7 Contract To Buy And Sell Real Estate Page 11
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1710.9.
Existing Leases; Modification of Existing Leases; New Leases. Seller states that none of the Leases to be assigned
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to the Buyer at the time of Closing contain any rent concessions, rent reductions or rent abatements except as disclosed in the
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Lease or other writing received by Buyer. Seller will not amend, alter, modify, extend or cancel any of the Leases nor will Seller
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enter into any new leases affecting the Property without the prior written consent of Buyer, which consent will not be unreasonably
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withheld or delayed.
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11. TENANT ESTOPPEL STATEMENTS.
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11.1.
Tenant Estoppel Statements Conditions. Buyer has the right to review and object to any Estoppel Statements.
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Seller must obtain and deliver to Buyer on or before Tenant Estoppel Statements Deadline (§ 3), statements in a form and
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substance reasonably acceptable to Buyer, from each occupant or tenant at the Property (Estoppel Statement) attached to a copy of
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the Lease stating:
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11.1.1. The commencement date of the Lease and scheduled termination date of the Lease;
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11.1.2. That said Lease is in full force and effect and that there have been no subsequent modifications or
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amendments;
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11.1.3. The amount of any advance rentals paid, rent concessions given, and deposits paid to Seller;
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11.1.4. The amount of monthly (or other applicable period) rental paid to Seller;
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11.1.5. That there is no default under the terms of said Lease by landlord or occupant; and
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11.1.6. That the Lease to which the Estoppel is attached is a true, correct and complete copy of the Lease demising
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the premises it describes.
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11.2.
Tenant Estoppel Statements Objection. Buyer has the Right to Terminate under § 25.1, on or before Tenant
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Estoppel Statements Objection Deadline (§ 3), based on any unsatisfactory Estoppel Statement, in Buyer’s sole subjective
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discretion, or if Seller fails to deliver the Estoppel Statements on or before Tenant Estoppel Statements Deadline (§ 3). Buyer
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also has the unilateral right to waive any unsatisfactory Estoppel Statement.
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CLOSING PROVISIONS
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12. CLOSING DOCUMENTS, INSTRUCTIONS AND CLOSING.
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12.1.
Closing Documents and Closing Information. Seller and Buyer will cooperate with the Closing Company to
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enable the Closing Company to prepare and deliver documents required for Closing to Buyer and Seller and their designees. If
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Buyer is obtaining a new loan to purchase the Property, Buyer acknowledges Buyer’s lender is required to provide the Closing
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Company, in a timely manner, all required loan documents and financial information concerning Buyer’s new loan. Buyer and
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Seller will furnish any additional information and documents required by Closing Company that will be necessary to complete this
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transaction. Buyer and Seller will sign and complete all customary or reasonably required documents at or before Closing.
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12.2.
Closing Instructions. Colorado Real Estate Commission’s Closing Instructions
Are
Are Not executed with
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this Contract.
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12.3.
Closing. Delivery of deed from Seller to Buyer will be at closing (Closing). Closing will be on the date specified as
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the Closing Date (§ 3) or by mutual agreement at an earlier date. The hour and place of Closing will be as designated by
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.
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12.4.
Disclosure of Settlement Costs. Buyer and Seller acknowledge that costs, quality, and extent of service vary
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between different settlement service providers (e.g., attorneys, lenders, inspectors and title companies).
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13. TRANSFER OF TITLE. Subject to tender of payment at Closing as required herein and compliance by Buyer with the
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other terms and provisions hereof, Seller must execute and deliver a good and sufficient ______________________________ deed
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to Buyer, at Closing, conveying the Property free and clear of all taxes except the general taxes for the year of Closing. Except as
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provided herein, title will be conveyed free and clear of all liens, including any governmental liens for special improvements
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installed as of the date of Buyer’s signature hereon, whether assessed or not. Title will be conveyed subject to:
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13.1.
Those specific Exceptions described by reference to recorded documents as reflected in the Title Documents
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accepted by Buyer in accordance with Record Title (§ 8.2),
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13.2.
Distribution utility easements (including cable TV),
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13.3.
Those specifically described rights of third parties not shown by the public records of which Buyer has actual
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knowledge and which were accepted by Buyer in accordance with Off-Record Title (§ 8.3) and Current Survey Review (§ 9),
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13.4.
Inclusion of the Property within any special taxing district,
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13.5.
Any special assessment if the improvements were not installed as of the date of Buyer’s signature hereon, whether
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assessed prior to or after Closing, and
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13.6.
Other
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CBS4-8-13. CONTRACT TO BUY AND SELL REAL ESTATE (LAND)
Page 11 of 17
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