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Res 2014-113/Approving a contract with Aurelius, Ltd., a Texas Limited Partnership, for the City to purchase approximately 6.97 acres of land, being part of Farm Lots 25 and 26 out of the Original Town of San Marcos and located along Cm Allen Parkway at
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Res 2014-113/Approving a contract with Aurelius, Ltd., a Texas Limited Partnership, for the City to purchase approximately 6.97 acres of land, being part of Farm Lots 25 and 26 out of the Original Town of San Marcos and located along Cm Allen Parkway at
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1/22/2015 3:49:49 PM
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8/26/2014 9:58:01 AM
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Resolutions
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Approving
Number
2014-113
Date
8/19/2014
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a. Buyer may not interfere in any material manner with existing operations <br />or occupants of the Property; <br />b. Buyer must notify Seller in advance of Buyer's plans to conduct tests so <br />that Seller may be present during the tests; <br />C. if the Property is altered because of Buyer's inspections, Buyer must, to <br />the extent reasonably practicable, return the Property to its preinspection <br />condition promptly after the alteration occurs; <br />d. Buyer must deliver to Seller copies of all inspection reports that Buyer <br />prepares or receives from third -party consultants or contractors within 15 <br />days after their preparation or receipt; <br />e. Buyer must abide by any other reasonable entry rules imposed by Seller; <br />f. Buyer shall employ only trained and qualified inspectors and assessors; <br />and <br />g. Buyer shall make appointments with Seller, if any, in <br />advance of when the inspectors or assessors will be on the Property. <br />Buyer shall not alter the physical condition of the Property except as provided in the preceding <br />part of this paragraph. Buyer shall bear all risks and pay all costs associated with such <br />inspections and tests, and shall allow no lien or claim of any nature whatsoever to attach to the <br />Property as a result of such inspection or test. Buyer agrees, to the extent permitted by law, to <br />defend, indemnify, and hold Seller and the party in possession of the Property harmless <br />from all claims, costs, damages, and expenses (including reasonable attorney's fees) of any <br />nature whatsoever arising out of or pertaining to such inspection or test, but the foregoing <br />indemnity shall not apply to any matters which are merely discovered by Buyer during the <br />course of its inspections. <br />3. The results of all studies, tests and investigations of the Property conducted by <br />Buyer are referred to herein as "Property Condition Reports." Buyer, its agents, consultants, and <br />employees, shall not disclose any Property Condition Report to any third party or the attorneys or <br />engineers of Buyer without Seller's prior written approval, unless Buyer is legally compelled or <br />obligated to make such disclosure. This prohibition shall survive any termination of this <br />Contract. All Property Condition Reports may be disclosed by Buyer as Buyer determines after <br />the closing of the purchase of the Property by Buyer. Seller shall not disclose any Property <br />Condition Report to any third party, except for Seller's attorney, without Buyer's prior written <br />approval, unless Seller is legally compelled to make such disclosure; provided, however that <br />Seller may use the Property Condition Reports for any purpose, and disclose and distribute them <br />as Seller wishes if this Contract terminates without a closing of the transaction contemplated <br />hereby for reasons other than Seller's default. <br />4. Buyer's Right to Terminate. Buyer may terminate this contract for any reason by <br />
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