2007-IDA-16 Tuffli Company Bayport North 2

Browse Search

existing or proposed, abutting, adjacent, used in connection with or pertaining to such real property or the improvements located thereon, (b) any strips or gores of land between such real property and abutting or adjacent properties, and (c) all water and water rights, timber, crops and mineral interests pertaining to such real property. This conveyance is made and accepted expressly subject to (i) Iiens securing payment of ad valorem taxes for the year 2001 and subsequent years, and subsequent assessments for prior years due to change in land usage or ownership, but not those taxes or assessments for prior years because of an exemption granted to a previous owner of the Subject Property under Section 11.13, Texas Tax Code, or because of improvements not assessed for a previous tax year, (ii) building set back lines as shown on the recorded plat of the Subject Property, and zoning laws and ordinances of governmental authorities, to the extent that such matters are presently valid, subsisting and affect the Subject Property, and (iii) all Permitted Exceptions (herein so called), as listed in Exhibit "B" attached hereto and incorporated herein. Ad valorem taxes on the Subject Property for the year 2001 have been or shall be prorated between the parties, and payment of such taxes is assumed by Grantee. Grantee acknowledges and agrees that the sale of the Subject Property is being made "AS -IS, WHERE IS AND WITH ALL FAULTS," without any representations or warranties by Grantor, express, implied or arising by operation of law, except for the special warranty of title set forth herein, and the representations and warranties of Grantor as set forth in Section 17 and other provisions of the Earnest Money Contract dated November 30, 2001 (the "Contract"), between Grantor, as seller, and Grantee, as buyer, which representations and warranties are incorporated herein by reference for all purposes. GRANTOR HEREBY SPECIFICALLY DISCLAIMS ANY WARRANTY, GUARANTY, OR REPRESENTATION CONCERNING (i) THE NATURE AND CONDITION OF THE SUBJECT PROPERTY, INCLUDING, WITHOUT LIMITATION, THE WATER, SOIL, AND GEOLOGY, AND THE SUITABILITY THEREOF, FOR ANY ACTIVITIES AND USES WHICH GRANTEE MAY ELECT TO CONDUCT THEREON, (ii) THE NATURE AND EXTENT OF ANY RIGHT-OF- WAY, ENCUMBRANCE, RESERVATION, CONDITION, OR OTHERWISE, (iii) THE COMPLIANCE OF THE SUBJECT PROPERTY OR THE OPERATION THEREOF '$NTrH ANY LAWS, RULES, ORDINANCES, OR REGULATIONS OF ANY GOVERNMENT OR OTHER BODY, Civ) THE AVAILABILITY (OR LACK THEREOF) OF ANY UTILITIES AT THE SUBJECT PROPERTY (INCLUDING, WITHOUT LIMITATION, WATER, SEWER, GAS, OR ELECTRICITY), (v) ANY ENVIRONMENTAL CONDITIONS OR DEFECTS THAT MAY EXIST ON THE SUBJECT PROPERTY, AND (vi) THE FINANCIAL EARNING CAPACITY OR HISTORY OR EXPENSE HISTORY OF THE OPERATION OF THE SUBJECT PROPERTY. THE CONVEYANCE OF THE SUBJECT PROPERTY IS MADE ON AN "AS -IS" BASIS AND, EXCEPT FOR THE WARRANTY OF TITLE SET FORTH HEREIN AND REPRESENTATIONS AND WARRANTIES INCORPORATED HEREIN FROM THE CONTRACT, GRANTOR MAKES NO WARRANTY OR REPRESENTATION, EXPRESS OR IMPLIED, OR ARISING BY OPERATION OF LAW, INCLUDING, BUT NOT LIMITED TO, ANY WARRANTY OF CONDITION, HABITABILITY, MERCHANTABILITY, OR FITNESS FOR A PARTICULAR PURPOSE OF THE SUBJECT PROPERTY. TO HAVE AND TO HOLD the Subject Property, together with all and singular the rights and appurtenances thereto and in anywise belonging, unto the Grantee and Grantee's successors, legal representatives and assigns forever; and Grantor does by these presents bind Grantor and Grantor's successors and legal representatives to WARRANT and FOREVER DEFEND, all and singular, the Subject Property unto Grantee and Grantee's successors, legal representatives and assigns against every person whomsoever lawfully claiming or to claim the same or any part thereof by, through or under Grantor, but not otherwise.