Purchase And Sale Agreement (Page 3 of 7) in pdf

5.4

If the Improvements were constructed before 1978, Purchaser may conduct a risk

assessment or inspection to determine the presence of lead-based paint or lead-based paint hazards

on the Improvements. Purchaser may terminate this transaction by delivery to Seller written notice

of Purchaser's disapproval of the risk assessment or inspection within ten (10) days after the date of

this Agreement, in which case, this transaction shall be null and void. The parties shall complete and

execute a Disclosure of Information and Acknowledgment and Seller shall furnish to Buyer a

Lead-Based Paint brochure.

5.5

Except as provided above, Seller has made no representations, warranties, or other

agreements concerning matters relating to the Property. Seller has made no agreement or promise to

alter, repair, or improve the Property. Purchaser represents that Purchaser has made their own

examination of the Property and is buying the Improvements based on Purchaser's own examination

and personal knowledge of the Property and that Purchaser takes the Property in the condition,

known or unknown, existing at the time of this Agreement "AS IS." Seller has provided Purchaser

with a Seller's Property Disclaimer Statement.

CLOSING.

6.1

Closing. This transaction will be closed on a date to be selected by the parties but no

later than

("Closing").

6.2

Manner and Place of Closing. This transaction will be closed in the offices of First

American Title Insurance Company of Oregon at 4500 SW Kruse Way, Suite 100, in Lake Oswego,

Oregon ("Escrow"), or at such other place as the parties may mutually select. Closing shall take

place in the manner and, in accordance with the provisions set forth in this Agreement.

6.3

Prorations, Adjustments. Real property taxes and assessments shall be prorated as

of Closing. Seller shall be responsible for any and all deferred or abated taxes and related interest

and charges, any past due taxes and assessments through Closing and shall cause such to be paid

and removed at or before Closing. The current year's taxes shall be prorated between the parties as

of Closing. In addition, insurance, interest, water and other utilities constituting liens shall be

prorated as of Closing.

6.4

Certification of Nonforeign Status. Seller shall deliver to Purchaser at Closing a

Certificate of Nonforeign Status, setting forth Seller's address and United States taxpayer

identification number and certifying that Seller is not a foreign person as so defined.

6.5

Events of Closing. Provided the Title Company is in a position to cause the title

insurance policy to be issued as described below, sale of the Improvements will be closed on the

Closing as follows:

(a)

The Escrow officer will perform the prorations described in Section 6.3, and

the parties shall be charged and credited accordingly.

Purchase And Sale Agreement Page 3