08-14-1996 Council Agenda - Laserfiche WebLink

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(a) Owner will have marketable title to the Property free and clear of all Liens and leasehold interests placed thereon by Owner, except those liens which will be satisfied on the Date of Closing. (b) Owner has not entered into any agreements or arrangements other than this Agreement for the sale and disposition of the Property, or granted any right to purchase the Property, or mortgaged, pledged or subjected to lien charge or other incumbrance any of the Property. (c) To the best of the Owner's knowledge, the Property is not subject to any regulation, restriction or covenants which would prohibit development and use of the Property. (d) Owner has no obligations to any third parties involved in the Property that Buyer would be obligated to assume, except those which have been previously disclosed in writing to Buyer by the Owner. (e) That they have full power and authority to enter into and perform the terms of this Agreement. 14. Environmental. Owner shall allow Buyer the right to investigate and test the Property at its expense for any contamination or presence of hazardous substances or pollution regulated by any federal, state or local law, statute, ordinance or rule. If Buyer determines in its absolute discretion that such substance exists on or under the Property, this Agreement will be null and void at the option of the Buyer. The Buyer will notify Owner of such discovery in writing, and may terminate this Agreement at any time prior to the Date of Closing. Owner represents and warrants that he has done nothing to cause any hazardous substance or pollution to occur on or under the Property and to the best of his knowledge, no such substances affect the Property and no part of the Property was ever used for any industrial or manufacturing purposes or as a dump. Owner has not received any written notice from any federal, state or local authority having jurisdiction over the property of any violations of law, regulation, ordinance or code affecting the Property. If Owner receives such notice, he will immediately deliver to the Buyer such notice prior to the Date of Closing. Owner shall defend, indemnify and hold harmless the Buyer, and any or all of Buyer's affiliates, officers, employees, contractors, agents or assigns from and against any and all claims, demands, suits, losses, liabilities and enforcement actions or penalties resulting from, growing out of, or incidental to the discovery, clean up or enforcement actions relating to pollution or hazardous substances which existed on or under the Property prior to the Date of Closing. 15. Waiver of Relocation. Owner agrees that 110 persons or personal property will be displaced or relocated as a result of any purchase by the Buyer. Owner waives any rights he may have under the Uniform Relocation Act of 1970, and the regulations adopted pursuant thereto by the United States Department of Housing and Urban Development, and any applicable Minnesota law relating to relocation. 0143160.02 Page 35