Agenda - Council - 01/26/2021 - Laserfiche WebLink

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8. PROPERTY SOLD AS IS. Subject to Buyers right to term in to this Agreement pursuant to Section 9, Buyer agrees to accept the Property in its current condition. including, without limitation, its current environmental and geological condition, and in an "AS -IS 1P13 and with "ALL FAULTS" condition. Buyer's payment of the Purchase Price at Closing constitutes Buyer's acknowledgment and agreement that: a. Seiler has not made any written or oral representations or warranties of any kind with respect to the Property (including, without limitation express or implied warranties of title, merchantability, or fitness for a particular put -pose); b. Buyer has not relied on any written or oral representation or warranty made by Seller. its auents or employees witli respect to the condition or value of the Pro per ty; c. Buyer has had an adequate opportunity to inspect the condition of the Property, including without limitation any environmental testing, and to inspect documents applicable thereto, and Buyer is relying solely on such inspection and testing- and y 9 d. The condition of the Property is fit for Buyer's Intended use. e. Buyer accepts all risk of Claims (including without limitation all Clainis under any Environmental Law and all Claims arising at common law, in equity or under a federal, state or local statute, rule or regulation) whether past, present or future, existing or contingent, known or unknown, arising out of. resulting from or relating to the condition of the Property. known or unknown, contemplated or uncontemplated, suspected or unsuspected, inciuding without limitation the presence of any Hazardous Substance on the Property, whether such Hazardous Substance is located on or Linder the Property. or has migrated from or to the Property. 9. INSPECTION PERIOD. a. Except as otherwise provided in Section 6, Buyer shall have from the date that Buyer deposits the Earnest Money with Escrow Agent to May 30, 2020 (the Ph i Inspection Period") to investigate the Property and determine, 'in Buyer's sole judgment, whether (i) the condition of the Property is suitable to Buyer"s intended LISe; and (ii) Buyer will be able to obtain all governmental approvals (including. but riot limited to, approvals necessary to subdivide and re -plat the Property) and utilities necessary for Buyer's intended use of the Property. Buyer acknowledges and agrees that Seiler has not made any covenants. representations or warranties regarding Buyer's ability to obtain goveminent al approvals from the City of Ramsey or any other governmental entity. The City of Ramsey will revie%�,, consider and act on any applications Buyer submits to the City for governmental approvals in accordance with City IL-ocle. Page 4 of 13