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No. 2197 rescinding approval of contract for purchase/sale of real estate and approving/authorizing execution of contract for purchase/sale of real estate containing certain revised terms and approving execution of documents
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No. 2197 rescinding approval of contract for purchase/sale of real estate and approving/authorizing execution of contract for purchase/sale of real estate containing certain revised terms and approving execution of documents
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10/18/2012 1:38:05 PM
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3/7/2011 12:12:16 PM
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(1) To the best of its knowledge, there are no Environmental Defects <br />on the Property except as may be outlined on Exhibit D attached hereto and made a part hereof. <br />(2) No lien has been imposed on the Property by any governmental <br />agency at the federal, state, or local level in connection with the presence on or off the Property <br />of any Hazardous Substance; <br />(3) Seller has not: (a) entered into or been subject to any <br />environmentally - related consent decree, compliance order or administrative order relating to the <br />Property; (b) received any request for information, notice, demand letter, administrative inquiry, <br />or formal or informal complaint or claim with respect to any Environmental Defect relating to <br />the Property; or (c) been subject to or threatened with any governmental or citizen enforcement <br />action with respect to the Property. <br />11. Condemnation or Destruction. If prior to the Closing of this transaction, all or <br />any substantial part of the Property is condemned, damaged or destroyed, Purchaser shall have <br />the option of either applying the proceeds of any condemnation award or insurance policies to <br />reduce the total purchase price payable by Purchaser herein or terminating this Agreement by <br />delivering written notice of termination pursuant to this paragraph,to Seller within ten (10) days <br />of the date Seller notifies Purchaser in writing of such condemnation, damages or destruction. <br />12. No Government Notices. Seller warrants that Seller has not received, or is aware <br />of, any notification from any City, County, State or other governmental authority requiring any <br />work to be done on or affecting the Property or expressing an intent to condemn or make special <br />improvements for the benefit of the Property. Seller further warrants that in the event any such <br />notice is received prior to Closing, Seller shall submit such notice to Purchaser for examination <br />and approval. Should Purchaser fail to consent in writing to the action proposed by any such <br />notice within thirty (30) days from the date Purchaser receives such notice, this Agreement may <br />at Purchaser's option be canceled by Purchaser's written notice. <br />13. Assignment. Neither party shall have the right to assign this Agreement without <br />the prior written consent of the other party. <br />W <br />
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