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2005-114
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2005-114
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10/26/2015 5:19:41 AM
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Resolutions
Resolution Number
2005-114
Approved Date
08/02/2005
Agenda Item Number
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Archived Roll/Disk#
3129
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SmeadsoftID
1674
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2005-256
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\Official Documents\2000's\2005
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sole and absolute discretion,that the Property is suitable and satisfactory for Buyer's intended use. <br /> Buyer shall have the unconditional and absolute right to terminate this Agreement for any reason <br /> whatsoever during the Inspection Period, including but not limited to, the inability to obtain <br /> adequate financing. In order to terminate this Agreement, Buyer must provide Seller with written <br /> notice so stating no later than the expiration of the Inspection Period. Thereafter, the parties shall <br /> have no further duties, obligations or responsibilities hereunder, except matters specifically stated <br /> herein as surviving the termination of this Agreement. <br /> 4.1 Within five (5) business days after the Effective Date, Seller shall deliver to Buyer <br /> copies of all documents, if any, in Seller's possession concerning the Property ("Seller's Due <br /> Diligence Information"). During the Inspection Period, Buyer may cause its agents,consultants, <br /> surveyors, engineers,and employees, as needed,to go upon the Property to inspect, examine and <br /> otherwise undertake those actions which Buyer, in its discretion,deems necessary or desirable to <br /> determine the suitability of the Property for Buyer's intended uses. Neither Buyer, nor any of <br /> Buyer's agents, shall damage any portion of the Property or any surrounding property, and Buyer <br /> hereby agrees to indemnify and hold Seller harmless for any such damage caused by Buyer or <br /> Buyer's agents, and this indemnity shall survive the termination of this Agreement. <br /> 4.2 In the event Buyer fails to provide Seller with the required written notice of <br /> termination prior to the expiration of the Inspection Period, Buyer shall automatically be deemed to <br /> have elected to waive its right to terminate this Agreement under this Paragraph 4. Buyer shall <br /> keep the Property free and clear of any liens and encumbrances in connection with its inspections <br /> of the Property. <br /> 5. Representations of Seller. <br /> 5.1 Seller is seized of marketable,fee simple title to the Property,and is the sole owner <br /> of and has the authority to convey and transfer the Property, pursuant to Florida Statutes section <br /> 125.38, subject to the Lease as set forth in this Agreement. <br /> 5.2 From and after the Effective Date of this Agreement, Seller shall take no action <br /> which would impair or otherwise affect title to any portion of the Property, and shall record no <br /> documents in the Public Records which would affect title to the Property, without the prior written <br /> consent of Buyer. <br /> 5.3 Except as specifically set forth herein,Seller makes no representations or warranties <br /> of any nature whatsoever, express or implied, with respect to the Property. <br /> 6. Default. <br /> 6.1 In the event Buyer shall fail to perform any of its obligations hereunder, Seller shall, <br /> at its sole option, be entitled to: (i) terminate this Agreement by written notice delivered to Buyer <br /> prior to the Closing Date or at Closing and thereupon neither Seller nor any other person or party <br /> claiming by, though, or under Seller shall have any claim for specific performance, damages, or <br /> otherwise against Buyer; or (ii) waive Buyer's default and proceed to Closing. <br /> 6.2 In the event Seller shall fail to perform any of its obligations hereunder, Buyer shall, <br /> at its sole option, be entitled to: (i) terminate this Agreement by written notice delivered to Seller <br /> prior to the Closing Date or at Closing and thereupon neither Buyer nor any other person or party <br /> 2 <br />
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