2004-03-10 CC Meeting - Laserfiche WebLink

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I I I I I Mar. 4. 2004 11: 59 AM BARNA GUZY & STEFFEN LTD No.799B P.5 5.2 Environmental. To the best of Seller's knowledge, information and belief, no toxic or hazardous substances or wastes, pollutants or contaminants (including without limitation, asbestos, urea formaldehyde, the group of organic compounds known as polychlorinated biphenyls, petroleum products including gasoline, fuel oil, crude oil, and various constituents of such products, and any hazardous substance as defined in the ComprehelL'live Environmental Response, Compensation and Liability Act of 1980 ("CERCLA"), 42 U.S.c. S 8601-9657, as amended) have been generated, treated, stored, released or disposed of, or otherwise placed, deposited in or located on the Property or in the grolUld water thereunder. 5.3 Leases I Options. Seller represents that there are no leases or options to purchase the Real Property. ARTICLE VI REPRESENTATIONS AND WARRANTIES OF BUYER Buyer represents and warrants to Seller, as of the date hereof and as of Closing, that: 6.1 Authority. The Buyer has full power and authority to execute, deliver and perform its obligatiolL'l under this Agreement and all documents to be executed by the Buyer in connection with the transaction contemplated thereby and delivery and performance has been obtained. 6.2 Enforceabilitv. This Agreement and all documents to be executed by Buyer in connection with the transactions contemplated hereby are, and upon the due execution and delivery by the parties thereto will be, legal, valid and binding obligations of the Buyer enforceable against Buyer in accordance with their respective terms. ARTICLE VII CONDITIONS PRECEDENT TO O:BLIGATIONS OF S:E.LLER The obligations of Seller to consummate the transactions contemplated by this Agreement shall be subject, at Seller's option to waive, to the fulfillment of each of the following conditions on or before the dates listed below: 7.1 This offer is contingent upon approval by the CenterviIle City Council for a period'ofsixty (60) days after execUtion of this Purchase Agreement by Buyer. 7.2 This offer is contingent upon the County of Anoka pOnveying this tax forfeit parcel of real property to the Seller. If any such contingency has not been satisfied on or before the. Closin~ Date, then this Agreemen.t may be terminated, at Seller's option, by written notice from Seller to Buyer. Such notice of termination may be given at any time on or before the Closing Date. Upon such termination, neither party will have any further rights or obligatiolL'l regarding this Agreement or the Property, all Earnest Money will be returned to Buyer, and the parties shall execute a written -4-