Common use of EXCEPTIONS TO CONVEYANCE AND WARRANTY Clause in Contracts

EXCEPTIONS TO CONVEYANCE AND WARRANTY. There is reserved from this conveyance all the oil, gas and other minerals in and under the Property owned by Grantor, if any, which are expressly reserved to Grantor. This conveyance is further subject to all easements, rights-of-way and prescriptive rights, whether of record or not, all presently recorded matters that affect the Property, and those items listed on the attached Exhibit B. hereof a true, correct, and complete copy of the [and all amendments thereto] identifying the person(s) who will be the true owner(s) of the Property on Grantor’s execution and delivery of this deed to Grantee.] Grantor, for the consideration and subject to the Reservations from and Exceptions to Conveyance and Warranty, GRANTS, SELLS and CONVEYS to Grantee the Property, together with, all and singular, the rights and appurtenances thereto in any wise belonging, to have and hold to Grantee, Grantee's [heirs/successors] or assigns forever. Grantor hereby binds Grantor and Grantor's successors to the extent, and only to the extent allowed by the laws and Constitution of the State of Texas, to WARRANT and FOREVER DEFEND, all and singular, the Property to Grantee and Grantee's [heirs/successors] and assigns, against every person whomsoever lawfully claiming or to claim the same or any part thereof, except as to the Reservations from and Exceptions to Conveyance and Warranty, when the claim is by, through or under Grantor, but not otherwise. [If Vendor’s Lien is applicable: The vendor's lien against and superior title to the Property are retained until the Note [insert further description of Note] is fully paid according to its terms, at which time this deed shall become absolute. In consideration of the payment by (“Lender”) of the sum above mentioned, Grantor hereby transfers, assigns and conveys to Lender the vendor's lien and superior title herein retained and reserved against the Property, without warranties and without recourse on Grantor.] GRANTOR CONVEYS THE PROPERTY TO GRANTEE "AS IS, WHERE IS" AND "WITH ANY AND ALL FAULTS." OTHER THAN THE WARRANTY OF TITLE PROVIDED HEREIN, GRANTOR MAKES NO REPRESENTATIONS OR WARRANTY WHATSOEVER, EXPRESS OR IMPLIED, AS TO THE QUALITY OR CONDITION OF THE PROPERTY, MERCHANTABILITY, SUITABILITY OR FITNESS OF THE PROPERTY FOR ANY USE WHATSOEVER, KNOWN OR UNKNOWN TO GRANTOR, OR COMPLIANCE WITH ANY ENVIRONMENTAL PROTECTION, POLLUTION, OR LAND USE LAWS, RULES, REGULATIONS, ORDERS, OR REQUIREMENTS INCLUDING, BUT NOT LIMITED TO, THOSE PERTAINING TO THE HANDLING, GENERATING, TREATING, STORING, OR DISPOSING OF ANY HAZARDOUS WASTE OR SUBSTANCE. IN NO EVENT SHALL GRANTOR BE RESPONSIBLE OR LIABLE FOR LATENT OR PATENT DEFECTS OR FAULTS, IF ANY, IN THE PROPERTY, OR FOR REMEDYING OR REPAIRING THE SAME INCLUDING, WITHOUT LIMITATION, DEFECTS RELATED TO ASBESTOS OR ASBESTOS CONTAINING MATERIALS, UNDERGROUND STORAGE TANKS OR HAZARDOUS OR TOXIC MATERIALS, CHEMICALS OR WASTE, OR FOR CONSTRUCTING OR REPAIRING ANY STREETS, UTILITIES OR OTHER IMPROVEMENTS SHOWN ON ANY PLAT OF THE PROPERTY. BY GRANTEE'S ACCEPTANCE OF THIS CONVEYANCE, GRANTEE WARRANTS THAT GRANTEE HAS FULLY INSPECTED THE PROPERTY, IS FULLY SATISFIED WITH THE SAME IN ALL RESPECTS "AS IS, WHERE IS, WITH ANY AND ALL FAULTS," AND IS NOT RELYING ON ANY REPRESENTATION OR WARRANTY OF GRANTOR OTHER THAN THE WARRANTY OF TITLE PROVIDED HEREIN. GRANTEE, BY ITS ACCEPTANCE OF THIS DEED, ACCEPTS ANY LIABILITIES OR COSTS IN CONNECTION WITH THE CONDITION OF THE PROPERTY, INCLUDING BUT NOT LIMITED TO ANY COSTS OR LIABILITIES PERTAINING TO ANY ENVIRONMENTAL CONDITION ON THE PROPERTY. By [their/Grantee's] acceptance of this conveyance, Grantee[s, jointly and severally,] assume[s] and agree[s] to pay all taxes affecting the Property for 20 and all subsequent years and any and all taxes assessed