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Res 2001-150
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Res 2001-150
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7/10/2006 2:10:31 PM
Creation date
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City Clerk
City Clerk - Document
Resolutions
City Clerk - Type
Earnest Money
Number
2001-150
Date
8/27/2001
Volume Book
144
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<br />2. a metes and bounds description of the Property; <br /> <br />3. the location of any easements, set-back lines, encroachments, overlaps, <br />roadways or waterways on or across the Property; <br /> <br />4. the outside boundary lines of all improvements and fences on the Property; <br /> <br />5. a certification by the surveyor to the Buyer and the Title Company that the <br />Survey was made on the ground, that the Survey is correct, that the Property <br />adjoins a publicly-dedicated roadway, and that there are no discrepancies, <br />conflicts, shortages in area, boundary line conflicts, encroachments, or visible <br />or apparent easements, roadways or rights of way, except as shown on the <br />Survey; <br /> <br />6. the surveyor's registered number and seal; and <br /> <br />7. identification of any area within the Property that has been designated by the <br />Federal Insurance Administrator or any other governmental agency or body <br />as being subject to special flooding hazards. <br /> <br />Upon delivery of the Survey, the metes and bounds description of the Property in the <br />Survey will automatically be incorporated into this Contract as a revised Exhibit A. <br /> <br />B. Title Commitment. Within 30 days after the effective date of this Contract, the Seller <br />will cause the Title Company to deliver the following to the Buyer at the Seller's <br />expense: <br /> <br />a. A title commitment (the "Title Commitment") covering the Property binding <br />the Title Company to issue a Texas Owner's Policy of Title Insurance on the <br />standard form prescribed by the Texas State Board ofInsurance at the closing <br />in the full amount of the Sales Price, subject only to the exceptions approved <br />by the Buyer in accordance with section 6; and <br /> <br />b. True, correct, and legible copies of all instruments referred to in the Title <br />Commitment as exceptions or restrictions upon the title of the Seller. <br /> <br />In the event that the Buyer does not receive the Commitment, copies of exceptions <br />to the Commitment or the Survey within the time specified herein, the Buyer shall <br />receive an extension of the Review Period and the Closing Date of one day for each <br />day any of those documents is past due. <br /> <br />-3- <br />
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