Agenda - Council - 03/22/2005 - Laserfiche WebLink

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d. Covenants, !¢onditions,:restrictions and easements of record. 8. REVIEW PERIOD. Within five (5) days following the execution of this Agreement, SELLER shall provide to BUyE~ copies of any Environmental Site Assessment reports in its possession 'relating tO the Property and/or any reports, notifications, or correspondence of any kind from any governmental entities !relating to environmental conditions of the Property. BUYER shall have thirty (30) daYs from the date !hereof ("Review Period") to inspect the Property. SELLER agrees to permit accesS~ ito the PioPerty at reasonable times and with advance notice, to BUYER'S authorized inspector~. In the event that BUYER reasonably determines that the Property is unacceptable to BUi~ R: due:to the condition of the Property, BUYER shall give SELLER written notice of such~ fact as '.sOon as possible and. in any event on or before the expiration of the Review Period. iff any sU~ch unacceptable matter can be corrected by the mutual agreement of SELLER and BU~..~ER (withOut any obligation on the part of either SELLER or BUYER to so agree), then tNs A~eement Shall be amended as appropriate on or before the end of the Review Period. In the event ~rELLER5 and BUYER are unable to so agree, BUYER may, at SUYER'S option, terminate this ~gre'ement by Written notice to SELLER prior to the expiration of the Review Period. BUYER'S preserving ~is :Agreement in effect shall be deemed an approval of the Property, and BUYER waive~any fight}to object further to any of the foregoing. BUYER shall hold any and all materials and inf0rmationlin Confidence, subject to the State of Minnesota's data privacy laws as applied to BI.I~.ER; a~ MinneSota Municipal Corporation and BUYER shall indemnify, protect, defend and h01d SELLER harmless from and against any and all loss, cost, claim, liability or expense arising but o£anY inspbCtion or contact made pursuant to this Agreement or otherwise. In the event the tramaction 4°es not close for any reason, BUYER shall restore the areas of the Property unreasonably disturbeld by :its Review, to substantially the same condition as existed prior to the BUYER'S ent~ on the ProperS,. BUYER shall deliver to SELLER, at no cost to SELLER, copies of all surveys, reports, audits or similar information obtained during the Review Period. 9. REAL ESTATE ~AXEs AND SPECIAL ASSESSMENTS. Real estate taxes and assessments shall be payable as follows: a. Real estate :,taxes du~: andi Payable in and for the year of closing shall be prorated betWeen SELLER and BUYER to the actual date of closing. b. BUYER shall assume on the date of closing, all special assessments levied as of the date 0fthiS Agreement. c. BUYER sh{t!l assume on: the date of closing, special assessments pending as of:the date Of this A~eement for improvements that have been ordered by the City Council'or other governmental.assessing authorities. d. SELLER shall pay on the date of closing, any deferred real estate taxes or special assessments payment of which is required as a result of the closing of this sale.