Res 2012-008 - Laserfiche WebLink

Home Browse Search

C. Buyer acknowledges that Buyer will have a full and fair opportunity to inspect the Property and any structures or improvements on the Property and to perform any tests or analyses desired by Buyer to satisfy Buyer as to the condition of the Property. Except as to conditions violating applicable state and federal laws of which Seller has actual knowledge, but fails to disclose to Buyer, Buyer agrees to accept the Property including any structures or improvements, "as is, where is," subject to all faults of every kind and nature whatsoever, whether latent or patent and whether now or hereafter existing and subject to any violations of any law or ordinance existing on the date of closing, including without limitation those relating to the environmental condition of the Property. Except as to matters of which Seller has actual knowledge, but has failed to disclose to Buyer, Buyer waives any and all objections to or claims or causes of action against Seller including, but not limited to federal, state or common law actions and any private right of action under state and federal law to which the Property is or may be subject (including, but not limited to CERCLA and RCRA) regarding the physical characteristics and existing structural, geologic, subsurface, soil, water and environmental conditions on, under, adjacent to or otherwise affecting the Property. 4. Closing. Final settlement of the obligations of the parties hereto shall occur on or before January 31, 2012, at such date, place and time as the parties shall agree (the "Closing "); provided, however, Seller may at its option elect to extend the Closing up to 30 days in order to coordinate a simultaneous closing with the Current Owner. This transaction shall be closed in escrow with Presidio Title, 7373 Broadway, Suite 105, San Antonio, Texas 78209 (the "Escrow Holder "). The transaction contemplated hereunder shall be closed by Escrow Holder in accordance with the general provisions of the usual form of deed and money escrow agreement then in use by Escrow Holder, with such additional special provisions inserted in said escrow agreement as may be required to conform with the terms and conditions of this Agreement. It is Seller's intent to close this sale simultaneously with its acquisition of the Property. Buyer will cooperate in coordinating a simultaneous closing. Title and Survey. a. Title. Seller shall by special warranty deed convey to Buyer its interest in the Property; provided, however, Seller at its option may convey the Property to Buyer by deed directly from the Current Landowner to Buyer, subject only to the following: (i) any federal, state or local laws, ordinances, regulations and /or orders whatsoever; liens for real estate taxes not yet due and payable and other taxes and assessments of any kind or nature assessed (not yet due and payable) with respect to the Property; Agrmt of Sale City of San Marcos—Barker Tract (1- 3- 12).doc