Agenda - Council - 07/27/2004 - Laserfiche WebLink

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JUL-02-2004 09:46 CITY OF RAMSEY ?6342?5543 BUYER shall pay real estate taxes due and payable in the year following closing and thereafter and any unpaid special assessments payable therewith and thereafter, the payment of which is not otherwise provided for herein. SELLER makes no representation concerning the mount of future real estate taxes or of future special assessments. 9. DAMAGES TO REAL PROPERTY. If the Property is substantially damaged prior to closing, this Agreement shall terminate and any Earnest Money shall be refunded to BUYER. If the Property is damaged materially but less than substantially prior to closing, BUYER, not later than t 5 days from the date of such damage, may declare this Agreement null and void and upon said declaration SELLER shall immediately refund BUYER'S Earnest Money in 10. SELLER'S REPRESENTATIONS AND WARRANTIES. As an essential part of this Agreement and in order to induce BUYER to enter into this Agreement and to purchase the Property, SELLER represents and warrants to and agrees with BUYER that: SELLER has duly and validly executed this Agreement and the consummation of the transactions contemplated thereby wilt not constitute a default under any indenture, agreement, contract, mortgage or other instrument to which SELLER is a party, and SELLER is not otherwise in contravention of any law, order, ordinance or governmental restriction or regulation by which SELLER is bound or subject. There are no leases, purchase options, rights of first refusal, or any other agreements which grant any other party any right of use of occupancy in effect with respect to the Property or any portion thereof. SELLER will convey on the date of closing, all of the Property, including all improvements, fixtures, and trade fixtures comprising the same, free and clear of all liens, security interests, leases, restrictions, charges and encumbrances, other than described or attached hereto as Permitted Encumbrances. There are no management, maintenance, supply, utility or service contracts or commitments relating to the Property which will extend beyond the date of closing, which are not caneelable without penalty or premium upon not more than 30 days advance notice. To the best of SELLER'S knowledge: there is no action, litigation, investigation, condemnation or proceeding-of any kind pending against SELLER or the Property which could adversely affect the Property, any portion thereof or title thereto.