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RI OREF 'Q Sale Agreement 1815BM
<br /> „.....«,..,.... ,� RESIDENTIAL REAL ESTATE SALE AGREEMENT
<br /> OREF 001 I Ver.1.1 I Page 10 of 11
<br /> 433 35. IRC 1031 EXCHANGE: In the event Buyer or Seller Sects to complete an IRC 1031 exchange in this transaction,the other pally agrees to
<br /> 434 cooperate with them and the acconmodator. if any, in a manner necessary to complete the exchange, so long as it will not delay the Close of
<br /> 435 escrow or cause additional expense or liability to the cooperating party. Unless otheodse provided herein, this provision shall not become a
<br /> 436 contingency to the Closing of this transaction.
<br /> 437 38.1 LEVY OF ADDITIONAL PROPERTY TAXES:The Property: (check one) ❑is ®Is not specially assessed for property taxes (e.g., farm,
<br /> 438 forest or other)in a way resulting in the levy of additional taxes in the future.If it is specially assessed.Seller represents the Property is current as
<br /> 439 to Income cr other conditions required to preserve Is deferred tax status. If,as a result of Buyers actions a the Closing of this transaction. the
<br /> 440 Property either is disqualwed from special use assessment or loses Its deferred property tax status, unless otherwise specifically provided In this
<br /> 441 Agreement,Buyer shall be responsitle for and shall pay when due,any deferred and/or additional taxes and Interest that may be levied against the
<br /> 442 Property and shall hold Seller completely harmless therefrom. However, if as a result of Sellers actions prior to Closing,the Property either Is
<br /> 443 disqualified from Its entitlement to special use assessment or loses its deferred property tax status,Buyer may.at Buyer's sole option. promptly
<br /> 444 terminate this transaction and receive a refund of all deposits paid by Buyer in anticipation of Closing;or Close this transaction and hold Seger
<br /> 445 responsible to pay into Escrow all deferred and/or additional taxes and interest levied or recaptured against the Properly and hold Buyer completely
<br /> 446 hamless therefrom.The preceding shall not be construed to limit Buyers or Seller's available remedies or damages arising from a breach of this
<br /> 447 Section 36.1.(Levy of Additional Property Tales).
<br /> 448 36.2 HISTORIC PROPERTY DESIGNATION:If the Property Is or may be subject to a Historic Properly local ordinance or is subject to or may
<br /> 449 qualify for the Historic Property Special Property Tax Assessment under ORS 356.475 to 358.565, Seller shall provide OREF4345A Historic
<br /> 450 Property Addendum.
<br /> DISPUTE RESOLUTION
<br /> 451 37. RUNG OF CLAIMS: M claims. controversies end disputes between Seller. Buyer, Agents, and/or Firms, relating to the enforcement or
<br /> 452 interpretation of this Sale Agreement(including those for rescission),as well as those relating to the validity Or scope of the Sale Agreement.and all
<br /> 453 matters conceming the jurisdiction of the arbltrato(s) and/or Arbitration Service of Portland, to hear and decide questions of arbitmhlity
<br /> 454 (hereinafter collectively referred to as *Claim?). shall be exclusively resolved in aaordance with the procedures set forth herein, which shah
<br /> 455 survive Closing or earlier termination d this transaction.M Claims shall be governed exclusively by Oregon law.and venue shall be placed in the county
<br /> 456 where the real property H situated.Filing a Claim for subltretlpn shall be treated the same as Filing in court for purposes of meeting any applicable
<br /> 457 statutes of limitation or stabile of ultimate repose, and for purposes of filing a lis pendens.BY CONSENTING TO THE PROVISIONS HEREIN.
<br /> 458 BUYER MO SELLER ACKNOWLEDGE THEY ARE GIVING UP THE CONSTITUTIONAL RIGHT TO HAVE CLAIMS TRIED BY A JUDGE
<br /> 459 OR 4URY.18STATE OR FEDERAL COURT.INCLUDING ALL ISSUES RELATING TO THE ARBITRABILITY OF SAID CLAIMS.
