Resolution 2008-29 - Laserfiche WebLink

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b. If Purchaser deterti~ines, in its sale discretion, that the cost to manage, treat, abate, o-• remove any hazardous substances found on the Property is uneconomical as a result of amp condit'sons disclosed by tests conducted hereunder; or • c, If any part of the Property is condemned, or if proceedings for such condemnation are comtrtenced ot• notice of condemnation is received by Selli~r from a condtrnjning authority other than Purchaser prig:• to the date of elosinb on the Property; or d. If Purchaser determines in its sole discretion, and based ot~ any inspections conducted. pursuant to Paragraph 19, that there Exists a t.tnsatisfae;tot•;y physical condition of the I'rol~ert}; or e. In the event any action whatsoever is commenced to defeat or enjoin the Purchaser's performance under this Contract. 21. If C'urchast;r elects to terminate the Contract pursuant to Paragraph 20, Purchaser shall provide: ~vt•itten notice to Seller declaring this Contract terminated, whereupon all throbs cif value received hereunder shall be immediately returned to Purchaser, and both parties shall be released herefrom. REAL ESTATE COMMISSICFN 22. Neither party has engaged the services of any real estate agent or broker, and nci commission is owed by either party in this transaction. Seller is a+:Ivised tc~ secl: legal and tax.. counsel representation for Seller's own account, and Seller shall be solely responsible for any cotttmission or fees owned to at~y agent, broker or counsel retained by Seller. PI20PERTY TO REMAIN ClNENCUIYIBERED 23. Seller agrees that.. Seller will trot, so long as khis Contract is in effect, encumber ~r burden tl~e Property. NO DEVELOPMENT 24. Seller agrees that during tl~e term of this Contract and tliro~igll tl~e date of delivery of possession of the Property to Purchaser, Seller shall not develop the Property in any manner, it~e:luding without limitation, constructing any itnprovernents or erecting amp structen•es on the Property, leasing. mineral rights for the Property, or disturbing the surface of the Property. TAX. CONSEQUENCES; ACKNOWLEDGMENT OF COUNSEL 25. Seller acknowledges that neither the: Purchaser, nor any of its agents or attorneys ha~~t• trade any representations as to the tax treatment to be accorded io tl}is Contract or to any proceeds thereof by the Internal Revenue Service under the Internal Revenue Code or by the tax officials of the State of Colorado under Colorado tax la~v. It is acknowledged that both parties have participated in the