Agenda - Council - 12/09/2025 - Laserfiche WebLink

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Authentisign ID: 9E3CC3C7-60D0-F011-8195-000D3A1E5303 83. Property located at 6745 & 6701 Highway 10 NW ADDENDUM TO COMMERCIAL PURCHASE AGREEMENT: DUE DILIGENCE 82. Page 3 84. C. OTHER CONTINGENCIES: This Purchase Agreement is contingent upon Buyer's reasonable approval of the 85. following items, if checked. Buyer shall approve the items within 3 days of either: 86. (a) Final Acceptance Date of this Purchase Agreement if Buyer is obligated to obtain the item; or 87. (b) receipt of the item if Seller is obligated to obtain the item. 88. (Select appropriate options i-vi.) 89. ❑ (i) ❑ BUYER ❑ SELLER obtaining a certificate of survey of the Property, at ❑ BUYER ❑ SELLER (Check one.) (Checkone.) 90. expense. 91. ❑ (ii) ❑ BUYER ❑ SELLER obtaining soil tests which indicate that the Property may be improved without (Check one.) 92. extraordinary building methods or costs, at ❑ BUYER ❑ SELLER expense. (Check one.) 93. ❑X (iii) ❑ BUYER gSELLER obtaining copies of all covenants, reservations and restrictions affecting the Property, (Check one.) 94. at ❑ BUYER M SELLER expense. (Check one.) 95. ❑ (iv) ❑ BUYER ❑SELLER obtaining and approving copies of Association documents at BUYER ❑ SELLER (Check one.) (Checkone.) 96. expense. 97. ❑X (v) Buyer obtaining from Seller copies of all documents in Seller's possession or control relating to the rights 98. of tenants, including but not limited to, rent rolls, leases, common area maintenance fees, and estoppel 99. certificates. 100. Seller assigns all right, title, and interest in and to the tenant security deposits and the interest earned, if 101. any, and credited thereon (collectively, the Security Deposits) for the Property at closing. Seller warrants 102. that the Security Deposits being assigned are all of the Security Deposits being held for tenants at the 103. Property. Seller shall, immediately after closing, notify tenant of the Security Deposit transfer and of Buyer's 104. name and address as required under MN Statute 504B.178, Subd. 5. Buyer agrees to hold and apply all 105. of the Security Deposits in accordance with the terms of the leases of the Property pursuant to MN Statute 106. 504B.178 and indemnify and agree to hold and defend Seller, its legal representatives, successors and 107. assigns harmless from and against any and all claims, actions, suits, proceedings, demands, assessments, 108. judgments, liabilities and costs including, without limitation, reasonable attorney's fees and expenses of 109. any kind whatsoever, arising from and after the date of closing asserted by said tenants or any person 110. or persons claiming under any of them with respect to any of the Security Deposits. 111. ❑1C (vi) Buyer obtaining from Seller copies of all permits applicable to the Property, operating statements for the 112. last 2 years, vendor contracts, and any other documents in Seller's possession or 113. control and relating to the Property. 114. Buyer acknowledges that Seller makes no representations or warranties by providing any documents to 115. Buyer. Buyer agrees to return all such documents to Seller upon Seller's written request. MN-ACPA:DD-3 (8/25) IV Minnesota CCO Realtors°