CCP 06-02-2014 - Laserfiche WebLink

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Owner shall have the right to enter the Option Property (or portion thereof) at reasonable times for the purpose of inspection pursuant to the terms of Section 4.1(d), above. 0) Each "Option Property Closing" shall take place at the offices of the Title Company unless the parties mutually agree in writing that such Option Property Closing shall take place at another location. The Closing shall occur within sixty (60) days of the City being provided the Option Notice ( "Option Property Closing Date "). The Owner shall take possession of such portion of the Option Property on the applicable Option Property Closing Date. (k) Real estate taxes due and payable prior to the applicable year of Option Property Closing shall be paid by the City. Real estate taxes due and payable in the applicable year of Option Property Closing shall be allocated between the parties based on their respective period of ownership in the year of Option Property Closing. Real estate taxes due and payable in the years subsequent to the Option Property Closing shall be paid by the Owner. The City shall pay all special assessments deferred, pending or levied as of the Option Property Closing Date. The Owner shall pay all special assessments levied after against the Option Property after the Option Property Closing Date. The Owner shall bear all costs of recording the Redevelopment Option Property Deed except as set forth below. The City shall pay the State deed tax due in connection with conveyance of the Option Property and shall pay the cost of recording any document necessary to place title in the condition described in this Agreement. The City will pay all costs of the Option Commitment and the fees charged by the Title Company for any escrow required regarding the Objections or the Registration Proceeding. The City and the Owner will each pay one half of any reasonable and customary closing fee or charge imposed by any closing agent designated by the Title Company. Each party shall pay all sums in cleared funds on the Option Property Closing Date. (1) The Owner shall pay all costs for plats, replats, lot splits, preparation of restrictive covenants, easements and any other documentation necessary for the construction of the Expansion Improvements and all costs of recording any such documents. Owner will adhere to normal and customary site and building plan review requirements including the payment of normal and customary fees including park dedication fees as required by City Code. Owner shall obtain and pay for any necessary variances, rezoning, subdivision, platting, plat amendment and any other documentation for the construction of the Expansion Improvement (m) At Closing, the City and the Owner will execute a permanent easement providing the City the permanent right to access the Option Property to monitor landfill gas and to maintain, install, repair, exterior vapor monitoring points, all as further described 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 gases_ Such easement Shall-pro-Vide- that_the __. ----------------- - - - -- Deleted: or to maintain, City will not unreasonably interfere with the Owner's use of the Option Property and contain install, repair, exterior such other terms as may be reasonably acceptable to Owner and City in substantially the form vapor monitoring points attached hereto as Exhibit P. under the RAP. Deleted: (n) An Environmental Covenant approved by the MPCA as provided under the Uniform Environmental Covenants Act, Minn. Stat. Chap 114E must be recorded against title to the Option Property, if required by the MPCA. The Owner shall be responsible for assuring that an approved Environmental Covenant against the Option Property is recorded as and when 23