Laserfiche WebLink
City of Tukwila My WebLink |HelpSearch Tips |About |Sign Out
2. TITLE: <br />2.1 Conveyance by Easement: At closing, Seller will execute and deliver to Buyer the <br />Easement conveying the Easement subject to all encumbrances of record as of the closing date <br />(collectively, "Permitted Exceptions <br />2.2 Title Insurance: At closing, Buyer shall receive (at Buyer's expense) an owner's <br />Standard ALTA policy of title insurance, dated as of the closing date and insuring Buyer in the <br />amount of the Purchase Price against loss or damage by reason of defect in Buyer's title to the <br />Easement subject only to the printed exclusions appearing in the policy fonn and the Peimitted <br />Exceptions. <br />3. CONTINGENCIES: <br />3.1 The sale of the Property is contingent on receipt of grant funding and /or appropriation <br />by the Board of Supervisors of the King County Flood Control Zone District of funds <br />sufficient to close the sale. In the event this contingency is not satisfied and /or the closing <br />does not occur on or before the Outside Closing Date, then this Agreement shall terminate and <br />all originals thereof (including the originals of the Easement) shall be returned to the <br />respective parties (or destroyed by the Closing Agent if such documents are signed by both <br />parties) and thereafter neither party shall have any further rights or obligations under either <br />this Agreement or the Easement. <br />4. REPRESENTATIONS, WARRANTIES AND COVENANTS: Seller represents, <br />warrants and covenants to the Buyer at the date of execution of this Agreement and the date of <br />closing that: <br />4.1 Authority: Each party hereton, and the person signing on behalf of such party, has full <br />power and authority to execute this Agreement and perform such party's obligations, and if such <br />party is a corporation, all necessary corporate action to authorize this transaction has been taken; <br />4.2 No Leases: Seller has not entered into any leases affecting the Easement area; <br />4.3 Fees and Commissions: Each party shall pay for any broker's or other commissions or <br />fees incurred by such party in connection with the sale of the Easement and such party shall <br />indemnify and hold the other parties harmless from all such claims for commission and/or fees, <br />and <br />Wells Fargo /Tukwila/King County Final 2 6/29/2010 <br />