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Agenda - Council - 08/28/2018
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Agenda - Council - 08/28/2018
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3/17/2025 2:55:13 PM
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Meetings
Meeting Document Type
Agenda
Meeting Type
Council
Document Date
08/28/2018
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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 />f. 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• <br />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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