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STATION DIST DDA WITH CRA
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STATION DIST DDA WITH CRA
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7/29/2020 4:28:28 PM
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9/27/2010 1:29:49 PM
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by Agency. If Developer desires, Developer shall also cause a "Phase ase 1 " and/or "Phase a " <br />investigation of the Environmental ondi tion of the Site to be undertaken <br />("Devel op r Environmental Site Assessment'' , with the cost of such investigation s to be home <br />by the Developer. Developer covenants that Agency has been or will be provided with all <br />reports and test results produced in connection with the Developer Environmental Site <br />Assessment. Agency and the Developer hereby represent and warrant to the other, except as set <br />forth in the Agency Environmental Site Assessment and the Developer Environmental Site <br />Assessment, that they have no Actual Knowledge, and have not received any notice or <br />communication from any go ernmen t al agency having jurisdiction over the Site, notifying such <br />party of, the presence of surface or subsurface zone Hazardous Materials in, on, or under the <br />Site, or any portion thereof. <br />The Developer shall reasonably approve or disapprove of the Environunental <br />Condition and the Soils and Geological Condition of the Site tie "Site ite and i tion" in its sole <br />discretion within the time set forth in the Schedule of Performance. The Developer's approval of <br />the Site Condition shall be a Developer's Condition Precedent to the Closing. Except as set forth <br />in the next sentence of this paragraph, if the Developer di s approves the Environmental Condition <br />of the entire Site, then either party may terminate this Agreement by written notice to the other. <br />If the Developer disapproves the Environmental Condition of a Portion or Phase of Phase FS, <br />then the Developer may terminate this Agreement as to such disapproved Portion er Phase only <br />by written notice to the Agency, and approve the remaining Portion or Phase of Phase FS. <br />Pursuant to Section 20 . } the Agency may nullify such election on the terms and conditions se t <br />forth therein. Notwithstanding the foregoing, the termination of this Agreement pursuant to this <br />Section 206.1 will net result in the termination of the Agreement with respect to any ether Phase <br />(or in the case of Phase FS, Portion or Phase of the Site al-ready Conveyed al-read to the Developer. <br />206. 2 Studies and Reports. Prior to each Closincr, representatives of the <br />Developer shall have the right of access to all portions of the Site for the purpose of obtaining <br />data and making surveys and tests necessary to carry out this Agreement, including the <br />investigation of the Site Condition for each Phase and structural/civil engineering work. Any <br />preliminary work undertaken on the Site by Developer prior to each Closing shall b e done at the <br />sole expense of the Developer, and only after the Developer executes a fight of entry agreement <br />(for any Portion or Phase of the Site that has net yet been subject to a losing ) in a form <br />reasonably acceptable to the Agency Executive Dire ter. Any preliminary work shall he <br />undertaken only after securing any necessary permits from the appropriate governmental <br />agencies. <br />206.3 mediation After Developer Elects To Terminate. Upon receipt of <br />Developer's notice to tern in ate based upon the Environmental Condition of the Site, Agency <br />may, at Agency's option, agree to cause the rernediation of the Site in accordance with the <br />recommendations of Developer's Environmental Consultant, Developer's Environmental Site <br />Assessment and all Governmental Requirements ("Agency's Election to I emed i ate' * , provided, <br />Agency hereby agrees to make Agency's Election to Remediate in the. event that Agency <br />reasonably estimates that the cost to conduct the Remedial al work for all of the Phases of the Site <br />will not exceed Two Hundred Fifty Thousand Dollars ($250,000.00) ("l eme dial work <br />Expenditure ap" . In estimating the total cost of Remedial Work for all of the Phases of the <br />Site} Agency may make reasonable assumptions regarding the projected cost of Remedial Work <br />D0O 1 400673 v 1 41200272 -000 1 <br />
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