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2008-297
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2008-297
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Last modified
4/11/2016 1:38:03 PM
Creation date
10/1/2015 12:37:26 AM
Metadata
Fields
Template:
Official Documents
Official Document Type
Agreement
Approved Date
09/16/2008
Control Number
2008-297
Agenda Item Number
13.A.
Entity Name
Del Lago Inc.
Subject
Developer's Agreement Race Trac Right of Way
Area
CR 512 between 108th Avenue and 107th Ct.
Supplemental fields
SmeadsoftID
7580
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5 . Drainage . Drainage related to the County's right-of-way improvements along 108`n <br /> Avenue, and along County Road 512 , if applicable, will be satisfied on County-maintained <br /> property , and will not be on land of the Developer. <br /> 6 . Title . Developer shall convey marketable title to the ROW Property by special warranty <br /> deed free of claims , liens , easements and encumbrances of record or known to Developer; but <br /> subject to property taxes for the year of Closing and covenants , restrictions and public utility <br /> easements of record provided (a) there exists at Closing no violation of any of the foregoing ; <br /> and (b) none of the foregoing prevents County's intended use and development of the ROW <br /> Property (" Permitted Exceptions") . County shall take title to the ROW Property " as-is , where is <br /> with all faults" as of the time of recording of the warranty deed to County, except for the <br /> representations and warranties of Developer set forth in this Agreement, the warranty deed , and <br /> in the closing documents . <br /> 6 . 1 Within thirty (30) days after the Effective Date of this Agreement Developer shall deliver <br /> to County a Title Insurance Commitment with respect to the ROW Property with coverage in the <br /> amount of $ 2 000 . 00 . Title insurance will be provided by 1 ' American and will be issued <br /> by Developer' s attorney. County shall have fifteen ( 15) days following receipt of the <br /> commitment to deliver written notice to Developer of title defects . Title shall be deemed <br /> acceptable to County if (a) County fails to deliver notice of defects within the time specified , or <br /> (b) County delivers notice and Developer cures the defects within thirty (30) days from receipt of <br /> notice from County of title defects ("Curative Period") . Developer shall undertake a good faith <br /> effort, but without any obligation to expend more than $ 1 , 000 in such effort, to cure the defects <br /> within the Curative Period and if the title defects are not cured within the Curative Period , <br /> County shall have thirty (30) days from the end of the Curative Period to elect , by written notice <br /> to Developer, to : (i) terminate this Agreement, whereupon it shall be of no further force and <br /> effect, or (ii) accept title subject to existing defects and proceed to closing . <br /> 7 . Representations of the Developer. <br /> 7 . 1 Developer is the contract purchaser of the ROW Property, and has authority to contract <br /> to convey and transfer the ROW Property which is the subject matter of this Agreement , free <br /> and clear of all liens and encumbrances . <br /> 7 . 2 From and after the Effective Date of this Agreement , Developer shall take no action <br /> which would impair or otherwise affect title to any portion of the ROW Property, and shall record <br /> no documents in the Public Records which would affect title to the ROW Property, without the <br /> prior written consent of the County. <br /> 7 . 3 To Developer' s knowledge and belief without investigation , there are no existing or <br /> pending special assessments affecting the ROW Property , which are or may be assessed by <br /> any governmental authority, water or sewer authority, school district, drainage district or any <br /> other special taxing district. <br /> 8 . Default. <br /> 8 . 1 In the event the County shall fail to perform any of its obligations hereunder, the <br /> Developer shall , at Developer's sole option , be entitled to : (i ) terminate this Agreement by <br /> written notice delivered to the County prior to the Closing Date and thereupon neither the <br /> Developer nor any other person or party shall have any claim for specific performance , <br /> 2 <br />
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