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Agmt11 Janice Salaman, 1584 Maple St., Docktown,
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Agmt11 Janice Salaman, 1584 Maple St., Docktown,
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Last modified
6/1/2011 4:10:35 PM
Creation date
3/16/2011 4:58:44 PM
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Agreement
Contractor Name
Janice Salaman- seller
PROJECT NAME
Docktown Marina also know as 1548 Maple St.
RMP File Number
304
Date
3/7/2011
MO Ref
RDA 11-04 and Resolution 15097 & RecDoc 031284
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"A GENERAL RELEASE DOES NOT EXTEND TO CLAIMS WHICH THE <br /> CREDITOR DOES NOT KNOW OR SUSPECT TO EXIST IN HIS OR HER <br /> FAVOR AT THE TIME OF EXECUTING THE RELEASE, WHICH IF <br /> KNOWN BY HIM OR HER MUST HAVE MATERIALLY AFFECTED HIS <br /> OR HER SETTLEMENT WITH THE DEBTOR." <br /> Buyer's Initials: 14. Brokers. Seller shall pay a brokerage commission to CB Richard Ellis, Inc. (the <br /> "Broker ") pursuant to a separate agreement between Seller and the Broker. Except for the <br /> Broker referred to in this Paragraph 14, each party represents to the other that it has not dealt <br /> with any other broker, agent, or finder for which a commission or fee is payable in connection <br /> with the transaction contemplated by this Agreement. Each party shall indemnify, defend, <br /> protect and hold harmless the other from any Claims arising from such party's breach of its <br /> representation contained in this paragraph. <br /> 15. Seller's Operating Covenants. <br /> (a) Contracts. Prior to the Closing, Seller shall terminate all Contracts, except <br /> for the Contracts that Seller agrees to assign to Buyer and that Buyer agrees to assume. Buyer <br /> shall notify Seller of those Contracts, if any, that Buyer wishes to assume within thirty (30) days <br /> after receipt of such Contracts. If Buyer fails to notify Seller of its election to assume any of the <br /> Contracts within such thirty (30) day period, Buyer shall be deemed to have elected not to <br /> assume any of the Contracts. Those Contracts that Buyer expressly elects to assume, if any, shall <br /> be identified in an exhibit to the Assignment and assigned to and assumed by Buyer pursuant to <br /> the Assignment. <br /> (b) Leases. From and after the Effective Date, and so long as this Agreement <br /> is in effect, (i) Seller shall not execute any new leases or modify, amend, or extend the Lease or <br /> any other leases or rental agreements, except with Buyer's written approval, which approval may <br /> be withheld in Buyer's sole and absolute discretion; (ii) Seller shall not grant any concession, <br /> rebate, allowance or free rent with respect to the Lease, or consent to any sublease, assignment, <br /> termination, or lease surrender proposed by Docktown Marina, Inc., except with Buyer's written <br /> approval, which approval may be withheld in Buyer's sole and absolute discretion; and (iii) <br /> Seller shall not create any obligations relating to any new or existing lease of the Property. <br /> (c) Other Operating Covenants. From and after the Effective Date, Seller <br /> shall not encumber the Property with any liens, encumbrances or other instruments creating a <br /> cloud on title or securing a monetary obligation that will survive the Closing. Seller has paid or <br /> will pay in full, prior to the Closing, all bills and invoices that are received by Seller prior to the <br /> Closing for labor, goods, materials and services of any kind relating to the Property ordered by or <br /> at the direction of Seller and utility charges relating to the period prior to the Closing. Subject to <br /> Paragraph 23, Seller shall maintain or cause to be maintained the Real Property in substantially <br /> the same condition as it exists as of the Effective Date. Seller shall timely discharge, prior to the <br /> Closing, any and all obligations relating to work performed on or conducted at or materials <br /> delivered to the Real Property from time to time by Seller, or at Seller's direction or on its <br /> Purchase and Sale Agreement 1548 Maple <br /> 03.04.2011 v.1 <br /> 18 <br />
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