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Nebraska Uniform Purchase Agreement Form

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Nebraska Uniform Purchase Agreement Form Page 2
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8. Additional Provisions: ___________________________________________________________________________________________________
_________________________________________________________________________________________________________________________
_________________________________________________________________________________________________________________________
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9. Taxes: ____
Douglas/Sarpy County Taxes: All consolidated real estate taxes which become delinquent in the year in which closing
takes place shall be treated as though all are current taxes, and those taxes shall be prorated as of date of closing.
____
Other Counties Taxes: All consolidated real estate taxes for the year in which closing takes place (based on current
assessment and tax rate) shall be prorated as of date of closing.
10. Rents, Deposits and Leases, if rented: All leases and rent shall be current at closing. Any tenant deposits and leases shall be assigned to
Purchaser at no cost. All rents shall be prorated to date of closing. Copies of all current leases shall be provided to the Purchaser at the time of
closing.
11. Sanitary and Improvement District (S.I.D.): Purchaser understands that this property is located within S.I.D. # ________ and acknowledges
receipt of the most recently filed S.I.D. Statement.
12. Conveyance of Title: Seller shall through Seller’s Agent or closing agent furnish a current title insurance commitment or complete abstract of title
to Purchaser as soon as practical. If title defects are found, Seller must cure them within a reasonable time. If title defects are not cured within a
reasonable time period, the Purchaser may rescind this agreement and the Deposit shall be refunded. Approximate closing date to be
_______________________, and possession date shall be ____________________, at ____m. The Real Estate Settlement Procedures Act (“RESPA”)
14 U.S.C. 2681 el. seq. and its accompanying regulations make clear that if the Purchaser(s) pay any part of the title insurance policy, the Seller(s)
cannot make the sale conditioned on the use of a particular title insurance company. A real estate agent or lender cannot require the use of an affiliated
title company nor can their fees be based on such a choice. The cost of any title insurance policies and endorsements shall be equally divided between
Purchaser and Seller. The type of title insurance required is (select one): standard title insurance coverage, or extended title insurance coverage.
13. Escrow Closing: Purchaser and Seller acknowledge and understand that the closing of the sale may be handled by an Escrow Agent. The parties
designate DRI Title & Escrow to be their escrow holder and settlement agent (the “Escrow holder” or “Settlement Agent” or “Escrow /
Settlement Agent”) for the purpose of acting as a fiduciary for both Seller and Purchaser for those actions instructed to be completed by the
Escrow/Settlement Agent in this Agreement receiving as a depository the funds paid in the sale contemplated by this Agreement. Escrow Agent’s
charge for the escrow closing shall be equally divided between Purchaser and Seller unless Purchaser is obtaining a V.A. or F.H.A loan, then such
costs of the closing shall be paid by Seller. It is understood the Purchaser will designate DRI Title & Escrow as the escrow agent. At closing Purchaser
is required to have cash or certified or cashier’s check for the balance of amounts due.
14. State Documentary Tax: The State Documentary Tax on the deed shall be paid by the seller.
15. Insurance: Any risk of loss to the Property shall be borne by the Seller until title has been conveyed to the Purchaser. In the event, prior to closing,
the structures on the Property are materially damaged by fire, explosion or any other cause, Purchaser shall have the right to rescind this Purchase
Agreement, and Seller shall then refund the Deposit to Purchaser. Purchaser agrees to provide their own hazard insurance at closing.
16. Wood Infestation: Purchaser (Seller, in the case of a new V.A. loan) agrees to pay the cost of a wood destroying insect inspection of the building
and attached and detached structures, and Seller agrees to pay for any treatment or repair work found necessary for issuance of a wood destroying
insects warranty. Purchaser agrees to accept the treated Property upon completion of repairs provided, however, that if treatment and repairs exceed
2% of the purchase price or __________ , this Purchase Agreement may be cancelled by Seller and/or Purchaser, by written notice delivered to the
other party within 5 days of receipt of wood destroying insect inspection report, which inspection report must be delivered to Seller and Purchaser
within 10 Days after acceptance of this Uniform Purchase Agreement.
17. Smoke Detector: Seller agrees to install, at Seller’s expense, smoke detectors as required by law.
18. Condition of the property: Seller agrees to maintain the heating, air conditioning, water heater, sewer, plumbing, electrical systems and any built-
in appliances in functional and operable condition until delivery possession. Seller will allow Purchaser to walk through property ____ hours before
closing to confirm compliance with this Uniform Purchase Agreement.
19. Survey: Purchaser agrees to pay for a Plot Plan Survey, but will waive if not required by lender.
20. Seller Property Condition Disclosure Statement: Purchaser acknowledges receipt of Seller Property Condition Disclosure Statement as required
by Nebraska State Law.
Nebraska Uniform Purchase Agreement Form