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Res 1999-234
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Res 1999-234
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9/7/2006 1:38:16 PM
Creation date
9/7/2006 1:37:48 PM
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City Clerk
City Clerk - Document
Resolutions
City Clerk - Type
Approving
Number
1999-234
Date
11/22/1999
Volume Book
138
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<br />-2- <br /> <br />6. APPROVAL PERIOD. <br /> <br />A. Within 10 days after receiving the Title Commitment and the documents referred to <br />in the Title Commitment, the Buyer will review them and deliver to the Seller in <br />writing any objections the Buyer has to anything contained in them. In addition, in <br />the event the Buyer receives any revised Title Commitments before closing, the <br />Buyer will have lO days after receipt of each revised Title Commitment and the <br />documents referred to in it, to review them and to deliver in writing to the Seller any <br />objections the Buyer has to any items shown in them. Any mattl(Is to which the <br />Buyer does not object will be deemed to be accepted by the Buye:rlt"The Seller will <br />have 30 days to cure any objections by the Buyer. If the Seller delivers written notice <br />to the Buyer that the Seller is unable or unwilling to cure the objections, the Buyer <br />may either waive the objections and accept the title subject to the objections, but with <br />a reduction in the Sales Price to reflect the diminished value of the Property with the <br />uncured objections, or terminate this Contract by written notice to the Seller, in <br />which event the Earnest Money will be refunded to the Buyer. A lien for current ad <br />valorem taxes not yet due and payable will not be a valid objection to title. <br /> <br />B. The Seller represents and warrants to the Buyer that at the closing the Seller will have <br />and will convey to the Buyer good and indefeasible title by general warranty deed <br />subject only to any title exceptions approved or accepted by the Buyer in accordance <br />with this paragraph. Delivery of the title policy under paragraph 7 below will be <br />deemed to fulfill all duties of the Seller as to the sufficiency of title; provided <br />however, the Seller will not be released from the warranties ofthe Seller's deed. <br /> <br />'"3 Go "'. Y I -z.. '" "'Co ~ t{,. <br />7. CLOSING. The closing of the sale shall be on or before D8~@meer J l, 1999 (the "Closing <br />Date") at the office of the Title Company, at a time to be agreed upon by the Buyer and the <br />Seller. <br /> <br />A. <br /> <br />At the closing, the Seller will deliver to the Buyer: <br /> <br />(1) A general warranty deed conveying the Property, iB the rorm Q8scribed in th8 <br />-at.bchegExhi:t;,it ~, subject only to exceptions approved or accepted by the <br />Buyer under paragraph 6; <br /> <br />fit <br /> <br />(2) <br /> <br />An Owner's Policy of Title Insurance (the "Title Policy") issued by the Title <br />Company in the full amount of the Sales Price, dated as of the Closing Date, <br />insuring Buyer's fee simple title to the Property subject to the permitted title <br />exceptions and the standard printed exceptions contained in the usual form <br />of the Title Policy in this state; <br /> <br />\ Ml/k: <br />r ~ t:L ~ 1,/Jd-f1./l- -<..a.. 'I e ,fN:'.-IJ# r " <br /> <br />*' B Lc. Y-L,.. ~ e (. e. "f~ ~~ 'lP4..j.......i' <br />f4a +-- "f'( ...,,1 ./1M... ~ <br />
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