StaffReport_Property Exchange 20260401 (2)

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Property Exchange Agreement - 7 Substances, or conditions with respect to the atmosphere, soil, surface and ground waters, wetlands, stream sediments, vegetation, endangered species, and stormwater runoff or discharge. The provisions of this Section 3(F) do not apply to the real property owned by the County on which the Exchange Property being acquired by CWU is located, and CWU does not waive any claims or damages or release the County in any way regarding such real property. The provisions of this Section 3(F) shall survive the Closing. G. Information. Within thirty (30) days from the Effective Date, each of the Parties, as a Transferor, shall deliver or make available to the Transferee for inspection and copying, with respect to the Transferor’s Exchange Property, copies of documents or matters that are either in its possession or under its control relating to: (1) Hazardous Substances on, in, or under the Transferor’s Exchange Property, including environmental reports, tests, and studies (draft and final) concerning the Transferor’s Exchange Property; (2) surveys, topographical reports, and engineering reports concerning the Transferor’s Exchange Property; (3) soil and water tests, reports, and notices concerning the Transferor’s Exchange Property; (4) wetlands or biological reports concerning the Transferor’s Exchange Property; and (5) all current leases and rental agreements along with a rental statement including names of tenants, rental rates, period of rental, security deposits, and a list of delinquent rents and their duration concerning the Transferor’s Exchange Property (collectively, “Information”). Each Party, as a Transferor, covenants and agrees that if, prior to the termination of this Agreement or the Closing Date, it receives any Information relating to the Transferor’s Exchange Property, it will immediately upon receipt provide the Transferee with a copy of the same. H. Future Permits and Approvals. Any change a Transferee may seek to the land use designation or zoning classification applicable to any Exchange Property under local ordinances, together with any land use permits, project permits, development regulations, or official controls of any governmental entity relating to any Exchange Property that any Transferee may require to utilize the respective Exchange Property it is acquiring under this Agreement shall be and remain the sole responsibility of said Transferee as to the Exchange Property it is acquiring. Section 4. Representations and Warranties. Each Party represents and warrants to the other Party as of the date of this Agreement and as of the Closing Date: A. Authority. It has all necessary power and authority to enter into and execute this Agreement as of the Effective Date and, on or before Closing, shall have all necessary power and authority to consummate the transactions contemplated hereby. B. No Actions, Etc. Except as disclosed to the Transferee in writing or as otherwise set forth herein, to the Transferor’s knowledge: