OF THIS AGREEMENT.
1.6
CLOSING DELIVERIES OF BH INVESTOR.
At the Closing, BH Investor shall deliver to Transferors the following, which
shall be in a form reasonably satisfactory to Transferors:
6
(A)
THE BH INVESTOR CLOSING CERTIFICATE.
(B)
A CERTIFICATE OF THE SECRETARY OF BH INVESTOR CERTIFYING TRUE AND
CORRECT COPIES OF THE REQUIRED RESOLUTIONS OF BH INVESTOR DULY AUTHORIZING THE
EXECUTION, DELIVERY AND PERFORMANCE OF THIS AGREEMENT AND ALL RELATED DOCUMENTS
AND AGREEMENTS, SUCH RESOLUTIONS BEING IN FULL FORCE AND EFFECT AS OF THE
CLOSING DATE AND SUCH OTHER EVIDENCE AS TRANSFEREE, TRANSFERORS OR THE TITLE
COMPANY SHALL REASONABLY REQUIRE TO EVIDENCE THE AUTHORITY OF BH INVESTOR
(C)
EXECUTED COUNTERPARTS TO THE DOCUMENT SET FORTH IN SECTION 1.5(C)
ABOVE.
(D)
SUCH OTHER INSTRUMENTS AND DOCUMENTS AS ARE REASONABLY REQUESTED
BY TRANSFERORS AND/OR TITLE COMPANY TO CARRY OUT AND EFFECT THE PURPOSE AND
INTENT OF THIS AGREEMENT.
1.7
TITLE AND SURVEY.
(A)
COMMITMENT FOR TITLE INSURANCE.
TRANSFEROR SHALL DELIVER TO BH
INVESTOR AND THE SURVEYOR DESCRIBED IN SECTION 1.8(B) BELOW (A) A CURRENT TITLE
COMMITMENT (THE "TITLE COMMITMENT") COVERING THE PROJECT, SHOWING ALL MATTERS
AFFECTING TITLE TO THE PROJECT AND BINDING REPUBLIC TITLE OF TEXAS, INC., 2626
HOWELL STREET, 10TH FLOOR, DALLAS, TEXAS 75204, ATTN: JEANNE RAGLAND (THE "TITLE
COMPANY") TO ISSUE AT CLOSING AN OWNER'S POLICY OF TITLE INSURANCE, ON THE FORM
CUSTOMARILY USED IN THE AREA IN WHICH THE PROJECT IS LOCATED, IN THE FULL AMOUNT
OF THE APPRAISED VALUE OF THE, AND (B) LEGIBLE COPIES OF ALL INSTRUMENTS (THE
"EXCEPTION INSTRUMENTS") REFERENCED IN THE TITLE COMMITMENT.
(B)
SURVEY.
TRANSFERORS SHALL, AT TRANSFERORS' EXPENSE, FURNISH TO BH
INVESTOR A CURRENT SURVEY (THE "SURVEY") OF THE PROJECT PREPARED BY A REPUTABLE
AND DULY LICENSED SURVEYOR OR SURVEYING FIRM WHICH (A) LOCATES ALL EASEMENTS
(WHETHER OF RECORD OR APPARENT FROM AN INSPECTION OF THE PROJECT) AND
RIGHTS-OF-WAY ON OR ADJACENT TO THE PROJECT (IDENTIFIED BY RECORDING DATA, IF
APPLICABLE), (B) SHOWS THE IMPROVEMENTS SITUATED ON THE LAND AND THE DIMENSIONS
OF ALL BUILDINGS THEREON, (C) SHOW THE LOCATION AND SIZE OF ALL STREETS
(EXISTING OR PROPOSED) ON OR ADJACENT TO THE PROJECT, (D) SHOWS ANY
ENCROACHMENTS OR PROTRUSIONS, RAILROADS, RIVERS, CREEKS, OR OTHER WATER COURSES,
FENCES, UTILITIES (INCLUDING SIZE AND LOCATION), AND OTHER MATTERS LOCATED ON OR
AFFECTING THE PROJECT (AND ANY RECORDING INFORMATION RELATING THERETO), (E) SETS
FORTH THE NUMBER OF SQUARE FEET COMPRISING THE PROJECT, TOGETHER WITH A LEGAL
DESCRIPTION OF THE BOUNDARIES OF THE PROJECT BY METES AND BOUNDS; (F) CERTIFIES
THAT THE LAND DOES NOT LIE WITHIN THE 100-YEAR FLOOD PLAIN AS ESTABLISHED BY THE
U.S. ARMY CORPS OF ENGINEERS, (G) CONTAINS A CERTIFICATION BY THE SURVEYOR IN
THE FORM OF EXHIBIT J ATTACHED HERETO, AND (H) IN GENERAL, COMPLIES WITH THE
STANDARDS FOR AN AMERICAN LAND TITLE ASSOCIATION SURVEY.
(C)
OBLIGATION TO CURE LIENS.
NOTWITHSTANDING ANYTHING TO THE
CONTRARY CONTAINED IN THIS ARTICLE 1.7, IF AT CLOSING THERE ARE ANY MONEY LIENS
AGAINST ALL OR ANY PART OF THE PROJECT, TRANSFERORS SHALL CAUSE THE