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8A, Presbyterian Homes TIF
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12-20-10 Special City Counicl Meeting
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polychlorinated biphenyls, asbestos, petroleum products and vario�s constituents of suc� <br />products, urea farmaldehyde and related substances. <br />{ii) Stora e Tanks. Developer is not aware of any underground storage tanks located <br />on or in the Triangle ParceI, but ackr�owledges its obligation to remove any tanks disclosed by <br />any en�ironmental repor�s ar investigations by tne Ciry, in accordance with paragraph {d) af this <br />Sec#ion. <br />{ii�) Pendin �,itigation. There is �io condemnation or other litigation presentty <br />pending or, to Developer's knowledge, un�er consideration by any parly affecting, directly or <br />indirectly, the Triangle Parcel. <br />{i�) Governinental Action. Developer has not received notice of any action, suit or <br />proceeding instituted by any person or e��tity against or affecting #he Triangle Parcel before any <br />federai, state, municipa] or other governmental authority, inc�uding without limita#ion r�otice of <br />any conc�em�aiion or taking for any public right-of way or �ztiIity. <br />{v) Authorization. Deve�oper is the soie owner of the Triangle Aarcel, and has the <br />right, power and capacity to enter into this Section o� this Agreernent, to consuznrnate the <br />transac#ions cantemplated 3�ereby; and to comply with the terms; conditions .and provisions <br />hereo�: <br />(vi} Condition of Triangle Parcel. Developer has received no notice, order or other <br />comrraunication from any governrnenta] bady �aving jurisdiction over the Triangle Parce] <br />requiring any improvement to or alteration of the Triangle Parcel which has not been remedied, <br />and Developer agrees to give Buyer prompt writEen notice of any such comm�nicatior� received <br />on or prior to Closing Date. <br />(�ii) WeIIs/Septic 5, sy tems. De�eloper either certifies and warrants that it is not aware <br />of the existence of any wells on the Triangle Aarcel within the rr►eanii�g of Minn. Stat. § 1031.405, <br />or if cannot provide such certification and warranty, will at or before Closing provide a we11 <br />disclosure staternent ir� accordance with Minnesota Statues, Section 103I235. Developer is not <br />aware of any ir�dividual sewage treatment system on the Triangle Parcel within the mea�ing of <br />Minn. Stat. § 115.55. <br />(�iii) Ri�ht to SeIi. Deveioper has nat entered into any other unterminated contracts <br />far the sale of the Triangle Aarcel, is not aware of any rights of first refusal or options to purchase <br />the Triangle Parcel, and consummation of the sa}e wil] not violate the provisior�s of any <br />governmental regulation or iaw applicable ta De�etoper, nor of any agreement or instrument by <br />which Developer is baund_ <br />(ix) Parties in Possessron. There will be no tenants or other parties in possession or <br />with the right to possession of the Triangle Parce� on the Closing Date. <br />(g}. Developer Duties Before Cl�sirrg. At alI times pr'ior to Closing, Developer shall compiy <br />with the following: <br />(i) Except for demalition, clearance and seeding, De�eloper shail maintain the <br />Triangle Parcel in the same condition as in existence on the date hereof and sha�l comply at al1 <br />�irnes with all applicable codes and ordinances; <br />3�a9�ovto s�� axzoa-�o X � <br />
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