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<br />11/20/2005 11:09 <br /> <br />5503542015 <br /> <br />GARDELLA <br /> <br />PAGE 05 <br /> <br />b. Seller shall maintain the Property in its current condition (ordinary wear <br />and tear excepted). <br />c. From and after the Agreement Date, Seller shall not enter into any <br />contracts concerning the Property, without obtaining the prior written approval of Buyer. <br /> <br />d. From and after the Agreement Date, Seller shall not enter into any leases <br />of any portion of the Property, without the prior written approval of Buyer. <br /> <br />13. Seller's Closing Conditions. <br /> <br />a. Seller's obligation to perform under this Agreement is conditioned upon: <br /> <br />(1) Buyer timely performing all of its obligations under this <br /> <br />Agreement; and <br /> <br />(2) Receipt of the Purchase Price. <br /> <br />b. In the event the conditions set fortb in this paragraph 13 are not satisfied <br />or waived by Seller in writing on the Scheduled Closing Date, Seller may elect to terminate this <br />Agreement. <br /> <br />14. Closing ,Costs and Prorations. The closing costs shaU be paid as follows: <br /> <br />Escrow Fees: Shared equally between Buye.t: and Seller <br /> <br />Owner's Policy Premium: Seller <br /> <br />County Documentary <br />Transfer Tax: Seller <br /> <br />City Documenmry Tax (if any) <br /> <br />Buyer <br /> <br />Notary fees, document preparation fees and recording fees shall be paid by the party benefiting from <br />such notary, preparation, or recordation. All other closing costs shall be paid in accordance with the <br />custom in the County in which the Property is located Real property taxes and assessments and <br />rents shall be prorated as of the Close of Escrow and through escrow based upon the latest available <br />tax and assessment information. All expense items nonnal to the operation of the Property shall be <br />prorated outside of escrow. Each party shall pay the legal fees incurred by its own legal counsel. <br /> <br />15. Representations and 'Warranties of Sellm:. Seller hereby makes the following <br />representations and Wlll'nUlties, to the best of its knowledge, each of which is material and being <br />relied upon by Buyer and is true in all respects as of the date of this Agreement: <br /> <br />a. That copies of all original documents provided Buyer pursuant to th.is <br />Agreement are true and complete copies hereof; <br /> <br />b. As of the closing, there will be no out:sta.nding contracts made by Seller for <br />any improvements to the Property which has not been fully paid for by Seller except as disclosed <br />to Buyer and agreed in writing by Buyer, and Seller shall cause to be discharged all mechanic's <br />and materialmen's liens arising from any la.bor or material ordered by Seller and furnished prior <br />to closing; <br /> <br />c. As of the Agreement Date, the Property is vacant and unoccupied. <br /> <br />REOW\OOOI\DOClOJ6-3 <br /> <br />4 <br />