Orange County NC Website
Browse       Search
7" y <br /> (2) 'Title Defects"are mortgages,liens,encroachments,encumbrances,tenancies, <br /> occupancies,restrictions,servitudes,riparian rights,and mineral rights. <br /> (iv) Seller has no knowledge and has received no notice of condemnation or eminent <br /> domain proceedings with respect to all or any portion of the Subject Premises or any interest in the Subject <br /> Premises. <br /> (v) Seller has no knowledge that any lawsuits,actions or proceedings relating to the <br /> Subject Premises have been instituted or threatened. <br /> (vi) No hazardous or toxic substances have ever been stored,buried or otherwise situated <br /> on the land descnbed in Exhibit A. <br /> (virt) Neither all nor part of the Subject Premises is leased to or occupied by any person <br /> except as specified in Exhibit C. <br /> (viii)No option to purchase or lease all or part of the Subject Premises has been granted <br /> except as specified in Exhibit C. No person other than Purchaser has the right to purchase all or part of the <br /> Subject Premises. <br /> (ix) Seller and Purchaser were not introduced to each other by a broker(other than any <br /> person designated as the "Broker" in the Contract Schedule),and no broker(other than any person <br /> designated as the "Broker", in the Contract Schedule)_has participated in negotiations between Seller and <br /> Purchaser. <br /> (b) (i) Seller shall not grant any mortgage,lien,encumbrance,easement,or restrictive covenant <br /> with respect to all or part of the Subject Premises. <br /> .(iii) Seller shall not lease all or any part of the Subject Premises to any person, and Seller shall <br /> not permit any person to take occupancy of all or any part of the Subject Premises. <br /> (iii) Seller shall not permit all or part of the Subject Premises to be encumbered by a mechanics <br /> or materialman's lien. <br /> (iv) Seller shall not consent to any variance or special use permit with respect to the zoning and <br /> building laws applicable to all or part of the Subject Premises without Purchaser's consent except in - <br /> accordance with Section S. <br /> (v) Seller shall not sell all or any part of the Subject Premises except in accordance with this <br /> Contract. <br /> (vi) Except for this Contract,Seller shall not enter into a contract with any person for the sale <br /> of all or part of the Subject Premises,and Seller shall not grant an option to any person for the purchase of <br /> all or part of the Subject Premises. <br /> 4. PHYSICAL INSPECTION <br /> (a) Seller grants Purchaser the right to conduct a site investigation of the Subject Premises. <br /> (b) (i) The right to conduct a site investigation includes the right to take measurements,make <br /> inspections,make boundary and topographical survey maps,and conduct geotechnical and other studies. <br /> The geotechnical studies may include test borings,percolation tests,sewage disposal studies,drainage <br /> studies,and studies to determine whether the Subject Premises has been used for dumping or disposal of <br /> chemical or hazardous substances. <br /> (it)The ri&to conduct a site investigation also includes the right to gather information with <br /> respect to the availability of utilities. <br /> (c)•Purr2tmr may exercise the rights granted pursuant to this Section at any time after the date of <br /> this Contract. <br /> (d) (i) Purchaser shall take appropriate safety precautions to avoid the creation or maintenance of <br /> hazards as a result of-the site investigation. <br /> (it) Purchaser shall repair or replace any damage to the Subject Premises caused by the site <br /> investigation. <br /> 3 <br />