08-12-1998 Council Agenda - Laserfiche WebLink

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f. That no suit, action, arbitration or other proceeding or investigation is pending or threatened against or affecting Seller or the Property. g. That all figures, documents and other information relating to the Property supplied to Purchaser by Seller or its agents are true, accurate and complete and that all information shall be updated and correct as of the closing date. h. That all improvements upon the Property are located entirely within the boundary lines of the Property and any applicable setbacks. i. That all personal Property of the Seller not included under the terms of this Purchase Agreement including items stored outdoors and all debris shall be removed from the Property at Seller's expense prior to closing. Seller's covenants shall survive the closing of the transaction and execution and delivery of instruments by the parties. Seller hereby covenants and agrees to indemnify Purchaser with respect to all loss or damage suffered by Purchaser caused or arising due to breach of the warranties of Seller contained in this Purchase Agreement. 12. Survival of Closing. All representations, warranties, agreements and indemnities contained in this Agreement shall survive the closing. 13. Survey. Seller shall forthwith obtain, at Seller's expense, an accurate survey of the Property certified to Purchaser and any lender and /or title company designated by Purchaser as of a current date prepared by a Registered Land Surveyor acceptable to Purchaser and conforming to ALTA standards showing access, the location of all easements, buildings, improvements and encroachments, utilities and applicable setbacks, together with the legal description. Purchaser shall have the right to make written objections to title based upon said survey within twenty -five (25) days after receipt thereof. Any objection to title based upon survey shall be treated in the same manner as objections to title based upon the Abstract of Title or Registered Property Abstract to be delivered pursuant to this Purchase Agreement. 14. Examination of Title and Permitted Encumbrances. Seller shall, as soon hereafter as reasonably possible and in no event later than thirty (30) days after execution of this Agreement by Seller, furnish an Abstract of Title or Registered Property Abstract covering the Property, certified to date and including proper searches covering bankruptcies and state and federal judgments and liens. Purchaser shall be allowed thirty (30) days after receipt thereof for examination of said title and the making of any objections thereto. Objections to title, including objections based upon examination of survey or regarding security interest in personal Property, shall be made in writing within the time herein limited or shall be deemed to be waived and Purchaser shall be obligated to accept such title as Seller may be able to convey, without reduction of the purchase price, credit or allowance against the same without any other liability on the part of the Seller. This waiver shall survive the closing of the transaction and delivery of documents provided for by this Purchase Agreement. Page 5 of 11 Page 38