6.B.(1)&(2) Staff report 118 N. Main St.

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SECTION IL CON~'El'ANCG OF NROPERTY. A. Form of Dccd. Subject to the terms of this Contract, the Commission shall convey to the De~clopcr title to the Properh~ b. quit claim decd (Dccd~~). h1 addition to the other conditions, co~cnants and restrictions in this Contract such comevance and title shall he subject to: Building and use resh~ictions in the Plan (and its co~~enants) and this Contract. ?. Applicable building codes and roving ordinances. ~. Any and all other covenants. restrictions. casanents and reser~~ations of record. B. Time and Place oi~ Closin~~ on Salc of the Property. Subject to the terms and conditions ofthis Contract. the Commission shall dcli~~er the Deed and possession ofthc Property to the Dc~~cloper on when the conditions precedent to closing enumerated in paragraph F of this SF.CTI ON 11 ha~c been met. or cailicr if the parties mutually agree in ~~~riting. Conveyance steal I be made at a time and place mutually agreed upon by the Commission and De~~eloper. Fees t~~r closing services pro~idcd by the title company shall be borne by the Developer. Z he lle~clopcr steal I accept the con~cvance and pay the Purchase Price to the Commission at that time and place. C. Apportionment of Current Taxes. The Commission shall bear [hc portion of the current taxes (if any) on the Property ~~hich arc a liar on the date of delis°cry o[~the Decd to the Developer. D. Rccordution oi~ Decd. ~I~hc Commission shall promptVy record the Decd in the St. Joseph County Recorders Office and shall pay the costs for recording the Deed. 1=. Title Insurance. The Conunission shall furnish the De~cloper a title insm-ance policy ~~ hich insures the De~elopa`s title in a sum equal to the Purchase Price and subject only to those items pray ided for in the Contract.