Conveyance of the Property. Subject to the terms and conditions of this Agreement, the City agrees to convey vacant infill property zoned for residential use in exchange for Developer’s agreement to construct a residence in conformance with building plans submitted and approved by the City.
Conveyance of the Property. At Closing, Seller shall convey the Real Property subject to (i) all Permitted Exceptions, and (ii) all Unpermitted Exceptions which are cured by causing the Title Company to remove or insure over such Unpermitted Exceptions in the Title Policy, but which otherwise are not removed from title.
Conveyance of the Property. The EDC covenants and agrees to convey to the Developer good and indefeasible fee simple title to the Property, free and clear of any liens or other encumbrances, by special warranty deed within ninety (90) days of the Effective Date of this Agreement or consistent with the terms of a real estate sales contract executed by and between the Developer and the EDC.
Conveyance of the Property. Provided that an Event of Default on the part of Developer has not occurred or circumstances exists that with the passage of time and the giving of notice would constitute an Event of Default on the part of Developer, upon the closing of the sale of the applicable townhouse units that were constructed on the CRA Property the CRA shall convey the CRA Property to the Developer. Without limiting the foregoing, the parties acknowledge and agree that the CRA Property may need to be conveyed at different times by separate Deeds depending on the townhouse unit closings. Such conveyance shall be by Special Warranty Deed (the “Deed”) and subject to all matters of record including, but not limited to, the mortgage and any other security documents related to the Construction Loan and otherwise on an “AS-IS” “WHERE-IS” basis with no representations or warranties of any kind whatsoever except for title as set for in the Deed. The Developer acknowledges and agrees that a covenant is to recorded in the Public Records simultaneously with the Deed pursuant to which (i) the Developer agrees to (i) that the Property shall remain a residential townhouse for a minimum period of fifteen (15) years and (ii) if (i) is violated the individual principal members of the Developer agree to pay to the CRA the value of the Property (i.e., $________.00) with such amount amortized on a straight line basis over the fifteen (15) year period, which covenant shall be in form and substance reasonably acceptable to the CRA and its legal counsel; provided, further, that since the Developer is selling the townhouse units to third party end users, the covenant set forth above shall also be supplemented by a guaranty from the Developer and its individual principal members, which guaranty shall be in form and substance reasonably acceptable to the CRA and its legal counsel. The CRA shall also provide an owner’s affidavit as well as other documents reasonably required by the title company to provide Developer with an owner’s title insurance policy. In addition to the foregoing, the Developer agrees to accept title to the Property subject to a perpetual Declaration of Restrictive Covenants prepared by the CRA’s legal counsel and in a form and substance acceptable to the CRA in all respects that provides for, among other things, (a) the maintenance, repair and replacement of the Project so that it remains consistent with the Site Plan for a period of fifteen (15) years and (b) the prohibition of certai...
Conveyance of the Property. At Closing, the Seller shall convey the Real Property to the Purchaser subject only to the Permitted Encumbrances (or any Unpermitted Exceptions that Purchaser has elected to accept pursuant to Section 4.2.2 above).
Conveyance of the Property. At Closing, Seller shall convey to Purchaser the Property subject to all Title Exceptions and Survey Defects other than the Unpermitted Exceptions which are cured by causing the Title Company to insure over such Unpermitted Exceptions in the Title Policy, but which otherwise are not removed from title.
Conveyance of the Property. The term "Owner" as used herein shall mean and include only the owner or owners at the time in question of the Owner's interest in this Lease so that in the event of any transfer or transfers (by operation of law or otherwise) of Owner's entire interest in this Lease, Owner herein named (and in the case of any subsequent transfers or conveyances, the then transferor) shall be and hereby is automatically freed and relieved, from and after the date of such transfer or conveyance, of all liability in respect of the performance of any covenants or obligations on the part of the Owner contained in this Lease thereafter to be performed. Tenant shall have recourse against the Property for the satisfaction of any remedy it may have against Owner under this Lease.
Conveyance of the Property. At Closing, Seller shall convey to Purchaser (a) fee simple title to the Real Property and (b) title to the Personal Property, free and clear of all liens and encumbrances other than Permitted Exceptions.
Conveyance of the Property. At the Closing, Seller shall convey to the Purchaser, or Purchaser's nominee, good and clear record and marketable fee simple title to the Property insurable as provided in Section 6(e) above, which title will be free and clear of all liens, encumbrances, tenancies and restrictions (including condemnation proceedings) of any kind and nature. Seller will warrant that the title to the Property is free and clear of all liens, encumbrances, tenancies and restrictions whatsoever. At Closing, Seller will deliver to Purchaser such surveys, final plans and specifications for the Improvements in possession of or in control of Seller or Seller's counsel and all warranties with respect to the Property. At Closing, also, Seller shall execute and deliver (i) a mechanics lien affidavit in the form generally used in the State of Maryland, but which affidavit shall provide that all work done or material furnished on or at the Property have been completed and paid for in full; (ii) an assignment of Seller's entire interest in any permits, licenses or approvals affecting the Property (provided, however, in the absence of an express assignment, delivery of the deed will conclusively be deemed to constitute the assignment of all such permits, licenses and approvals to Purchaser); (iii) originals of all site plans, surveys, soil and substrata studies, architectural drawings, plans and specifications, engineering plans and studies, floor plans, landscape plans and other plans or studies of ant kind that relate to the Property which are in the possession of Seller or its counsel; (iv) affidavits to Purchaser's title insurer as to parties in possession or with a right to possession of, and mechanic's liens with respect to the Property, which affidavits shall be sufficient to have the normal printed exceptions with respect to such matters, deleted from Purchaser's and Purchaser's lender's title insurance policy(ies); (v) an affidavit certifying that Seller is not a "foreign person" as of the Closing date, as provided in Section 4(m) hereof; (vi) a certificate by Seller to the effect that all of the representations and warranties set forth in Section 4 remain true and correct as of the Closing Date; (vii) a 1099-B form; (viii) a W-9 form stating that no backup withholding is necessary to disburse Seller's share, if any, of the interest earned with Xxxxxxx Money; (ix) such documents, certificates and instruments reasonable deemed necessary or appropriate by Purchaser's counsel to ef...
Conveyance of the Property. (a) Conveyance of the Property in its entirety to subsequent owners does not trigger a request for voluntary annexation unless Section 2 is also violated.
