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1996_Ordinances
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1996_Ordinances
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7.6. Assignment. This Agreement may be assigned by either party upon the prior <br />• written consent of the other, which consent shall not be unreasonably denied or delayed. Seller's <br />consent shall not be given unless Seller has been provided proof satisfactory to it that the <br />proposed Assignee is capable, financially and/or otherwise, of performing all of the obligations <br />of Buyer as set forth in this Agreement. The parties agree to respond to an assignment request <br />within five (5) business days from the date any such request is received. <br />7.7. Survivability. The terms, provisions, representations, warranties, covenants, and <br />undertakings set forth in this Agreement shall survive the closing of the transaction contemplated <br />hereby. <br />7.8. No Brokers. Buyer and Seller each specifically represents and warrants to the other <br />that no real estate agent, broker or finder has been involved in this transaction or with respect <br />of this Agreement. Buyer shall indemnify and hold Seller harmless from and against any claims, <br />actions and/or causes of action against the Seller for any commissions, compensation and any <br />liability whatsoever with respect to any such agent, broker or finder claiming through Buyer. <br />7.9. Partial Invalidity. If any provision of this Agreement, or the application of any <br />provision of this Agreement with respect to any circumstance, is deemed invalid and/or <br />unenforceable, the remaining provisions of the Agreement (and/or the validity and application <br />of the provision in question under other circumstances) shall not be affected thereby and shall <br />remain valid and enforceable. <br />• 7.10. Governing Law. This Agreement shall be governed in all aspects by the laws of <br />The Commonwealth of Virginia. <br />7.11. Deposit and Extension Payments Upon Termination. Unless otherwise provided <br />herein, wherever in this Agreement it is provided that the Agreement shall be terminated and <br />each party relieved of and from all further liability hereunder (exclusive of an Event of Default), <br />the Deposit, earned interest and Extension Payments shall be immediately paid to Buyer. <br />7.12. Buyer's Legal Entity. Buyer expressly represents and warrants that it is a Virginia <br />corporation duly and properly formed, organized, and/or registered in accordance with the <br />applicable laws of the Commonwealth of Virginia; that, accordingly it has the legal capacity to <br />enter into this Agreement; and that the individuals whose signatures appear herein below for <br />Buyer, have been duly authorized by Buyer to execute this Agreement on its behalf. <br />7.13. Vent Station. The parties agree that the existing "Vent Station" or 'Blower House" <br />located near the Property and owned and operated by the Rivanna Water and Sewer Authority <br />(hereinafter "Rivanna") will be shut down and completely taken out of use prior to Closing. At <br />closing an easement in favor of Rivanna will be granted by Buyer giving Rivanna the legal right <br />to install a "Biofilter" if and when the Rivanna Board of Directors determines it is needed at an <br />approximate location shown on the plat attached hereto as Exhibit J3. The parties have <br />reason to hope that the latter installation will not be necessary. <br />10 <br />
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