Agenda - Council - 11/13/2001 - Laserfiche WebLink

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7. -202- may, at is option, (a) declare this Ag-reement void by sending written notice thereof to SELLER whereupon the parties hereto shall no further obligation to one another or (b) waive the objection and proceed to Closing. T:x~XES :&ND ASSESSN[ENTS. The real estate taxes due and payable in the year in wi'rich the Closing occurs and ali penalties and interest shall be paid by SELLER. AI.i special assessments, levied, deferred or pending as of the Date of the Closing against the Ramsey Parcel shall be assumed by SELLER. ADDITIONAL IN'FORMATION. Within ten (10) days 'cbllowing execution of this A=o-reement, SELLER shall provide BUYER with copies of all surveys, environmental tests and reports, soil and/or engineering tests and reports, title abstracts, and title insurance commitments, binders or policies which are in SELLER'S or SELLER'S agent's possession, and with such other knowtedge and inlbrmation in SELLER'S possession concerning the Ramsey Parcel which BUWER may reasonably request. SELLER'S CLOSING DOCI_~IENTS. On the Closing Date, SELLER shall execute and/or deliver to BUWER the tbllowing (collectively, "SELLER'S Closing Documents"): Deed. A Wa.rranty Deed, in form reasonable and satisfactory to BUWER, conveying the Road/Utility Parcels to BU%'ER, free and clear of all encumbrances except as permitted under Section 5. above. SELLER'S Afiqdavit. An ,Affidavit of Title by SELLER indicating that on the Closing Date there are no outstanding, unsatisfied .jud=mTqent. s, tax liens, or bankruptcies against or involving SELLER or the Rarnsey Parcel; that th. ere has been no skill, labor or material fi.~dshed to the Rarnsey Parcel for which payment has not been made or for which mechanic's liens could be filed; and that there are no other unrecorded interests in the Ramsey Parcel together with whatever standard owner's 'affidavit and/or indemnity ('ALTA Form) which may be required by Tide Company to issue an Owner's Policy of Title Insurance with the standard exceptions waived. '(c) FIRTPA Affidavit. A non foreign affidavit, properly executed and in recordabte form, containing such information as is required by IRC Section 1445 (b)(2) and irs regulations. IRS Reporting. The appropriate Federal Income Tm'< reporting form, if any is required, together with a Closing Designation Agreement identifying the party responsible for any reporting to the IRS. Well Certificate. ,An executed certification as to the location of amy wells on the Rewnsey Parcel in accordance with the laws of the State of Minnesota. Other Documents. )dl other documents reasonably determined by BUYER to be rtecessau to transfer the Ramsey Parcel to BU"~TER ~kee and clear of an encumbrances. I $1 I