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BUYER BUYER SELLER SELLER HAVE READ THIS PAGE
Form 330 PAGE 4 OF 6
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23.
ACTUAL COST INCURRED
shall include all costs and expenses incurred or obligated for by Buyer, Seller or Broker
in an effort to consummate this sale. Such costs shall include, but are not limited to, cost of credit report, appraisal, survey,
inspections and reports, title examination, and Broker's fee or commission for this sale.
24.
SURVEY, TITLE EXAMINATION, AND INSURANCE:
The Listing and Cooperating Broker(s) and their Agent(s)
recommend that Buyer have a survey of the subject property made, have examination as to the title to the property, obtain
owner's title insurance, and that Buyer obtain appropriate hazard insurance coverage effective with the time of closing. All
hazard insurance to be canceled and new policies furnished by Buyer at closing unless otherwise stipulated in this
Agreement. Flood insurance, if required by Lender at Buyer's option, shall be assigned to Buyer with permission of carrier,
and premium prorated to date of closing.
26.
SPECIAL STUDIES AREA, WETLANDS, AND ENVIRONMENTAL PROTECTION MATTERS:
All reports and
certifications called for by the lending agencies and any governmental body, by the Buyer concerning any special study
area, wetlands or for any environmental protection matter shall be at the expense of the . In the event
such studies are wanted or required, the studies must be furnished by the proper parties
within days
of complete
execution of the agreement. The Buyer and Seller must have access to all studies
within five (5) days of receipt
of the
studies. If Buyer fails to meet these deadlines, Buyer is deemed to have waived any and all rights under this paragraph. If
the Buyer is not satisfied with the results, the Seller shall have the option of correcting the problem. If the Seller elects not
to correct the problem, the Buyer's obligations under this Agreement terminate.
27.
COASTAL TIDELANDS & WETLANDS ACT:
In the event the property is affected by the provisions of the South
Carolina Coastal Tidelands & Wetlands Act (Section 48-39-10, et seq., South Carolina Code of Laws
), an Addendum will be
attached to this Agreement incorporating the required disclosures at Buyer's Seller's expense.
28.
DISCLAIMER BY BROKERS AND AGENTS:
The parties acknowledge that the Listing and Cooperating Broker(s)
and their Agent(s): (1) Give no guaranty or warranty of any kind, express or implied, as to the physical condition of the
property or as to condition of or existence of improvement services or systems, thereto, included but not limited to termite
damage, roof, basement, appliances, heating and air conditioning systems, plumbing, sewage, electric systems, and to the
structure; (2) Give no warranty, express or implied, as to the merchantability or fitness for a particular purpose as to the
property or such improvements thereto and any implied warranty hereby disclaimed; (3) Give no warranty as to title; (4)
Give no guaranty on warranty concerning (a) any certification or inspection concerning the condition of the property, (b) any
matters which would be reflected by current survey of the property, and (c) the accuracy of the published square footage of
the property; (5) Buyer acknowledges that Seller and Seller's Agents have not made any oral or written commitments to
Buyer regarding (a) projected income or economic benefit for Buyer from rentals; (b) rental arrangements except that Buyer
may rent the unit if Buyer so desires or (c) other economic benefits to the Buyer.
29.
MEDIATION CLAUSE.
Any dispute or claim arising out of or relating to this Agreement, the breach of this Agreement
or the services provided in relation to this Agreement, shall be submitted to mediation in accordance with the Rules and
Procedures of the Dispute Resolution System of the NATIONAL ASSOCIATION OF REALTORS®. Disputes shall include
representations made by the Buyer(s), Seller(s) or any real estate broker or other person or entity in connection with the
sale, purchase, financing, condition or other aspect of the property to which this Agreement pertains, including without
limitation allegations of concealment, misrepresentation, negligence and/or fraud.
25.
APPRAISED VALUE:
(check one)
This agreement is not contingent on the lot or parcel with building and improvements thereon, if any, appraising,
according to the lenders appraisal or other appraisal as agreed, for the selling price.
This agreement is contingent on the lot or parcel with building and improvements thereon, if any, appraising, according
to the lenders appraisal or other appraisal as agreed, for the selling price or more; if the lot or parcel with building and
improvements thereon appraises for less than the selling price, the seller may elect to sell for the appraised value. In
such case, the Buyer agrees to proceed with the consummation of this sale at the reduced price. However, if Seller
does not agree to sell at the appraised value, the Buyer shall have the option of proceeding with the consummation of
the Agreement without regard to the amount of the appraised valuation, or terminate the agreement without penalty.
Any agreement signed by the parties pursuant to the mediation conference shall be binding. This mediation clause shall
survive for a period of 120 days after the date of the closing.