PC-2
6. The buyers, within time allowed for delivery of evidence of title and examination thereof, may have the Property surveyed at the buyer’s expense. When the closing occurs, Buyer shall be deemed to have accepted the location of such improvements on, and the boundaries of, the property. 7. This agreement is not subject to Buyer being able to qualify for financing. In case of such default, the provisions of Paragraph 1 shall apply. 8. The Buyer may assign interest in this agreement only with the expressed written consent of the Seller. 9. This agreement may be executed in a number of identical counterparts. If so executed, each of such counterparts is to be deemed an original for all purposes. A fax signature shall be considered a binding contract. 10. Commercial/Business: Inventory is to be paid for at/or before closing and is not included in the contract price. The contract is not subject to SDM, liquor or any other license transfer. The business equipment included in the purchase price, if any, is on an attached list. Equipment not specifically listed in not included and may be removed at the seller’s option and expense. Rented equipment is not included. 11. The Buyer either has received all compliance materials or expressly waives all notices or paperwork related to: seller disclosure, lead based paint, fair housing act, radon, harmful molds, and all other disclosure or compliance laws or programs. The Buyer chooses to transact on these terms. 12. Possession of the above described property shall be given at closing, subject to the rights of tenants, if any, under existing leases and state law. 13. Unplatted lands: If the property is not a new land division or boundary change, the SELLER is transferring to the buyer all available divisions, if any, but makes no representations as to the number. Buyer has not relied on any information or opinions of the broker, salespeople, auctioneer or the seller. If the property is being split from a larger parcel, no divisions are included. This contract is contingent upon the seller obtaining government approval of the proposed land divisions and if approval is denied this contract becomes null and void and the buyer’s down payment is to be returned. 14. Municipal Inspections: It is the buyer’s responsibility to pay for and obtain all required municipal inspections, make required repairs, and obtain any certificates of occupancy, including payment for same. The buyer hereby certifies that they will comply with said inspection and repair requirements. 15. Personal Property: The seller is not responsible to remove trash and personal property but may do so at their option prior to closing. The property sells as is, where is, with no warranty expressed or implied, with all its faults and defects in its present condition. All risks of loss with respect to the property shall remain with SELLER until the closing is completed. COMPENSATION: Seller and Buyer acknowledge that Brokers shall be compensated for services rendered as previously agreed by separate written agreement(s) and or addendum and or acknowledgement form. The payment of a buyer’s premium by the buyer in no way constitutes the creation of an agency relationship between the Broker/Auctioneer and the buyer. TITLE INSURANCE : An ALTA Owner’s Policy of Title Insurance with standard exceptions in the amount of the purchase price shall be furnished to BUYER at SELLER’S expense and a commitment to issue a policy insuring insurable title vested in BUYER ; a real estate tax status report, shall be made available for BUYER’S inspection prior to closing. BUYER will pay the cost of mortgage title insurance, if required. TAXES AND ASSESSMENTS : Current real estate taxes, except special assessments, shall be prorated to the date of closing. The balance amount owing of the lien of any special assessments shall be paid by the seller at the time of closing; except that special assessments becoming a lien after closing will be paid by buyer. Seller shall pay real estate transfer taxes. PRORATIONS: Items normally prorated in real estate transactions shall be adjusted to the date of closing. Buyer pays the title company’s closing fee. All rental security deposits shall be paid to buyer at closing. INDEMNIFICATION AND HOLD HARMLESS : All parties to this agreement hereby agree to indemnify and hold harmless Broker/Auctioneer including attorney fees and court costs, incurred as a result of all aspects of this transaction. VENUE & SETTLMENT OF DISPUTES : All parties to this agreement hereby agree that all disputes will be settled in the venue of the St. Joseph County Circuit Court, St Joseph County Michigan. Further it is agreed that all parties shall first submit to binding arbitration, in St Joseph County, Michigan should a dispute arise. Broker/Auctioneer may collect reasonable attorney fees should seller or buyer be adjudicated against in either arbitration or appeal. BROKER /AUCTIONEER: BippusUSA.com is a DBA for John Bippus Co. a Michigan Corporation
All parties to this transaction understand that Auction Firm is independently owned and operated.
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