Resolution 2013-44 - Laserfiche WebLink

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ARTICLE 2. DOCUMENTS TO BE DELIVERED TO PURCHASER 2.1 Documents to be Delivered to or Obtained by Purchaser. On or before ten (10) calendar days following the Effective Date, Seller will provide Purchaser with any existing survey(s) of the Property and will make available for inspection and copying at Seller's offices documents referred to in Section 1.1 (b) above, if any, which are in the possession of Seller. Purchaser shall either accept the Seller's existing survey, update the existing survey or obtain a new ALTA survey at its sole cost which shall be certified to Purchaser, Seller and the Title Company ( "Survey "). Within fifteen (15) calendar days after the Effective Date, Seller shall deliver to Purchaser, at Seller's expense, a title insurance commitment issued by the Title Company showing the status of record title to the Property (a "Commitment ") and committing to insure, subject to the exceptions and requirements set forth therein, title to the Property in Purchaser in the amount mutually determined by the parties and Title Company (but not to exceed Seller's price for its purchase) under an Owner's Policy of Title Insurance, ALTA Form 1992 with standard printed exceptions deleted (subject to any matters disclosed by the Survey) ( "Owners Policy "). Seller shall cause the Title Company to deliver to Purchaser legible copies of all recorded documents referred to in the Commitment, together with copies of any covenants to which the Property will be subjected at or before Closing. Extended title coverage or endorsements will be issued only at the request of Purchaser and will be at Purchaser's sole expense. The Commitment, together with the Schedule B -2 documents referenced therein are referred to collectively herein as "Title Documents." The Title Documents, Survey, and any other document, report or information relative to the Property that is delivered to or obtained by Purchaser are sometimes collectively referred to herein as "Property Information." ARTICLE 3. REPRESENTATIONS AND WARRANTIES 3.1 Seller's Representations. Seller represents and warrants to Purchaser as of the Effective Date of this Agreement as follows: 3.1.1 Seller is a municipal corporation duly organized and legally existing under the laws of the State of Colorado. The person executing this Agreement on behalf of Seller has the authority so to act. 3.1.2 To Seller's actual, present knowledge, the performance by Seller under this Agreement is consistent with and not in violation of, and will not create any default under, any contract, agreement or other instrument to which Seller is a party, any judicial order or judgment of any nature by which Seller or the Property is bound. 3.1.3 To Seller's actual, present knowledge, there is no litigation pending or, to Seller's actual, present knowledge, threatened, which would affect the Property or Seller's ownership thereof. 3.1.4 Seller is not a "foreign person" within the meaning of Sections 1445(0(3) and 7701(a)(30) of the Internal Revenue Code and Seller will furnish to Purchaser at Closing an affidavit confirming the same. Page 3 of 24