6.B.(3) Option Contract with LaSalle Housing Partners

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parcels owned or to be acquired by Purchaser, w°hich shall be i~t form for recording. (1) Seller shall prepare and record any required environmental disclosures. (g) Purchaser and Seller shall provide the title insurance company with such information as may be required to report proceeds from the real estate sale on a Porm 1099-5. (h) Purchaser shall deliver or cause to he delivered to Seller a certified, cashier's or title insurance company check payable to Seller in the amount of the purchase price, plus or minus: the credits due Purchaser of real property taxes; the credit due Purchaser for the option lee; the cost of the title insurance police which Purchaser is authorized to deduct from the purchase price and pay to the title insurance company at closing; the transfer lax (stamp) andior conve~~ance fee. the reimbursement of survey cost; and any other credits due Purchaser (or Seller) or any other adjustments to the purchase price as provided in this Contract. 1 ~. [scrow. At the election of Seller or Purchaser upon notice to the other party given prior to the Date of closing, this sale shall be closed through an escrow with the title insw~ancc company, with such special provisions inserted in the escrow agreement as may be required to conform with this Contract. Upon the creation of such an escrow, anything herein to the contrary notwithstanding, payment of the purchase price and delivery of the deed(s) shall be made through the escrow. 'I~he cost of the escrow shall be paid by the party making the election. ] 4. Possession. Complete and exclusive actual possession of the Property (free of all tenancies and occupants) shall be delivered to Purchaser nn the Date of Closing. 15. Representations and Warranties. Seller rcpresenis and warrants to Purchaser, as of the date of its ezccution of the Option of which this Contract is a part, and as of the Date of Closing, that: (a) Seller is the owner of good and marketable title to the Property and no other person or cntit_v has any dower or other interest in, or other claim to all or any part of the Propem~. (b) Seller has the capacity and authority to enter into this Contract and to consummate the transaction contemplated herein including but not limited to taking Company action required to authorize this transaction with Purchaser. (c) Seller has not received any notice of, and to the best of Seller's know°ledge there arc no (i) proposed special assessments, condemn~~ition, or changes in the roads adjacent to the Propert~~. or (ii) pending public improvements which will result in any charge being levied or assessed against, or a lien bcin~ created upon, the Property.