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PURCHASE AGREEMENT 81. Page 3 Date 9/912011 82. Property located at 3046 LABORE RD in LITTLE CANADA, MN 55109 83. Buyer shall pay any unpaid special assessments payable in the year following closing and thereafter, the payment of 84. which is not otherwise herein provided. unknown 85. As of the date of this Purchase Agreement, Seller represents that Seller HAS ❑ HAS NOT received a notice (Check one.) 86. regarding any new improvement project from any assessing authorities, the costs of which project may be assessed 87. against the property. Any such notice received by Seller after the date of this Purchase Agreement and before closing 88. shall be provided to Buyer immediately. If such notice is issued after the date of this Purchase Agreement and on 89. or before the date of closing, then the parties may agree in writing, on or before the date of closing, to pay, provide 90. for the payment of or assume the special assessments. In the absence of such agreement, either party may declare 91. this Purchase Agreement canceled by written notice to the other party, or licensee representing or assisting the other 92. party, in which case this Purchase Agreement is canceled. If either party declares this Purchase Agreement canceled, 93. Buyer and Seller shall immediately sign a Cancellation of Purchase Agreement confirming said cancellation and 94. directing all earnest money paid hereunder to be refunded to Buyer. 95. Buyer shall pay ✓ PRORATED FROM DAY OF CLOSING 12ths OF ❑ ALL !Check one.) 96. and payable in the year 20 11 NO real estate taxes due 97. Seller shall pay ✓ I PRORATEDTO DAY OF CLOSING 12ths OF ❑ ALL ❑ NO real estate taxes due and (Check one.) 98. payable in the year 20 11 If the closing date is changed, the real estate taxes paid shall, if prorated, be adjusted 99. to the new closing date. Seller warrants taxes due and payable in the year 20 11 shall be 1 FULL -❑ PART -1 I NON - (Check one.) 100. homestead classification. 101. If part- or non - homestead classification is checked, Seller agrees to pay Buyer at closing $ 0- ZERO 102. toward the non - homestead real estate taxes. Buyer agrees to pay any remaining balance of non - homestead taxes 103. when they become due and payable. Buyer shall pay real estate taxes due and payable in the year following closing 104. and thereafter, the payment of which is not otherwise herein provided. No representations are made concerning the 105. amount of subsequent real estate taxes. 106. POSSESSION: Seller shall deliver possession of the property no later than after closing. 107. Seller agrees to remove ALL DEBRIS AND ALL PERSONAL PROPERTY NOT INCLUDED HEREIN from the property 108. by possession date. 109. PRORATIONS: All interest; unit owners' association dues; rents; and charges for city water, city sewer, electricity and 110. natural gas shall be prorated between the parties as of date of closing. Buyer shall pay Seller for remaining gallons of 111. fuel oil or liquid petroleum gas on the day of closing, at the rate of the last fill by Seller. 112. TITLE AND EXAMINATION: As quickly as reasonably possible after Final Acceptance of this Purchase Agreement: 113. (a) Seller shall surrender any abstract of title and a copy of any owner's title insurance policy for the property, if 114. in Seller's possession or control, to Buyer or Buyer's designated title service provider; and 115. (b) Buyer shall obtain the title services determined necessary or desirable by Buyer or Buyer's lender, including 116. but not limited to title searches, title examinations, abstracting, a title insurance commitment or an attorney's 117. title opinion at Buyer's selection and cost and provide a copy to Seller. 118. Seller shall use Seller's best efforts to provide marketable title by the date of closing. Seller agrees to pay all costs 119. and fees necessary to convey marketable title including obtaining and recording all required documents, subject to the 120. following: 121. In the event Seller has not provided marketable title by the date of closing, Seller shall have an additional 30 days to 122, make title marketable, or in the alternative, Buyer may waive title defects by written notice to Seller. In addition to 123. the 30 -day extension, Buyer and Seller may, by mutual agreement, further extend the closing date. Lacking such 124. extension, either party may declare this Purchase Agreement canceled by written notice to the other party, or 125. licensee representing or assisting the other party, in which case this Purchase Agreement is canceled. If either 126. party declares this Purchase Agreement canceled, Buyer and Seller shall immediately sign a Cancellation of 127. Purchase Agreement confirming said cancellation and directing all earnest money paid hereunder to be refunded 128. to Buyer. MN:PA- 3(8/11) PURSUANT TO PARAGRAPH 28 OF THE REAL ESTATE PURCHASE ADDENDUM (REPA) THIS DOCUMENT IS SUBJECT TO ALL TERMS AND CONDITIONS SET FORTH IN THE REPA. BUYERS INITIALS