107 5th St E
Alder Flats, AB T0C 0A0
Land For Sale · 1.41 AC

The Vendor, Imperial Oil Limited (Imperial), will consider submission of EOI’s on Imperial’s standard form, a copy of which will be provided to qualified Purchasers. Interested parties shall submit the EOI on terms wherein the Purchaser agrees to engage their own environmental consultant to review and provide a remedial cost estimate, and including proposed site use post-closing, submitting an EOI knowing the full extent of estimated remediation costs. It is expected that remediation costs will exceed tax assessed value of the Property. Subject to review by the Vendor, and if terms are deemed acceptable for recommendation to senior management, the Vendor will then instruct their counsel to prepare a formal OTP. Alternatively, in certain circumstances the Vendor may consider and will need to complete additional site assessment work, and/ or develop a suitable Risk Management Plan, which may be beneficial and to be adhered to by the Purchaser post-closing of a transaction; depending on the site, these requirements may take up to 12 months from submission of an EOI/execution of OTP. The Vendor may add to the OTP a Vendor’s Condition for such a RMP, to be waived upon completion/approval of the RMP; this RMP approval will then commence the Purchaser’s Due Diligence Condition, relating to the then current site status and any constraints to be imposed by the Vendor post-closing of the transaction. Any costs incurred by a Purchaser (environmental reviews, legal, etc) are borne solely by the Purchaser and at the sole risk of the Purchaser. The Vendor will file a Restrictive Covenant upon closing, restricting future petroleum uses on site.