Reso 2008-1264 - Laserfiche WebLink

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If Seller provides to the Buyer the work product1 of the engineer retained by the Seller prerequisi te to the obtaining of the permits necessary for the installation of the lift station (Balj et Environmental, Inc., 9300 So. Dadeland Boulevard, Suite 310, Miami, Florida 33156: Tel. (305) 670-3986; Fax: (305) 670- 8017) , the Buyer shall reimburse Seller therefore in the amount of $40,000.00 if the cost of installing lift station does not exceed $130,000.00. If the cost exceeds $130,000.00, the Buyer shall reimburse Seller with any savings, if any, from the total cost obligation of $170,000.00. The savings shall be calculated in accordance with the following formula: Total cost obligation ($170,000.00) subtracted by the cost of the lift station. Reimbursement, if any, shall be made to the Seller, at the earlier if: (a) ten (10) days after the Buyer awards a contract for the installation of the lift station and/or work related thereto, or (b) within ten (10) days of the Buyer's causing commencement of the installation of the lift station and/or work related thereto. The work shall be commenced within a reasonable time after Closing provided that permits are issued by appropriate governmental agencies. Buyer will apply for such permits within a reasonable time after Closing. 9. Conditions Precedent to Closing. 9.1 Conditions to Buyer's Obligations. Each of the following events or occurrences ("Buyer's Condi tions Precedent") shall be a Condi tion Precedent to Buyer's obligation to close this transaction. If the Buyer's Conditions Precedent have not been satisfied on or before the Closing Date (as the same may be adj ourned pursuant to this Agreement), Seller shall have thirty (30) days after Buyer delivers to Seller written notice of such unsatisfied Buyer's Condition Precedent within which to satisfy the unsatisfactory condition and should Seller not have done so within said 30-day period, Buyer shall have the right to either (i) terminate this Agreement by giving notice thereof to Seller, whereupon Buyer and Seller shall be relieved of all further obligations under this Agreement, except for those that expressly survive termination of this Agreement; or (ii) waive the condition and close. The lift station installation work I"Work Product" consists of the "Sanitary Sewer and Pump Station Design Report For Avila Condominiums, 17620 Atlantic Boulevard, Sunny Isles, Florida 33160" and a "Sanitary Sewer Plan-Avila Condominium Private Sanitary Sewer System, dated May 2, 2008, signed by Peter P. Baljet, P.E., No.1 0745, State of Florida (File No.27-23, C 1 ,C2,C3 PS.)