For each section (and subsections) of the contract, explain what the section is, why it is important to the contract, and what your thoughts are on why it is needed.

5. ACCURATIDISCLOSURE OF SELUNG.PRICE: The Buyer and Seller certify that thas Conest accurately reflects the gross sale price as indicaned oe tine sixty-four (64) of this Centract. The Buyer asd Selier UNDERSTAND AND AGREE that TuIS INFORMATION SHALL. BE DISCLOSED to the Ltternal Revenue Service a teqaired by law. 6. IENANTS,II ANY: This sale is made subject te the following benancies. The Seller wartant that the ie lenabcies ate bet in violution of exiating Municipal, County, Stale or Foderal rules, regulationes of laws 7. QUALIT OF TIILE. This sale wili be sobject to eascmerits and retrictions of recoind, if any, and wach staie of facts as an accurne survey might dischoe icstriction is a reconded limetation on the mareer in which a Reperty owner may use his tentheir Property. The Buger does not have to eremplete te purctuse, however. if any easement, reatiction, or facts dinclosed by an actarale survey would subdantially interfire with the use of the Ptoperty for tesidential purposes. The sale will alw be made sblece to applicable zoning ordinaseen business it the State of New Jerscy, mbject enly so the chaime and rigts decribed in this setion and Section 6. .layer agess to arder with cloiling of title without any reduction in the purchase price. If Buyer elects w voud this Contract, as providod in the preseding detrat Cent dollars 8. BUILING:AND ZONING:LWs: The Burer intends to use the Property as a single fimily home. The Seller stanes, to the beit of Sella's knereledect that this use does sot violate any applicable zowing ordinance, beilding eode or ether law. The Seller will pay for and ebeain Certificale of Occupancy, Cerififate of Land Use Complianse of other similar documena reevited by law and will armange and pay for all iespections required to obtais such docement, SFL.I.ER AGREES TO CORRECT AL.L. VIOL.ATIONS, AT THE SEL.ER'S OWN EXPENSE PRIOR TO THE CLOSEG OF TITLE 9. HEMS INCLDDED IS SALE All of the appliances shall be in working exder as of the clonen of title. This prevision shall net survive closine of tate. This meins than the Selle DOES NOT GUAR.ANTEE, the condition of the appliances AFTER the devd and affidavit of title have teen delivered to the Buyer at the "Closing". The followiag items are also sperifically included: 10. HITS FXCUDED FROMSAl. Yi 11. ASSESSMENTS. All confirmed assessments and all unconfimed assesments which muy be impood by the municipulity for public inprowaments which have bees completed as of the date of Closing ae to be paid in fill by the Seller or credined to the Buyer at the Clesing. A confirmed assessmemt is a lien (legal claim) agains the Property. As unconfirmed assessment is a posentiat lien (legal claim) which, when appeovel by the appoopriale goverimental body, will becone a legal elaim agains the Property. 12. HNALISSPECTIOV: at any reasonsble time immendiately befione Cloinge 13. NEW IFRSFY HOTHI. AVD MULTIPLE DWFII.IVG HFAL.TH AND SAFETY ACT: If the New leney Hotel and Multiple Dwerling Health and Salifty Act wpliss to the Propity, the Seller repsicenes that the Propery comples with the tequiremetes of the Act 14. VO. ASStGVIENT This Agrecmean thall not be assigned without the wriken censest of the Seller. This means that the Buyer may nat trasicer to anyone else his her their rights under this Agrecment to buy the Phoperty. 15. RISk OF LOSS: The riak of loss or damape to the Property by fire or othereise, except ondinary wear ind bear, is on the Seller uneil the Clesing. 16. ADILSTMNIS AT CLOSING- RIGHTS TO POSSESS1ON: Rents, water charges, sewer charysi, real citate tares, interest on any exiating mortgige to be asoumbd by Heyer, and focl are to le appotiood as of the date of actual closing of talk. The Blayer shall be entitkd to poskision of the Propery and any tents or profits from the Roperty, immediatly upon the delivery of the ded and dosing of oile. The Sella stall have the privilege of paying off any person with a claim of righl affecting the Propery from the preeedts of this sak ar the time of Closing