AG 2010 09 20 - Laserfiche WebLink

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