against the Property due to a change in usage, regardless of the year(s) for which those taxes are assessed. When the context requires, singular nouns and pronouns include the plural. Executed on the date set forth in the acknowledgment line below, to be effective for all purposes as of the Effective Date. BOARD OF REGENTS OF THE UNIVERSITY OF TEXAS SYSTEM, for the use and benefit of THE UNIVERSITY OF TEXAS RIO GRANDE VALLEY STATE OF TEXAS § COUNTY OF ▇▇▇▇▇▇ § By: Name: Title: Executive Director of Real Estate The University of Texas System This instrument was acknowledged before me on the day of , 20 , by , Executive Director of Real Estate, The University of Texas System, for the Board of Regents of The University of Texas System, for the use and benefit of The University of Texas Rio Grande Valley. Notary Public in and for The State of Texas This Disclosure of Information on Lead-Based Paint and/or Lead-Based Paint Hazards ("Disclosure") is attached to and made a part of the Real Estate Contract between the Board of Regents of The University of Texas System, for the use and benefit of The University of Texas at and . Capitalized terms not otherwise defined in this Disclosure have the meanings assigned to them in the Real Estate Contract. This Disclosure is provided in accordance with the requirements of 42 U.S.C. § 4852d and the regulations promulgated thereunder and is to be construed in accordance therewith.

EXCEPTIONS TO CONVEYANCE AND WARRANTY. There is reserved from this conveyance all the oil, gas and other minerals in and under the Property owned by Grantor, if any, which are expressly reserved to Grantor. This conveyance is further subject to all easements, rights-of-way and prescriptive rights, whether of record or not, all presently recorded matters that affect the Property, and those items listed on the attached Exhibit B. hereof a true, correct, and complete copy of the [and all amendments thereto] identifying the person(s) who will be the true owner(s) of the Property on Grantor’s execution and delivery of this deed to Grantee.[ list Permitted Exceptions] Grantor, for the consideration Consideration and subject to the Reservations from Conveyance and the Exceptions to Conveyance and Warranty, GRANTSgrants, SELLS sells and CONVEYS conveys to Grantee the Property, together with, with all and singular, singular the rights and appurtenances thereto in any wise way belonging, to have and to hold it to Grantee, Grantee's [heirs/successors] or Grantee and ▇▇▇▇▇▇▇’s successors and assigns forever. Grantor hereby binds Grantor and Grantor's ▇▇▇▇▇▇▇’s successors and assigns to the extent, warrant and only to the extent allowed by the laws and Constitution of the State of Texas, to WARRANT and FOREVER DEFEND, forever defend all and singular, singular the Property to Grantee and Grantee's [heirs/successors] ▇▇▇▇▇▇▇’s successors and assigns, assigns against every person whomsoever lawfully claiming or to claim the same or any part thereof, except as to the Reservations from Conveyance and the Exceptions to Conveyance and Warranty, when the claim is by, through or under Grantor, Grantor but not otherwise. [If Vendor’s Lien is applicable: The vendor's lien against and superior title to the Property are retained until the Note [insert further description of Note] is fully paid according to its terms, at which time this deed shall become absolute. In consideration of the payment by (“Lender”) of the sum above mentioned, Grantor hereby transfers, assigns and conveys to Lender the vendor's lien and superior title herein retained and reserved against the Property, without warranties and without recourse on Grantor.] GRANTOR CONVEYS THE PROPERTY IS SOLD AND CONVEYED TO AND ACCEPTED BY GRANTEE "AS ISIN ITS PRESENT CONDITION, WHERE IS" AND "WITH ANY AND ALL FAULTS." OTHER THAN THE WARRANTY OF TITLE PROVIDED HEREIN, GRANTOR MAKES NO REPRESENTATIONS