06-13-2002 EDA Packet - Laserfiche WebLink

Home Search

16. CLOSING COSTS AND RELATED ITEMS. The Seller shall be responsible for paying the transfer taxes and state deed tax. The Buyer shall be responsible for paying all recording fees, survey costs, any inspection/testing/examination fees or costs, the costs to examine title, the title insurance commitment cost, and the title insurance premium cost. Both parties shall pay their own legal fees and expenses. All other closing fees charged by the Title Company shall be split equally and paid fifty percent (50%) by the Seller and fifty percent (50%) by the Buyer. 17. INDIVIDUAL SEWAGE TREATMENT SYSTEM DISCLOSURE. The Seller has no knowledge or information regarding the existence, location, or status of any sewage treatment system on or serving the Property. 18. WELL DISCLOSURE. The Seller certifies that the Seller does not know of any wells on the Property. 19. BROKER COMMISSION. Each party represents to the other that it has not used the services of any real estate broker or agent in connection with this Agreement or the transaction contemplated by this Agreement. Each party agrees to indemnify, defend, and hold harmless the other party against and in respect of any obligation or liability based in any way upon agreements, arrangements, or understandings made or claimed to have been made by the party with any third person. 20. ENTIRE AGREEMENT. This Agreement constitutes the entire agreement between the parties and no other agreement prior to this Agreement or contemporaneous herewith shall be effective except as expressly set forth or incorporated herein. 21. AMENDMENT AND MODIFICATION. No amendment, modification or waiver of any condition, provision or term of this Agreement shall be valid or have any effect unless made in writing, is signed by the Seller and the Buyer, and specifies with particularity the extent and nature of such amendment, modification or waiver. Any waiver by either party of any default by the other party shall not affect or impair any right arising from any previous or subsequent default. 22. BINDING EFFECT. This Agreement binds and benefits the parties and their successors and assigns. 23. NOTICES. All notices and demands given or required to be given by any party hereto to any other party shall be deemed to have been properly given upon deliver if delivered in person, the next business day after being sent by reputable overnight commercial courier (e.g. U.P.S. or Federal Express), upon delivery if sent by e-mail, or three (3) business days after having been deposited in any U.S. Postal Service and sent by registered or certified mail, postage prepaid, addressed as follows (or sent to such other address as any party shall specify to the other party pursuant to the provisions If to The Seller: Lino Lakes Economic Development Authority Michael Grochala Community Development Director 600 Town Centre Parkway Lino Lakes, MN 55014 Email: MGrochala@linolakes.us If to the Buyer: Silver Creek Equity, LLC Attn: ____________ _________________