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"Inspection Period") to investigate the Property and determine, in Buyer's sole
<br />judgment, whether (i) the condition of the Property is suitable to Buyer's intended
<br />use; and (ii) Buyer will be able to obtain all governmental approvals (including,
<br />but not limited to, approvals necessary to subdivide and re -plat the Property) and
<br />utilities necessary for Buyer's intended use of the Property. Buyer acknowledges
<br />and agrees that Seller has not made any covenants, representations or warranties
<br />regarding Buyer's ability to obtain governmental approvals from the City of
<br />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.
<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.
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