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09-22-1999 Council Agenda
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09-22-1999 Council Agenda
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b. Such other and further documents, instruments and certificates, not inconsistent <br />with the provisions of this agreement, executed by Purchaser that Seller shall <br />reasonably require to carry out and effectuate the purposes and terms of this <br />Agreement. <br />9. Closing Costs. Purchaser shall pay costs associated with closing except for the <br />following: Title insurance should Seller not deliver an owner's duplicate or current abstract, <br />State deed tax, conservation fee, well certificate recording, and any fees associated with <br />recording satisfactions or releases relating to transactions occurring prior to the date of this <br />Purchase Agreement, and special assessment searches. <br />10. Special Assessments. All special assessments levied as of the date of closing shall be <br />paid by Seller. Purchaser will assume all pending assessments. <br />11. Real Estate Tax Proration. Seller shall pay all delinquent real estate taxes including <br />penalties and interest. Real estate taxes payable in 1999 shall be paid prorated as of the date of <br />closing on a daily basis based upon the calendar year. Real estate taxes payable in 2000 shall be <br />the obligation of the Purchaser. <br />12. Hazardous Substances. <br />a. Seller's Representations. Warranties and Covenants. Seller represents, warrants <br />and covenants the following: <br />(1) To the best of Seller's knowledge, the Property does not presently contain <br />and is free from all hazardous substances and/or wastes, toxic and <br />nontoxic pollutants and contaminants, including but not limited to <br />petroleum products and asbestos ( "Hazardous Substances "). <br />(2) To the best of Seller's lcnowiedge, the Property has not in the past been <br />used for the storage, manufacture or sale of Hazardous Substances or for <br />any activity involving Hazardous Substances, except in accordance with <br />applicable laws, rules and regulations. <br />(3) To the best of Seller's knowledge and except as disclosed in the <br />Assessment, no Hazardous Substances are located in the vicinity of the <br />Property. <br />(4) Seller shall not store, manufacture, use or sell any Hazardous Substances <br />on or in the Property prior to closing, except in accordance with applicable <br />laws, rules, and regulations. <br />Page 95 <br />
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