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Agenda - Council - 11/09/2004
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Agenda - Council - 11/09/2004
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3/24/2025 2:34:07 PM
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11/5/2004 2:20:19 PM
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Meetings
Meeting Document Type
Agenda
Meeting Type
Council
Document Date
11/09/2004
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(2) If SELLER breaches a warranty or representation either before or <br />after Closing, BUYER shall have the right to recover direct damages reasonably <br />related to such breach but not incidental or consequential damages or punitive <br />damages. BUYER shall have no right to seek rescission of the conveyance. <br />17. NOTICES. All notices required herein shall be in writing and delivered <br />personally or mailed to the address as shown above and, if mailed, are effective as of the date <br />of mailing. <br />18. POSSESSION AND REMOVAL OF PERSONAL PROPERTY AND <br />DEBRIS. Possession of the Property shall be delivered to the BUYER on the Closing Date, <br />reserving however to the SELLER a right of continued occupancy and use of the Property for <br />a period not exceeding sixty (60) days following the Closing Date for the purpose of winding <br />up the current business operated from the Property. No rental shall be charged for this post - <br />Closing continued occupancy by the SELLER, however SELLER shall name BUYER as an <br />additional insured on SELLER's public liability insurance policy and as a loss payee on <br />SELLER's hazard/casualty insurance policy. In addition to, and in consideration of the <br />continued possession subsequent to Closing Date, SELLER agrees: <br />a. To pay all utility charges for services provided to the Property and its <br />improvements during the period of occupancy. <br />b. To remove all debris, personal property, and business inventory <br />currently located on the Property no later than the date SELLER's right to continued <br />possession expires. <br />19. BROKERS. Each party represents that they are not obligated to any real estate <br />or business broker as a result of this transaction. Each party hereby indemnifies the other for <br />any broker's or agent's fees. <br />20. MINNESOTA LAW. This Agreement shall be governed by the laws of the <br />State of Minnesota. <br />21. MISCELLANEOUS. <br />a. TIME IS OF THE ESSENCE FOR ALL PROVISIONS OF THIS <br />AGREEMENT. <br />22. ADDITIONAL TERMS. <br />a. If any part of this agreement or any part or any provision thereof shall be <br />adjudicated to be void or invalid, then the remaining provisions hereof not specifically <br />so adjudicated to be invalid shall be executed without reference to the part or portion so <br />adjudicated, insofar as such remaining provisions are capable of execution. <br />E:3 <br />
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