Agenda - Council - 03/22/2005 - Laserfiche WebLink

Home

e. BUYER sl~gll paY.r~al .'eState taxes due and payable in the year following closing and ihereafte~' and any unpaid special assessments payable therewith and thereafter, the pa~ent iofwhich is not otherwise provided for herein. SELLER makes no representation ConcernA'i~g the amount of future real' estate taxes or of future special assessments. !! ~ ' '~ 10. DAMAGES TO REAL pRoPERTy. If the Property is substantially damaged prior to closing, this Agreemen~- ,. shall terminat~ and any Earnest Money shall be refunded to BUYER. If the Property is da,maged materially but less than substantially prior to closing, BUYER, not later than 15 days fr~m the:date of ~¢ch damage, may declare this Agreement null and void and upon said declaration S~ELLER shall immediately refund BUYER'S Eamest Money in full. ~ ~ 1 I. SELLER'S REpResENTATIONs AND WARRANTIES. As an essential part of this Agreement and in Order to ia, Cute !B~Ri t:o enter into this Agreement and to purchase the Property, SELLER represents and warrantsito arfdI agrees with BUYER that: a. SELLER is an individual.lresident 'of the State of Minnesota and a U.S. do citizen. There are ~O lea~es, ipUrch~e options, rights of first refusal, or any other agreements iwhiCh grant.a~y other party any right of use of occupancy in effect with r.¢speCt 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 ail liens, isecuriiy interests, leases, restrictions, charges and encumbranC%, Other :thani described or attached hereto as Permitted EncumbranCes.. There are no'management, imaintenance, supply, utility or service contracts or commitments relating to the Property which will extend beyond the date of clOsing, which are-not Canc~lable without penalty or premium upon not more than 30 days adVance hOtice! To the best of sELLER'S knowledge: there is no action, litigation, investigationi condemnatiOfl or proceeding of any kind pending against SELLER o~ the Property Which could adversely affect the Property, any portion thereof or title: ther~t°. No notice Of hearing~ has :been received from any governmental assessing authority, cOncerning~.a ne~ public improvement project the costs of which project may ,be assessed against the Property. All services i°r material which have been furnished to the ProPerty have been fully paid fOr or Will be fully paid for prior to the date of closing so that no lien for services 'or materials rendered (commonly known as mechanic's or 3