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Alex's Lawn&Turf, LLC 651-415-5725 p.3 <br /> Mr, Lou Suski <br /> October 1, 2014 <br /> Page 2 <br /> ENVIRONMENTAL: Within 10 days of executing the Purchase Agreement, Buyer will, <br /> at its expense, order a new or update existing Phase I <br /> Environmental Assessment and such further independent <br /> investigation concerning the existence of hazardous or toxic <br /> substances on the property or adjacent properties whose <br /> environmental status could materially affect the property, and any <br /> other matters relating to environmental compliance. Seller will <br /> provide any existing Environmental Reports it has in its <br /> possession. <br /> ESCROW TERMS: The Earnest Money is fully refundable to Buyer through the <br /> Inspection Period and in the event of Seller default. If Buyer <br /> completes due diligence, elects to go forward and fails to close <br /> this transaction,the Earnest Money is non-refundable. <br /> SELLER'S TITLE: Within 5 days of executing the Purchase Agreement, Seller will, <br /> deliver a commitment for an owner's policy of title insurance. <br /> Buyer will pay for the tide policy at closing. <br /> SURVEY: Within 5 days of executing the Purchase Agreement, Seller will <br /> provide any survey's they have in their possession. Seller will <br /> agree to extend closing, if necessary, to resolve title and legal <br /> issues. <br /> TAXES&ASSESSMENTS: Real estate taxes will be prorated as of the date of closing. Seller <br /> will pay in full any back taxes and any assessments related to the <br /> property at closing. <br /> PURCHASE AGREEMENTS: Buyer will prepare, at its expense, a Purchase Agreement to be <br /> reviewed, negotiated in good faith and executed by Buyer and <br /> Seller upon execution of this document Seller agrees not to <br /> market the Property for sale after the execution of mutually <br /> agreed upon Purchase Agreement through the end of the Buyer's <br /> Inspection Period. <br /> ADDITIONAL ITEMS: Within 10 days of executing the Purchase Agreement, Seller shall <br /> provide Buyer all appropriate contracts, plans and documentation <br /> for the property including, but not limited to, plans and <br /> specifications, all service and employment contracts, all <br /> insurance information and any maintenance records. <br /> REGULATORY APPROVALS: Buyer, at its expense and with the cooperation of the Seller,will <br /> be responsible for obtaining all regulatory approvals. <br /> SUBDIVISION: Prior to closing, seller will be responsible for subdividing the land <br /> for the water tower. Subdivision shall be agreed to by buyer as <br /> well. <br /> ITEMS INCLUDED: All items currently in the building and upon the property shall be <br /> included in the purchase, except the following: <br /> • Fire Truck <br /> • Lion's Club Trailers <br /> CLOSING: Closing will take place within 15 days after waiving of all <br /> 61 <br />