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and unknown, existing and contingent, arising out of, resulting from, or relating to the <br /> condition of the Property, and Buyer hereby waives any and all causes of action <br /> (including without limitation any right of contribution) Buyer had, has or may have <br /> against Seller and anyone acting on its behalf with respect to the condition of the <br /> Property, whether arising at common law, in equity or under a federal, state or local <br /> statute, rule or regulation. The foregoing shall apply to any condition of the Property, <br /> known or unknown, contemplated or uncontemplated, suspected or unsuspected, <br /> including without limitation the presence of any Hazardous Substance on the Property, <br /> whether such Hazardous Substance is located on or under the Property, or has migrated <br /> from or to the Property. <br /> 12. NOTICES. Notices permitted or required by this Agreement must be in writing and <br /> shall be deemed given when delivered in legible form to the party to whom addressed. <br /> Notices may be sent by certified mail or e-mail. Notices are effective two business days <br /> after they are mailed via certified mail, return receipt requested or, if sent by email, upon <br /> email transmission (provided that any email transmission that occurs after 5:00 pm <br /> Central Time will be deemed provided on the following day). If delivered at the Closing, <br /> a notice shall be deemed given when hand-delivered to the party's representative at the <br /> Closing. The business addresses of the parties are as follows: <br /> Seller: City Administrator <br /> City of Ramsey <br /> 7550 Sunwood Drive N.W. <br /> Ramsey, MN 55303 <br /> Email: kulrichgcityoframsey.com <br /> Buyer: Garage RE LLC & or Assigns. <br /> Tim Eaton <br /> 15 706 Highland Heights Drive <br /> Minnetonka, MN 55345 <br /> Email: tim.eaton@garageholdingsllc.com <br /> Notices not given in the manner or within the time limits set forth in this Agreement are of <br /> no effect and may be disregarded by the party to whom they are directed. <br /> 13. CLOSING. This transaction shall close within 30 days after Buyer delivers a Notice to <br /> Proceed to Seller or on such earlier date as Seller and Buyer may establish by mutual, <br /> written agreement; provided, however, Buyer may extend the Closing a total of two (2) <br /> times, each time for a period of Thirty(30) days, by depositing an additional Five <br /> Thousand and 00/100 Dollars ($5,000.00) earnest money with Escrow Agent for each <br /> extension. Each $5,000 extension payment shall be non-refundable, but applicable to the <br /> Purchase Price. The Closing shall take place at the offices of the Escrow Agent, or at <br /> some other place as the parties may mutually agree prior to such date. At the option of <br /> either Party, the executed closing documents, Purchase Price and closing costs may be <br /> deposited with the Escrow Agent and disbursed by the Escrow Agent pursuant to avoid <br /> Page 6of13 <br />