Laserfiche WebLink
3 <br />environmental reports and information obtained by the Buyer with respect to the <br />environmental condition of the Real Property. All of such information available to the Seller <br />shall be made available to the Buyer within ten (10) business days of the date of this <br />Agreement, and shall be acceptable to the Buyer, in the Buyer's sole discretion. Buyer shall <br />pay the cost of any additional Environmental reports. <br /> <br />4.5 Document Review. Buyer shall have determined, on or before the <br />Contingency Date, that it is satisfied with its review and analysis of the, Contracts, Permits, <br />Warranties, Plans as described in Section 1, and Records and the Permitted Encumbrances <br />described in Section 10.1.4 of this Agreement. <br /> <br />4.6 Government Approvals. On or before the Contingency Date, Buyer shall be <br />satisfied in Buyer's sole judgment that the Property can comply with all building codes, laws <br />and regulations applicable to the Property whether local, state or federal. Buyer shall also be <br />satisfied on or before the Contingency Date, in its sole judgment, with respect to all zoning <br />laws and regulations with respect to the Property. <br /> <br />4.7 Road and Utilities. Buyer shall be responsible for providing satisfactory <br />access and utility service in order to support Buyer's Use, including without limitation a <br />driveway, water and gas mains, electric power lines and sanitary and storm sewers and (b) <br />all access to and from public road systems necessary to adequately service Buyer's Use, <br />including without limitation, median cuts, curb cuts, changes in road and changes in access <br />points. Seller shall cooperate fully with Buyer to obtain any reasonable utility easements <br />deemed necessary, if any, to provide acceptable utility access to the Property. Doesn’t the <br />owner have to provide these easements to make the property saleable? <br /> <br />4.8 Cell Tower Leases. Buyer acknowledges that two cell towers are present on <br />the Property. The Property needs to accommodate the cell towers in terms of the physical <br />location of the towers and ancillary equipment, access and utility to the towers to be <br />determined by the Buyer in compliance with the terms of the lease documents in place at the <br />time of sale. Furthermore, the Buyer will receive no revenue stream from the leases nor be <br />responsible for any property taxes associated with their existence. The Seller is in the <br />process of finalizing the sale of the leases. Seller will provide Buyer the opportunity to review <br />and comment on the sale documents prior to their execution and will attempt to <br />accommodate any reasonable requests of the Buyer as determined in the Seller’s sole <br />discretion. <br /> <br />4.9 Buyer shall demolish the two buildings located on the 53 South Owasso property <br />within 120 days of closing on the property. Buyer shall also construct a new building on the <br />property of at least 15,000 square feet, subject to zoning approvals. Construction on said <br />new building shall be completed and the building occupied no later than 6/30/2020. Failure <br />to comply with this condition shall result in a $25,000 annual payment to the City for each <br />calendar year until this condition is complied with effective for the 2020 calendar year. <br /> <br />4.10 No Adverse Action. There shall not exist on the Closing Date any lawsuit, <br />zoning change, governmental investigation or other proceeding challenging the transaction <br />contemplated in this Purchase Agreement, or which might adversely affect the right of Buyer <br />to own or use the Property after the Closing Date for Buyer nor shall any such action have <br />been threatened or instituted. <br />The "Contingency Date" shall be the later of Ninety (90) days from the date of full execution <br />of this Agreement or Ninety (90) days after Seller has delivered all of the documents and <br />information which Seller is required to deliver to Buyer hereunder. If any of the contingencies <br />have not been satisfied on or before the stated date, then this Agreement may be terminated, <br />at Buyer's sole and absolute discretion, by written notice from Buyer to Seller. Such notice of