Laserfiche WebLink
.understands that Seller has entered into a farm lease for the 2017 crap` <br />growing. season. The 2017 Farm Lease Agreement is attached hereto as <br />Exhibit "B." The Farm Lease shall be a Permitted Encumbrance. <br />(b) Buyer's Objections: Within Ten (10) days after. receiving the last of the Title <br />Evidence, Buyer will make written objections ("Objections") to the marketability <br />of the title and/or contents of the Title Evidence: Buyer's failure to make <br />Objections Within such time period will constitute waiver of Objections for any <br />items .disclosed on the Title Commitment and any survey. Buyer shall be deemed <br />to have automatically made Objections to any mortgage; judgment, tax lien, <br />mechanic's lien and any other monetary lien .against the Property ("Monetary <br />Liens"). Any easements, restrictions and covenants of record which do not affect <br />Buyer's planned use of.theProperty by Buyer shall be Permitted Encumbrances. <br />Buyer agrees that the easements described to the legal description setforth.on <br />Exhibit "A' shall all be Permitted Encumbrances. The Farm Lease shall also be a <br />Permitted Encumbrance. Any other matters shown on such Title Evidence and <br />not.objected to or waived by Buyer shall be a Permitted Encumbrance hereunder; <br />Buyer may, at or prior to Closing, notify Seller. in writing of any GAP title issues. <br />first raised by the Title Company after buyer's receipt of the initial. Title <br />.Commitment; provided. that Buyer must notify Seller of such objection to title <br />within Five (5) Business Days of being made aware of any such issue. <br />Seller will have One Hundred Twenty (120) days.. after receipt of any Objections <br />to cure. the Objections, during which period the Closing will be postponed as <br />necessary. Seller shall use its best efforts to correct any Objections. <br />Notwithstanding the foregoing, if Seller reasonably believes that the Objection <br />cannot be cured within 120 day period, Seller shall have the right to notify Buyer <br />that the Seller does not intend to cure the Objection. in that event, Buyer will <br />have the option to do one of the following: <br />Terminate this Agreement and receive a refund..of the Earnest Money and <br />the Additional. Earnest Money; or <br />(ii) Waive the objections and proceed to close, <br />Notwithstanding, if the Objections are Monetary Liens and. the Monetary Liens <br />may be paid and satisfied. at Closing out of the Purchase Price, Buyer shall be <br />obligated to close this transaction. and have the Monetary Liens. satisfied from <br />closing proceeds. <br />S. Representations and Warranties Seller. Seller rep3resents and warrants the following to <br />Buyer: <br />(a) Representations and Warranties -b-. Seller. Seller.is a duly organized hinted <br />liability company under the laws of the. State of Minnesota; Seller is duly <br />qualified to transact business in the State of Minnesota', the manager.signing on <br />behalf of Seller has the requisite power and authority to enter into this <br />Agreement; and the execution, delivery and performance by Seller of this <br />Agreement will not. conflict with or result in violation of Se11er's Articles of <br />Organization or Bylaws or any j udgment, order or decree of any court. or arbiter <br />to which Seller is a party. <br />(b) Title to Pro a Seller owns`the Property, free and clear of all encumbrances. <br />0 <br />