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Res_11487
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2/20/2018 2:49:32 PM
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2/20/2018 2:47:43 PM
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Roseville City Council
Document Type
Council Resolutions
Meeting Date
1/29/2018
Resolution #
11487
Resolution Title
Resolution Approving the Purchase/Sale of Certain Land by the City of Roseville
Resolution Date Passed
1/29/2018
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i <br /> i <br /> parking spaces; (c) show the address, dimensions and location of the Improvements and the height and square <br /> I <br /> footage thereof,(f) show the acreage of the Property;(g)certify the zoning of the Property; (h)show all utility lines <br /> from each Building to its point of connection with the public system; and(i)certify that no portion of the Property <br /> lies within a flood plain. <br /> If requested by Buyer,and if data are delivered to the surveyor regarding wetlands,the Survey will show the <br /> location of any wetlands on the Property. <br /> The Deed to be delivered by Seller to Buyer at the Closing will contain the legal description of the Property <br /> as shown on the Survey and approved by Buyer and'1'itle Company. <br /> 4.4 Intentionally deleted. <br /> 4.5 Tenant Interviews. Seller shall allow Buyer to interview Tenants of the Property;provided however, <br /> that Seller shall receive prior notice of such interview, Seller shall be entitled to participate in that interview, and <br /> Buyer shall make known to such Tenants that Buyer has no right to obligate or commit Seller to any agreements. <br /> 4.6 Environmental Assessment, Within 30 days after the Contract Date,Buyer may obtain,at Buyer's <br /> expense,a current ASTM Phase I environmental site assessment (the"Phase I")for the Property, performed by an <br /> environmental consultant (the"Environmental Consultant") acceptable to and for the benefit of and reliance on by <br /> Buyer,and if requested,Buyer's lender, Buyer will deliver a copy of the Phase I and Phase II as soon as possible <br /> to Seller at no cost to Seller. If the Phase I recommends that a Phase II environmental site assessment(the"Phase <br /> II")be prepared, Buyer will immediately notify Seller and Buyer may continence and agree to pay for the cost of <br /> such Phase II by the Environmental Consultant, provided that Seller shall be given notice and the <br /> opportunity to be present during any Phase II investigation,which investigation shall be subject to the rights <br /> of existing tenants. In no event shall Seller be obligated to commence, on Buyer's behalf, any <br /> environmental remediation which may be recommended by the Phase II Environmental Consultant. <br /> Provided, if any remediation is required and Buyer, in its sole discretion, decides to proceed with the <br /> purchase of the Property, Buyer shall be responsible for paying all costs for any such environmental <br /> remediation. Buyer shall have obtained beformthe Closing Date at its sole cost and expense all final governmental <br /> approvals necessary in Buyer's judgment in order to make the use of the Property which Buyer intends, including <br /> but not limited to federal and/or state approvals with respect to the environmental condition and any remediation or <br /> no-association,no action,or no further action,or related determination concerning the Property. <br /> 4.7 Notice to Proceed. If Buyer, in its sole discretion, decides to proceed with the purchase of the <br /> Property, then Buyer will so notify Seller on or before 5:00 p.m.Central on the Contingency Date(the"Notice to <br /> Proceed") at which time the Earnest Money will become nonrefundable except as otherwise provided herein. If <br /> Buyer,in its sole discretion, decides that it will not proceed with the purchase of the Property, Buyer will on or <br /> before the Contingency Date, give notice to Seller that it is tenninating this Agreement. If Buyer fails to notify <br /> Seller of its decision on or before the Contingency Date, Buyer will be deemed to have notified Seller on the <br /> Contingency Date that Buyer is terminating this Agreement. Buyer's Notice to Proceed will not be deemed per se <br /> to affect or to vitiate Seller's representations and covenants or the conditions precedent to Closing. <br /> Notwithstanding the foregoing, if one or more of the contingencies set forth in this Section 4 has not been <br /> satisfied by the Contingency Date,Buyer may extend the Contingency Date for one 30-day period, as follows: <br /> 4.7.1 Buyer will deliver written notice of theextension to Seller on or prior to the Contingency Date; <br /> Page 8 of 38 <br />
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