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Agenda - 12-12-2006-5i
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Agenda - 12-12-2006-5i
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9/1/2008 9:27:44 PM
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8/29/2008 9:56:22 AM
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BOCC
Date
12/12/2006
Document Type
Agenda
Agenda Item
5i
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Minutes - 20061212
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\Board of County Commissioners\Minutes - Approved\2000's\2006
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<br />Closing, and diligent efforts on Trinity's part to cure said objections, a Closing shall <br />beheld within a reasonable time following the removal of said objections. <br />7. EVIDENCE OF TITLE. Upon exercise of this Option, the Optionee will have title <br />to the Option Property examined; and if applicable, obtain a preliminary title <br />insurance commitment on the Option Property. The title examination and/or <br />commitment must evidence Trinity's ability to deliver title at Closing as set forth <br />below. All costs necessary to procure the title examination and, if applicable, the title <br />commitment and final title insurance policy to be issued at Closing, shall be the <br />responsibility of the Optionee. <br />8. ACCEPTABLE TITLE. Trinity represents and warrants to Optionee that Trinity <br />has the right; power and authority to enter into this Option and to sell the Option <br />Property in accordance with the terms hereof, and Trinity has granted no option to <br />any other person to purchase the Option Property. At Closing, Trinity shall convey <br />good, insurable and marketable title to the Option Property together with all rights <br />belonging to the Option Property, including insurable legal access, all mineral rights . <br />and all water rights, to the Optionee in fee simple, free and clear of all liens, <br />encumbrances, restrictions, rights, or exceptions except those of record that are <br />acceptable to the Optionee. <br />9. TITLE DEFECTS. If for any reason Trinity cannot deliver title at Closing as <br />required by Paragraph 5 of this Option, the Optionee may elect to a) accept the <br />Option Property with title.as is; b) refuse to accept the Option Property; or c) allow <br />Trinity additional time to pursue reasonable efforts to correct the problem, including <br />bringing any necessary quiet title actions or other lawsuits. <br />10. FIXTURES. Unless otherwise agreed to in writing, all trees, shrubbery and plants <br />and all fixtures attached to .the land or improvements, including, but not limited to, <br />plumbing, heating, lighting fixtures, and all existing appurtenances, are included in <br />this sale, and shall, upon Closing be considered the Option Property of the Optionee, <br />and its successors and assigns. Trinity hereby warrants and represents that Trinity is <br />the lawful owner of said fixtures and appurtenances, and that said fixtures are free <br />and clear of all liens and encumbrances. <br />11. DOCUMENTS FOR CLOSING. Trinity shall execute and deliver at Closing a <br />General Warranty Deed, any owner's ,affidavits or documents required by a title <br />insurance company to remove the standard title policy exceptions, and any other <br />documents necessary to close in accordance with the terms of this Option. These <br />documents will be prepared at the expense of the Optionee. <br />12. OPTION PROPERTY TAXES. Any delinquent real estate taxes and all levied <br />assessments are Trinity's responsibility and should be satisfied of record by Trinity <br />at or before Closing. Any deferred taxes on the Option Property, which become due <br />as a result of this conveyance, shall be the responsibility of Trinity. Any real estate <br />taxes for the year in which the transaction is closed shall be prorated between Trinity <br />and Optionee as of the date of Closing. <br />
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