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AG 2010 09 20
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AG 2010 09 20
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Last modified
11/15/2011 8:25:30 AM
Creation date
11/27/2017 11:23:20 AM
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Meeting Minutes
Doc Type
Agenda
Meeting Minutes - Date
9/20/2010
Board
Board of Commissioners
Meeting Type
Regular
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Notwithstanding the above, COUNTY acknowledges that Seller currently has an existing deed of trust <br />encumbering the Property. Seller's obligations herein are expressly conditioned oil Seller obtaining a <br />release from the deed of trust from the current mortgage holder for the Property, including the consent of <br />the current mortgage holder to pay all related expenses of closing and real estate taxes from the closing <br />proceeds. If Seller cannot obtain said consent from the current mortgage holder within fifteen days of the <br />execution of this Agreement, Seller shall promptly notify COUNTY and this Agreement shall terminate <br />and COUNTY shall receive the return of the Option Fee. <br />13. Survey COUNTY shall cause a licensed surveyor or engineer to prepare an accurate <br />survey of the Property. The survey shall show the acreage of the Property, to the nearest 1/1000th of an <br />acre, excluding any portions of the Property located within a public road right -of -way (the "Net <br />Acreage "). COUNTY shall have the right to make written objections to title based upon the survey as <br />provided in Paragraph 12. Once the survey has been prepared, a legal description of the Property <br />prepared from the survey shall be used in the Deed. <br />14. Inspections During the Term, COUNTY and its agents, contractors and employees shall <br />have tine right to go on the Property to prepare the survey and to conduct such additional investigations or <br />tests as may be required by COUNTY. <br />15. Condition of Property. During the Term and, provided that the Option is exercised, <br />through the Closing Date, Seller shall keep and maintain the Property in its condition as of the Effective <br />Date, without further development of structures and without further alteration of the Conservation Values <br />of the Property. If COUNTY advises Seller in writing of any default tinder this Paragraph 15, then Seller <br />shall have a period of ten (10) days after delivery of such notice within which to remedy the default to the <br />satisfaction of COUNTY. If the default is not cured or remedied within the ten (10) day period, <br />COUNTY may at its election either: (a) accept the Property subject to the changed condition, or (b) <br />terminate this Agreement, and receive the return of the Option Fee. Seller shall bear all risk of damage or <br />loss to the Property prior to Closing. <br />16. Conditions COUNTY's obligations under this Agreement shall be subject to the <br />satisfaction of the following conditions (any of which may be waived by COUNTY by giving written <br />notice of waiver to Seller): <br />(a) During the Term, COUNTY shall have obtained a survey and performed such <br />environmental site assessments and other due diligence inspections or studies as it deems <br />necessary, and shall have determined that the Property is acceptable to COUNTY for its intended <br />conservation purposes. <br />(b) As of Closing, no exceptions to title shall exist other than the Permitted <br />Encumbrances. <br />(c) As of Closing, Seller shall have complied in all material respects with its <br />obligations tinder this Agreement, and all representations and warranties of Seller set forth in this <br />Agreement shall continue to be accurate in all material respects. <br />(d) The Clean Water Management Trust Fund approves the survey, title, appraisal <br />and grant of easement for construction and use of the bridge pursuant to Section 22.4 below. <br />If any of the foregoing conditions has not been satisfied or waived by the end of the Term, or by Closing <br />(as applicable to that condition), COUNTY shall have the right, exercisable by delivery of written notice <br />, OTM number 1 <br />F -13 <br />
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