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<br /> deed in fee simple, free of lien or encumbrance, save and except <br /> LCRA shall only convey such title as it has and same shall be <br /> conveyed subject to any and all existing easements affecting the <br /> Property or rights conveyed or assigned. Said easements are not <br /> inconsistent with the use now being made of said properties or <br /> rights. <br /> 4.02 The personal property to be transferred hereunder shall <br /> be transferred free of liens and encumbrances, with a covenant on <br /> the part of LCRA that it is the lawful owner thereof and has a <br /> lawful right to transfer and deliver such Property. <br /> 4.03 All easements, rights of way, contracts and agreements <br /> within or pertaining to the Properties to be conveyed to CITY <br /> shall be transferred subject to the terms and conditions upon <br /> which they were acquired and are now held by LCRA. <br /> 4.04 LCRA shall furnish to CITY at LCRA's expense an Owner's <br /> Policy of Title with the following exceptions only: <br /> A. Restrictive covenants affecting the land <br /> described; <br /> B. All taxes for the current and subsequent years; <br /> C. Shortages in area; and <br /> D. Any and all restrictions, reservations, exceptions, <br /> rights of way, covenants, conditions and easements <br /> of record, if any. <br /> or in the alternative, at LCRA's option, LCRA shall deliver any <br /> abstracts or other evidence of title and a title opinion <br /> 8. <br /> - <br />