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v.Management Plan
<br /> Grantee shall,at no cost and expense to the State,create a management plan in conjunction with Owner
<br /> and the State that is acceptable to and approved by the State.Grantee shall deliver the Management Plan
<br /> to the State within six(6)months of Closing.
<br /> vi.Reports
<br /> Grantee shall,at no cost and expense to the State,cause qualified professionals to prepare a baseline
<br /> report documenting the condition of the Property at the time of Closing,a geologist's remoteness report
<br /> if needed, and a phase I environmental assessment,and should the State deem them necessary,any
<br /> additional environmental assessments on all or part of the Property if reasonably necessary to protect the
<br /> interests of the State.Such reports shall be acceptable to and approved by the State.After Closing,
<br /> Grantee shall,at its sole cost and expense,create an annual report detailing its monitoring of the
<br /> Easement,and provide a copy of such report to the State within 30 days of the completion thereof.
<br /> C. Title Inspection and Review
<br /> The State's satisfaction with the title to the Property after the opportunity for physical inspection of the
<br /> Property and after reviewing the documents and evidence of title thereto provided for in this§9.C.If any of
<br /> the State's objections made pursuant to this provision are not rectified,then the State may terminate this
<br /> Grant by written notice and both Grantee and the State shall be released from any further obligations.
<br /> i.Evidence of Title—Matters of Public Record
<br /> As soon as practicable,Grantee shall obtain,without cost or expense to the State,a Title Commitment.
<br /> Grantee shall also deliver to the State copies of any abstracts of title covering all or any portion of the
<br /> Property in Grantee's possession.
<br /> ii.Standard Title Exceptions
<br /> Grantee shall require Owner to provide a Mechanic's Lien Indemnification Agreement and meet all other
<br /> requirements for the deletion of or insuring over standard exceptions for mechanic's liens and defects,
<br /> liens,encumbrances,adverse claims or other matters,if any are created,first appearing in the public
<br /> records or attaching subsequent to the effective date of the Title Commitment of Schedule B-II of the
<br /> Title Commitment.Grantee shall require Owner to cause the Title Commitment to delete or insure over
<br /> the standard exceptions regarding unpaid taxes,assessments,and unredeemed tax sales prior to the year
<br /> of Closing.If the Grantee or the State determines that one or more of the following items must be deleted
<br /> in the title insurance policy,then Grantee shall require Owner to cause the Title Commitment to delete or
<br /> insure over the standard exceptions re g ardi n g
<br /> (a)p arties in possession,(b)unrecorded easements,and(c)
<br /> survey matters.
<br /> iii.Exceptions-Title Review-Matters of Public Record
<br /> Grantee,without cost or expense to the State,shall promptly cause a copy of the Title Commitment
<br /> together with the following documents to be delivered to the State:(a)copies of all plats,declarations,
<br /> covenants,conditions,and restrictions burdening the Property,and(b)copies of other documents(or,if
<br /> illegible,summaries of such documents)listed in the Additional Exceptions of Schedule B-II of the Title
<br /> Commitment.
<br /> iv.Title Review and Inspection-Matters Not Shown by the Public Records
<br /> Grantee shall require Owner to deliver to Grantee and the State true copies of all lease(s),survey(s),and
<br /> other similar documentary information in Owner's possession pertaining to the Property,and shall
<br /> require Owner to disclose in writing to Grantee and the State all easements,liens,or other title matters
<br /> not shown by the public record of which Owner has actual knowledge.The State and Grantee shall have
<br /> the right to inspect the Property to determine if any third party has any right in the Property not shown by
<br /> the public records(such as an unrecorded easement,unrecorded lease,or boundary line discrepancy).
<br /> v.Unrecorded Burdens—Grantee's Liability
<br /> Grantee shall,at no cost to the State,cause Owner to discharge and/or cure any liens,charges,defects,
<br /> encumbrances,claims,or causes of action(hereinafter called"burdens")existing on or before Closing
<br /> and incurred by Grantee or Owner that attach to the Property which are not of record at the time of
<br /> Closing and which were not disclosed pursuant to§1.A.iv9.C(iv).Grantee shall reimburse the State in an
<br /> amount equal to CWCB's proportionate contribution to Purchase Price of any diminution in value of the
<br /> Easement if any such burden cannot be discharged or cured.The State may bring an action to enforce
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