09-28-2005 Council Agenda - Laserfiche WebLink

Home Browse Search

survey, unrecorded interests, rights of parties in possession or other exceptions. 5. FIRPTA Affidavit. A non - foreign affidavit, properly executed and in recordable form containing such information as is required by IRC Section 1445 and its regulations. 6. Owner's Duplicate Certificates of Title. The Owner's Duplicate Certificate of Title regarding the Real Estate or the Abstract of Title. 7. IRS Form. A Designation Agreement designating the "reporting person" for purposes of completing Internal Revenue Form 1099 and, if applicable, Internal Revenue Form 8594. 8. Well Certificate. A certificate signed by Seller warranting that there are no "wells" on the Real Estate within the meaning of Minnesota Statute Chapter 1031 that have not been removed or sealed or if there are "wells ", a well certificate in the form required by law. 9. Storage Tanks. If the Real Estate contains or contained any storage tanks, an affidavit with respect thereto, as required by Minnesota Statutes §116.48. 10. Assignment of Lease. Seller shall assign its interest in the sign easement in favor of Naegele, Inc. to Buyer. 11. Other Documents. All other documents reasonably determined by Buyer to be necessary to transfer the Real Estate to Buyer as required by this Agreement. b. Buyer's Closing Documents. On the Closing Date, Buyer will execute and /or deliver to Seller the following (collectively, "Buyer's Closing Documents "): 1. Certificate of Real Estate Value. 2. Closing Statement. IRS Form. A Designation Agreement designating the "reporting person" for purposes of completing Internal Revenue Form 1099 and, if applicable, Internal Revenue Form 8594. c. Pro- rations and Closing Costs. Seller and Buyer agree to the following pro - rations and allocation of costs regarding this Agreement: 1. Title Insurance and Closing Fees. Seller will pay all costs of the title evidence and the fees charged by Title Company for any escrow required E 7