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<br /> I
<br /> . Corrigan in exchange for Parcel 1 , Said Parcel 1 and Parcel 2 to be conveyed
<br /> with any and all improvements, structures , fixtures and appurtenances
<br /> thereto, unless specifically excluded herein, on the terms and conditions
<br /> stated below,
<br /> NOW, THEREFORE , in consideration of the premises and of the
<br /> mutual covenants hereinafter contained, and other good and valuable
<br /> consideration, the parties hereto , each intending to be legally bound, do
<br /> hereby warrant and agree as follows :
<br /> I . The Exchange - The Property. Corrigan and the District agree to
<br /> exchange, on the terms and conditions herein set forth, the Property, in fee
<br /> simple, together with all of the tenements , hereditaments, improvements, oil,
<br /> gas and mineral rights, levees, dikes, canals, ditches, roads and easements,
<br /> appertaining thereto, and all of the respective parties' right, title and interest
<br /> therein. The instrument of conveyance shall transfer all of the respective
<br /> parties right, title and interest in and to the Property and their interest in
<br /> and to all riparian rights , improvements, approvals , fixtures, easements,
<br /> rights-of-way, licenses , privileges, tenements and appurtenances belonging or
<br /> appertaining to the Property, including without limitation of the foregoing,
<br /> all right, title and interest of each party, in and to any land lying in the bed
<br /> of any street, alley, road or avenue (before or after vacation thereof, and
<br /> whether previously abandoned or vacated or hereafter abandoned or
<br /> vacated).
<br /> 2. Survey and Legal Description
<br /> (A) The District previously has or will obtain surveys of the Property
<br /> in a form acceptable to both parties to consummate the transactions
<br /> contemplated herein, The District shall provide Corrigan with copies of the
<br /> recently obtained surveys within ten ( 10 ) business days following the
<br /> effective date of this Agreement .
<br /> (B) Notwithstanding any provisions below to the contrary, the parties
<br /> agree that both Corrigan and the District have previously received and been
<br /> provided surveys for the Property under previously contemplated
<br /> transactions, and the parties agree to be reasonable in their review of the
<br /> new or recertified survey, if determined necessary by either party, and not
<br /> object to matters shown thereon unless same are new matters of record that
<br /> did not appear on the prior surveys,
<br /> (C) Each party shall have ten (10) business days from receipt/delivery
<br /> of the survey required in Paragraph 2(A), within which to examine the
<br /> survey and legal description provided pursuant to this Paragraph and to
<br /> notify Seller if the survey and legal description set forth therein are
<br /> acceptable, or if the survey shows any violation of the survey instructions or
<br /> requirements or if the survey shows any encroachments or a violation of the
<br /> Contract Covenants (hereinafter referred to as "Survey Objections") ,
<br /> (D) The survey and legal descriptions shall be certified to the
<br /> District, Corrigan , the District's and Corrigan's Counsel and the title
<br /> 2
<br /> 444
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