Offer To Purchase Improved Property For Homeownership Or Investor Owner (Page 4 of 6) in pdf

16. Proration. Property taxes and/or utility bills, if any, shall be pro-rated to the date of closing. Seller shall be

responsible only for special assessments of record as of the date this Offer is accepted by Seller. Special

assessments that are the responsibility of Seller, but that have not been billed or paid, may be deducted from

the Purchase Price at closing and paid by Buyer when due. If the Purchase Price is inadequate to pay such

Special Assessments, Seller shall pay such Special Assessment when due. Rent, if any, shall be prorated to the

date of closing. Unless otherwise disclosed, Seller holds no security deposits in respect of any tenant now or

formerly occupying the Property.

Seller Termination. Seller may terminate this Offer and return Earnest Money and Extension Fee if Seller is

17.

unable to provide marketable title or Seller is unable or unwilling to remove valid objections to title prior to

closing. If Property is damaged prior to closing, Seller reserves the right to terminate this Offer and return

Earnest Money to Buyer or adjust the Purchase Price. Return of the Earnest Money shall release Seller from

any claims arising from this transaction.

18. Energy Efficiency. Sale of improved properties that will be used as rental units may be subject to the

Wisconsin Department of Commerce “Rental Unit Energy Efficiency Standards,” Chapter 67, Wisconsin

Administrative Code and Chapter 101.122, Wisconsin Statutes. Buyer is responsible for all costs, expenses

and fees for complying with this program.

19. Transfer Fee or Return. No real-estate-transfer fee shall be due at closing pursuant to § 77.25(2), Wis. Stats,

and no real-estate-transfer return shall be required pursuant to the exemption from returns under § 77.255,

Wis. Stats.

20. Recording Deed. Promptly after Closing, the Deed shall be recorded by the Seller or other party, such as a

title company, as required by Milwaukee Code of Ordinances § 304-49-10. Buyer shall be responsible for

the recording fee and shall provide Seller at closing with a check to record the Deed as directed on the

closing statement.

21. Property Recording. Unless the Property is to be owner –occupied pursuant to Section 2, Buyer shall register

the Property with DNS and shall execute at closing the DNS Property Recording Form.

22. Successors and Assigns. Once this Offer is accepted by Seller, this Offer binds and inures to the benefit of

the parties hereto and their successors and assigns. Buyer may not assign any rights, or obligations under

this Offer without the written consent of Seller.

23. Facsimile and Counterparts. This Offer may be executed in one or more counterparts which, when taken

together, shall constitute one and the same document. Facsimile signatures shall be accepted as originals.

24. Entire Agreement. This Offer constitutes the entire agreement between the parties and all prior statements,

written or oral, are terminated and of no effect. This Offer may only be amended by a written agreement

signed by all the parties hereto.

25. Severable. The terms and provisions of this Offer are deemed separable and severable such that the

invalidity or unenforceability of any term or provision shall not affect or impair the validity or enforceability of

the remaining terms and provisions.

26. Survival. The terms, provisions, and agreements herein shall survive Closing and delivery and recording of

the Deed.

27. Notices. All notices permitted or required hereunder shall be considered given (i) upon receipt if hand-

delivered by commercial courier or otherwise personally delivered, (ii) if sent by facsimile, then the notice

must be sent during business hours (i.e. 8:30 A.M to 4:30 P.M., Monday through Friday) on days that Seller’s

City Hall is open for business, and the notice shall be deemed given when sent as per the following and so

long as the notice is successfully sent (i.e. the sender does not receive any error or “busy” or “inability to

send” notification), and (iii) within two business days of depositing same in the U.S. mail, postage-paid,

addressed by name and address to the party intended as follows:

Offer To Purchase Improved Property For Homeownership Or Investor Owner Page 4

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