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la the event that this Purchase Agreement is terminated pursuant to the foregoing <br />contingencies and conditions precedent, all earnest money, together with accrued interest, shall <br />be promptly refunded to the Purchaser and Purchaser shall execute a termination statement or <br />quit claim deed upon the request of Seller or Seller's agent. <br />16. Notice. Any notice required herein shall be in writing and delivered personally or <br />mailed certified via certified mail, return receipt requested, to the addresses set forth below: <br />Seller: <br />Purchaser: <br />City of Little Canada <br />Attn: City Administrator <br />515 Little Canada Road East <br />Little Canada, MN 55117 <br />Blue Chip Properties, LLC <br />127 East County Road C <br />Little Canada, MN 55117 <br />Such notices, if mailed, are effective the earlier of upon actual receipt or two business <br />days after the date of mailing. Any party may change its address for service of notice <br />by giving written notice of such change to the other party, in the manner specified <br />above, five (5) days prior to the effective date of such change. <br />17. Possession. Possession of the Property shall be granted by Seller to Purchaser at the <br />date of closing. <br />18. Closing. The closing shall take place at the offices of C.I. Title, Inc. on or before <br />December 31, 2004, unless otherwise agreed by Purchaser and Seller. At closing, Seller shall <br />deliver to Purchaser, at Seller's expense, the documents specified in paragraph 5 of this <br />Agreement. <br />19. Well Disclosure. Seller certifies that Seller does not know of any wells on the <br />Property. <br />20. Successors and Assigns. This Agreement shall inure to the benefit of and be binding <br />upon Seller and Purchaser and their respective heirs, executors, legal representatives, successors <br />and assigns. it is further understood that this Agreement may be assigned by Purchaser to <br />another party, and that Seller understands that Seller acquires no additional rights because of this <br />assignment. <br />Page 6 of 10 <br />lig1oeI1-Re cspouda,'ec9oc l 2004VC nu tv Road I3 Purchase .Agreement - Gordic Howe - 11.19.04.doc <br />7 <br />