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<br /> <br />b. Aggregate may elect to (i) terminate this Agreement by giving notice to <br />Thornton of such election within one hundred eighty (180) days of the <br />casualty event, or (ii) continue this Agreement despite such damage. If <br />Aggregate elects to terminate the Agreement under this paragraph, the <br />provisions of either Paragraph 37(a) or 37(b) shall apply at Thornton`s sole <br />option. <br />44. Pending Liti ation. Aggregate has no knowledge of any pending disputes, actions, <br />litigation or administrative reviews which concern the Property, Aggregate's activities on the <br />Property or the associated water rights other than the pending Condemnation Action and water <br />rights adjudications commenced by Thornton or Aggregate for water storage rights on the <br />Property. Subsequent to the execution of this Agreement and within fourteen (14) days after it <br />receives notice of the same, Aggregate shall notify Thornton of any disputes, actions, litigation or <br />administrative reviews which concern the Property. <br />45. Compliance with Government Reoulations. Aggregate warrants that there are no <br />orders, directives, complaints, or violation notices of any city, county, state or federal authority, <br />of any type related to the Properly or Aggregate's work on the Property. <br />46. No Third Party Beneficiary. Nothing contained herein shall give rise to any rights <br />or allow any claim by any third party. It is the express intention of the parties that any third party <br />receiving benefits from this Agreement shall be deemed an incidental beneficiary only. <br />47. Governmental Immunity. The parties hereto understand and agree that the City of <br />Thornton, its officers, and its employees, are relying on, and do not waive or intend to waive, by <br />any provision of this Agreement, any rights, protections, or privileges provided by the Colorado <br />Governmental Immunity Act, 24-10-101 C.R.S., et seg•" as it is from time to time amended, or <br />othenviseavailabletoThornton,itsofficers,oremployees. However, GovernmentalImmunityshall <br />not be available or asserted by the City of Thornton as a defense to any of the contract remedies <br />available to Aggregate under this Agreement. <br />48. Additional Documentr orAction. The parties shall execute any additional documents <br />and to take any additional action necessary to carry out this Agreement. <br />49. Time of Essence/Force Maieure. Time shall be of the essence with respect to <br />performance required under this Agreement. If the performance of any act required under this <br />Agreement is delayed by reason of fire, flood, acts of God, war, civil insurrection, strike or any <br />other cause beyond the party's control, then the time for performance will be delayed a reasonable <br />amount of time considering the circumstances causing the delay. <br />Page 25 of 29 <br />Hammer <br />Option & Purchase Agreement <br />December 11, 2000 <br />.~, <br />