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AG 2018 09 17
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AG 2018 09 17
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Last modified
5/8/2019 7:18:45 PM
Creation date
5/2/2019 12:14:31 PM
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Meeting Minutes
Doc Type
Agenda
Meeting Minutes - Date
9/17/2018
Board
Board of Commissioners
Meeting Type
Regular
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8. DOCUMENTS FOR CLOSING. The Seller shall execute and deliver at closing the <br />Conservation Easements, any owner's affidavits or documents required by the Buyer's title <br />insurance company to remove the standard title policy exceptions, and any other documents <br />necessary to close in accordance with the terms of this Option. <br />9. ACCESS. The Buyer's obligations under this Option (if exercised) are contingent upon the <br />Property having recorded, appurtenant, insurable legal access to a public road sufficient to allow <br />the Buyer access to the Property to monitor the Conservation Easements, <br />10. CONDITION OF PROPERTY. During the period of time between execution of this Option <br />and exercise of this Option, Seller shall do nothing to or with regard to the Property that shall <br />damage or degrade the property, significantly alter its present appearance and value, or otherwise <br />violate the terms of the proposed Conservation Easements. In the event of any adverse change in <br />the condition of the Property, the Buyer may refuse to accept the Conservation Easements, in <br />which case the consideration paid for this Option shall be refunded. <br />11. ENCUMBRANCES. Seller shall not during the period of time this Option remains in effect <br />sell, contract to sell, encumber or lease the Property, or do any other act which might affect the <br />title or value of the property or the ability to enter the Conservation Easements. <br />12. RIGHT OF ENTRY AND INSPECTION. During the period of time this Option remains in <br />effect, Buyer shall have the right, at its expense, to enter upon the Property at reasonable times to <br />conduct an environmental inspection and assessment to detect hazardous or toxic substances, to <br />have the title to the Property examined, and for other reasonable purposes related to this <br />transaction. Buyer shall give notice in writing to Seller of any defects and objections to the title <br />and Seller shall clear the title of defects and objections so specified within forty-five (45) days <br />after notice thereof. In the event Seller cannot correct defects in or objections to the title so as to <br />be able to deliver good and merchantable title free and clear of all liens, encumbrances, restrictions, <br />and easements, Buyer may, at its election, cancel this Option, in which case the consideration paid <br />for this Option shall be refunded. Based upon the results of the environmental inspection and <br />assessment, the Buyer may elect to refuse to accept the conservation easement, in which case <br />consideration paid for this Option shall be refunded. <br />13. SELLER'S REPRESENTATIONS AND WARRANTIES. The Seller hereby warrants and <br />represents to Buyer the following matters and agrees to indemnify, defend and hold Buyer <br />harmless from any loss or liability relating to these matters, with the intent that these <br />representations, warranties and indemnities shall survive closing. <br />a. Title to the Property/Authority. Seller is the sole legal owner of the Property in fee simple. <br />The Property is not now subject to any written or oral lease, option, or agreement of sale. <br />To the best of Seller's knowledge and belief, the Property is not now subject to any claim <br />or legal proceeding except as set forth herein. Seller has the fidl power and authority to <br />execute this Option and all agreements and documents referred to in this Option and to <br />fully perform as required by this Option. <br />b. Condition of Property. Seller is not aware of any facts that would have adverse effect on <br />the efficacy of the Conscrvation Easements in protecting the conservation values set forth <br />F-7 Page 170 <br />
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