Laserfiche WebLink
Seller' s right, title and interest to any additional property <br /> adjacent to the Parcels for which Seller may have a claim by <br /> adverse possession. <br /> 4 . ;The purchase price for the Parcels shall include the <br /> Water Rights, which by definition includes all surface and <br /> subsurface water, if any, attached or appurtenant to or used <br /> in connection with the Property and owned by Seller, as well <br /> as the other interests of Seller described in Recital C, <br /> above. Seller shall retain the well permit rights described <br /> in Recital D, above. Purchasers agree to enter into a long- <br /> term leaseback of a proportionate share of the Water Rights <br /> available to the Property for use on the Lots . The parties <br /> shall execute a separate agreement specifying the terms of the <br /> lease-back of the Water Rights. The purchase price will also <br /> include any and all minerals appurtenant to the Parcels and <br /> owned] by Seller. <br /> 5. Within two weeks after the execution of'this Agreement by <br /> all Parties, Seller shall furnish to Purchasers title <br /> insurance commitments insuring the Purchasers ' ownership of a <br /> fee simple interest in Parcel 1 in the amount' of the purchase <br /> price, the City' s ownership of a fee simple interest in Parcel <br /> 2, and the Purchasers ' ownership of the Conservation Easements <br /> over Lots A and B, in the amount of the purchase price. The <br /> title commitment shall include copies of all exception <br /> documents identified in the commitment . The title insurance <br /> commitment shall be on a form acceptable to the Purchasers, <br /> and issued by a title insurance company, acceptable to the <br /> Purchasers, which maintains an office in Boulder County, and <br /> is authorized to do business in the State of Colorado. Seller <br /> shall be solely responsible for the cost of said title <br /> commitments and policies, which shall be paid at or prior to <br /> closing. <br /> 6. Title to the Property shall be merchantable in Seller, <br /> and the title commitment shall contain no exceptions other <br /> than: <br /> (a) taxes and assessments for the current year, which shall <br /> be adjusted and prorated to the date of delivery of the <br /> deed (this shall not apply to the Lots) ; and <br /> (b) rights-of-way, easements, restrictions, covenants, and <br /> mineral reservations which are acceptable to Pur_-chasers; <br /> and <br /> BOWES PURCHASE AGREEMENT, <br /> DIVISION OF LAND -6- <br />