Res 1994-191 - Laserfiche WebLink

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-3- It, 7d 5. Special Provisions 5.01 The sale is contingent upon the Purchaser's approval and execution of a grant agreement with the Texas Parks and Wildlife Department for the San Marcos Park and Wildlife Habitat Phase 1/ project in the amount of at least $253,375 within 30 days of the date of this agreement. The Seller agrees to execute all documents necessary to the processing of the Purchaser's grant application and reimbursement requests to the Texas Parks and Wildlife Department. 5.02. The sale is also contingent upon Southwest Texas State University Support Foundation receiving the property as a gift. 5.03. Neither party is obligated to complete this transaction unless both these contingencies occur. 5.04. This contract is also subject to the obtaining by Purchaser of a report within . 30 days after the date of this contract from a qualified firm based on a preliminary environmental site assessment regarding the presence of building improvement or site conditions requiring environmental remediation under applicable federal, state or local laws. Seller shall pay 50% (not to exceed $3,750) towards the cost of this report, but shall be entitled to reimbursement of this cost from the Purchaser in the event Purchaser cancels this contract without cause. Should the report identify required remediation, Seller may choose to fully perform such remediation at its sole expense prior to closing, or Seller may cancel this contract. If Seller chooses to perform the remediation, Seller shall provide, at Seller's expense, a report to Purchaser prior to the Closing Date from a qualified firm verifying the results of the remediation. 5.05. If any part of the property, including the Rio Vista Dam, is damaged before the time of the closing, the Seller will either repair the property to its previous condition and function, insofar as practicable, prior to the closing, or Seller may terminate this contract