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01-24-05
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<br />. <br /> <br />. <br /> <br />. <br /> <br />6.1.1 Warranty Deed. A warranty deed, with state deed tax paid, <br />conveying title to the Property to Buyer, free and clear of all encumbrances, <br />except the Permitted Encumbrances ("Warranty Deed"). <br /> <br />6.1.2 Seller's Affidavit. An affidavit by Seller indicating that on the <br />Closing Date there are no outstanding, unsatisfied judgments, tax liens or <br />bankruptcies against or involving Seller or the Property, that there has been <br />no skill, labor or material furnished to the Property for which payment has not <br />been made orforwhich mechanics' liens could pe filed, and,that there are no <br />other unrecorded interests in the Property' except for. the Permitted <br />Encumbrances, together with whatever standard owner's affidavit and/or <br />indemnity (AL TA Form) which may be reasonably required by Title to issue <br />an owner's policy of title insurance with the standard exceptions waived. <br /> <br />6.1.3 Well Disclosure Gertificate. A well disclosure certificate as <br />required by Minnesota law (or appropriate indication on the Warranty Deed <br />that the same is not required). <br /> <br />6.1.4 FIRPT A Affidavit. An affidavit certifying that Seller is not a <br />"foreign person" pursuant to the United States Internal Revenue Code of <br />1986, as amended. <br /> <br />6.1.5 Assi~nment of Permits. An assignment of any permits <br />relating to the Property in form reasonably satisfactory to Buyer, transferring <br />such permits to Buyer, free and clear of all encumbrances for which Seller is <br />responsible, together with the consent of all parties whose consent to a <br />transfer is required. <br /> <br />6.1.6 Other Documents. All other documents normally required in <br />the course of business and reasonably determined by Title to be necessary <br />to transfer the Property to Buyer and evidence that Seller (a) has satisfied all <br />indebtedness with respect to the Property; (b) has obtained such termination <br />statements or releases from such secured creditors as Buyer may determine <br />to be necessary to ensure IIhat Property is subject to no liens or <br />encumbrances; (c) has obtained all consents from third parties necessary to <br />effect the terms of this Agreement and the other related agreements, <br />including without limitation the consents of all parties holding an interest in <br />the Property; (d) has provided such other documents as are reasonably <br />determined by Title to be necessary to issue an owner's policy of title <br />insurance to Buyer with respect 110 the Property with the standard exceptions <br />. deleted and otherwise in the form required pursuant to Section 5.1; and (e) <br />has duly authorized the transactions contemplated hereby. <br /> <br />7. Prorations. Seller and Buyer agree to the following prorations and allocation <br />of costs regarding this Agreement: <br /> <br />PurchaseAgreemenl3.doc <br /> <br />5 <br />
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