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to the Property. The Seller shall pay at closing all casts incurred by the Buyer in extending the <br />abstract of title or registered properly abstract and correcting defects related thereto. At closing. <br />the Seller shall also pay the amount of the transfer tax payable on the deed conveying the <br />• Property tv the $uyer and the amount of any transfer tax or recording fees for documents <br />necessary to vest title in the Seller. <br />12. If the Buyer defaults in any of the covenants herein, the Seller may terminate this <br />Purchase AgtEemer-t, and on such termination all payment made hereunder shall be retained by <br />the Seller as liquidated damages, time being of the essence. This provision shall not deprive <br />either party of the right to enforce specific performance ofthe Purchase Agreement, provided this <br />Purchase Agreement has not terminated and action to enforce specific performance is commenced <br />within six months after such right of action arises. Tn the event the Buyer defaults in its <br />performance of the terms of this Purchase Agreement and Notice of Cancellation is served upon <br />the Buyer pursuant to Minns. Star. Section 559.21. the termination period shall be thirty (30) days <br />as permitted by Minn. Star., Section 559.21, Subd. 4. <br />13. The Seller warrants that if, far' ~ r~b• the S lerlan or fee is due on the sale <br />of the Property, such comrmssion or fee steal p Y <br />14. The Seller warrants that the Properly is not now occupied by tenants and was not <br />occupied by tenants at the time the Seller first received the Buyer's written offer to purchase the <br />Property. <br />15. The parties ogee that the purchase price includes any and all amounts which Seller <br />may he entitled to receive as relocation benefits pursuant to applicable laws and regulations. <br />IN WITNESS WHEREOF, the parties have hereunto set their hands the day and year first <br />above written. <br />SELLER: BUYER' <br />I. accept this <br />Purchase Agreement and agree to sell the <br />property in accordatlce with the terms and <br />conditions set forth in the Purchase <br />Agreement. <br />MOUNDS VIEW ECONOvIiC <br />DEVELOPMENT AUTHORITY <br />The E3uyer agrees to purchase the prerclises <br />for the price and on the terms and cottditians <br />set forth above. <br />SELLER: <br />Date <br />SELLER: <br />Date <br />$y: <br />Its President Date <br />By: <br />Its Executive Director Date <br /> <br />LMw13aeZ1 <br />-nTZns-lo <br />3 <br />811-d BO/b0'd 919-1 OlEBlEEZl9 <br />N3Rda9 ! d03NN3~-woad wdZO~ZI !B_g~_~e0 <br />