2003-04-17_REVISION - M2001090 - Laserfiche WebLink

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(b) Title Insurance. Promptly after the Closing Date, and based upon the Title Commitment described in Pazaaraph 5.3(a), Seller shall provide Purchaser with a title insurance policy ("Title Policy"), issued by the Title Company, in a form customary for similar closings within the State of Colorado, agreeing to guarantee the record title to Parcel 2 to be good and marketable in Purchaser in the amount of the Purchase Price of Pazcei 2 subject only to the exceptions acceptable to Purchaser in accordance with Paragraph 5.3(a) (the "Pemutted Exceptions"). Seller shall pay the cost of the Title Policy at closing, and the Title Policy shall be provided to Purchaser as soon as it becomes available. (c) Possession. Seller shall deliver possession of Parcel 2 to Purchaser on the Closing Date. 3.3 Purchaser's Closine Obligations. At Closing the Purchaser shall cause to be delivered to Seller: (a) Initial Purchase Price Pavment. The portion of the Purchase Price due at Closing pursuant to Paragraph 2.2(a), after accounting for closing adjustments, prorations and costs; and I:iECEIVED APR 17 2003 Division of Minerals and Geology ARTICLE TV. ` PRE-CLOSING RIGHTS TO SUBJECT PROPERTY 4.1 Purchaser's Right of Entrv. During the period from the Effective Date until and including the Closing Date or the date that the Option lapses without exercise by Purchaser, Purchaser shall have the .right, from time to time, at Purchaser's sole cost, expense, risk and hazard, all in such manner as Purchaser may reasonably determine, to enter upon Parcel 2, to make, or cause to be made, inspections and engineering, environmental and other studies, including without limitation, surveying,. conducting test borings and other surface and/or subsurface soil ar groundwater sampling in order to determine reserves, soil conditions, possible environmental impact or potential liability for remediation, cleanup or removal of any hazazdous substances or materials in compliance with environmental laws or regulations, conducting environmental audits of Parcel 2 and any other testing occasioned by the results of such audits and, in general, conducting other soil tests, analyses and studies of Pazcei 2 and any inspections deemed necessary by Purchaser relating to any improvements or fixtures located on Pazcei 2. If any of the activities conducted by Purchaser on Parcel 2 cause damage or injury to Parcel 2 Purchaser -shall restore the property to its original condition or shall compensate Seller for the reasonable value of such damage or injury to the property or assets if for any reason the purchase and sale of Pazcel2 does not close. Purchaser shall not, by its actions, allow any mechanics liens to attach to Parcel 2. If Purchaser deems any matter found by such inspection to be unsatisfactory to Purchaser in its sole discretion, Purchaser may give Seller notice of such matter within sixty (60) days after the Exercise Date. If Seller and Purchaser do not reach agreement as - 6- ~ ~L . f~~f~~ ~, ..y. , . Y1fL`L ~.