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2014_0421_CCpacket
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2014_0421_CCpacket
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7/8/2014 1:43:38 PM
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46 <br />47 <br />48 <br />49 <br />50 <br />51 <br />52 <br />53 <br />54 <br />55 <br />56 <br />57 <br />58 <br />59 <br />60 <br />61 <br />62 <br />63 <br />64 <br />65 <br />66 <br />67 <br />68 <br />69 <br />70 <br />71 <br />72 <br />73 <br />74 <br />75 <br />76 <br />77 <br />78 <br />79 <br />80 <br />81 <br />82 <br />83 <br />84 <br />85 <br />86 <br />87 <br />88 <br />89 <br />90 <br />condition of the Property as Buyer determines is necessary for Buyer to close on this <br />transaction. <br />C. Survev. Buyer shall have determined, on or before the Contingency Date, that all <br />matters (including but not limited to the acreage of the Land, the location of any <br />improvements, wetlands and easements, and the location of the property boundaries) <br />shown on the Survey (as defined below) and by boundary markers to be placed on the <br />Land in accordance with Provision 6B below, are satisfactory to the Buyer. <br />D. Phvsical Condition of Pro�erty. The Buyer shall have determined, on or before the <br />Contingency Date, that it is satisfied with the physical condition of the Property, and <br />with the zoning, access, drainage, floodplain designation, wetland areas, acreage, <br />dimensions, and all other features and conditions of the Property which Buyer deems <br />necessary for Buyer to purchase the Property. <br />E. Le�al Descri�tion. Buyer shall have determined, on or before the Contingency Date, <br />that it is satisfied with the legal description and rights granted to others set forth in the <br />Certificate of Title for the Property. The Seller agrees to cooperate with the Buyer to <br />make any modifications to the legal description shown in the Certificate of Title <br />which the Title Company, the Ramsey County Examiner of Titles and/or the Buyer <br />deem necessary to clarify the easement and easement rights which are set forth in the <br />legal description shown on the Certificate of Title. <br />The "Contingency Date" shall be ninety (90) days after the Effective Date of this <br />Agreement. If any of the foregoing contingencies have not been satisfied (which <br />determination shall be within the Buyer's exclusive discretion) on or before the <br />Contingency Date, then this Agreement may be terminated, at Buyer's option, by written <br />notice from Buyer to Seller. Such notice of termination may be given at any time before <br />Closing. Upon such termination the Earnest Money (together with any interest accruing <br />thereon) shall be immediately returned to Buyer, and neither party shall thereafter have <br />any further rights against or obligations to the other hereunder, except as expressly <br />provided otherwise herein. All the contingencies set forth in this Agreement are <br />specif'ically stated and agreed to be for the sole and exclusive benefit of the Buyer and the <br />Buyer shall have the right to unilaterally waive any contingency by written notice to <br />Seller. Except as otherwise provided in Section 20 below, the costs incurred by the <br />Buyer to determine whether the contingencies have been satisfied shall be paid by the <br />Buyer. <br />Notwithstanding anything contained herein to the contrary, if one or more of the <br />contingencies set forth in this Provision 3 has not been satisfied by the Contingency Date <br />stated above, the Buyer may extend the Contingency Date for thirty (30) days by <br />delivering to the Title Company an additional $1,000.00 of Earnest Money and written <br />notice of such extension to Seller on or prior to the original Contingency Date. In the <br />event that the Contingency Date is extended by the Buyer as provided herein, all <br />references in the Purchase Agreement to the Contingency Date shall be that date which is <br />2 <br />
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