R2003-20 AUTHORIZING AGREEMENT - Laserfiche WebLink

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(iii) covers the Property and all easements appurtenant thereto, including all of the easements to be granted to Buyer pursuant to the OEA and identifies the same according to legal descriptions (once the Survey, as defined below, has been obtained,the legal descriptions shall be updated to conform to those certified on the Survey); (iv) contains an effective date subsequent to the date of this Agreement; (v) contains endorsements (unless prohibited by law) insuring. (a) that all of the parcels comprising the Property are contiguous (if the Property is comprised of more than one parcel) , (b) that the Property is contiguous to any real estate containing easements appurtenant thereto, (c) the zoning classification of the Property, (d) that the Property abuts the public street(s) immediately adjacent thereto and has direct and valid access thereto, and (e) other matters as reasonably requested by Buyer. (vi) obligates the Title Company to issue to Buyer a title policy based thereon in an amount equal to the market value of the Property plus, at Buyer's election, the reasonably anticipated costs of the Contemplated Improvements, (vii) includes legible copies of all documents, map and plats set forth therein as affecting the Property and/or the easements appurtenant thereto. Seller hereby agrees to provide to the Title Company any abstracts of title covering the Shopping Center Tract and/or any other form of title evidence it may have obtained, including any attorney's title opinion or any owner's title insurance policy. 9.2 As soon as reasonably practicable after the Effective Date, Seller shall obtain and deliver to Buyer a current survey of the Property(the"Survey")prepared by a surveyor licensed by the state in which the Property is located. The Survey shall be prepared in accordance with the current standards for Land Title Surveys of the American Land Title Association and the American Congress on Surveying and Mapping and shall be certified to Buyer, Seller and the Title Company. The Survey shall set forth the legal description(s)and street address(es)(if any)of the Property and all easements appurtenant thereto and shall include a vicinity map showing the location of major 10 ::O DMA\PCDOCS\N EWARIC�617546\3 February 12,2003