11-13-2002 Council Agenda - Laserfiche WebLink

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2003 and April 30, 2003 and which is not less than five Business Da�safter the Developer notifies the Seller that the Developer wants to close on the date or on such earlier or later date as the Parties may establish by mutual, written agreement (the "Date of Closing "), at which time: 1428339vRed V8 to V7; I I/1/02 a. Seller must: (i) execute and /or deliver to the closing agent, with copies to Buyer, and make arrangements to have the closing agent record or file in the appropriate county land records any documents necessary to establish Seller as the fee owner of the Property, subject only to Permitted Encumbrances, including, but not limited to, a Order of the Ramsey County District Court in tia1 e -ferrn atta- • _: . _ , transferring title to and in possession of a portion of the Property to The Economic D fthc-LEDASeller and a quit claim deed conve g, a portion of the Property from the EDACIthr to Seller; a • (ii) execute and deliver to Buyer the deed described in Section 7 above; (iii) execute and deliver to Buyer and Buyer's title insurer, if any, a Minnesota Uniform Conveyancing Form Affidavit Regarding Corporation evidencing the absence of bankruptcies, judgments, or tax liens involving parties with the same or similar names as the Seller and evidencing the absence of unrecorded interests affecting the Property and persons in possession of the Property. The Affidavit will indicate that Seller has not contracted for any labor or materials to be furnished to the Property for which payment has not been made. The Affidavit will indicate that Seller has no knowledge of encroachments or boundary line questions affecting the Property. (iv) execute and deliver to Buyer a non- foreign affidavit in recordable form containing such information as is required under IRC Section 1445(b)(2) and any regulations relating thereto; (v) execute and deliver to the closing agent, with a copy to Buyer, a completed Minnesota Department of Health Well Disclosure Certificate or y w&-ls- et--the- described real property" r the statement "I am familiar with-the-preperty- deser-ib GO - . d -nbe'r changed since the last previously filed- well- disclasnre-certifr :" lewed -b -y Seller's signature; (vi) execute and deliver to the closing agent, with copies to Buyer, and make arrangements to have the closing agent record or file in the appropriate county land records, the affidavits described in Minnesota Statutes, §116.48, Subd. 6 and §1158.16, Subd. 2 if required; and (vii) return the Letter of Credit to Buyer; and 3