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4 <br />518333v9 DTA MU205-47 <br />7. Condition of Title. The Developer understands that the Property is being acquired by the <br />Authority through the County who had received it through tax forfeiture. Therefore, <br />there may be title issues that will need to be resolved. The Developer shall obtain the <br />title evidence determined necessary or desirable to the Developer. In the event that there <br />are any title issues, the Developer shall be solely responsible for resolving those issues at <br />its own expense. The Authority shall have no obligation to cure any defects in the title of <br />the Property. <br /> <br />8. Financing. Before conveyance of the Property by the Authority, the Developer agrees to <br />submit to the Authority evidence of a commitment for financing which is adequate, in the <br />Authority’s sole opinion, for the construction of the Minimum Improvements, as defined by <br />the CPD, and in accordance with section 7.1 of the CPD. If the Authority finds that the <br />financing is sufficiently committed and adequate in amount to provide for the construction <br />of said improvements, the Authority shall notify the Developer in writing of its approval. <br />Such approval shall not be unreasonably withheld. If the Authority rejects the evidence of <br />financing as inadequate, it shall do so in writing specifying the basis for the rejection and the <br />Developer shall have 30 days thereafter to submit a commitment for additional or alternate <br />financing acceptable to the Authority. If the Developer fails to submit a commitment for <br />financing acceptable to the Authority within said period of time or any additional period to <br />which the Authority may agree, the Authority may notify the Developer of its failure to <br />comply with the requirement of this paragraph and may terminate this Agreement at its sole <br />discretion. <br /> <br />9. Representations. <br /> <br />a. The Authority makes the following representations and disclosures regarding the <br />Property: None, other than those stated in section 2 of this Agreement. <br /> <br />b. Other than as represented herein by the Authority, the Developer acknowledges that <br />the Authority makes no representations or warranties as to the condition of the soils <br />on the Property or its fitness for its intended use and for construction of the <br />Minimum Improvements or any other purpose for which the Developer may make <br />use of such property. <br /> <br />c. The Developer acknowledges that it has inspected or has had the opportunity to <br />inspect the Property and agrees to accept the Property “AS IS” with no right of set <br />off or reduction in the purchase price. Such sale shall be without representation <br />of warranties, express or implied, either oral or written, made by the Authority or <br />any official, employee or agent of the Authority with respect to the physical <br />condition of the Property, including but not limited to, the existence or absence of <br />petroleum, hazardous substances, pollutants or contaminants in, on, or under, or <br />affecting the Property or with respect to the compliance of the Property or its <br />operation with any laws, ordinances, or regulations of any government or other <br />body, except as stated above. The Developer acknowledges and agrees that the <br />Authority has not made and does not make any representations, warranties, or <br />covenants of any kind or character whatsoever, whether expressed or implied,