CCP 10-18-1994 - Laserfiche WebLink

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, ( ( . Page Three September 6, 1994 for Buyer's intended purchase and development of the Property, including negotiation of a Development Agreement with the city of Arden Hills providing economic development assistance acceptable to Buyer for Buyer's intended project. Purchase of Adjoining properties: Negotiate Purchase Agreements, on terms and conditions acceptable to Buyer, for the purchase of the adjoining properties, totalling approximately 70 acres, as identified on the attached property map. All property inspections, surveys, testing or reports will be commissioned by Buyer, solely for Buyer's use, and will be undertaken at Buyer's expense. Seller shall permit reasonable access throughout the Due Diligence Period to Buyer, and Buyer's representatives, to inspect and examine the Property and to conduct soil . and other testing upon the Property. Within the Due Diligence Period, if Buyer, in its sole discretion, determines that the property is not satisfactory for purchase or development by Buyer, then Buyer may terminate the Purchase Agreement. 5. Extension option: The Due Diligence Period may be extended once for up to six (6) additional months upon written request of Buyer, if, at the expiration of the Due Diligence period, Buyer has applied for but has not yet obtained all governmental approvals, permi ts and commitments Buyer deems necessary for Buyer's intended development project. 6. Closing Costs: Seller to be responsible for title insurance abstracting fees, state deed tax, and any corrective title work. Buyer to be responsible for title insurance premium charges for an owner's policy, recording fees for the Contract for Deed, and survey costs. Real estate taxes to be prorated between Buyer and Seller to the date of closing. 7. Closing: The closing would take place within thirty (30) days following the expiration of the Investigation/Due Diligence Period. .