CONTRACT OF SALE - STATE OF SOUTH CAROLINA - COUNTY OF RICHLAND
RE: TMS 11306-03-05, 1616 Catawba Avenue, Columbia, SC, 29205.
RECEIVED from Ms. Mary E. Ginn (Buyer), this___day of___________, 1997, the sum of Five Thousand Dollars ($5,000.00), on account of the purchase of the following described property upon the terms and conditions as stated herein:
LOT DESCRIPTION: The Northwestern corner of this lot is adjacent to Catawba Avenue and is the same as the Northeastern corner of an adjacent lot to the West. From said Northwestern corner the line extends along Catawba Avenue over about 103 feet East, and there corners and runs South parallel with a chain link fence about 208.8 feet, and there corners and runs about 52 feet West, and there corners and runs about 51.5 feet North, and there corners and runs about 48 feet West, and there corners and runs about 48 feet North, and there coners and runs about 10 west, and there corners and runs about 104.3 feet North to the Northwestern corner, according to the Richland County Assessors office. This lot contains approximately 18,000 square feet.
DERIVATION: Mrs. Geneva P. Maxberry conveyed title to 1616 Catawba Avenue, Columbia, SC (TMS 11306-03-05) to Seller on August 16, 1978, and the Congaree Presbytery, Presbyterian Church (USA) conveyed title to the remainder of this property (TMS 11306-03-04) on February 1, 1984.
TERMS AND CONDITIONS OF SALE:
1. Buyer is to survey this lot and have a proper title examination before closing. All costs of transfer, including documentary stamps, deed preparation, cost of survey, etc. are to be paid by Buyer. Property taxes are to be prorated to date of sale. Payments to Seller shall be by cash, cashier's check, or certified funds.
2. Any improvement or feature thereof on this lot is a worthless liability and suitable for demolition only, has or may have lead paint and termite damage, etc., is defective in every way, and is sold AS IS. No guarantee or warranty of any kind, either express or implied, as to the merchantability or fitness for a particular purpose, or concerning any condition, certification, dimensions, or inspection, of this property, is given.
The Buyer agrees that after conveyance of title the Seller may continue receiving mail at Seller's street mailbox known as 1614 Catawba Avenue and harvesting Seller's fruit trees, that Seller shall retain ownership of Seller's tin roofing worth $2,000.00 on a building on this property, and that Buyer shall allow Seller to remove said tin roofing from said building at Seller's own risk two years after Seller conveys title to this property to the Buyer.
The Buyer knows of all encroachments by neighbors' fences on the Seller's property, and of all encroachments by the Seller's fences on neighboring lots and that the existing fences may have established ownership by adverse possession. Buyer shall pay Seller for all the land area contained within the existing fence lines which border Seller's property. Buyer agrees that Buyer's survey shall specify all encroachments and that the Seller shall convey such areas of encroachment by quitclaim deed only.
3. Closing is to be during the first week of January, 1998, or during the month of December, 1997 if Seller so chooses. Possession shall be given to Buyer immediately after closing.
4. Before closing, should Seller's title be defective or unmarketable, or performance of this contract violate any law, or any improvement be destroyed without written agreement of Buyer, this contract shall be terminated and earnest money refunded, and Buyer shall have no right to specifically enforce this contract.
5. This contract shall be binding on both parties, their principals, heirs, personal representatives and assigns as State law permits, and expresses the entire agreement between the Buyer and Seller. There is no other agreement, oral or otherwise, modifying the terms thereof.
6. For the purpose of creating a permanent record for future generations only, the Seller may attach to his deed of title as many additional pages of information unrelated to this transaction as the Seller chooses. Buyer shall record said pages with the deed and Seller shall pay Seller the additional cost of recording these additional pages attached to the said deed after Buyer records them.
UPON PAYMENT of the further sum of Ninety One Thousand One Hundred and Eighty Dollars ($91,180.00) for a ten thousand square foot rectangular area fronting fifty (100) feet on Catawba Avenue, plus Three Dollars and Twelve and a Half Cents ($3.125) per square foot for the remaining area of Seller's property (the price for the approximately 8,000 square foot remainder is expected to amount to about $25,000.00, and the total selling price of all three areas of this lot is expected to be about $121,180.00), Seller covenants and agrees and binds himself, his heirs, executors, administrators and assigns, to convey, during the first week of January, 1997, or during the month of December, 1997 if Seller so chooses, by limited warranty deed the said property above described to the said Ms. Mary E. Ginn, her heirs or assigns, subject to normal utility easements, restrictive covenants and conditions of record, provided the same do not render the title unmarketable; and subject to all governmental statutes, zoning regulations, ordinances and rules in effect on the date of delivery of this deed in the locality where the premises are situate.
And upon tender of such deed Buyer agrees to fully comply with the terms of this contract of sale.
Upon failure of Buyer to comply with the terms hereof within the stipulated time the Seller is to have the right to retain the amount this day paid, and to enforce the performance of this contract according to law.
Witness the parties hereto by their hands and seals in duplicate the day and year written below.
Witnesses for Purchaser:
Witnesses for Seller: