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Title insure over (i) mortgage or deed of trust financing or similar liens given for
<br />security or collateral purposes, (ii) state, federal or local tax liens or liens for the
<br />nonpayment of special assessments, and (iii) any other judgment liens or non-
<br />consensual monetary liens (collectively, "Liens"), it being the understanding and
<br />agreement that any such Liens will be satisfied out of Seller's proceeds at closing,
<br />if not sooner paid.
<br />4. REPRESENTATIONS AND WARRANTIES. As an inducement to Buyer to enter
<br />into this Agreement, and as part of the consideration therefore, Seller represents and
<br />warrants to and covenants with Buyer that:
<br />A. Seller has Marketable Fee Simple Interest to the Premises.
<br />B. Each of the persons executing this Agreement on behalf of Seller does hereby
<br />represent and warrant that the execution and delivery of this Agreement by Seller
<br />will not constitute a default under any indenture, agreement, contract, mortgage
<br />or other instrument to which Seller is a party.
<br />C. To the best of the Seller's knowledge, there are no underground storage tanks
<br />on the Premises.
<br />D. Seller has not used the Premises for storage or disposal of hazardous substances
<br />and Seller has no actual knowledge that any other persons have so used the
<br />Premises.
<br />E. Seller has received no notice of any violation of any zoning, building, health
<br />and safety, fire safety and environmental codes and laws from the City of
<br />Ramsey, or other local authority.
<br />F. Seller has received no notice of a violation of any statutes, ordinances,
<br />regulations, judicial decrees or orders, or the pendancy of any lawsuits,
<br />administrative or arbitration hearings or governmental investigations or
<br />proceedings affecting the Premises.
<br />G. To the best of Seller's knowledge, there are no environmental proceedings,
<br />applications, petitions, resolutions, or other matters pending before any
<br />governmental agency, which would affect the Premises in any manner.
<br />H. To the best of Seller's knowledge there are no environmental proceedings,
<br />applications, petitions, court pleadings, resolutions, investigations, by public or
<br />private agencies, or other matters pending which could prohibit, impede, delay,
<br />or adversely, affect the use of the Premises.
<br />I. The Premises will, as of the date of closing, be free and clear of all liens,
<br />security interests, encumbrances, leases or other restrictions or objections to
<br />title other than the Permitted Exceptions.
<br />J. The Premises is not within a flood zone.
<br />K. Seller is not a "foreign person," "foreign partnership," "foreign trust," or
<br />"foreign estate" as defined in Section 1445 of the Internal Revenue Code.
<br />L. The sale of the Premises is not subject to any withholding requirements imposed
<br />by the Internal Revenue Code, including, without limitation, Section
<br />1445(F)(3).
<br />M. To the best of Seller's knowledge the Premises is served by municipal water
<br />and sewer.
<br />N. There are no management, maintenance or service contracts, leases, licenses,
<br />purchase agreements, purchase options, rights of first refusal, or other unrecorded
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