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07/23/2007 Council Packet (2)
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07/23/2007 Council Packet (2)
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City Council
Council Document Type
Council Packet
Meeting Date
07/23/2007
Council Meeting Type
Regular
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been satisfied) as to land adjacent to the Land on terms and conditions <br />acceptable to Purchaser. <br />Seller shall take all reasonable and appropriate effort to reasonably cooperate with <br />Purchaser to satisfy the conditions above. <br />10. Condition Allowing Termination by Purchaser. If any of the following conditions <br />(which shall be for Purchaser's benefit and may be waived by Purchaser) occur: <br />(a) Purchaser in its sole discretion disapproves, on or before the date <br />ninety (90) days after the date of this Agreement, the condition of the soil, title, <br />survey or environmental issues relating to the Subject Property or its potential <br />found or determined to exist, as deemed appropriate by Purchaser, in respect to <br />the Subject Property whether found during its due diligence effort or otherwise; <br />or Purchaser determines that utilities, including electricity, storm sewer, sanitary <br />sewer, gas and water utilities do not exist or are insufficient in capacity to serve <br />the Proposed Facility and other full build -out of the Subject Property under <br />current zoning relating to the Subject Property; or <br />(b) Purchaser, in its sole discretion, cannot reach agreement with City <br />of other agencies or persons or entities on or before the date ninety (90) days <br />after the date of this Agreement, on the terms and conditions relating to the <br />construction referred to in Paragraph 9(b); or <br />(c) Purchaser fails to obtain all those approvals and confirmations <br />and permits or fails to enter into the agreements described in Subparagraphs <br />9(c), 9(d) and 9(e) hereof on or before the date ninety (90) days after the date of <br />this Agreement; or <br />(d) Seller fails to reconfirm all representations and warranties made <br />by Seller and contained herein as of the Date of Closing, or any of those <br />representations or warranties are found to be untrue on or before the Date of <br />Closing; or <br />(e) Seller is in default under its covenants and agreements herein and <br />Seller continues in default for a period of five (5) days after written notice of <br />such default from Purchaser to Seller; or <br />(f) Purchaser is unable on or before the date ninety (90) days after <br />the date of this Agreement, to obtain an executed purchase agreement for land <br />adjacent to the Land on terms and conditions acceptable to Purchaser and with <br />all contingencies satisfied; <br />• <br />• <br />• <br />
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