My WebLink
|
Help
|
About
|
Sign Out
Home
Browse
Search
Resolution 2013-45
PORTAL
>
CITY COUNCIL RECORDS
>
RESOLUTIONS (45.160)
>
2010-2019 Resolutions
>
2013 Resolutions
>
Resolution 2013-45
Metadata
Thumbnails
Annotations
Entry Properties
Last modified
3/12/2021 3:11:34 PM
Creation date
8/21/2013 9:41:36 AM
Metadata
Fields
Template:
City Council Records
Also Known As (aka)
City Services Facility Land Purchase Approval for CTC Filing 2 Lots 6 7 12
Doc Type
Resolution
Signed Date
8/20/2013
Ord/Res - Year
2013
Ord/Res - Number
45
Project Name
City Services Facility (New Shops)
Original Hardcopy Storage
7D6
Record Series Code
45.160
Record Series Name
Resolutions
Supplemental fields
Test
RES 2013-45
There are no annotations on this page.
Document management portal powered by Laserfiche WebLink 9 © 1998-2015
Laserfiche.
All rights reserved.
/
30
PDF
Print
Pages to print
Enter page numbers and/or page ranges separated by commas. For example, 1,3,5-12.
After downloading, print the document using a PDF reader (e.g. Adobe Reader).
Show annotations
View images
View plain text
the Deposit shall be returned to Buyer. Notwithstanding the foregoing, in the event the adverse information is <br />willfully caused by Seller, it shall be an event of default under this Agreement if Seller has not cured such <br />information within fifteen (15) business days of Seller's receipt of the Updated Survey. <br />3.3 Inspection Obligations. <br />3.3.1 Buyer's Responsibilities. In conducting any investigations, inspections, tests <br />and studies of the Property and/or Documents, Buyer and its agents and representatives shall: (i) not interfere <br />with the operation, use and maintenance of the Property; (ii) not damage any part of the Property or any <br />personal property owned or held by any third party; (iii) not injure or otherwise cause bodily harm to Seller or <br />any of its partners, agents, contractors and employees or other third party; (iv) maintain commercial general <br />liability (occurrence) insurance in the amount of One Million Dollars ($1,000,000) and on terms otherwise <br />satisfactory to Seller covering any accident arising in connection with the presence of Buyer, its agents and <br />representatives on the Real Property and shall deliver a certificate of insurance verifying such coverage to <br />Seller prior to any entry upon the Real Property; (vi) promptly pay when due the costs of all tests, <br />investigations, studies and examinations done with regard to the Property; (vii) not permit any liens to attach to <br />the Property by reason of the exercise of its rights hereunder; (viii) fully restore the Real Property and Personal <br />Property to the condition in which the same was found before any such inspections, tests or studies were <br />undertaken; and (ix) not reveal or disclose any information obtained prior to Closing concerning the Property to <br />anyone outside Buyer's organization except in accordance with the confidentiality standards set forth in <br />Section 3.2. <br />3.3.2 Buyer's Indemnity. To the extent permitted by law, Buyer shall indemnify, <br />defend, protect and hold Seller and its agents, employees and contractors harmless from and against any and all <br />liens, claims, losses, liabilities, damages, costs, expenses, causes of action and expenses (including reasonable <br />attorneys' fees and court costs) arising out of (i) Buyer's inspections, tests and/or studies of the Property and <br />Documents, and/or (ii) any violation by Buyer of the provisions of this Section 3. Notwithstanding any <br />provision to the contrary contained in this Agreement, Buyer's obligations and indemnity set forth in Section 3.2 <br />and this Section 3.3 shall survive the Closing or earlier termination of this Agreement and shall not be merged <br />with the Deed (as defined below) or any other Closing documents. <br />3.4 Delivery of Approval Notice or Termination. In the event that, on or prior to <br />the expiration of the Inspection Period, Buyer elects to approve all matters relating to the Property, Buyer shall <br />deliver a written notice (the "Approval Notice ") to the Seller and the Escrow Holder. Buyer' s delivery of the <br />Approval Notice to the Seller and the Escrow Holder shall be conclusive evidence of Buyer' s approval of each <br />and every aspect of the Property, including, without limitation, (a) the structural, physical and environmental <br />condition of the Property, (b) all Property Contracts, (c) Buyer' s financial analyses of the Property, and (d) all <br />title and survey matters. If, however, Buyer shall fail to deliver the Approval Notice to the Seller and the <br />Escrow Holder on or prior to the last day of the Inspection Period, then this Agreement and the Escrow shall <br />automatically terminate and Buyer shall pay the Escrow Holder's standard escrow termination fee in an amount <br />equal to Seven Hundred and Fifty Dollars ($750.00). Upon such termination, neither Seller nor Buyer shall <br />have any further obligation or liability to the other hereunder (except as otherwise specifically set forth in this <br />Agreement), and the Deposit (plus all interest actually accrued thereon while held by Escrow Holder) shall be <br />returned to Buyer (less Escrow Holder's termination fee as set forth above). Upon Buyer' s delivery of the <br />Approval Notice to the Seller and the Escrow Holder, the Deposit shall become and remain non - refundable <br />(except in the event of Seller's default hereunder). <br />6 <br />2013 08 20 CTC land purchase 04 agreement FINAL.doc <br />
The URL can be used to link to this page
Your browser does not support the video tag.