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06-10-2015 Additions
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06-10-2015 Additions
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6/11/2015 9:25:08 AM
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(i) <br />leases which will survive and remain unpaid after the Date of Closing. <br />Wells. The Seller certifies and warrants that there are no wells on the <br />described Property within the meaning of Minnesota Statutes. Should a well <br />be present on the property, I3uyer will be responsible for sealing. <br />(j) Storage Tanks. To the best of Seller's knowledge, there are no above ground <br />or underground tanks located in or about the Property. Should a storage <br />tank be discovered, Buyer assumes responsibility for its removal. <br />(k) All sewage generated by the property goes to a permitted Sewage Treatment <br />Facility. <br />(1) Seller hereby represents that to the best of Seller's knowledge the production of <br />methamphetamine has not occurred on the Property. <br />(m) Buyer hereby acknowledges receipt of lead paint disclosure information. <br />(n) Buyer hereby waives all disclosures required by Minn. Stats. 513.52-513.60. <br />9. Damage. If, prior to the Closing Date, all or any part of the Property is substantially <br />damaged by fire, casualty, unforeseen elements or any other cause, Seller shall immediately give <br />notice to Buyer of such fact and at Buyer's option (to be exercised within thirty (30) days after <br />Seller's notice), this Agreement shall terminate, in which event neither party will have any further <br />obligations under this Agreement. If Buyer fails to elect to terminate despite such damage, or if <br />the Property is damaged but not substantially, Seller shall promptly commence to repair such <br />damage or destruction and return the Property to its condition prior to such damage. If such <br />damage shall be completely repaired prior to the Closing Date then there shall be no reduction in <br />the Purchase Price and Seller retains the proceeds of all insurance related to such damage. If <br />such damage shall not be completely repaired prior to the Closing Date but Seller is diligently <br />proceeding to repair, then Seller shall complete the repair after the Closing Date and shall be <br />entitled to receive the proceeds of all insurance related to such damage after repair is completed; <br />provided, however, Buyer shall have the right to delay the Closing Date until repair is completed. <br />If Seller shall fail to diligently proceed to repair such damage then Buyer shall have the right to <br />require a closing to occur and the Purchase Price (and specifically the cash portion payable at the <br />Closing Date) shall be reduced by the cost of such repair, or at Buyer's option, the Seller shall <br />assign to Buyer all right to receive the proceeds of all insurance related to such damage and the <br />Purchase Price shall remain the same. <br />10. Condemnation. If, prior to the Closing Date, eminent domain proceedings are <br />commenced against all or any part of the Property, Seller shall immediately give notice to Buyer <br />of such fact and at Buyer's option (to be exercised within thirty (30) days after Seller's notice), <br />this Agreement shall terminate, in which event neither party will have further obligations under <br />this Agreement. If Buyer shall fail to give such notice then there shall be no reduction in the <br />Purchase Price, and Seller shall assign to Buyer at the Closing Date all of Seller's right, title and <br />
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