Agenda - Council - 08/28/2018 - Laserfiche WebLink

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10. Operations Before Closing. During the period from the Effective Date to the Closing Date, Seller will not enter into or consent to any agreement or obligation regarding the Property which is not terminable before Closing without Buyer's prior written consent. 11. Seller's Representations and Warranties. Seller represents and warrants to Buyer now and as of the Closing Date as follows: a. Title to Property. Seller owns the Property, and on the Closing Date,(which may be in connection with and as a result of the Closing) the Property will be free and clear of all liens and encumbrances, except the Permitted Encumbrances. b. Roads and Utilities. The Property has full and complete legal access from an adjoining public road. Electric, water, sanitary sewer, and natural gas utilities are available to the improvements on the Property. Seller has no knowledge of and has received no notice of actual or threatened reduction or curtailment of any roadway access or utility service now supplied, or to be supplied, to the Property. c. Assessments. Seller has no knowledge of and has not received any notice of actual or threatened special assessments or reassessments of the Property, or any hearing notice of a new public improvement project from any governmental assessing authority, the costs of which may be assessed against the Property. Seller will promptly provide Buyer with any notices it receives regarding any special assessments or other charges against the Property. d. Rights of Others to Purchase Property. Seller has not entered into any other contracts for the sale of the Property, nor are there any rights of first refusal, options to purchase, rights to build, leases or any other agreements regarding the Property, or any other rights of others that might prevent this Agreement's consummation or Buyer's purchase of the Property in any way. e. Construction Liens. No materials have been delivered nor any work or labor performed on the Property under contracts with Seller during the last 120 days which have not been fully paid for, and no person or entity presently has any lien, or right of lien, against the Property for labor or materials. Seller will indemnify Buyer for all amounts that Buyer may be compelled to pay in discharging or settling any mechanics lien filed for record against the Property and relating to such labor and/or materials. f. Wells, Septic Systems, Tanks. There is a well located on the Property. Prior to Closing, Seller shall cap the well, at Seller's cost, and in compliance with all applicable ordinances and codes. g• Compliance With Law. To Seller's best knowledge, the Property is in compliance with, and shall be in compliance with on the Closing Date, all applicable zoning ordinances and other applicable federal, state and local laws and regulations with respect to the Property. 8