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10, UNDERGROUND TANKS. CITY represents to R.H. that there aze no <br />underground tanks on the City Proporty. <br />11, DEFAULT. If titlo is marketable or is corrected as provided herein, and RH, <br />defaults in any of the agreements herein, CITX may terminate this Agroement and payments made. <br />hereunder may be retained by CITX. This provision shall not deprive erther RH; or CITY of the <br />right to recover damages for a broach of this Agroement or of the right. of specific performance of <br />this. Agreement, provided this Agreement. is not temxinated, and futtlter provided, as to specific <br />performance, such action ie commenced within six months after such right of notion-arises, <br />12. TIME OF ESSENCE. Time is of the essence in this Agreement. <br />13. POSSESSION.. CITY shall deliver possession of the City Property to R.H. not latex <br />than the Closing Dnte, <br />14. NO PARK DESIGNATION. In the event the. CITY determines the City Property <br />has been dedicated to the public as pazk or a restriction of record exists limiting the use of the City <br />Property to park purposes, this Agreement shall be null and void. <br />rv. <br />GENERA <br />1. ENTIRE AGREEMENT. This Agreement, any attached exhibits and any addenda <br />or amendments signed by the parties, shall constitute the enure Agreement betwoen CITY and <br />RH., and supersedes any other written or oral agreements between CITY and R.~I., This <br />Agreement can be modified only in writing signed by CITY and RH. , <br />2,. CLOSING DATE. The Closing. Date or Closing shall be on or before March 27, <br />2006. <br />3. CITY'S CLOSING DOCUMENTS. On the Closing Date, CITY shall execute . <br />and/or deliver to RH. the following (collectively, "CITY'S Closing Documents"): <br />a. A Warranty Deed, in form reasonable and satisfactory to R.H., conveying the <br />Property to RH., free and cleaz of all encumbrances hereafter defined, and including <br />a covenant of further assurances; <br />b, An Affidavit of Seller by CITY indicating that on the Closing Date there are no <br />outstanding, unsatisfied judgments, tax liens, or bankruptcies against or involving. <br />CITY or the City Property; that there has bean no skill, labor or material furnished <br />to the Proporty for which payment has not bean made or for which mechanic's liens <br />could be filed; and that there aze no other tutrecordad interests in the City Property, <br />together with whatever standard owner's affidavit and/or indemnity (ALTA Form) <br />wl»ch may be required by Title Company to issue an Owners Policy of Title <br />_ Insurance with the standard exceptions waived; <br />c. An executed certification as to the location of any wells on the City Property in <br />accordance with the laws of the State of Minnesota; and <br />