Res 2018-201/approving a Real Estate sales contract with Life Style Development, L.L.C. for the sale of approximately 29 acres of city land commonly known as the “Leah” Tract near IH-35 and Cottonwood Parkway for a price of $3,114,317.15

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G. Inspection Period L Revievi, of'.5ellers Records. Seller will deliver to Buyer copies of Seller's records I I I specified in Exhibit C, or otherwise make those records available for Buyer's review, by the deadline stated in paragraph A.7, 2. Entry onto the Pro.per(y. Buyer May enter the Property before Closing to inspect it at Buyer's cost, subject to the following: Buyer must deliver evidence to Seller that Buyer, or Buyer's consultants and contractors, have liability insurance for its proposed inspection activities, with coverages and in amounts that are reasonably satisfactory to Seller. b. Buyer must notify Seller in advance of Buyer's plans to conduct tests so that Seller may be present during the tests, C. If the Property is physically altered because of Buyer's inspections, Buyer must return the Property to its preinspection condition promptly after the alteration occurs. d. Buyer must deliver to Seller copies of all inspection reports that Buyer prepares or receives from third -party consultants or contractors within five days after their preparation or receipt. C. Buyer must abide by any other reasonable entry rules imposed by Seller. 1 Environmental Assessrnent. Buyer has the right to conduct environmental assessments of the Property. Seller will provide, or will designate a person with knowledge of the use and condition of the Property to provide, information requested by Buyer or Buyer's agent or representative regarding the use and condition of the Property during the period of Seller's ownership of the Property. Seller will cooperate with Buyer in obtaining and providing to Buyer or its agent or representative information regarding the Property. 4. Buyers Right to Terininale, Buyer may terminate this contract for any reason by notifying Seller before the end of the Inspection Period. If Buyer does not notify Seller of Buyer's termination of the contract before the end of the Inspection Period, Buyer waives the right to terminate this contract pursuant to this provision, 5. Bzzyer '15 Indeninily and Release of'Seller a. Indeinnity� Buyer will indemnify, defend, and hold Seller harnaless from any loss, attorney's fees, expenses, or claims arising out of Buyer's investigation of the Property, except those arising Out of the acts or orrilssions of Seller and those for repair or remediation of existing conditions discovered by Buyer's inspection. The obligations of Buyer under this provision will Survive termination of this contract and closing.