LIN - ACQUISITION DOCUMENTS - Laserfiche WebLink

closely reflects the general plan designation of the Property will be used for valuation purposes on a per acre basis. For purposes of clarification the appraisal reports of David M. De Voe dated September 19, 1991 and Ehrhardt Real Estate Services dated October 22, 1991, are incorporated herein by reference (however the reports shall not be attached to this Agreement). (b) In the event the City of Dublin has not established a land use designation by December 31, 1995, CITY and LIN agree to utilize a value for the property which is arrived at either by mutual agreement, or if agreement cannot be reached, CITY and LIN will direct their respective appraisers to select an acceptable third appraiser to establish the value. ARTICLE III ADDITIONAL AGREEMENTS Section 3.1. Survey and Subdivision. LIN's obligation to transfer the subject property shall be conditioned upon full compliance with or exemption from the requirements of the California Subdivision Map Act and local subdivision laws as shown by evidence reasonably satisfactory to LIN. It shall be CITY's obligation to obtain the necessary survey and compliance with this provision or to provide LIN with proof of exemption. Section 3.2. Joint Agreement with Dublin/San Ramon Services District ("DSRSD"). CITY agrees to use its best efforts to negotiate in good faith with DSRSD a Joint Use/Operation Agreement for use of the water reservoir facility to be constructed by CITY on the Property. The Joint Use/Operation Agreement contemplated by this paragraph is more specifically set forth at Section III of the MOU. Section 3.3. A Reconveyance of Unused Property. In the event CITY and DSRSD do not enter into the agreements and implement them as contemplated in the MOU on or before December 31, 1995, CITY may, at its sole discretion, reconvey to LIN any portion of the Property. Section 3.4. Survival of Covenants. All of the covenants and agreements set forth in this Article III shall survive the Close of Escrow. ARTICLE IV REPRESENTATIONS AND WARRANTIES Section 4.1. Limited warranties. CITY represents that it is knowledgeable and sophisticated in real estate transactions. CITY agrees that it is purchasing the Property in an "as is" condition and in reliance on the examination and inspection of the Property and an investigation of such matters relating to the development of the property as CITY may deem appropriate including but not limited to: 4 H n\docs\acquisit.agr