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personal property not included in the sale and shall deliver to the Buyer all keys available to the Seller; (d) The Buyer shall have the right to
requirements of this Contract.
the event of loss or damage occurring prior to the delivery of the Deed, Seller shall repair and restore the Property prior to the Closing Date, or,
may delay the closing at his option for up to the earlier of thirty (30) days from the date of such loss or damage or the date Buyer’s mortgage loan
commitment expires (“Delay Period”) in order to complete restoration or repairs. If at the expiration of the Delay Period the Seller has failed to
repair or restore the Property to its condition prior to the loss or damage, the Buyer shall have the option of: (a) Terminating this Contract, in
remitted to the Buyer and thereupon the parties shall have no further rights and obligations under this Contract; or (b) Closing title by accepting
or funds paid or recoverable on account of such loss or damage, less any sums actually expended by the Seller for restoration or repairs. The
Seller shall not be responsible for loss or damage to trees or other plantings due to natural causes provided such loss or damages does not
Contract. The Deposit shall be paid to the Seller at Closing. In the event of termination prior to Closing, the escrow agent shall (a) retain the
Deposit in escrow until directed to disburse the Deposit by mutual agreement of the parties or by court order; or (b) commence an interpleader
action and pay the Deposit into court whereupon the escrow agent shall be relieved of all further obligation. In the event that the Additional
shall be delivered to and retained by the Seller as liquidated damages, and thereupon, the parties shall be relieved of all further liability
performed or omitted in good faith, or for any mistake of law.
20. Default, Liquidated Damages: If Buyer defaults under this Contract after the Deposit has been paid, the Deposit shall be remitted to and
retained by Seller as liquidated damages, and thereupon, the parties shall be relieved of all further liability under this Contract except as other-
be entitled to reimbursement of court costs and attorneys fees incurred therein.
21. Adjustments at Closing: Property taxes, utilities, municipal assessments and use charges, rents, district taxes, association charges, and other
charges customarily adjusted at closings in accordance with the custom of the Bar Association for the town wherein the Property is located, will
be prorated as of the Closing Date. The Buyer shall reimburse the Seller at Closing for any fuel stored on the Property. Property taxes will be
22. Personal Property: Unless excluded in Paragraph 4, the Personal Property included in the sale shall consist of the following: screens, storm
located on the Property and the personal property listed in Paragraph 4.
23. Mortgage Financing Contingency: Third Party Mortgage. The Buyer’s obligations hereunder are contingent upon Buyer obtaining a written
continue in full force and effect.
Purchase Money Mortgage. A Purchase Money Note and a Purchase Money Mortgage as
described on the attached Rider shall be executed and delivered by the Buyer to the Seller at Closing.
24. Inspection Contingency: Buyer acting by representatives of Buyer’s choice shall complete the inspections, tests, assessments and title
search of the Property as designated in Paragraph 9 prior to the “Inspection Completion Date” or the “Title Search Completion Date”, as the case
days after the “Inspection Completion Date,” or the “Title Search Completion Date,” as the case may be, this Contract shall be deemed
terminated by such Notice and the Deposit shall be returned to the Buyer. Absent timely notice hereunder, terminating this Contract, this contin-
Page 3 of Real Estate Contract Dated: For Property Known As:
Buyer Initials Seller Initials