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2014_0421_CCpacket
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2014_0421_CCpacket
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the Title Commitment and/or to any items shown on the Survey. Any matter shown <br />in the Certificate of Title, Title Commitment or on the Survey not objected to by the <br />Buyer within said 30 day period Contingency Date shall be a"Permitted <br />Encumbrance." If Buyer delivers to Seller any Objections, Seller will use Seller's <br />best efforts to cure or satisfy the Objections on or before the Closing Date. If the <br />Objections are not cured on or before the Closing Date, the Buyer will have the <br />option to do the following: <br />i. Terminate this Agreement and receive a full refund of the Earnest Money <br />(together with any interest accruing thereon); or <br />ii. Waive the Objections and proceed to Closing. <br />7. Operation Prior to Closing. During the period from the date of Seller's acceptance of this <br />Agreement to the earlier of the date of actual Closing or termination of the Agreement <br />(the "Executory Period"), the Seller shall execute no contracts, easements, leases or other <br />agreements regarding the Property without the prior written consent of Buyer. <br />Seller will give Buyer written notice of any citation or other notice or communication <br />which Seller receives subsequent to the date the Seller signs this Agreement, from any <br />governmental authority or agency concerning any alleged violation of any law, <br />ordinance, code, rule, regulation or order regulating the Property of the use thereof. <br />The Seller shall not take any action, or cause to be recorded against the Property, any <br />documents which change the condition of title to the Property from that shown in the <br />Title Commitment without the prior written consent of the Buyer. <br />8. Re�resentations and Warranties bv Seller. The Seller represents and warrants to Buyer as <br />follows (which representations and warranties shall be true and correct as of the date the <br />Seller signs this Agreement and as of the date of actual Closing): <br />A. Seller Authoritv. Seller has the requisite power and authority to enter into, perform <br />and execute this Agreement and the Seller's Closing Documents. <br />B. Unrecorded Document�. To the best of Seller's knowledge there are no unrecorded <br />leases, contracts, easements, agreements or other documents affecting the Property. <br />C. Hazardous Substances. Except as otherwise disclosed in Section 20 below, there are, <br />to the best of Seller's actual knowledge, no Hazardous Substances (as defined in <br />Minn. Stat. § 115B.02), asbestos, urea formaldehyde, polychlorinated biphenyls, <br />radon gas or petroleum products (including gasoline, fuel oil, crude oil and various <br />constituents of such products) which exist on, have been placed or stored on, or have <br />been released from, the Property by any person in violation of any law. For purposes <br />of this Section, "seller's actual knowledge" shall refer to the actual knowledge of <br />John Ward <br />5 <br />
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