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6.B.(5) Real Estate Purcahse and Site Work Agreement
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6.B.(5) Real Estate Purcahse and Site Work Agreement
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10/1/2010 12:10:58 PM
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4/1/2009 12:19:25 PM
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(iii) Except for this Agreement, Public Entities are not a party to any <br />agreement to convey the Oliver Park Site, nor has Company sold, granted or <br />otherwise agreed to sell or grant any party an existing option, right or commitment <br />related to the sale of the Oliver Park Site. <br />(iv) At Closing, Company and Public Entities shall enter into a form of <br />Access and License Agreement in the form attached as Exhibit G for Public <br />Entities' continued access to the Oliver Park Site to perform groundwater <br />monitoring activities. <br />(b) By Company. Company represents and warrants to Public Entities the <br />following matters regarding Company and the Prairie Avenue Site: <br />(i) Company has full power and authority to enter into and carry out <br />the terms and provisions of this Agreement and the transactions contemplated <br />hereby. Each of Company's execution, delivery and performance of this <br />Agreement and all other agreements or instruments contemplated hereby, <br />including the assignment, transfer, conveyance and delivery of the Prairie Avenue <br />Site and its sale of the Prairie Avenue Site, will be the legal, valid and binding <br />obligations of Company enforceable in accordance with their terms. <br />{ii) Company has not received notice of any action, temporary <br />restraining order, injunction, suit, proceeding, inquiry or investigation at law or in <br />equity, or before or by a judicial or administrative court or agency, relating to the <br />Prairie Avenue Site, including but not limited to the United States Environmental <br />Protection Agency, relating to hazardous substances or hazardous wastes having <br />been placed, held, located, released, disposed, stored or dumped on or at the <br />Prairie Avenue Site. <br />(iii) Except for this Agreement, Company is not a party to any agreement <br />to convey the Prairie Avenue Site, nor has Company sold, granted or otherwise <br />agreed to sell or grant any party an existing option, right or commitment related to <br />the sale of the Prairie Avenue Site. <br />(iv) Except as set forth in Schedule 6(b)(iv), Company has no <br />knowledge of any environmental condition or contamination that would require the <br />Company to notify local, state or federal agencies in connection therewith. <br />7. Covenants. <br />(A) Prairie Avenue Site. With regard to any contamination <br />which may exist at the Prairie Avenue Site as a result of a release of a <br />hazardous substance or petroleum occurring prior to the date of closing, <br />the Public Entities agree that, except as required by local, state or federal <br />law, they will not report any existing contamination or seek to have the <br />U.S. Environmental Protection Agency ("EPA"), or the Indiana <br />Department of Environmental Management ("IDEM") inspect the Prairie <br />Avenue Site; provided, however, that nothing herein shall prohibit the <br />Public Entities from applying for or receiving any local, state or federal <br />REAL ESTATE PURCHASE AND SITE WORK AGREEMENT PAGE 6 <br />
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