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2000-03-08 CC
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2000-03-08 CC
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<br />Ma'. ,j. 2000 9:~2~~,1 <br /> <br />i~ (I 9 S 4 5 P 'l <br /> <br />(g) Seller's Defaults. Seller is not in default concerning any of its obligations or <br />liabilities regarding the Property. <br /> <br />(h) FIRPTt\. Seller is not a "foreign person", "foreign partnership", "foreign trost" or <br />"foreign estate" as those terms are defined in Section 1445 of the Internal <br />Revenue Code. <br /> <br />(i) Use of Real Property. [the Real Property is usable for its current uses without <br />violating any federal, state, local or other governmental building, zoning, health, <br />safety, platting, subdivision or other law, ordinance or regulation, or any <br />applicable private restriction, and such use is a legal confonning use. <br /> <br />(j) Proceedinis. There is no action, litigation, investigation. condemnation or <br />proceeding of an)' kind pending or threatened against Seller or any portion of tb~ <br />Property. <br /> <br />(k) Aients and Emplovees. No management agents or other personnel empioyed in <br />connection with the operation of the Property have the right to continue such <br />employment after the Closing Date. There are no claims for brokerage <br />commission or other payments with respect to the existing Property, including <br />leases which will survive and remain unpaid after the Date of Closing. <br /> <br />(l) Condition. The buildings, structures and improvements included within the <br />Property are strucmrally sound and in good repair and aU mechanical, electrical, <br />heating, air conditioning, drainage, sewer, water and plumbing systems are in <br />proper working order. Please also refer to Exhibit E. <br /> <br />(m) Wells. No "wells" or "sewage treatment systems" (within the meaning of Minn. <br />Stat. ~ 1031.005, Subd. 21 as to wells and 1-Iinn.. Stat. S 115.55, Subd. 6 as to se'wage <br />treatment systems) are on the Property, except for that c.ertain well located under the <br />building which Buyer agrees to cap, at its sole cost and expense. This representation <br />is intended to satisfy the requirements of Minn. Stat. S 1031.235, SOOd. lea) and <br />Minn. Stat. S 115.55, Subd. 6. <br /> <br />Seller will indemnify Buyer, its successors and assigns, against,. and wiJ.l bold Buyer, its <br />successors and assigns, harmless from, any expenses or damages, including reasonable attorneys' <br />fees, that Buyer incurs because of the lA':illful breach of any of the above representations and <br />warranties, whether such breach is discovered before (lr after closing. Each of the <br />representations and warranties herein contained shall survive the Closing and shall not be a..+rected <br />by any investigation. verification or approval by any party thereto or by anyone on behalf of any <br />party hereto and shall not merge into Seller's deed being delivered. at Closing. <br /> <br />10. Damaie. If, prior to the Closing Date, all or any pan of the Property is <br />substantially damaged by fire casualty, the elements or any other cause, Seller shall immediately <br />give notice to Buyer of such fact and at Buyer's option (to be exercised within thirty days after <br />Seller's notice), this Agreement shall terminate, in which event neither party will have any <br /> <br />9 <br />
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