Common use of Interest Conveyed Clause in Contracts

Interest Conveyed. At closing, Seller shall execute and deliver to Buyer a statutory warranty deed in accordance with the provisions of Section 689.02, Florida Statutes (the "Deed"), conveying marketable title to the Property in fee simple free and clear of all liens, reservations, restrictions, easements, leases, tenancies and other encumbrances, except for the Permitted Exceptions. At closing, Seller shall reserve in the Deed an access easement over those portions of Loop Road and Off-Hill Grade Road depicted on Exhibit "B" attached hereto (the "Access Easement"). The parties shall agree upon the language of the Access Easement to be included in the Deed prior to the expiration of the Option Expiration Date. In addition, Buyer acknowledges and agrees that the Property is subject to and after closing shall continue to be subject to that certain Utility Easement in favor of Sprint-Florida, Incorporated, dated July 22, 1999, and recorded August 17, 1999 in Official Records Book 588, Page 1125 of the Public Records of Hxxxxx County, Florida, which property is depicted in Exhibit "C" (collectively, the "Utility Easement"). No interest in (or any allocation of water permitted by) Water Use Permit26-01112-W (the "WUP") is being conveyed to Buyer. Buyer acknowledges and agrees that Seller will, either before or after closing, cause the WUP to be modified with SFWMD such that the allocation of any and all water allocated to the Property pursuant to the WUP will be reallocated to other lands owned by Seller and that after such modification the WUP will no longer apply to the Property. For purposes of this Agreement, the term "Permitted Exceptions" shall mean: (i) applicable zoning and building ordinances and land use regulations; (ii) the lien of any and all taxes and assessments not yet due and payable; (iii) easements, licenses, covenants, conditions, restrictions, leases, reservations, exceptions and other encumbrances referenced in the Title Commitment and not specifically objected to by Buyer in the Notice of Title Objections (defined below); (iv) any exceptions caused by Buyer, its agents, representatives or employees; (v) any matters accepted or deemed accepted by Buyer pursuant to the terms and conditions of this Agreement, (vi) any matters agreed to by the parties in writing, (vii) the Access Easement, and (viii) the Utility Easement.

Interest Conveyed. At closing, Seller shall execute and deliver to Buyer a statutory warranty deed in accordance with the provisions of Section 689.02, Florida Statutes (the "Deed")Statutes, conveying marketable title to the Property in fee simple free and clear of all liens, reservations, restrictions, easements, leases, tenancies and other encumbrances, except for the Permitted Exceptions. At closing, Seller shall reserve in the Deed an access easement over those portions of Loop Road and Off-Hill Grade Road depicted on Exhibit "B" attached hereto (the "Access Easement"). The parties shall agree upon the language of the Access Easement to be included in the Deed prior to the expiration of the Option Expiration Date. In addition, Buyer acknowledges and agrees that the Property is subject to and after closing shall continue to be subject to that certain Utility Easement in favor of Sprint-Florida, Incorporated, dated July 22, 1999, and recorded August 17, 1999 in Official Records Book 588, Page 1125 of the Public Records of Hxxxxx County, Florida, which property is depicted in Exhibit "C" (collectively, the "Utility Easement"). No interest in (or any allocation of water permitted by) Water Use Permit26Permit 26-01112-W (the "“WUP"”) is being conveyed to Buyer. Buyer acknowledges and agrees that Seller will, either before or after closing, cause the WUP to be modified with SFWMD such that the allocation of any and all water allocated to the Property pursuant to the WUP will be reallocated to other lands owned by Seller and that after such modification the WUP will no longer apply to the Property. At closing, Seller shall disclaim any and all interest Seller may have in and to any other permits pertaining to the Property. For purposes of this Option Agreement, the term "“Permitted Exceptions" ” shall mean: (i) applicable zoning and building ordinances and land use regulations; (ii) the lien of any and all taxes and assessments not yet due and payable; (iii) easements, licenses, covenants, conditions, restrictions, leases, reservations, exceptions and other encumbrances referenced in the Title Commitment and not specifically objected to by Buyer in the Notice of Title Objections (defined below); (iv) any exceptions caused by Buyer, its agents, representatives or employees; (v) any matters accepted or deemed accepted by Buyer pursuant to the terms and conditions of this Option Agreement, and (vi) any matters agreed to by the parties in writing. Seller agrees to attempt to have the Property removed from the affect of that certain Water Control Easement from Alico Land Development Company, a Florida corporation, to the Devils Garden Water Control District, a public corporation, dated June 25, 1973 and recorded March 8, 1974 in Official Records Book 177, Page 246; Partial Release of Easement as set forth in Official Records Book 544, Page 1589; Official Records Book 579, Page 1725; Official Records Book 961, Page 729, all of the Public Records of Hxxxxx County, Florida (collectively, the “WCD Easement”), prior to closing. In the event Seller is unable to obtain a partial release of the WCD Easement with respect to the Property prior to the closing date, (viia) Seller may extend the closing date for a reasonable amount of time necessary to obtain the partial release by providing written notice to Buyer, (b) Buyer may elect to close without the partial release by providing written notice to Seller, or (c) the Access Easement, and (viii) parties may agree in writing that Seller shall seek to obtain the Utility Easementpartial release after closing.

Interest Conveyed. At closing, Seller shall execute and deliver to Buyer a statutory warranty deed in accordance with the provisions of Section 689.02, Florida Statutes (the "Deed")Statutes, conveying marketable title to the Property in fee simple free and clear of all liens, reservations, restrictions, easements, leases, tenancies and other encumbrances, except for the Permitted Exceptions. At closing, Seller shall reserve in the Deed an access easement over those portions of Loop Road and Off-Hill Grade Road depicted on Exhibit "B" attached hereto (the "Access Easement"). The parties shall agree upon the language of the Access Easement to be included in the Deed prior to the expiration of the Option Expiration Date. In addition, Buyer acknowledges and agrees that the Property is subject to and after closing shall continue to be subject to that certain Utility Easement in favor of Sprint-Florida, Incorporated, dated July 22, 1999, and recorded August 17, 1999 in Official Records Book 588, Page 1125 of the Public Records of Hxxxxx County, Florida, which property is depicted in Exhibit "C" (collectively, the "Utility Easement"). No interest in (or any allocation of water permitted by) (a) Water Use Permit26Permit [26-01112-W W], (b) Water Use Permit [26-01034-W], or (c) Water Use Permit [26-00505-W] (collectively, the "“WUP"’s”) is being conveyed to Buyer. Buyer acknowledges and agrees that Seller will, either before or after closing, cause the WUP WUP’s to be modified with SFWMD such that the allocation of any and all water allocated to the Property pursuant to the WUP will be reallocated to other lands owned by Seller and that after such modification the WUP WUP’s will no longer apply to the Property. For purposes of this Agreement, the term "“Permitted Exceptions" ” shall mean: (i) applicable zoning and building ordinances and land use regulations; (ii) the lien of any and all taxes and assessments not yet due and payable; (iii) easements, licenses, covenants, conditions, restrictions, leases, reservations, exceptions and other encumbrances referenced in the Title Commitment and not specifically objected to by Buyer in the Notice of Title Objections (defined below); (iv) any exceptions caused by Buyer, its agents, representatives or employees; (v) any matters accepted or deemed accepted by Buyer pursuant to the terms and conditions of this Agreement, and (vi) any matters agreed to by the parties in writing, (vii) the Access Easement, and (viii) the Utility Easement.

Interest Conveyed. At closing, Seller shall execute and deliver to Buyer a statutory warranty deed in accordance with the provisions of Section 689.02, Florida Statutes (the "Deed")Statutes, conveying marketable title to the Property in fee simple free and clear of all liens, reservations, restrictions, easements, leases, tenancies and other encumbrances, except for the Permitted Exceptions. At closing, Seller shall reserve in the Deed an access easement over those portions of Loop Road and Off-Hill Grade Road depicted on Exhibit "B" attached hereto (the "Access Easement"). The parties shall agree upon the language of the Access Easement to be included in the Deed prior to the expiration of the Option Expiration Date. In addition, Buyer acknowledges and agrees that the Property is subject to and after closing shall continue to be subject to that certain Utility Easement in favor of Sprint-Florida, Incorporated, dated July 22, 1999, and recorded August 17, 1999 in Official Records Book 588, Page 1125 of the Public Records of Hxxxxx County, Florida, which property is depicted in Exhibit "C" (collectively, the "Utility Easement"). No interest in (or any allocation of water permitted by) Water Use Permit26Permits 26-0111200453-W W, 26-00453-S (Drainage), 26-00453-S (Center Pivot), 26-00108-W, 26-00483-S, 26-00483-W, 26-00323-E, and 26-00522- S (the "WUPPermits") is are being conveyed to Buyer. Buyer acknowledges and agrees that Seller will, either before or after closing, cause the WUP Permits to be modified with SFWMD such that that, as applicable, the allocation of any and all water allocated to the Property pursuant to the WUP Permits will be reallocated to other lands owned by Seller and that in any event after such modification the WUP Permits will no longer apply to the Property. At closing, Seller shall disclaim any and all interest Seller may have in and to any other permits pertaining to the Property. For purposes of this Option Agreement, the term "Permitted Exceptions" shall mean: (i) applicable zoning and building ordinances and land use regulations; (ii) the lien of any and all taxes and assessments not yet due and payable; (iii) easements, licenses, covenants, conditions, restrictions, leases, reservations, exceptions and other encumbrances referenced in the Title Commitment and not specifically objected to by Buyer in the Notice of Title Objections (defined below); (iv) any exceptions caused by Buyer, its agents, representatives or employees; (v) any matters accepted or deemed accepted by Buyer pursuant to the terms and conditions of this Option Agreement, and (vi) any matters agreed to by the parties in writing. This Option Agreement is contingent on the modification of certain access easements and drainage easements agreed to in writing by the Seller and Buyer, (vii) the Access Easement, and (viii) the Utility Easementwhich modification must meet Buyer's reasonable approval. 10.