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No. 2369 approving a counter offer from and a contract of purchase and sale with Key S.B. LLC and other related matters
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No. 2369 approving a counter offer from and a contract of purchase and sale with Key S.B. LLC and other related matters
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8/12/2009 12:20:46 PM
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8/12/2009 12:17:43 PM
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• <br />of the Commission, to substantiate such additional investment for designing and constructing the <br />Improvements. The Company represents and covenants that the Improvements will be <br />constructed in good workman-like manner and with materials which are consistent with the <br />representations set forth in the Construction Plans. The Improvements shall not be deemed to be <br />completed until the Company certifies that all Improvements have been completed and that it is <br />aware of no claims or circumstances that are likely to result in a mechanics lien being assessed <br />against the Property. <br />5. The Commission hereby represents and warrants to the Company that as of the <br />date hereof and on the date of Closing: <br />(a) The Commission has the full power and authority to execute, deliver and <br />perform Company's obligations under this Agreement and shall effectuate <br />the Closing in accordance with the applicable Indiana Laws. <br />(b) This Agreement and all agreements, instruments and documents herein <br />provided to be executed by the Commission are and as of the Closing will <br />• be duly authorized, executed and delivered by Commission. <br />(c) The individuals signing this Agreement and all other documents executed <br />or to be executed pursuant hereto on behalf of Commission are and shall <br />be duly authorized to sign the same .on Commission's behalf and to bind <br />Commission thereto. <br />(d) The Commission has received and reviewed (i) copies of the supporting <br />title documents related to the Commission's title commitment from the <br />Title Company dated September 27, 2006 and described at Commitment <br />No. 5789s06 (the "Title Commitment"); and (ii) those matters set forth in <br />Paragraph 3. <br />6. At Closing, the Company shall provide a title policy in the amount of $400,000.00 <br />from Pinnacle Title Company (the "Title Company") insuring the transfer of the Property, free <br />and clear of all liens, mortgages and encumbrances, other than (i) those Permitted Exceptions set <br />forth at Section 2(c) of Schedule B of the Title Commitment and (ii) the Special Exceptions <br />specifically set forth in Paragraph 3 hereof. The Company shall be responsible for all reasonable <br />C~ <br />
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