04/13/1998 Council Packet - Laserfiche WebLink

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3.2 Title. Title to the Credits shall have been found acceptable, or been made acceptable, in accordance with the requirements and terms of Section 6 below. 3.3 Performance of Seller's Obligations. Seller shall have performed all of the obligations required to be performed by Seller under this Agreement, as and when required by this Agreement. Included within the obligations of Seller under this Agreement shall be the following: 3.3.1 The Credits have been deposited in the state wetland banking system pursuant to Minn. R. 8420.0740, subp. 1 (1993). 3.4 Acknowledgment of Deposit The Minnesota Board of Water and Soil Resources ( "Board ") has acknowledged, on or before the Closing Date, the deposit of the Credits in the wetland bank account of Seller. 3.5 Approval of Buyer's Replacement Plan. The local government unit for the impacted wetland shall have approved, on or before the Closing Date, Buyer's wetland replacement plan using the Credits as wetland replacement and notified the board to debit the Seller's account pursuant to Minn. R. 8420.0740, subp. 2(H) (1993). Buyer agrees to make best efforts to obtain approval of Buyer's replacement plan. It any such contingency has not been satisfied on or before the Closing Date, then this Agreement may be terminated, at Seller's or Buyer's option, by written notice to the other party. Such notice of termination may be given at any time on or before the Closing Date. Upon such termination, the Earnest Money shall be returned to Buyer without interest and upon such return, neither party will have any further right or obligations regarding this Agreement or the Credits. 4. Closing. The closing of the purchase and sale contemplated by this Agreement (the "Closing ") shall occur on , 1998 (the "Closing Date "). The closing shall take place at .m. local time at the office of William G. Hawkins, 2140 Fourth Avenue North, Anoka, Minnesota 55303 or at such other place as may be agreed to. 4.1 Seller's Closing Documents. On the Closing Date, Seller shall execute and/or deliver to Buyer the following (collectively, "Seller's Closing Documents "), all in form and content reasonably satisfactory to Buyer: 4.1.1 Bill of Sale. A Warranty Bill of Sale conveying the Credits to Buyer, free and clear of all encumbrances. 4.1.2 Bring -down Certificate. The Bring -down Certificate. 4.1.3 Sellers Affidavit. An Affidavit of Title by Seller indicating that on the Closing Date there are no outstanding, unsatisfied Judgments, tax liens or bankruptcies against or involving Seller affecting the Credits; that there has been no skill, labor or material 2