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<br />I <br /> <br />I <br /> <br />I <br /> <br />C. On the date of closmg, all Utrllty's property will be In as good a condition as <br /> <br /> <br />the same was on the effective date of this agreement, reasonable wear and tear alone <br /> <br /> <br />excepted <br /> <br />d On the date or c10smg there will be no Judgment In existence against Utility <br /> <br />and no law SUits threatened or pending against Utility <br /> <br />e Utility IS not a party to or bound by any franchise agreement, hcensing <br /> <br />agreement. or any other contractual limitation upon Its right to conduct bUSiness except <br /> <br />Utility's lawful obligation to prOVide continuous and adequate public utility services to Its <br /> <br />certificated service area under the rules and regulations 0 the TCEQ and the Untied <br /> <br />States Environmental Protection Agency ("EPA') <br /> <br />f The affidavit or Kay Primer and Mary King provldmg a listing of Utility's cash <br /> <br />balances and a detailed balance sheet listing all corporate assts and liabilities as of <br /> <br />January 1, 2007, on a tax cash baSIS with the following exceptions (1) billed accounts <br /> <br />receivable. (2) accrued unbllled revenues (3) miscellaneous other receivable depOSits <br /> <br /> <br />and prepaid accounts, (4) accrued Interest and (5) accounts payable, presents fairly, <br /> <br /> <br />with no material exceptions, the financial condition of the Utility as of the date of the <br /> <br /> <br />affidavit, Will be provided no later than 14 days prror to c10smg <br />5 ClOSing <br />a The parties hereto shalf use their best efforts to close the purchase <br /> <br /> <br />transaction proVided herem within sixty (60) days of the date of approval by TCEQ <br /> <br /> <br />b On or prior to the date of clOSing, Seller shall furnish to the City of San <br /> <br /> <br />Marcos <br /> <br />Page 5 or 12 <br />