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DRAFT #1 <br /> • <br /> 6.0. Control of Property. Until the Date of Closing, Authority shall have the full <br /> responsibility and the entire liability for any and all damages or injuries of any kind whatsoever <br /> to the Property, to any and all persons, whether employees or otherwise, and to any other <br /> property from and connected to the Property, except liability arising from the acts, omissions, <br /> intentional torts or negligence of Developer, its agents or employees. If, prior to the Date of <br /> Closing, all or a material portion of the Property shall be the subject of an action in eminent <br /> domain or a proposed taking by a governmental authority (other than the City), whether <br /> temporary or permanent, Developer, at its sole election, shall have the right to terminate this <br /> Agreement without liability on its part, by so notifying Authority in writing and all sums <br /> heretofore paid to Authority shall then be promptly refunded to Developer in exchange for a quit <br /> claim deed for the Property. At its option, Developer may proceed to closing and in such event, <br /> the Authority shall either assign to Developer all rights to recover any awards for such action in <br /> eminent domain or proposed taking or pay to Developer any such awards or any proceeds already <br /> received. Authority agrees to keep the Property continually insured during the term of this <br /> Agreement. If, prior to the Date of Closing, all or a portion of the Property shall be damaged <br /> or destroyed by any casualty such that the damage or destruction will cost in excess of$5,000 <br /> to repair, Developer, at its sole discretion, shall have the right to terminate this Agreement <br /> without liability on its part, by so notifying Authority in writing and all sums heretofore paid by <br /> Developer shall be promptly refunded to Developer. At Developer's option, Developer may <br /> proceed to closing and Authority shall either assign to Developer all rights under existing <br /> insurance policies to recover insurance proceeds for such damage or pay to Developer all <br /> • <br /> insurance proceeds already recovered on account of such damage. <br /> 7.0. Representations by the Authority and Developer. The Authority and the Developer <br /> make the following representations as the basis for the undertaking on their part herein contained: <br /> 7.1. Representations of Authority. As an essential part of this Agreement and in <br /> order to induce Developer to enter into this Agreement and purchase the Property, <br /> Authority hereby represents and warrants to Developer: <br /> (a) The Authority has the power to enter into this Agreement and carry <br /> out its obligations hereunder. <br /> (b) The Authority does not know of any "wells" (within the meaning <br /> of Minnesota Statutes, Section 103I.005, Subd. 21) on the Property. This <br /> representation is intended to satisfy the requirements of Minnesota Statutes, <br /> Section 103I.235, Subd. 1(a). If wells are found to be on the Property prior to the <br /> Date of CIosing, Authority shall promptly notify Developer of the presence of <br /> such wells. <br /> 7.2. Representations and Warranties by the Developer. The Developer represents <br /> and warrants that: <br /> • <br /> (a) The Developer is a duly organized corporation, in good standing <br /> under the laws of the State of Minnesota, is not in violation of any provisions of <br /> 5.312133725 <br /> MU2o5-9 5 <br />