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storage or presence of hazardous or regulated substances or wastes in, at,
<br /> under, on, or concerning the Property, including any pending, or _
<br /> contemplated search or investigation of the Property or any portion thereof
<br /> with respect thereto. Any Hazardous Substances previously stored on the
<br /> Property and the containers in which such substances were stored have been
<br /> disposed of in compliance with applicable federal,state and local regulations.
<br /> Seller has no knowledge of any activity on the Property which would subject any owner or operator thereof to damages,penalties,injunctive relief or costs
<br /> or remediation or cleanup under any federal, state or local law. For the
<br /> purposes of this Agreement, the terra "Hazardous Substance" means that
<br /> and/or similar terms as defined in Section 104(14) of the Comprehensive
<br /> Environmental Response, Compensation a Liability Act of 1980, and as
<br /> amended,42 U.S.C. See.9601 et seq. (14),and Section 2(8)of the Minnesota
<br /> Environmental Response and Liability Act, and as amended, Minnesota
<br /> Statutes Sec. 115B.02(8), and includes the term "regulated substance" as —
<br /> defined in Section 9001(2) of the underground Storage Tank Act, and as
<br /> amended,42 U.S.C. Sec.6991(2)and the term"hazardous waste"as defined
<br /> in Section 1004(5) of the Resource Conservation and Recovery Act, and as
<br /> amended, 42 U.S.C. Sec. 6903(5), and includes all regulations issued
<br /> pursuant to any of the above statutes, and any unsafe, noxious, toxic or
<br /> hazardous substance or similar terms under any other state, federal or local
<br /> law, and any other applicable environmental,land use or similar act,statute,
<br /> ordinance or regulation or as alleged or determined under common law. The
<br /> term"Hazardous Substance"includes asbestos and related substances,PCBs,
<br /> and gasoline, kerosene and all other liquid or viscous petroleum products.
<br /> Seller has complied and caused the Property to comply with all laws,
<br /> ordinances,rules,regulations,and authorities having jurisdiction over Seller,
<br /> the Property and the use by Seller of the Property,relating to any Hazardous
<br /> Substances or material.
<br /> 7. Closing. Subject to the conditions contained herein,the closing shall take place on or
<br /> before the 15"'day of April,2011 ("Closing Date"). The closing may take place on
<br /> such other date as is mutually agreed upon, or such other date as this transaction
<br /> actually closes as determined in accordance with the provisions of this Agreement.
<br /> The closing shall take place at the offices of the Title Company or at such other place
<br /> as is mutually agreeable. At the closing, Seller shall deliver to Purchaser:
<br /> 7.1 A Warranty Deed,properly executed on behalf of Seller in recordable form
<br /> with all applicable transfer taxes paid and stamps, if any, affixed thereto.
<br /> 7.2 A standard Seller's Affidavit with respect to judgments, bankruptcies, tax
<br /> liens, mechanics liens, parties in possession, unrecorded interests,
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