Resolution 2008-39 - Laserfiche WebLink

Home Browse Search

S. Un or bzfore Au~ist 2d, '?C108: a. Seller shall Furnish to Purchaser, at Purchaser's expense, a current Af.,TA farm title insurance cammi.tment insuring; the Purchaser's ownership of a fee sin3ple interest in thc~ Property. The: cammitrnent shall be issued.by a title insurance company which maintains an office in Boulder County and which. is authorized w do business in the State of Cvlorado, tc~ insure: the Pu«;haser's ownership of the Property in an amount of ~44,St){).00. `I•he -title insurance cornmitrrient snail be on a farm aec;eptable to Purchaser and. shall :include copies of all documents identified in the schedule ofexceptions. .Seller and :Purchaser shall cause a title. insurance policy to be delivered Cn Purchaser as sovn as practicable after closing. Purchaser shall at closing; pay the premium for the title insurance- policy, and the casts of any tax ccrtificatL~s and de=sired endorsements.. b, Seller shall. iiimish to Purchaser, at Seller's expense, true copies of all leases, surveys, inspection results or other reports in Se11er's possession pertaining to the Pro~aerty, and shall disclose in writing m Purchaser all easements, liens, licenses, or atliezr matters not shown by the public records pertaining to the Property. G. Title to the .Property shall be merchantable in the Seilec, and the title cornmitmcnt and tide policy shall contain no exceptions ether tlyan: a. taxes and assessment far tine year of c;losing;, which shall. be adjusted and prorated to the date ofdelvery of the; deed, based an the most regent levy and assessment; and b. rights-ot=way, easements, re:sbactions, and mineral reservations of record, acceptable to Purc}iasr:r. Taxes for the year of closing shall be pmraled lei the date closing, based upon the mast recent levy and assessment, and such proration shall be a final settlement, Seller shall execute an affidavit concerning mex;hanic's lions and take all other steps necessary to attempt to obtain the deletion. of the standard pre- pritrted excerptions found in the title commitment. 7. 1'ure:haser shall have ~e right to inspect the title documents and the information provided by the Seller pursuaat to Paragraph 5,, and to conduct such other reviews as it deems .necessary to dete;rnune the state crf title to the Property. Should title not be merchantable as aforesaid, or shovild the title corxtmitment include additional exceptions which are not acceptable to Purchaser (even though such additional exceptions would not make the title unrne:re:hantabie), a ~i-ritten native of the defects shall be liven to the Seller by the Purchaser at least two (2) days 'prior to closing and Seller shall use reasonable efiaris to correct said defects prior to the date of'closing. Tf Seller fails to correct any ar all such defects prior to closing;, the Purchaser, at .its option, may complete the transaction nohuithstanding the uncorrected defects or may, upon ~vrittrn notice tv Seller, declare this Contract terrninatcxl, wheraupvn all things of value received he.'reuni[er shall tee immediately returned to Purchaser, and. bath parties shall by released herefrom. 8. The data and time of closing shall be 10:0 a.m„ Friday, August 2~3, 2C1g8, or such earlier date and limn as may be set by mutual written agreement cif the parties. 1`he place o~closina