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Buyer shall deliver the following to Seller: <br />1. Any documents as may be reasonably required by Buyer's title examiner <br />or title insurance company. <br />5. DEED/MARKETABLE TITLE: Subject to performance by Buyer, Seller agrees to <br />execute and deliver at the time of closing a warranty deed conveying marketable title to said <br />Property, subject only to the following exceptions: <br />A. Building and zoning laws, ordinances, state and federal regulations; <br />B. Reservation of any mineral rights by the State of Minnesota; <br />C. Utility and drainage easements which do not interfere with existing improvements. <br />6. POSSESSION: Seller agrees to deliver possession not later than the date of closing. <br />COSTS AND PRORATIONS: Seller and Buyer agree to the following prorations and <br />allocations of costs regarding this Agreement: <br />A. Deed Tax. Seller shall pay all state deed tax regarding a Warranty Deed and any <br />other documents necessary to place record title in the condition warranted and to be <br />delivered by Seller under this Agreement. <br />B. Taxes and Assessments. The real estate taxes due and payable in 2013 will be <br />[homestead/nonhomestead] classification. The Seller and Buyer agree to prorate as <br />of the date of actual closing all real estate taxes due and payable in 2013, the year of <br />closing. Buyer shall pay the real estate taxes due and payable in the year 2014 and <br />thereafter. The Seller makes no warranties as to the real estate homestead tax <br />classification status of property in 2014. Seller shall pay all special assessments due <br />and payable and levied as of the date of closing. Buyer shall pay all special <br />assessments levied on said Property after the date of closing. Seller makes no <br />representation or warranty whatsoever concerning the amount of real estate taxes or <br />assessments which shall be assessed or levied against the Property subsequent to the <br />date of this Agreement. <br />C. Recording Costs. Seller shall pay the costs of recording all documents necessary to <br />place record title in the condition warranted, and the Buyer shall pay the cost of <br />recording all other documents. <br />D. Closing Costs. Seller shall pay the costs of closing. <br />8. SUBDIVISION OF LAND/LEGAL DESCRIPTION TO PROPERTY: If this sale <br />constitutes or requires a subdivision of land owned by Seller, Seller shall pay all subdivision <br />expenses and obtain all necessary governmental approvals. Seller warrants that the legal <br />description of the real property to be conveyed has been or will be approved for recording as <br />of the date of closing. Both parties understand that all real estate taxes due and payable in <br />the year of closing will need to be paid at closing in order for a parcel or subdivision or lot <br />4305620 SJR MU20544 <br />