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2000-03-08 Packet
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2000-03-08 Packet
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Aar. 2:10 9:2)A kis•9645 a, 7 <br /> therewith, paying any excess over to Seller. Seller will pay any deficiency, when <br /> such general real estate taxes and installments of special assessments including <br /> interest payable therewith are known. <br /> (e) Recrmline 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 this <br /> Agreement. Buyer will pay the cost of recording all other documents. <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 Seller 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 /> (g) Attorney's Fees. Each of the panics will pay its own attorneys fees, except that a <br /> party defaulting under this Agreement or any closing document will pay the <br /> reasonable attorneys' fees and court costs incurred by the nondefaultang party to <br /> enforce its rights regarding such default. <br /> 6. Title Examination. Title Examination will be conducted as fellows: <br /> (a) Seller's Title Evidence. Seller shall, as soon as reasonably possible after the date <br /> of this Agreement, furnish the following (collectively, "Title Evidence ") to Buyer, <br /> at Seller's sole cost and expense: <br /> (1) Title Insurance Commitment. A commitment ( "Title Commitment ") <br /> for an ALTA Form B 1970 Owner's Policy of Title Insurance insuring <br /> title to the Real Property, deleting standard exceptions and including <br /> affirmative insurance regarding zoning, contiguity, appurtenant <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 commit 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 all appropriate <br /> judgment and bankruptcy searches. <br /> (2) Survey. An ALTA/ACSM Urban Land Title Survey ( "Survey") meeting <br /> Minimum Standard Detail Requirements for an Urban Survey (1992) and <br /> including items 1 through 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 /> (3) TT:C Searches. .4 report of UCC Searches made of the Uniform <br /> Commercial Code records of the Secretary of State of Minnesota, made <br /> 6 <br />
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