Agenda - Council - 09/28/2004 - Laserfiche WebLink

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written notice to SELLER prior to the expiration of the Review Period. BUYER'S preserving this Agreement in effect shall be deemed an approval of the Property, and BUYER waives any right to object further to any of the foregoing. BUYER shall hold any and all materials and information in confidence, subject to the State of Minnesota's data privacy laws as applied to BUYER, a Minnesota Municipal Corporation and BUYER shall indemnify, protect, defend and hold SELLER harmless fi'om and against any and all loss, cost, claim, liability or expense arising out of any inspection or contact made pursuant to this Agreement or otherwise. In the event the transaction does not close for any reason, BUYER shall restore the areas of the Property unreasonably disturbed by its Review, to substantially the same condition as existed prior to the BUYER'S entry on thc Property. BUYER shall deliver to SELLER, at no cost to SELLER, copies of all surveys, reports, attdits or similar information obtained during the Review Period. $. REAL ESTATE TAXES AND SPECIAL ASSESSMENTS. Real estate taxes and assessments shall be payable as follows: Real estate taxes due and payable in and for the year of closing shall be prorated between SELLER and BUYER to the actual Date of Closing. BUYER shall assume on the Date of Closing, all special assessments levied as of the date of this Agreement. BUYER shall assume on the Date of Closing, special assessments pending as of the date of this Agreement for improvements that have been ordered by the City Council or other governmental assessing authorities. SELLER shall pay on the Date of Closing, any deferred real estate taxes or special assessments payment of which is required as a result of the closing of this sale. 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. SELl, ER makes no representation concerning the amount of future real estate taxes or of future special assessments. 9. 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 will 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.