Property Conveyance. The Property is to be conveyed with title insurance by standard title policies (as applicable), subject to current taxes, rights-of-way, assessments, easements and other conditions of record, and any exceptions written in the Preliminary Title Report or Commitment and other standard title exclusions found in the PIP.
Property Conveyance. Upon successful achievement of the Closing Contingencies as provided in this Agreement, Seller agrees to sell to Buyer and Buyer agrees to purchase from Seller the School Site. The School Site shall be conveyed from Seller to the Buyer by quitclaim deed in substantially the form attached hereto and incorporated herein by this reference as Exhibit “C”. The parties understand that the number of acres, configuration and/or final legal description of the School Site may change by mutual agreement prior to Closing. The Xxxxxx Property surrounding the School Site is sometimes referred to herein as the “Surrounding Xxxxxx Property.”
Property Conveyance. The City shall convey marketable title to the property for and in consideration of Habitat’s completion of new construction on the property, payment of sums set out in Section II.A(1) and agreement to sell the property on or before May 31, 2024, to a qualified homebuyer, as set forth hereafter.
Property Conveyance. As consideration for GCIH1's performance of its obligations under this Agreement, the City shall convey the Property “as is” and “with all faults” to GCIH1 by a special warranty deed within thirty (30) days after receipt of the cashier’s check required from GCIH1 pursuant to Section 4.02.a. Such special warranty deed shall include the following disclaimers:
Property Conveyance. Subject to the terms and conditions of this Agreement, Seller agrees to convey the Property to City, and City agrees to acquire the Property from Seller. Furthermore, subject to the terms and conditions of this Agreement, City agrees to subsequently convey the Property to Purchaser at Closing, and Purchaser agrees to acquire the Property from the City. All conveyances shall be subject to a reverter of the Property to the Seller in the event the transaction is not fully consummated as contemplated herein for the Purchasers Anticipated Use (as defined below). As used in this Agreement, the term “Property” includes all of the following:
a. The real property depicted on Exhibit A together with all of Seller’s right, title and interest, if any, in and to the following: (i) any existing infrastructure improvements, buildings and structures; (ii) all reversions, remainders, air rights, reversionary rights, easements, rights-of-way, appurtenances, licenses, tenements, and hereditaments; (iii) all minerals and mineral rights, including oil and gas, hard rock minerals and sand and gravel deposits (“Mineral Rights”); and (iv) all water and water rights, xxxxx and well rights, ditches and ditch rights, reservoir and reservoir rights on, underlying or appurtenant to or associated with such real property, whether non-tributary, tributary, or not non-tributary, whether decreed or undecreed, and whether appropriated, conditional, appropriated, or unappropriated, together with all evidences of any such rights, including, without limitation, any well permits, and any stock in any applicable water or ditch companies (collectively “Water Rights”) appertaining to or otherwise benefiting or used in connection with such real property or the improvements;
b. All right, title, and interest of Seller in and to all existing warranties, contracts (including service contracts), governmental permits, licenses, certificates, approvals, entitlements and authorizations related to the Property (collectively, “Contracts and Permits”);
c. All right, title and interest of Seller in and to all reports, studies and materials that relate to the condition, development or developability of all or any portion of the Real Property which are in the possession or control of Seller, including, but not limited to, subdivision plats, governmental approvals, soils reports, marketing or other studies, surveys, development plans, cost estimates, layouts, grading plans, flood plain analyses, environmental as...
Property Conveyance. If at the end of the Lease Term, DEVELOPER has timely performed its obligations concerning the structural and roof repairs such that DEVELOPER is entitled to a refund of its cash bond provided in accordance with Section 5.02.a.1, CITY shall convey the Property “as is” and “with all faults” to DEVELOPER by a deed without warranty. The deed without warranty shall contain a right of reversion for a four (4) year period should: DEVELOPER fail to obtain Certificate(s) of Occupancy for the Project within two (2) years of the issuance of the first building permit for the project DEVELOPER cease to operate the Project for a period of six months after the issuance of a certificate of occupancy, except as permitted in Section 6.03(g); and this Agreement be terminated due to an uncured breach by DEVELOPER. Additionally, such deed without warranty shall include the following disclaimers: Additionally, such deed without warranty shall include a restrictive covenant, which shall run with the land, prohibiting 000 X. Xxxxx Xxxxxx from being used as any type of nightclub. If at the end of the Lease Term, DEVELOPER has not timely performed its obligations concerning the structural and roof repairs, this Agreement shall expire and the parties shall be relieved of all further obligations hereunder.
Property Conveyance. At Seller’s option, most Properties (but not all) are conveyed with insurable title via a special warranty deed, with title insurance by standard title policies (as applicable), subject to current taxes, rights-of-way, assessments, easements and other conditions of record, and any exceptions written in the preliminary title report or commitment as well as other standard title exclusions, as set forth in the Purchase Agreement and other related purchase documentation. Certain Properties (e.g., Newly Foreclosed Auction Properties) may not be eligible for title insurance and title insurance will not be provided for such Properties. Certain other Properties (e.g., those sold subject to the redemption rights of third parties or pursuant to a Newly Foreclosed designation) will be conveyed either by quitclaim deed or by an assignment of the sheriff’s deed/certificate, and the Seller makes no warranties of title. The Website, the Purchase Agreement, and related documentation should be consulted for further information, and are available upon request.
Property Conveyance. Subject to and in accordance with the terms and conditions hereinafter set forth, City agrees to cause the conveyance of the City Parcels to Buyer, Authority and City agree to cause the conveyance of the Authority Parcels to Buyer, and Xxxxx agrees to accept the conveyance of said parcels from City and Authority. Upon the Close of Escrow (defined below) for said conveyances, the City Parcels Lease, the Authority Parcels Lease, and the Authority Parcels Sublease shall be deemed to have been terminated and of no further force or effect, and none of the Parties shall have any further rights or obligations thereunder.
Property Conveyance. Developer shall purchase, and City shall cause the conveyance of, the land that comprises Phases within the Project, or Parcels that are established within Project, at the time and in accordance with the schedule set forth in attached Exhibit “K”. Notwithstanding the foregoing, for the duration of the Due Diligence Period only, Developer shall have no obligation to purchase any Phase, and/or Parcel, unless and until the conditions set forth in Article 4 hereof are satisfied as determined by Developer in its sole discretion as to a Phase or Parcel being purchased by Developer. Subject to the terms of the schedule set forth in Exhibit “K”, Developer shall have the right to close on the purchase of Phases or Parcels in advance of the dates set forth in E xhibit “K” so long as the Developer provides at least 21 days advance written notice to City of the Parcel or Phase Developer desires to purchase. At Closing on a Parcel or Phase, Developer shall pay the City the Purchase Price for the Parcel or Phase based on the formula set forth in Section 5.4 hereof and the City shall convey to the Developer (or an affiliated holding company selected by the Developer upon approval by the City), fee simple title to the Project Site subject only to the Permitted Exceptions (defined in Section 5.5 below).
Property Conveyance. The City shall cause the conveyance of the Project Site, Phases or Parcels pursuant to the terms set forth in this Agreement.
