Agenda - Council - 09/26/2023 - Laserfiche WebLink

Home

(a) To accept title to the Property subject to such Defects, or (b) To withdraw from this transaction and terminate this Agreement, without prejudice, however, to any rights or remedies which Buyer may have at law or in equity. In the event Seller commits to cure or remove a Defect prior to Closing and fails to do so, such failure shall be a Seller event of default. ARTICLE V11 DEED AND OTHER DOCUMENTS 6.01 Limited Warranty Deed. Seller shall, at the Closing, convey fee simple title to the Property to Buyer by a duly and validly executed, recordable limited warranty deed (the "Deed"), free and clear of all liens and encumbrances, except those permitted pursuant to the provisions of Section 5.01 hereof. 6.02 Right of Fie -entry Agreement. Buyer shall execute and deliver to Seller on the Closing Date a right of re-entry agreement in the form attached hereto as Exhibit D. 6M Other Documents. Buyer and Seller agree that such other documents as may be legally necessary or appropriate to carry out the terms of this 'Agreement shall be executed and delivered by the appropriate party at Closing. Such documents shall include, but .not be limited to the ECR, Escrow Agreement (defined below), the Lot Split Documents, a closing statement, the most recent real estate tax bill(s), a certificate as to Seller's status under the Foreign Investment in Real Property Tax Act, Seller's affidavit regarding liens (mechanics' or other), unrecorded matters and par -ties in possession and, if requested, Seller's of regarding the warranties and representations set forth in Article Xi hereof. ARTICLE I'll POSSESSION AND INSPECTION 7,01 Possession at Cl . Subject to Seller's obligation to perform and complete Seller's Site Obligations (defined below), Buyer shall be entitled to full and exclusive possession of the Property as of the Closing Date. 7.02 Inspection. For and during the continuance of this Agreement, Seller shall afford, all representatives of Buyer free and full access to the Property, for inspection and examination, at reasonable times. This privilege shall include the right to make surveys, site plans, renderings, soil tests, environmental inspections, borings, percolation tests and other tests to obtain any relevant information necessary to determine subsurface, topographic and drainage conditions and the suitability of the Property for use and development by Buyer. Buyer shall indemnify and hold harmless Seller for any loss, cost or liability incurred by Seller due to Buyer's entry onto the Property pursuant to this Section 7.02. ARTICLE Vill CLOSING B. S: