Agenda - Economic Development Authority - 09/01/2016

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relating to the condition of the Property. The foregoing shall apply to any condition of the Property,known or unknown,contemplated or uncontemplated,suspected or unsuspected,including without limitation the presence of any Hazardous Substance on the Property,whether such Hazardous Substance is located on or under the Property,or has migrated from or to the Property,regardless of whether the foregoing condition of the Property was caused in whole or in part by the Seller's actions or inactions. 14.NOTICES. Notices permitted or required by this Agreement must be in writing and shall be deemed given when delivered in legible form to the party to whom addressed. Notices may be sent by certified mail,fax or e-mail. Notices are effective two business days after they are mailed via certified mail,return receipt requested or,if delivered in any other manner,when the party to whom the notice is directed actually receives the notice. If delivered at the Closing,a notice shall be deemed given when hand-delivered to the party's representative at the Closing.The business addresses of the parties are as follows: Seller: City Administrator ap City of Ramsey 7550 Sunwood Drive N.W. Ramsey,MN 55303 Buyer: Mr.Jeff Hagen Platinum Properties Group hic. 783 Hardin St.tNE Suite 200 Minneapolis,MN 55413 Notices not given in the manner or within the time limits set forth in this Agreement are of no effect and may be disregarded by the party to whom they are directed. 15.CLOSING. This transaction shall close on the date 10 business days after Buyer delivers a Notice of Suitability to Seller or on such earlier date as Seller and Buyer may establish by mutual,written agreement. The Closing shall take place at the offices of the Escrow Agent,or at some other place as the parties may mutually agree prior to such date. At the option of either Party,the executed closing documents,Purchase Price and closing costs may be deposited with the Escrow Agent and disbursed by the Escrow Agent pursuant to avoid the necessity for a Closing at which the Parties are present. a. Seller's Obligations at Closing. At Closing,Seller must deliver to Escrow Agent, for delivery to Buyer: i_ A warren qR4-ela�m deed,duly executed and acknowledged on behalf of the City and with the City's seal affixed,conveying title to the Property, subject to(A)the lien of real estate taxes,if any,not yet due and payable and any installments of special assessments certified for payment therewith;(B)Building,Subdivision and Zoning Ordinances;(C)Matters 7 DRAFT