05-28-1997 Council Agenda - Laserfiche WebLink

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payable to Seller under the terms of lease(s) (Lease No.) fully prepaid refund or adjustment of same to be made on and as of the date of Closing. If a lease inci • e only partially located within the Property being purchased, the refund, if applicable, sha • = • ..ortioned for that part of said lease site within the Property. Cancellation of said lease shal • - • .. t e date of conveyance of Property. 21. Leases Other er -- Lease(s) (Lease No.), being in the name of other than Buyer, s . : .r.signed to Buyer upon date of conveyance of the Property and will be subject to apportionment 22. Complete Agreement -- This Agreement contains the entire Agreement between Seller and Buyer with respect to the Property and, except as set forth in this Agreement, neither Seller, nor Seller's agents or employees, have made any agreements, covenants, warranties or representations of any kind or character, express or implied, oral or written, with respect to the Property. ADDENDUM PROVISIONS 23. This Agreement relates only to land. Unless otherwise herein provided, any conveyance shall exclude Seller's railroad tracks and appurtenances thereto, Seller's buildings and any other improvements on the Property, all of which may be removed by Seller within 90 days following conveyance of the Property, and if not removed, shall be deemed abandoned by Seller without obligation on Seller's part and shall thereafter be and become the Property of Buyer in place. 24. Seller shall reserve ownership of all coal, oil, gas, casing -head gas and all ores and minerals of every kind and nature, excepting sand and gravel, underlying the surface of the Property, together with the full right, privilege and license at any and all times to explore, or drill for and to protect, conserve, mine, take, remove and market any and all such products in any manner which will not damage structures on the surface of the Property, together with the right of access at all times to exercise these rights. 25. Seller is not a foreign person as the term is used and defined in Section 1445 of the Internal Revenue Code of 1954, as amended and the regulations promulgated thereunder. Seller, upon request of Buyer, shall complete an affidavit to this effect and deliver it to Buyer on or before closing of said sale. 26. It is specifically agreed and understood by the parties hereto that Buyer, before July 1, 1997, shall accept and sign this Real Estate Purchase and Sale Agreement and return same together with the $8,500.00 deposit named herein to Seller. Failure of Buyer to perform within this time restriction will render this Agreement null and void in its entirety. 27. Buyer has/have been allowed to make an inspection of the property and has knowledge as to the past use of the property. Based upon this inspection and knowledge, Buyer is /are aware of the condition of the property and Buyer IS /ARE AWARE THAT BUYER IS /ARE PURCHASING THE PROPERTY IN AN "AS -IS WITH ALL FAULTS" BASIS WITH ANY AND ALL PATENT AND LATENT DEFECTS AND THAT BUYER IS /ARE NOT RELYING ON ANY REPRESENTATION OR WARRANTIES, EXPRESS OR IMPLIED, OF ANY KIND WHATSOEVER FROM SELLER AS TO ANY MATTERS CONCERNING Page 86