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1999 028 Ordinance
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1999 028 Ordinance
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Last modified
11/19/2018 4:10:00 PM
Creation date
9/10/2018 8:54:44 AM
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Template:
Legislation-Meeting Minutes
Document Type
Ordinance
Number
028
Date
9/27/1999
Year
1999
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G. Possession. Seller shall be entitled to exclusive use, occupancy <br />and possession of the Property in a manner consistent with the present use of <br />the Property until the earlier of (i) sixty (60) days following Seller's written notice <br />to Buyer of its intention to vacate the Property, (ii) ninety (90) days following <br />completion of the initial phase of construction of its new church facility to be built <br />on the Chester Property and Seller's receipt of an occupancy permit to occupy <br />same, or (ii) September 30, 2003. Seller's continued occupation of the Property <br />from and after the Closing Date is subject to the following conditions: <br />i. Seller's occupation, use and possession of the Property on <br />and after the Closing Date shall be rent free and free of all other costs and <br />expenses, except (a) real estate taxes accrued through- and including the <br />date Seller vacates the Property, which Seller shall reimburse to Buyer <br />within ten (10) of Buyer's presentation to Seller of a receipt for payment of <br />such tax bill, (b) utilities as set forth above, (c) maintenance and repair costs <br />payable by Seller hereunder, and (d) capital improvements or repairs to the <br />heating and air conditioning, parking lot, driveways or structural aspects of <br />the Property. <br />ii. Seller agrees to maintain in full force and effect until vacating <br />the Property comprehensive general liability insurance coverage in an <br />amount not less than $1,000,000.00 for the mutual benefit of Seller and <br />Buyer in amounts and with carrier(s) currently maintained. by Seller. Buyer <br />shall be named as an additional insured on the insurance policies providing <br />such coverage. <br />iii. Seller agrees to maintain in full force and effect until vacating <br />the Property insurance coverage against loss or damage to the Property by <br />fire and other perils as are customarily included in a standard."all-risk" policy <br />in the amount of the Purchase Price. The insurance coverage described <br />herein shall include insurance on the houses located on the Property. <br />iv. Seller agrees that its continued use of the Property and <br />operation of its facilities thereon shall be in full compliance with all <br />applicable laws, rules, regulations and ordinances. <br />v. Seller agrees to indemnify, defend and hold Buyer, its <br />members, officers, trustees; affiliates, successors and assigns, from and <br />against any loss, claim, damage, liability or expense, including, without <br />limitation, reasonable attorneys' fees, imposed upon, incurred by or <br />asserted against Buyer by reason of Seller's continued use and <br />possession of the Property for the period from and after the Closing Date <br />until Seller vacates the Property. <br />vi. Rental payments from the house(s) on the Property shall <br />be paid to Buyer. <br />vii.. Seller will deliver the Property to Buyer upon the expiration <br />of the Seller's possession clear of all storage materials and goods, broom <br />clean, and in substantially the same condition as the Property exists at <br />the Closing Date, normal depreciation excepted. To secure this, Seller <br />7 <br />
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