Agenda Packets - 1993/09/27 - Laserfiche WebLink

Home Browse Search

6. Real Estate Taxes. On or before the Closing Date, Seller will pay all delinquent real estate taxes, penalties and interest, if any. Real estate taxes payable in the year of closing will be prorated between Buyer and Seller as of September 20, 1993. Seller warrants that real estate taxes payable in 1994 are non - homestead. 7. S ecial Assessments. On or before the Closing Data, Seller will pay all installments of special assessments certified for payment with real estate taxes payable in the year of closing. Seller will pay on the Closing Date all other special assessments levied as of the date of this agreement. Seller represents that it has not received a notice of a pending public improvement project from any assessing authority. If a special assessment becomes pending after the date of this Agreement and before the date of closing, Buyer may at its option: (a) assume payment of the pending special assessment without adjustment to the Purchase Price; or (b) declare this Agreement null and void by notice to Seller, and all Earnest Money paid under this Agreement shall be returned to Buyer. Closing. 8.1. The closing shall take place at City Hall in the City of Mounds View on or before November 1, 1993 or at such other time and place as may be agreed to by the parties In writing ("Closing Date") . 8.2. On the Closing Date, Buyer shall deliver to Seller the Purchase Price and Seller shall deliver to Buyer possession of the Property, and shall execute and/or deliver to Buyer: a) A duly executed general warranty deed, conveying marketable title to the Property to Buyer, subject only to: (i) building and zoning laws, ordinances, state and federal regulations; (ii) utility and drainage easements which do not interfere with Buyer's intended use of the Property as a golf course; (iii) restrictions which do not interfere with Buyer's intended use of the Property as a golf course. b) A duly executed affidavit regarding partnership. c) A receipt evidencing payment of real estate taxes for which payment was due prior to the Closing Date. 8.3. Seller shall pay at closing: (a) state deed tax applicable to the transfer of the Property to Buyer; (b) conservation fee; (c) all recording fees and charges relating to the filing of any instruments required to make title marketable; (d) titla insurance fees, other than insurance policy Premiums; and (e) a letter stating that Victor Break, Jeff Brenk and Break shall each receive a lifetime pass for one round of golf per day on the golf course that is constructed on the Property. The passes are not transferable to any other party and shall automatically terminate on death. 8.5. Buyer shall pay at closing: (a) recording fees relating to the iiting of tho Deed from Seiler; and (b) title insurance premiums, if any, and title company cloning foe, if any. JJ:59i7: 9U.12i•11