CCP 06-02-2014 - Laserfiche WebLink

Home Browse Search

(i) Easement for Access. At Closing, the City and the Owner will execute a permanent easement providing the City the permanent right to access the Redevelopment Property to monitor landfill gas and to maintain, install, repair, exterior vapor monitoring points, all as further described in the RAP and in the Environmental Reports; provided, however that such easement will terminate at such time as the City no longer has any obligation to monitor landfill gasps, Such easement shall provide that the City will not unreasonably interfere with the -_- Owner's use of Redevelopment Property and contain such other terms as may be reasonably acceptable to Owner and City in the form attached hereto as Exhibit P (the "Monitoring Easement Agreement"). 0) Environmental Covenant and Easement. The MPCA, in its correspondence dated May 8, 2014, approved the RAP subject to several conditions, including a condition that an Environmental Covenant approved by the MPCA as provided under the Uniform Environmental Covenants Act, Minn. Stat. Chap 114E be recorded against title to the Redevelopment Property. The Redeveloper and the Owner shall be jointly and severally responsible for assuring that an approved Environmental Covenant is recorded as and when required by the MPCA against the Redevelopment Property. The Redeveloper and the Owner shall provide the City with a draft copy of the Environmental Covenant against the Redevelopment Property for the City's review and approval not later than thirty (30) days prior t completion of the Minimum Improvements or such earlier date as may be required by the MPCA. The Environmental Covenant shall be substantially in the form set forth as Exhibit N attached hereto. The parties agree that the failure of either the Redeveloper or the Owner to complete its responsibilities under this sub - section 4.10) shall be deemed an Event of Default hereunder. Section 4.2. Conditions Precedent to Conveyance. (a) The obligations of the City to convey the relevant portion of the Redevelopment Property at Closing shall be subject to the following conditions: (1) The Owner shall be in material compliance with all of the terms and provisions of this Agreement as of the Closing Date; (2) The Owner shall have paid the Purchase Price on the Closing Date; and (3) Each of the Owner's representations and warranties set forth in Section 2.3 shall be true as of the Closing Date in all material respects. (b) The obligation of the Owner to purchase the Redevelopment Property at Closing shall be subject to the following conditions (collectively, the "Owner's Closing Conditions "): (1) The City shall be in material compliance with all of the terms and provisions of this Agreement as of the Closing Date; (2) Each of the City's representations and warranties set forth in Section 2.1 shall be true as of the Closing Date in all material respects. 16 Deleted: or to maintain, install, repair, exterior vapor monitoring points under the RAP Deleted: after th Deleted: e