5.0. EDSR 10-14-1997 - Laserfiche WebLink

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E. Owner responsibilities 1. Authorize and pay for the following: • Provide evidence of title (abstract or title commitment) • Conceptual preliminary plat • Boundary survey • Soils tests • Phase I environmental study • Permit EDA to install/maintain signs for marketing purposes • Provide any additionally required environmental investigations • Refer potential buyers to EDA • Cooperate with EDA • No private broker listings • Install streets and lateral utilities, as necessary 2. Sell property legally described and depicted on attached exhibits (See Section II) to any cash Buyer found by EDA, or the EDA itself 3. Execute Purchase Agreement in the attached form(See Section III) 4. Sell property for price as set out in Price Schedule attached (See Section IV) 5. Comply with terms of Purchase Agreement F. Termination 1. Termination by X date if certain conditions/goals not met 2. Termination by X date if no infrastructure development has begun - include provision for extension 3. If no Purchase Agreement entered into by X date G. Effect of Termination 1. Rights of parties 2. Allocation of monies H. Exclusivity 1. EDA has exclusive right to sell this property for 24 months. EDA must sell one lot at the end of the 24 month period or Owner may terminate this Agreement. One lot must be sold for each 12 month period thereafter or Owner may terminate this Agreement. If EDA sells more than one lot in a 12 month period, EDA may carry excess sales forward to the next 12 month period(s) with no limitations. I. Brokers' fees 1. Owner will not employ a broker 2. If an end user/buyer has a broker, Owner will pay up to 4% of that broker's fees J. Assignment K. Indemnification L. Parties not partners M. Insurance requirements 111 II. LEGAL DESCRIPTION AND MAP PhillA 525135.2 Page -2-