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d. Buyer shall have the right to have inspections of the property conducted prior to closing. <br />Unless required by local ordinance or lending regulations, seller does not plan to have the <br />property inspected. Other than the representations made in this paragraph 10, the property <br />is being sold "AS IS" with no express or implied representation or warranties by Seller as to <br />physical conditions, quality of construction, workmanship, or fitness for any particular <br />purpose. (This paragraph is not intended to waive or limit any provisions of Minn. Stat., <br />Chapter 327A.) <br />11. Disclosure of Notices. Seller has not received any notice from any governmental authority as to <br />violation of any law, ordinance or regulation affecting the property. If the property is subject to restrictive <br />covenants, Seller has not received any notice from any person as to a breach of the covenants. <br />12. Truth -in- Housing. Buyer acknowledges receipt of the Truth -in- Housing Disclosure Report or other <br />inspection report if required by the municipality in which the property is located. <br />13. Possession. Except by addendum, possession of the property shall be granted by Seller to Buyer on <br />the date of closing. <br />14. Examination of Title. Within a reasonable time after the acceptance of this Agreement, Seller shall <br />famish Buyer with an Abstract of Title or a Registered Property Abstract certified to date including proper searches <br />covering bankruptcies and State and Federal judgments, liens, and levied and pending special assessments. Buyer <br />shall have ten (10) business days after receipt of the Abstract of Title or Registered Property Abstract either to have <br />Buyer's attorney examine the title and provide Seller with written objections or, at Buyer's own expense, to make <br />an application for a Title Insurance Policy and notify Seller of the application. Buyer shall have ten (10) business <br />days after receipt of the Commitment for Title Insurance to provide Seller with a copy of the Commitment and <br />written objections. Buyer shall be deemed to have waived any title objection not made within the ten (10) day <br />period, except that this shall not operate as a waiver of Seller's covenant to deliver a statutory Warranty Deed, unless <br />a Warranty Deed is not specified above. <br />15. Title Corrections and Remedies. Seller shall have 120 days from receipt of Buyer's written title <br />objections to make title marketable. Upon receipt of Buyer's title objections, Seller shall, within ten (10) business <br />days, notify Buyer of Seller's intention to make title marketable within the 120 day period. Liens or encumbrances <br />for liquidated amounts which can be released by payment or escrow from proceeds of closing shall not delay the <br />closing. Cure of the defects by Seller shall be reasonable, diligent, and prompt. Pending correction of title, all <br />payments required herein and the closing shall be postponed. <br />a. If notice is given and Seller makes title marketable, then upon presentation to Buyer and <br />proposed lender of documentation establishing that title has been made marketable, and if <br />not objected to in the same time and manner as the original title objections, the closing shall <br />take place within ten (10) business days or on the scheduled closing date, whichever is later. <br />b. If notice is given and Seller proceeds in good faith to make title marketable, but the 120 day <br />period expires without title being made marketable, Buyer may declare this Agreement void <br />-4- <br />Page 71 <br />