Laserfiche WebLink
understands that Seller has entered into a farm lease for the 2017.crop` <br />growing season. The.2017 Fatm Lease Agreement is attached hereto as <br />Exhibit " S. " The Farm Lease shall be a Permitted Encumbrance.. <br />(b) Bu ger Objections: Within Ten (10) days after receiving the last of the Title <br />Evidence, Buyer will make written objections ("Objections") to.the marketability <br />ofthe 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 the Prdperty by Buyer shall be Permitted Encumbrances. <br />Buyer agrees that the easements described in the legal description set forth on <br />Exhibit "A" shall all be•Pemitted Encumbrances.. The Farm Lease shall also be a <br />Permitted Encumbrance. Any other mutters 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 dtle;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 />Q) 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 />8. Re-resentatinns and Warranties Seller: Seller; represents and warrants the following to <br />Buyer. <br />(a) Rg resentati6ns and Warranties by Seller Seller is a duly organized limited <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. Seller's Articles of <br />Organization or Bylaws or any judgment, order or decree of any court or arbiter <br />to which Seller is a party; <br />{t) Titla fo Pro e . Seller owns the Property, free and clear of all encumbrances <br />0 <br />