Agenda Packets - 1994/10/11 - Laserfiche WebLink

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OCT 01 193 09:26 HOLMES 3 GRAVEN P.5 8.5. Buyer shall pay at closing: (a) recording fees relating to the flling of the Deed from Seller; and (b) title insurance premiums, if any, and title company closing fee, if any. Covenants Representations and Warranties of Seller. 9.1. The signatories to this Agreement represent that they are partners of the Seller and that they are authorized to execute this Agreement on behalf of Seller. 9.2. Seller shall take no actions to encumber title to the Property between the time Seller acquires the Property and the time the Deed is delivered to Buyer. 9.3. Seller warrants that it has not used the Property for the storage of hazardous substances or petroleum products and, as of the date of execution of this Agreement, is not aware of any facts the existence of which would constitute a violation of any local, state or federal environmental law, regulation or review procedure or which would give any person a valid claim under the Minnesota Environmental Rights Act or the federal Comprehensive Environmental Response, Compensation and Liability Act. The foregoing is applicable only to Seller's actual knowledge of facts, and Seller represents that Seller has made no independent investigation of the Property. 9.4. Seller warrants there is a single right of access to the Property from a public right of way. 9.5. Seller warrants that there has been no labor or material furnished to the Property for which payment has not been made. 9.6. Seller warrants that there are no present violations of any restrictions relating to the use or improvement of the Property. 9.7. The warranties made in paragraphs 9.1, 9.2, 9.4, 9.5 and 9.6 shall survive until one year after the date of closing and delivery of the deed. The warrany made in paragraph 9.3 shall survive until three years after the date of closing and delivery of the deed. 10. Covenants, Representations and Warranties of Buyer 10.1. Buyer is a municipal corporation under the laws of the State of Minnesota and has the power to enter into this Agreement and carry out its obligations hereunder. The signatories to this Agreement represent that they are authorized to execute this Agreement on behalf of Buyer. 11. Well Disclosure. Buyer acknowledges receipt of a well disclosure statement from Seller, attached as Exhibit A to this Agreement. 12. Broker Commissions. Seller and Buyer represent that neither party has engaged the servlces of any reallOr, broker or other person who would be entitled to a fee or commission In connection with the sale of the Property. JR59171 W125-11