AgdaPkt 2002-12-09 - Laserfiche WebLink

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q.�- i � 5 - Company apgropriate indemnification, then the Agency will not be in Default for failing W secure a 5nat judgment iaaa mrinent domain action under this Ageement and any termination of this Agreement by reason thereof shall fall under Sections 807, 808 or 809, as the case may be. - - _-- — ' §310 Form of Grant Deed or Grant Deeds The :Agency shall convey title to the Agency and Acquisition Parcels to Developer in the condition pmvided in Section 311 of t}ris Agroement by Grant Dced or Grant Deeds in the form attached to this Agreement as Attachment 5 hereto (the "Grant Deed" or "Crrant, Deeds'�. §311 Condition of Title De� :loper shall have caused First American Title Company (the "Title Compan�') to prepaze a P• �luninary Report with respect w the Agency Parcel and each Acquisition Parcel in connection with the policy or policies of title insurance w be issued puisuant to Secrion 312. Developer 'r; as been provided with a copy of each Preliminary Report and shall have approved the condiricn of ritle stated therein with respect to the Agency Parcel and each Acquisition Pazcel. The Agency shall convey or cause to be wnveyed to Developer fee title to the Agency and Acquisition Pazcels free and clear of all recorded liens, encumbrances, covenants, assessments, easements, leases and taxes, other than those exception to tifle that have been approved in writing by Developer (the "Permitted Exceptions"), wlrich approval will not be unreasonably withheld. All assessments and taxes shown on such Preluninary Reports that are Permitted Exceptions shall be sarisfied from the Letter of Credit (or Cash Deposit) at the time of acquisition by the Agency. §312 Tit1e Insurance Conciurently with recordarion of the Grant Deed or Grant Deeds conveying ritle to the Agency and Acquisition Parcels, the Title Company shall pmvide and deliver to Developer, ALTA title insurance policy(ies) issued by the Title Company insuring that the ritle to the Agency and Acquisition Pazcels is vested in Developer in the condition required by Section 311 of this Agreement together with such endorsements as aze required by Developer. The Title Company shall provide the Agency with a copy of the title insurance policy. Concurrently with the recording of the Grant Deed or Grant Deeds, the Title Company, if requested by Developer, shall provide Developer with an endorsement to insure the acnount of Developer's estimated development costs of the improvements to be constructed upon the applicable Agency and Acquisition Pazcels, including the costs of demolition, site clearing, grading, construction of buildings, and installation of infrastructure improvements ("Acquisition Development Costs"). §313 Taxes and Assessments Ad valorem taxes and assessments, if any, and taxes which may be levied, assessed or imposed upon Developer's exercise of any rights under this Agreement, shall be bome by Developer to the extent Developer is responsible for the payment thereof in accordance with the provisions of Section 510. 13 DOCSSF1:648942.4 9975-5 C I4 120502