /> title to Premises in Seller. At the time Buyer is entitled <br /> to recezve the Deed, Seller shall have the Abstract of Title <br /> continued or the Title Policy in the amount of the purchase <br /> price updated to show that there are not intervening liens <br /> or encumbrances caused by Seller. Any such liens or encumbrances <br /> shall be removed by Seller and Seller shall pay for said <br /> Abstract of Title continuation or updated Title Policy except <br /> for charges for judgment search on Buyer. If there is no <br /> such lien or encumbrance, Buyer shall pay for said Abstract <br /> of Title continuation or updated Title Policy. <br /> 10. Seller may pay taxes, special assessments, insurance <br /> premiums or repair bills when due if Buyer fails to do so, ' <br /> and any sums so paid by Seller shall be added to the principal ', <br /> amount due under this Agreement. <br /> 11. The Buyer shall not assign or otherwise convey <br /> any of Buyer ' s interests under this Agreement, and any such <br /> attempted assignment or conveyance shall be null and void <br /> and of no effect and shall constitute a breach of this Agreement. <br /> 12 . Buyer shall not alter or remodel Premises or do <br /> any act which results in a mechanic' s lien against Premises <br /> unless written permission is obtained from Seller. Al1 <br /> repairs or improvements made upon Premises by Buyer shall <br /> be completed without delay and shall be paid for immediately, <br /> and Buyer shall exhibit paid receipts to Seller. <br /> 13 . Buyer shall allow periodic inspections by agents <br /> of the Seller during regular business hours to determine <br /> compliance with the terms hereof . • <br />