04-11-2018 Council Packet - Laserfiche WebLink

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3 laws and regulations with respect to the Property. 4.7 Road and Utilities. Buyer shall be responsible for providing satisfactory access and utility service in order to support Buyer's Use, including without limitation a driveway, water and gas mains, electric power lines and sanitary and storm sewers and (b) all access to and from public road systems necessary to adequately service Buyer's Use, including without limitation, median cuts, curb cuts, changes in road and changes in access points. Seller shall cooperate fully with Buyer to obtain any reasonable utility easements deemed necessary, if any, to provide acceptable utility access to the Property. 4.8 Cell Tower Leases. Buyer acknowledges that two cell towers are present on the Property. The Property needs to accommodate the cell towers in terms of the physical location of the towers and ancillary equipment, access and utility to the towers to be determined by the Buyer in compliance with the terms of the lease documents in place at the time of sale. Furthermore, the Buyer will receive no revenue stream from the leases nor be responsible for any property taxes associated with their existence. The Seller is in the process of finalizing the sale of the leases. Seller will provide Buyer the opportunity to review and comment on the sale documents prior to their execution and will attempt to accommodate any reasonable requests of the Buyer as determined in the Seller’s sole discretion 4.9 No Adverse Action. There shall not exist on the Closing Date any lawsuit, zoning change, governmental investigation or other proceeding challenging the transaction contemplated in this Purchase Agreement, or which might adversely affect the right of Buyer to own or use the Property after the Closing Date for Buyer nor shall any such action have been threatened or instituted. The "Contingency Date" shall be the later of Ninety (90) days from the date of full execution of this Agreement or Ninety (90) days after Seller has delivered all of the documents and information which Seller is required to deliver to Buyer hereunder. If any of the contingencies have not been satisfied on or before the stated date, then this Agreement may be terminated, at Buyer's sole and absolute discretion, by written notice from Buyer to Seller. Such notice of termination may be given at any time prior to the Contingency Date. If Buyer does not provide Seller with written notice of the failure of any contingency prior to the Contingency Date, said contingency shall be deemed waived and the parties shall proceed to consummate the Closing. Upon such termination, (a) Buyer and Seller shall execute a recordable written termination of this Agreement, which shall include Buyer's quit claim of any interest in and to the Property, (b) the Earnest Money and any interest accrued thereon shall be released to Buyer, and upon such return, neither party will have any further rights or obligations regarding this Agreement or the Property. All the contingencies set forth in this Agreement are specifically stated and agreed to be for the sole and exclusive benefit of the Buyer and the Buyer shall have the right to unilaterally waive any contingency by written notice to Seller. 5. Buyer's Access and Investigation. Seller shall allow Buyer, and Buyer's agents, access to the Property without charge and at all reasonable times for the purpose of Buyer's investigation and testing the same. Buyer shall pay all costs and expenses of such investigation and testing and shall indemnify and hold Seller and the property harmless from all costs and liabilities relating to Buyer's activities. Buyer shall further promptly repair and restore any damage to the Property caused by or occurring during Buyer's testing and return the Real Property and/or Personal Property to substantially the same condition as existed prior to such entry.