pf_01500 - Laserfiche WebLink

Home

SUPPLEMENT TO PURCHASE AGREEMENT BY AND AMONG THE FIRST NATIONAL BANK OF SAINT PAUL, AS SELLER AND COMMERS-KLODT, AS BUYER DATED: May 1, 1984 1. It is understood and agreed that Buyer has fully examined the whole of the subject premises and is buying it "as is," relying solely on Buyer's own discretion and judgment and that no representation or warranty has been made by Seller or its agents respecting the size, location, condition, improvement, age, or other features of any kind respecting the subject premises or any part thereof, whether visible or not, nor that the condition or use of the subject premises is in compliance with any or all local, state or federal ordinances, rules, regulations, laws, building or zoning ordinances, or other such similar laws. 2. Notwithstanding any provisions herein or in the attached Purchase Agreement to the contrary, in the event Buyer makes any objection to title, Seller may, at its option, elect to terminate this Purchase Agreement by written notice of such elec- tion to Buyer, in which event this Purchase Agreement shall be null and void and all earnest money paid hereunder by Buyer to Seller shall be refunded and thereafter neither party shall have any liability to the other hereunder. 3. Real estate taxes payable in the year 1984 shall be prorated between Seller and Buyer on a calendar year basis to the Date of Closing and paid accordingly. Levied assessments, up to a maximum amount of $15,700, shall be paid by Seller on the Date of Closing. All levied assessments in excess of $15,700, all pending assessments, if any, and all assessments for any and all improve- ments to be constructed in the future, including without limita- tion, the construction of a new public road and utility facilities serving the Vertimag Property (as hereinafter defined) to be constructed approximately 170 feet easterly of the subject premises (herein the "New Road"), shall be assumed and paid by Buyer. The parties hereto understand and agree that the subject premises is presently part of a tax parcel covering additional property previously sold to Vertimag Systems Corporation ("Vertimag"). Accordingly, the parties agree that the said prorata share of real estate taxes and the determination of the amount of levied assessments which are attributed to the subject premises and which the Seller has herein agreed to pay shall be determined by an estimate thereof prepared by the appropriate governmental agencies (including the Roseville City Engineer's Office) prior to the Date of Closing. The parties agree that such estimate shall be binding upon the parties and that no further adjustment in the payment of amounts for said taxes or assessments shall be made after the Date of Closing.