A. The buyer shall pay all closing costs, including fees for preparation of documents, escrow fees, and recording fees.

B. The borough reserves the right to require, in the event the buyer desires to remove or cause to be removed timber, sand, or gravel, that prior to commencement of such removal, the remaining principal balance and accumulated interest be paid in full to the borough. If the buyer removes timber or sand or gravel without first paying the borough the remaining principal balance and accumulated interest, the buyer will be subject to a $1,000 fine and triple the value of the timber or material removed.

C. Any subsequent transfer or sale of the property by the purchaser without first paying the remaining balance owed the borough shall be only with the prior written approval of the land manager. Any transfer or sale without an assignment and assumption agreement signed by the mayor shall be null and void.