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02-14-2022 EDA
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02-14-2022 EDA
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2/14/2022 9:53:26 AM
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MV EDA
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Packets
Date
2/14/2022
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Draft 2.10.2022 <br /> <br />6 <br />DOCSOPEN\MU205\57\776768.v5-1/28/22 <br />Sellers have full authority to enter into this Agreement for the sale of the Property, <br />and that there are no other parties who hold any unrecorded interests in the Property. <br /> <br />G. Authority of Sellers Signatories. The signatories to this Agreement represent and <br />warrant that they are the Sellers or they are the representatives of the Sellers and <br />that they have the authority to enter into this Agreement on Sellers’ behalf. <br /> <br />H. Personal Property and Fixtures. Buyer grants Sellers’ permission to remove any <br />and all personal property and fixtures prior to closing. <br /> <br />I. Survey. Within ten (10) days after the date hereof, Sellers shall deliver to Buyer <br />copies of any survey relative to the Property which Sellers have in its possession or <br />subject to its control. <br /> <br />J. Tenants/Leases. Sellers warrant that there are no leases affecting the Property nor <br />any tenants present or occupying at the Property. <br /> <br />14. ENVIRONMENTAL INVESTIGATION AND WARRANTY: <br /> <br />A. Sellers agree to permit the Buyer to enter the Property for purposes of conducting <br />environmental testing, at the Buyer’s expense. <br /> <br />B. Sellers agree to cooperate with Buyer and its consultants in conducting the <br />environmental evaluations and specifically agrees to provide the Buyer with copies <br />of all environmental studies, soil borings, tests, reports and other documents related <br />to the Property and in Seller’s possession or control. <br /> <br />C. Sellers agree that, if the Buyer’s environmental investigation discloses the <br />existence of any petroleum product or other pollutant, contaminant or hazardous <br />substance on the Property which requires remediation under state or federal <br />environmental laws or regulations, Sellers: (i) at their expense, will perform the <br />remediation to the satisfaction of the Minnesota Pollution Control Agency or other <br />applicable regulatory authority, or (ii) if in Sellers’ judgment the Property can be <br />more economically remediated without any improvements being located on the <br />Property, terminate this Agreement. If remediation is undertaken but not completed <br />prior to the date of closing, the Buyer may at its option (i) declare this Agreement <br />null and void or (ii) proceed to closing and execute an agreement for <br />remediation/indemnification and security (Remediation and Indemnification <br />Agreement) as the Buyer may require. <br /> <br />D. Sellers hereby warrant to Buyer that during the time the Sellers have owned the <br />Property there have been no acts or occurrences upon the Property that have caused <br />or could cause impurities in the subsoil or ground water of the Property or other <br />adjacent properties. This warranty shall survive the closing of this transaction. <br /> <br />E. Sellers agree to indemnify and hold harmless Buyer from any and all claims, causes
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