Agenda - Council - 10/25/2005 - Laserfiche WebLink

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There are no managemen't, maintenance, supply, utility or service contracts or commitments relating to the Property which will extend beyond the date of closing, which are not cancelabte without penalty or premium upon not more than 30 days advance notice. !o the best of SELLER's knowledge: there is no action, litigation, investigation, condemnation or proceeding of any kind pending against SELLER or the Property which could adversely affect the Property, any portion thereof or title thereto. No notice of hearing has been received from any governmental assessing authority, concerning a new public improvement project the costs of which project may be assessed against the Property. Ail services or 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 materialsmen's liens) can be asserted against the Property. All water, sewer 'and refuse bins for such services 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 therefor can be asserted against the Property. SELLER is not in default, nor has there occurred any event which, with the passage of time or notice from a third party, or both, would constitute a default under any underlying financing or covenant affecting the Property or any part thereof. SELLER is neither a "foreign person" nor a "foreign corporation" (as those terms are defined in Section 1445 of the Internal Revenue Code of 1986, as amended). That there are not now, nor have there ever been underground or above ground storage tanks of any size or type located on the Property nor any Hazardous Substances (defined below) located on the Property in violation of applicable governmental requirements, and the Property has not been used in connection with the generation, disposal, storage, treatment or transportation of Hazardous Substances in violation of applicable governmental requirements. For purposes of this Agreement, the term "Hazardous Substances" includes but is not limited to substances defined as "hazardous substances," "toxic substances," "hazardous wastes," "pollutants" or "contaminants" under federal or Minnesota law. The term "Hazardous Substance" shall also include asbestos, polychlorinated biphenyls, petroleum, including crude oil or any fraction thereof, petroleum products, hearing oil, natural gas, natural gas liquids, liquefied natural gas, or synthetic gas useable for fuel (or mixtures of natural gas and synthetic gas). There are water wells on the Property. Attached is. SELLER's Minnesota Department of Health Well Disclosure Statement. 4 -314-