Laserfiche WebLink
(c) Seller has no knowledge of any violations of, or notices concerning <br />defects or noncompliance with, any applicable building code or other code, <br />statute, regulation, ordinance, judicial order, or judicial holding pertaining to the <br />property. <br />(d) Seller is not in default under any Agreement, note, or encumbrance <br />relating to the Property <br />(e) Seller has no knowledge of any material defects in the Property and the <br />improvements on the Property other than those listed in Schedule "A ", and <br />except for those defects, the Property and improvements are in g ood condition, <br />reasonable wear and tear excepted. <br />ARTICLE 5. MISCELLANEOUS PROVISIONS <br />Liquidated Damages <br />Section 5.02. if Buyer defaults in the performance of this agreement, the <br />Parties agree that seller shall be released from any obligation to sell the <br />Property to Buyer and may retain, as liquidated damages, the lesserof the <br />Deposit paid by Buyer on execution of this Agreement pursuant to Section <br />1.01 or 3 percent of the purchase price. Seller shall refund to Buyer the <br />remainder of the deposit, if any.of the parties - further agree that the amount of <br />liquidated damages established by this provision is a reasonable estimate, <br />under the circumstances existing on the date of execution of this Agreement, of <br />what Seller's damages would be in the event of a default by Buyer. <br />Initialed by Buyer: <br />Initialed by Seller: &(AC� <br />Insurance <br />Section 5.03. Seller shall cancel all policies_ of insurance on the Property as of <br />the close of escrow. Buyer shall be responsible for obtaining insurance on the <br />Property as of the close of escrow. <br />Assignment <br />Section 5.04. Buyer may not assig this A reement withou ' <br />.y y g g t Sellers prior written <br />Consent. The valid assignment of this Agreement shall not relieve Buyer of <br />liability under this agreement. <br />11 <br />