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

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h. Assessments . Seller has received no notices from any governmental entity regarding assessments or planned improvements that may result in assessments to the Property. i. Governmental Notices . Seller is not in possession of any notices regarding the Property which were sent by governmental entities to Seller at any time during its ownership of the Property. j. Unrecorded Documents . There are no unrecorded leases, contracts, easements, or any other documents creating rights in parties other than Seller which cannot be terminated by Seller prior to Closing and which will continue to affect the Property after Closing. k.Condition of Property. Seller warrants that there are no present violations of any restrictions relating to the use or improvement of the Property. Seller will indemnify Buyer against and will hold Buyer harmless from, any expenses or damages, including reasonable attorneys' fees, that Buyer incurs because of the breach of any of the above representations and warranties, whether such breach is discovered before or after Closing. Each of the representations and warranties herein contained shall survive the Closing. Buyer is purchasing the Property based upon its own investigation and inquiry and, except for the representations and warranties expressly provided for herein, is not relying on any representation of Seller or other person and agrees to accept limited to the actual knowledge of employees or representative of the Ramsey Housing and Redevelopment Agency. 8Project Assistance Notification. . The Buyer has not requested any government subsidies or financial assistance programs in relation to this Purchase Agreement. Based on market conditions, Buyer may, or may not, make a request for project assistance in the future. In the event a request is made by the Buyer, this clause does not bind or obligate the Seller to provide project assistance. 9. Condemnation . If, prior to the Closing Date, eminent domain proceedings are commenced or Seller receives notice of the pendency of eminent domain proceedings against all or any part of the Property, Seller shall immediately give notice to Buyer of such fact and at Buyer's option (to be exercised within thirty (30) days after Seller's notice), this Agreement shall terminate, in which event neither party will have further obligations under this Agreement and the Earnest Money shall be refunded to Buyer. If Buyer shall fail to give such notice then there shall be no reduction in the Purchase Price, and the Seller shall assign to Buyer at the Closing Date all of Seller's right, title and interest in and to any award made or to be made in the condemnation proceedings. Prior to the Closing Date, Seller shall not designate counsel, appear in, or otherwise act with respect to the condemnation proceedings without Buyer's prior written consent. 10. Damage or Destruction . If, prior to the Date of Closing, the Property or any part thereof shall be damaged or destroyed by fire or other casualty, this Agreement shall become null 9