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BRISTOL CENTER PROPERTIES, LLC (2)
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BRISTOL CENTER PROPERTIES, LLC (2)
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Last modified
11/18/2024 2:40:53 PM
Creation date
11/18/2024 2:40:53 PM
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Contracts
Company Name
BRISTOL CENTER PROPERTIES, LLC
Contract #
A-2024-167
Agency
Public Works
Council Approval Date
10/15/2024
Notes
PERM
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3.3.1 Conditions Precedent to Buyer Obligation to <br /> Close. Buyer's obligation to close Escrow and purchase the Property is <br /> expressly conditioned on the satisfaction of the conditions listed in this <br /> Seaton 3.3.1. If any such condition is not satisfied or waived by Buyer at or <br /> prior to the dose ofEscrow,for any reason other than a default by Buyer,Buyer <br /> may,in its sole discretion end without limiting any of Buyer's legal remedies or <br /> • <br /> • edies under this Agreement,terminate this Agreement by written notice to <br /> Seller. <br /> (1) Title Polley. Escrow }folder has issued or fs inevooably <br /> committed to issue to Buyer the"litle Polley"(as defined in section 3.6 below)showing fee title <br /> vested in Buyer subject only to"Permitted Exceptions"(as defined in Section 3. .below). <br /> (2) Jtepresentations and Warranties. Each of Seller's <br /> representations and warranties in this Agreement are materially true and accurate as of the Close <br /> ofEscrow. <br /> (3) Seller Obligations. Seller is not in material delimit underthis <br /> Agreement and each material obligation of Seller to be perforated prior to the Close of Escrow, <br /> has been pertimmed as required, including, without limitation the delivery of all documents <br /> required of Seller under this Agreement. <br /> (4) Possession: Seller is able,at the Close of Escrow to deliver <br /> exclusive possession ofthe Property to Buyer in accordance with this Agreement and dees.so. <br /> 3.3.2 Conditions Precedent to Seller Obligation to <br /> Close. Seller's obligation to close Escrow and sell the Property.is expressly <br /> conditioned upon the satisfaction of the conditions listed inthis ecti , If <br /> any such condition is not satisfied or waived by Seller prior to a Close of <br /> Escrow for any reason other than a default by Seller, Seller may, in its sole <br /> discretion andwithout limiting any ofSeller"s legal remedies orremedies under <br /> this Agreement,combats this Agreement bywritten notice to Buyer. <br /> (1) itepresentgtions and Warranties. Bach of Buyer's <br /> representations and warranties set forth in this Agreement are materially true and accurate as of <br /> the Close of Escrow. <br /> (2) )3uver"s Obligations. Buyer is not in material default under <br /> this Agreement,and each material obligation ofBuyertc beperfonnedprior to the Close ofEscrow <br /> hereunder has been performed as required. <br /> 3.4 Escrow Cancellation. <br /> 3.4.1 Charges. <br /> (1) Seller's Default. If Escrow fails to close due to Setter's <br /> defeplt,Seller shall pay all Escrow cancellation charges. "Escrow cancellation charges"means <br /> all fees,charges and expenses charged or passed on to the Parties by EscrowHolder,including all <br /> «3. <br />
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