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11. RELEASE. By accepting the deed to the Property, Buyer, for itself, its directors, <br />officers, stockholders, divisions, agents, affiliates, subsidiaries, predecessors, successors, <br />and assigns and anyone acting on its behalf or their behalf hereby fully releases and <br />forever discharges Seller from any and all Claims (including without limitation all Claims <br />arising under any Environmental Law and all Claims arising at common law, in equity or <br />under a federal, state or local statute, rule or regulation), past, present and future, known <br />and unknown, existing and contingent, arising out of, resulting from, or relating to the <br />condition of the Property, and Buyer hereby waives any and all causes of action <br />(including without limitation any right of contribution) Buyer had, has or may have <br />against Seller and anyone acting on its behalf with respect to the condition of the <br />Property, whether arising at common law, in equity or under a federal, state or local <br />statute, rule or regulation. The foregoing shall apply to any condition of the Property, <br />known or unknown, contemplated or uncontemplated, suspected or unsuspected, <br />including without limitation the presence of any Hazardous Substance on the Property, <br />whether such Hazardous Substance is located on or under the Property, or has migrated <br />from or to the Property. <br />12. NOTICES. Notices permitted or required by this Agreement must be in writing and <br />shall be deemed given when delivered in legible form to the party to whom addressed. <br />Notices may be sent by certified mail or e-mail. Notices are effective two business days <br />after they are mailed via certified mail, return receipt requested or, if sent by email, upon <br />email transmission (provided that any email transmission that occurs after 5:00 pm <br />Pacific Time will be deemed provided on the following day). If delivered at the Closing, <br />a notice shall be deemed given when hand -delivered to the party's representative at the <br />Closing. The business addresses of the parties are as follows: <br />Seller: <br />Buyer: <br />City Administrator <br />City of Ramsey <br />7550 Sunwood Drive N.W. <br />Ramsey, MN 55303 <br />Email: pbrama@cityoframsey.com <br />CAP Acquisitions, LLC <br />Scott Morris <br />120 West Cataldo Ave., Suite 100 <br />Spokane, WA 99201 <br />Email: scottm@inlandconstruction.com <br />Notices not given in the manner or within the time limits set forth in this Agreement are <br />of no effect and may be disregarded by the party to whom they are directed. <br />13. CLOSING. This transaction shall close within 30 days after Buyer delivers a Notice to <br />Proceed to Seller or on such earlier date as Seller and Buyer may establish by mutual, <br />written agreement; provided, however, Buyer may extend the Closing a total of two (2) <br />Page 6 of 16 <br />