ION OF THE PROPERTY:  Seller agrees to deliver the Property to Buyer in its present condition, ordinary wear and tear excepted.  All heating, cooling, plumbing, electrical, sanitary systems, and appliances shall be in working order at the time of closing.  Seller represents and warrants that the personal property conveyed with the premises shall be the same property inspected by Buyer and that no substitutions will be made without the Buyer’s written consent.  Buyer may also inspect or cause to be inspected the foundation, roof supports, or structural member of all improvements located upon the Property.  If any such system, appliance, roof, foundation, or structural member shall be found defective, Buyer shall notify Seller at or before closing and Seller shall thereupon remedy the defect forthwith at his/her sole expense (in which case the time for closing shall be reasonably extended as necessary).  If the costs of such repairs shall exceed 3% of the total purchase price, Seller may elect not to make such repairs and the Buyer may elect to take the Property in such defective condition or Buyer may, at his/her option, elect to terminate this contract and receive the full refund of all deposits and other sums tendered hereunder.  In addition, Seller agrees to remove all debris from the Property by date of possession.
12. OCCUPANCY:  Seller shall deliver possession to Buyer no later than the closing date unless otherwise stated herein.  Seller represents that there are no persons occupying the Property except the following tenants of the Seller:
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Seller agrees to deliver exclusive occupancy of the Property to Buyer at the time of closing unless otherwise specifically  stated herein.  Seller agrees to provide true and accurate copies of all written leases to Buyer within five (5) days after the date of acceptance of this contract.  Said leases are subject to Buyer’s approval.  Seller shall provide such letters notifying tenants to pay rent to the buyer after closing as Buyer may reasonably request.
13. MORTGAGE OR THIRD PARTY FINANCING:  According to paragraph 1(d) of this contract, it is agreed that Buyer will require a new mortgage loan to finance this purchase.  The application for this mortgage will be made with a lender acceptable to Buyer, and unless a mortgage loan, acceptable to Buyer, is approved without contingencies other than those specified in this contract within _______________ days from the date of acceptance of this contract, the Seller or Buyer shall have the right to terminate this contract and, at that time, all sums deposited by Buyer shall be returned to Buyer and Buyer shall return any surveys and copies of leases received from Seller.  Notwithstanding the aforesaid provisions, if Buyer so requests and if Seller agrees, Seller shall have _______________ days to offer Buyer a purchase money mortgage on said property at terms acceptable to and approved by Buyer, and this contract shall remain in full force and effect.  Said purchase money mortgage shall be fully subject to the terms and conditions of the paragraph relating to Seller Financing below.
14. SELLER FINANCING: According to paragraph 1(f) above, it is understood that the Buyer will execute and deliver at the closing, a Promissory Note to Seller which shall provide for full or partial prepayment without penalty [  ] and shall bear interest at the rate of ___________% per annum beginning on __________________________ in the amount of $____________ per ___________ [  ] such that the amount of such payments shall amortize the debt due in _______________ years with all unpaid principal and interest due ________________ .  The said Promissory Note shall be secured by a mortgage acceptable to Buyer.
15. ARTICLES OF AGREEMENT FOR WARRANTY DEED

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