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Agenda - Economic Development Authority - 03/12/2020
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Agenda - Economic Development Authority - 03/12/2020
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3/14/2025 3:38:33 PM
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3/6/2020 10:47:10 AM
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Meetings
Meeting Document Type
Agenda
Meeting Type
Economic Development Authority
Document Date
03/12/2020
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huuincxx duva after Buyer's receipt of Seller's lli|c Notice, than Seller must <br />perform in accordance with 8cUe,`s Title Notice, Buyer xbuU he deemed to have <br />waived Buyer's objections to the extent Seller has not agreed to address them in <br />8c||er`u Title Notice, the nnuUc,s to which Buyer objected and Seller did not agree <br />to resolve are deemed Permitted Exceptions, and the parties shall proceed to <br />Closing in accordance with the terms of this Agreement and the terms of Seller's <br />Title Notice. <br />7. RIGHT OF ENTRY. 8iall times after Buyer has deposited the Earnest Money with <br />Seller and before the Closing, Buyer (and its employees, agents, and contractors) may <br />enter the Property for the purpose of conducting soil tests, environmental tests and <br />additional survey work, subject tothe following conditions: <br />n. Within one week after the termination of this Agreement, if either Seller or Buyer <br />terminate this Agreement in accordance with the provisions hereof prior to <br />Closing, Buyer must repair and or restore any damage Buyer or its employees, <br />agents or contractors cause to the Property and remove any personal property, <br />refuse or debris Buyer or its employees, agents or contractors brought onto or <br />authorized third parties to bring onto the Property. <br />b. Buyer must defend and indemnify ScUcrfrommnd against and hold Seller <br />harmless Seller from all "C|ainnx,^`osdefined in Section 10, arising out of, <br />resulting from ocrelating hoany loss ofordamage toany property orbusiness or <br />out o[any injury tunrdcatho[unypurxon,i[the|oxo,dunnuge,i 'ury,ordcudl <br />arises or ioalleged toarise either directly or indirectly and either wholly or in puni <br />from: (a) any action or omission of Buyer or its employees, agents, or contractors, <br />while on the Property pursuant to this Section; or (b) actions or omissions of <br />Buyer or Buyer's employees, agents, or contractors that cause or result in the <br />release of any Hazardous Substance onto the Property or onto other property. <br />c. Buyer must with and shall cause itemployees, agents, and contractors to <br />comply with all applicable laws, while on the Property. <br />d[ Other than ustandard Phase \ environmental uouesumcni Buyer may not <br />commence any environmental testing nnthe Property until Buyer submits nwork <br />plan for such testing to Seller and Seller approves the work plan, in writing. <br />Seller may not unreasonably withhold, condition ordelay Seller's approval ofu <br />work plan. <br />e. Buyer must, promptlyand without demand from Seller, provide Seller with true <br />and complete copies of all draft and final reports relating to Buyer's gcotcohnicu| <br />and environmental investigations and testing of the Property including, without <br />limitation, any reports relating 0oany Phase l Eovionnnocntu| Site Assessment of <br />the Property. <br />f. The cost of any test or additional survey work will be borne solely by Buyer. <br />Page 3 of 12 <br />
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