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Agenda - Council Work Session - 08/23/2016
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Agenda - Council Work Session - 08/23/2016
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3/17/2025 3:52:16 PM
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8/22/2016 10:58:03 AM
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Meetings
Meeting Document Type
Agenda
Meeting Type
Council Work Session
Document Date
08/23/2016
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vii) MPCA Petroleum Tank Release Site File Closure <br /> viii) Geotechnical Soils Evaluation <br /> ix) Hazardous Materials Survey <br /> x) Aerial Photo <br /> xi) Lidar Contours Map' <br /> xii) Street Map <br /> xiii) Sewer and Water Map <br /> xiv) Official Zoning Map <br /> xv) Development Concept Maps <br /> xvi) Consumer Confidence Report(water) <br /> L Inspection and Due Diligence Investigation Period. Buyer shall be afforded a <br /> period of sixty(60) days from the Effective Date (the"Due Diligence Period")to <br /> complete its inspections and due diligence investigations. If Buyer's inspections <br /> and due diligence investigations are not completed within the Due Diligence <br /> Period for no fault of Buyer, Buyer may request and Seller shall grant one (1) <br /> thirty(30)day extension of the inspection and due diligence period. <br /> g. Financing. The Buyer's obligations under this agreement are contingent upon <br /> the Buyer obtaining a reasonably satisfactory financing commitment within One <br /> Hundred Twenty(120)days after the signing of this agreement. <br /> h. If any contingency has not been satisfied or waived by Buyer, in its sole <br /> discretion, on or before the Closing Date, then Buyer may at its option terminate <br /> this Agreement by written notice to the Seller at any time on or before the Closing <br /> Date. Upon termination of this Agreement pursuant to this Section 3 (and except <br /> as otherwise provided herein), all of the Earnest Money, and any interest accrued <br /> thereon, shall be immediately released to Buyer, and upon such return this <br /> Agreement shall terminate and neither party shall have any further rights or <br /> obligations regarding this Agreement or the Property. All of the contingencies <br /> set forth in this Agreement are specifically for Buyer's exclusive benefit, and <br /> Buyer shall have the right to unilaterally waive any of Buyer's contingencies <br /> contained in this Agreement. Notwithstanding the foregoing,nothing contained <br /> in this Section 3 will waive or diminish any right or remedy Buyer may have for <br /> Seller's default or breach of this Agreement. <br /> 5. Seller's Cooperation. Seller shall fully cooperate with Buyer's feasibility <br /> and due diligence investigations. Seller hereby authorizes Buyer and Buyer's representatives, <br /> agents, employees, contractors and experts to enter upon the Property during the Due Diligence <br /> 4 <br />
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