|
554
<br />555
<br />556
<br />557
<br />558
<br />559
<br />560
<br />561
<br />562
<br />563
<br />564
<br />565
<br />566
<br />567
<br />568
<br />569
<br />570
<br />571
<br />572
<br />573
<br />574
<br />575
<br />576
<br />577
<br />578
<br />579
<br />580
<br />581
<br />582
<br />583
<br />584
<br />585
<br />586
<br />587
<br />588
<br />589
<br />590
<br />591
<br />592
<br />593
<br />594
<br />595
<br />596
<br />597
<br />598
<br />599
<br />600
<br />601
<br />602
<br />603
<br />604
<br />605
<br />606
<br />607
<br />608
<br />609
<br />610
<br />611
<br />612
<br />613
<br />614
<br />615
<br />616
<br />617
<br />618
<br />619
<br />620
<br />621
<br />622
<br />623
<br />624
<br />625
<br />626
<br />627
<br />628
<br />629
<br />630
<br />631
<br />632
<br />haps://www.ctmeconlracts.com/eContracts/m eCON/Contracts/Listin.
<br />INVESTIGATE THE SPECIAL TAXING DISTRICTS IN WHICH THE PROPERTY IS LOCATED BY
<br />CONTACTING THE COUNTY TREASURER, BY REVIEWING THE CERTIFICATE OF TAXES DUE FOR THE
<br />PROPERTY, AND BY OBTAINING FURTHER INFORMATION FROM THE BOARD OF COUNTY
<br />COMMISSIONERS, THE COUNTY CLERK AND RECORDER, OR THE COUNTY ASSESSOR.
<br />Buyer has the Right to Terminate under § 25.1, on or before Off -Record Title Objection Deadline, based on
<br />any unsatisfactory effect of the Property being located within a special taxing district, in Buyer's sole subjective
<br />discretion.
<br />8.6. Right of First Refusal or Contract Approval. If there is a right of first refusal on the Property or
<br />a right to approve this Contract, Seller must promptly submit this Contract according to the terms and conditions
<br />of such right. If the holder of the right of first refusal exercises such right or the holder of a right to approve
<br />disapproves this Contract, this Contract will terminate. If the right of first refusal is waived explicitly or expires, or
<br />the Contract is approved, this Contract will remain in full force and effect. Seller must promptly notify Buyer in
<br />writing of the foregoing. If expiration or waiver of the right of first refusal or approval of this Contract has not
<br />occurred on or before Right of First Refusal Deadline, this Contract will then terminate.
<br />8.7. Title Advisory. The Title Documents affect the title, ownership and use of the Property and should
<br />be reviewed carefully. Additionally, other matters not reflected in the Title Documents may affect the title,
<br />ownership and use of the Property, including, without limitation, boundary lines and encroachments, set -back
<br />requirements, area, zoning, building code violations, unrecorded easements and claims of easements, leases and
<br />other unrecorded agreements, water on or under the Property, and various laws and governmental regulations
<br />concerning land use, development and environmental matters.
<br />8.7.1. OIL, GAS, WATER AND MINERAL DISCLOSURE. THE SURFACE ESTATE OF THE
<br />PROPERTY MAY BE OWNED SEPARATELY FROM THE UNDERLYING MINERAL ESTATE, AND TRANSFER
<br />OF THE SURFACE ESTATE MAY NOT NECESSARILY INCLUDE TRANSFER OF THE MINERAL ESTATE OR
<br />WATER RIGHTS. THIRD PARTIES MAY OWN OR LEASE INTERESTS IN OIL, GAS, OTHER MINERALS,
<br />GEOTHERMAL ENERGY OR WATER ON OR UNDER THE SURFACE OF THE PROPERTY, WHICH
<br />INTERESTS MAY GIVE THEM RIGHTS TO ENTER AND USE THE SURFACE OF THE PROPERTY TO
<br />ACCESS THE MINERAL ESTATE, OIL, GAS OR WATER.
<br />8.7.2. SURFACE USE AGREEMENT. THE USE OF THE SURFACE ESTATE OF THE
<br />PROPERTY TO ACCESS THE OIL, GAS OR MINERALS MAY BE GOVERNED BY A SURFACE USE
<br />AGREEMENT, A MEMORANDUM OR OTHER NOTICE OF WHICH MAY BE RECORDED WITH THE
<br />COUNTY CLERK AND RECORDER.
<br />8.7.3. OIL AND GAS ACTIVITY. OIL AND GAS ACTIVITY THAT MAY OCCUR ON OR
<br />ADJACENT TO THE PROPERTY MAY INCLUDE, BUT IS NOT LIMITED TO, SURVEYING, DRILLING, WELL
<br />COMPLETION OPERATIONS, STORAGE, OIL AND GAS, OR PRODUCTION FACILITIES, PRODUCING
<br />WELLS, REWORKING OF CURRENT WELLS, AND GAS GATHERING AND PROCESSING FACILITIES.
<br />8.7.4. ADDITIONAL INFORMATION. BUYER IS ENCOURAGED TO SEEK ADDITIONAL
<br />INFORMATION REGARDING OIL AND GAS ACTIVITY ON OR ADJACENT TO THE PROPERTY, INCLUDING
<br />DRILLING PERMIT APPLICATIONS. THIS INFORMATION MAY BE AVAILABLE FROM THE COLORADO OIL
<br />AND GAS CONSERVATION COMMISSION.
<br />8.7.5. Title Insurance Exclusions. Matters set forth in this Section, and others, may be
<br />excepted, excluded from, or not covered by the owner's title insurance policy.
<br />8.8. Consult an Attorney. Buyer is advised to timely consult legal counsel with respect to all such
<br />matters as there are strict time limits provided in this Contract (e.g., Record Title Objection Deadline and
<br />Off -Record Title Objection Deadline).
<br />9. NEW ILC, NEW SURVEY.
<br />9.1. New ILC or New Survey. If the box is checked, a New Improvement Location Certificate
<br />(New ILC) ❑ New Survey in the form of nia is required and the following will apply:
<br />9.1.1. Ordering of New ILC or New Survey. ❑Seller ®Buyer will order the New ILC or New
<br />Survey. The New ILC or New Survey may also be a previous ILC or survey that is in the above -required form,
<br />certified and updated as of a date after the date of this Contract.
<br />9.1.2. Payment for New ILC or New Survey. The cost of the New ILC or New Survey will be paid,
<br />on or before Closing, by: ®Seller ❑Buyer or: nia
<br />9.1.3. Delivery of New ILC or New Survey. Buyer, Seller, the issuer of the Title Commitment (or
<br />the provider of the opinion of title if an Abstract of Title), and real estate broker involved will receive a New
<br />ILC or New Survey on or before New ILC or New Survey Deadline.
<br />9.1.4. Certification of New ILC or New Survey. The New ILC or New Survey will be certified by
<br />8of19 6/10/20162:16 PM
<br />
|