SURVEY, TITLE AND INSPECTION PERIOD Clause Samples
SURVEY, TITLE AND INSPECTION PERIOD. 5.1 A. Items To Be Delivered by Seller. Within the time period specified in the Schedule, Seller shall order, obtain and deliver to Purchaser the following:
(i) The Survey. Seller will provide to Purchaser the most recent Survey. The Survey shall: (i) meet or exceed the standards for a Category IA, Condition I or II, as applicable, survey (as defined by Standards for Land Surveys and Specifications for Categories of Surveying of the Texas Surveyors Association); (ii) set forth the gross acreage within the Property; (iii) locate and show the size of any portion of the Property which is currently located in a flood plain or other flood hazard area according to any of the applicable city maps, the Flood Insurance Rate Maps or the Flood Hazard Boundary Maps, issued by the Department of Housing and Urban Development, the Federal Insurance Administration, or the Federal Emergency Management Agency; (iv) locate all existing improvements, easements and rights-of-way (including applicable recording data), encroachments, conflicts, and protrusions affecting the Property and significant matters observed by the Surveyor, whether or not of record; (v) reflect the location and size of all gas, electrical, water, and sewer lines, wires and cable crossings, and anchors or guy wires located on the Property; (vi) show the location of all required building set back lines; (vii) show the location of abutting dedicated public streets providing access to the Property, and all sidewalks, curbs, and driveways; and (viii) show the location and type of fences and other improvements along the boundaries and (ix) when available, show the location of the Drill Site and Access Reservation. The surveyor’s certificate shall be in a form acceptable to Seller, Purchaser, any lender that will advance all or a portion of the Purchase Price to Purchaser, and the Title Company. The legal description of the Property contained in the new Survey, if different from the description contained in Exhibit “A”, shall be substituted for the description of the Property contained in Exhibit “A”, and the Agreement shall be deemed amended by the substitution of the legal description of the Property contained in the new Survey for the description of the Property contained in Exhibit “A”. If the survey needs updating, Seller will reimburse Purchaser at closing up to $8,000.00, however, if Purchaser terminates this Agreement the cost of the Survey shall be Purchaser’s sole cost and expense.
(ii) The Seller sha...
SURVEY, TITLE AND INSPECTION PERIOD. 5.1 A. Items To Be Delivered by Seller. Within the time period specified in the Schedule, Seller shall order, obtain and deliver to Purchaser the following:
SURVEY, TITLE AND INSPECTION PERIOD. 5.1 Items To Be Delivered by Seller. Within the time period specified in the Schedule, Seller shall deliver to Purchaser, at Seller’s expense, the following:
(a) To the extent such statements are in Seller’s possession, copies of the ad valorem tax statements covering the Property for the three (3) year period prior to the Effective Date of the Agreement (or the period of ▇▇▇▇ ▇▇▇▇▇▇ has owned the Property, whichever is less) and, if and when available, for the current year.
(b) All information in the possession of Seller concerning the Property including, but not limited to, all plans for the development of the Property, all soil reports, traffic studies, engineering studies, and environmental reports, utility and drainage improvement information pertaining to the Property, all information relating to obtaining the approval of local governing bodies for development of the Property, all information regarding present or future zoning of the Property, and all information concerning availability of storm sewers, sanitary sewers, streets, water, or utilities; provided, however, in no event shall Seller be obligated to deliver or make available to Purchaser any of Seller’s internal memoranda, attorney-client privileged materials, or any information subject to confidentiality agreements with, or obligations to, third parties. The Property Information is provided simply as an accommodation to Purchaser, and Seller makes no and has not made any representation or warranty, express or implied, regarding the accuracy of the Property Information. Purchaser understands that some of the Property Information was provided by others to Seller and was not prepared by or verified by Seller. In the event the transaction contemplated hereby shall fail to close for any reason, Purchaser shall, at its expense, promptly deliver to Seller (i) all existing originals and copies of the Property Information supplied to Purchaser by Seller or its agents, and (ii) to the extent not previously delivered to Seller, true and complete copies of all Purchaser’s Reports (as defined below). The terms of this Section 5.1 shall survive the termination of this Agreement.
SURVEY, TITLE AND INSPECTION PERIOD