<br /> 460 38. EXCLUSIONS:The following shall net constitute Claims:(1)My proceeding to enlace or Interpret a mortgage,trust deed,land sale contract
<br /> 461 or recorded construction lien; (2) A fordde may and detainer adlon (eviction); (3) If the matter is exclusively between REALTORS® and Is
<br /> 462 otherwise required to be resolved under the Professional Standards Ethics and Arbitration provisions of the National Association of REALTORS®
<br /> 463 (4)If the matter relates to a commission or fee with an Agent or Firm,and the written listing,service or fee agreement with Buyer a Seller contains
<br /> 464 a mandatory mediation and/or arbitration provelon;and(5)Filing In court fa the issuance of provisional process described under the Oregon Rules
<br /> 465 of CMI Procedure. provided, however, such Ming shall not constitute a waiver of the right or duty to utilize the dispute resolution procedures
<br /> 466 described herein/moths adjudication of any Claims.
<br /> 467 39.1, SMALL CLAIMS BETWEEN BUYER AND SELLER: All Claims between Buyer and Sager, within the jurisdiction of the Small Claims
<br /> 468 Court of the county In which the property N located,shall be brought and decided there.In lieu of mediation.arbitration or litigation In any other thrum.
<br /> 469 Notwlthsdnding ORS 46.455(3),neither Buyer nor Seller shall have a right to request a jury trial and so remove the matter from the Small Claims
<br /> 470 Department of the Circuit Court Ajudgment in Small Claims Court is final and binding and there is no right of appeal.
<br /> 471 39.2. MEDIATION AND ARBITRATION BETWEEN BUYER AND SELLER: If Buyers and/or Sellers Agent Is a member of the National
<br /> 472 Association of REALTORS®alt Claims shall be submitted to mediation as offered by the local REALTOR®Association,If available If mediation is
<br /> 473 not available through the Agents REALTORS organization,then all Claims shall be submitted to mediation through the program administered by
<br /> 474 Arbitration Service of Poland('ASP).All Claims that have not been resolved by mediation as described herein shall be submitted to final and
<br /> 475 binding arbitrstlon In accordance with the than-existing rules of ASP. The prevaaiing OWN In any arbitration between Buyer and Seller shall be
<br /> 476 entitled to recovery of ell reasonable attorney fees, Ming fees, costs, disbursements, end mediator end arbitrator fees. Provided. however, a
<br /> 477 prevailing party shall not be entitled to any award of attorney fees unless It is got established to the satisfaction of the abrrator(s)(or judge, If
<br /> 478 applicable)the prevailing party offered or agreed in writing to participate in mediation prior to,or promptly upon,the filing for arbitration. .,
<br /> 479 39,3 MEDIATOR AND ARBITRATION INVOLVING AGENTS/FIRMS: All Claims that include Agents or their Firms shall be resolved in
<br /> 480 accordance with the medlatlan and arbitration process deserted In Section 39.2(Mediation end Arbitration Between Buyer end Seller).above,and
<br /> 481 If applicable,the prevailing party shalt be entitled to an award of attorney fees.filing fees,costs.disbursem: a,. mediator and arbitrator fees,
<br /> 462 as provided therein. / f
<br /> Buyer Initials d% Date 11 /22/2021 Seller Initials :: /_Date ///F 2,
<br /> This from Manta been licensed for use solely by Jerry Jones pursuant to a Forms anse Ag - tt,Oregon Real Estate Forme.LLC.
<br /> LINES WRH THIS SYMBOL r REOUIREA SIGNATURE OF BUYER AND/OR SELLER AND DATE
<br /> CopyrighlOregon Real Estate Forms.LLC 2021 www orefoniine,com
<br /> No portion may be reproduced v4thout express permission of Oregon Real Estate Forms.LLC OREF Dol I Page 10 of 11
<br /> Produced with Lore Wolf Transactions(deform Edition)717 N Harwood St.Sure 2200,Dallas.Tx 75201 —w kcLpn uta remount
<br /> Doc ID;4b3g4cleclia6B1aee4e30b59d241c5072ada5dOb
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