Nmisc Sample Agreement Of Purchase And Sale
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20NMISC SAMPLE CONTRACT
AGREEMENT OF PURCHASE AND SALE
THIS AGREEMENT OF PURCHASE AND SALE (“Agreement”) is made as of this ____ day
of __________________, 200__, by and between ______________________________
(“Seller(s)”) and the NEW MEXICO INTERSTATE STREAM COMMISSION ("Purchaser").
W I T N E S S E T H:
In consideration of and in reliance upon the covenants herein contained, and for other good
and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the
parties agree as follows:
ARTICLE ONE
INTRODUCTORY MATTERS
1.01
In General. The Seller is the owner of the Property (as defined herein) and the
Purchaser is desirous of acquiring the same in accordance with the terms and conditions of this
Agreement.
1.02
Agreement to Purchase and Sell. Purchaser agrees to purchase from Seller, and
Seller agrees to sell and convey to Purchaser, the Property, subject to and in accordance with the
terms and conditions set forth herein.
1.03
Definitions. As used herein, and subject to the foregoing provisions of this Article
One, the following words shall have the meanings ascribed:
“Closing” means the consummation of the transaction contemplated herein, which shall
occur at the offices of the Title Company or its successor if any, or if no successor, then such other
title company as Purchaser may designate.
“Closing date” means the date set forth in Section 6.01.
“Improvements” means the buildings and all other improvements, structures, fixtures,
equipment, in, on, over or under the Premises, including but not limited to the electrical and utility
systems (except to the extent owned by a utility company), to the extent owned, in whole or in part,
by Seller, located at, on, or affixed to the Premises, to the full extent such items constitute or are or
can be construed as realty under the laws of the State of New Mexico.
“Partial Final Decree” means the proposed partial final decree filed with the court in State of
New Mexico ex. rel. State Engineer v. L.T. Lewis, et. al., Nos. 20294 and 22600 on March 25, 2003
by the Pecos Valley Artesian Conservancy District, the Carlsbad Irrigation District, the United
States, and the State of New Mexico as an attachment to their joint motion for entry of a partial final
decree.
“Permitted Exceptions” means exceptions for general real estate taxes not yet due and
payable and the specific exceptions set forth in Exhibit A attached hereto.
“Personalty” means all equipment, machinery, supplies and other personal property owned
by Seller and any interest in any such property leased by Seller presently located in and used in
connection with the ownership or management of the Improvements or the Premises, as such items
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