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6. EDSR 03-11-2013
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6. EDSR 03-11-2013
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b. Buyer represents that Buyer has not engaged anyone else to act as Buyer's <br /> agent in this transaction. <br /> 17. Buyer's Inspection and "AS IS" Sale. At all times prior to the Date of Closing, <br /> Buyer and its agents have the right, upon reasonable notice to Seller, to go upon the Property to <br /> inspect the Property and to determine the condition of the Property including, specifically,the <br /> presence or absence of Hazardous Substances, in, on, or about the Property. Buyer agrees to <br /> indemnify and defend Seller from and to hold Seller harmless against any and all claims, causes <br /> of action or expenses, including attorneys' fees,relating to or arising from Buyer's or Buyer's <br /> agents or contractors presence on the Property prior to the Date of Closing. Buyer agrees to <br /> repair any damage to the Property caused by such inspections and to return the Property to <br /> substantially the same condition as existed prior to Buyer's inspection. BUYER <br /> ACKNOWLEDGES THAT BUYER IS PURCHASING THE PROPERTY IN RELIANCE <br /> ON THE REPRESENTATIONS OF SELLER SET FORTH IN SECTION 15; ON <br /> BUYER'S INSPECTION OF THE PROPERTY PURSUANT TO THIS SECTION 17; <br /> AND ON BUYER'S JUDGMENT REGARDING THE SUFFICIENCY OF SUCH <br /> INSPECTIONS. BUYER IS NOT RELYING ON ANY WRITTEN OR ORAL <br /> REPRESENTATIONS,WARRANTIES OR STATEMENTS THAT SELLER OR <br /> SELLER'S AGENTS HAVE MADE EXCEPT FOR THE REPRESENTATIONS SET <br /> FORTH IN SECTION 15 OF THIS AGREEMENT. SUBJECT TO BUYER'S RIGHT TO <br /> TERMINATE THIS AGREEMENT PURSUANT TO SECTION 18,BUYER IS <br /> PURCHASING THE PROPERTY IN "AS IS" CONDITION RELYING ONLY ON THE <br /> REPRESENTATIONS SET FORTH IN SECTION 15. <br /> 18. Buyer's Contingencies. Buyer's obligations under this Agreement are contingent <br /> on: <br /> a. Buyer's determination, based on the inspections described in Section 17 <br /> above and any other relevant information,that the condition of the Property is acceptable <br /> to Buyer; and <br /> b. Seller having satisfied the notice and hearing requirements set forth in <br /> Minnesota Statute Section 469.105, Subd. 2; having made findings and a decision that the <br /> sale is advisable and having entered its findings on its records as required by Minnesota <br /> Statute Section 469.105, Subd. 3 and either(i)no taxpayer having filed an appeal within <br /> the twenty (20) day time period described in Minnesota Statute Section 469.105, Subd. 3; <br /> or(ii) the time periods during which a taxpayer may appeal the District Court's decision <br /> having expired, on or before the Date of Closing. <br /> Buyer must use commercially reasonable efforts to satisfy the contingency described in Section <br /> 18(a)on or before 12:00 noon on March 11`h, 2013,the date of Seller's Board's regularly <br /> scheduled meeting(the"Contingency Date"). If Buyer does not notify Seller, in accordance with <br /> the requirements of Section 23, on or before the date of the Public Hearing that Buyer is <br /> exercising the contingency described in Section 18(a), Buyer's right to exercise the contingency <br /> described in this Section 18(a)terminates, and the Parties must proceed pursuant to the other <br /> provisions of this Agreement. <br /> 6 <br />
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