OR WARRANTY WHATSOEVER, EXPRESS OR IMPLIED, AS TO THE QUALITY OR CONDITION OF THE PROPERTY, MERCHANTABILITY, SUITABILITY OR FITNESS OF THE PROPERTY FOR ANY USE WHATSOEVER, KNOWN OR UNKNOWN TO GRANTOR, OR COMPLIANCE WITH ANY ENVIRONMENTAL PROTECTION, POLLUTION, OR LAND USE LAWS, RULES, REGULATIONS, ORDERS, OR REQUIREMENTS INCLUDING, BUT NOT LIMITED TO, THOSE PERTAINING TO THE HANDLING, GENERATING, TREATING, STORING, OR DISPOSING OF ANY HAZARDOUS WASTE OR SUBSTANCE. IN NO EVENT SHALL GRANTOR BE RESPONSIBLE OR LIABLE FOR LATENT OR PATENT DEFECTS OR FAULTS, IF ANY, IN THE PROPERTY, OR FOR REMEDYING OR REPAIRING THE SAME INCLUDING, WITHOUT LIMITATION, DEFECTS RELATED TO ASBESTOS OR ASBESTOS CONTAINING MATERIALS, UNDERGROUND STORAGE TANKS OR HAZARDOUS OR TOXIC MATERIALS, CHEMICALS OR WASTE, OR FOR CONSTRUCTING OR REPAIRING ANY STREETS, UTILITIES OR OTHER IMPROVEMENTS SHOWN ON ANY PLAT OF THE PROPERTY. BY GRANTEE'S ACCEPTANCE OF THIS CONVEYANCE, GRANTEE WARRANTS THAT GRANTEE HAS FULLY INSPECTED THE PROPERTY, IS FULLY SATISFIED WITH THE SAME IN ALL RESPECTS "AS IS, WHERE IS, WITH ALL FAULTS AND WITHOUT ANY AND ALL FAULTS," AND IS NOT RELYING ON ANY REPRESENTATION REPRESENTATIONS OR WARRANTY OF GRANTOR WARRANTIES WHATSOEVER, EXPRESS OR IMPLIED, OTHER THAN THE LIMITED SPECIAL WARRANTY OF TITLE PROVIDED INCLUDED HEREIN, AND GRANTEE EXPRESSLY ACKNOWLEDGES THAT THE SALES PRICE REFLECTS SUCH CONDITION. WITHOUT LIMITING THE GENERALITY OF THE FOREGOING, EXCEPT FOR THE LIMITED SPECIAL WARRANTY OF TITLE INCLUDED HEREIN, AND THE LIMITED WARRANTIES AND REPRESENTATIONS CONTAINED IN THE CONTRACT OF SALE AND PURCHASE BY AND BETWEEN GRANTOR AND GRANTEE, BY ITS ACCEPTANCE THE SALE OF THIS DEEDTHE PROPERTY IS WITHOUT ANY EXPRESS OR IMPLIED WARRANTY, ACCEPTS ANY LIABILITIES REPRESENTATION, AGREEMENT, STATEMENT OR COSTS IN CONNECTION EXPRESSION OF OPINION (OR LACK THEREOF) OF OR WITH RESPECT TO: (I) THE CONDITION OF THE PROPERTYPROPERTY OR ANY ASPECT THEREOF, INCLUDING BUT NOT LIMITED INCLUDING, WITHOUT LIMITATION, ANY AND ALL EXPRESS OR IMPLIED REPRESENTATIONS OR WARRANTIES RELATED TO ANY COSTS SUITABILITY FOR HABITATION, MERCHANTABILITY OR LIABILITIES PERTAINING TO ANY ENVIRONMENTAL CONDITION ON THE PROPERTY. By [their/Grantee's] acceptance of this conveyance, Grantee[s, jointly and severally,] assume[s] and agree[s] to pay all taxes affecting the Property for 20 and all subsequent years and any and all taxes assessed against the Property due to a change in usage, regardless of the year(s) for which those taxes are assessed. When the context requires, singular nouns and pronouns include the plural. Executed on the date set forth in the acknowledgment line below, to be effective for all purposes as of the Effective Date. BOARD OF REGENTS OF THE UNIVERSITY OF TEXAS SYSTEM, for the use and benefit of THE UNIVERSITY OF TEXAS RIO GRANDE VALLEY STATE OF TEXAS § COUNTY OF ▇▇▇▇▇▇ § By: Name: Title: Executive Director of Real Estate The University of Texas System This instrument was acknowledged before me on the day of , 20 , by , Executive Director of Real Estate, The University of Texas System, for the Board of Regents of The University of Texas System, for the use and benefit of The University of Texas Rio Grande Valley. Notary Public in and for The State of Texas This Disclosure of Information on Lead-Based Paint and/or Lead-Based Paint Hazards ("Disclosure") is attached to and made a part of the Real Estate Contract between the Board of Regents of The University of Texas System, for the use and benefit of The University of Texas at and . Capitalized terms not otherwise defined in this Disclosure have the meanings assigned to them in the Real Estate Contract. This Disclosure is provided in accordance with the requirements of 42 U.S.C. § 4852d and the regulations promulgated thereunder and is to be construed in accordance therewith.FITNESS FOR A PARTICULAR USE OR PURPOSE;