Common use of Real Property and Improvements Clause in Contracts

Real Property and Improvements. The Stockholder owns the Real Property and Improvements in fee simple, free and clear of all Liens, except those disclosed in Schedule 3.3(a), none of which currently or, to its knowledge, in the future will affect the use of the Real Property or the Improvements for the conduct of the business of the Company as presently conducted. No assessments have been made against any portion of the Real Property which are unpaid (except ad valorem taxes for the current year that are not yet due and payable), whether or not they have become Liens. There are no disputes concerning the location of the lines and corners of the Real Property. No one has been granted any right to purchase or lease the Real Property or Improvements other than the existing leases in favor of the Company, which are to be terminated at the Closing by agreement between the parties and pursuant to which the Stockholder shall acknowledge that there are no defaults under any such leases and that the Company has no liability arising out of or relating to such leases.

Real Property and Improvements. The Stockholder owns the Real Property and Improvements owned by the Stockholders are owned in fee simple, free and clear of all Liens, claims and encumbrances, except those disclosed in Schedule 3.3(a)3.3, none of which currently or, to its their knowledge, in the future will affect the use of the Real Property or the Improvements for the conduct of the business respective businesses of the Company Companies as presently conducted. No assessments have been made against any portion of the Real Property which are unpaid (except ad valorem taxes for the current year that are not yet due and payable), whether or not they have become Liens. There are no disputes concerning the location of the lines and corners of the Real Property. No one has been granted any right to purchase or lease the Real Property or Improvements other than the existing leases in favor of the CompanyCompanies, which are to be terminated at the Closing by agreement between the parties and pursuant to which the Stockholder Stockholders shall acknowledge that there are no defaults under any such leases and that the Company has no liability arising out of or relating to either of the Companies results from such leases. The Stockholders shall make available to UAG all surveys, title binders, title policies and copies of any exceptions to title in their possession or control.