6.B.(5) Real Estate Purcahse and Site Work Agreement

Home Browse Search

(i) Public Entities shall not be in default under any of the terms and conditions contained in this Agreement, and all representations and wan~antics contained herein shall be true and correct as of the date of this Agreement, and as of the date of Closing; (ii) At Closing, Public Entities shall have agreed to enter into the form of UPV Lease Agreement attached hereto as Exhibit E with UPV; (iii) At or prior to Closing, the Oliver Park Site shall: (A) constitute a single, self-contained and buildable "lot" for purposes of applicable zoning, subdivision and building laws within the City together with appropriate zoning for the operation of UPV's business on the Oliver Park Site as currently conducted on the Prairie Avenue Site; (B) have an approved access/curb-cut to the cul-de-sac located immediately Southeast of the Oliver Park Site; and (C) have a special exception or other zoning variance granted by the Common Council of the City of South Bend, to permit asphalt paving and outdoor storage on nearly the entire Oliver Park Site as shown on Exhibit C. (iv) Intentionally left blank. 6. Representations and Warranties of Parties. (a) By Public Entities. Public Entities represent and warrant to Company as the following matters regarding Public Entities and the Oliver Park Site: (i) Public Entities have full power and authority to enter into and carry out the teens and provisions of this Agreement and the transactions contemplated hereby. Each of Public Entities' execution, delivery and performance of this Agreement and all other agreements or instruments contemplated hereby, including the assignment, transfer, conveyance and delivery of the Oliver Park Site and its purchase of the Prairie Avenue Site, will be the legal, valid and binding obligations of Public Entities enforceable in accordance with their terms. (ii) Except for a project currently being undertaken pursuant to the Indiana Voluntary Retnediation Program, Public Entities have not received notice of any action, temporary restraining order, injunction, suit, proceeding, inquiry or investigation at law or in equity, or before or by a judicial or administrative court or agency, relating to the Oliver Park Site, including but not limited to the lJnited States Environmental Protection Agency, relating to hazardous substances or hazardous wastes having been placed, held, located, released, disposed, stored or dumped on or at the Oliver Park Site. RIAI_ ESTATE PURCHASE AND SITE WORK AGREEMENT PAGI 5