Resolution 2011-008 - Laserfiche WebLink

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A. Seller shall surrender any abstract of title and a copy of any owner's title insurance policy for the property, if in Seller's possession or control, to Buyer or Buyer's designated title service provider; and B. Buyer shall obtain the title services determined necessary or desirable by Buyer or Buyer's lender, including but not limited to title searches, title examinations, abstracting, a title insurance commitment or an attorney's title opinion at Buyer's selection and cost and provide a copy to Seller. Seller shall use Seller's best efforts to provide marketable title by the date of closing. Seller agrees to pay all costs and fees necessary to convey marketable title including obtaining and recording all required documents, subject to the following: In the event Seller has not provided marketable title by the date of closing, Seller shall have an additional 30 days to make title marketable, or in the alternative, Buyer may waive title defects by written notice to Seller. In addition to the 30-day extension, Buyer and Seller may, by mutual agreement, further extend the closing date. Lacking such extension, either party may declare this Purchase Agreement canceled by written notice to the other party, or licensee representing or assisting the other party, in which case this Purchase Agreement is canceled. If either party declares this Purchase Agreement canceled, Buyer and Seller shall immediately sign a Cancellation of Purchase Agreement confirming said cancellation and directing all earnest money paid hereunder to be refunded to Buyer. 7. SELLER'S REPRESENTATIONS, WARRANTIES AND COVENANTS. Seller represents, warrants and covenants to Buyer as follows: A. Authority. This Agreement has been duly executed and delivered; any closing documents to be signed by Seller will be duly executed and delivered on each Closing Date; such execution, delivery and performance by Seller do not and will not conflict with or result in a violation of any judgment, order, or decrees of any court or arbiter to which Seller is a party or by which it is bound; this Agreement and those closing documents to be signed by Seller will contain the valid and binding obligations of Seller, and be enforceable in accordance with their terms. B. Leases. As of the Effective Date and the Closing Date, the Property is not, and. will not be, subject to any lease or occupancy agreement. C. Special Assessments. Seller shall pay the outstanding balance due to the City of Lake Elmo for all special assessments levied or pending against 4