04-11-2001 Council Agenda - Laserfiche WebLink

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of, resulting from, relating to, or incident to the property up to and including the date of closing or which are in any way related to the ownership, maintenance or operation of the property, and all expenses related there f, including, without limitation, court costs and attorney's fees, except to the extent cause by an act or omission of Buyer, its agents, employees or contractors. Buyer agrees to indemnify and hold Seller, its successors and assigns, harmless of and from any and all liabilities, claims, causes of action, penalties, demands and expenses of any kind or nature whatsoever (except those items which by this Agreement specifically become the obligation of the Seller) arising out of activities of Buyer on property from the date of execution of this Agreement to the date of closing. 16. Minnesota Law. This contract shall be governed by the laws of the State of Minnesota. 17. Well Disclosure. Check one of the following: x Seller certifies that Seller does not know of any wells on the described real property. Wells on the subject real property are disclosed by Seller on the attached Well Disclosure form. 18. Individual Sewage Treatment System Disclosure. Check one of the following: Seller certifies that there is no individual sewage treatment system on or serving the property. Individual sewage treatment systems on or serving the property are disclosed by Seller on the attached disclosure statement. 19. Seller's Affidavit. At closing, Seller shall supplement the warranties and representations in this Purchase Agreement by executing and delivering a Minnesota Uniform Conveyancing Blank [Form No. 116 -M, 117 - M, or 118 -M] Affidavit of Seller. 20. Successors and Assigns. This Agreement shall inure to the benefit of and be binding upon Seller and Buyer and their respective heirs, executors, legal representatives, successors and assigns. Seller acknowledges Buyer will assign this Agreement to an affiliated non - profit corporation to be formed to complete the construction of the proposed addition. 21. Broker's Commission. Seller and Buyer represent and warrant to each other that they have dealt with no brokers, finders, or the like in connection with this transaction, and agree to indemnify each other and to hold each other harmless against all claims, damages, costs or expenses of or for any other such fees or commissions resulting from their actions or agreements regarding the execution or performance of this Agreement, and will pay all costs of defending any action or lawsuit brought to recover any such fees or commissions incurred by the other party, including reasonable attorney's fees. 22. Closing Costs. Buyer shall pay costs associated with closing except for the following: Title insurance should seller not deliver an owner's duplicate or current abstract, State deed tax, conservation fee, well certificate recording, and any fees associated with recording satisfactions or releases relating to transactions occurring prior to the date of this Purchase Agreement, and special assessment searches. H: \KrisP \CORRESP\Kris' 2001\Common Bond Purchase Agreement.doc Page 4 of 6 Page 27