Resolution 1998-08 - Laserfiche WebLink

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other party, as provided in this Agreement and to carry out its obligations under this Agreement; and d. To the party's actual knowledge, the execution and delivery of this Agreement and the performance of all of the obligations of the party thereunder will not result in a breach of, or constitute a default under, any agreement entered into by the party or under any covenant or restriction affecting the Parcel to be conveyed by it; and e. To the party's actual knowledge, it has not granted or created, and has no knowledge of any third parties who may have the right to claim or assert, any easement, right-of-way or claim of possession not shown by record, whether by grant, prescription, adverse possession or otherwise, as to any part of the Parcel to be conveyed by it. f. To the best of the party's knowledge, no part of the Parcel to be conveyed by it has ever been used as a landfill, and no materials, including without limitation, asbestos, PCB's, or other hazardous substances, have ever been stored or deposited upon such Parcel which would under any applicable governmental law or regulation require that the Parcel be treated or materials removed from the Parcel prior to the use of the Parcel for any purpose which would be permitted by law but for the existence of said materials on the Parcel; and g. To the best of the party's knowledge, no underground storage tank, as that term is defined by federal statute or Colorado statute, is located on the Parcel to be conveyed by it which under applicable governmental law or regulation is required to be upgraded, modified, replaced, closed or removed. 19. Certification. Each party at the time of closing shall certify in writing to the other party that the representations and warranties in Paragraph 18 remain true and correct as of the date of closing, or such party shall certify which representations and warranties no longer remain true and correct. In the event the party certifies that one or more representations and warranties is no longer true and correct, the other party at its option may complete the transaction notwithstanding the uncorrected defects or may, upon written notice to the other party, declare this Agreement terminated, whereupon all things of value received hereunder shall immediately be returned and both parties shall be released herefrom. 20. No Development. During the term of this Agreement and through the date of delivery of possession, neither party shall develop in any manner or disturb the surface of the Parcel which is currently owned by it and is to be conveyed pursuant to this Agreement, except as may be permitted pursuant to Paragraph 14.