PROJC01666 - Laserfiche WebLink

Home Browse Search

~. ;. . , 2 a. Seller shall allow Purchaser a period of 20 days from the date of this Agreement, to investigate the water to be conveyed hereunder. Purchaser may commission, at its own expense, an engineering report, attorney opinion, or any other study it deems necessary. Seller shall cooperate in furnishing any information which Seller may have with respect to the water and shall grant Purchaser the right to enter upon the historically irrigated property. b. Said 20 day inspection period shall expire at midnight on November 26, 1998. Prior to that time, Purchaser may terminate this Agreement by written notice given pursuant to paragraph 11 of the Agreement and all .earnest money shall be returned to Purchaser. Upon expiration of the 20 day period described above, the Agreement shall become a contract between Seller and Purchaser and shall inure to the benefit of the heirs, successors, and assigns of the parties. If after the 20 day period has expired, Purchaser does not perform its obligations under this Agreement, Seller may retain the earnest money described in paragraph 2 of the Agreement and may elect to pursue damages and/or specific performance. 4. Seller warrants that title to the water will be conveyed free and clear of all liens, prior or preemptive rights to purchase, encumbrances and assessments, leases or other pending sales agreements or "first rights of refusal". Seller has paid current year's assessment (1998). 5. If Purchaser desires to file an application with a court of competent jurisdiction for the change of the water, the Seller covenants that it will cooperate with Purchaser, is agents, representatives and assigns, for no additional consideration, in establishing information relevant to the historical use of the subject water, including the execution of appropriate affidavits and/or the furnishing of testimony in appropriate administrative or judicial proceedings with respect to said water. However, Purchaser agrees to reimburse Seller for any out-of-pocket expenses incurred in obtaining or giving such testimony or other information. Seller further covenants and agrees that it will nei ther challenge nor oppose any such water court application filed by or on behalf of the Purchaser for the above-described change of water.