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Effective Date, may obtain a title insurance commitment (the "Title Commitment ") to issue an ALTA <br />Owner's Title Insurance Policy from a title insurance company acceptable to Buyer (the "Title <br />Insurance Company ") in the amount equal to the Purchase Price, naming Buyer as the proposed <br />insured. Because the Property was dedicated to Seller on a plat as a park, the Property is being <br />conveyed by Quit Claim Deed with no warranties. Buyer shall accept the title "as is" and the Buyer <br />and Seller shall each be released from all further obligations to each other respecting matters arising <br />from this Contract. <br />4.2. Survey. Buyer may, at Buyer's expense, obtain a survey of the Property (the "Survey ") <br />prepared by a licensed Florida land surveyor within the last thirty (30) days before closing, or in the <br />alternative, an update of an earlier survey re -dated to a point in time within the last thirty (3 0) days <br />which complies with the Minimum Standard Detail Requirements for ALTA/ACSM Land Title <br />Surveys adopted in 2011. Buyer shall have the option of (i) accepting the condition of the Property as <br />disclosed in the Survey in an "as is" condition, or (ii) terminating the Contract, thereupon Buyer and <br />Seller shall each be released from all further liabilities and obligations to each other with respect to all <br />matters arising from this Contract. <br />4.3. Conveyance. Seller shall convey title to the Property to Buyer by Quit Claim Deed <br />(the "Deed "), subject only to: (i) taxes for the year of Closing; and (ii) matters disclosed in the title <br />evidence provided to and accepted or deemed accepted by Buyer. <br />4.4. Place of Closing. Closing shall be held at the office of City Title Services, Inc., 540 <br />E. Horatio, Maitland, FL or such other location as is mutually agreed upon by Buyer and Seller. <br />4.5. Documents for Closing. Buyer's attorney shall prepare the Deed, closing statement, <br />and any other instruments that may be required in connection with Closing. <br />4.6. Expenses. State documentary tax for the Deed and the cost of recording all corrective <br />documents needed to complete the transaction shall be borne by Buyer. Buyer shall pay for the title <br />insurance premium, recording the Deed and all fees and expenses arising from or associated with the <br />simultaneous issuance of a lender's title insurance commitment and policy, if any, and any and all <br />endorsements to such policy required by its lender. Additionally, Buyer agrees to pay Seller's <br />attorneys' fees. <br />4.7. Proration of Taxes. The Seller is exempt from property taxes, therefore the taxes will <br />not be prorated, and Buyer is responsible for payment of any taxes due for the current year. <br />4.8. Special Assessment Liens. Special assessment liens which are certified, confirmed <br />and ratified as of the date of Closing are to be paid by Seller. Special assessment liens which are <br />certified, confirmed and ratified but payable in installments post Closing shall be paid in fall by Seller <br />at Closing. Special assessment liens pending as of the date of Closing shall be assumed by Buyer; <br />provided, however, that if the improvements which form the basis for such special assessment are <br />substantially completed as of the date of Closing they shall be deemed to have been certified, <br />confirmed or ratified and Buyer shall, at Closing, be credited with an amount equal to the last estimate <br />PA <br />