Res 2001-150 - Laserfiche WebLink

Home Browse Search

parkland/greenspace or mitigation property in connection with the Wonder World Drive Extension Project for any reason (including, without limitation, the physical condition or geology of the Property, the characteristics of wildlife on the Property, or any environmental condition on the Property, whether or not the condition requires remediation), the Buyer may terminate this Contract by delivering to the Seller written notice of termination on or before 5:00 P.M. on December 12,2001 (the "Termination Date"). The period from the Effective Date through the Termination Date is called the "Review Period". The Buyer may shorten the Review Period by delivering a written notice to this effect to the Seller. C. If the Buyer terminates this Contract pursuant to this section, the Title Company shall return the Earnest Money to the Buyer, at the Buyer's request, and both the Buyer and Seller will execute a release provided by the Title Company. For the purpose of this subsection, notice of termination shall be deemed delivered if sent by the Buyer by facsimile to the Seller at the fax number set forth below within the time period stated, with a copy sent as provided in section 12 of this Contract. Upon delivery of notice of termination, neither party will have any further rights, liabilities or obligations under this Contract. D. For so long as this Contract is in effect, the Seller grants to the Buyer, its agents, employees and representatives, the right to enter upon the Property for the purpose of inspecting the Property and conducting soil, subsoil and such other tests as may be reasonably required by the Buyer. The Seller agrees to cooperate with the Buyer in allowing the Buyer, its agents, representatives, employees and persons with whom it contracts, and representatives of agencies to which the Buyer has applied for grant funding, to have access to the Property for the purpose of conducting such studies or investigations, upon reasonable notice to the Seller. The Buyer agrees to hold the Seller harmless from any claims, costs or suits that may arise from entry onto the Property by the Buyer, its agents, employees and representatives. The Buyer will notify the Seller in advance of each entry of the Property, including the date and time of entry and the identity of the persons who will enter the Property. 5. SURVEY AND TITLE COMMITMENT. A. Survey. The Buyer will deliver to the Seller and the Title Company a copy of a current on- the-ground survey (the "Survey") of the Property made by a licensed surveyor acceptable to the Seller before the expiration of the Review Period, at the Buyer's expense. If the survey exception to the title policy (except as to shortages in area) is to be deleted, the additional expense for the deletion will be paid by the Buyer. If the Buyer does not exercise its right to terminate this contract during the Review Period, the Seller will reimburse the Buyer $2,000 towards the cost of the Survey. The Survey will include: 1. the actual boundaries and dimensions of the Property; C:\TEMP\CG EMK.doc