Buyer’s receipt of a Mineral and Oil and Gas Rights Mandatory Disclosure Statement does not modify or limit the obligations o f Seller under Paragraph 8(g) of this Contract and shall not constitute the assumption or approval by Buyer of any severance of mineral and/or oil and gas rights, except as may be assumed or specifically approved by Buyer in writing.
NOTE: The parties are advised to consult with a NC attorney prior to signing this Contract if severance of mineral and/or oil and gas rights has occurred
6. BUYER OBLIGATIONS : (a) Responsibility for Special Assessments : Buyer shall take title subject to all Special Assessments that may be approved following Settlement. (b) Responsibility for Certain Costs : Buyer shall be responsible for all costs with respect to: (i) any loan obtained by Buyer; (ii) charges by an owners’ association or a management company/vendor as agent of the association under paragraph 9(b) of this Contract; (iii) appraisal; (iv) title search; (v) title insurance; (vi) any fees charged by the closing attorney for the preparation of the Closing Disclosure, Seller Disclosure and any other settlement statement; (vii) recording the deed; and (viii) preparation and recording of all instruments required to secure the balance of the Purchase Price unpaid at Settlement. (c) Authorization to Disclose Information : Buyer authorizes the Buyer’s lender(s), the parties’ real estate age nt(s) and closing attorney: (1) to provide this Contract to any appraiser employed by Buyer or by Buyer’s lender(s); and (2) to release and dis close any buyer’s closing disclosure, settlement statement and/or disbursement summary, or any information therei n, to the parties to this transaction, their real estate agent(s) and Buyer’s lender(s).
7 . SELLER REPRESENTATIONS : (a) Ownership : Seller represents that Seller: has owned the Property for at least one year. has owned the Property for less than one year. does not yet own the Property.
(b) Lead-Based Paint ( check if applicable ): The Property is residential and was built prior to 1978 (Attach Lead-Based Paint or Lead-Based Paint Hazards Disclosure Addendum {Standard Form 2A9-T}). (c) Owners’ Association(s) and Dues : Seller authorizes and directs any owners’ association, any man agement company of the owners’ association, any insurance company and any attorney who has previously represented the Seller to release to Buyer, Buyer’s agents, representative, closing attorney or lender true and accurate copies of the following items affecting the Property, including any amendments: Seller’s statement of account master insurance policy showing the coverage provided and the deductible amount Declaration and Restrictive Covenants Rules and Regulations Articles of Incorporation Bylaws of the owners’ association current financial statement and budget of the owners’ association parking restrictions and information architectural guidelines (specify name of association): ___________________________________________________________________whose regular assessments (“dues”) are $_______________ per______________. The name, address and telephone number of the president of the owners’ association or the association manager is: ________________________________________________________________ _________________________________________________________________________________________________________ Owners’ association website address, if any : _____________________________________________________________________ (specify name of association): _______________________________________________________________whose regular assessments (“dues”) are $_______________ per______________. The name, add ress and telephone number of the president of the owners’ association or the association manager is: ________________________________________________________________
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STANDARD FORM 2-T Revised 7/2022 © 7/2022
Buyer ’s initials ______ ______ Seller ’s initials ______ ______
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