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2000-03-08 Packet
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2000-03-08 Packet
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Man 3. 2933 9:18AM No 9E45 P! 4 <br /> (d) Testing. Buyer shall have determined, on or before the Contingency Date, that it <br /> is satisfied with the results of and matters disclosed by soil tests, engineering <br /> inspections, hazardous waste and environmental reviews of the Property, <br /> including, but not limited to, Buyer having determined, in its sole and absolute <br /> discretion, that it is comfortable with the environmental condition and <br /> remediation of the Property based upon its investigations and contact with any <br /> and all applicable governmental agencies, including but not limited to the <br /> Minnesota Pollution Control Agency, and its approval of the current Limited Site <br /> Investigation being conducted through the Minnesota Pollution Control Agency. <br /> (e) Document Review. Buyer shall have determined, on or before the Contingency <br /> Date, that it is satisfied with its review and analysis of the Contracts, Permits, <br /> Warranties, Plans, Records and Permitted Encumbrances. <br /> (f) Government Approvals. Buyer chall have obtained at its sole cost and expense on <br /> or before the Closing Date all final governmental approvals necessary in Buyer's <br /> judgment in order to make the use of the Property which Buyer intends. <br /> (g) $ nvironmental Indemnification. Buyer shall have received from Seller an <br /> indemnification for any existing environmental contamination and remediation <br /> required for all environmental contamination existing as of the Closing Date, in a <br /> form satisfactory to Buyer, in Buyer's sole and absolute discretion. <br /> The "Contingency Date" shall be that date which is 90 days after the date when Buyer chap have <br /> received the last of the matters which Seller is required to deliver to Buyer hereunder. If any <br /> such Contingency has not been satisfied on or before the stated date, then this Agreement may be <br /> terminated, at Buyer's option, by written notice from Buyer to Seller. Such notice of termination <br /> may be given at any time on or before the Closing Date. Upon such termination, the Earnest <br /> Money and any interest accrued thereon shall be released to Buyer and upon such return, neither <br /> party will have any thither rights or obligations regarding this Agreement or the Property. All <br /> the Contingencies set forth in this Agreement are specifically stated and agreed to be for the sole <br /> and exclusive benefit of the Buyer and the Buyer shall have the right to unilaterally waive any <br /> Contingency by written notice to Seller. <br /> 4. Closing. The closing of the purchase and sale contemplated by this <br /> Agreement (the "Closing ") shall occur on , 2000 (the "Closing Date"). The <br /> Closing shall take place at 9:00 a.m. local time at the office of Title or at such other place as may <br /> be agreed to. Seller agrees to deliver possession of the Property to Buyer on the Closing Date. <br /> A. Seller's Closing Documents. On the Closing Date, Seller shall execute and/or <br /> deliver to Buyer the following (collectively "Seller's Closing Documents "): <br /> (1) peed. A Warranty Deed, in form reasonably satisfactory to Buyer, conveying the <br /> Real Property to Buyer, free and clear of all encumbrances, except the Permitted <br /> Encumbrances hereafter defined. <br /> 3 <br />
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