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2015-03-31_HRA_Agenda_Packet
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2015-03-31_HRA_Agenda_Packet
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1/5/2016 8:36:13 AM
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Commission/Committee
Commission/Authority Name
Housing Redevelopment Authority
Commission/Committee - Document Type
Agenda/Packet
Commission/Committee - Meeting Date
3/31/2015
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9a. Attachment A <br /> In addition to the <br />Quit Claim Deed required at paragraph 3B(3) above, Seller shall deliver to Buyer at closing: <br />a. An affidavit from Seller sufficient to remove any exception in Buyer’s policy of <br />title insurance for mechanics’ and materialmens’ liens and rights of parties in <br />possession; <br />b. A “bring-down” certificate, certifying that all of the representations made by <br />Seller in this Agreement remain true as of the Closing Date; <br />c. Affidavit of Seller confirming that Seller is not a foreign person within the <br />meaning of Section 1445 of the Internal Revenue Code; <br />d. Well disclosure certification, if required, or, if there is no well on the Property, the <br />Quit Claim Deed given pursuant to paragraph 3B(3) above must include the <br />following statement: “The Seller certifies that the Seller does not know of any <br />wells on the described real property;” <br />e. Any notices, certificates, and affidavits regarding any private sewage systems, <br />underground storage tanks, and environmental conditions as may be required by <br />state or federal statutes, rules or regulations; and <br />f. Any other documents reasonably required by Buyer’s title insurance company or <br />attorney to evidence that title to the Property is marketable and that Seller has <br />complied with the terms of this Purchase Agreement. <br />Buyer’s obligation to purchase the Property is contingent upon the <br />following: <br />a. Approval of this Purchase Agreement by the governing bodies of Seller and <br />Buyer; <br />b. Buyer’s determination of marketable title pursuant to paragraph 6 of this <br />Agreement; and <br />c. Buyer conducting such environmental investigations on the Property as Buyer <br />deems necessary and receiving reports that are satisfactory to Buyer. <br />Buyer shall have ninety (90) days from the date of approval of this Agreement to remove or <br />waive the foregoing contingencies (the “Due Diligence Period”). These contingencies are solely <br />for the benefit of Buyer and may be waived by Buyer. If Buyer or its attorney gives written <br />notice to Seller that all contingencies are duly satisfied or waived, Buyer and Seller shall proceed <br />to close the transaction as contemplated herein. <br />If one or more of the contingencies is not satisfied, or is not satisfied within the Due Diligence <br />2 <br />458632v2 MNI RS275-9 <br /> <br />
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