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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 /> (j) Seller has not received any written notice that any licenses, permits, <br /> consents, orders, authorizations or other approvals required for the <br /> ownership, use or operation of the Property must be issued by the <br /> appropriate authority to make the operation of the Property lawful. <br /> (k) Seller is not aware of any methamphetamine production that has occurred <br /> on the Property. <br /> (1) There are no outstanding rights of first refusal, rights of reverter or options <br /> to purchase, or similar rights or claims relating to the Property or any <br /> interest therein. <br /> (m) Seller has not (a) made a general assignment for the benefit of creditors, <br /> (b) filed any voluntary petition in bankruptcy or suffered the filing of an <br /> involuntary petition by Seller's creditors, (c) suffered the appointment of a <br /> receiver to take possession of all or substantially all of Seller's assets, <br /> (d) suffered the attachment or other judicial seizure of all, or substantially <br /> all, of Seller's assets, (e) admitted in writing its inability to pay its debts as <br /> they come due, or (f) made an offer of settlement, extension or <br /> composition to its creditors generally. <br /> (n) Except as disclosed during diligence, to Seller's actual knowledge, there <br /> are no material defects in the structural elements of the Property. <br /> The representations and warranties set forth in this section shall be continuing and shall be true <br /> and correct as of the date hereof and as of the Closing Date with the same force and effect as if <br /> made at that time and all such representations and warranties shall survive Closing for a period <br /> of twelve months. Seller shall immediately notify Buyer, in writing, of any event or condition <br /> known to Seller which occurs prior to the Closing Date which causes a material adverse change <br /> in the facts relating to, or the truth of, any of the representations or warranties. If Seller notifies <br /> Buyer of a material adverse change, then Buyer may, at Buyer's option and as Buyer's sole <br /> remedy (Buyer specifically waiving any right to bring any action against Seller for damages <br /> arising therefrom), either: (x)terminate this Agreement by notice in writing to Seller, in which <br /> event the Earnest Money shall be returned by Buyer and the parties shall have no further <br /> obligations under this Agreement; or (y)waive the same and proceed to a Closing without any <br /> abatement of the purchase price. Seller agrees to indemnify, defend and hold Buyer harmless <br /> from and against, and to reimburse Buyer with respect to any and all claims, demands, causes of <br /> action, loss, damage, liabilities and costs (including attorneys fees and court costs) asserted <br /> against Buyer by third parties or incurred by Buyer by reason of or arising out of the breach of <br /> any representation or warranty as set forth in this section. <br /> 13. Title Evidence. Within 7 days after the Effective Date, Seller shall, at Seller's <br /> cost and expense: (A) cause Title Company to provide to Buyer a title report or commitment for <br /> the issuance of an owner's policy of title insurance in the full amount of the purchase price with <br /> respect to the Real Property (the "Title Commitment"); (B) deliver to Buyer a copy of any <br /> existing surveys or plats of the Real Property in Seller's possession or control, (collectively, the <br /> "Title Evidence"), together with copies of all encumbrances and exceptions to title disclosed <br /> thereby. The Title Commitment shall show Buyer as the proposed insured thereunder and shall <br /> show Seller as owner of the Real Property, subject to any exceptions so disclosed and shall <br /> 5 <br />
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