Semiahmoo Lot Sample Clauses

Semiahmoo Lot. Residential real estate lot 33 of the Drayton Hillside I subdivision of The Semiahmoo Company's residential resort development located in Blaine, Washington as legally described on attached Exhibit C-1, which is by this reference incorporated herein (the "Semiahmoo Lot"). Purchaser shall convey the Semiahmoo Lot to Seller at Closing by Statutory Warranty Deed free and clear of encumbrances, subject to current year's real estate taxes not yet due and payable and subject to dues and related owner's association assessments which are not delinquent, prorated as of the Closing Date, any exceptions that come through Seller, and further subject to all conditions, reservations, covenants, restrictions, easements, and other exceptions to title to the Semiahmoo Lot which are commonly applicable to Drayton Hillside I subdivision lots sold by the Semiahmoo Company to third party buyers of lots (all collectively referred to as the "Permitted Exceptions"). Purchaser, at its cost, shall provide Seller with a standard owner's policy of title insurance issued by First American Title Insurance Company, 000 X. Xxxxxxxxxx Xxxxxx, Xxxxxxxxxx, XX 00000 ("First American"), in the amount of $115,000 insuring the condition of title to the Semiahmoo Lot subject only to the standard policy exceptions and exclusions and to the Permitted Exceptions. The agreed value of the Semiahmoo Lot is $115,000. The conveyance of the Semiahmoo Lot will be closed by First American on the Closing Date. Purchaser will pay the real estate excise tax, one half of First American's escrow and closing fees and all other amounts not payable by Seller hereunder. Seller shall pay all real estate taxes and owner's association assessments applicable to the Lot and prorated after the Closing Date, one half of First American's escrow and closing fees and the costs to record the conveyance of the Lot.