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10-28-2015 Additions
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10/29/2015 7:26:54 AM
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obligations required to be performed by Seller under this Agreement, as and when <br />required by this Agreement. Included within the obligations of Seller under this <br />Agreement shall be the following: <br />(i) <br />Seller shall allow Buyer, and Buyer's agents, access to the Property <br />without charge and at all reasonable times for the purpose of Buyer's <br />investigation and testing of the same. Buyer shall pay all costs and <br />expenses of such investigation and testing. <br />(ii) Seller shall execute such applications, covenants, plat or other documents <br />as may be reasonably required by Buyer in order to make use of the <br />Property which Buyer intends. <br />(d) Testing. Buyer shall have determined, in its sole discretion, on or before the <br />Closing Date, that it is satisfied with the results of and matters disclosed by soil <br />tests, well tests, engineering inspections, hazardous waste and environmental <br />reviews of the Property, all such tests, inspections and reviews to be obtained at <br />Buyer's sole cost and expense. <br />(f) <br />Underground Storage Tanks. Seller shall have, at Seller's cost and expense, <br />removed all underground storage tanks, if any, from the Property in the manner <br />required by the Minnesota Pollution Control Agency, including any cleanup or <br />remediation required by said agency, and shall have obtained a closing letter <br />therefore from the Minnesota Pollution Control Agency. <br />If any such contingency has not been satisfied on or before the Closing Date, then this <br />Agreement may be terminated, at Buyer's option, by written notice from Buyer to Seller. Such <br />notice of termination may be given at any time on or before the Closing Date. Upon such <br />termination, neither party will have any further rights or obligations regarding this Agreement or <br />the Property, all Earnest Money will be returned to Buyer, and the parties shall execute a written <br />cancellation of this Agreement. All of the contingencies set forth in this Agreement are <br />specifically stated and agreed to be for the sole and exclusive benefit of the Buyer and the Buyer <br />shall have the right to unilaterally waive any contingency by written notice to Seller. <br />4. Closing. The closing of the purchase and sale contemplated by this Agreement (the <br />"Closing") is planned to occur within on or before December 18, 2015 (the "Closing Date"). The <br />closing shall take place at the office of the Company that provides the Title Commitment, or at <br />such other place as may be agreed to. Seller agrees to deliver possession of the Property to <br />Buyer on the date of closing. Seller shall keep property insured during this period and shall <br />assume all liability from the continued use of the property until possession is granted to the <br />Buyer. Seller shall name the Buyer as Loss Payee for the period from the date of Closing until <br />the date of Possession. The period during which the Seller remains in occupancy of the Property <br />until Buyer gains possession shall be considered ownership from the Seller's perspective <br />pursuant to the mutual indemnification terms delineated in Provision # 12. If the closing cannot <br />be completed by December 18, 2015, the date may be extended to a date mutually agreeable to <br />both parties. <br />7 <br />
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