Laserfiche WebLink
FAVOR AT THE TIME OF EXECUTING THE RELEASE <br />AND THAT, IF KNOWN BY HIM OR HER WOULD HAVE <br />MATERIALLY AFFECTED HIS OR HER SETTLEMENT <br />WITH THE DEBTOR OR RELEASED PARTY." <br />Les 's Initials <br />Notwithstanding anything to the contrary herein, the foregoing releases in Section <br />69.10 and this Section 69.11 are not intended to and do not cover (i) any claims <br />arising from a breach by Lessor of any Lessor's obligations under this Lease, or <br />(iii) any gross negligence, willful misconduct or fraud committed by Lessor. <br />69.12. Permissible Title Exceptions. Upon the Close of Purchase Option Escrow, Lessor shall <br />convey the Premises to Lessee by a grant deed (the "Grant Deed"). The Grant Deed shall <br />be subject only to the following (collectively, the "Permitted Exceptions"): <br />a) Current Matters of Record. Those matters of record identified on the attached <br />Exhibit A. <br />b) Lease. This Lease. <br />c) Future Non -Monetary Exceptions. All monetary and non -monetary <br />encumbrances placed against the Premises or which may appear of record after <br />the date hereof as the result of any action or inaction of Lessee (including any <br />monetary encumbrances appearing of record as a result of any action or inaction <br />by Lessee during the Purchase Option Term). <br />d) Taxes. Non -delinquent general, special and supplemental real property taxes and <br />assessments; provided however, all delinquent taxes and assessments relating to <br />the period following the Commencement Date of the Lease are the responsibility <br />of Lessee pursuant to this Lease and shall be paid by Lessee at Closing. <br />e) Printed Exceptions. Matters shown as printed exceptions in the standard form of <br />Owner's Policy of Title Insurance. <br />Title Insurance. Lessor shall cause to be delivered to Lessee upon the Close of Purchase <br />Option Escrow, an ALTA standard coverage owner's policy of title insurance on the <br />Premises issued by Escrow Holder with policy limits equal to the Purchase Price and <br />insuring title to the Premises in the condition set forth above and otherwise vested in <br />Lessee. Lessee shall have the right to request issuance of an ALTA extended coverage <br />owner's policy of title insurance and any endorsements it may require, but the Closing <br />shall not be delayed or conditioned on the issuance of same. Lessee shall obtain, at its <br />sole cost and expense, any survey required to obtain any such extended coverage Title <br />insurance, and the obtaining or failure to obtain any such survey shall not delay the <br />Closing. <br />69.13. Additional Closing Documents. As part of the Closing, the parties shall execute and <br />deliver the following additional documents to the Escrow Holder: <br />a) Lessor and Lessee shall execute and deliver an Assignment and Assumption of <br />Lease; <br />15 <br />12311947.1/48581-00004 <br />