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This excerpt taken from the RICK 8-K filed May 14, 2008. Delivery
of Documents and Purchase Price. (a) At the
Closing, Seller shall deliver to Purchaser the following (the "Closing
Documents"):
(i) a
general warranty deed in appropriate form to convey the Property to the
Purchaser free and clear of any liens or encumbrances (the "Deed") subject to any
agreed upon Permitted Exceptions;
(ii) an
Owner's Title Policy covering the Property in the full amount of the Purchase
Price to be paid therefor issued by the underwriter for the Title Company
pursuant to the Title Binder as provided herein;
(iii) any
and all such other documents and instruments as may be reasonably necessary to
effectuate the transfer of the Property as provided herein.
(b) At
the Closing, Purchaser shall deliver to Seller (i) the Purchase Price for the
Property less the Initial Earnest Money, the $1,500,000 Cash Payment and any
Additional Earnest Money in immediately available funds, either by wire transfer
or cashier’s check, and (ii) any and all such other documents and instruments as
may be reasonably necessary to effectuate the transfer of the Property and other
transactions as provided herein.
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