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2015_0406_CCpacket
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2015_0406_CCpacket
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Period, and is not waived by Buyer, this Agreement shall thereupon be void at the written option <br />of Buyer, and Seller shall return the Earnest Money to Buyer, and Buyer and Seller shall execute <br />and deliver to each other documentation effecting the termination of this Agreement. As a <br />contingent Purchase Agreement, the termination of this Agreement is not required pursuant to <br />Minnesota Statutes Section 559.21, et. seq. <br />6. TITLE EXAMINATION/CURING TITLE DEFECTS. Buyer shall, at its expense <br />and within a reasonable time after Seller's acceptance of this Agreement, obtain a commitment <br />for title insurance ("Commitment") for the Property. Buyer shall have 10 business days after <br />receipt of the later of the commitment and executed Purchase Agreement to examine the same <br />and to deliver written objections to title, if any, to Seller, or Buyer's right to do so shall be <br />deemed waived. Seller shall have until the end of the Due Diligence Period (or such later date as <br />the parties may agree upon) to make title marketable, at Seller's cost. In the event that title to the <br />Property cannot be made marketable or is not made marketable by Seller within the Due <br />Diligence Period, then this Agreement may be terminated at the option of Buyer. <br />7. ENVIRONMENTAL INVESTIGATIONS. Buyer acknowledges that it has been <br />authorized by Seller to enter the Property and conduct environmental investigations of the <br />Property, and has been supplied with the results of prior environmental investigations by Seller. <br />8. REAL ESTATE TAXES AND SPECIAL ASSESSMENTS. The parties agree and <br />acknowledge that there are no real estate taxes or special assessments levied or pending against <br />the Property. <br />9. CLOSING DATE. The date of closing shall be on or before June 30, 2015 ("Closing <br />Date"). Delivery of all papers and the closing shall be made at the offices of Buyer, 2660 Civic <br />Center Drive, Roseville, Minnesota or at such other location as is mutually agreed upon by the <br />parties. All deliveries and notices to Buyer shall be made as provided in Section 17 of this <br />Agreement. <br />10. POSSESSION/UTILITIES. <br />a. Possession. Seller agrees to deliver possession of the Property free of all personal <br />property, junlc, barrels, and debris to Buyer not later than the Closing Date. <br />b. Utilities. Seller shall pay all utility charges, if any, prior to the Closing Date. <br />11. SELLER'S REPRESENTATIONS. Seller hereby represents to Buyer and Seller will <br />represent to Buyer as of the Closing Date that: <br />a. Sewer and water. The Property is connected to City sewer and City water. <br />b. Mechanics' Liens. Prior to the closing, Seller shall pay in full all amounts due <br />for labor, materials, machinery, fixtures or tools furnished within the 120 days <br />immediately preceding the closing in connection with construction, alteration or <br />repair of any structure upon or improvement to the Property. <br />3 <br />458632v2 MNI RS275-9 <br />
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