13B Action Items - Laserfiche WebLink

Home

BMDV-54329\2647924.2 Put Option Agreement - 20 - Option Agreement (or any amendment hereto), it being expressly agreed that each Party to this Put Option Agreement shall be bound by its own telecopied or electronically mailed signature and shall accept the electronically mailed signature of the other Party to this Put Option Agreement. 9.15 Natural Hazard Disclosure. City/Agency shall obtain, at Beam’s sole cost and expense, a natural hazard disclosure report prepared by a professional consulting firm relating to the Property prior to Close of Escrow. City/Agency and Beam acknowledge that Beam may be required to disclose if the Property lies within the following natural hazard areas or zones: (i) a special flood hazard area designated by the Federal Emergency Management Agency (California Civil Code Section 1103(c)(1)); (ii) an area of potential flooding (California Government Code Section 8589.4); (iii) a very high fire hazard severity zone (California Government Code Section 51178 et seq.); (iv) a wild land area that may contain substantial forest fire risks and hazards (Public Resources Code Section 4135; (v) earthquake fault zone (Public Resources Code Section 2622); or (vi) a seismic hazard zone (Public Resources Code Section 2696) (sometimes all of the preceding are herein collectively called the “Natural Hazard Matters”). City/Agency and Beam hereby instruct Escrow Holder, or an affiliate thereof (who, in such capacity, is herein called the “Natural Hazard Expert”) to examine the maps and other information specifically made available to the public by government agencies for the purposes of enabling Beam to fulfill its disclosure obligations, if and to the extent such obligations exist, with respect to the natural hazards referred to in California Civil Code Section 1103 et seq. and to report the result of its examination to City/Agency and Beam in writing. The written report prepared by the Natural Hazard Expert regarding the results of its full examination shall fully and completely discharge Beam from its disclosure obligations referred to herein, if and to the extent any such obligations exist, and, for the purpose of this Put Option Agreement, the provisions of Civil Code section 1103.4 regarding non-liability of Beam for errors or omissions not within its personal knowledge shall be deemed to apply and the Natural Hazard Expert shall be deemed to be an expert, dealing with matters within the scope of its expertise with respect to the examination and written report regarding the natural hazards referred to above. City/Agency agrees to provide Beam with a written acknowledgment of its receipt of the Natural Hazard Disclosure Statement prior to the Close of Escrow. 9.16 Possession. Beam shall deliver possession of the Property upon Close of Escrow, subject to the Permitted Exceptions. 9.17 Computation Of Time. The time in which any act is to be done under this Put Option Agreement is computed by excluding the first day (such as the Effective Date), and including the last day, unless the last day is a holiday or Saturday or Sunday, and then that day is also excluded. Unless expressly indicated otherwise, (a) all references to time shall be deemed to refer to Pacific time, and (b) all time periods shall expire at 5:00 p.m., Pacific time. 9.18 No Recordation. Neither this Put Option Agreement nor a memorandum hereof shall be recorded by City/Agency. The filing or recordation of this Put Option Agreement or a memorandum hereof in violation of this provision shall be deemed a default by City/Agency of this Put Option Agreement.