NOTE See WARNING in paragraph 4 above for limitation on Buyers right to

Note see warning in paragraph 4 above for limitation

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NOTE : See WARNING in paragraph 4 above for limitation on Buyer’s right to terminate this Contract as a result of Buyer’s continued investigation of the Property following the expiration of the Due Diligence Period. (d) Removal of Seller’s Property : Seller shall remove, by the date possession is made available to Buyer, all personal property which is not a part of the purchase and all garbage and debris from the Property. (e) Affidavit and Indemnification Agreement : Seller shall furnish at Settlement an affidavit(s) and indemnification agreement(s) in form satisfactory to Buyer and Buyer’s title insurer, if any, executed by Seller and any person or entity who has performe d or furnished labor, services, materials or rental equipment to the Property within 120 days prior to the date of Settlement and who may be entitled to claim a lien against the Property as described in N.C.G.S. §44A-8 verifying that each such person or entity has been paid in full and agreeing to indemnify Buyer, Buyer’s lender(s) and Buyer’s title insurer against all loss from any cause or claim arising therefrom. (f) Designation of Lien Agent, Payment and Satisfaction of Liens : If required by N.C.G.S. §44A-11.1, Seller shall have designated a Lien Agent, and Seller shall deliver to Buyer as soon as reasonably possible a copy of the appointment of Lien Agent. All deeds of trust, deferred ad valorem taxes, liens and other charges against the Property, not assumed by Buyer, must be paid and satisfied by Seller prior to or at Settlement such that cancellation may be promptly obtained following Closing. Seller shall remain obligated to obtain any such cancellations following Closing. (g) Good Title, Legal Access : Seller shall execute and deliver a GENERAL WARRANTY DEED for the Property in recordable form no later than Settlement, which shall convey fee simple marketable and insurable title , without exception for mechanics’ liens, and free of any other liens, encumbrances or defects, including those which would be revealed by a current and accurate survey of the Property, except: ad valorem taxes for the current year (prorated through the date of Settlement); utility easements and unviolated covenants , conditions or restrictions that do not materially affect the value of the Property; and such other liens, encumbrances or defects as may be assumed or specifically approved by Buyer in writing. The Property must have legal access to a public right of way. NOTE : Buyer’s failure to terminate this Contract prior to the expiration of the Due Diligence Period as a result of any enc umbrance or defect that is or would have been revealed by a title examination of the Property or a current and accurate survey shall not relieve Seller of any obligation under this subparagraph. Buyer’s failure to conduct a survey or examine title of the P roperty, prior to
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Page 9 of 13 STANDARD FORM 2-T Revised 7/2017 © 7/2017 the expiration of the Due Diligence Period does not relieve the Seller of their obligation to deliver good title under this paragraph.
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  • Fall '19
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