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09-22-1999 Council Agenda
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09-22-1999 Council Agenda
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(1) (2) Undertake proceedings to correct the objections to tile. <br />b. Rescission of this Purchase Agreement by notice as provided herein, in which <br />case the Purchase Agreement shall be void and all earnest money paid hereunder <br />shall be refunded to Buyer. <br />c. Damagrr from Seller together with costs and reasonable attorneys' fees, a,r <br />permitted by law. <br />d. Specific performance within six months after such right of action arises. <br />If title is marketable, or is made marketable as provided herein, and Seller defaults in any <br />of the agreements herein, Buyer may, as permitted by law: <br />a. Seek damagos from Seller including costs and reasonable attorneys' fees. <br />b. Seek specific performance within six months after such right of action arises. <br />15. Contingencies and Conditions Precedent. This Agreement shall be subject to the <br />following contingencies or conditions precedent: <br />a. Document Delivery and Review Contingency. Within five (5) fifteen (15) days <br />after full execution of this Purchase Agreement, Seller shall provide to Purchaser <br />the following documents and information: <br />(1) Copies of any written notices received from any governmental agency or <br />authority relating to the Property, other than from the City of Little Canada. <br />(2) Copies of all service contracts relating to the operation of the Property. <br />b: Environmental Investigation. Purchaser shall have the right to obtain any <br />necessary a Phase I Environmental Evaluation and soils investigation by parties <br />acceptable to Purchaser. The cost of such investigation shall be paid by <br />Purchaser. ' <br />investigation. The part performir gany uch study shall provide anyregort(s)Cto <br />Selleti ;and Purchaser Purchaser shall obtain such report(s) wWithin thirty (30) <br />days after receipt of such report(s)-, to Purchaser may terminate this Agreement if <br />the report(s) reveals a material condition affecting the property which is <br />unacceptable to the Purchaser in the Purchaser's sole discretion. Purchaser shall <br />make arrangements for such investigation. Should the Purchaser desire in their <br />sole discretion that a Phase II Environmental Evaluation and Soil Investigation is <br />Page 109 <br />
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