04/12/1999 Council Packet - Laserfiche WebLink

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the parcels received by them in the year following the closing and thereafter. 4. Title. The parties mutually agree that within a reasonable time after approval of this agreement, they will furnish a Commitment for Title Insurance, Abstract of Title or Registered Property Abstract, certified to date to include proper searches, etc. The other party shall be allowed ten (10) days after receipt thereof for examination of said title and the making of any objections thereto, said objections to be made in writing or deemed to be waived. If any objections are so made, the non - objecting party shall be allowed 120 days to make such title marketable. If said title is not marketable and is not made so within 120 days from the date of written objections thereto as above provided, this agreement shall be null and void, at the option of the objecting party. If the title to said property be found marketable or be so made within said time, and the objecting party shall default in any of the agreements and continue to default for a period of ten (10) days, then, and in that case, the non - objecting party may terminate this contract. This provision shall not deprive either party of the right of enforcing the specific performance of this contract provided such contract shall not .be terminated as aforesaid, and provided action to enforce such specific performance shall be commenced within six months after such right of action shall arise. 5. Additional Terms. The following additional terms and conditions shall apply to this transaction. a. The City agrees that it will construct a driveway from the newly constructed Apollo Boulevard to serve the residence of Douglas. Such driveway shall be in substantially the same form as that driveway which is currently being used by Douglas. Such driveway shall be installed at the City's expense. During the construction of Apollo Boulevard, the City will provide daily ingress and egress to the house owned by Douglas. b. The City agrees to install a sewer and water stub large enough to serve the entire portion of the property that would be owned by Douglas after the conveyance of the property to them by the City. Such stub shall be sized to serve the maximum allowable densities currently in existence under the City