8.6. HANDOUTS 04-04-2016 - Laserfiche WebLink

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objections to the rnarketabr'lityr oftide related in any way to encumbrances caused or pertniged by the City during its operation and occupancy of the (Property. The City firer acknowledges tat any exceptions to title set forth on the Schedule H -Section H to the Commits hent of Tide Insurance dated March 21, 2466 are not the responsibility of Plaintiffs, provided the PlabrM shah, at closet& satisfy any mortgage encumbering the Pwpmty granted by the Plaintiff& 7be City acknowledges that all objections sat forth in the ,April 3, 2013 letter from Bradley L Hintze: relating to the closing on the Propertyare the not responsibility ofPlaintiffs, provided that the City may seek any and all endorsements relating to the tide, but obtaining such endorsements are not a condition to closing. Tire City is not waiving its right to object to any new encamahrasice oftitle not identffied in the Commitment of Title Ise dated April 15, 2013. 2. Delivery of W=anty Deed shall occur at closing which shall occur on May 15, 2016, or at such Tither date as agreed to by the parties in voiting. 3. At closing the City shall pay to Plainfiffi the sura of $1,550,000.00 in full i sari ac ion of an its obligations Tinder the Purchase Agreement and Contract for 17e4 and as further consideration, for the parties` promises and undertakim herein C Paysmenf}. The Payment shall not be offset by any prior camas paid to the Phdntiffi by the City - 4. The Subject Property will be conveyed AS IS, WBM IS AND WffH ALL FAULTS. The City acknowledges that it has occupied and operated the Subject Property s et 2006. 5. Upon compliance by both parties with the terms and conditions of this Stipulation, the parties mutually release flit other and their respective agents, employees, insurers and sureties, and each of there, from any and all claims, dernands, actions, causes of action, obligations, liabilities, expenses, costs, attttomeys' fees, procesdfiW and judgra ts, of whatsoever kind or nature, which either party novo has against the other, their agents, empIoyees, insurers and saeties, 2 18"4s4