2000-02-23 Packet - Laserfiche WebLink

Home Browse Search

(b) Title to Real Property. Seller owns the Real Property, free and clear of all encumbrances. (c) Title to Personal Property. Seller owns the Personal Property, free and clear of all encumbrances (d) Contracts. Seller has made available to Buyer a correct and complete copy of each Contract and its amendments. The Contracts are in full force and neither Seller, nor any other party to the Contacts, is in default under the Contracts. All other contracts in effect regarding the Property are terminable on or before the Closing Date. (e) Permits. Seller has made available to Buyer a correct and complete copy of each Permit and its amendments. The Permits are in full force, and Seller is not in default under the Permits. No other permits are required from any govertunental entity in order to operate the Property as it is now operated. (f) (Juntas. Seller has received no notice of actual or threatened reduction or curtailment of any utility service now supplied to the Real Property. (g) Certificates of Occupancy. Seller has received no notice of actual or threatened cancellation or suspension of any certificates of occupancy for any portion of the Real Property. (h) Assessments. Seller has received no notice of actual or threatened special assessments or reassessments of the Real Property. (i) Fevimpmental Laws. Seller acknowledges that releases of contaminants may have occurred on portions of the Property, resulting, or possibly resulting, from the past storage and distribution of petroleum products and other hflardous substances on the Property by Seller, Seller's predecessors in interest or by affiliates of Seller. Seller is presently working with the Minnesota Pollution Control Agency ( "141PCA ") to itwestigate and remediate such releases. Buyer is in receipt of the Phase 1 Environmental She Assessment prepared by Braun Intertec dated January 24, 2000 ( "Phase I "). According to said Phase I, a Limited Site Investigation is being conducted through the MPCA Tank and Spills Program. Seller agrees to cooperate with the MPCA and any other applicable governmental agencies during such investigation and shall comply with and to pay the entire actual cost for implementation of any remedial action plan. Seller shall be solely responsible to the MPCA for all compliance with directives, orders, or requirements of the MPCA pursuant to the Tank and Spills program and any other program deemed accessary by the MPCA or other applicable governmental agency, and for any reporting to the MPCA or other applicable governmental agency under state, federal or local law. Seller agrees to fully indemnify Buyer in a form satisfactory to Buyer, as described in Section 3 (h.) above for any and all claims, demands, causes of action, loss, 9