09-27-2000 Council Agenda - Laserfiche WebLink

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7. Real Estate Tax Proration. Seller shall pay all delinquent real estate taxes including penalties and interest. Real estate taxes payable in 2000 shall be paid prorated as of the date of closing on a daily basis based upon the calendar year. Real estate taxes payable in 2001 shall be the obligation of the Buyer. SEI.i.FR SHALL PAY ON THE DATE OF CLOSING all installments of special assessments certified for payment with the real estate taxes due and payable in the year of closing. SELLER SHALL PAY ON THE DA1'h OF CLOSING all other outstanding special assessments levied as of the date of this Agreement. BUYER SHALL ASSUME special assessments pending as of the date of this Agreement for improvements that have been ordered by the City Council or other governmental assessing authorities. As of the date of this Agreement, Seller represents that Seller has not received a Notice of Hearing of a new public improvement project from any governmental assessing authority, the costs of which project may be assessed against the property. If a special assessment becomes pending after the date of this agreement and before the date of closing, Buyer will assume payment of the pending special assessment without adjustment to the purchase agreement price of the property. SELLER SHALL PAY ON THE DATE OF CLOSING any deferred real estate taxes or special assessments, payment of which is required as a result of the closing of this sale. 8. Seller's Boundary Line, Access, Restrictions, and Lien Warranties. Seller warrants that there is a right of access to the real property from a public right -of -way. Seller warrants that there has been no labor or material. furnished to the property for which payment has not been made. Seller warrants that there are no present violations of any restrictions relating to the use or improvement of the property. These warranties shall survive the delivery of the deed or contract for deed. 9. Condition of Property. a. Seller warrants that no hazardous substances or petroleum products have been placed, stored, or released from or on the property by any person in violation of any law, nor of any underground storage tanks having been located on the property at any time, except as follows: None b. Seller's warranties and representations contained herein shall survive the closing and the delivery of the Deed or Contract for Deed. c. Buyer shall have the right to have inspections of the property conducted prior to closing. Unless required by local ordinance or lending regulations. Seller does not plan to have the property inspected. 10. Disclosure of Notices. Seller has not received any notice from any governmental authority as to .3- Page 79