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0 r s.' or more of the above reasons shall be Plot* option of BUYER and The termination of this Agreement for sny one BUYER may waive any one or more of the conditions or any one or more portions thereof. However, such waiver must be in writing and the waiver of any one condition or portion thereof shall not affect the validity and effect of all other conditions to which this sale is subject. bis Chicago Title es hereby designate 7. In the event of the exercise and acceptance 4820 WU�7'7th pSt Insurance Company whose address is Edina, Minnesota 55435 as their Escrow Agent and such designation is irrevocable. The escrow fee shall be borne equally between the pa►4ies. The powers of the Escrow Agent, the rights of the parties with respect to such Escrow, and the eonsumyttiation of this sale are as follows: a. The Escrow Agent steal; have full power and authority to act on behalf of both parties at 0 times after the execution of this Agreement until such sale is finally consummated or terminated under the provisions of this Agreement. The Escrow Agent shall have full power and authority to do all thing.. necessary or deemed by it to be expedient toward the consummation of the sale and/or the carrying out of the terms of this Agreement without any liability whatsoever to it. Its powers are irrevocable and shall continue until consummation or termination regardless of any subsequent death, disability, other incapacity or act on the part of any one or more of the parties. b. Upon the execution of this Agreement, the placing of the Dead in escrow and the payment to the Escrow Agent of the earnest money, the Deed shall be deemed delivered as of the date of its execution, the delivery to be subject to defeasance only in the event this sale is not consummated on the basis of one or more of the grounds set forth in this Agreement. Upon consummation of the sale, the delivery of the Deed from SELLER to BUYER shall be deemed indefeasible and fully executed as of the date of execution of the Deed. c. Upon the fulfillment of the conditions precedent to the consummation of this sale, or the waiver by the BUYER, of all the conditions which have not been fulfilled, the BUYER shall notify the SELLER and the Escrow Agent in writing of their fulfillment, or waiver, and designate a time for closing in the notice, which shall be not less than 10, not more than 30 days thereafter. Upon receipt of such notice by the Escrow Agent and the payment by the BUYER to the Escrow Agent of the purchase price less the earnest money theretofore paid, the Escrow Agent shall proceed to consummate the sale at the time specified at Escrow Agent's above address, deliver the Deed to the BUYER and the purchase price less expenses to the SELLER and the BUYER shall be entitled to possession of the premises forthwith and SELLERS shall take all necessary steps to have any tenants vacate by such date. if the tenants shall not have vacated by such date, BUYER shall have the option to proceed as follows: 1111 Escrow Agent shall retain one-fourth of the purchase price until such premises have been vacated, and when BUYER shall notify Escrow Agent that said premises have been vacated, Escrow Agent shall pay to BUYERS any costs incurred by BUYER in evicting such tenants up to the amount of the one-fourth of the purchase price retained by it and shall pay the balance of the purchase price then held by it to SELLERS. (2) If the property has not been vacated by the date for closing, BUYER may, at its option, void this Agreement and all monies being held by Escrow Agent will be returned to BUYER. S. All property taxes shall be pro -rated but all assessments, special levies and other charges constituting a lien shall be paid by the SELLER or by the Escrow Agent on behalf of SELLER from the proceeds of the sale. &. The SELLER shall retain responsibility and risk of loss for all buildings, equipment or other improvements located on the above -described property caused by fire, storm or any other casualty or cause whatsoever until the consummation of the purchase of said property on the terms and conditions otherwise set forth herein. 10. This Agreement shall be governed by and controlled by the laws of the State of Minnesota 11. This Agreement may be assigned by BUYER, his or its heirs, successors and assigns, In whole or In part, before and afte+ acceptance. and shall be binding upon and inure to the benefit of the respective heirs, personal representa- tives, successors and assigns of the parties hereto. 1Z. In addition to any other method, all notices herein may be given by a writing enclosed in an envelope with ,proper postage affixed, addressed to the parties and addresses herein given and duly placed in the United States Mail. A notice so given shall be deemed delivered when mailed. IN WITNESS WHEREOF. the parties have respectively fully executed this Agreement as of this day 0 TNESS: aro 9875(Back I orac K-B-E, Inc. 9 BY: SELLty Henry A. Kramm, President