Resolution 2025-55 - Laserfiche WebLink

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or the Seller shall certify which representations and warranties no longer remain true and correct. 8. Closing. The closing for Property (the "Closing") shall be held on September 30, 2025. The specific time of the Closing shall be set by mutual written agreement of the parties. The place of Closing shall be the offices of the title company or such other place as may be designated by mutual written agreement of the parties. The Seller and the City Manager may agree in writing to extend the Closing by no more than thirty (30) days if they determine such extension is necessary. 9. Closing Documents; Closing Costs. City and Seller shall sign and complete all customary or required documents at or before Closing. Settlement sheets for the Closing shall be furnished by Seller to the City at least three working days before the date set for Closing. Costs and fees for real estate closing and settlement services shall be paid at Closing fifty percent by City and fifty percent by Seller. 10. Encumbrances. Any encumbrance required to be paid by Seller shall be paid at or before the time of Closing from the proceeds of this transaction or from any other source. 11. Seller's Obligations at Closing.. At the time of Closing and upon the City's compliance with the terms and provisions of this Contract, Seller shall deliver: a. A good and sufficient general warranty deed in a form acceptable to the City, properly executed and acknowledged, conveying the Property free and clear of all liens, tenancies and encumbrances except those set forth in Paragraphs 4 and 5, above; b. All instruments, certificates, affidavits, and other documents necessary to satisfy the requirements listed on Schedule B-1 of the title commitment; c. If requested by the City, a good and sufficient assignment and bill of sale in a form acceptable to the City, conveying any rights in personal property as described in Paragraph 1, above; d. An update of the title commitment, at the City's expense, showing title to the Property to be subject only to the permitted exceptions determined by Paragraphs 4 and 5, above. Seller shall cause the title company to issue to the City its standard form owner's policy of title insurance insuring title to the Property in the City, with the standard pre-printed exceptions deleted, and subject only to the permitted exceptions as determined in Paragraphs 4 and 5, above. The City shall at Closing pay the premium for the title insurance policy, and the costs of any tax certificates and desired endorsements; 5