Agenda - Council - 01/13/2015 - Laserfiche WebLink

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follows: at the end of each month that extends past the original Closing Date of May 1, 2015, 25% of the initial Earnest Money will be released to the Seller; for a maximum of four total months. Any Earnest Money released will be deducted from the purchase price of this real property. In the event this property does not close, the Earnest Money released due to a Closing Date Extension will be forfeited and become property of the Seller 3. . The obligations of Buyer under this Agreement are subject to and contingent upon each of the following contingencies: a. Title . Title shall have been found acceptable, or be made acceptable, in accordance with the requirements and terms of Sections 6 (a) and 7 (a) of this Agreement. At Closing, Seller shall convey a warranty deed conveying fee title to the Property in the condition required by this Agreement and the Title Company shall provide Buyer title insurance for the Property in the condition required by this Agreement. b. Soil Tests . Buyer shall have determined, on or before the closing date set forth below, that Buyer is satisfied with the results of and matters disclosed by such soil and geotechnical tests of the Property as Buyer may deem necessary, all such tests to be obtained at Buyer's sole cost and expense. Within ten (10) business days after the date of this Agreement, Seller shall deliver to Buyer all soil tests and other inspections, reviews and reports, if any, pertaining to the Property that are in Seller's possession or control or have been previously prepared on Seller's behalf. c. Utilities . On or before closing the Seller shall deliver to Buyer all documents, if ation and/or capacity of utilities available to the Property. On or before the closing date , storm sewer and other utilities are available at the boundary of the Property. If one or more utility services are not available at the boundary of the Property, Seller covenants to extend such service, at its expense, to the boundary of the Property prior to Closing. d. Environmental Assessment . On or before closing the Seller shall deliver to Buyer all environmental assessments, if any, pertaining to the Real Property that iously prepared on Sel behalf. e. Permitted Use . On or before closing date, Buyer shall have determined that Buyer's Intended Use of the Property for multi-family housing which incorporates the use pitched roofs and detached garages, senior care facilities, hotel/motel facilities, office and retail space and parking facilities ("Buyer's Intended Use") is a permitted use under the Zoning, Subdivision and Land Use Regulations of the City of Ramsey and of Anoka County without the necessity of obtaining a variance or rezoning.