09-12-2016 Council Packet - Laserfiche WebLink

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5 Lino Lakes, MN 55014 Buyer: Marcel Eibensteiner Dupont Holdings, LLC 1000 County Road West, Suite 150 Shoreview, MN 55126 Notices not given in the manner or within the time limits set forth in this Agreement are of no effect and may be disregarded by the party to whom they are directed. 14. CLOSING. This transaction shall close on ___________, 2016, or on such earlier date as Seller and Buyer may establish by mutual, written agreement. The Closing shall take place at a location the parties mutually agree upon prior to such date. a. Seller’s Obligations at Closing. At Closing, Seller must deliver to Escrow Agent, for delivery to Buyer: i. A warranty deed, duly executed and acknowledged on behalf of the City conveying title to the Property, subject to (A) the lien of real estate taxes, if any, not yet due and payable and any installments of special assessments certified for payment therewith; (B) Building, Subdivision and Zoning Ordinances; (C) Matters that would be disclosed by an accurate survey of the Property; and (D) any defects or encumbrances on title to which Buyer has not objected; ii. A certified copy of a duly adopted City Ordinance and Resolution authorizing Seller’s sale of the Property to Buyer; and iii. Seller’s affidavits, well disclosure certificate (if required), settlement statement approved by Seller and Buyer, and any other documents required for the closing. b. Buyer’s Obligations at Closing. At Closing, Buyer must: i. Wire Transfer (or deliver a certified check in) an amount Buyer must pay or will receive pursuant to Section 14(c), for disbursement to Seller and others pursuant to this Agreement and the Settlement Statement; and ii. File or cause Escrow Agent to file an Electronic Certificate of Real Estate Value. c. Closing Costs. i. At Closing, the following Seller closing costs and expenses must be paid from the Purchaser Price or, if the Purchase Price is not sufficient, paid by Seller: