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Jan 04 08 09:48a 651-739-0963 p.8 PURCHASE AGREEMENT 81. Address I000 lVOODHILL DRIVE 82. Page 3 Date December 14, 2fl0? 83. As of the date of this Purchase Agreement, Seller represents that Selter 0 HQS (�f HAS N�T received a nolice ---------(cneac a,o:�------- 84. regarding any new improvement project from any assessing authorities, the casts of which project may be assessed 85. against the property. Any such noHce received by 5elfer atier ihe date of this Avrchase Agreement and before closing 86. shall be provided to Buyer immediately. If such notice is issued after the date of this Purchase Agreement and on 67. or before the daie of closing, then the parties rnay agree in writing, on or before the date of closing, to pay, prov�de 68, for the payment of or assume the special assessments. In the absence of such agreement, either party may declare 69, this Purchase Agfeement canceled by written notice Eo the other party, or licensee representing or assisting the other 90. party, in which case this Purchase Agreement is canceled. If either paRy declares this Purchase Agreement canceled, 91. Buyer and Seller shall immediately sign a Cance!lation of Pu�chase Agreement confirming said cancellation and 92. directing all eamest money paid hereunder to be reiunded to Buyer. 93. Buyer shall pay XQ PRORATED FROM DAY OF CLOSING ❑ 12fhs OF [] ALL � NO real estate iaxes due -----------------------(Check one.}----------------------------- 94. and payable in the year 20 0$ 95. Seller shall pay � PRORATEDTO DAY OF CLOSING ❑ 12ths OF 0 ALL ❑ ND real estate taxes due and ----------i'Ciieok orre.}�-------..�__.�_-__---°-_..___-------- 96. payable in the year 20 08 . If the closing dale is changed, the real estate taxes paid shalf, ii proratecf, be adjusted 97. to the new closi ng date, Sellerwarrants taxes due and payabJe in the year 20 08 shall be �] FUL�- ❑ PART ❑ NON- ______...._.. (Check one.}------------ 98. homestead classification. 89. If part- dr non-homestead classification is checked, Seller agrees io pay 8uyer at closing $ 100. toward the non-homestead Feal eslate taxes. Buyer agrees to pay ar�y remaining balance of non-homestead taxes 101. when they become due and payable. Buyer shall pay real estate taxes due and payable in the year following clflsing 1 �2. and thereafter, the payment of which is not otherwise herein provided. Plo representations are made concerning the 103. amount of subsequent real estate �axes. 104. POSSESSION: 5eller sha(I deliver possession of the property no later than ��EDIATELY aiter closir�g. 105. All interest; unii owners' association dues; rents; and charges forcitywater, city sewer, electricity and nalural gas shall 106. be prorated between ihe parties as of date of cfosfng. Buyer shall pay Seller for remaining gallons of fuel oil or liquid 107. petroleum gas on the day of closing, at the rate o# the last fill by Selfer. Seller agrees to remo�e ALL DEBRIS AND 108. ALL. PERSONAL PROPERTY NOT INCLUDED HEREIfV from the property by possession date. 109. 110. 111. 112_ 113. 114. 115. 116. 117. 11 S. 119. 12fl. 12�. 122. 123, 124. 125. 126. 127. 128. 129. 130. FITLE ANb Ex,4MINAl10N: Within a reasonable time period after acceptance of this Purchase Agreemerrt, Seller shatl provide one of the following tiile evidence options, at Seller's selection, which shall incl�de proper searches oovering bankruptcies, state and federal judgments and liens, and levied and pending special assessments to Buyer or Buyer's designated title service provider: (1) A commitment for an owne�'s policy of title insurance on a current ALTA form issued by an insurer licensed to write tiite insurance in Minnesota as selected by Buyer. Seller shail be responsible ior tt�e title search and exam costs related to the commitment. Buyer shal! be responsibte for al� additional costs related to the issuance of the title insurance policy(ies) including but not limited io the premium(s), Buye�s name search and plat drawing, if any. Seller shall surrender a copy of any owner's title insurance policy and Absiract of Tiife, if in Selle�'s possession or control, for fhis property to Buyer or Suyer's designated title service provider. (2) An A6stract of 7ftle certified to date if Abstract Property or a Regisiered Property Abstract (RPA) certitied to daie if Registered (Torrensj properry. Seller shall pay for the abstracting or RPA cosis and surrender any abstract for this praperty in Seller's possession or control to Buyer or Buyer's designated title service provider. lf property is Abstract and Seller does not have an Abstract of Title, Option (1) will automaticaliy app�y. Seller shall use Selter's best efforts to provide marketable tit(e by the date of closing. In the evenl Seller has not provided marketable title by the date of closing, Se(ler shall have an addiiional 30 days to rraake title marketable, or in the altemative, Buyer may waive title defects by writlen notice to Seller. In addiiion to the 34-day extension, 8uyer anci Seller may, by mutual agreemenl, further extend the closing date. Lacking such extension, �i�her party may deciare this Purcnase Agreement canceled by written notice to the other party, or licensee representing or assisiing !he other party, in which case this Purchase Agreement is caneeled. It either parly decfares this Purchase Agreement canceled, Buyer and Seller shall immediately sign a Cance!lation of Purchase AgR:ement confirming said canceltation and directing afl earnest money paid hereunder io be refunded to Buyer. ER n4-3 �o7�or� .... �