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0 "Infrastructure Work"). Through this Agreement and the Closing, Purchaser shall receive the <br />value of 38.23 acres of fully remediated land. Seller shall also spend another $1,600,000 in site <br />improvements to road, water, storm sewer, sanitary sewer, lighting, curbs and new roadways. <br />EPA remediation of the site has already been completed. The Commitment to perform the <br />Infrastructure Work shall be deemed a representation and warranty which shall survive the <br />Closing of the Property. Purchaser shall retain 12.04 acres of the land for the future relocation of <br />Purchaser's Operations/Administration/Maintenance facility and lease back 26.19 acres of <br />unused land back to Seller for $200,000 per year for 20 years as provided herein. <br />4. Date of Closing. The Closing of this purchase shall take place at the offices of <br />Meridian Title Corporation, 10th Floor, KeyBank Building, South Bend, Indiana or at such other <br />place mutually agreeable to the parties no later than December 1, 2008, or such other date as is <br />agreed to by the parties. Upon execution of this Agreement, Purchaser shall provide Seller with <br />an earnest money deposit of One Million .Dollars ($1,000,000.00) (the "Earnest Money <br />Deposit"). At Closing, Purchaser shall pay to Seller the Purchase Price less the Earnest Money <br />Deposit. <br />5. Obligations of Parties at Closing. At the Closing, the parties hereby shall satisfy <br />and perform the following: <br />A. Seller shall: <br />(1) Deliver a general Quit-Claim Deed conveying marketable title to <br />the Property to Purchaser, subject to those items which are set forth in this Agreement as to <br />which Purchaser has agreed shall be part of the title which Purchaser accepts at the Closing, and <br />also subject to all leases, covenants, easements, restrictions and agreements with the South Bend <br />Department of Redevelopment including but not limited to the South Bend Central Development <br />Area Plan and the lien of non-delinquent taxes, zoning ordinances and building codes. <br />(2) Provide a fully insured Closing through the Title Company (as <br />hereafter defined) at the expense of Purchaser and Seller who shall equally share the insured <br />closing expense, at which Title Company shall markup and agree to insure marketable title in <br />Purchaser subject only to Permitted Exceptions (as hereafter defined) effective as of the moment <br />2 <br />