07/23/2007 Council Packet (2) - Laserfiche WebLink

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suffered any act or thing whereby the Subject Property or any part thereof or Purchaser, if it should acquire the Subject Property, may now or hereafter be charged or encumbered. (b) Seller has full right and authority to execute and deliver this Agreement and all documents and instruments required hereunder to be executed and delivered by Seller. (c) Seller has no actual knowledge of any generation, transportation, treatment, storage, disposal or release in or on the Subject Property by third parties, and Seller has not caused or permitted any generation, transportation, treatment, storage, disposal or release in or on the Subject Property (or in or on any other Property adjacent thereto which is or has been owned by Seller), of any so -called hazardous substances, residues or wastes (including specifically petroleum and related hydrocarbons and their byproducts, asbestos, and polychlorinated biphenyls) which are subject to Federal, State or local laws, rules, regulations, ordinances or other regulatory requirements (hereinafter called "Regulated Substances "), and Seller has no actual knowledge of any Regulated Substances on or off the Subject Property (or any other property adjacent thereto owned or formerly owned by Seller) which may support a claim or cause of action against the Subject Property or any owner thereof, whether by a governmental agency or body, private party or individual, under the environmental laws of the State of Minnesota or any other Federal, State or local environmental statutes, regulations, ordinances or regulatory requirements. The foregoing representations exclude all matters described in the environmental reports and correspondence listed on Exhibit F attached hereto. (d) Seller knows of no actual or pending litigation or claim which might adversely affect the Subject Property or its owner, as owner. (e) Neither the entering into of this Agreement nor the consummation of the transaction contemplated hereby will constitute or result in a violation or breach by Seller of any judgment or decree issued against or imposed upon Seller, or of any agreement to which Seller is a party or which binds the Subject Property, and, to the best of Seller's knowledge, will not violate any applicable law or regulation of any governmental authority. Further, to the best of Seller's knowledge, there is no action, suit, proceeding or investigation pending which would become a cloud on the title to the Subject Property or any portion thereof, or which questions the validity or enforceability of the transaction contemplated by this Agreement or any action taken pursuant hereto, in any court or by any federal, district, county or municipal department, commission, board, bureau, agency or other governmental instrumentality. • • •