02-01-2024 Parks & Rec Packet - Laserfiche WebLink

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6 the interest accrued and unpaid on the Earnest Money, if any; or ii. Waive the objections and proceed to Closing. (d) Permitted Encumbrances. In addition, to permitting encumbrances set forth in Paragraph C of this Section, the following shall also be Permitted Encumbrances: i. Real estate tax the year of Closing (to be prorated) and subsequent years; ii. Utilities easements and rights of way of record that do not materially effect Buyer’s intended use of the Property; and iii. Use restrictions of record, applicable zoning ordinances and governmental regulations. 11. Representations and Warranties Sellers. Sellers represents and warrants to the Buyer as follows: (a) Organization, Authority, Execution, Conflict. Sellers represents and warrants to the Buyer, that Seller has the requisite of power and authority to enter into this Agreement and the Seller's Closing Documents signed by it; such documents have been duly authorized by all necessary action on the part of Sellers and have been duly executed and delivered; of any court or arbiter to which Sellers is a party; such documents are valid and binding obligations of Sellers, and are enforceable in accordance with their terms. Sellers shall indemnify Buyer, its successors and assigns, against, and shall hold Buyer, its successors and assigns, harmless from, any expenses or damages, including reasonable attorneys' fees, that Buyer incurs because of the breach of any of the above representations and warranties, whether such breach is discovered before or after Closing. Consummation of this Agreement by Buyer with knowledge of any such breach by Buyer shall not constitute a waiver or release by Sellers of any claims due to such breach. (b) Assessments. Sellers have received no notice of actual or threatened special assessments or reassessments of the Property. Sellers shall pay all assessments levied as the Effective date at the Closing Date. Sellers warrant that they are not aware of any assessments that are pending in the future as of the Effective Date. (c) Proceedings. To the best knowledge of Sellers, there is no action, litigation, investigation, condemnation or proceeding of any kind pending or threatened against Sellers or any portion of the Property, except those claims previously disclosed. Sellers shall provide Buyer with Certificate of Estoppel from each tenant in a form approved by the Buyer at the Buyer’s sole discretion. (d) Water Wells. There are no wells on or serving the Property except those described in the Well Disclosure Statement attached hereto.