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2025/06/04 Council Agenda Packet
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2025/06/04 Council Agenda Packet
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Council Agenda Packet
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6/4/2025
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6 <br />inspections and tests to ascertain the condition and suitability of the Property. Such inspections <br />and tests shall be non-destructive unless otherwise agreed by the Seller and Buyer’s Real <br />Property Manager or designee in writing. If Buyer delivers to Seller written notice effective on <br />or before the expiration of the Feasibility Study Period that Buyer disapproves the Property, then <br />the Deposit will be returned to Buyer, Buyer shall return to Seller all Feasibility Materials to Seller, <br />this Agreement terminates, and Seller and Buyer will be released from all further obligation or <br />liability under the Agreement. Buyer’s determination to so disapprove is at Buyer’s sole and <br />absolute discretion. <br />(c) Buyer’s Contingencies. Buyer’s obligation to purchase the Property is <br />expressly contingent on upon the following: <br />i. Buyer not delivering notice of disapproval of the Property prior to <br />expiration of the Feasibility Study Period; <br />ii. The Everett City Council has approved this Agreement, authorizing <br />the purchase of the Property; <br />iii. Buyer’s receipt of Title Company’s firm commitment to issue, <br />upon closing, the Title Policy; <br />iv. All Seller’s representations and warranties contained in or made <br />pursuant to this Agreement being true and correct as of the Closing <br />Date; <br />v. Seller shall have delivered all of Seller’s escrow deposits to Closing <br />Agent on or before the Closing Date; <br />vi. Seller’s timely performance of all Seller’s obligations under this <br />Agreement; <br />vii. No material change in the condition of the Property between the <br />Effective Date and the Closing Date; <br />viii. No litigation or other court action shall have been commenced <br />seeking to obtain an injunction or other relief from such court to <br />enjoin the consummation of the transaction described in this <br />Agreement, and no preliminary or permanent injunction or other <br />order, decree, or ruling shall have been issued by a court of <br />competent jurisdiction or by any governmental authority, that <br />would make illegal or invalid or otherwise prevent the <br />consummation of the transaction described in this Agreement; and <br />ix. No law, statute, rule, or regulation shall have been enacted that <br />would make illegal or invalid or otherwise prevent the <br />consummation of the transaction described in this Agreement. <br />(d) Seller’s Contingencies. Seller’s obligation to sell the Property is expressly <br />contingent on upon the following:
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