09-13-2000 Council Agenda - Laserfiche WebLink

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18. Possession. Possession of the Property shall be granted by Seller to Purchaser at the date of closing. 19. Closing. The closing shall take place at the offices of C.I. Title, Inc. 120 days from the full execution of this document if all contingencies are met. At closing, Seller shall deliver to Purchaser, at Seller's expense, the documents specified in paragraph 5 of this Agreement. 20. Indemnification. Seller agrees to indemnify and hold Purchaser, 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 Purchaser) arising out of, resulting from, relating to, or incident to the Property up to and including the date of closing, except to the extent caused by an act or omission of Purchaser, its agents, employees or contractors. Purchaser 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 Purchaser, including its successors and assigns, on Property from the date of execution of this Agreement to the date of closing. 21. Well Disclosure. Check one of the following: x Seller certifies that Seller does not know of any wells on the Property. Wells on the Property are disclosed by Seller on the attached Well Disclosure form. 22. Successors and Assigns. This agreement shall inure to the benefit of and be binding upon Seller and Purchaser and their respective heirs, executors, legal representatives, successors and assigns. It is further understood that this Agreement may be assigned by Purchaser to Precision Landscape & Tree, Inc. and that Seller understands that Seller acquires no additional rights because of this assignment. 23. Time of the Essence. Time is of the essence of this Agreement and the closing of the transaction contemplated hereby. 24. Governing Law. This Agreement shall be governed by and construed in accordance the laws of the State ofNHnnesota. 25. Entire Agreement. This Agreement constitutes the entire agreement of the parties relative to the sale of the Property. 'The parties acknowledge there exists no understanding or provisions relative to the sale of the Property except as set forth in this Agreement. This Agreement may not be changed, waived, discharged or terminated except in writing executed by Purchaser and Seller or canceled pursuant to statute. jF _Y74VCOH01395 M 1 A7_7.00j 8 Page 37