2019.04.03 EDC Packet - Laserfiche WebLink

Home Browse Search

17 Investigation; provided, however, that Redeveloper's indemnification obligations shall not extend to any existing conditions or environmental remediation or response actions required as a result of such entry, inspection or Intrusive Investigation. (e) This section intentionally left blank. (f) Time of Conveyance. The Closing shall take place at the offices of the Title Company on the earlier to occur of: (i) December 31, 2019; or (ii) the date that is five (5) business days after Buyer receives final plat approval, final PRD approval and met all conditions of said approvals to the satisfaction of the City (the “Closing Date”). The Closing shall occur on the Closing Date. The Redeveloper shall take possession of the Redevelopment Property on the Closing Date. (g) Taxes; Special Assessments; Other Pro Rations. Real estate taxes due and payable prior to the applicable year of Closing shall be paid by the City. Real estate taxes due and payable in the applicable year of Closing shall be allocated between the parties based on their respective period of ownership in the year of Closing. Real estate taxes due and payable in the years subsequent to the Closing shall be paid by the Redeveloper. The City shall pay all special assessments deferred, pending or levied as of the Closing Date. The Redeveloper shall pay all special assessments levied after against the applicable portion of the Redevelopment Property after the Closing Date. The Redeveloper shall bear all costs of recording the Redevelopment Property Deed except as set forth below. The City shall pay the State deed tax due in connection with conveyance of the Redevelopment Property and shall pay the cost of recording any document necessary to place title in the condition described in this Agreement. The Redeveloper shall pay all other recording costs incurred in connection with this Agreement. The parties shall equally share other closing costs. Each party shall pay all sums in cleared funds on the Closing Date. (h) Plat; Covenants; Easements; Zoning and Land Use Approvals. The Property may be conveyed using a non-platted legal description. Subsequent to the Closing, the Redeveloper shall join in any plat including the relevant portion of the Redevelopment Property. The Redeveloper shall pay all costs for plats, replats, lot splits, preparation of restrictive covenants, easements and any other documentation necessary for the construction of the Minimum Improvements and all costs of recording any such documents. Redeveloper 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. Redeveloper shall obtain and pay for any necessary variances, rezoning, subdivision, platting, plat amendment and any other documentation for the construction and sale of the Minimum Improvements. 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: