Agenda - Council - 07/22/2014 - Laserfiche WebLink

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PURCHASE AND SALE CONTRACT G. 'Taxes. Upon three (3) calendar days prior written notice to Seller by facsimile transmission or electronic mail, Buyer shall have the right to pay all real estate taxes, charges and assessments due and payable and affecting the Property when such payment is required as part of Buyer's intended development of the Property. Buyer shall notify Seller of any payments made by Buyer and Seller shall reimburse Buyer for the amounts paid on or before Closing. For purposes of this Section 7 (H), notice to Seller's agent shall constitute sufficient notice to Seller. 8. PRO -RATIONS. All federal, state, county and municipal ad valorem real property taxes and assessments with respect to the Property shall be prorated at closing. if the amount of such taxes and assessments is not known as of closing, then the pro -ration of such taxes and assessments shall be made upon the basis of the most recent ascertainable statements, and such pro -rations shall be adjusted when such taxes and assessments are available. 9. REPRESENTATIONS AND WARRANTIES OF SELLER. Seller represents and warrants to, and covenants with, Buyer as follows: A. Seller has good and indefeasible fee simple title to the Property subject to matters of record and affecting the Property and at Closing will have and will convey to Buyer by warranty deed good and indefeasible fee simple title to the Property, free and clear of all liens, defects, encumbrances, conditions, exceptions, restrictions or other matters affecting title. Matters of record include those set forth in the Quit Claim Deed from BP Products North America, Inc. to Seller, Document No. 1977778.002, receipt of which is acknowledged by Buyer. B. Seller has not received any written notice of any current or pending litigation or tax appeals against Seller concerning this Property and, to the best of Seller's knowledge, there is no pending litigation or tax appeals against Seller or the Property; C. Seller has not entered into any contracts, subcontracts or agreements affecting the Property which will be binding upon Buyer after the Closing; D. Seller has not received any written notice from (or delivered any notice to) any governmental authority regarding any violation of any law applicable to the Property and, to the best of Seller's knowledge, there are no such violations; E. There are no occupancy rights, leases or tenancies affecting the Property; F. No person or entity has any option, right of first refusal or other right to purchase the Property or any part thereof or interest therein; G. There are no pending or, to the best of Seller's knowledge, threatened condemnation proceedings affecting the Property and Seller has not received any written notice that there is any pending or threatened condemnation of all or any part of the Property; H. The Property is the former site of a retail gasoline station and was subject to hydrocarbon contamination and subsequent rernediation as required by the Minnesota Pollution Control Agency. Seller makes no warranties as to the physical or environmental condition of the Property except as otherwise contained herein. Buyer is acquiring this Property "as is" with all faults and restrictions existing on the date of conveyance; and 1. Seller has no knowledge of any-htcu:ck... .: Solid waste placed on the property that would require rernediation or disposal. , sCll 'f,g/ fq Buyer's Initials Seller's Initials' I L! 4