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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 /> supporting documentation. All tenant security deposits shall be transferred to Buyer by Seller at <br /> Closing. <br /> 11. Assignment of Service Contracts. Prior to the end of the Due Diligence Period, <br /> Buyer shall notify Seller in writing which Service Contracts must be cancelled at or prior to <br /> Closing and which Service Contracts are to be assigned to Buyer at Closing. Prior to Closing, <br /> Seller shall cancel and terminate each of the Service Contracts designated in Buyer's notice as <br /> Service Contracts to be cancelled, at no cost, expense or liability to Buyer. <br /> 12. Representations and Warranties of Seller. Seller represents and warrants to Buyer <br /> as follows: <br /> (a) To Seller's actual knowledge without inquiry or investigation, there are no <br /> wells or septic systems on the Property. <br /> (b) To Seller's actual knowledge without inquiry or investigation, no above <br /> ground or underground storage tanks are located in, on or about the <br /> Property. <br /> (c) No action in condemnation, eminent domain or public taking proceedings <br /> are now pending or, to Seller's actual knowledge without inquiry or <br /> investigation, threatened or contemplated against the Property. <br /> (d) No real property tax or special assessment with respect to the Property is <br /> delinquent, and Seller has received no notice of any pending special <br /> assessment with respect to the Property. Seller has no knowledge of any <br /> planned improvements which may result in assessments against the <br /> Property. <br /> (e) To Seller's actual knowledge without inquiry or investigation, there is no <br /> suit, action, arbitration, or legal, administrative or other proceeding or <br /> governmental investigation, formal or informal, pending or threatened <br /> which if determined adversely would affect the Property in a material <br /> manner or Seller's ability to perform its obligations hereunder. <br /> (f) Payment has been made for all labor or materials, which have been <br /> furnished to the Property by Seller within 120 days before the Closing <br /> Date, or such payment will be made prior to the Closing Date so that no <br /> lien for such labor or materials can be asserted against the Property. <br /> (g) Seller has received no notices of any violation of applicable building, <br /> zoning, health or safety laws, ordinances or regulations with respect to the <br /> Property, which are still outstanding. Seller has no actual knowledge of <br /> any condition in the Property which could result in any such violation. <br /> (h) Seller is the only party in possession of any portion of the Property and <br /> has full power and authority to enter into this Purchase Agreement, to <br /> perform this Purchase Agreement and to consummate the transactions <br /> contemplated hereby. <br /> (i) Seller is not a foreign person, foreign partnership, foreign trust or foreign <br /> estate as those terms as defined in Section 1445 of the Internal Revenue <br /> Code. <br /> 4 <br />
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