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requested documents to verify Seller's foreign person status. If withholding is required, Seller authorizes Closing Company to
<br />withhold such amount from Seller's proceeds. Seller should inquire with Seller's tax advisor to determine if withholding applies or
<br />if an exemption exists.
<br />15.9.2. Colorado Withholding. The Colorado Department of Revenue may require a portion of the Seller's proceeds
<br />be withheld after Closing when Seller will not be a Colorado resident after Closing, if not otherwise exempt. Seller agrees to
<br />cooperate with Buyer and Closing Company to provide any reasonably requested documents to verify Seller's status. If withholding
<br />is required, Seller authorizes Closing Company to withhold such amount from Seller's proceeds. Seller should inquire with Seller's
<br />tax advisor to determine if withholding applies or if an exemption exists.
<br />16. PRORATIONS AND ASSOCIATION ASSESSMENTS.
<br />16.1. Prorations. The following will be prorated to the Closing Date, except as otherwise provided:
<br />16.1.1. Taxes. Personal property taxes, if any, special taxing district assessments, if any, and general real estate taxes
<br />for the year of Closing, based on ❑ Taxes for the Calendar Year Immediately Preceding Closing ® Most Recent Mill Levy
<br />and Most Recent Assessed Valuation, adjusted by any applicable qualifying seniors property tax exemption, qualifying disabled
<br />veteran exemption or ❑ Other .
<br />16.1.2. Other Prorations. Water and sewer charges, propane, interest on continuing loan and
<br />16.1.3. Final Settlement. Unless otherwise specified in Additional Provisions, these prorations are final.
<br />17. POSSESSION. Possession of the Property and Inclusions will be delivered to Buyer on Possession Date at Possession Time,
<br />subject to the Leases as set forth in § 10.6.1.1. If the parties have executed a Post -Closing Occupancy Agreement, such agreement
<br />will control Possession Date and Possession Time.
<br />If Seller, after Closing occurs, fails to deliver possession as specified, Seller will be subject to eviction and will be additionally
<br />liable to Buyer, notwithstanding § 20.2. (If Seller is in Default), for payment of $50 per day (or any part of a day notwithstanding
<br />§ 3.3., Day) from Possession Date and Possession Time until possession is delivered. Additionally, Buyer may pursue a claim
<br />against Seller for any of Buyer's actual additional damages incurred by Buyer in excess of such amount.
<br />GENERAL PROVISIONS I
<br />18. CAUSES OF LOSS, INSURANCE; DAMAGE TO INCLUSIONS AND SERVICES; CONDEMNATION; AND
<br />WALK-THROUGH. Except as otherwise provided in this Contract, the Property and Inclusions will be delivered in the condition
<br />existing as of the date of this Contract, ordinary wear and tear excepted.
<br />18.1. Causes of Loss, Insurance. In the event the Property or Inclusions are damaged by fire, other perils or causes of loss
<br />prior to Closing (Property Damage) in an amount of not more than ten percent of the total Purchase Price and if the repair of the
<br />damage will be paid by insurance (other than the deductible to be paid by Seller), then Seller, upon receipt of the insurance proceeds,
<br />will use Seller's reasonable efforts to repair the Property before Closing Date. Buyer has the Right to Terminate under § 24.1., on
<br />or before Closing Date, if the Property is not repaired before Closing Date, or if the damage exceeds such sum. Should Buyer elect
<br />to carry out this Contract despite such Property Damage, Buyer is entitled to a credit at Closing for all insurance proceeds that were
<br />received by Seller (but not the Association, if any) resulting from damage to the Property and Inclusions, plus the amount of any
<br />deductible provided for in the insurance policy. This credit may not exceed the Purchase Price. In the event Seller has not received
<br />the insurance proceeds prior to Closing, the parties may agree to extend the Closing Date to have the Property repaired prior to
<br />Closing or, at the option of Buyer, (1) Seller must assign to Buyer the right to the proceeds at Closing, if acceptable to Seller's
<br />insurance company and Buyer's lender; or (2) the parties may enter into a written agreement prepared by the parties or their attorney
<br />requiring the Seller to escrow at Closing from Seller's sale proceeds the amount Seller has received and will receive due to such
<br />damage, not exceeding the total Purchase Price, plus the amount of any deductible that applies to the insurance claim.
<br />18.2. Damage, Inclusions and Services. Should any Inclusion or service (including utilities and communication services),
<br />system, component or fixture of the Property (collectively Service) (e.g., heating or plumbing), fail or be damaged between the date
<br />of this Contract and Closing or possession, whichever is earlier, then Seller is liable for the repair or replacement of such Inclusion
<br />or Service with a unit of similar size, age and quality, or an equivalent credit, but only to the extent that the maintenance or
<br />replacement of such Inclusion or Service is not the responsibility of the Association, if any, less any insurance proceeds received by
<br />Buyer covering such repair or replacement. If the failed or damaged Inclusion or Service is not repaired or replaced on or before
<br />Closing or possession, whichever is earlier, Buyer has the Right to Terminate under § 24.1., on or before Closing Date, or, at the
<br />option of Buyer, Buyer is entitled to a credit at Closing for the repair or replacement of such Inclusion or Service. Such credit must
<br />not exceed the Purchase Price. If Buyer receives such a credit, Seller's right for any claim against the Association, if any, will survive
<br />Closing.
<br />18.3. Condemnation. In the event Seller receives actual notice prior to Closing that a pending condemnation action may
<br />result in a taking of all or part of the Property or Inclusions, Seller must promptly notify Buyer, in writing, of such condemnation
<br />action. Buyer has the Right to Terminate under § 24.1., on or before Closing Date, based on such condemnation action, in Buyer's
<br />sole subjective discretion. Should Buyer elect to consummate this Contract despite such diminution of value to the Property and
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