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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. <br />Section 2.5 Environmental Audit. The Developer will obtain at its expense the Phase I <br />Environmental Assessment Report of the Development Property if the Developer's lender <br />requires the same. <br />Section 2.6 Obliaations on Closing Date. At the closing, City shall execute, where <br />appropriate, and deliver to Developer: <br />a. 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 (e) hereof. <br />b. All certificates, instruments, and other documents necessary to permit the <br />recording of the Deed. <br />c. A policy of title insurance issued pursuant to the Commitment, subject to no <br />exceptions other than those accepted by Developer pursuant to Section 2.3 hereof <br />together with the abstracts of title to any portion of the Development Property <br />which is abstract property and the owners' duplicate certificate of title to any <br />portion of the Development Property which is registered property; provided, <br />however, Developer shall pay the premium for the policy of title insurance. <br />d. A standard Seller's Affidavit with respect to judgments, bankruptcies, tax liens, <br />mechanics liens', parties in possession, unrecorded interests, encroachment or <br />boundary line questions, and related matters, properly executed on behalf of City. <br />e. Any well certificate required by M.S. §103I.235. <br />f. The Assessment Agreement. <br />g. The Lien Agreement. <br />9 <br />