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<br />NOV. 3.1999 lI:68RM <br /> <br />~Tf'~CO <br /> <br />NO.5,,~ <br /> <br />P.JV::'--- <br /> <br />notice to Buyer the parties shall perform this Purchase Agreement according to its terms. If no such notice <br />is given or if notice is given, but title is not corrected within the time provided for, this Purchase <br />Agreement shall be null and void, at the option of Buyer; neither party shall be liable for damages <br />hereunder to the other and earnest money shaH be refunded to Buyer; Buyer and SeHer agree to sign a <br />cancellation of purchase agreement. Buyer agrees to close upon issuance of an Owner's Title Policy with <br />all exceptions waived in favor of the Buyer in tl1e full amount oftl1e purchase price plus tl1e value of <br />anticipated improvements. <br /> <br />8. DEED ~ A Warranty Deed conveying marketable title to the Subject Property, subject only to the <br />following exception ( the "permitted encumbrances"): <br /> <br />a. building and zoning laws, ordinances, state and federal regulation; <br /> <br />b. utility and drainage easements of record; <br /> <br />c. restrictions relating to use or improvement of premises witl10ut effective forfeiture provision; <br /> <br />d. reservation of any minerals or mineral rights to the State of Minnesota. <br /> <br />9. NOTICES - All notices which are required or permitted to be given by either party to the other shall be in <br />writing and shall be delivered to the respective party as its address set forth below, by registered or certified <br />mail, with postage prepaid, or by personally delivering or serving said notice upon tile other party at the <br />following addresses: <br /> <br />As to Buyer: D&TIncorporated or ;/f>1j'1/5 <br />705 West Lake Street <br />Mpls, MN 55408 <br />Atm: Loyd Drilling, President <br />612-823-0778 <br /> <br />As to Seller: Center Oaks LLP <br />13 736 Johnson Street NE <br />Ham Lake, MN 55304 <br />Attn: Kent Roessler, CEO <br />612-757-4052 <br /> <br />or to such otller address as either party may hereafter specify by notice in writing to the other. Said notices <br />shall be valid and binding only upon receipt by the party to whom it is addressed. <br /> <br />10. ENTIRE AGREEMENT - This Purchase Agreement, any attached exhibits and any addenda or <br />amendments signed by the parties, shall constitute the entire agreement between Seller and Buyer, and <br />supersedes any other written or oral agreements be~n Seller and Buyer. This Purchase Agreement can <br />be modified only in writing signed by Seller and B~er. <br /> <br />11. GOVERNING LAW - The parties agree tl1at this Aar~'*t shall be governed in all respects by the laws <br />of tile State of Minnesota. ' <br /> <br />. "',eklcenterVillepa <br />