Agenda - Council - 01/24/2017 - Laserfiche WebLink

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(and its employees, agents, and contractors) may enter the Property, upon at least 24 hours prior notice, for the purpose of conducting soil tests, environmental tests and additional survey work, subject to the following conditions: a. Upon the earlier of the date one week after Buyer's completion of its activities on the Property or the date one week after the termination of this Agreement, if either Seller or Buyer terminate this Agreement in accordance with the provisions hereof prior to Closing, Buyer must repair and or restore any damage Buyer or its employees, agents or contractors cause to the Property and remove any personal property, refuse or debris Buyer or its employees, agents or contractors brought onto or authorized third parties to bring onto the Property. b. Buyer must comply with and shall cause it employees, agents, and contractors to comply with all applicable laws, while on the Property. c. The cost of any test or additional survey work will be borne solely by Buyer. 8. INSPECTION PERIOD. a. Except as otherwise provided in Section 6, Buyer shall have from the date that Buyer deposits the Earnest Money with Escrow Agent to April 12, 2017, (the "Inspection Period")to investigate the Property and determine, in Buyer's sole judgment, whether the condition of the Property is suitable to Buyer's intended use. i. Seller agrees that investigation of the Property includes the right of Buyer to remove the existing canopy over the gas pump islands and removal of the underground storage tanks along with removal of whatever concrete in the vicinity of the pump islands reasonably necessary to complete the canopy and tank removal. ii. Buyer is responsible for the cost of the removal described in Section 8(a)(i), including the cost for disposal of all equipment, materials, structures and concrete removed. iii. Buyer shall fill and level any excavation with clean fill. iv. Buyer and/or its consultant shall provide Seller a Certificate of Insurance, the Seller as named Insured, in the amount of One Million Dollars ($1,000,000.00)to insure against any damages or injury occurring during any on-site inspection. To the extent allowed by law, Buyer shall indemnify and hold Seller harmless of and from any damages or injuries which may occur during the course of the inspection. b. Buyer may, at anytime on or before 5:00 p.m. on the last day of the Inspection Period, terminate the Agreement by written notice to Seller based on Buyer's determination, in Buyer's sole and absolute discretion, that the condition of the Property is not suitable for Buyer's intended use. In addition, this Agreement 3