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<br />Agreement shall become null and void, and neither party shall have any further rights,
<br />obligations, or liability hereunder.
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<br /> City agrees to promptly obtain and deliver to Developer, at City's expense, a currently
<br />dated survey of the Development Property ("Survey"), prepared by a Minnesota registered land
<br />surveyor acceptable to Developer and City. The Survey will be certified to City, Developer, and
<br />Title Company. The Survey shall show the exact location, legal description, and boundary lines
<br />of the Development Property; the nature and location of all easements and encroachments from
<br />or on the Development Property; the square footage of the Development Property. The Survey
<br />shall be certified to meet the Minimum Detail Standards adopted in 1992 by ALTA/ASCM for
<br />Class A urban surveys, including Items 1, 3, 4, 6, 8, and 13 of Table A thereto, and shall
<br />otherwise be in form reasonably acceptable to Developer.
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<br /> Section 2.4 Inspection. Developer, its agents and designees, are hereby granted the right,
<br />at all reasonable times, to enter upon and inspect, analyze, and test the Development Property
<br />and its various components for all reasonable purposes, including, but not limited to,
<br />investigations for the presence of asbestos, PCBs and other hazardous substances, hazardous
<br />wastes, pollutants, or contaminants on the Development Property. Developer shall pay for the
<br />cost of all investigations of the Development Property which are ordered by Developer.
<br />Developer hereby agrees to indemnify and hold City harmless from any claims, damage, costs,
<br />and liability including, without limitation, reasonable attorney's fees, resulting from the entering
<br />upon the Development Property or the performing of any of the analyses, tests, or inspections
<br />referred to in this Paragraph; however, nothing contained herein shall be deemed to require
<br />Developer to indemnify or hold City harmless from any liability for any environmental
<br />remediation which based upon Developer's tests or inspections, may be determined to be
<br />necessary, pursuant to applicable law or regulation. The provisions of this Paragraph shall
<br />survive the closing or termination of this Agreement.
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<br /> Section 2.5 Environmental Audit. The City has delivered to the Developer a Phase I
<br />Envirmtmental Assessment Report for Tax Parcel 34-32-25-11-0017 and a Phase II
<br />Environmental Assessment Report for Tax Parcels 34-32-25-11-0018 and 34-32-25-11-0019.
<br />The Developer will obtain at its expense an update of the Phase I Environmental Audits
<br />("Environmental Audits") of the Development Property if the Developer's lender requires the
<br />same.
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<br /> Section 2.6 Obligations on Closinq Date. At the closing, City shall execute, where
<br />appropriate, and deliver to Developer:
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<br />A warranty deed ("Deed"), properly executed on behalf of City in recordable
<br />form, with all applicable real property transfer taxes paid and stamps, if any,
<br />affixed thereto, conveying the Development Property to Developer. The Deed
<br />shall contain the following statement: "The City certifies that the City does not
<br />know of any wells on the described Development Property" unless City delivers a
<br />well certificate described in Subparagraph (f) hereof.
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