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HRA PACKET 09142021
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HRA PACKET 09142021
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9/9/2021 4:25:18 PM
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5 <br />4839-8767-9929\3 <br />any negligence or other wrongful act or omission by Bremer, its agents, employees or <br />contractors in exercising its rights under this Section 10 to enter onto the HRA Parcel. HRA <br />agrees to indemnify and hold Bremer harmless from any and all liability, claims, causes of <br />action, damages, charges, costs and other expenses, including without limitation reasonable <br />attorney’s fees, paid, incurred or asserted against Bremer based on or caused by any <br />negligence or other wrongful act or omission by HRA, its agents, employees or contractors <br />in exercising its rights under this Section 10 to enter onto the Bremer Parcel. The foregoing <br />indemnity provisions shall survive Closing and the termination of this Agreement by either <br />party. If either party disapproves the condition of the other party’s parcel prior to the <br />expiration of the Due Diligence Period, such party may terminate this Agreement by <br />written notice to the other party at any time prior to the expiration of the Due Diligence <br />Period, whereupon this Agreement shall be deemed terminated and neither party shall have <br />any further liabilities to the other except as otherwise expressly set forth herein. For further <br />clarity, the costs of inspection by each party as buyer shall be borne solely by the buyer. <br />11. Construction Conditions. Construction will begin within thirty (30) days of closing but <br />no later than May 1, 2022 on the HRA Parcel for the development of the New Bremer <br />Project, and is estimated to be completed by September 1, 2022, with an outside date of <br />December 31, 2022. [These dates will need to be coordinated with Interstate <br />schedule/development agreement with City.] <br />12. Representations. Each of the parties hereto warrant to the other party with respect to their <br />parcel the following: <br />(a) Bremer represents and warrants to HRA that Bremer has no actual knowledge of <br />the presence or release of any hazardous or toxic substances or any other substance <br />regulated by any federal, state or HRA statute, ordinance, regulation, rule or other <br />law relating to environmental or health matters (collectively, “Environmental <br />Laws”) on, in or under the Bremer Parcel. Bremer agrees to provide to HRA at <br />Closing a “bring down certificate” restating the foregoing representation as of the <br />date of Closing, subject to any modifications in accordance with the last paragraph <br />of this Section 12. <br />(b) HRA represents and warrants to Bremer that HRA has no actual knowledge of the <br />presence or release of any hazardous or toxic substances or any other substance <br />regulated by any Environmental Laws on, in or under the HRA Parcel. HRA agrees <br />to provide to Bremer at Closing a “bring down certificate” restating the foregoing <br />representation as of the date of Closing, subject to any modifications in accordance <br />with the last paragraph of this Section 12. <br />(c) Each party is in good standing and has the appropriate authority to enter into this <br />Agreement and the transactions contemplated herein. <br />(d) Each parcel is in full compliance with all applicable codes, laws and regulations. <br />(e) There is no legal action or litigation of any kind affecting the Parcels. <br />Deleted: 1 <br />Deleted: July <br />Deleted: 1 <br />Deleted: 1 <br />Deleted: Trident
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