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I <br />! <br />I <br /> <br /> I <br /> I <br /> I <br /> I <br /> I <br /> I <br /> I <br /> I <br /> I <br /> <br /> I <br />,I <br /> <br /> I <br /> I <br /> <br />Feb-19-99 02:11P <br /> <br />P.09 <br /> <br /> 7. CLOSING. <br /> <br /> 7.1 The closing shall take place at the Rmnsey Municipal Center, 15153 <br />Nowthcn Boulevard, Ramsey, Minnesota 55303, fifteen days after the CITY OF RAMSEY has <br />granted fi~ml approval ro BUYER for the Development, or at such other time and place that may <br />be agreed to by the parties in writing ("Closing Date"): <br /> <br /> 7.2 On the Closing Date, BUYER shall deliver to SELLER the balance of the <br />Purchase Price and SELLER shall deliver to BUYER possession of the Property and shall execute <br />and/or deliver to BUYER: <br /> <br /> a. An executed Minnesota Uniform Conveyancing Blank, Form No. <br /> 9-M Warranty Deed. <br /> <br /> b. An executed affidavit of SELLER. <br /> <br /> '7.3 SELLER shall pay at closing all recording fees and charges relating to thc <br />filing of any instmmem required to make title marketable. <br /> <br /> 7.4 BUYER shall pay at closing: (a) state deed tax relating to transfer of the <br />Property: (b) conservation fee; (c) recording fees relating to the filing of the deed from SELLER; <br />and (d) title insurance premiums, it' any, and tide company closing fee, if any. <br /> <br /> 8. POSSESSION. BUYER shall take possession of the Property after the conclusion <br />of the Closing. <br /> <br /> 9. DAMAG.ES TO REAL PROPERTY. rt' the Property is substm~tially damaged <br /> <br />prior to closing, BUYER may at its sole option rescind this Agreement by notice to SELLER <br />within ten (10) days after SELLER notifies BUYER of the damage, during which ten day period <br /> <br />8 <br /> <br /> <br />