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i. Receipt of documents satisfactory to the Purchaser terminating any existing <br />management and service contracts effective as of the date of closing. <br />j. Seller shall have, at Seller's cost and expense, removed all underground storage <br />tanks, if any, from the Property in the manner required by the Minnesota Pollution <br />Control Agency, including any cleanup or remediation required by said agency, <br />and shall have obtained a closing letter therefore from the Minnesota Pollution <br />Control Agency. <br />k. All unrecorded instruments, contracts or conveyances required to perfect or <br />evidence the marketability of Seller's title to the property in recordable form. <br />1. All other documents reasonably determined by Purchaser to be necessary to <br />transfer the Property to Purchaser free and clear of all encumbrances. <br />m. Copies of all title policies, surveys, environmental reports, and soil reports in <br />Seller's possession. <br />6. Purchaser's Performance. Subject to performance by Seller, Purchaser shall deliver <br />to Seller the following at closing: <br />a. Subject to closing prorations, all sums payable by Purchaser at closing under <br />Paragraph 3 of this Purchase Agreement in cash. <br />b. Such other and further documents, instruments and certificates, not inconsistent <br />with the provisions of this agreement, executed by Purchaser that Seller shall <br />reasonably require to carry out and effectuate the purposes and terms of this <br />Agreement. <br />7. Closing Costs. Seller and Purchaser shall each pay 50% of costs associated with <br />closing this transaction except for the following which shall be paid entirely by Seller: State <br />deed tax, conservation fee, well certificate recording, and any fees associated with recording <br />satisfactions or releases relating to transactions occurring prior to the date of this Purchase <br />Agreement, and special assessment searches. <br />8. Special Assessments. Seller shall pay all special assessments levied as of the date of <br />closing. Purchaser will assume all pending and future assessments. <br />9. Real Estate Taxes. Seller shall pay all delinquent real estate taxes including penalties <br />and interest. Real estate taxes payable in 2012 shall be prorated between Seller and Purchaser to <br />the date of closing. Real estate taxes payable in 2013 and thereafter shall be the obligation of the <br />Purchaser. <br />Page 3 of 9 <br />11:Vocl Fl \Correspondence \Iocl 2012 \Donovan Construction Purchase Agreement - Attorney Reviewed - 1 2.12. t 2.doc <br />4 <br />