Agenda - 12-12-2006-5i - Laserfiche WebLink

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13. MISCELLANEOUS CLOSING EXPENSES. Trinity will pay any documentary stamp tax, real estate transfer fee or any similar charge due upon conveyance of title to the Optionee. The Optionee will pay recording fees. 14. POSSESSION. Trinity will deliver possession of the Option Property to the Optionee at Closing subject to no leases, mortgages, liens or other reserved rights, and in the condition set forth below in Paragraph 12. 15. OPTION PROPERTY USE. Upon transfer of title to Optionee, all of the Option Property shall be placed under a conservation easement in the form attached as Exhibit B ("Conservation Easement"). Trinity shall reserve for itself the right to access the Option Property for educational purposes. Said right of access will be subject to the terms of the Conservation Easement. 16. CONDITION OF OPTION PROPERTY/ RISK OF LOSS. Trinity shall not transfer or encumber any interests in the Option Property prior to Closing. Trinity shall remove all rubbish or trash including any hazardous or harmful chemical substances, from the Option Property prior to Closing but shall otherwise keep the Option Property in its current condition until Closing and shall prevent and refrain from any use of the Option Property, for any purpose or in any manner, that would diminish its value or adversely affect the Optionee's intended use of the Option Property. By way of example and not limitation, Trinity shall not change existing surface or other natural contours of the Option Property; shall not engage in any excavation, mining, road building or timbering activities on the Option Property and shall not engage in the dumping of waste or debris on the Option Property. Risk of loss or damage by fire, vandalism or other casualty prior to payment of the purchase price and Closing shall remain with Trinity. In the event of any adverse change in the condition of the Option Property, whether said change is caused by Trinity or by forces beyond Trinity's control, the Optionee may. elect to a) refuse to accept the Option Property; b) accept the Option Property, or a portion thereof, in which case there may be an equitable adjustment of the purchase price based on a change in circumstances; or c) require restoration of the Option Property to its condition at the time this Option was granted. 17. RIGHT OF ENTRY AND INSPECTION. The Optionee and its agents and assigns shall have the right to enter upon the Option Property at reasonable times for surveying, conducting environmental inspections and assessments to detect hazardous or toxic substances, and other reasonable purposes related to this transaction. Based upon the results of the environmental inspections and assessments, or -upon other conditions revealed to be unsuitable to the Optionee or its assigns, the Optionee may elect to refuse to accept the Option Property. 18. REMEDIES. In addition to any other remedy specifically set forth in this Option, the Optionee has the right to enforce the provisions of this Option through an action for specific performance, injunctive relief, damages, contribution or any other