03-26-07 Item7H, Resolutino 07-39 Wildlife Corridor Transfer

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(d) ensure purchaser has committed sufficient funds to accomplish the necessary response actions with in the agreed to timeframe (e) provide that the Federal agency responsible for the property subject to transfer (Department of the Army) will submit a budget request to the Director of the Office of Management and Budget that adequately addresses schedules for investigation and completion of all retained response actions, subject to congressional authorizations and appropriations. The Certificate of Completion for environmental remediation from the State shall be the instrument for GSA to execute and deliver the new Deed with the CERCLA warranty. 28. PAYMENT. The Goverrunent, the Purchaser or its assignee shall conduct environmental remediation activities on the Property in order to redevelop the Property consistent with the Framework Vision and to enhance the economic benefit of the region. The Goverrunent also acknowledges that it is responsible for the remediation of the Property in accordance with applicable laws and regulations. While the Army is ultimately responsible for ensuring that any and all necessary response actions are taken at the Property for releases that are attributable to the Army, it is anticipated that the Purchaser or its assignee will perform the majority, if not all, of the response actions necessary pursuant to the RAA. The RAA shall be executed to specify the remediation activities necessary to achieve regulatory closure. The cost of all approved remediation activities undertaken by the Purchaser or its assignee shall be credited against the purchase price upon acceptance of the work by the appropriate regulatory officials. Due to the ongoing remediation, a Memorandum of Agreement may be made and entered into by the Army and the Purchaser or its assignee and delivered at closing in order to set forth the terms and conditions governing the interaction ofthe Army and the Purchaser or its assignee relating to property management, environmental response actions, and other matters. 29. RIGHT TO CURE. In the event a party hereto fails to observe or perform any of its obligations under this Offer, after having been provided written notice and failing to cure the default within sixty (60) days, the other party will be entitled to exercise any and all of the remedies for breach which are provided for herein. 30. PROPERTY DESCRIPTION. The Property consists of approximately 585 acres containing several structures, utilities and specialized infrastructure. The Framework Vision sets forth three distinct parcels: a 458-acre development parcel, a 49-acre wildlife corridor (the "Wildlife Corridor") and a 78-acre athletic field (the "Athletic Field"). A boundary survey, drawing number 19-05A was completed 8-17-05 and is attached as Exhibit A, which includes the legal description of the Property. 31. WILDLIFE CORRIDOR AND ATHLETIC FIELD PARCELS. In accordance with the Framework Vision, the Wildlife Corridor and Athletic Field have been rendered economically unviable for development. The Government and Purchaser have recognized this in the valuation of the Property as a whole. The Purchaser or its assignee will be required to remediate the Wildlife Corridor and Athletic Field prior to the use of either parcel for public purposes. The specific location of the Wildlife Corridor and Athletic Field will be determined 8