2006-02-22 CC Packet - Laserfiche WebLink

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b. Restrictions relating to use or improvement of the Property without effective forfeiture provisions; c. Reservation of any mineral rights by the State of Minnesota; d. Utility and drainage easements which do not interfere with existing or planned improvements; e. The lien of real property taxes and the lien of special assessments and interest due thereon, if any, payable in the year of Closing subject to proration thereof at the time of Closing; and f. Exceptions to title which constitute encumbrances, restrictions or easements which have been disclosed to Buyer and accepted by Buyer in this Agreement (if any): Exceptions. g. Sellers shall at their expense within twenty (20) days of the date of the Notice of Intent to Acquire is sent provide Buyer with an abstract of title to the Property certified to the date of the Notice of Intent to Acquire or provide Buyer at Sellers' expense with a commitment for title insurance in a form acceptable to Buyer. The abstract and/or title commitment shall reflect that Sellers are the Owner of the Property subject only to such liens and encumbrances as are acceptable to the Buyer. If title to the Property is unacceptable, the Buyer may in its sole discretion, terminate its option to purchase or proceed to close. 10. INSPECTION OF THE PROPERTY. During the Option Term, Buyer and Buyer's agents shall be entitled to enter upon the Property to perform soil tests, environmental tests, and such other inspections, tests and studies as Buyer deems necessary, all at Buyer's sole cost and expense. Buyer shall, prior to expiration of the Option Term, restore the Property to the condition as it exists as of the date hereof and indemnify, defend and hold Sellers harmless from 3 11