2003-135 Council Resolution - Laserfiche WebLink

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(vi) Any other items or documents affecting the conveyance and sale of the Property that may be reasonably requested by Buyer or Title Company, or that may be necessary to carry out the purpose and intent of this Agreement. b) Drafts of the Closing documents described in Section 9(a)(i) through (vi) herein shall be prepared by City and submitted to Buyer for approval on or before ten (10) days prior to the Closing Date. c) At Closing, Buyer shall deliver to City the following: (i) The balance of Purchase Price. (ii) Any other items or documents affecting the conveyance and sale of the Property that may be reasonably requested by City or Title Company, or that may be necessary to carry out the purpose and intent of this Agreement. d) Possession of the Property shall be delivered by City to Buyer immediately upon Closing, and Buyer may commence work on the Property, provided it does not interfere with City's work or access to the Property. Any personal property remaining on the Property after the Possession Date shall be deemed abandoned by City. Except as otherwise provided herein, all Closing costs, including recording fees, shall be allocated to and paid by City or Buyer in accordance with the manner in which such costs are customarily paid by such parties in sales of similar property in Anoka County, Minnesota. City shall pay any recording fees in connection with the recording of the Deed and any deed tax with respect to the ultimate transfer of the Property. Buyer shall pay any mortgage registration tax in connection with the recording of any mortgage given by Buyer and the premium for Owner's and Mortgagee's Title Insurance Policies. Each party shall pay one-half of Title Company's Closing fee. 10. ADJUSTMENT AND PRORATIONS. Real estate taxes due and payable with respect to the Property in the years prior to the calendar year of Closing shall be paid by City. Real estate taxes due and payable with respect to the Property during calendar year of the Closing shall be prorated between City and Buyer as of the Closing Date, based upon the latest available tax information. Real Estate taxes due and payable in the years after the calendar year of Closing shall be paid by Buyer. City shall pay on the Closing Date all outstanding levied, pending or deferred special assessments or similar charges and deferred taxes outstanding as of the Closing Date, including any charges for improvements to be installed by City, except sewer, water, and surface water management area and unit charges. 11. CONDEMNATION AND EMINENT DOMAIN. City represents and warrants that it has not received a notice in respect of and has no knowledge of any condemnation