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Ramsey or any other governmental entity. The City of Ramsey will review,
<br /> consider and act on any applications Buyer submits to the City for governmental
<br /> approvals in accordance with City Code.
<br /> b. Buyer may, at any time on or before 5:00 p.m. on the last day of the Inspection
<br /> Period, terminate the Agreement by written notice to Seller based on Buyer's
<br /> determination, in Buyer's sole and absolute discretion, that the condition of the
<br /> Property is not suitable for Buyer's intended use or that Buyer may not be able to
<br /> obtain all governmental approvals and utilities necessary for Buyer's intended use
<br /> of the Property. In addition, this Agreement automatically terminates at 5:00 p.m.
<br /> on the last day of the Inspection Period unless,prior to that time Buyer delivers a
<br /> written notice of Buyer's intention to proceed (a"Notice to Proceed")to Seller.
<br /> c. If,pursuant to Section 9(b) either Buyer terminates this Agreement or this
<br /> Agreement is automatically terminated, the Escrow Agent must disburse to Buyer
<br /> any Earnest Money Escrow Agent holds, other than Earnest Money Escrow Agent
<br /> is obligated to disburse to Seller pursuant to Sections 4(b) and (c).
<br /> 10. 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 /> 11. RELEASE. Buyer, for itself, its directors, officers, stockholders, divisions, agents,
<br /> affiliates, subsidiaries, predecessors, successors, and assigns and anyone acting on its
<br /> behalf or their behalf hereby fully releases and forever discharges Seller from any and all
<br /> Claims (including without limitation all Claims arising under any Environmental Law
<br /> and all Claims arising at common law, in equity or under a federal, state or local statute,
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