Agenda - Council - 12/09/2025 - Laserfiche WebLink

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3. Construction: The access granted hereunder is intended to convey and grant onto Purchaser a temporary right to enter upon the Property and to conduct the activities stated herein. By acceptance hereof, Purchaser agrees to bear the full cost and expense of any activities with respect to and in accordance with this Agreement. In consideration for Purchaser's use of the Property, Purchaser agrees to be responsible for all damages caused to the buildings or land situated on the Property which damages result from the acts or negligence of Purchaser or Purchaser's Agents upon the Property. 4. Insurance. Purchaser agrees that, in making any non -intrusive physical and environmental inspections of the Property, Purchaser and all of Purchaser's Agents entering on the Property shall carry not less than Two Million Dollars ($2,000,000.00) commercial general liability insurance (on an occurrence basis) insuring all activity and conduct of Purchaser and such agents while exercising the right of access provided for in this Agreement and naming Seller, Invesco Advisers, Inc., a Delaware corporation, and Seller's property manager as additional insureds. Purchaser hereby represents and warrants that it carries not less than Two Million Dollars ($2,000,000.00) commercial general liability insurance with contractual liability endorsement which insures Purchaser's indemnity obligations hereunder. Prior to Purchaser or any Purchaser's Agent entering the Property, and upon request of Seller, Purchaser will provide Seller with written evidence of the insurance required under this Section 4. 5. Restoration of Property. Purchaser shall, at its sole cost and expense and in strict accordance with all requirements of applicable law, promptly restore any damage or alteration of the physical condition of the Property which results from any inspection or activity conducted by Purchaser or any Purchaser's Agent. The provisions of this Section 5 shall survive any termination of this Agreement. 6. Indemnification. Purchaser agrees to indemnify, defend and hold Seller free and harmless from any loss, injury, damage, claim, lien, cost or expense (including reasonable attorneys' fees and costs) arising out of a breach of this Agreement by Purchaser in connection with the inspection of the Property, or otherwise from exercise by Purchaser or any Purchaser's Agent of the right of access described herein. The provisions of this Section 6 shall survive any termination of this Agreement. 7. Notice. Except as otherwise provided herein, any notice required or permitted to be given hereunder shall be deemed to be given when hand delivered or one (1) business day after pick-up by overnight express service, in either case addressed to the parties at their respective addresses referenced below: If Seller: City of Ramsey 7550 Sunwood Drive NW Ramsey, MN 55302 Attn: Sean Sullivan ssullivan@ci.ramsey.mn.us 2