|
~DENDUM •
<br />To that certain Vacant Land/Farm and Ranch Contract to Buy and Sell Real Estate ~;:
<br />dated September 26, 2000, by and between Owens Bros. Concrete, Co., as Buyer,
<br />and Ralph Nix as Seller, concerning certain real property located in part of Sl2 SW/4,
<br />Section 28, T3N, R67W, 6s' P.M. Weld County Colorado containing 80 acres +!-.
<br />ADDITIONAL PROVISIONS:
<br />a) Inspection. Section 10 shall be amended by the addition of the following language:
<br />The term "inspection" shall include but not be limited to an inspection of the
<br />Property, an inspection of the Inclusions, and a determination of the existence of
<br />nonexistence of PCB transformers, radon gas, hazardous or toxic substances,
<br />and/or underground storage tanks in or on the Property.
<br />b) Indemnification. Buyer will indemnify and hold Seller harmless from and against
<br />any and all obligations, claims, losses, damages, costs and materials performed or
<br />fumished with regard to the Property at the instance or request of Buyer and Buyer
<br />shall insure that no lien of any kind is filed with regard to the Property on account of
<br />any such services, labor or materials. In order to adequately protect Seller from any
<br />such claims and liens, Buyer will notify Seller in advance of each contract or
<br />agreement into which it enters for providing services, labor or materials with regard
<br />to the Property, identifying the name of the contracting party, the labor, services or
<br />materials to be fumished. Furthermore, at all times after the date of this contact,
<br />Buyer shall send the following notice to all suppliers for services, labor or materials,
<br />and shall continuously keep such notice posted in conspicuous places on the
<br />Property:
<br />'The interest of the owners of this Property shall not be subject to any lien for
<br />services, labor, materials or equipment fumished with regard to this Property at
<br />the request of any person other than the owners."
<br />c.) Hazardous MaterialslADA Disclosure. The parties acknowledge that the Property
<br />may contain materials that may have been or may be In the future determined to be
<br />toxic, hazardous or undesirable ("Hazardous Materials"), and may need to ba
<br />specifically treated or removed. In addition, the Property may have been subjected
<br />to underground or above-ground storage tanks or may have been contaminated by
<br />other sources. Current and future federal, state and local laws may require the
<br />cleanup of the Hazardous Materials at the expense of those parties who have been
<br />in the chain of title of ownership of the Property. The parties acknowledge that the
<br />Property may be subject to the Americans With Disabilities Act ('ADA"), a federal
<br />law, which requires, among other matters, that tenants and/or owners of "public
<br />accommodations" remove barriers in order to make the Property accessible by
<br />disabled persons and provide auxiliary aids and services for hearing, vision or
<br />speech impaired persons. The parties acknowledge that Phill Foster and Company
<br />recommends that all curent and future owners and tenants with respect to the
<br />Property seek the advice of knowledgeable legal counsel, architects, environmental
<br />engineers, and other consultants in connection with determining the existence or
<br />nonexistence of Hazardous Materials and complying with the requirements of the
<br />ADA.
<br />d.) Survey. Within forty (40) calendar days from waiver of due diligence contingency,
<br />Seller shall furnish to Buyer, at Seller's expense, a curent ALTA boundary survey
<br />("Survey") prepared by a land surveyor licensed in the State of Colorado. The
<br />Survey shall be certified to SeAer, Buyer and the title insurance company and
<br />performed on the Property and shall show thereon the correct legal description;
<br />acreage; location of all fences; all boundary lines; any and all ditches, rivers and
<br />streams, easements, rights-of-way, and adjacent roadways, if any; and the location
<br />of all visible utilities on the property and all underground utilities for which there is
<br />visible surface evidence. The Survey shall reflect all exceptions to title (where
<br />applicable) as reflected on the title commitment and shall disclose that a physical
<br />inspection on the Property revealed no improvements situated upon or adjacent to
<br />the Property are the subject of any encroachments, and that no easements or rights-
<br />of-way have been physically violated in any respect. In the event the items reflected
<br />
|