Laserfiche WebLink
thereof Rinker, at its expense, shall deliver to City and the Title Company a current ALTA <br /> survey of Lots 45-A, 45-B, 45-C, 45-D and 45-E prepared by a licensed land surveyor <br /> ("Survey"). City shall conduct its review of the Title Commitment and Survey in accordance <br /> with the following procedures: <br /> (c) City's Notice. Within twenty(20) days after City's receipt of the Title <br /> Commitment and Survey, City shall notify Rinker of its approval or disapproval of each <br /> exception in the Title Commitment and/or matters revealed by the Survey. Failure to deliver <br /> such notice shall constitute City's approval of all exceptions in the Title Commitment and the <br /> Survey. Exceptions or Survey matters not disapproved.by City shall be Permitted Exceptions. <br /> (d) Rinker's Response. Rinker shall have thirty(30) days after receipt of <br /> City's notification in which to notify City that it will cure or remove prior to Transfer any of the <br /> disapproved exceptions or Survey matters. Rinker's failure to so notify City shall constitute <br /> Rinker's commitment to remove any such exceptions or Survey matters prior to Transfer in <br /> accordance with the City's notice. <br /> (e) City's Election. If Rinker does notify the City that it will not remove all <br /> exceptions or Survey matters timely disapproved by City,then City may elect to exercise its <br /> remedies under Section 1.12 of this Agreement by written notice to Rinker. If City does not so <br /> elect to exercise such remedies,then disapproved exceptions or survey matters that Rinker has <br /> not committed to remove shall become Permitted Exceptions. <br /> (1) New Exceptions. The notice and response procedure of this Section shall <br /> be repeated for any title exceptions first appearing after City's receipt of the Title Commitment. <br /> 2004 Revised Development Agreement <br /> 12 <br /> 8/23/2005 <br />