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a. Real Estate Taxes and assessments not yet due and payable; <br /> <br />Other grants in favor of third parties that do not materially interfere with the current <br />use of the Property; <br /> <br />Easements or other grants to utility companies and/or public or quasi-public entitles <br />to facilitate the delivery of utilities to the Property, or for road, water, sewer, or other <br />public purposes, regardless of whether they are for the benefit of the Property. <br /> <br />Property condition. <br />Property: <br /> <br />The following agreements are made as to the condition of the <br /> <br />a. Buyer accepts the Property in as is condition. <br /> <br />5. Warranties and remedies. Seller hereby warrants and represents to Buyer that: <br /> <br />Seller is the sole owner of Seller's undivided three-tenths (3/10) interest of said real <br />Property with full right to sell and dispose of same as Seller may choose, and that no <br />other person or persons have any claim, right, title, interest or lien in and to or on said <br />undivided real Property interest, save and except that seven-tenths (7/10) interest <br />owned by Buyer, and subject to any and all other claims, liens, or encumbrances <br />placed thereon by Buyer; <br /> <br />Seller owes no obligation and has contracted no liabilities affecting the real Property <br />which might affect the consummation of the purchase described in this agreement; <br /> <br />Seller shall at or prior to closing pay all obligations owed by Seller against the <br />Property and/or business which is the subject of this agreement; <br /> <br />Seller shall execute and deliver at closing to the Buyer such Warranty Deed and other <br />instruments deemed necessary or proper to transfer to Buyer all the real Property <br />being sold pursuant to this agreement. <br /> <br />Title Insurance. Buyer shall obtain at Buyer's expense a commitment from a Title Insurance <br />Company licensed to do business in the State of Texas (the "Title Company") to issue a <br />standard policy of title insurance on the appropriate TLTA form in the amount of the <br />purchase price. Said title report shall address the current status of the title with regard to the <br />three-tenths (3/10) interest owned by Seller and conveyed herein. <br /> <br />Closing. The closing shall take place on or before March 1, 2003, at Young Title Company, <br />Inc., 2765 N.E. Loop 286, Paris, Lamar County, Texas. At closing, the following will occur: <br /> <br />a. Closing documents. The parties will execute and deliver the closing documents. <br /> <br />Page 4 of 8 <br /> <br /> <br />