4.13. SR 03-07-2016 - Laserfiche WebLink

Home Browse Search

9. DISCLOSURE OF NOTICES. Seller has not received any notice from any governmental authority as to violation of any law, ordinance or regulation. 10. TIMING. Seller recognizes that the Buyer is assembling parcels with the end goal of having sufficient acreage to develop a commercial lot(s) for development. The Seller agrees that this Agreement is contingent upon the Buyer acquiring title to the following parcels: 75-132-2425 (only as it applies to the north 33 feet of centerline of old Highway 10) 75-132-3101 75-575-0010 An aerial photo of the properties can be found in Exhibit A. 11. POSSESSION. Seller shall deliver possession of the property not later than the DATE OF CLOSING subject to the right of access to the newly constructed billboard for operation and maintenance. 12. EXAMINATION OF TITLE. The Seller does not have an Abstract on the lands. Therefore, within a reasonable time after acceptance of this Agreement, Seller shall furnish Buyer with an Owners and Encumbrances report including proper searches covering bankruptcies and State and Federal judgments, liens, and levied and pending special assessments. Buyer shall have 30 business days ' after receipt of the Owners and Encumbrances Report either to have Buyer's attorney examine the title and provide Seller with written objections or, at Buyer's own expense, to make an application for a Title Insurance Policy and notify Seller of the application. Buyer shall have thirty (30) business days after receipt of the Commitment for Title insurance to provide Seller with a copy of the Commitment and written objections. Buyer shall be deemed to have waived any title objections not made within the applicable thirty (30) day period provided for above, except that this shall not operate as a waiver of Seller's covenant to deliver a Limited Warranty Deed. Further, the Seller agrees that it shall cooperate in an application for certificate of possessory title if requested by the Buyer. 13. TITLE CORRECTIONS AND REMEDIES. Seller shall have 180 days from receipt of Buyer's written title objections to correct or resolve the objections. Upon receipt of Buyer's title objections, Seller shall, within ten (10) business days, notify Buyer of Seller's intention to resolve the objections within the 120 -day period. Cure of the defects by Seller shall be reasonable, diligent and prompt. Pending correction of title, all payments required herein and the closing shall be postponed if the Buyer requests the same in writing.