200000293 - Laserfiche WebLink

Browse

.. � � 2000002s3 the Conservancy and Grantor shall each appoint an appraiser to appraise the value of the Property. If these appraisers do not arrive at the same value of the Property and if the appraised values do not differ by more than ten percent (10%) of the lower appraisal, the two appraised values shall be added together and their total divided by two. The resulting quotient shall be the fair market value. If the two appraisals differ by more than ten percent (10%) of the lower appraisal, a third appraisal sha11 be done by another mutually agreed upon appraiser and the average of the three appraisals shall be the appraised value. However, if the low appraisal and/or the high appraisal is/are more than fifteen percent (15%) lower and/or higher than the middle appraisal, the low appraisal and/or the high appraisal shall be disregarded. If only one appraisal is disregarded, the remaining two appraisals shall be added together and their total shall be divided by two; the resulting quorient shall be the fair market value. If both the low appraisal and the high appraisal are disregarded, the middle appraisal shall be the fair market value. 8. CLOSING DATE. Closing will be within thirty (30) days after the date upon which the fair market value of the Property is established as set forth above or as soon thereafter as the conditions for closing set out in this agreement have been met. Closing may be held in escrow through an agent designated by the Conservancy or as otherwise agreed to by the parties. 9. EVIDENCE OF TITLE. Upon exercise of this right of first refusal, the Conservancy will obtain a preliminary title insurance commitment on the Property. The commitment shall be delivered to the Conservancy at least 15 days before closing and shall evidence the Grantor's ability to deliver title at closing as set forth below. The cost of the title insurance commitment and the final policy to be issued at closing shall be the responsibility of the Grantor. 10. TITLE. At closing, Grantor wi11 �onvey good, insurable and marketable title to the Property together with all rights, hereditaments and appurtenances belonging to the Property (including insurable legal access, all mineral rights, all water rights and all government farm program crop bases and contract acres), to the Conservancy in fee simple, free and clear of all liens, encumbrances, restrictions, rights or exceptions except those of record which are acceptable to the Conservancy. 11. TITLE DEFECTS. If for any reason Grantor cannot deliver title at closing as required by this agreement, the Conservancy may elect to: a) accept the Property with title as it is, b) refuse to accept the Property in which case the consideration paid for this agreement shall be refunded, or c) require Grantor to diligently pursue all reasonable - 11 -