02-23-2000 Council Agenda - Laserfiche WebLink

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d. Specific performance within six months after such right of action arises. If title is marketable, or is made marketable as provided herein, and Seller defaults in any of the agreements herein, Buyer may, as permitted by law: a. Seek damages from Seller including costs and reasonable attorneys' fees. b. Seek specific performance within six months after such right of action arises. 15. Contingencies and Conditions Precedent. This Agreement shall be subject to the following contingencies or conditions precedent: a. Document Delivery and Review Contingency. Within fifteen (15) days after full execution of this Purchase Agreement, Seller shall provide to Purchaser the following documents and information: (1) Copies of any written notices received from any governmental agency or authority relating to the Property, other than from the City of Little Canada. (2) Copies of all service contracts relating to the operation of the Property. b. Environmental Investigation. Purchaser shall have the right to obtain any necessary Environmental Evaluation and soils investigation by parties acceptable to Purchaser. The cost of such investigation shall be paid by Purchaser. The party performing any such study shall provide any report(s) to Seller and Purchaser. Within thirty (30) days after receipt of such report(s), Purchaser may terminate this Agreement if the report(s) reveals a material condition affecting the property which is unacceptable to the Purchaser in the Purchaser's sole discretion. c. City Approvals. The Purchase Agreement and the obligations of the Purchaser hereunder shall be contingent upon Purchaser's or its assigns ability to obtain the required governmental approvals for the subject property. Said government approvals shall include, but are not limited to zoning, Ramsey/Washington Metro Watershed District, filling, grading, excavation and utilities. In the event that such governmental approvals are not obtained within one hundred twenty (120) days of the date of full execution of this Agreement, Purchaser shall have the right to terminate this Purchase Agreement by providing written notice to Seller within the one hundred twenty (120) day period. In the event that this Purchase Agreement is terminated pursuant to any of the foregoing contingencies and conditions precedent, all earnest money, together with accrued interest, if any, shall be promptly refunded to the Purchaser and Purchaser shall execute a termination statement or quit claims deed upon the request of Seller or Seller's agent. Page 105