Agenda - Council - 05/11/2021 - Laserfiche WebLink

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and the time frame in which Donor will take those actions ("Donor's Title Notice"). If Donor's Title Notice indicates that Donor unconditionally agrees to make Donor's title to the Property marketable on or before the closing date, the parties shall proceed to closing pursuant to the terms of this Agreement. If Donor's Title Notice indicates that Donor does not unconditionally agree to make Donor's Title to the Property marketable on or before the closing date, City may, at any time with three business days after City's receipt of Donor's Title Notice, terminate this Agreement by written notice to Donor in which case this Agreement is terminated ("City's Title Termination Notice"). If City does not deliver a City's Title Termination Notice to Donor within the three business days after City's receipt of Donor's Title Notice, then Donor must perform in accordance with Donor's Title Notice, City shall be deemed to have waived City's objections to the extent Donor has not agreed to address them in Donor's Title Notice, the matters to which City objected and Donor did not agree to resolve are deemed Permitted Exceptions, and the parties shall proceed to Closing in accordance with the terms of this Agreement and the terms of Donor's Title Notice. 5. Right of Entry. Upon execution of this Agreement, the City, its employees and agents may enter the Property for the purpose of inspecting the property, including conducting soil tests, environmental tests and survey work subject to the following conditions: a. The City must repair and or restore any damage it caused to the Property and remove any personal property, refuse or debris the City brought onto the Property. b. The City must comply with and shall cause it employees, agents, and contractors to comply with all applicable laws, while on the Property. 6. Inspection Period. The City shall have 60 days from the latest date of execution of this Agreement to investigate the Property and determine in its sole judgment whether the Property is suitable for the City's intended use. The City may, at any time before 5:00 p.m. on the last day of the inspection period, terminate this Agreement and decline the donation by written notice to Donor. 7. Donor Representations. a. Donor has no actual knowledge, or reason to believe, that the Property contains Hazardous Substances. The term "Hazardous Substance" means any pollutant, contaminant, hazardous substance or waste, solid waste, petroleum product, distillate, or fraction, radioactive material, chemical known to cause cancer or reproductive toxicity, polychlorinated biphenyl or any other chemical, substance or material listed or identified in or regulated by any Environmental Law. 2