2009-016-ORD REZONE 3700 BONHAM - Laserfiche WebLink

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Commercial Contract - Unimproved Property Concerning TITLE POLICY AND SURVEY: A. Title Polic ex ense, will furnish Buyer an Owners Policy of Title Insurance (the le title company) (1) Seller, at Seller's P stone Title _Company issued by amount of the sales price, dated at or after closing, insuring Buyer against loss under the title In the Buyer in writing; and policy, subject only to: be approved by Buy g promulgated ated form of title policy unless this (a} those title exceptions permitted by this contract or as may (b) the standard edpeS otherwcse.tions contained in the p 9 contract pro standard tinted exception as to discrepancies, nfls,imP ovemaents: lines, area and boundary or any overlapping �2) nesSOr any enperoachments or protrusions, olic ® (a) will not be amended or deleted from the title p Y b will be amended to read "shortages in areas" at the expense of ❑ the Property Buyer ❑ Seller. under ❑ () p within the time required (3) Buyer may object to an y restrictive covenants on Paragraph 6C. (4) Within 14 --days after the effective date, Seller will furnish Buyer aC it title texceptions. Seller (the commitment) including legible copies of recorded documents evidencing title company to deliver the commitment and related documents to Buyer at Buyer's authorizes the P address. B. Surve : Within days after the effective date: of the survey to 1 Buyer will obtain. a survey of the Property at Buyer's expense and deliver a copy ❑ () a must be made in accordance with the Texas Society of Professional Surveyors' Seller. The survey 1A survey under the appropriate condition., standards for a Category Seller's expense, will furnish Buyer a survey of the Property dated after the effective date. ❑ (2) Seller, at Se P e must be made in accordance with the Texas condifion!ety of Professional Surveyors The survey 1A survey under the appropriate standards for a Category of Seller's existing survey an a true and correct copy the title ® (3) Seller will deliver to Buyer and the title company a along with an affidavit required by t le of the Property dated Janu r 1 at royal of the survey. If the survey is not acceptable to the title company, company for app acceptable to the title company and deliver the acceptable Seller's expense, will obtain a survey within 15 days after Seller receives notice that the survey to the Buyer and the title company The closing date will be extended daily up to existing survey is not acceptable to the title company. required. 15 days if necessary for Seller to deliver an acceptable survey within the time req C. Bu per's Objections to the Commitment and Survey: ment copies of the documents evidencing the (1) Within —5 days after Buyer receives the commit and an required survey, Buyer may object in writing to matters disclosed in t E title exceptions, Y items if: (a) itle other than thosE the matters disclosed constitute a defect ° sinu obBuyer willtassume at closing; o art of the Property lies in a special flood hazard area (an A or V permitted by this contract or liens that Seller will sates a cloer is deemed to receive the survey or (b) the items show FEMA)y If Paragraph 66(1) applies, Buy zone as defined by • the date of Buyer's actual receipt of the survey; or (ii) of the ,deadline specified er the earlier of: (e) Paragraph 66. `f� Page 3 of 1: Initialed for Identification by Buye and Seller (TAR -1802) 10 -18 -05 r Montgomery • 1 produced with ZipForrra by zipLogix 16070 Fifteen Mile Road, Fraser, Michigan 48026 www zipLoaix com