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09-10-2014 Council Agenda
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09-10-2014 Council Agenda
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(a) Representations and Warranties. The representations <br />and warranties of Seller contained in this Agreement <br />must be true now and on the Closing Date as if made on <br />the Closing Date. <br />(b) Title. Title to the Property shall be acceptable to <br />Buyer in Buyer's sole discretion, in accordance with <br />the requirements and terms of Section 6 below. <br />(c) Performance of Seller's Obligations. Seller shall have <br />performed all of the obligations required to be <br />performed by Seller under this Agreement, as and when <br />required by this Agreement. Included within the <br />obligations of Seller under this Agreement shall be the <br />following: <br />(i) Seller shall allow Buyer, and Buyer's agents, <br />access to the Property without charge and at all <br />reasonable times for the purpose of Buyer's <br />investigation and testing of the same. Buyer <br />shall pay all costs and expenses of such <br />investigation and testing. <br />(ii) Seller shall execute such applications, covenants, <br />plat or other documents as may be reasonably <br />required by Buyer in order to make use of the <br />Property which Buyer intends. <br />(d) Testing. Buyer shall have determined, in its sole <br />discretion, on or before the Closing Date, that it is <br />satisfied with the results of and matters disclosed by <br />soil tests, well tests, engineering inspections, <br />hazardous waste and environmental reviews of the <br />Property, all such tests, inspections and reviews to be <br />obtained at Buyer's sole cost and expense. <br />(f) Underground Storage Tanks. Seller shall have, at <br />Seller's cost and expense, removed all underground <br />storage tanks, if any, from the Property in the manner <br />required by the Minnesota Pollution Control Agency, <br />including any cleanup or .remediation required by said <br />agency, and shall have obtained a closing letter <br />therefore from the Minnesota Pollution Control Agency. <br />If any such contingency has not been satisfied on or before the <br />Closing Date, then this Agreement may be terminated,(we don't <br />really want to terminate) at Buyer's option, by written notice <br />from Buyer to Seller. Such notice of termination may be given at <br />2 <br />3 <br />
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