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c4.7 Buyer shall have been able to obtain financing for the project on terms and <br /> onditions acceptable to Buyer in its sole discretion. <br /> 4.8 Buyer shall have entered into binding purchase agreements with the owners of <br /> certain adjacent property and can simultaneously close on the purchase of the Property and said adjacent <br /> parcels. <br /> 4.9 Buyer shall have agreed to the form of quit claim deed to be given by the Seller, <br /> which quit claim deed, Buyer agrees, shall contain restrictions which run with the land which prohibit <br /> the use of the Property as an adult bookstore, adult movie theater, or massage parlor in each case whose <br /> business is the sale, rental or promotion of sexually explicit material acts or entertainment and to which <br /> admission is restricted due to age. <br /> 4.10 In the event Buyer fails to receive approval of the development of the Property at <br /> a public hearing, this Agreement may be terminated by either Seller or Buyer. <br /> Seller shall cooperate with Buyer in accomplishing the conditions precedent <br /> contained in this Section 4, including but not limited to Seller's providing or obtaining any relevant <br /> information, certifications or applications, investigating the history of the Property and executing <br /> documents but said cooperation is not intended to apply to matters before the City of Mounds View. <br /> Buyer agrees to provide copies of all relevant information and reports that Buyer obtains during its <br /> ili• spection period other than information regarding potential tenants and users of the Property or financial <br /> r proprietary information about Buyer. Seller shall provide copies of soil tests, compaction tests and <br /> any other engineering reports applicable to development on the Subject Property. In the event Buyer <br /> terminates this Agreement within the Review Period or any extension thereof, Buyer agrees to reimburse <br /> Seller for any third party out-of-pocket expenses incurred by Seller (including reasonable attorneys' fees <br /> and disbursements) in reviewing and approving this Purchase Agreement, including negotiation and <br /> preparation of any documentation necessary under Sections 4.9 or 6. This shall not require Buyer to <br /> reimburse Seller for such costs incurred by the city in conducting its review of the project or approvals <br /> in Section 4 hereof. <br /> 5. SELLER'S WARRANTIES AND COVENANTS. <br /> 5.1 Seller has not received (a) any written notice from any state or local authority <br /> having jurisdiction over the Property of any violation of any law, regulation, ordinance or code affecting <br /> the Property, or (b) any written notice of any liabilities or threatened litigation or anticipated <br /> condemnation with respect to any part of the Property. <br /> 5.2 To the best of Seller's knowledge which knowledge for purposes hereof is limited <br /> to the actual knowledge of Catherine Capone Bennett without additional inquiry and except as indicated <br /> in the Phase I provided to Buyer by Seller (a) there does not exist, in or under the Property, any <br /> contaminant, pollutant, toxic, or hazardous waste, the release of disposal of which is regulated by any <br /> w, regulation, ordinance or code, including, but not limited to asbestos, PCB's, urea formaldehyde, and <br /> it products (collectively "Contaminants"), (b) the Property has not been used as a sanitary landfill, <br /> -4- <br />