07/23/2007 Council Packet (2) - Laserfiche WebLink

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Further, if any failure to complete work or improvements which are Seller's responsibility herein prevents issuance of any permits or approvals necessary for construction or occupancy of the Subject Property and improvements to be located therein, Seller will provide Purchaser and the City or other applicable governmental authority with security reasonably acceptable to Purchaser and the City or other applicable governmental authority to secure compliance with such requirements. 32. Signs. Upon execution of this Agreement, Seller shall cause all signs on the property to be removed and Purchaser shall have the exclusive right until Closing or the earlier termination of this Agreement to place a marketing sign on the Land, all in accordance with applicable laws and ordinances. 33. Termination of Agreement. In the event of termination of this Agreement without Closing, Seller may, at Seller's option, if exercised in writing within ten (10) days of the date of termination, purchase from Purchaser and, in the event of such exercise, Purchaser shall convey to Seller all of Seller's rights in and to all consultant's reports and surveys and other due diligence material which Purchaser has caused to be prepared in connection with the transaction contemplated hereby (including, but not limited to, surveys and geotechnical, and environmental reports) and Seller shall pay upon deliver of such items Purchaser's actual out -of- pocket cost thereof. Transfer and payment shall occur within thirty (30) days after termination of this Agreement. 34. Anti- Terrorism Representation. a. Seller represents and warrants to Purchaser as follows: 1. Seller is not in violation of any laws relating to terrorism or money laundering ( "Anti- Terrorism Laws "), including Executive Order No. 13224 on Terrorist Financing, effective September 24, 2001 (the "Executive Order "), and • • •