CCP 06-26-2006 - Laserfiche WebLink

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terminate this Agreement by giving written notice to Seller in which event this Agreement shall become null and void, Seller shall refund the Earnest Money and neither party shall have any further right or obligation hereunder. . 4. Survev. Purchaser, at its sole cost, shall prepare a survey for the Real Property and may enter upon the Real Property for such purpose. Purchaser shall hold Seller harmless from any liability resulting solely from the entering upon the Real Property or the performing of any of the functions necessary to prepare a survey pursuant to this Section 4 (the "Survey"). Purchaser shall provide Seller with a copy of the Survey. 5. Inspection. Purchaser, its agents and designees, are hereby granted the right at any time or times after the date hereof to inspect, analyze, and test the Real Property and its various components. Purchaser shall hold Seller harmless from any liability resulting solely from the entering upon the Real Property or the performing of any of the tests or inspections referred to in this Section 6 by Purchaser, its agents or designees. 6. "AS IS" Condition. The Real Property described herein is being sold in an "AS IS" condition. Purchaser acknowledges that it reviewed the Demolition Survey Report attached as Exhibit B; the Wetland Delineation Report attached as Exhibit C; the Environmental Condition Report, attached as Exhibit D; and has inspected the . Real Property. As part of the consideration for the purchase of the Real Property, Purchaser, at its sole cost, will undertake any remediation procedures required by the Minnesota Pollution Control Agency or otherwise, as necessary, to remove any Hazardous Substances (as hereinafter defined), if any, from the Real Property and shall indemnify and hold the City harmless from the payment of any such costs. 7. Covenants and Warranties of Seller. Seller covenants and warrants to Purchaser as follows: 7.1 Ownership of Real Property. Seller is the owner of good, marketable, and insurable fee title to the Real Property free and clear of all title defects, options, rights of first refusal, easements, restrictive covenants, encroachments, survey defects, restrictions or limitations on the Real Property, liens or encumbrances, except those of record. 7.2 Encroachments. There are no encroachments upon any of the Real Property and no portion of any Improvement encroaches upon any property not included within the Real Property, or upon the area of any easement affecting the Real Property, except those of record. 2 .