01-24-2007 Additions - Laserfiche WebLink

Home Browse Search

Property. (f) Underground Storage Tanks. Seller shall have, at Seller's cost and expense, removed all underground storage tanks from the Property in the manner required by the Minnesota Pollution Control Agency, including any cleanup or remediation required by said agency, and shall have obtained a closing letter therefore from the Minnesota Pollution Control Agency. (g) Acquisition of Other Properties and Approvals. (i) Acquisition of the entire property located at 2250 Rice Street that is currently occupied by Oasis Market. (ii) Acquisition of property from 2260 Rice Street to facilitate the relocation of Viking Drive whereby a connection with Minnesota Avenue is created using the easterly 60 feet of the property at 2260 Rice Street. Determination of the adequacy of said acquisition is at Buyer's sole discretion. (iii)Design of a satisfactory street alignment that relocates Viking Drive to Minnesota Avenue as determined in Buyer's sole discretion, and subject to any required approvals from the Minnesota Department of Transportation and Ramsey County Public Works. If any such contingency has not been satisfied on or before the Closing Date, then this Agreement may be terminated, at Buyer's option, by written notice from Buyer to Seller. Such notice of termination may be given at any time on or before the Closing Date. Upon such termination, neither party will have any further rights or obligations regarding this Agreement or the Property, all Earnest Money will be returned to Buyer, and the parties shall execute a written cancellation of this Agreement. All of 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. 3 7