HomeMy WebLinkAbout430 S COLLEGE AVE - CORRESPONDENCE - 1/28/2005 (5)up activities as will make the Property habitable
by CSU, or, in the alternative, summarily terminate
this Lease, provided, however, that in the event
that the City shall determine not to clean up these
contaminants, CSU hereby reserves the right to
perform such clean up activities as it deems
necessary, at its sole expense.
(h) During the first six (6) months of this Lease, CSU
will perform a safety review of the Power Plant
building and the Property and will report the
results of said review to the City. The City shall
be responsible for correcting any safety
deficiencies that existed upon the Property at the
commencement of this Lease, to the extent that any
such deficiencies present a clear and present
danger to the safety of CSU and its occupation of
the Property. Any other minor safety deficiencies
may either be remedied by CSU at its sole expense
or may be remedied jointly by CSU and the City if
mutually agreed upon.
(i) Certain level 1 environmental assessments and other
environmental tests with respect to the Property as
described on Exhibit "C" attached have been
conducted by the City and/or CSU. CSU shall have
no liability for any environmental conditions or
matters reflected on such assessments, since such
conditions pre -dated CSU's use and occupancy of the.
Property. The City does not know of any
environmental hazards or contamination not
reflected in the identified assessments and
specific tests described on Exhibit "C."
20. Site Condition.
(a) CSU acknowledges that the City is constructing or
will construct a hiking/bike trail upon the
Property and that the City will maintain control of
the right-of-way for such trail approximately
fifty (50) feet in width along the south bank of
the Cache La Poudre River. It is agreed that CSU
shall have no responsibility for the maintenance of
the trail or of the trail right-of-way. The City
agrees to repair any damage to the property
resulting from the construction of the trail.
(b) CSU also acknowledges that the State of Colorado
intends to construct a new bridge across the Cache
La Poudre River at its intersection with North
College Avenue and that, as a result of such
construction, a portion of the "grounds" along
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