Reso 2008-1264 - Laserfiche WebLink

Home Browse Search

I on or prior to the Closing Date, Buyer shall have the option of ei ther accepting title in its existing condition without any reduction of the Purchase Price, or of terminating this Agreement by delivering to Seller a written notice of termination at the Closing. Upon such a termination of this Agreement, neither Buyer nor Seller shall have further rights or obligations hereunder except for those that expressly survive termination of this Agreement except that the Escrow Funds shall be refunded to Buyer under these circumstances, provided that Buyer had timely exercised the Option in the manner required under this Agreement. 6. Survey. Wi thin the time period set forth In Section 5.1 to obtain a Title Commitment, Buyer may obtain at its expense a survey (the "Survey") of the Property showing all improvements thereon prepared by a land surveyor or engineer registered and licensed in the State of Florida. The Survey shall show the legal description of the Property to be the same as Exhibit "A" attached hereto. The Buyer may require any reasonable revision to the legal description but Seller shall not be required to convey any lands other than the legal description of the Property set forth on Exhibit "A" attached hereto. Any obj ections must be delivered to Seller's attorney wi thin thirty (30) days after the Effective Date. Upon such proper and timely notification, all such objections to matters shown on the Survey which render ti tle unmarketable shall be treated as Title Objections in accordance with Section 5.2 hereof. Buyer's failure to include any such matter in such a timely notice shall constitute a waiver by Buyer of its right to object to all matters which an accurate, current survey of the Property would reveal, which shall thereafter be deemed Permitted Exceptions for all purposes hereunder 7. Seller's Representations. Seller hereby represents and warrants to Buyer as of the Effective Date and as of the Closing Date as follows: 7.1 Seller's Authority. Seller has legal right and abili ty to sell the Property pursuant to this Agreement. The execution and delivery of this Agreement by Seller and the consummation by Seller of the transaction contemplated by this Agreement is wi thin Seller's capacity and all requisi te action has been taken to make this Agreement valid and binding on Seller in accordance with its terms.