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02-23-2000 Council Agenda
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02-23-2000 Council Agenda
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c. That all leases, service, supply, management or commission agreements and any <br />agreements with tenants or third parties regarding the Property, including a <br />written summary of any such oral agreements, has been or will be provided to <br />Purchaser within five (5) days after full execution of this Purchase Agreement. If <br />any such agreements exist, Seller warrants that it will take all steps necessary to <br />terminate any such agreement on or before the date of closing. <br />d. That all permit and licensing fees due and payable prior to the date of closing <br />shall have been paid to said date. <br />e. To the best of Seller's knowledge no suit, action, arbitration or other proceeding <br />or investigation is pending or, to Seller's knowledge, threatened against or <br />affecting the Property. <br />f. That all improvements upon the Property are located entirely within the boundary <br />lines of the Property. <br />g. <br />That all personal property of the Seller not included under the terms of this <br />Purchase Agreement may be removed from the Property by Seller prior to <br />closing. <br />h. All debris, if any, shall be removed from the Property at Seller's expense prior to <br />closing. <br />Seller's covenants shall survive the closing of the transaction and execution and delivery <br />of instruments by the parties. Seller hereby covenants and agrees to indemnify Purchaser with <br />respect to all loss or damage suffered by Purchaser caused or arising due to breach of the <br />warranties of Seller contained in this Purchase Agreement. <br />12. Survey. Subject to Paragraph 3, Purchaser shall be allowed forthwith to obtain, at <br />Purchaser's expense, an accurate survey of the Property certified to Purchaser and Seller and any <br />lender and /or title company designated by Purchaser as of a current date prepared by a <br />Registered Land Surveyor acceptable to Purchaser showing access, the location of all easements, <br />buildings, improvements and encroachments, utilities and applicable setbacks, together with the <br />legal description. Purchaser shall have the right to make written objections to title based upon <br />said survey within ten (10) days after delivery thereof. Any objection to title based upon survey <br />shall be treated in the same manner as objections to title based upon the Abstract of Title or <br />Registered Property Abstract to be delivered pursuant to this Purchase Agreement. <br />13. Examination of Title. Within a reasonable time after the acceptance of this <br />Agreement, Seller shall furnish Purchaser with an Abstract of Title or a Registered Property <br />Abstract certified to date including proper searches covering bankruptcies and State and Federal <br />judgments, liens, and levied and pending special assessments. Purchaser shall have thirty (30) <br />days after receipt of the Abstract of Title or Registered Property Abstract either to have <br />Page 103 <br />
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