2022-08-03-R - Laserfiche WebLink

Home Browse Search

3. Title Documents. If the Buyer shall make the payment herein called for in paragraphs 2(a) and 2(b) and the Seller shall make, execute and deliver to the Buyer the Seller's warranty deed conveying the property free and clear of all liens and encumbrances. 4. Taxes. As an Arkansas Municipality, Seller is does not pay property taxes under Arkansas Law. Buyer agrees that Buyer will pay taxes for all subsequent to the closing, if any are due. 5. Insurance and Risk of Loss. The Seller agrees to maintain in full force and effect a policy or policies of fire and extended coverage insurance covering the improvements on the above-described property with good and solvent insurance companies, in amounts at least equal to the full insurance value of the improvements on the above-described property, through the date of closing. 6. Possession. The Buyer shall be entitled to possession of the property upon the end of the leasehold attached hereto as Exhibit "B". 7. Time of the Essence. The time of making payments and keeping of the agreements herein made between the parties is specifically made of the essence of this agreement. 8. Fixtures and Attached Equipment. Unless specifically excluded herein (see 2(d)) all fixtures and attached equipment, if any, are included in the Purchase Price. Such fixtures and attached equipment shall include, but not be limited to the following: water heaters, exhaust fans, heating and air condition systems, plumbing and septic systems electrical system, carpeting, indoor and outdoor light fixtures, window and door coverings and related hardware, and any other items bolted, nailed, screwed, buried or otherwise attached to the Property in a permanent manner. 9. Warranties and Buyer's Right to Inspect: The Seller warrants and represents however, that there are no known latent defects, that would pose a health or safety risk to individuals occupying the property that would not be revealed by a reasonable inspection of the subject property. Any defects or conditions will be communicated by the Buyer to the Seller within 30 days of the execution of this agreement and the Seller will have a reasonable time to correct or remedy said defects. If the Buyer and Seller cannot agree on any repair item, either party may cancel this contract. 10. AS IS Sale: Buyer hereby certifies that Buyer has personally inspected the real estate as fully as Buyer desires and is not relying and shall not hereafter rely upon any warranties, representations or statements of Seller or Seller's representatives as to age, size, quality, value or condition of improvements, if any, whether or not defects may be reasonable discoverable by Buyer. Buyer agrees to purchase the real estate in its present, "AS-IS" condition.