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1999-05-26
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1999-05-26
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Entry Properties
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12/21/2009 3:07:42 PM
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(k) Use of Real Propem•. To the best knowledge of Seller, the Real Property is <br /> usable for its current uses without violating any federal, state, local or other <br /> governmental building. zoning, health, safety, platting, subdivision or other law, <br /> ordinance or regulation, or any applicable private restriction, and such use is a <br /> legal conforming use <br /> (1) proceedings. There is no action, litigation, investigation, condemnation or <br /> proceeding of any kind pending or [to the best kziowledge of Seller] tlseatened <br /> against Seller or any portion of the Property. <br /> (m) Brokerage Commission. There are no claims for brokerage commission or other <br /> payments with respect to the existing Property, including leases which will <br /> survive and remain unpaid after the Date of Closing. <br /> (n) Condition. To the best .knowledge of Seller, the buildings. structures and <br /> improvements included within the Property art structurally sound and in good <br /> repair and in first-class condition, and all mechanical. electrical, heating, air <br /> conditioning, drainage, sewer, water and plumbing systems are in proper working <br /> order. <br /> Seller will indemnify Buyer, its successors and assigns, against, and will hold Buyer, its <br /> successors and assigns, harmless from, any expenses or damages, including reasonable attorneys' <br /> fees, that Buyer incurs because of' the breach of any of the above representations and warranties, <br /> whether such breach is discovered before or after closing. Each of the representations and <br /> warranties herein contained shall survive the Closing. <br /> 9. Representations and Warranties by Buyer. Buyer represents and warrants to <br /> Seller that Buyer is duly incorporated and is in good standing under the laws of the State of <br /> Minnesota; that Buyer is duly qualified to transact business in the State of Minnesota; that Buyer <br /> has the requisite of corporate power and authority to enter into this Agreement and the Buyer's <br /> Closing Documents signed by it; such documents have been duly authorized by all necessary <br /> corporate action on the part of Buyer and have been duly executed and delivered; that the <br /> execution, delivery and performance by Buyer of such documents do not conflict with or result <br /> in violation of Buyer's Articles of Incorporation or Bylaws or any judgment, order or decree of <br /> any court or arbiter to which Buyer is a party; such documents are valid and binding obligations <br /> of Buyer, and are enforceable in accordance with their terms. Buyer will indemnify Seller, its <br /> successors and assigns, against, and will bold Seller, its successors and assigns, harmless from, <br /> any expenses or damages, including reasonable attorneys' fees, that Seller incurs because of the <br /> breach of any of the above representations and warranties, whether such breach is discovered <br /> before or after closing. Consummation of this Agreement by Seller with knowledge of any such <br /> breach by Buyer will not constitute a waiver or release by Seller of any claims due to such <br /> breach. <br /> 10. Damage. [f, prior to the Closing Date, all or any part of the Property is <br /> substantially damaged by fire casualty, the elements or any other cause, Seller shall immediately <br /> 10 <br />
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