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Res 2014-113/Approving a contract with Aurelius, Ltd., a Texas Limited Partnership, for the City to purchase approximately 6.97 acres of land, being part of Farm Lots 25 and 26 out of the Original Town of San Marcos and located along Cm Allen Parkway at
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Res 2014-113/Approving a contract with Aurelius, Ltd., a Texas Limited Partnership, for the City to purchase approximately 6.97 acres of land, being part of Farm Lots 25 and 26 out of the Original Town of San Marcos and located along Cm Allen Parkway at
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1/22/2015 3:49:49 PM
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8/26/2014 9:58:01 AM
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City Clerk - Document
Resolutions
City Clerk - Type
Approving
Number
2014-113
Date
8/19/2014
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A. Deadlines and Other Dates <br />All deadlines in this contract expire at 5:00 P.M. local time where the Property is located. <br />If a deadline falls on a Saturday, Sunday, or national holiday, the deadline will be extended to the <br />next day that is not a Saturday, Sunday, or national holiday. A national holiday is a holiday <br />designated by the federal government. Time is of the essence. <br />parties. <br />1. Earnest Money Deadline: Seven days after execution of this contract by both <br />2. Delivery of Title Commitment: 30 days after the Effective Date <br />3. Delivery of Survey: 60 days after the Effective Date <br />4. Delivery of UCC Search: 30 days after the Effective Date <br />5. Delivery of legible copies of instruments referenced in the Title Commitment, <br />and UCC Search: 30 days after the Effective Date <br />6. Delivery of Title Objections: 30 days after delivery of the Title Commitment, <br />Survey, and UCC Search and legible copies of the instruments referenced in them <br />7. Delivery of Seller's Records as specified in Exhibit C: 15 days after the <br />Effective Date <br />8. End of Inspection Period: 90 days after the Effective Date <br />9. Closing Date: Within 30 days after the end of the Inspection Period. <br />B. Closing Documents <br />1. At closing, Seller will deliver the following items: <br />Special Warranty Deed subject to Permitted Exceptions <br />(hereinafter defined) <br />IRS Nonforeign Person Affidavit <br />Evidence of Seller's authority to close this transaction <br />Customary closing items as may be requested by the Title Company <br />IRS Form 8283 <br />2. At closing, Buyer will deliver the following items: <br />2 <br />
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