MASSHOUSING UNIFORM INSTRUMENT – FANNIE MAE APPROVED FORM B-010 © Rev. 9.9.19 (Page 7 of 16)
5. Delivery of Deed. (a) In connection with any conveyance pursuant to an option to
purchase as set forth in Section 4 above, the Property shall be conveyed by the Owner to the
selected purchaser by a good and sufficient quitclaim deed conveying a good and clear record
and marketable title to the Property free from all encumbrances except (i) such taxes for the then
current year as are not due and payable on the date of delivery of the deed, (ii) any lien for
municipal betterments assessed after the date of the Conveyance Notice, (iii) provisions of local
building and zoning laws, (iv) all easements, restrictions, covenants and agreements of record
specified in the deed from the Owner to the selected purchaser, (v) such additional easements,
restrictions, covenants and agreements of record as the selected purchaser consents to, such
consent not to be unreasonably withheld or delayed, (vi) the Regulatory Agreement, and (vii),
except as otherwise provided in the Compliance Certificate, a Restriction identical in form and
substance to this Restriction which the Owner hereby agrees to execute, to secure execution by
the selected purchaser, and to record with the deed. Said deed shall clearly state that it is
made subject to the Restriction which is made part of the deed. Failure to comply with the
preceding sentence shall not affect the validity of the conveyance from the Owner to the selected
purchaser or the enforceability of the restrictions herein.
(b) Said deed, including the approved Restriction, shall be delivered and the purchase
price paid (the "Closing") at the Registry, or at the option of the selected purchaser, exercised by
written notice to the Owner at least five (5) days prior to the delivery of the deed, at such other
place as the selected purchaser may designate in said notice. The Closing shall occur at such
time and on such date as shall be specified in a written notice from the selected purchaser to the
Owner, which date shall be at least five (5) days after the date on which such notice is given, and
no later than the end of the time period specified in Section 4(a) above.
(c) To enable Owner to make conveyance as herein provided, Owner may, if Owner so
desires at the time of delivery of the deed, use the purchase money or any portion thereof to clear
the title of any or all encumbrances or interests, all instruments with respect thereto to be
recorded simultaneously with the delivery of said deed. Nothing contained herein as to the
Owner’s obligation to remove defects in title or to make conveyance or to deliver possession of
the Property in accordance with the terms hereof, as to use of proceeds to clear title or as to the
election of the selected purchaser to take title, nor anything else in this Restriction shall be
deemed to waive, impair or otherwise affect the priority of the rights herein over matters
appearing of record, or occurring, at any time after the recording of this Restriction, all such
matters so appearing or occurring being subject and subordinate in all events to the rights herein.
(d) Water and sewer charges and taxes for the then current tax period shall be
apportioned and fuel value shall be adjusted as of the date of Closing and the net amount thereof
shall be added to or deducted from, as the case may be, the purchase price payable by the
selected purchaser.
(e) Full possession of the Property free from all occupants is to be delivered at the time of
the Closing, the Property to be then in the same condition as it is in on the date of the execution
of the purchase and sale agreement, reasonable wear and tear only excepted.
(f) If Owner shall be unable to give title or to make conveyance as above required, or if
any change of condition in the Property not included in the above exception shall occur, then
Owner shall be given a reasonable time not to exceed thirty (30) days after the date on which the