Laserfiche WebLink
Company appropriate indemnification, then the Agency will not be in Default for failing to <br />secure a final judgment in an eminent domain action under this Agreement and any termination <br />of this Agreement by reason thereof shall fall under Sections 807, 808 or 809, as the case may <br />be. <br /> <br /> §310 Form of Grant Deed or Grant Deeds <br /> <br /> The Agency shall convey title to the Agency and Acquisition Parcels to Developer in the <br />condition provided in Section 311 of this Agreement by Grant Deed or Grant Deeds in the form <br />attached to this Agreement as Attachment 5 hereto (the "Grant Deed" or "Grant Deeds"). <br /> <br /> §311 Condition of Title <br /> <br /> Developer shall have caused First American Title Company (the "Title Company") to <br />prepare a Preliminary Report with respect to thc Agency Parcel and each Acquisition Parcel in <br />connection with the policy or policies of title insurance to be issued pursuant to Section 312. <br />Developer has been provided with a copy of each Preliminary Report and shall have approved <br />the condition of title stated therein with respect to the Agency Parcel and each Acquisition <br />Parcel. <br /> <br /> The Agency shall convey or cause to be conveyed to Developer fee title to thc Agency <br />and Acquisition Parcels free and clear of all recorded liens, encumbrances, covenants, <br />assessments, easements, leases and taxes, other than those exception to title that have been <br />approved in writing by Developer (thc "Permitted Exceptions"), which approval will not be <br />unreasonably withheld. All assessments and taxes shown on such Preliminary Reports that are <br />Permitted Exceptions shall be satisfied from the Letter of Credit (or Cash Deposit) at the time of <br />acquisition by the Agency. <br /> <br /> §312 Title Insurance <br /> <br /> Concurrently with recordation of the Grant Deed or Grant Deeds conveying title to the <br />Agency and Acquisition Parcels, thc Title Company shall provide and deliver to Developer, <br />ALTA title insurance policy(ies) issued by the Title Company insuring that the title to the <br />Agency and Acquisition Parcels is vested in Developer in the condition required by Section 311 <br />of this Agreement together with such endorsements as are required by Developer. The Title <br />Company shall provide the Agency with a copy of the title insurance policy. <br /> <br /> Concurrently with the recording of the Grant Deed or Grant Deeds, the Title Company, if <br />requested by Developer, shall provide Developer with an endorsement to insure the amount of <br />Developer's estimated development costs of the improvements to be constructed upon the <br />applicable Agency and Acquisition Parcels, including the costs of demolition, site cleating, <br />grading, construction of buildings, and installation of infrastructure improvements ("Acquisition <br />Development Costs"). <br /> <br /> §313 Taxes and Assessments <br /> <br /> Ad valorem taxes and assessments, if any, and taxes which may be levied, assessed or <br />imposed upon Developer's exercise of any rights under this Agreement, shall be borne by <br />Developer to the extent Developer is responsible for the payment thereof in accordance with the <br />provisions of Section 510. <br /> <br /> 13 <br />DOCSSF1:648942.4 <br />9975'5 C14 <br />120502 <br /> <br /> <br />