2005-103 Resolution - Laserfiche WebLink

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Conditions of Escrow 2.02. The Conveyance to Buyer, or its nominee, of good and marketable title to said property, by Warranty Deed, is a condition of this transaction. Seller shall provide such title evidenced by an Owners Fee Policy of Title Insurance issued by CHICAGO TITLE COMPANY in the amount of the purchase price, subject only to such liens, encumbrances, restrictions, easements, or conditions as may be approved in writing by Buyer. 2.03 A further condition of this transaction is approval by Buyer's City Council, which shall be evidenced by a duly adopted and attested Ordinance or Resolution authorizing Buyer's Mayor to purchase the Property and execute a contract and all other documents necessary to effectuate the purchase. 2.04 This transaction is further conditioned upon an environmental assessment to be conducted, unless waived by Buyer, at Buyer's expense, prior to closing, disclosing no violations of any state or federal environmental law or regulations. Seller shall provide to Buyer any and all prior environmental reports in Seller's possession. Buyer shall be responsible for all costs of obtaining governmental approvals. From and after execution of this Agreement and until closing, Buyer and Buyer's agents shall have full right of ingress and egress over and through the said property for the purposes of inspection, performing environmental tests, engineering and /or architectural drawings, and other such observations and tests as Buyer may desire, all of which, except as otherwise set forth in this Agreement, shall be at Buyer's expense. Delivery of Possession 2.05. Seller shall deliver possession of said property to Buyer or its nominee, immediately on Closing, free and clear of all uses, tenancies and other occupancies, except as follows. Owner Josephine V. Trentanelli may continue to occupy the Property after Closing, but 2