12. ATTORNEY FEES AND COSTS
If any litigation is instituted with respect to enforcement of the terms of this contract, the prevailing party
shall be entitled to recover all costs incurred, including, but not limited to, reasonable attorney's fees and
court costs.
13. CONDITION OF THE PROPERTY
Seller agrees to deliver the Property to Buyer in its present condition, ordinary wear and tear excepted,
and further certifies and represents that Seller knows of no latent defect in the Property. All heating,
cooling, plumbing, electrical, sanitary systems, and appliances shall be in good 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 wil
l 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 its sole expense (in which case the time for closing shall be
reasonably extended as necessary). If the costs of such repairs shall exceed [%] 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 and deduct [%] from the purchase price 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.
14. 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. Seller agrees to provide true and
accurate copies of all written leases to Buyer within [NUMBER] 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. Seller warrants that any rent rolls
and other income and expense data provided to Buyer are complete and accurate, all of which must be
acceptable to Buyer.
15. NOTICES
Any notices required to be given herein shall be sent to the parties listed below at their respective
addresses either by personal delivery or by certified mail - return receipt requested. Such notice shall be
effective upon delivery or mailing.
16. BINDING EFFECT OF AGREEMENT
This agreement and the covenants and agreements of it shall bind and inure to the benefit of the parties,
and their respective heirs, personal representatives, successors and assigns. Unless the agreement
otherwise requires, the covenants of this agreement shall survive the transfer of title.
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