1988-06-17 Resolution 5 - Laserfiche WebLink

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~ a radius of 912.43 ~eet, subtended by a chord having a bearing of South 04 42'19" West .and a length of 186.66 feet to the point of beginning. for One Dollar ($1.00). (the "Purchase Price") and other good and valuable consideration, the receipt of which is hereby acknowledged by the Seller. 2. Conveyance of Property. A. Form of Deed. The Seller shall convey to the Purchaser title to the Property by warranty deed {the "Deed"). In addition to the other conditions,. covenants and restrictions in this Agreement, such conveyance and title shall be subject to: (1) Easements necessary for the Seller to dedicate and grant or to reserve unto itself for future easements for any public or private utilities and facilities; (2) Building codes and zoning ordinances of the City of South Bend; and (3) Any and all other covenants, restrictions, easements and reservations of record. B. Time and Place for Closing on Sale of the Property. ~~ • The Seller shall deliver the Deed and possession of the Property to the Purchaser on .July 18, 1988, or earlier, if the parties mutually agree in writing. Conveyance shall be made at the principal office of the Seller. The Purchaser shall accept the conveyance and pay the Purchase Price to the Seller at .that time. C. Recordation of Deed. The Seller shall promptly record the Deed in the St. Joseph County Recorder's .Office. The Seller shall pay all costs for recording the Deed. D. Title Insurance. The Seller shall furnish the Purchaser a title insurance policy insuring marketable title in Purchaser in the amount of the Purchase Price,. subject only to covenants, easements and restrictions of record and unpaid taxes not yet payable, with all title exceptions and endorsements to such policy being subject to .approval by Purchaser's counsel and delivery of a -general warranty -deed conveying marketable title to Purchaser and an opinion of Seller's counsel that all statutory requirements relating to the sale have been met. The title insurance commitment will agree to insure not only the Property but also all easements providing access to public highways and will include an endorsement as to access and will have all standard exceptions deleted other than the mechanics lien exception. • -2-