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_Redevelopment Commission Agenda & Packet 10.10.24
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_Redevelopment Commission Agenda & Packet 10.10.24
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5 <br />Company on a mutually agreeable date not later than thirty (30) days after the end of the <br />Due Diligence Period. <br />B.Closing Procedure. At Closing, Buyer shall deliver the Purchase Price to Sellers, <br />conditioned on Sellers’ delivery of a warranty deed, substantially in the form attached <br />hereto as Exhibit B, conveying the Property to the Buyer, free and clear of all liens, <br />encumbrances, judgments, title defects and exceptions, except those expressly waived by <br />Buyer, and the Title Company’s delivery of the Title Commitment to Buyer in accordance <br />with Section 5 above. <br />C.Closing Costs. Buyer shall pay the Title Company’s closing fees and all <br />recordation costs associated with the transaction contemplated in this Agreement. <br />D.Conditions Precedent to Closing; Personal Property. Seller discloses that any <br />former fuel tanks, abandoned vehicles, machinery or other items no longer contain fuel or <br />other environmental contaminants at an actionable level. If Buyer’s Due Diligence reveals <br />environmental contaminants where remediation is recommended, Seller is willing to <br />negotiate on proposed solutions. If Seller is unable or unwilling to come to terms with <br />Buyer related to any recommended environmental contaminant mitigation, then Buyer <br />shall have no obligation to complete the transaction contemplated in this Agreement, and <br />Buyer may terminate this Agreement by written notice to the Sellers prior to expiration of <br />the Due Diligence Period. If Buyer chooses to proceed to Closing, all personal property <br />remaining at the Property after Closing will be deemed to be abandoned by the Sellers, and <br />Buyer, in its sole discretion, may choose to exercise possession of and control over any <br />such personal property. <br />E Sellers’ Due Diligence. Sellers acknowledge that Sellers have conducted its own <br />due diligence and acknowledges that the Purchase Price is fair and reasonable and waive <br />any right that Sellers may have to an appraisal or to contest or challenge the validity of <br />compensation received under this Agreement. <br />9.ACCEPTANCE OF PROPERTY “AS-IS” <br />Except as otherwise set forth herein, Buyer agrees to purchase the Property “as -is, where- <br />is” and without any representations or warranties by Sellers as to the condition of the <br />property or its fitness for any particular use or purpose. Sellers offer no such representation <br />or warranty as to condition or fitness, and nothing in this Agreement shall be construed to <br />constitute such a representation or warranty as to condition or fitness. <br />10.TAXES <br />Sellers shall be responsible for all taxes related to the Property accruing through the Closing <br />Date, if any, even if such taxes are not yet due and payable. Buyer, or Buyer’s successors <br />and assigns, shall be liable for all real property taxes accruing against the Property after the <br />Closing Date, if any. <br />11.COMMISSIONS <br />Docusign Envelope ID: D62ECB79-50C8-4137-8DF6-C82F0F5007CD
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