2627-21 Agreement of Sale - Block 175.13 Lot 3.pdf

4 4835-6376-7510, v. 1 title to the Property, insurable at regular rates by a title insurance company licensed to do business in New Jersey, chosen by Buyer, subject to the restrictions set forth herein. 8. DISCLOSURES AND ACKNOWLEDGMENTS. Buyer acknowledges that it is aware that there are no utilities connected to the Property and that Buyer shall bear the burden to construct and install all necessary utilities and subject to all required permit applications and approvals. Buyer further acknowledges that the approval and execution of this Agreement shall not be deemed an approval for any application for construction or installation of utilities on behalf of the Township. In addition, Buyer acknowledges that it is aware that the Property is currently within a Conservation District pursuant to Section 25, Chapter 26.13 of the Township Municipal Code which limits the use and construction on the Property. Buyer further acknowledges that the approval and execution of this Agreement shall not be deemed a covenant or promise that the Property can be or will be removed from the Conservation District. 9. DEED RESTRICTION AS CONDITION OF SALE. As a condition of Sale, Buyer agrees to the recording of a Deed Restriction that the Property shall not be merged or consolidated with the adjacent lot currently located at Block 175.13, Lot 4 in the form annexed hereto as Exhibit “A.” 10. CLOSING OF TITLE. The Closing shall take place within fourteen (14) days after the Township Council for the Township’s approval of the sale, TIME BEING OF THE ESSENCE (the “Closing Date”), at the offices of McManimon, Scotland and Baumann, LLC, 75 Livingston Avenue, Suite 201, Roseland, New Jersey 07068, or at such other location as may be mutually agreed by the parties, at a time mutually convenient for the parties. 11. TOWNSHIP COUNCIL APPROVAL. The parties' obligations set forth in this Agreement are expressly subject to final approval by the Township Council for the