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automatically terminates at 5:00 p.m. on the last day of the Inspection Period unless,
<br /> prior to that time Buyer delivers a written notice of Buyer's intention to proceed (a
<br /> "Notice to Proceed")to Seller.
<br /> c. If, pursuant to Section 8(b), either Buyer terminates this Agreement or this
<br /> Agreement is automatically terminated, the Escrow Agent must disburse to Buyer any
<br /> Earnest Money Escrow Agent holds.
<br /> 9. DEFINITIONS. As used in this Agreement:
<br /> "Claim" or"Claims" means any and all liabilities, suits, claims, counterclaims, causes of
<br /> action, demands, penalties, debts, obligations, promises, acts, fines,judgments, damages,
<br /> consequential damages, losses, costs, and expenses of every kind (including without
<br /> limitation any attorney's fees, consultant's fees, costs, remedial action costs, cleanup
<br /> costs and expenses which may be related to any claims).
<br /> "Environmental Law" means the Comprehensive Environmental Response,
<br /> Compensation and Liability Act ("CERCLA"), 42 U.S.C. § 9601 et seq., the Resource
<br /> Conservation and Recovery Act, 42 U.S.C. § 6901 et seq., the Federal Water Pollution
<br /> Control Act (the Clean Water Act), 33 U.S.C. § 1251 et seq. the Clean Air Act, 42
<br /> U.S.C. § 7401 et seq., and the Toxic Substances Control Act, 15 U.S.C. § 2601 et seq., all
<br /> as amended from time to time, and any other federal, state, local or other governmental
<br /> statute, regulation, rule, law or ordinance dealing with the protection of human health,
<br /> safety, natural resources or the environment now existing or hereafter enacted.
<br /> "Hazardous Substance" or"Hazardous Substances" means any pollutant, contaminant,
<br /> hazardous substance or waste, solid waste, petroleum product, distillate, or fraction,
<br /> radioactive material, chemical known to cause cancer or reproductive toxicity,
<br /> polychlorinated biphenyl or any other chemical, substance or material listed or identified
<br /> in or regulated by any Environmental Law.
<br /> 10. ENVIRONMENTAL.
<br /> a. Site Data. Seller acknowledges that the Property was formerly used as a Shell
<br /> gas station and the site still contains underground storage tanks (USTs) consistent
<br /> with that use. Seller shall provide Buyer with the following within five days after
<br /> the Effective Date:
<br /> i. A copy of the underground tank affidavit required under Minnesota
<br /> Statutes section 116.48, which shall be recorded as required by that
<br /> statute.
<br /> ii. A copy of all UST installation data in Seller's possession, including, if
<br /> available, construction plans, specifications, technical data, and all permits
<br /> and communications with the State concerning the tanks.
<br /> iii. All notifications to the Minnesota Pollution Control Agency concerning
<br /> any change in UST status or abandonment.
<br /> iv. A copy of all available UST inspection records.
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