Res 2013-096/Approving an Agreement of Sale with the Trust for Public Land for the city to purchase 93 acres of land for the expansion of Purgatory Creek

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limitation those relating to the environmental condition of the Property. Except as to matters of which TPL has actual knowledge, but has failed to disclose to City, City waives any and all objections to or claims or causes of action against TPL 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. 3. Closing. Final settlement of the obligations of the parties hereto shall occur on or before September 30, 2013, at such date, place and time as the parties shall agree (the "Closing "); provided, however, TPL may at its option elect to extend the Closing if the contingencies set forth in Section 27 have not been met by said date. 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. 4. Title. TPL shall by special warranty deed convey to City its interest in the Property, subject only to the following: (i) any federal, state or local laws, ordinances, regulations and /or orders whatsoever; (ii) 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; matters or record; (iv) the standard printed exceptions on the form of title insurance issued pursuant to Section 5; and (v) the Restriction and Notice of Restriction as described more fully in Section 30 of this Agreement. TPL has delivered to City a copy of a commitment for title insurance covering the Property, as well as Barker Tract B2 owned by Current Owner, issued by Escrow Holder committing the title company to issue a TLTA Owner's Policy insuring title to the Property in TPL (the "TPL's Title Commitment "). City shall at its sole cost and expense obtain a title commitment for title insurance from Escrow Holder committing the title company to issue a TLTA Owner's Policy insuring title to the Property in City. Agrmt of Sale City of San Marcos_ Barker Tract B -1 (4- 24- 13).doc