WORK PLANS - Laserfiche WebLink

Home Browse Search

Iftse 4.2. Title insurance. On the Closing Date, Buyer shall receive from Alliance Title Company(the"Title Company")a CLIA(or, if Buyer obtains a survey of the Property,an ALTA) Owner's Policy of Title Insurance with liability in the full amount of the Purchase Price, insuring fee simple title to the Property in Buyer, subject only to the Permitted Exceptions, together with such endorsements as may be reasonably requested by Buyer. Such policy shall provide full coverage against mechanics' and materialmen's liens arising out of the construction, repair or alteration of any of the Improvements. 4.3. Concrete Batch Plant. There currently exists a concrete batch plant on the Property(the"Concrete Batch Plant' which is leased by American Transit Mix ("American's,pursuant to that certain lease between Seller and American dated (the"American Lease"). The American Lease expires in approximately 2.5 years, and has 2 five year options to renew, exercisable by American. Buyer shall give Seller prompt written notice of the expiration of earlier termination of the American Lease(the"Termination Notice"). Within sixty (60) days after Seller's receipt of the Termination Notice, Seller shall, at its sole cost and expense, remove and retain/relocate the Concrete Batch Plant. Seller shall remove all of the structure of the Concrete Batch Plant except embedded concrete and concrete access ways and return the site to its natural condition except for embedded concrete and concrete access ways. Buyer will allow Seller reasonable access to the Property for the purpose of allowing Seller to remove the Concrete Batch Plant; provided that Seller shall take commercially reasonable efforts to minimize interference with the conduct of Buyer's business operations on the Property in connection therewith. ,From and after the Closing, Buyer shall have no duty or obligation to maintain or repair the Concrete Batch Plant, and Seller agrees to take and remove the Concrete Batch Plant at the end of the American Lease in its then "AS-IS, WHERE-IS"condition. Subject to any rights granted in the American Lease, Buyer will make no agreements with American permitting American to remove any components of the Concrete Batch Plant. Subject to Seller actually removing the Concrete Batch Plant, Buyer agrees to execute such documents as are reasonably requested by Seller to transfer title of the Concrete Batch Plant to Seller. 5 t 5303/c/2