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NOW,THEREFORE, the Parties hereby agree and represent as follows: <br /> 1. The Seller hereby agrees to sell the Property to the Purchaser and the Purchaser <br /> hereby agrees to purchase the Property from the Seller for One Thousand Four <br /> Hundred Dollars ($1,400.00) (the "Purchase Price"), subject to the following <br /> terms: <br /> a. The Seller and the Purchaser shall close the transaction on a date (the <br /> "Closing Date") that is no later than thirty (30) days of the date of this <br /> agreement at Meridian Title Company, South Bend, Indiana 46601 (the "Title <br /> Company") or on such date and time or at such place as mutually agreed upon <br /> by the parties. <br /> b. At closing,the Purchaser shall pay to the Seller the Purchase Price. <br /> c. The Purchaser shall be entitled to possession on the Closing Date. <br /> d. At closing, the Seller shall deliver to the Purchaser a Quit Claim Deed <br /> providing for the conveyance of the Property. The Parties acknowledge that <br /> the Seller is a municipal corporation and no taxes should have accrued against <br /> the Property as of the Closing Date,however, any taxes which may accrue due <br /> to the transfer of the Property to the Purchaser shall be paid by the Purchaser <br /> and the Purchaser shall be responsible for all taxes thereafter. <br /> 2. The Purchaser shall be responsible for the recording costs and any other similar <br /> closing costs. <br /> 3. The parties each represent that any real estate commissions that are due and <br /> owing to any third party with respect to this transaction shall be paid by the party <br /> employing such third party. <br /> 4. In the event the Purchaser fails to comply with the terms of this Purchase <br /> Agreement or is otherwise in breach hereof, the Seller shall be entitled to declare <br /> this agreement at an end and of no further force and effect. <br /> 5. The Purchaser acknowledges that the Purchaser has conducted their own due <br /> diligence and acknowledges that the Purchase Price is fair and reasonable and <br /> waives any right that they may have to an appraisal or to contest or challenge the <br /> validity of the amount paid under this Purchase Agreement. <br />