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b. Statutory Disclosures. As required by statute, Seller hereby represents to <br />Buyer that, to the best of Seller's actual knowledge, : <br />There are no wells located on the Land. <br />ii There are no underground or above ground storage tanks of any <br />size or type located on the Land. <br />iii Sewage is not currently generated at the Property, and there are no <br />abandoned individual sewage treatment systems located on the <br />Land. <br />iv Methamphetamine production has not occurred on the Land. <br />c. Covenants of Seller and the City. <br />From and after the Effective Date, Seller will not perform any <br />grading or excavation on the Land, will not construct, remove or <br />modify any improvements or landscaping on the Land, without <br />Buyer's consent which consent Buyer may not unreasonable <br />withhold, condition or delay. <br />ii On or before the Date of Closing Seller will pay, in full, any <br />persons who provide lien labor or materials towards the <br />improvement of the Land at the request of Seller. <br />iii On or before June 30, 2012, the City must substantially complete <br />the construction of the approximately 200 stall addition (the <br />"Parking Ramp Addition") to the existing municipal parking ramp <br />that is located on Lot 1, Block, 1, RAMSEY TOWN CENTER 5TH <br />ADDITION, Anoka County Minnesota (the "Existing Parking <br />Ramp") that is described on the attached Exhibit A and complete <br />the construction of the improvements to the Parking Ramp and the <br />installation the equipment, described on Exhibit B (the "F & C <br />Parking Improvements") . If the City's completion of construction <br />of the Parking Ramp Addition or the completion of the <br />construction or installation of the F & C Parking Improvements, is <br />delayed as a result of an Unavoidable Delay, as defined in the <br />Development Agreement, the City gives the Buyer notice of the <br />Unavoidable Delay within thirty (30) days after the onset of the <br />Unavoidable Delay and the City uses all commercially reasonable <br />efforts to complete the construction of the Parking Ramp Addition <br />and the construction and installation of the F & C Parking <br />Improvements, as promptly as reasonably possible given the <br />conditions causing the Unavoidable Delay, the completion date for <br />the Parking Ramp Addition and the F & C Parking Improvements <br />will be extend for a period of time equal to the duration of the <br />condition causing the Unavoidable Delay plus a reasonable time <br />-8- <br />2707737v5 <br />11/18/10 <br />