R2012-158 AUTHORIZING AGREEMENTS WITH ARCHER DANIELS MIDLAND COMPANY

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environmental study.ADM will pay all costs of the environmental study. If,before iClosing,ADM is not reasonably satisfied in any respect with such data and information contained in the Environmental Study or receives notification from any xeasonably reliable source that Hazardous Materials or underground storage tanks exist in, under or on the Facilities,then ADM shall have the right to decline to purchase and acquire the North Plant,in its sole discretion,which right shall be in.addition to any other right ADM has under this Agreement. 19. Documents to be Delivered by the Ci y on the Closin Date. The City shall t< � prepare, or cause to be prepared,for delivery to ADM on the Closing Date,the following documents: (a) Good and sufficient warranty deeds to the property described on Exhibit B, and good and sufficient deeds,bills of sale,assignments and other instrument of-conveyance e to cone to and vest in ADM.good ood title to all of the and transfer,as shall benec scary y g properties described in Paragraph 3 free and clear of any and all.liens:and other encumbrances,except for covenants, conditions and restrictions of record, easements of record, and public roads and highways, and except for the exclusion from such deeds and reservations in the City of all riparian sublets,if any,respecting real estate. (b) Preliminary Reports of title from a Title Company acceptable to ADM covering a date not later than thirty(30) days prior to the Closing Date in the aggregate amount of$3,000,000 as evidence of title to the real estate and described on Exhibit B, showing title to be in the City,subject only to the matters to which this Agreement is subject by the terms hereof; (c) Affidavit of title of the City to the real estate described on Exhibit B covering the period from the date of the Preliminary Reports of title to the Closing Date;