2021-08-11 CC Packet - Laserfiche WebLink

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F. Seller's Defaults. Seller is not in default concerning any of its obligations or liabilities regarding the Real Property. G. FIRPTA. Seller is not a "foreign person", "foreign partnership", "foreign trust" or "foreign estate" as those terms are defined in Section 1445 of the Internal Revenue Code. H. Proceedings. There is no action, litigation, investigation, condemnation, or proceeding of any kind pending or to the best knowledge of Seller, threatened against Seller or any portion of the Real Property. I. Insurance. As of the date of this Agreement and the Closing Date, Seller has received no notice or complaint from any insurance underwriter relating to the condition of or operations of the Real Property, and Seller represents that Seller has maintained adequate ge J. Well Disclosure/Storage Tanks. There are no wells, monitoring wells or storage tanks on the Real Property within the meaning of Minn. Stat. § 103.I. This warranty is given pursuant to Minn. Stat. § 103.I. K. Methamphetamine Production methamphetamine production has occurred on the Real Property. L. Special Assessments. There are no pending or levied assessments in connection with the Real Property. The Buyer has agreed to make in kind payments related to assessments as part of its financial commitments as set forth in Exhibit B and Exhibit C, hereto. M. Documents. Seller has or will promptly provide Buyer accurate and possession regarding the Real Property. N. Community Development Block Grants. Seller used funds from Community Development Block Grants to improve the Real Property. These Grants created conditions that run with the land and will bind future owners. Buyer is required to obey these conditions as set forth in the Grant documents. Buyer agrees and shall conform to all requirements of the Grants as if it were the Seller, and in the event that Buyer does not honor these obligations, and if such failure continues for a period of thirty (30) days after written notice thereof, Seller shall have the right to take any action it deems necessary to conform to the Grants obligations. Buyer and Seller agree to transfer the obligations and conditions set forth in this subparagraph into a future Developers Agreement between the parties. O. Memorandum Of Understanding. The parties previously executed a Memorandum of Understanding, a copy of which is attached hereto and incorporated , a copy of which is attached hereto and incorporated herein as Exhibit C ( the terms and conditions of the MOU and the Buyer RFP Response are incorporated into this Agreement by reference. Buyer and Seller 3