Real Estate Purchase and Sale Agreement 4-8-16

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Page 5 of 13 INITIALS: Seller:_________/Date:________ Purchaser:_________/Date:________ Seller:_________/Date:________ PURCHASER COST OR EXPENSE SELLER X Survey, if required Real Estate Excise Tax X Recording fees to clear / un-encumber title X X Recording fees for deed ½ Title Company closing or escrow charges ½ 7.6. Post-Closing Adjustments, Collections And Payments: After Closing, Purchaser and Seller shall reconcile the actual amount of the revenues or liabilities upon receipt or payment thereof to the extent those items were prorated or credited at Closing based upon estimates. Any bills or invoices received by Purchaser after Closing which relate to the services rendered or goods delivered to the Seller or Property prior to Closing shall be paid by Seller upon presentation of such bill or invoice. At Purchaser’s option, Purchaser may pay such bill or invoice and be reimbursed the amount paid plus interest at the rate of twelve percent (12%) per annum beginning fifteen (15) days from the date of Purchaser’s written demand to Seller for reimbursement until such reimbursement is made. Notwithstanding the foregoing, if Tenants pay certain expenses based upon estimates subject to a post-closing reconciliation to the actual amount of fees and expenses, then Purchaser shall be entitled to any surplus and shall be liable for any credit resulting from the reconciliation. Rents collected from each Tenant after Closing shall be applied first to rentals due most recently from such Tenant for the period after Closing, and the balance shall be applied for the benefits of Seller for delinquent rentals owed for a period prior to Closing. The amounts applied for the benefit of Seller shall be turned over by Purchaser to Seller promptly after receipt. Seller shall be entitled to pursue any lawful methods of collection of delinquent rents, but shall have no right to evict Tenants after Closing. 8. Form of Conveyance: Title shall be conveyed by Statutory Warranty Deed free of encumbrances or defects except those otherwise noted herein. The Statutory Warranty Deed shall be prepared by Jeff Slothower, Attorney at Law. 9. Possession: Seller shall deliver possession of the Property to Purchaser at Closing. 10. Seller’s Representations, Warranties and Covenants: 10.1. Seller represents and warrants to Purchaser on the Effective Date and on the Closing Date that: 10.1.1. there is no litigation pending or threatened against Seller or the Property that will be binding on the Purchaser or might detrimentally affect the use or operation of the Property or the value of the Property or adversely affect the ability of Seller to perform its obligations under this Agreement; 10.1.2. Seller has granted no other person any right or option to acquire the Property, or any portion of the Property and, no other person has any right or option to acquire the Property, or any portion of the Property; 10.1.3. Neither the execution of this Agreement nor the consummation by Seller of the transactions contemplated by this Agreement will: (i) conflict with, or result in a breach of, the terms, conditions or provisions of, or constitute a default, or result in a termination of, any agreement or instrument to which Seller is a party; (ii) violate any restriction to which Seller is subject; or (iii) constitute a violation of any applicable code, resolution, law, statute, regulation, ordinance, judgment, rule, decree or order.