Agenda - Council - 12/09/2008 - Laserfiche WebLink

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any time. on or before the Contingency Date. Upon such termination, the Earnest Money. and any interest accrued thereon shall be released to BUYER and upon such return, neither party will have any further rights or obligations. regarding this Agreement or the Property. If not terminated on or before the "Contingency Date" by BUYER; then in such event, all Earnest Money shall be non-refundable, except for SELLER'S obligations as provided in this Purchase Agreement. All the contingencies set forth in this Agreement are specifically stated and agreed to be for the sole and exclusive benefit of the BUYER and the BUYER shall have the right to unilaterally waive any contingency by written notice to SELLER. 4. Closin . The closing of the purchase and sale contemplated by this Agreement. (the "Closing") shall occur on or before February 2, 2009 (the "Closing Date"). .The Closing shall take place at the offices of TWIN CITY TITLE COMPANY LLC, 433 Jackson Street, Anoka; Minnesota,. or at such other place as may be agreed to, SELLER agrees to deliver possession of the Property to BUYER on the Closing Date. (a) SELLER's Closing Documents. On the Closing Date, SELLER shall execute and/or deliver to BUYER the following (collectively "SELLER'S Closing Documents"): (1) .Deed. A Warranty Deed, in form reasonably satisfactory to BUYER, conveying the Property to BUYER, free. and clear of all encumbrances, except the Permitted Encumbrances hereafter defined: (2) SELLER'S Affidavit. A customary Affidavit of Title by SELLER indicating that on the Closing Date there are no outstanding, unsatisfied judgments; tax liens or bankruptcies against or involving SELLER or the Real Property; that there has been no skill, labor or material furnished to -the Real Property by or on behalf of SELLER for. which payment has not been made or for which mechanics' liens could be filed; and that there are no other unrecorded interests in the Real Property. (3) FIRPTA Affidavit. Anon-foreign affidavit, properly executed and- in recordable form, containing such information as is required by IRC Section 1445(b)(2) and its regulations. (4) IRS Reporting Form. The appropriate Federal Income Tax reporting form, if any is required. (5) Well Certificate. The Minnesota Form Well Certificate indicating the existence or presence of any wells on the Property and whether the same is capped or currently in use. (6) Bring-down Certificate. A Bring-Down Certificate, stating that .the representations and warranties are true and correct as of the Closing Date. (7) Other Documents. All other documents reasonably determined by BUYER to be necessary to transfer the Property to BUYER free and clear 2 -25-