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2. Purchase and Sale of the Property. Subject to the terms provisions, and conditions set <br />forth in this Contract, Seller agrees to sell the Property to Purchaser, and Purchaser agrees to <br />purchase the Property from Seller. The Property is described at Exhibit A_ attached hereto and <br />incorporated herein. <br />3. Purchase Price for Property. The Purchase Price for the Property shall be paid in cash <br />to the Seller by the Purchaser less applicable credits and prorations at Closing by wire transfer or <br />other agreeable method. The Purchaser will pay all closing expenses and fees and the cost of the <br />Title Policy. The Purchaser shall be responsible for all delinquent real and personal property taxes or <br />other income or transfer taxes encumbering the Property or due as a result of this transaction, as well <br />as the 2008~av 2009 real property taxes. <br />4. Exceptions to Title. 1'hc Property shall be sold subject to only the following: <br />a The lien of general real estate taxes not yet due and payable, and <br />b Liens or encumbrances of a definite or ascertainable amount and which will <br />be paid and discharged in full by or for Seller at or prior to the Dosing, and <br />c. Zoning ordinances, and <br />d. Easements of record, liens, encumbrances, and restrictions of record as shown <br />on the Title Commitment and consented to by the Purchaser. <br />5. Warranties oC Seller. Seller hereby warrants and represents as of the date of this <br />Agreement and shall warrant and represent that as of the date of Closing that: <br />a. Scllcr has not received any notice of, and does not have any achtal knowledge <br />of, any violation of any law, ordinance, code, or regulation with regard to <br />zoning affecting the Property. <br />b. Seller has not received any notice, and does not have actual knowledge or <br />information about, any existing or tlu~eatcned condemnation or other legal <br />action of any kind affecting the Property other than from the Purchaser. <br />c. Seller has not received any notice of, and does not have any actual knowledge <br />of, any actual or contemplated special assessments against the Property, or <br />reassessments for general real estate tax purposes affecting the Property. <br />d. Seller owns fee simple insurable title to the Property, subject only to <br />exceptions stated in paragraph 4 above. Prom the present date to the date of <br />2 <br />