6.9. SR 4-15-2002 - Laserfiche WebLink

Home Browse Search

Upon the discontinuation of any such moratorium, the Parties' obligations to close hereunder shall resume as of that date and continue as per the provisions of this Contract. (2) If, however, such moratorium shall last longer than ninety (90) days, each Party shall have the right, but not the obligation, to terminate this Contract pursuant to Section 14. 12. CLOSING. a. Closing Date and Place. The Closing ("Closing") of this Contract shall be held on March 13, 2002 ("Closing Date"), provided, however, that if, on such date a transferring Party has not satisfied the conditions required to induce the Title Company to issue the Title Policy or if there are objections made by an acquiring Party which have not yet been cured by the transferring Party, either Party, by written notice to the other, may postpone the date of the Closing to such date as shall be designated in such notice, but not more than thirty (30) days after the Closing Date above specified. Closing shall occur at the offices of the Title Company. Notwithstanding anything herein to the contrary, Horton's obligation to perform hereunder is expressly contingent upon Horton obtaining fee simple title to the Horton Exchange Parcels and Horton's Retained Land on or before the Closing Date. In the event Horton has not obtained fee simple title to the Horton Exchange Parcels and Horton's Retained Land as contemplated herein, then either party may terminate this Contract pursuant to Section 14. b. Deliveries by Elk River. At Closing, Elk River shall deliver to Horton: a limited warranty deed conveying the Elk River Exchange Parcels according to the legal descriptions prepared by the surveyor as shown on the Survey, subject only to the Permitted Exceptions; (2) the Title Policy, subject only to the Permitted Exceptions; (3) possession of the Elk River Exchange Parcels; (4) a standard form Seller's affidavit; a well disclosure certificate or a statement on the deed asserting that Elk River does not know of any wells on the Elk River Exchange Parcels; and (6) a Non-Foreign Affidavit in standard form. c. Deliveries by Horton. At Closing, Horton shall deliver to Elk River: (~) a limited warranty deed conveying the Horton Exchange Parcels according to the legal descriptions prepared by the surveyor as shown on the Survey, subject only to the Permitted Exceptions; 2174122vl 9