CCP 06-02-2014 - Laserfiche WebLink

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required by the MPCA. The Redeveloper and the Owner shall provide the City with a draft copy of the Environmental Covenant against the Option Property for the City's review and approval not later than thirty (30) days rim or to _completion of the Expansion_ Improve ments on the Option Deleted: after Property 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 the Owner to complete its responsibilities under this sub - section 4.10) shall be deemed an Event of Default hereunder. (o) The obligations of the City to convey the Option Property (or portion thereof) at Closing shall be subject to the following conditions: (1) Owner timely providing the Option Notice pursuant to Section 4.4 of this Agreement. (2) There shall be no material Event of Default caused by the Owner with any of the terms and provisions of this Agreement that has not been cured and is continuing at the time the City is required to convey the Option Property to the Owner; (3) The Owner shall have paid the Option Property Purchase Price; and (4) Each of the Owner's representations and warranties set forth in Section 2.3, to the extent applicable to the Option Property (or portion thereof), shall be true as of the Option Property Closing Date. (p) The obligation of the Owner to purchase the Option Property (or portion thereof) at Option Property Closing shall be subject to the following conditions precedent as applicable: (1) Owner timely providing the Option Notice pursuant to Section 4.4 of this Agreement. (2) There shall be no material Event of Default caused by the City with any of the terms and provisions of this Agreement that has not been cured; and (3) Each of the City's representations and warranties set forth in Section 2.1, to the extent applicable to the Option Property (or portion thereof), shall be true as of the Option Property Closing Date. (4) The Final Plat has been approved by the City and the conditions of approval are acceptable to the Owner; (5) The Owner shall have obtained all final governmental approvals, permits and licenses necessary in the Owner's judgment or otherwise required by any government or governmental agency with jurisdiction over the Owner's development of the Option Property (or portion thereof) in order to use the Option Property as the Owner intends and as may be required to construct any improvements on the Option Property (or portion thereof); 24