Agenda - Council - 01/14/2025 - Laserfiche WebLink

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The payment and indemnification provisions of this Section 7 shall survive any termination or cancellation of this Agreement and are referred to herein as the"Surviving Obligations for a period of no more than six (6)months. 8. PROPERTY SOLD AS IS. Subject to Buyer's right to terminate 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" and with"ALL FAULTS" condition. Buyer's payment of the Purchase Price at Closing constitutes Buyer's acknowledgment and agreement that: a. Seller 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 purpose); b. Buyer has not relied on any written or oral representation or warranty made by Seller, its agents or employees with respect to the condition or value of the Property; 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 d. The condition of the Property is fit for Buyer's intended use. e. Buyer accepts all risk of Claims (including without limitation all Claims 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, including without limitation the presence of any Hazardous Substance on the Property, whether such Hazardous Substance is located on or under the Property, or has migrated from or to the Property. f. Notwithstanding anything herein to the contrary Seller shall work with Anoka County to grant and provide the Access Points shown on Exhibit B and further Buyer shall not be required to install or plan for any storm water detention, retention, or any other storm water requirements other than flow control into the City regional storm water system. To remove any doubt all storm water shall be allowed to be discharged off site into the regional stormwater system. The Seller acknowledges that the site does have access to the regional storm water system. g. Seller agrees that Buyer shall be re-platting the Property into separate platted lots and that each lot shall be allowed a freestanding pylon sign. In addition, Buyer shall be allowed a shared monument sign on the corner of Bunker Lake and Armstrong Boulevard. All signs shall be on Buyer owned property and meet Page 4 of 15