08-22-2001 Council Agenda - Laserfiche WebLink

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possession or control. Except as c t forth in th preceding s ntenc , Sell r has n bligation teSeller shall, within ten (10) days of the date of the execution of this Agreement, provide Buyer withan abstract of titlo, survey, certificate of title, title insurance commitment, survey or any other vidence of th status f Seller's title to the Property and is n t bligated t updat any evidence f titl Sell r d liv rs t Buyer pursuant t the preceding sent 'tic . Buy r may obtain, at Buyer sole c st and xponse, such evidence of titl as Buyer de ms necessary and appr priato.title evidence obtained through C.1.Title. 11. Real Estate Taxes and Special Assessments. The Parties must pay the real estate taxes (which term, as used in this Agreement, shall include service charges assessed against real property on an annual basis pursuant to Minnesota Statutes 429.101) and special assessments as follows: a. On or before the Date of Closing, Seller must pay the real estate taxes, installments of special assessments, and any penalties and interest thereon, that are due and payable with respect to the Property in the years prior to the year in which the Closing Date occurs; b. Seller and Purchaser will prorate the real estate taxes, if any, due and payable with respect to the Property in the year the Closing Date occurs; c. Subject to Subsection (d) below, Buyer is responsible for the payment of pay all real estate taxes and special assessments due and payable in the years after the Closing Date occurs; and d. On or before the Closing Date, Seller will pay or provide for the payment of all special assessments levied or pending against the Property as of the date of this Purchase Agreement. 12. Seller's Representations. Seller makes the following representations to Buyer: a. Seller represents that Seller is not a foreign person, foreign partnership, foreign trust or foreign estate as those terms are defined in Section 1445 of the Intemal Revenue Code. b. Seller represents that, to the best of Seller's actual knowledge, there are no unrecorded mortgages, contracts, purchase agreements, options, leases, easements or other agreements or interest relating to the Property other than the RAB Development Agreement. c. Seller represents that, to the best of Seller's actual knowledge, there are no persons in possession of any portion of the Property other than Seller. d. Seller represents that, to the best of Seller's actual knowledge, all wells, as that term is defined in Minnesota Statutes, Section 103I.005, subd. 21, located on the Property are described on the Minnesota Well Disclosure Statement attached as Exhibit B. 1316963v1 Page 89