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80A - JOINT - ACQUISITION 1126-1146 WASHINGTON
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80A - JOINT - ACQUISITION 1126-1146 WASHINGTON
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6/30/2016 4:16:59 PM
Creation date
6/30/2016 3:36:28 PM
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City Clerk
Doc Type
Agenda Packet
Agency
Public Works
Item #
80A
Date
7/5/2016
Destruction Year
2021
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note or other evidence of indebtedness or any contract, indenture, mortgage, deed of trust, loan, <br />partnership agreement, lease or other agreement or instrument to which Buyer is a party or by which <br />any of Buyer's properties are bound. <br />(d) Subsequent Changes to Buyer's Representations and Warranties. If, prior to <br />the Closing, Seller or Buyer should learn, discover or become aware of any existing or new item, <br />fact or circumstance which renders a representation or warranty of Buyer set forth herein incorrect <br />or untrue in any respect (collectively, the `Buyer's Representation Matter "), then the party who has <br />learned, discovered or become aware of such Buyer's Representation Matter shall promptly give <br />written notice thereof to the other party and Buyer's representations and warranties shall be <br />automatically limited to account for the Buyer's Representation Matter. Seller shall have the right <br />to approve or disapprove any such change and to terminate this Agreement by written notice to <br />Buyer if Seller reasonably disapproves any such change. If Seller does not elect to terminate this <br />Agreement, Buyer's representation shall be qualified by such Buyer's Representation Matter and <br />Buyer shall have no obligation to Seller for such Buyer's Representation Matter. <br />14. Fair Value Price. Each of Buyer and Seller believe that the Purchase Price <br />represents a fair value price for the Real Property, as determined by an independent appraisal. <br />1.5. General Provisions. <br />(a) Condemnation. If any material portion of the Real Property shall be taken or <br />appropriated by a public or quasi - public authority exercising the power of eminent domain, Buyer <br />shall have the right, at its option, to (i) terminate this Agreement or (ii) proceed with the purchase of <br />the Real Property and receive all of the award or payment made in connection with such taking. <br />(b) Notices. All notices, demands, requests or other communications required or <br />permitted hereunder (collectively, "Notices ") shalt be in writing, shall be addressed to the receiving <br />party as provided in the Basic Terms section above, and shall be personally delivered, sent by <br />overnight mail (Federal Express or another carrier that provides receipts for all deliveries), sent by <br />certified mail, postage prepaid, return receipt requested, or sent by facsimile transmission (provided <br />that a successful transmission report is received). Alt Notices shalt be effective upon receipt at the <br />appropriate address. Notice of change of address shall be given by written notice in the manner <br />detailed in this Section. Rejection or other refusal to accept or the inability to deliver because of <br />changed address of which no Notice in accordance with this Section was given shall be deemed to <br />constitute receipt of such Notice. The providing of copies of Notices to the parties' respective <br />counsels is for information only, is not required for valid Notice and does not alone constitute <br />Notice hereunder. <br />(c) Waiver, Consent and Remedies. Each provision of this Agreement to be <br />performed by Buyer and Seller shall be deemed both a covenant and a condition and shall be a <br />material consideration for Seller's and Buyer's performance hereunder, as appropriate, and any <br />breach thereof by Buyer or Seller shall be deemed a material default hereunder. Either party may <br />specifically and expressly waive in writing any portion of this Agreement or any breach thereof, but <br />no such waiver shall constitute a further or continuing waiver of a preceding or succeeding breach of <br />the same or any other provision. A waiving party may at any time thereafter require further <br />compliance by the other party with any breach or provision so waived. The consent by one party to <br />any act by the other for which such consent was required shalt not be deemed to imply consent or <br />waiver of the necessity of obtaining such consent for the same or any similar acts in the future, No <br />waiver or consent shall be implied from silence or any failure of a party to act, except as otherwise <br />12 <br />FOODUK11 <br />
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