Laserfiche WebLink
<br />the proposed development of the Property. Seller shall pay the costs <br />of soil borings. <br /> <br />(C) Purchaser, at Purchaser's sole cost and expense, inspecting the <br />environmental condition of the Property prior to closing, including <br />environmental, habitat, wetlands and archeological assessments if <br />deen1ed appropriate by Purchaser. If Purchaser's inspection <br />discloses conditions which, in Purchaser's sole discretion, are <br />unacceptable to Purchaser, Purchaser may terminate this Purchase <br />Agreement. <br /> <br />(D) Purchaser, at Purchaser's sole cost and expense, obtaining all <br />necessary approvals for a legal subdivision of the Property from <br />county, local and state authorities to subdivide the Property in accord <br />with Purchaser's development plans. <br /> <br />(E) Seller and Purchaser executing, at or prior to closing, a mutually <br />agreeable Development/Subdivision Agreement, and PUD <br />Agreement, and mutually agreeable site plans, grading plans, utility <br />plans, and landscape plans. <br /> <br />(F) Seller shall extend Terrace Drive to serve the site at Seller's sole <br />costs and expense. However, Seller may request in writing that <br />Purchaser construct the road in conjunction with its planned <br />development of the Property, in which case Seller shall pay <br />Purchaser the costs incurred by Purchaser. <br /> <br />(0) The Purchaser's responsibility for construction and extension of <br />utilities, stormwater management, and construction of public parks <br />and trails in conjunction with the proposed development shall be as <br />provided in the Development/Subdivision Agreement and PUD <br />Agreement referenced in paragraph 3(E) hereof. <br /> <br />(H) Purchaser's satisfaction with the condition of title and satisfaction <br />with easements, covenants and restrictions of record. <br /> <br />4. FAILURE OF CONTINGENCIES: Seller and Purchaser both agree to <br />make a good faith effort to satisfy the aforementioned contingencies and conditions. In <br />the event any of the contingencies and conditions have not been met by the closing date <br />or extensions thereof, or in the opinion of Purchaser will not be met, Purchaser (or Seller <br />in the case of Contingencies (E) and (F)) shall have the right and option to waive any <br />contingency or condition, or to declare this Agreement terminated and have the earnest <br />money paid by Purchaser to Seller, along with any accrued interest, returned to Purchaser <br />forthwith. If Purchaser does exercise its option to declare this Agreement terminated and <br /> <br />2 <br />