Res 1995-009 - Laserfiche WebLink

Home Browse Search

. . Iv,4- -2- (a) a Texas Owner's Title Policy issued through Hays County Abstract Company, in Purchaser's favor, in the amount of the purchase price, dated as of closing, insuring Purchaser's title to the real property subject only to those title exceptions previously accepted by Purchaser and specifically listed in the policy; and (b) a written opinion of a licensed Texas attorney, based upon a diligent examination of public records, verifying that good and marketable title to the water rights is vested in the Seller. 3.04 Seller will pay the cost of the title insurance policy, the water rights title opinion and the general warranty deed. Seller will also pay any fee due to any real estate broker with whom Seller has contracted. Seller and Purchaser will each pay one-half of the cost of an updated appraisal of the property to be performed by A. C. Schwethelm & Associates of Comfort, Texas. 3.05. Seller will pay all general real estate taxes and all special taxes or . assessments and all insurance relating to the property up to and .including the date of closing. Each party will pay its own attorney's fees. 4. Breach of Contract 4.01. In the event either party fails to perform its obligations under this contract or fails to consummate the sale of the property for any reason, except the contingencies described in this contract or the other party's default, the other party may: (a) enforce specific performance of this agreement; or (b) bring suit for damages against the other party. The rights and remedies granted both parties in this contract in the event of breach are cumulative and the exercise of a right shall be without prejudice to the enforcement of any other right. 5. Special Provisions 5.01 The sale is contingent upon the Purchaser's approval and execution of a grant agreement with the Texas Parks and Wildlife Department for the San Marcos Park