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<br />Page 3 of 24 <br />ARTICLE 2. <br />DOCUMENTS TO BE DELIVERED TO PURCHASER <br />2.1 Documents to be Delivered to or Obtained by Purchaser. On or before ten (10) <br />calendar days following the Effective Date, Seller will provide Purchaser with any existing <br />survey(s) of the Property and will make available for inspection and copying at Seller’s offices <br />documents referred to in Section 1.1 (b) above, if any, which are in the possession of Seller. <br />Purchaser shall either accept the Seller’s existing survey, update the existing survey or obtain a <br />new ALTA survey at its sole cost which shall be certified to Purchaser, Seller and the Title <br />Company ("Survey"). Within fifteen (15) calendar days after the Effective Date, Seller shall <br />deliver to Purchaser, at Seller's expense, a title insurance commitment issued by the Title <br />Company showing the status of record title to the Property (a "Commitment") and committing to <br />insure, subject to the exceptions and requirements set forth therein, title to the Property in <br />Purchaser in the amount mutually determined by the parties and Title Company (but not to <br />exceed Seller’s price for its purchase) under an Owner's Policy of Title Insurance, ALTA Form <br />1992 with standard printed exceptions deleted (subject to any matters disclosed by the Survey) <br />("Owners Policy"). Seller shall cause the Title Company to deliver to Purchaser legible copies of <br />all recorded documents referred to in the Commitment, together with copies of any covenants to <br />which the Property will be subjected at or before Closing. Extended title coverage or <br />endorsements will be issued only at the request of Purchaser and will be at Purchaser's sole <br />expense. The Commitment, together with the Schedule B-2 documents referenced therein are <br />referred to collectively herein as “Title Documents.” The Title Documents, Survey, and any <br />other document, report or information relative to the Property that is delivered to or obtained by <br />Purchaser are sometimes collectively referred to herein as “Property Information.” <br />ARTICLE 3. <br />REPRESENTATIONS AND WARRANTIES <br />3.1 Seller's Representations. Seller represents and warrants to Purchaser as of the <br />Effective Date of this Agreement as follows: <br />3.1.1 Seller is a municipal corporation duly organized and legally existing <br />under the laws of the State of Colorado. The person executing this Agreement on behalf <br />of Seller has the authority so to act. <br />3.1.2 To Seller’s actual, present knowledge, the performance by Seller under <br />this Agreement is consistent with and not in violation of, and will not create any default <br />under, any contract, agreement or other instrument to which Seller is a party, any <br />judicial order or judgment of any nature by which Seller or the Property is bound. <br />3.1.3 To Seller’s actual, present knowledge, there is no litigation pending or, to <br />Seller's actual, present knowledge, threatened, which would affect the Property or <br />Seller's ownership thereof. <br />3.1.4 Seller is not a “foreign person” within the meaning of Sections 1445(f)(3) <br />and 7701(a)(30) of the Internal Revenue Code and Seller will furnish to Purchaser at <br />Closing an affidavit confirming the same.