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I 9. <br />I <br />I <br />I <br /> <br /> I <br /> <br />I$ <br />:1 <br /> <br />I <br /> <br />! <br />I <br />I <br />I <br />i <br />I <br /> <br />BUYER'S CLOSING DOCL~IENTS. On the Closing Date, BUYER will execute, anclJor <br />deliver to SELLER the fbllowing (collectively, "BUYER'S Closing Documents"): <br /> <br />(a) <br /> <br />Purchase Price. The BUYER'S check in the amount of $30,000.00 less any closing <br />expenses paid by BUYER which are agreed upon as SELLER'S closing expenses. Said <br />$30,000.00 to be disbursed pursuant to the terms of Section 2 herein. <br /> <br />Title Documents. Such affidavits of Purchase, Certificates of Value or other documents <br />as may be reasonably required in order to record the SELLER'S Closing Documents and <br />Issue the Title insurance Policy required by this Agreement. <br /> <br />CLOSING. The closing of the transaction contemplated by this Agreement shall occur at the <br />place determined by SELLER and BUYER. The "Closing" or "Closing Date" shall occur ten <br />(10) business days after the date when BUYER shall give notice to SELLER that the <br />contingencies which are to have been satisEed on the Contingency Date, which is November <br />2001, have been waived or satisfied; provided that in 'no event shall the Closing Date be after <br />December 15,200 l, provided all the conditions contained herein have been satisfied. <br /> <br />POSSESSIObI. SELLER shall deliver possession of the Road/Utility Parcels to BUYER as of <br />the Closing Date. <br /> <br />DEFAULT AND TERMINATION. <br /> <br />(a) <br /> <br />Lq the event of a default by BUYER or SELLER under the terms of this Agreement, the <br />non-defaulting party's only right shall be to terminate this Agreement and the defaulting <br />party, shall have no other right to pursue any other remedy at law or in equity. <br /> <br />(b) <br /> <br />In the event closing of' the transaction contemplated by this Agreement does not occur by <br />December [ 5, 2000, this Agreement may be terminated by either BUYER or SELLER, <br />provided that a party which is in default of its obligations, representations or warranties <br />shall not be entitled to terminate this Agreement pursuant.to this Section 15(b). <br /> <br />NOTICES. All notices and demands under or with respect to this Agreement shall be in writing <br />and delivered personally or be registered or certified mail, return receipt requested, and postage <br />prepaid: <br /> <br />(a) BUYER: <br /> <br />James E. Norman <br />City Administrator <br />City of 'Ramsey <br />15 153 Nowthen Boulevard <br />Ramsey, Nfinnesota 55303 <br /> <br />(b) SELLER: <br /> <br />RAMSEY PROFESSIONAL BUILDING, FNC. <br />c/o David Olson <br />6957 West Highway 10 <br />Ramsey, Minnesota 55303 <br /> <br />-203- <br /> <br /> <br />