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, claims and encumbrances, except those disclosed in SCHEDULE 3.3(a), none of which currently or, to the Stockholder's knowledge, in the future will affect the use of the Real Property or the Improvements for the conduct of the respective businesses 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. Except as set forth in ARTICLE 1 hereof, no one has been granted any right to purchase or lease the Real Property or Improvements other than the existing lease in favor of the Company, which is to be terminated at Closing. Attached as SCHEDULE 3.3 are all surveys, title binders, title policies and copies of any exceptions to title.