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Agenda - Council - 09/08/2026
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Agenda - Council - 09/08/2026
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9/8/2026 12:31:23 PM
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Meetings
Meeting Document Type
Agenda
Meeting Type
Council
Document Date
09/08/2026
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24. No Waivers. The waiver by either party hereto of any condition or the breach of any <br />term, covenant or condition herein contained shall not be deemed to be a waiver of any other <br />condition or of any subsequent breach of the same or of any other term, covenant or condition <br />herein contained. <br />25. Governing Law. This Agreement shall be governed by the laws of the State of <br />Minnesota. <br />26. Counterparts. This Agreement may be executed in one or more counterparts, each <br />of which shall for all purposes be deemed to be an original and all of which shall together <br />constitute one and the same instrument. A signature on a copy of this Agreement transmitted by <br />facsimile, electronic signature or .pdf file shall be deemed to have the same force and effect as an <br />original signature. <br />27. 1031 Exchange. Buyer and Seller reserve the option to exchange, for other <br />property of like kind and qualifying use within the meaning of Section 1031 of the Internal <br />Revenue Code of 1986, as amended, and Regulations promulgated thereunder, fee title in the <br />Property which is the subject of this Agreement. Buyer and Seller expressly reserve the right to <br />assign its rights, but not its obligations hereunder to a Qualified Intermediary provided in IRC <br />Reg. 1.1031(k)-1(g)(4) on or before the Closing Date. <br />28. Further Assurances. Subject to the terms and conditions herein provided, each of <br />Seller and the Buyer agree to use all reasonable efforts to take, or cause to be taken, all actions, <br />and to do, or cause to be done, all things necessary, proper or advisable to consummate and make <br />effective as promptly as practicable the transactions contemplated by this Agreement. From the <br />Effective Date through the Closing Date, Seller and its members, representatives and agents <br />agree that the Property will not be marketed for sale and that they will not, directly or indirectly, <br />initiate, solicit, negotiate, accept or discuss with any third party, any inquiry, proposal or offer <br />relating to the Property. <br />[signatures on following page] <br />14 <br />
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