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8.6 <br /> <br />8.7 <br /> <br />8.8 <br /> <br />Storage Tanks. To Seller',,~ kn°wledge, no above ground or underground tanks, <br />are located in or about the Property, or have been located under, in or about the <br />Property and hm?e subseqtrently'.been removed or filled. <br /> <br />Reports. Seller has delivered to Buyer copies of all environmental reports and <br />studies relating to the ProPerty Which are in the possession of Seller. <br /> <br />Sewage, Treatme,nt SystemlDiSclosure. For the purposes of satisfying any <br />applicable requirements of!Minn. .Stat. §115.55, Seller discloses and certifies that: <br /> <br />a) No sewage is generated on the Property. <br /> <br /> b) Seller haSno knowledge of the existence of an abandoned individual <br />sewage treatment system on the Property. ~ <br /> <br /> If after exercise ofthis Option, Buyer shall determine that any representations <br />herein made by Seller is or was not true when made, or no longer remains true, Buyer shall have <br />the right, in addition m all other remedies, it° terminate this Option by notice to Seller. Wherever <br />herein a representationis made "t© Seller's knowledge", such representation is limited to the <br />actual knowledge of Bruce NedOgaard and John Feges. Except as herein expressly stated, Buyer <br />is purchasing the ?roporty based!upon its Own investigation and inquiry and is not relying on any <br />representation of Seller or other person and is agreeing to accept and purchase the Property "as <br />is, where is" subject to the condifionslof examination herein set forth and the express warranties <br />herein contained. Consummation of this Agreement by Buyer with knowledge of any such <br />breach by Seller will constitute a waiver or~ release by Buyer of any claims due to such breach. <br /> <br /> 9. Representa. tionS and,Warranties by Buyer. Buyer represents and wm,'ants <br />to Seller that Buyer is a charter c|ty duly o~ganized under the laws of the State of Mimaesota; that <br />Buyer has the requisite power and authority t© enter into this Agreement and the Buyer's Closing <br />Documents signed by ii;; such doCumOnts have been duly authorized by all necessary action on <br />the part of Buyer and have been duly exectlted and delivered; that the execution, delivery and <br />performance by Buyer Of such dOCuments do not conflict with or result in violation of Buyer's <br />charter or ordinances or any judgment, order or decree of any court or arbiter to which Buyer is a <br />party; such documents are valid and b!nding obligations of Buyer, and are enforceable in <br />accordance with their terms. Coi~summatiO~n of this Agreement by Seller with knowledge of any <br />such breach by Buyer will constitute a waiver Or.release by Seller of any claims due to such <br />breach. <br /> <br /> 10. Condemnation.: If, after the exercise of this Option but prior to the <br />Closing, eminent domain proceedings are commenced against all or any part of the Property, <br />Seller shall immediately give notice to Buyer of such fact and at Buyer's option (to be exercised <br />within thirty days after Seller's notice), thisi Agreement shall terminate, in which event neither <br />party wi 11 have further obligations under this Agreement. If Buyer shall fail to give such notice <br />then there shall be no reduction in the Purchase Price, and Seller shall assign to Buyer at the <br />Closing all of Seller's right, title and interest inand to any award made or to be made in the <br />condemnation proceedings. Prior to the Closing, Seller shall not designate counsel, appear in, or <br /> <br />7 <br /> <br /> <br />