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Agenda Packets - 2025/11/10
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Agenda Packets - 2025/11/10
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Last modified
11/14/2025 6:03:16 PM
Creation date
11/13/2025 3:01:08 PM
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MV Commission Documents
Commission Name
City Council
Commission Doc Type
Agenda Packets
MEETINGDATE
11/10/2025
Description
Regular Meeting
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Authentisign ID:92CCDA7D-4AA5-F011-8E61-002248330C80 <br /> (e) Copies of all service contracts, plans, warranties, guaranties, and other <br /> agreements applicable to the Property, if any, which extends beyond the <br /> Closing Date (the "Service Contracts"). A list of the Service Contracts is <br /> attached hereto as Exhibit B. <br /> (f) A copy of any surveys and environmental reports regarding the Property <br /> that are in Seller's possession or control including old Phase 1 and Phase 2 <br /> reports. <br /> (g) Historical (two years)utility statements for the Property, if applicable. <br /> (h) Copies of all permits, licenses, warranties, and/or guaranties relating to the <br /> operation of the Property (as opposed to the operation of the prior <br /> Tenant's business at the Real Property). <br /> (i) Inspection reports with regard to the Property, if any, in Seller's <br /> possession or control. <br /> (j) Copies of any existing certificates of occupancy, if any, for the Property in <br /> Seller's possession. <br /> (k) Copies of title documents, instruments, maps, files, correspondence and <br /> other materials related to the Property. <br /> 6. Contingencies. Buyer's obligation to close on the transaction contemplated under <br /> this Purchase Agreement is contingent upon the following (collectively, the "Contingencies"): <br /> (i) Buyer satisfying itself with regard to the physical condition of the Property and environmental <br /> status/reports of the Property; (ii) Buyer's satisfaction and approval of title and survey pursuant <br /> to Section 13 below; (iii) Buyer's receipt of, and satisfaction with all of the terms of, a written <br /> commitment of financing from Buyer's chosen lender; and (iv) Buyer's receipt of, and <br /> satisfaction of document review of the items stated in Section 5 above. The following <br /> contingencies shall be completed within 45 days after the receipt of all of the items stated in <br /> Section 5 above ("Due Diligence Period"). Buyer may waive these contingencies at its sole <br /> discretion and proceed under the terms of this Purchase Agreement or alternatively if not waived, <br /> Buyer may cancel this Purchase Agreement during the Due Diligence Period, and receive a full <br /> refund of Earnest Money. Neither party will have any further rights nor obligations thereunder, <br /> except those provisions that expressly survive termination. In the event Buyer does not elect to <br /> terminate this Purchase Agreement by such date, the Earnest Money shall become non- <br /> refundable, except for Seller's breach or default under this Purchase Agreement, a failure of a <br /> representation or warranty by Seller to be true and correct in all material respects as of Closing, <br /> or condemnation of, or damage to, the Property as contemplated in Section 15 (Damage) and <br /> Section 16 (Eminent Domain) below. The Earnest Money shall be applied to the purchase price <br /> if the Closing occurs. <br /> 7. Access to Property. After the Effective Date through the Closing, Seller shall <br /> allow Buyer and its agents, representatives and advisors access to the Property, upon no less than <br /> I business day written notice to Seller, for the purpose of conducting non-invasive investigations <br /> of the physical condition of the Property, as Buyer deems necessary or advisable. Buyer shall <br /> indemnify, defend and hold harmless Seller from and against any physical damages caused by <br /> Buyer's or its agents', contractors' or representatives' entry onto the Property. Buyer shall <br /> promptly repair any damage or disturbance to the Property resulting from Buyer inspections, and <br /> 2 <br />
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