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01-10-2007 Additions
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01-10-2007 Additions
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11/9/2011 1:04:15 PM
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before the Closing Date, that it is satisfied with its <br />review and analysis of the Title Evidence to the <br />Property. <br />(f) Underground Storage Tanks. Seller shall have, at <br />Seller's cost and expense, removed all underground <br />storage tanks from the Property in the manner required <br />by the Minnesota Pollution Control Agency, including <br />any cleanup or remediation required by said agency, and <br />shall have obtained a closing letter therefore from the <br />Minnesota Pollution Control Agency. Seller shall be <br />allowed to escrow funds sufficient to complete tank <br />removal and remediation, if any, if tanks are not <br />removed by the closing date. The amount of the escrow <br />shall be 150% of the estimate for the full completion <br />of tank removal and remediation as prepared by a <br />qualified environmental engineer. However, tanks shall <br />be removed by Seller by no later than thirty (30) days <br />from the date of closing. Escrowed funds shall not be <br />released until the receipt of the closing letter from <br />the Minnesota Pollution Control Agency. <br />(g) Acquisition of Other Properties and Approvals. <br />a. Acquisition of property from 2260 Rice Street to <br />facilitate the relocation of Viking Drive whereby a <br />connection with Minnesota Avenue is created using the <br />easterly 60 feet of the property at 2260 Rice Street. <br />Determination of the adequacy of said acquisition is <br />at Buyer's sole discretion. Acquisition shall deemed <br />completed when the owner of 2260 Rice Street has <br />signed a "Transfer Agreement" governing the exchange <br />of property needed to create right -of -way for the <br />relocation of Viking Drive. <br />b. Design of a satisfactory street alignment that <br />relocates Viking Drive to Minnesota Avenue as <br />determined in Buyer's sole discretion, and subject to <br />any required approvals from the Minnesota Department <br />of Transportation and Ramsey County Public Works. <br />If any such contingency has not been satisfied on or before the <br />3 <br />- 1 0 - <br />
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