Res 2001-072 - Laserfiche WebLink

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Commercial Unimproved Contract Concerning 33.34 ac~s B. At closing, Seller will deliver, at Seller's expense, a II general 0 special warranty deed. The deed must include a vendor's lien if any part of the sales price is financed. The deed must convey good and indefeasible title to the Property and show no exceptions other than those permitted under Paragraph 6 or other provisions of this contract. Seller must convey the Property at closing: (1) with no liens, assessments, or other security interests against the Property which will not be satisfied out of the sales price unless securing loans Buyer assumes; (2) without any assumed loans in default; and (3) with no persons in possession of any part of the Property as lessees, tenants at sufferance, or trespassers except tenants under the written leases assigned to Buyer under this contract. C. At closing, Seller, at Seller's expense, Will also deliver: (1) tax statements showing no delinquent taxes on the Property; (2) an assignment of all leases to or on the Property; (3) to the extent assignable, an assignment to Buyer of any licenses and permits related to the Property; (4) evidence that the person executing this contract is legally capable and authorized to bind SeUer; and (5) any notices, statements, certificates, or other documents required by this contract or law necessary to convey the Property, all of which must be completed by Seller as necessary. D. At closing, Buyer will: (1) pay the sales price in good funds acceptable to the escrow agent; (2) deliver evidence that the person executing this contract is legally capable and authorized to bind Buyer; and (3) execute and deliver any notices, statements, certificates, or other documents required by this contract or law necessary to close the sale. E. Unless the parties agree otherwise, the closing documents will be as found in the basic forms in the current edition of the State Bar of Texas Real Estate Forms Manuat without any additional clauses. 10. POSSESSION: Seller will deliver posseSSion of the Property to Buyer on June 29 2001 in its present or required repaired condition, ordinary wear and tear excepted. Until closing, Seller will operate the Property in the same manner as on the effective date. Any possession by Buyer before closing or by Seller after closing that is not authorized by a separate written lease agreement is a landlor<:f..tenant at sufferance relationship between the parties. SPECIAL PROVISIONS: (Identify exhibit if special proviSions are contained in an attachment.) '.'fhe Buyer I s obligation to purchase the property under this contrac~ is eJq>ressly condi tioned on all of the following: A. The Seller's donation to the Buyer of two tra.c:ts of real property, one approximately 90 acres in size and the other approx1mately three acres in size, under a separate Donation Ag'reement between the SelleX' and the Buyer bGaring the same date as this contract. '.'fhe clo.ing for the conveyance of the tracts being donated shall oocur at the sa:me time as the olosing under this contract. If thi.s condition is not mot at the olosing, the Buyer :may te2:mi.nate thi.s contract and the earnest :money will be refunded to the BuyeX'. B. The Buyer I IS receipt of confirmation from. the U. S. Fish and Wildife Serv:i.ce that the property being acquired by the Buyer under this contract, and. the property being acquired by the Buyer from. the Seller under the Donation Agreement referred to above, are, except for areas needed for right-of-way- for the Wonder World Drive Extension Project (the "Project"), approved for use as "mi tigation" properties to minimize and avoid the environmental impacts oonnected with the Project. If the Buyer does not secure this approval on or before the closing date, the Buyer may terminate this contract and the .a..rnest money will be refunded to the Buyer. If this cond.:i.tion is not met on or before the Closing Date, the Buyer may tern:inate this contract and the earnest money will be refunded to the Buyer. c. Randall Morri.s is a licensed Real Estate Broker in the state of Texas and an owner in Terrand Ltd. (TAR-1802) 11-5-99 Initialed for Identification by Buyer _, k and Seller TAR, P.O. Box 2246, AUStin'1X7s768-2246 ProduQed wi1h ZipFonn'" by RE Form&Net, LLC 18025 Fifteen Mile Road. Clinton T ov.nship, Miclligan 48035. (BOO) 3ll3-9805 Page 5 of 9 T6200424.ZFX