12-15-1997 EDA - Laserfiche WebLink

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product during the time the Seller has owned the Property. The Seller further warrants that the Seller has no knowledge or information of any fact which would indicate the Property was used for production, storage. deposit or disposal of any toxic or hazardous waste or substance petroleum product or asbestos product prior to the date the Seller purchased the Property. Notwithstanding the above,the Seller's warranty regarding petroleum products does not preclude the presence of heating oil or other similar products used us a heating fuel for the dwelling but the Seller does warrant that if there is a fuel tank on the Property used for the storage of heating oil or other similar product. the Seller has no knowledge of any leak in the tank or contamination caused thereby. The provisions of this paragraph shall not merge with the deed and shall survive closing on the Property. Not withstanding the foregoing, if, on or before April 15. 1998, Seller shall, in its sole discretion. determine that, due to the condition of the heating oil tank located on the Property that the Property is not acceptable. Buyer may, upon written notice to Seller, terminate this purchase agreement in which�event Ball earnest money shall be refunded to Buyer and this purchase agreement shall be nu 7. Seller hereby grants to Buyer and Buyers agents a license to enter the Property for the purpose of conducting an environmental assessment. The Buyer or Buyer's agent shall have the right pursuant to the license to bring persons and equipment onto the Property. make inspections and perform tests and analyses as Buyer may deem reasonable to determine the presence of a toxic or hazardous waste, substance.or petroleum product or asbestos product, and ascertain soil conditions on the Property. Buyer shall bear the cost of the environmental assessment. If the results of the environmental assessment are not to the satisfaction of the Buyer, the Buyer at its sole discretion may cancel this Purchase Agreement. If the Buyer cancels this Purchase Agreement pursuant to this provision, the Buyer shall restore the Property to its original condition or nearly so as is reasonably practicable. 8. To the best of the Seller's actual knowledge, there are two wells located on the • Property, which Seller agrees to seal at Seller's expense. If the wells are not sealed as of the Date of Closing, Buyer shall escrow 11,500.00 to cover �cost of closing${ed l�sthe pt��rty of the Seller's actual knowledge,there are g There are no septic systems located on the Property. 9. Closing shall take place on or before the 1st day of June, 1998, or other date as the parties may agree to in writing_ Delivery of all papers and monies and the closing shall be made at the offices of the City of Moundse Buyer shall belocation as agreed made to 2401 Highway by the parties 10, Mounds hereto. All deliveries and notices Y View, Minnesota 55112, and shall be marked: Attention: Cathy Bennett. 10. The Seller agrees to deliver possession no later than the date of closing. City water amid sewer charges, electricity and natural gas charges, fuel oil and liquid petroleum gas shall be prorated between the parties as of the date of closing. The Seller agrees to remove all debris and all personal property not included herein from the Property before the possession date. Personal properly not removed shall be deemed forfeited and rshall become e tag and deduct property Bron' the e Buyer. The Buyer may inspect the Property immediately to for the cost of purchasepriceofpayable shall not merge with that closing an amount ud ed and bly hall survive closing on the provisions of this paragraph Property. uyer 11. Within 30 days after thedateofbthis��the Seller to have marketableeller will provide the Btitle with an abstract of title or registered property • tee13a921 2 Mt1205-10 911-d g0/80'd 919-1 O1E81EEZ19 N3AVa9 da3NN3N-word wdZO:tl 18-51-na