FIELD DOCUMENTS - Laserfiche WebLink

Home Browse Search

(b) Buyer agrees(i)to comply with all Environmental Laws applicable to the use, storage or presence of Hazardous Materials on the Property;(ii)not to dispose of or allow disposal of any Hazardous Materials on the Property;(iii)not to use or allow any other party to use the groundwater beneath the Property unless and until all required investigation and cleanup of the currently identified conditions is complete(including, but not limited to,the completion of any groundwater monitoring that is required after remediation is complete)as confirmed by Seller in writing;(iv)not to interfere with or damage Seller's monitoring and remediation systems on the Property; (v)to coordinate and cooperate with Seller when building or constructing any improvements on the Property;(vi)to take any and all necessary steps to ensure that Buyer's successors in interest to the Property,and any tenants or other occupants of any portion of the Property, are aware of and comply with all of Buyer's obligations set forth in this Agreement; and (vii)not to obstruct or interfere with Seller's remediation efforts in any manner. (c) Buyer agrees to provide prompt notice to Seller of the following: (i)any releases of Hazardous Materials to or from the Property after the Closing Date;and(ii) any notices of violation or other communications from regulatory agencies arising out of or related to the environmental condition of the Property. 5. Default. In the event that Buyer defaults in any of its obligations under this Agreement, Seller shall have any remedies available to it pursuant to this Agreement or the Sale Contract or at law or in equity, including without limitation,the right to specific performance of Buyer's obligations under this Agreement. 6. Expiration of Seller's Rights. Seller's rights under this Agreement with respect to the Groundwater Monitoring shall expire on the date that an Agency issues a closure or no further action letter with respect to the Groundwater Monitoring and Seller's rights under this Agreement with respect to the Soil Remediation shall expire on the date than an Agency issues a closure or no further action letter with respect to the Soil Remediation; except that(i) if such closure or no further action letters require Seller to perform on-going monitoring, inspection or maintenance with respect to the Groundwater Monitoring or the Soil Remediation (for example, on-going monitoring of any caps over contaminated soil), Seller shall have such rights under this Agreement as are reasonably necessary to permit Seller to perform such on-going monitoring, inspection or maintenance,and (ii) if after such date Seller is required to restore or repair any portion of the Property to its former condition, Seller shall have such rights under this Agreement as are reasonably necessary to permit Seller to complete such restoration or repair work. 7. Recording. Upon Closing,the Title Company shall record this Agreement in the official real property records of the County of San Joaquin, California. 8. Notices. Any notice or other communication required or permitted under this Agreement shall be in writing and shall be either personally delivered, sent by nationally recognized private courier service,transmitted by telecopy or sent by registered or certified mail, return receipt requested, postage prepaid,addressed to the parties as follows: If to Seller: David Wersan, Esq. STLDOI-1202772-1