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B. Buyer shall have been able to obtain any plats or replats and/or any and all permits, licenses, certificates, or other en-
<br />titlements for use required for the construction and operation of any buildings, parking or related improvements and access
<br />thereto without the imposition of conditions unsatisfactory to buyer. If buyer within thirty (30 ) days
<br />yr of exercising its option does not waive the requirements of this part B, it shall immediately make and promptly and properly
<br />process application for (i) any plat or replat, (ii) the first permit, license, certificate or other entitlement for use in a depen-
<br />dent series of the same, and (iii) all independent permits, licenses, certificates or other entitlements for use, and seller agrees
<br />to cooperate with buyer in obtaining these items including executing necessary applications and documents.
<br />C. The obtaining of the rezoning, variance, plat or replat or any permit, license, certificate, or entitlement for use referred to
<br />in parts A and B shall not be considered complete until any review or appeal is finally determined by the highest nonjudicial
<br />body authorized to determine same or until the time for such appeal or review has expired, whichever is later. If suit is
<br />brought to invalidate the rezoning, variance, plat or replat or any permit, license, certificate or entitlement for use, such
<br />rezoning, variance, plat or replat or obtaining of said permit, license, certificate or entitlement for use shall not be considered
<br />complete until final judgment or decree has been entered and the time for appeal therefrom has expired, or, if appeal is
<br />taken, until the appeal has finally been determined.
<br />D. Adjacent to said property, there will be water, electricity, gas, telephone and communication, storm and sanitary sewer
<br />services available, from public utilities, and adequate for any retail business use of said property as referred (o in part A
<br />above.;.. .. .. �. ,
<br />E. If any portion of said property is transected by or separated from another portion of said property and/or is separated
<br />from any portion of the property referred to in part F hereof, or if the property referred to in part F is transected by or
<br />separated from another property described in part F by one or more streets or alleys, said streets and alleys shall be uncondi-
<br />tionally vacated, free and clear of all easements on terms satisfactory to buyer, and title thereto shall be transferred to buyer
<br />concurrently with the transfer of said property and the property described in part F to buyer. Seller agrees to cooperate fully
<br />with buyer in obtaining such vacation.
<br />F. The purchase (which term shall include the vesting of title in buyer) of the property described as follows on terms satisfac-
<br />tory to buyer:
<br />PARCEL I - Lots 3 and 4, Block 1, Original City of Batesville
<br />PARCEL III - Lots 1 and 2, Block 4, Original City of Batesville
<br />PARCEL IV - Lots 9 and 10, Block 4, Original City of Batesville
<br />Buyer shall have all the time necessary to satisfy itself as to the conditions set forth in this paragraph, provided buyer proceeds with
<br />reasonable diligence.
<br />10. Within twenty (20) days after (A) seller has complied with its agreements and promises made herein, (B) all conditions specified
<br />herein have been satisfied or waived, and (C) escrow agent has advised buyer that it is prepared to complete the escrow under the
<br />terms hereof, buyer shall forward to escrow agent the balance of the purchase price and buyer's closing instructions. The escrow
<br />shall close within thirty (30) days of the escrow agent's receipt of buyer's funds and closing instructions.
<br />11. Seller promises to and shall deliver possession of the property described in paragraph 1 on the date title is transferred.
<br />12. Rents, water charges and real property taxes shall be prorated as of the date of transfer of title, and each party shall pay half of
<br />the escrow fee. Seller shall pay assessments in full for improvements comph3ed or partially completed prior to the date hereof,
<br />notary fees, any expense incurred in examination of title, expenses of placlitg iYe`irt'r"roper condition and the title premium and/or
<br />abstracting charges to insure that condition, and all governmental impositions incurred as a result of the transfer of.titig to buyer,
<br />except that buyer shall pay the cost of recording the deed.
<br />13. Upon buyer's acquisition of title to said property, seller shall pay a real estate brokerage commission of - -
<br />- - DOLLARS (S _ )
<br />to
<br />14. If, as a prerequisite to the granting and/or approving of zoning, a variance, platting or replatting or any permit, license, cer-
<br />tificate or other entitlement for use, the granting and/or approving jurisdiction or body requires the dedication of land to some
<br />jurisdiction, or if any portion of the property is taken by eminent domain or condemnation, or if any improvements on said proper-
<br />ty are destroyed or materially damaged prior to the transfer of title, buyer may (A) terminate this agreement and receive back the
<br />deposit(s), or (B) complete the purchase of said property with the price reduced by a sum equal to the pro rata per square foot value
<br />of the property required to be dedicated or taken and/or the value of the loss or damage to said improvements.
<br />15. This agreement may be terminated by buyer by written notice to seller if it reasonably appears to buyer that all conditions
<br />specified in this agreement cannot be satisfied within a reasonable time. If buyer so terminates this agreement, seller may retain said
<br />deposit(s). Further, if seller cannot provide buyer with title as required by paragraph 8 hereof or if the agreements and promises
<br />made by seller in this agreement are not performed, buyer may terminate this agreement by giving ten (10) days' written notice to
<br />escrow agent and seller; in the event of such termination, seller shall return said deposit(s) to buyer. Should buyer fail to deposit its
<br />funds or escrow instructions as provided in paragraph 10 hereof, seller may give ten (10) days' written notice to escrow agent and
<br />buyer; if buyer's default is not cured within such ten (10) days, this agreement shall terminate and seller shall, as its sole remedy, re-
<br />tain the said deposit(s) paid to seller.
<br />16. All rights and obligations of the parties hereto shall bind and inure to the benefit of their respective heirs, personal represen-
<br />tatives, successors and assigns. The singular number herein includes the plural and any gender includes all others.
<br />e
<br />IN WITNESS WHEREOF, each of said parties has executed this Agreenl gnt. '
<br />HER%IN NELSON BOYK IN , II
<br />(Agent for Undisclosed Buyer) _ . h N. Montgo ry '
<br />nda L. Nbnt ome -- —
<br />ern
<br />Ne son Bo kin ' , L _
<br />y `
<br />_ Savoy Nbntgomer�
<br />(Buyer) auline blontgomery(Seller)
<br />Form No. R-201 (Rev. 7-79)32• 2 111-1(95) Printed in U.S.A.
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