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6D (4)
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07-26-11 Packet
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6D (4)
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11/1/2012 2:07:43 PM
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7/22/2011 2:31:45 PM
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Commission shall provide Company access to the premises in order for Company to conduct an <br />inspection before proceeding with this transaction to purchase the Property. The Company shall <br />conduct such inspection within sixty (60) days of the date of this Agreement, and by proceeding <br />to close this transaction the Company shall have completed to its satisfaction its own <br />investigation of the Property and has chosen to rely exclusively on its own inspections of the <br />Property. However, after the inspection of the Property and before Closing, Company shall have <br />the right, in its sole and subjective discretion, to either (i) terminate this Agreement by providing <br />Commission written notice of its decision to terminate; or (ii) waive any such matters which may <br />arise as a result of this inspection. <br />After Closing, the Company assumes liability for the condition of the Property from and <br />after the date of Closing. The Commission retains liability for the condition of the Property prior <br />to the date of Closing. Neither party is indemnifying the other regarding the condition of the <br />Property. <br />(b) Use the Property consistent with electronic data storage, transmission, and <br />disaster recovery purposes consistent with the IPPUD. This use shall be supported by the <br />construction of a no less than 45,000 square foot and no more than 55,000 square foot facility <br />consistent with the architectural guidelines of the IPPUD, with the capability of expanding an <br />additional 40,000 square feet. <br />(c) Convey back the Property to the Commission ( "the Reconveyance ") in the event <br />it (i) fails to obtain a Building Permit within six (6) months after the date of this Agreement <br />consistent with paragraph 6(b) above; and (ii) fails to develop the Property pursuant to paragraph <br />6(b) above within three (3) years of the date of this Agreement. As part of the Reconveyance, <br />the Commission will pay to the Company the cash amount of the purchase price herein. <br />In the event Company satisfies conditions (i) and (ii) above, the Commission shall <br />execute and record a release in a form reasonably satisfactory to Company contained in the <br />Limited Warranty Deed. <br />(d) Not discriminate on the basis of race, color, creed, sex, or national origin in the <br />sale, lease, rental, use or occupancy of the Property. <br />(e) Prior to the construction of any improvements on the Property, submit to the <br />Commission any and all design plans for approval by the IPPUD Architectural Design <br />Committee, whose approval will not be unreasonably withheld or delayed. However, the <br />Company further agrees to submit a design plan which will include a water feature and office <br />curtain wall as depicted in the illustration attached hereto and made a part hereof as Exhibit "D ". <br />The water feature and office curtain wall are hereafter known as "Enhancement Number I". <br />The Commission shall provide construction drawings, at its cost, for the super structure <br />canopy extensions and wrap- around to hide rooftop mechanicals as depicted on Exhibits "D -I" <br />and "D -2" hereafter known as "Enhancement Number 2 ". <br />2 <br />
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