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06/26/12
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06/26/12
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7/18/2025 11:15:47 AM
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Meetings
Meeting Document Type
Agenda
Document Title
Housing & Redevelopment Authority
Document Date
06/26/2012
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J <br />documents including, but not limited to, the City's right to exercise the <br />remedies set forth in Section 15 of the Master Development Agreement. <br />(ii) execute and deliver to Buyer and Buyer's title insurer, if any, a <br />Minnesota Uniform Conveyancing Form 50.1.3 Affidavit Regarding Business <br />Entity; <br />(iii) deliver to Buyer appropriate corporate resolutions authorizing <br />Seller's conveyance of the Property to Buyer and identifying the individual(s) <br />authorized to execute the quit claim deed and any other documents required <br />hereunder; <br />(iv) execute and deliver to Buyer a non -foreign affidavit in recordable <br />form containing such information as is required under IRC Section 1445(b)(2) <br />and any regulations relating thereto; <br />(v) execute and deliver to the closing agent, with a copy to Buyer, a <br />completed Minnesota Department of Health Well Disclosure Certificate or <br />include on the quit claim deed the statement "The Seller certifies that the Seller <br />does not know of any wells on the described real property" or the statement "I am <br />familiar with the property described in this instrument and I certify that the status <br />and number of wells on the described real property have not changed since the <br />last previously filed well disclosure certificate" followed by Seller's signature; <br />(vi) execute and deliver to the closing agent, with copies to Buyer, and <br />make arrangements to have the closing agent record or file in the appropriate <br />county land records, the affidavits described in Minnesota Statutes, §116.48, <br />Subd. 6 and §115B.16, Subd. 2, if required; <br />J(vii) deliver to Buyer the Date Down Certificate described in Section 9; <br />(viii) execute and deliver a Settlement Statement in form to be prepared <br />by the Title Company; <br />(ix) provide the Title Company with all information necessary to allow <br />the Title Company to prepare a Certificate of Real Estate Value; and <br />(x) pay or provide evidence of payment of the following: the cost of <br />providing the Title Commitment; the State Deed Tax due upon the execution of <br />the quit claim deed; delinquent real estate taxes due and payable with respect to <br />the Property; the penalties and interest due thereon and a pro rata share of the real <br />estate taxes due and payable with respect to the Property in the year in which <br />Closing occurs, as set forth in Section 8; the commission or fee due any real estate <br />agent that Seller has employed in connection with this transaction; and one-half of <br />Title's fee to conduct and insure the closing of this transaction. <br />2303766v8 <br />4. <br />
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