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2000-03-08 CC
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2000-03-08 CC
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<br />M a,~' I ~. 2 I:: 0 0 9 : 2 :),~ M <br /> <br />Nc3E45 D ' <br /> <br />there\\ith. paying any excess oyer to Seller. Seller will pay any ddiciency, when <br />such general real estate taxes and instalhnents of special assessments including <br />interest payable therewith are knOVI'11. <br /> <br />(e) RecordiJ;tt;! Costs. Seller will pay the cost of recording all documents necessary to <br />place record title in the condition warranted and requested by Seller in tIllS <br />Agreement. Buyer will pay the cost of recording all other documents. <br /> <br />(f) Other Costs. All other operating costs of the Property, will be allocated between <br />Seller and Buyer as of the Closing Date, so that SeUer pays that part of such other <br />operating costs payable before the Closing Date, and Buyer pays that part of such <br />operating costs payable from and after the Closing Date. <br /> <br />(g) Attomev's Fees. Each of the panies will pay its o\\n attorneys fees, except that a <br />party defaulting Wlder this Agreement or any closing docwnent will pay the <br />reasonable attorneys' fees and court costs incurred by the nondefaulting party to <br />enforce its rights regarding such default. <br /> <br />6. Title Examination. Title Examination will be conducted as follows: <br /> <br />fa) Seller's Title Evidence. Seller shall. as soon as reasonably possible after the date <br />of this Agreement, furnish the follm,ving (collectively, "Title Evidence") to Buyer, <br />at Seiler's sole cost and expense: <br /> <br />(1) Title Insurance Commitment. A commitment ("Title Commitment") <br />for an AL TA Fot'Cl B 1970 O"'ners Policy of Title Insurance insuring <br />title to the Real Property, deleting staudard exceptions and inoluding <br />affumative insurance regarding zoning, contiguity, appurten3l1t <br />easements and such other matters as may be identified by Buyer, in the <br />amount of the Purchase Price, issued by Universal Title ("Title"). The <br />Title Commitment will comxnit Title to insure title to the Property in <br />the full amount of the Purchase Price. If the Property is abstract <br />property, Seller shall also deliver to Title or Buyer an Abstract of Title <br />to the Real Property certified to a current date to include aU appropriate <br />judgment and bankruptcy searches. <br /> <br />(2) Survev. An ALTAI ACSM Urban Land Title Survey ("Survey") meeting <br />Minimum. Standard Detail Requirements for an Urban Survey (1992) and <br />including items 1 tbmugh 4 and 6 through 12 of Table A of said <br />Minimum. Standard Detail Requirements, or a Registered Land Survey, if <br />applicable, prepared by a surveyor properly licensed to practice in the <br />state of Minnesota and reasonably acceptable to Buyer and Buyer's <br />Lender. if any. The Survey shall be delivered to Buyer and Title. <br /> <br />(3) uee Searches. A report of UCC Searches made of the Uniform <br />Commercial Code records of the Secretary of State of Minnesota, made <br /> <br />6 <br />
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