Agenda - Council - 07/22/2014 - Laserfiche WebLink

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PURCHASE AND SALE CONTRACT A. Zoning. As of the Closing Date the Property shall be properly zoned for commercial real estate with all necessary zoning variances, if any are required, approved for Buyer's intended development. B. No Moratoriums. There shall be no development or building moratorium in effect with regard to the Property. In the event any such moratorium shall exist, then Buyer shall have the option of either (1) closing the transaction in accordance with the terms of this Agreement, (2) delaying closing until after the moratorium is lifted, or (3) terminating this Agreement by notice to the Seller, in which event the earnest monies shall be returned to Buyer. C. Ingress and Egress. There shall be suitable ingress and egress to the Property via a single curb cut off of 142ns Avenue N.W., the location and cost of which shall be the Buyer's sole responsibility. D. Sanitary Sewer and Water Facilities._ Buyer shall have (1) determined that sanitary sewer and water facilities adequate to serve the Property are available and (2) secured all required governmental approvals for the installations and use of such sanitary sewer and water facilities. Buyer is responsible for all costs to connect the facilities, including applicable trunk, lateral, and accessibility charges. E, Governmental Approvals. Buyer shall have received all necessary governmental approvals from the appropriate authorities for Buyer's proposed development, including without limitation, building permits, site plan approval including parking, and storm water retention. In addition, Buyer shall have received approval of its proposed tenant of the site plan as satisfying all tenants' conditions pursuant to tenant's lease agreement with Buyer. If Buyer has requests pending before any government body for a permit, license or other approval required to begin the construction Buyer anticipates on the Property, Buyer may, by delivering written notice prior to expiration of this Agreement, extend the closing for thirty (30) days past such time as all applicable government bodies rule on the issuance of any requested permits, not to exceed one hundred twenty (120) days in addition to all other extensions provided for herein. The timeframe is dependent upon when the Buyer submits plans for review. Forty five to sixty days for the site plan approval and thirty days for Building Permit Review is required. Sorne thnelines may run correctly if Buyer submits full and complete plans. F. Canning of Wells. In the event any uncapped oil or water wells on the Property are required to be capped as part of Buyer's intended development of the Property, Buyer may cap such well upon three (3) calendar days prior written notice by facsimile transmission or electronic mail and Seller shall reimburse Buyer for the reasonable costs of capping said wells on or before Closing. For purposes of this Section 7 (G), notice to Seller's agent shall constitute sufficient notice to Seller. (-)51‘ Buyer's Initials Seller's Initials/"(