2009-06-10 CC Packet W/Handouts - Laserfiche WebLink

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18. Proration. All income and operating expenses, if any, of the Business including, but not limited to, janitor costs, equipment maintenance, telephone charges, trash removal and utilities shall be responsibly and equitably apportioned between Buyer and Seller as of Closing. 19. Brokers or Agents. The parties are using the services of Gaughan Companies as the broker in this transaction, with the agent being George Novak. The commission paid to the Broker shall be . of the purchase price. Tammy Kiger Home Smart Real~c. is representing the buyer in this transaction with Gaughan Companies paying. to buyer's agent. 20. Legal ReDresentation. Buyer and Seller have been advised to consult an attorney with questions regarding this Agreement. 2 I. Further Actions. Seller and Buyer agree to execute and deliver to each other after the Closing Date such documents and instruments, and to take such other actions after the Closing Date as are reasonably necessary to carry out this Agreement and the transactions described herein. 22. Health DeDartment and Related Matters; Release. Any corrective measures that any health department requires be made as a part of this transaction shall be made by Buyer at Buyer's sole expense. 23. Liquor Licenses. Buyer shall obtain own liquor licenses. 24. Conditions of Business and ProDettv and Assets. Due to the nature of the business and new ownership that will be taking over the business certain aspects of the business may change the name, clientele, prices, hours, gross income, net income, and expenses. In general the way the new owner will run the business. Seller and Broker Gaughan Companies (George Novak) makes no warranties of any kind relating to any gross income, net income, expenses, and any equipment used to operate the business located at 7093 20th Ave S, Centerville, Minnesota. Buyer has the right to perform in its sole and absolute discretion, its own independent investigations. Buyer specifically acknowledges that buyer is purchasing the transferred assets in an: As Is: and "With All Faults" condition as of the closing date and thereafter. Buyer acknowledges that seller shall have no obligation to correct any conditions or alleged defects discovered by Buyer in the course of Buyers investigations of the transferred assets or thereafter. 25. All operating statements, fmancial statements or other financial data that have been supplied by Seller to Buyer are true, correct and complete and have been prepared in accordance with generally accepted accounting principles. 26. CONDEMNA TlONfNA TURAL DISASTER: If, prior to the Closing Date, condemnation proceedings are commenced against all or any part of the Property in which Business is located, Seller or licensee representing or assisting Seller, shall it