Laserfiche WebLink
SEC <br />APR 17 20D3 <br />Division of Minerals and Geolo <br />copies of the amended applications to Seller before submission to the applicable perrt~i!`tting <br />authority and Seller agrees to join in the amended applications so long as they aze generally <br />consistent with the applications made under the Prior Lease. Purchaser shall pay all costs <br />associated with obtaining the Required Permits. Seller will support Purchaser's efforts to obtain <br />the Required Permits in all respects and will appear at any hearing on the Required Permits or <br />any other permits or authorizations if Purchaser so requests. <br />Seller agrees that Purchaser may apply for and prosecute Required Permits for Parcel 2 <br />under the Option granted by this Agreement without first exercising that Option. Seller <br />understands that it may be desirable to amend the applications for the Required Permits for <br />Parcel 1 so as to cover both Parcel 1 and all or part of Parcel 2. Seller agrees to support <br />Purchaser's efforts to amend or revise the Required Permits to include al] or part of Pazce12 <br />If any Required Permit is denied (or is granted only on conditions that in Purchaser's sole <br />good faith determination aze unacceptable for its operations), Purchaser may terminate this <br />Agreement by notice to Seller. Upon such termination, neither party shall have any further <br />obligation to the other, except that Purchaser shall supply Seller with an appropriate release if so <br />requested. <br />5.2 Other Conditions to Closine. The following additional obligations of Seller and other <br />conditions must occur or be complied with as a condition for Purchaser to be obligated to close <br />the purchase and sale of Pazce12. <br />(a) Title Commitment. Immediately after the Exercise Date, a preliminary <br />title commitment along with a certificate of taxes due for Parcel 2 ("Title Commitment") shall be <br />ordered from the Title Company by Seller and Seller shall deliver a copy of the Title <br />Commitment to Purchaser upon its receipt. The Title Commitment shall commit to insure over <br />or delete the standard exceptions related to mechanics liens and survey matters (including <br />encroachments, unrecorded easements, boundary discrepancies, shortage of area, possession by <br />others and the like). Legible copies of all instruments referenced or giving rise to exceptions or <br />requirements in the Title Commitment ("Title Documents") shall also be supplied to Purchaser <br />within 30 days after the Exercise Date Date, Within 30 days after receipt by Purchaser of the <br />Title Commitment and the Iast of the Title Documents required hereunder (or within 10 days <br />afrer any required Title Document is received by Purchaser, if later), Purchaser shall notify Seller <br />and the Title Company of any restrictions, reservations, limitations, easements, liens, and/or <br />conditions of record (together collectively called "Title Defects") disclosed in the Title <br />Commitment which are objectionable to Purchaser. Should Purchaser,so notify Seller of any <br />such Title Defects; Seller shall have until Closing to cure or remove the Title Defects. If <br />Purchaser fails to notify Seller of any such Title Defects within the 30 day period set forth <br />herein, all such defects shall be deemed to be waived by Purchaser and shall then be included <br />within the Permitted Exceptions upon the expiration of such 30 day period. If no closing shall <br />occur due to default of Purchaser, Purchaser shall reimburse Seller for any and all costs of <br />securing a Title Commitment. <br />- 8- <br />~~r ,1 <br />YL~1-~~ <br />rf~r~i /~'~. <br />