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20B - AA PURCHASE SALE OF BRISTOL ST IMP PROJECT
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11/21/2017
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20B - AA PURCHASE SALE OF BRISTOL ST IMP PROJECT
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Last modified
11/16/2017 6:21:27 PM
Creation date
11/20/2017 7:23:38 AM
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City Clerk
Doc Type
Agenda Packet
Agency
Public Works
Item #
20B
Date
11/21/2017
Destruction Year
2022
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whether or not set forth in this Agreement, Any Due Diligence Investigations by the Buyer <br />shall not unreasonably disrupt any then -existing use or occupancy of the Property. <br />(a) Limitations. The Buyer shall not conduct any intrusive or <br />destructive testing of any portion of the Property, other than low volume soil samples and <br />other than as expressly described herein, without Seller's prior written consent. Following <br />the conduct of any Due Diligence Investigations on the Property, the Buyer shall restore the <br />Property to substantially its condition prior to the conduct of such Due Diligence <br />Investigations. <br />(b) Indemnity. Buyer agrees to indemnify, defend and hold' the <br />Seller, and its officers and employees, harmless from and against all actual damages, <br />judgments, costs, expenses and fees arising from or related to any actor omission of Buyer <br />in performing its Due Diligence Investigations under this Agreement (excluding discovery of <br />any pre-existing conditions at the Property), except to the extent arising out of the <br />negligence or willful misconduct of Seller, its officers or employees. For the avoidance of <br />doubt, Seller acknowledges that Buyer shall be under no obligation whatsoever with <br />respect to any hazardous substances or other defects, including, but not limited to, <br />contaminated soil and/or other materials, extracted or otherwise discovered by Buyer in the <br />performance of its Due Diligence Investigations of the Property and Seller shall bear all <br />liability and responsibility with respect thereto, and Buyer shall not be obligated to <br />indemnify, defend or hold Seller harmless due to the discovery or existence of any <br />hazardous substances or other defects on or about the Property nor shall Buyer be <br />obligated to indemnify, defend or hold Seller harmless from any liens, claims, losses, <br />liabilities or expenses arising out of or resulting directly or indirectly from the acts, <br />omissions or negligence of Seller or any party acting by, through or under Seller. <br />(c) Insurance. Prior to any entry upon the Property by or on behalf <br />of Buyer, Buyer (at Buyer's sole cost and expense) shall) provide Seller with a certificate of <br />Buyer's liability insurance policy designating Seller as an additional' insured. The foregoing <br />certificate shall evidence that Buyer has obtained a policy or policies of comprehensive <br />general liability and property damage insurance against loss, damage or liability for injury to <br />or death of any person, or loss or damage to property occurring in or about the Property. <br />Such insurance shall include comprehensive general liability coverage for bodily injury and <br />property damage in the amount of at least $1,000,000.00 combined single limit, and shall <br />include automobile liability coverage for bodily injury and property damage in the amount of <br />at least $1,000,000.00 combined single limit. Buyer shall see that insurance coverage as <br />provided in this paragraph is maintained throughout the duration of Buyer's right of entry <br />onto the Property. <br />3. REPRESENTATIONS AND WARRANTIES OF PARTIES <br />3.1 Representation and Warranties of Seller <br />Seller makes the following representations and warranties with respect to the <br />Property, each of which shall survive Close of Escrow: <br />6 <br />20B-12 <br />
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