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192 MINOR REPAIR ITEMS MENTIONED IN ANY REPORT, SHALL NOT BE A BASIS FOR TERMINATION OF 193 THIS AGREEMENT. 194 195 14. LIMITVanowledges ME WARRANTY PROGRAM: 196 Buyer the. availability of a LIMITED HOM WARRANTY PROGRAM with a deductible paid byy�� er 197 which ll ❑ will not be provided at a cost of $ � charged to ❑ Buyer Milan 198 Buyer and Seller acknowledge this LIMITED HOME WARRANTY PROGRAM will not cover any pre- existing 199 defects in the Property nor replace the need for an independent home inspection. Broker may receive a fee from 200 the home warranty provider and/or a member benefit. 201 202 15. DISCLOSURES: (Coe) 203 1. Buyer ❑ has VWhawl of ❑ not appli cable received and executed SELLER'S RESIDENTIAL REAL ESTATE 204 SALES DISCLOSU205 2. Buyer ❑ has ot ❑ not applicable received and executed a AD -BASED PAINT CERTIFICATION 206 AND ACKNOWLEDGMENT. 207 208 16. TITLE APPROVAL: Prior to closing, Buyer shall be furnished with title insurance commitment for the most 209 current and comprehensive ALTA Owner's Title Insurance Policy available in the amount of the purchase 210 price or ❑ an abstract of title continued to date, showing marketable title to Property in Seller's name. Seller 211 must convey title free and clear of any encumbrances and title defects, with the exception of any mortgage 212 assumed by Buyer and any restrictions or easements of record not materially interfering with Buyer's intended use 213 of the Property. A title company, at Buyer's request, can provide information about availability of various additional 214 title insurance coverages and endorsem=eller the associated costs. 215 216 Owner's Policy to be paid by El Buyer ❑ Shared equally ❑ Included in allowance, if provided. 217 218 Lender's Policy, if applicable, to be paid by ❑ Buyer ❑ Seller ❑ Shared equally ❑ Included in allowance, if 219 provided. ❑ Other A6P �✓« vy j 220 221 222 The parties agree that Sell Buyer will select a title insurance company to issue a title insurance policy and 223 will order the commitment mmediately or ❑ other: 224 225 226 Pursuant to Federal and State law, Seller cannot make Seller's selection of a title insurance provider a condition of 227 this Agreement. 228 229 Seller agrees to pay the cost of obtaining all other documents necessary to perfect title (including the cost of the 230 deed and vendors affidavit), so that marketable title can be conveyed. 231 232 17. TAXES: (Check paragraph A, B or C) 233 ❑ A. Buyer will assume and p all taxes on the Property beginning with the taxes due and payable on 234 N !'T, , and all taxes due thereafter. At or before closing, Seller shall pay all 235 tolves for the Property payable before that date. 236 237 B. All taxes that have accrued for any prior calendar year that remain unpaid shall be paid by Seller either to 238 the County Treasurer and /or the Buyer in the form of a credit at closing. All taxes that have accrued for the 239 current calendar year shall be prorated on a calendar -year basis as of the day immediately prior to the 240 Closing Date. 241 242 For purposes of paragraph A and B: For the purpose of determining the credit amount for accrued but unpaid 243 taxes, taxes shall be assumed to be the same as the most recent year when taxes were billed based upon certified 244 tax rates. This shall be a final settlement. 245 246 ❑ C. FOR RECE ONSTRUCTION OR OTHER TAX SITUATIONS. Seller will give a tax credit of 247 $ to Buyer at closing. This shall be a final settlement. 248 249 WARNING: The succeeding year tax bill for recently constructed homes or following reassessment periods 250 may greatly exceed the last tax bill available to the closing agent. 251 252 Buyer acknowledges Seller's tax exemptions and/or credits may not be reflected on future tax bills. 253 254 Buyer may apply for current -year exemptions/credits at or after closing. (Property Address) el Page 4 of 7 (Purchase Agreement) Produced with ZipForn* by zipLogix 18070 Fifteen Mile Road, Fraser, Michigan 48026 tanEzioLoaix.com aa.zfx