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Res 1997-174
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Res 1997-174
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6/12/2007 2:49:53 PM
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6/12/2007 2:49:53 PM
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City Clerk
City Clerk - Document
Resolutions
City Clerk - Type
Contract
Number
1997-174
Date
10/27/1997
Volume Book
130
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<br /> -2- <br /> Texas. <br /> 4. DISCLAIMER OF WARRANTIES. <br /> <br /> IT IS UNDERSTOOD AND AGREED THAT THE PROPERTY IS BEING SOLD <br /> AND CONVEYED BY THE SELLER, AND PURCHASED AND ACCEPTED BY THE <br /> BUYER, WITHOUT REPRESENTATIONS OR WARRANTIES AS TO THE <br /> CONDITION, MERCHANTABILITY, DEVELOPABILlTY, FITNESS OR USABILITY <br /> OF THE PROPERTY FOR A PARTICULAR PURPOSE; AND WILL BE <br /> CONVEYED AND ACCEPTED "AS IS, WHERE IS, WITH ALL FAULTS, IN ITS <br /> EXISTING FORM, STATE AND CONDITION," WITHOUT RECOURSE AGAINST <br /> THE SELLER, EXCEPT FOR THE WARRANTY OF TITLE CONTAINED IN THE <br /> WARRANTY DEED. THE SELLER IS NOT MAKING AND SPECIFICALLY <br /> DISCLAIMS ANY WARRANTIES OR REPRESENTATIONS, EXPRESS OR <br /> IMPLIED, WITH RESPECT TO THE PROPERTY, INCLUDING, BUT NOT LIMITED <br /> TO, WARRANTIES OR REPRESENTATIONS AS TO MATTERS OF ZONING, TAX <br /> CONSEQUENCES, PHYSICAL OR ENVIRONMENTAL CONDITIONS, <br /> AVAILABILITY OF ACCESS, INGRESS OR EGRESS, OR ANY OTHER MATTER <br /> RELATING TO OR AFFECTING THE PROPERTY. IT IS UNDERSTOOD THAT <br /> THE BUYER WILL CONDUCT ITS OWN INDEPENDENT DETERMINATION OF <br /> THE CONDITION, MERCHANTABILITY, DEVELOPABllITY, FEASIBILITY, <br /> FITNESS, ACCEPTABILITY AND USABILITY OF THE PROPERTY FOR THE <br /> BUYER'S PURPOSES, AND WILL BE RELYING SOLELY ON THAT <br /> DETERMINATION IN ACQUIRING THE PROPERTY. THE TERMS AND <br /> CONDITIONS OF THIS PARAGRAPH WILL SURVIVE THE CLOSING. <br /> 5. SURVEY AND TITLE COMMITMENT. <br /> <br /> A. Survey. <br /> <br /> (a) The Buyer will deliver to the Seller and the Title Company a copy of a <br /> current on-the-ground survey (the "Survey") of the Property made by a <br /> licensed surveyor in a form acceptable to the Buyer and the Title Company <br /> before the expiration of the Review Period, at the Buyer's expense. If the <br /> survey exception to the title policy (except as to shortages in area) is to be <br /> deleted, the additional expense for the deletion will be paid by the Buyer. <br /> The Survey will be a Category 1-A Land Title Survey, as specified by the <br /> latest edition of the Manual of Practice for Land Surveying published by the <br /> Texas Surveyors Association, will be addressed to the Seller, the Buyer and <br /> the Title Company, and will include: <br /> (1) the actual boundaries and dimensions of the Property; <br /> (2) a metes and bounds description of the Property (unless the Property <br /> can be described by reference to a recorded plat); <br />
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