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iii execute and deliver to Buyer and Title a Minnesota Uniform Conveyancing Blank Affidavit Regarding Business Entity evidencing the absence of bankruptcies, judgments, tax liens or corporate dissolution proceedings involving parties with the same or similar names as the Seller; and evidencing the absence of mechanic's liens and the absence of known unrecorded interests, encroachments or boundary line questions affecting the Land; iv execute and deliver to Buyer a non -foreign affidavit in recordable form containing such information as is required under IRS Section 1445(b)(2) and any regulations relating thereto; v execute and deliver to the closing agent, Buyer or other appropriate party appropriate Federal Income Tax Reporting Forms; and vi pay or provide evidence of payment of the following: the State Deed Tax due upon the execution of the Limited Warranty Deed; the cost of the Title Commitment, as defined in Section 12(a), and the Survey, as defined in Section 12(b); real estate taxes and levied special assessments, if any, pursuant to the provisions of Section 10 below; the cost of recording the Declaration of Public Roadway Easement and the Amended PUMA; and one-half of any reasonable and customary closing fees Title charges to conduct closing of this transaction. c. Buyer shall: i Direct Title to disburse the Earnest Money to Seller and shall tender the balance of the Purchase Price to Seller in wire transferred funds; ii Provide Buyer with evidence that the City has approved Buyer's "Construction Plans" pursuant to Section 5.3 of the Development Agreement; and iii Pay or provide evidence of payment of the following: real estate taxes, if any, pursuant to the provisions of Section 10; the cost of recording the Limited Warranty Deed from Seller to Buyer; all premiums and other charges for any title insurance policies Buyer purchases for itself and its lender; all costs associated with Buyer's financing; and one-half of any reasonable and customary closing fees Title charges to conduct the closing of this transaction. 10. Real Estate Taxes. Special Assessments and Owners Association Assessments. a. Real Estate Taxes. On or before the Date of Closing, Seller must pay the real estate taxes, if any, due and payable with respect to the Property in years prior to the -5- 2707737v11 09/27/11