Agenda - Economic Development Authority - 08/10/2023

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Purchase Price owing at Closing in an amount equal to the amount of the Earnest Money. 5. DUE DILIGENCE DOCUMENTS. a. Seller has provided the Buyer a 2016 Minimum Standard Detail Requirements for ALTA/NSPS Land Title Surveys, jointly established and adopted by ALTA and NSPS, and includes Items: 1, 2, 3, 4, 5, 7a, 8, 11, and 14 of Table A thereof for the underlying legal (the "Survey") from a duly licensed surveyor dated April 10, 2017. Buyer may arrange with the surveyor to include additional information on the Survey, or obtain a new survey, at Buyer's expense. b. Within fifteen (15) business days after the date of this Agreement, Seller shall provide to Buyer the following documents to the extent the same are in Seller's possession or are reasonably available to Seller: i. Any environmental reports, studies or assessments (including soil tests or other geotechnical reports) that relate to the property and any disclosure letters and/or off site determinations from the Minnesota Pollution Control Agency in Seller's possession; ii. Any and all appraisals relating to the Property; iii. Documents or correspondence to or from the city of Ramsey, Anoka County or other governmental agencies regarding zoning of the property, compliance of the Property with applicable laws or other governmental approvals or consents; iv. Any and all such other documents, agreements, correspondence or information relating to the Property which may be reasonably requested from time to time by Buyer. 6. TITLE COMMITMENT. a. Within thirty (30) business days after the Effective Date, Seller shall, at Seller's expense, obtain a commitment from Escrow Agent to issue an owner's policy of title insurance insuring Buyer's title to the Property (the "Title Commitment") and deliver the Title Commitment and copies of or internet access to copies of all recorded documents referenced in the Title Commitment to Buyer. b. Buyer shall have until thirty (30) days after the receipt of the Title Commitment and the Survey (collectively, "Title/Survey") to review Title/Survey and to give Seller written notice of (i) any defects in the marketability of Seller title to the Property or any encumbrances on Seller's title to the Property that are objectionable to Buyer, and (ii) the specific actions Buyer requests that Seller take -2- Error! Unknown document property name.